2023 Q4 Form 10-Q Financial Statement

#000010604023000034 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $3.032B $2.750B $2.672B
YoY Change -2.41% -39.27% -39.01%
Cost Of Revenue $2.540B $2.651B $2.580B
YoY Change -1.51% -14.01% -19.38%
Gross Profit $492.0M $99.00M $92.00M
YoY Change -6.82% -93.15% -92.21%
Gross Profit Margin 16.23% 3.6% 3.44%
Selling, General & Admin $198.0M $207.0M $231.0M
YoY Change -20.8% -22.18% -17.79%
% of Gross Profit 40.24% 209.09% 251.09%
Research & Development $444.0M $431.0M $458.0M
YoY Change -15.11% -27.93% -19.93%
% of Gross Profit 90.24% 435.35% 497.83%
Depreciation & Amortization $143.0M $147.0M $185.0M
YoY Change -33.18% -33.48% -14.35%
% of Gross Profit 29.07% 148.48% 201.09%
Operating Expenses $678.0M $695.0M $689.0M
YoY Change -20.14% -19.56% -19.6%
Operating Profit -$186.0M -$596.0M -$597.0M
YoY Change -42.06% -202.58% -284.26%
Interest Expense -$30.00M $98.00M -$80.00M
YoY Change -141.1% -292.16% -206.67%
% of Operating Profit
Other Income/Expense, Net -$49.00M -$86.00M $0.00
YoY Change -23.44% -490.91% -100.0%
Pretax Income -$240.0M -$682.0M -$730.0M
YoY Change -37.66% -233.46% -378.63%
Income Tax $28.00M $3.000M -$15.00M
% Of Pretax Income
Net Earnings -$282.0M -$685.0M -$730.0M
YoY Change -36.77% -327.57% -3020.0%
Net Earnings / Revenue -9.3% -24.91% -27.32%
Basic Earnings Per Share -$0.93 -$2.17
Diluted Earnings Per Share -$0.87 -$2.17 -$2.27
COMMON SHARES
Basic Shares Outstanding 324.2M shares 321.9M shares 319.9M shares
Diluted Shares Outstanding 325.0M shares 323.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.481B $2.032B $2.023B
YoY Change 32.6% -12.68% -19.24%
Cash & Equivalents $2.481B $2.032B $2.023B
Short-Term Investments
Other Short-Term Assets $618.0M $597.0M $567.0M
YoY Change -25.72% -12.72% -13.96%
Inventory $3.216B $3.497B $3.698B
Prepaid Expenses
Receivables $1.523B $1.451B $1.598B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.838B $7.577B $7.886B
YoY Change -6.48% -19.85% -14.08%
LONG-TERM ASSETS
Property, Plant & Equipment $3.315B $3.371B $3.620B
YoY Change -10.11% -8.15% 3.78%
Goodwill $10.04B $10.04B $10.04B
YoY Change -0.04% -0.06% -0.24%
Intangibles $79.00M $80.00M $80.00M
YoY Change -41.48% -62.44% -68.25%
Long-Term Investments
YoY Change
Other Assets $1.768B $1.693B $1.509B
YoY Change 22.35% 13.93% 15.81%
Total Long-Term Assets $16.45B $16.42B $16.54B
YoY Change -1.31% -2.27% 0.13%
TOTAL ASSETS
Total Short-Term Assets $7.838B $7.577B $7.886B
Total Long-Term Assets $16.45B $16.42B $16.54B
Total Assets $24.29B $24.00B $24.43B
YoY Change -3.04% -8.6% -4.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.755B $1.571B $1.585B
YoY Change 47.11% -17.4% -13.67%
Accrued Expenses $1.390B $1.347B $1.637B
YoY Change -1.42% -17.67% 1.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.042B $1.850B $1.213B
YoY Change 2642.11% 1517.33%
Total Short-Term Liabilities $4.693B $5.792B $5.434B
YoY Change 7.1% 10.6% 23.58%
LONG-TERM LIABILITIES
Long-Term Debt $7.351B $5.822B $5.857B
YoY Change 4.52% -17.09% -17.36%
Other Long-Term Liabilities $1.397B $1.398B $1.415B
YoY Change -7.91% -21.42% -36.58%
Total Long-Term Liabilities $8.748B $7.220B $7.272B
YoY Change 2.32% -17.96% -21.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.693B $5.792B $5.434B
Total Long-Term Liabilities $8.748B $7.220B $7.272B
Total Liabilities $13.44B $13.01B $12.71B
YoY Change 3.94% -7.31% -7.36%
SHAREHOLDERS EQUITY
Retained Earnings $6.601B $6.739B $7.424B
YoY Change -24.22% -25.45% -15.04%
Common Stock $3.000M $3.000M $3.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.84B $10.11B $11.72B
YoY Change
Total Liabilities & Shareholders Equity $24.29B $24.00B $24.43B
YoY Change -3.04% -8.6% -4.94%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$282.0M -$685.0M -$730.0M
YoY Change -36.77% -327.57% -3020.0%
Depreciation, Depletion And Amortization $143.0M $147.0M $185.0M
YoY Change -33.18% -33.48% -14.35%
Cash From Operating Activities -$92.00M -$626.0M -$68.00M
YoY Change -362.86% -312.2% -117.09%
INVESTING ACTIVITIES
Capital Expenditures -$43.00M $124.0M $105.0M
YoY Change -83.33% -146.79% -136.08%
Acquisitions
YoY Change
Other Investing Activities -$103.0M -$2.000M -$37.00M
YoY Change -98.1% -197.37%
Cash From Investing Activities -$60.00M $84.00M -$142.0M
YoY Change -76.74% -122.7% -43.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 597.0M $554.0M 19.00M
YoY Change 1471.05% -683.16% -111.38%
NET CHANGE
Cash From Operating Activities -92.00M -$626.0M -68.00M
Cash From Investing Activities -60.00M $84.00M -142.0M
Cash From Financing Activities 597.0M $554.0M 19.00M
Net Change In Cash 445.0M $9.000M -191.0M
YoY Change -340.54% -105.29% 768.18%
FREE CASH FLOW
Cash From Operating Activities -$92.00M -$626.0M -$68.00M
Capital Expenditures -$43.00M $124.0M $105.0M
Free Cash Flow -$49.00M -$750.0M -$173.0M
YoY Change -116.72% -233.93% -125.11%

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<div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fiscal Year</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, the Company reports a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal year 2024, which will end on June 28, 2024, and fiscal year 2023, which ended June 30, 2023, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks.</span></div>
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Files In Submission

Name View Source Status
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