2021 Q4 Form 10-K Financial Statement

#000082113022000009 Filed on February 17, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $1.069B $4.122B $1.073B
YoY Change -0.37% 2.11% 2.0%
Cost Of Revenue $528.0M $1.908B $521.0M
YoY Change 1.34% 6.41% 5.89%
Gross Profit $541.0M $2.214B $552.0M
YoY Change -1.99% -1.34% -1.43%
Gross Profit Margin 50.61% 53.71% 51.44%
Selling, General & Admin $361.0M $1.345B $374.0M
YoY Change -3.48% -1.68% -1.32%
% of Gross Profit 66.73% 60.75% 67.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $168.0M $662.0M $167.0M
YoY Change 0.6% -1.05% -6.18%
% of Gross Profit 31.05% 29.9% 30.25%
Operating Expenses $529.0M $3.952B $541.0M
YoY Change -2.22% 2.28% -2.87%
Operating Profit $12.00M $170.0M $11.00M
YoY Change 9.09% -1.73% 266.67%
Interest Expense $12.00M $175.0M $7.000M
YoY Change 71.43% 56.25% -61.11%
% of Operating Profit 100.0% 102.94% 63.64%
Other Income/Expense, Net $10.00M $0.00
YoY Change -87.01%
Pretax Income $17.00M $180.0M $12.00M
YoY Change 41.67% -28.0% -20.0%
Income Tax -$11.00M $20.00M $55.00M
% Of Pretax Income -64.71% 11.11% 458.33%
Net Earnings $27.00M $155.0M $5.000M
YoY Change 440.0% -32.31% -72.22%
Net Earnings / Revenue 2.53% 3.76% 0.47%
Basic Earnings Per Share $1.80
Diluted Earnings Per Share $321.4K $1.77 $57.47K
COMMON SHARES
Basic Shares Outstanding 86.00M shares
Diluted Shares Outstanding 87.00M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.0M $156.0M $1.274B
YoY Change -87.76% -87.76% 347.02%
Cash & Equivalents $156.0M $156.0M $1.271B
Short-Term Investments $0.00 $0.00 $3.000M
Other Short-Term Assets $49.00M $107.0M $29.00M
YoY Change 68.97% 33.75% 45.0%
Inventory $173.0M $173.0M $146.0M
Prepaid Expenses $58.00M $51.00M
Receivables $976.0M $983.0M $915.0M
Other Receivables $186.0M $186.0M $195.0M
Total Short-Term Assets $1.605B $1.605B $2.623B
YoY Change -38.81% -38.81% 66.75%
LONG-TERM ASSETS
Property, Plant & Equipment $2.606B $3.565B $2.466B
YoY Change 5.68% 5.16% 11.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $431.0M $439.0M $428.0M
YoY Change 0.7% 0.92% -2.73%
Other Assets $626.0M $644.0M $602.0M
YoY Change 3.99% 6.62% 6.36%
Total Long-Term Assets $8.736B $8.736B $7.058B
YoY Change 23.77% 23.77% 7.09%
TOTAL ASSETS
Total Short-Term Assets $1.605B $1.605B $2.623B
Total Long-Term Assets $8.736B $8.736B $7.058B
Total Assets $10.34B $10.34B $9.681B
YoY Change 6.82% 6.82% 18.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $360.0M $360.0M $387.0M
YoY Change -6.98% -6.98% 27.3%
Accrued Expenses $245.0M $245.0M $246.0M
YoY Change -0.41% -0.41% 16.59%
Deferred Revenue $191.0M $151.0M
YoY Change 26.49% 2.03%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $3.000M $2.000M
YoY Change 50.0% 50.0% -75.0%
Total Short-Term Liabilities $903.0M $903.0M $871.0M
YoY Change 3.67% 3.67% 16.13%
LONG-TERM LIABILITIES
Long-Term Debt $2.728B $2.728B $2.489B
YoY Change 9.6% 9.6% 65.71%
Other Long-Term Liabilities $573.0M $1.462B $376.0M
YoY Change 52.39% 16.77% 17.87%
Total Long-Term Liabilities $573.0M $4.190B $376.0M
YoY Change 52.39% 12.0% 17.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $903.0M $903.0M $871.0M
Total Long-Term Liabilities $573.0M $4.190B $376.0M
Total Liabilities $1.476B $5.794B $1.247B
YoY Change 18.36% 9.94% 16.65%
SHAREHOLDERS EQUITY
Retained Earnings $2.849B $2.739B
YoY Change 4.02% 7.41%
Common Stock $88.00M $88.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $68.00M $67.00M
YoY Change 1.49% -4.29%
Treasury Stock Shares
Shareholders Equity $4.547B $4.547B $4.411B
YoY Change
Total Liabilities & Shareholders Equity $10.34B $10.34B $9.681B
YoY Change 6.82% 6.82% 18.58%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $27.00M $155.0M $5.000M
YoY Change 440.0% -32.31% -72.22%
Depreciation, Depletion And Amortization $168.0M $662.0M $167.0M
YoY Change 0.6% -1.05% -6.18%
Cash From Operating Activities $135.0M $802.0M $287.0M
YoY Change -52.96% -35.17% 675.68%
INVESTING ACTIVITIES
Capital Expenditures -$307.0M -$2.026B -$301.0M
YoY Change 1.99% 74.66% 36.82%
Acquisitions
YoY Change
Other Investing Activities $3.000M -$4.000M -$7.000M
YoY Change -142.86% 33.33% -333.33%
Cash From Investing Activities -$304.0M -$2.036B -$308.0M
YoY Change -1.3% 75.06% 41.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.00M
YoY Change 34.78%
Debt Paid & Issued, Net $1.118B
YoY Change 935.19%
Cash From Financing Activities 105.0M $142.0M 364.0M
YoY Change -71.15% -84.67% -450.0%
NET CHANGE
Cash From Operating Activities 135.0M $802.0M 287.0M
Cash From Investing Activities -304.0M -$2.036B -308.0M
Cash From Financing Activities 105.0M $142.0M 364.0M
Net Change In Cash -64.00M -$1.092B 343.0M
YoY Change -118.66% -209.2% -220.77%
FREE CASH FLOW
Cash From Operating Activities $135.0M $802.0M $287.0M
Capital Expenditures -$307.0M -$2.026B -$301.0M
Free Cash Flow $442.0M $2.828B $588.0M
YoY Change -24.83% 17.98% 128.79%

