2023 Q4 Form 10-Q Financial Statement

#000010272923000058 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4
Revenue $1.016B
YoY Change -10.25%
Cost Of Revenue $732.6M
YoY Change -12.01%
Gross Profit $282.9M
YoY Change -5.36%
Gross Profit Margin 27.86%
Selling, General & Admin $188.4M
YoY Change -0.47%
% of Gross Profit 66.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.07M
YoY Change 2.9%
% of Gross Profit 8.86%
Operating Expenses $219.4M
YoY Change 15.93%
Operating Profit $63.55M
YoY Change -42.08%
Interest Expense -$11.89M
YoY Change 4.96%
% of Operating Profit -18.71%
Other Income/Expense, Net -$6.492M
YoY Change -252.11%
Pretax Income $45.17M
YoY Change -34.9%
Income Tax $10.88M
% Of Pretax Income 24.09%
Net Earnings $28.59M
YoY Change -29.12%
Net Earnings / Revenue 2.81%
Basic Earnings Per Share
Diluted Earnings Per Share $1.38
COMMON SHARES
Basic Shares Outstanding 20.89M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.0M
YoY Change 9.51%
Cash & Equivalents $203.0M
Short-Term Investments
Other Short-Term Assets $91.75M
YoY Change 4.63%
Inventory $658.4M
Prepaid Expenses
Receivables $60.00M
Other Receivables $725.0K
Total Short-Term Assets $1.788B
YoY Change 0.4%
LONG-TERM ASSETS
Property, Plant & Equipment $617.4M
YoY Change 3.66%
Goodwill $633.0M
YoY Change -14.45%
Intangibles $150.7M
YoY Change -14.68%
Long-Term Investments
YoY Change
Other Assets $273.4M
YoY Change 13.84%
Total Long-Term Assets $1.690B
YoY Change -4.87%
TOTAL ASSETS
Total Short-Term Assets $1.788B
Total Long-Term Assets $1.690B
Total Assets $3.477B
YoY Change -2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $358.3M
YoY Change -0.56%
Accrued Expenses $146.9M
YoY Change 18.5%
Deferred Revenue $70.98M
YoY Change -58.95%
Short-Term Debt $3.205M
YoY Change -45.18%
Long-Term Debt Due $719.0K
YoY Change -39.78%
Total Short-Term Liabilities $723.1M
YoY Change -10.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.108B
YoY Change 27.21%
Other Long-Term Liabilities $12.82M
YoY Change -4.91%
Total Long-Term Liabilities $1.121B
YoY Change 26.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $723.1M
Total Long-Term Liabilities $1.121B
Total Liabilities $2.060B
YoY Change 22.03%
SHAREHOLDERS EQUITY
Retained Earnings $2.644B
YoY Change 1.95%
Common Stock $27.90M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.354B
YoY Change
Total Liabilities & Shareholders Equity $3.477B
YoY Change -2.24%

Cashflow Statement

Concept 2023 Q4
OPERATING ACTIVITIES
Net Income $28.59M
YoY Change -29.12%
Depreciation, Depletion And Amortization $25.07M
YoY Change 2.9%
Cash From Operating Activities $115.9M
YoY Change -18.68%
INVESTING ACTIVITIES
Capital Expenditures $25.54M
YoY Change -2.4%
Acquisitions
YoY Change
Other Investing Activities -$477.0K
YoY Change -189.66%
Cash From Investing Activities -$26.02M
YoY Change 1.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.91M
YoY Change -36.83%
NET CHANGE
Cash From Operating Activities 115.9M
Cash From Investing Activities -26.02M
Cash From Financing Activities -64.91M
Net Change In Cash 24.98M
YoY Change 76.61%
FREE CASH FLOW
Cash From Operating Activities $115.9M
Capital Expenditures $25.54M
Free Cash Flow $90.37M
YoY Change -22.35%

Facts In Submission

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CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
33928000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
34209000
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-281632000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-274909000
CY2023Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
169931000
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
174539000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
88600000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
178531000
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
49644000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
149801000
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16826000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
75998000
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2023Q3 vmi Supplier Finance Program Confirmed Obligations Outstanding
SupplierFinanceProgramConfirmedObligationsOutstanding
48563000
CY2022Q4 vmi Supplier Finance Program Confirmed Obligations Outstanding
SupplierFinanceProgramConfirmedObligationsOutstanding
48880000
CY2022Q4 vmi Supplier Finance Program Confirmed Obligations Outstanding
SupplierFinanceProgramConfirmedObligationsOutstanding
48880000
vmi Supplier Finance Program Confirmed Obligations Invoices Confirmed
SupplierFinanceProgramConfirmedObligationsInvoicesConfirmed
204922000
CY2023Q3 vmi Supplier Finance Program Confirmed Obligations Outstanding
SupplierFinanceProgramConfirmedObligationsOutstanding
48563000
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
4180000
us-gaap Restructuring Charges
RestructuringCharges
4180000
CY2022Q4 us-gaap Goodwill Gross
GoodwillGross
787328000
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
47467000
CY2022Q4 us-gaap Goodwill
Goodwill
739861000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
17645000
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
160000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
121915000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-414000
CY2023Q3 us-gaap Goodwill
Goodwill
635017000
CY2023Q3 us-gaap Goodwill Gross
GoodwillGross
804399000
CY2023Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
169382000
CY2023Q3 us-gaap Goodwill
Goodwill
635017000
CY2023Q3 vmi Number Of Reporting Units Impaired For Goodwill
NumberOfReportingUnitsImpairedForGoodwill
2
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
342988000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
202736000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
346217000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
169602000
CY2023Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P4Y
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.34
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.77
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42774
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P4Y
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5191000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15606000
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5386000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16766000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
10122000
us-gaap Interest Paid Net
InterestPaidNet
30932000
us-gaap Interest Paid Net
InterestPaidNet
23678000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
88930000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
61551000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-49028000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
72112000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
114888000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
210531000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20951
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21332
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21083
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21308
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
273
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
207
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
238
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20951
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21605
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21290
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21546
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.34
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.88
CY2022Q3 vmi Earnings Per Share Dilutive Securities Stock Options Per Share
EarningsPerShareDilutiveSecuritiesStockOptionsPerShare
-0.04
vmi Earnings Per Share Dilutive Securities Stock Options Per Share
EarningsPerShareDilutiveSecuritiesStockOptionsPerShare
-0.05
vmi Earnings Per Share Dilutive Securities Stock Options Per Share
EarningsPerShareDilutiveSecuritiesStockOptionsPerShare
-0.11
CY2023Q3 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
4684000
CY2022Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
1404000
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-537000
CY2022Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-862000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4560000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1028000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1050295000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1097382000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3159072000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3213734000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-24190000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
109972000
us-gaap Operating Income Loss
OperatingIncomeLoss
228009000
us-gaap Operating Income Loss
OperatingIncomeLoss
323533000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1050295000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1050295000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1097382000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1097382000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3159072000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3159072000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3213734000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3213734000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1050295000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3159072000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1097382000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3213734000

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