2021 Q2 Form 10-Q Financial Statement

#000166591821000110 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $6.295B $6.339B
YoY Change 38.05% 5.11%
Cost Of Revenue $5.292B $5.273B
YoY Change 36.08% 5.9%
Gross Profit $1.003B $1.066B
YoY Change 49.48% 1.33%
Gross Profit Margin 15.93% 16.82%
Selling, General & Admin $972.0M $1.192B
YoY Change 36.13% 29.42%
% of Gross Profit 96.91% 111.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $101.0M $101.0M
YoY Change 16.09% 24.69%
% of Gross Profit 10.07% 9.47%
Operating Expenses $975.0M $1.192B
YoY Change 33.56% 29.42%
Operating Profit $28.00M -$126.0M
YoY Change -147.46% -196.18%
Interest Expense $54.00M $52.00M
YoY Change -14.29% 23.81%
% of Operating Profit 192.86%
Other Income/Expense, Net $7.000M $6.000M
YoY Change 75.0% 200.0%
Pretax Income -$42.00M -$172.0M
YoY Change -64.41% -289.01%
Income Tax -$18.00M -$40.00M
% Of Pretax Income
Net Earnings -$24.00M -$132.0M
YoY Change -73.91% -285.92%
Net Earnings / Revenue -0.38% -2.08%
Basic Earnings Per Share -$0.18 -$0.60
Diluted Earnings Per Share -$0.18 -$0.60
COMMON SHARES
Basic Shares Outstanding 221.0M shares 219.0M shares
Diluted Shares Outstanding 221.0M shares 219.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $912.0M $1.077B
YoY Change -45.32% 1070.65%
Cash & Equivalents $912.0M $1.077B
Short-Term Investments
Other Short-Term Assets $20.00M $24.00M
YoY Change -23.08% 14.29%
Inventory $1.451B $1.426B
Prepaid Expenses $160.0M $121.0M
Receivables $1.400B $1.100B
Other Receivables $177.0M $136.0M
Total Short-Term Assets $4.084B $3.923B
YoY Change -7.64% 27.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.987B $2.105B
YoY Change -6.32% 13.85%
Goodwill $5.625B $4.728B
YoY Change -0.07% 19.18%
Intangibles $874.0M $948.0M
YoY Change -7.32% 201.91%
Long-Term Investments
YoY Change
Other Assets $409.0M $273.0M
YoY Change 0.99% 57.8%
Total Long-Term Assets $8.916B $8.061B
YoY Change -2.1% 27.75%
TOTAL ASSETS
Total Short-Term Assets $4.084B $3.923B
Total Long-Term Assets $8.916B $8.061B
Total Assets $13.00B $11.98B
YoY Change -3.91% 27.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.733B $1.299B
YoY Change -9.46% -15.32%
Accrued Expenses $538.0M $423.0M
YoY Change 4.47% 0.95%
Deferred Revenue
YoY Change
Short-Term Debt $178.0M $159.0M
YoY Change 21.09% 2.58%
Long-Term Debt Due $122.0M $146.0M
YoY Change -18.12% 37.74%
Total Short-Term Liabilities $2.571B $2.027B
YoY Change -5.65% -8.45%
LONG-TERM LIABILITIES
Long-Term Debt $5.616B $5.769B
YoY Change -7.4% 76.15%
Other Long-Term Liabilities $504.0M $310.0M
YoY Change 8.62% 3.68%
Total Long-Term Liabilities $504.0M $310.0M
YoY Change 8.62% 3.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.571B $2.027B
Total Long-Term Liabilities $504.0M $310.0M
Total Liabilities $8.966B $8.402B
YoY Change -6.0% 38.17%
SHAREHOLDERS EQUITY
Retained Earnings $622.0M $783.0M
YoY Change -9.33% 30.07%
Common Stock $2.910B $2.859B
YoY Change 1.29% 2.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.500B $3.582B
YoY Change
Total Liabilities & Shareholders Equity $13.00B $11.98B
YoY Change -3.91% 27.61%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$24.00M -$132.0M
YoY Change -73.91% -285.92%
Depreciation, Depletion And Amortization $101.0M $101.0M
YoY Change 16.09% 24.69%
Cash From Operating Activities $176.0M -$62.00M
YoY Change -78.85% -140.26%
INVESTING ACTIVITIES
Capital Expenditures $46.00M $79.00M
YoY Change -188.46% 29.51%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.000M
YoY Change -100.0%
Cash From Investing Activities -$46.00M -$74.00M
YoY Change -95.5% 21.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$47.00M $1.123B
YoY Change -106.02% -1159.43%
NET CHANGE
Cash From Operating Activities $176.0M -$62.00M
Cash From Investing Activities -$46.00M -$74.00M
Cash From Financing Activities -$47.00M $1.123B
Net Change In Cash $83.00M $987.0M
YoY Change -85.96% -7692.31%
FREE CASH FLOW
Cash From Operating Activities $176.0M -$62.00M
Capital Expenditures $46.00M $79.00M
Free Cash Flow $130.0M -$141.0M
YoY Change -85.29% -251.61%

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CY2021Q2 us-gaap Interest Paid Net
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CY2020Q1 us-gaap Interest Paid Net
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CY2021Q2 us-gaap Income Taxes Paid Net
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CY2020Q1 us-gaap Income Taxes Paid Net
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CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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38000000 USD
CY2021Q2 usfd Property And Equipment Transferred To Assets Held For Sale
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CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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21000000 USD
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CY2021Q2 us-gaap Depreciation
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CY2021Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2021Q1 us-gaap Interest Rate Derivative Liabilities At Fair Value
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CY2021Q2 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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CY2021Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2021Q2 us-gaap Long Term Debt And Capital Lease Obligations
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DebtInstrumentPercentageOfPrincipalAmountAtFloatingRate
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CY2021Q2 us-gaap Restructuring Reserve
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CY2021Q2 us-gaap Defined Benefit Plan Interest Cost
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CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
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7000000 USD
CY2021Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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14000000 USD
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13000000 USD
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CY2021Q2 us-gaap Defined Contribution Plan Cost Recognized
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13000000 USD
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CY2021Q2 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2020Q1 us-gaap Preferred Stock Dividends And Other Adjustments
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0 shares
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CY2021Q2 us-gaap Preferred Stock Shares Outstanding
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CY2021Q2 us-gaap Preferred Stock Value Outstanding
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CY2020Q2 us-gaap Preferred Stock Shares Issued
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CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2020Q2 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2020Q2 usfd Preferred Stock Per Share Proceeds
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CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2021Q1 us-gaap Preferred Stock Dividends Shares
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CY2021Q1 us-gaap Preferred Stock Shares Outstanding
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CY2021Q1 us-gaap Preferred Stock Value Outstanding
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519000000 USD
CY2021Q2 us-gaap Preferred Stock Dividends Shares
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CY2021Q2 usfd Dividends Preferred Stock1
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.43
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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3000000 USD
CY2021Q2 us-gaap Number Of Reportable Segments
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1 segment

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