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The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (a) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and (b) the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates are involved in accounting for indefinite-lived intangible assets and income taxes.
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CY2021Q4 usm Fcc Licenses Numberof Accounting Units Unbuilt Licenses
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CY2021Q4 us-gaap Financing Receivable Threshold Period Past Due
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 usm Loss Carryback Benefit Of Cares Act
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CY2019 usm Loss Carryback Benefit Of Cares Act
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CY2019 usm Loss Carryback Benefit Of Cares Act Rate
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CY2021 us-gaap Income Tax Reconciliation Tax Credits
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2020 us-gaap Income Tax Reconciliation Tax Credits
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CY2019 us-gaap Income Tax Reconciliation Tax Credits
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q4 us-gaap Equity Method Investment Aggregate Cost
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435000000 USD
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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CY2021 us-gaap Variable Lease Cost
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2019 us-gaap Operating Lease Cost
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CY2019 us-gaap Lease Cost
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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118000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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87000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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680000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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335000000 USD
CY2021Q4 us-gaap Operating Lease Liability
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2021 us-gaap Operating Lease Lease Income
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CY2019 us-gaap Operating Lease Lease Income
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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69000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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54000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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36000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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17000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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15000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
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263000000 USD
CY2020Q4 us-gaap Asset Retirement Obligation
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249000000 USD
CY2019Q4 us-gaap Asset Retirement Obligation
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220000000 USD
CY2021 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2021Q4 us-gaap Debt And Capital Lease Obligations
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CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
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27000000 USD
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32000000 USD
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8000000 USD
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10000000 USD
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20000000 USD
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24000000 USD
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AllocatedShareBasedCompensationExpenseNetOfTax
31000000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27000000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41000000 USD
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
41000000 USD
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
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EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
11000000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
143000000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
105000000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
107000000 USD
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6000000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-38000000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
78000000 USD
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000000 USD
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
16000000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11000000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10000000 USD
CY2021 usm Payments For Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
PaymentsForIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
16000000 USD
CY2020 usm Payments For Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
PaymentsForIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
11000000 USD
CY2019 usm Payments For Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
PaymentsForIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9000000 USD
CY2021 dei Auditor Firm
AuditorFirmId
238
CY2021 dei Auditor Name
AuditorName
PricewaterhouseCoopers LLP
CY2021 dei Auditor Location
AuditorLocation
Chicago, Illinois

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