2023 Q1 Form 10-K Financial Statement

#000126282323000011 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.356B $3.299B $15.79B
YoY Change -17.26% -5.93% 34.1%
Cost Of Revenue $2.564B $2.732B $11.72B
YoY Change -7.47% 13.31% 41.51%
Gross Profit $792.0M $567.0M $4.073B
YoY Change -38.37% -48.27% 16.54%
Gross Profit Margin 23.6% 17.19% 25.79%
Selling, General & Admin $222.0M $200.0M $835.0M
YoY Change 11.0% 19.05% 51.54%
% of Gross Profit 28.03% 35.27% 20.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $267.0M $271.0M $1.056B
YoY Change 3.89% 12.92% 25.71%
% of Gross Profit 33.71% 47.8% 25.93%
Operating Expenses $222.0M $231.0M $835.0M
YoY Change 11.0% 11.06% 51.54%
Operating Profit $536.0M $336.0M $3.050B
YoY Change -48.06% -62.16% 8.93%
Interest Expense $42.00M -$43.00M $177.0M
YoY Change -8.7% -6.52% 0.57%
% of Operating Profit 7.84% -12.8% 5.8%
Other Income/Expense, Net $22.00M $21.00M $73.00M
YoY Change 100.0% 16.67% 37.74%
Pretax Income $516.0M $305.0M $2.946B
YoY Change -48.24% -63.91% 10.05%
Income Tax $109.0M $57.00M $649.0M
% Of Pretax Income 21.12% 18.69% 22.03%
Net Earnings $394.0M $230.0M $2.247B
YoY Change -47.88% -64.29% 11.51%
Net Earnings / Revenue 11.74% 6.97% 14.23%
Basic Earnings Per Share $3.07 $17.46
Diluted Earnings Per Share $3.05 $1.79 $17.34
COMMON SHARES
Basic Shares Outstanding 127.4M shares 127.5M shares 128.0M shares
Diluted Shares Outstanding 128.5M shares 128.8M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.414B $2.228B $2.228B
YoY Change 128.82% 16.77% 16.77%
Cash & Equivalents $2.414B $2.228B $2.228B
Short-Term Investments
Other Short-Term Assets $55.00M $78.00M $78.00M
YoY Change -51.75% -2.5% -2.5%
Inventory $1.842B $1.866B $1.866B
Prepaid Expenses
Receivables $1.728B $1.651B $1.651B
Other Receivables $72.00M $81.00M $150.0M
Total Short-Term Assets $6.146B $5.973B $5.973B
YoY Change 13.71% 13.49% 13.49%
LONG-TERM ASSETS
Property, Plant & Equipment $8.518B $8.525B $9.140B
YoY Change 2.92% 12.08% 11.9%
Goodwill $2.167B $2.161B
YoY Change 1.26% 6.77%
Intangibles
YoY Change
Long-Term Investments $1.131B $1.142B $1.142B
YoY Change 2.35% 13.41% 13.41%
Other Assets $662.0M $569.0M $569.0M
YoY Change 34.55% 36.45% 36.45%
Total Long-Term Assets $14.66B $14.58B $14.58B
YoY Change 2.26% 10.47% 10.47%
TOTAL ASSETS
Total Short-Term Assets $6.146B $5.973B $5.973B
Total Long-Term Assets $14.66B $14.58B $14.58B
Total Assets $20.81B $20.55B $20.55B
YoY Change 5.39% 11.33% 11.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $828.0M $889.0M $886.0M
YoY Change -18.66% 1.14% 2.55%
Accrued Expenses $1.331B $1.409B $1.409B
YoY Change 4.97% 17.81% 17.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $0.00 $3.000M
YoY Change -99.24% -100.0% -98.94%
Total Short-Term Liabilities $2.159B $2.298B $2.298B
YoY Change -15.33% -1.96% -1.96%
LONG-TERM LIABILITIES
Long-Term Debt $4.892B $4.879B $4.879B
YoY Change -0.2% -0.65% -0.65%
Other Long-Term Liabilities $323.0M $314.0M $1.173B
YoY Change 21.89% 29.22% 17.89%
Total Long-Term Liabilities $5.215B $5.193B $6.052B
YoY Change 0.93% 0.76% 2.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.159B $2.298B $2.298B
Total Long-Term Liabilities $5.215B $5.193B $6.052B
Total Liabilities $9.978B $10.09B $10.62B
YoY Change -4.87% 1.55% 1.09%
SHAREHOLDERS EQUITY
Retained Earnings $10.23B $9.885B
YoY Change 20.02% 26.6%
Common Stock $591.0M $602.0M
YoY Change 3.14% 3.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $465.0M $467.0M
YoY Change 25.0% 17.04%
Treasury Stock Shares 7.279M shares
Shareholders Equity $10.29B $9.931B $9.931B
YoY Change
Total Liabilities & Shareholders Equity $20.81B $20.55B $20.55B
YoY Change 5.39% 11.33% 11.33%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $394.0M $230.0M $2.247B
YoY Change -47.88% -64.29% 11.51%
Depreciation, Depletion And Amortization $267.0M $271.0M $1.056B
YoY Change 3.89% 12.92% 25.71%
Cash From Operating Activities $512.0M $835.0M $3.395B
YoY Change -26.86% 10.3% 41.81%
INVESTING ACTIVITIES
Capital Expenditures $267.0M $297.0M $1.108B
YoY Change 1.52% -221.72% 68.39%
Acquisitions $0.00 $1.203B
YoY Change -100.0% -52.9%
Other Investing Activities -$5.000M -$34.00M -$12.00M
YoY Change -16.67% -98.4% -47.83%
Cash From Investing Activities -$263.0M -$331.0M -$2.479B
YoY Change -82.55% -86.04% -22.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $101.0M
YoY Change 236.67%
Debt Paid & Issued, Net $250.0M
YoY Change
Cash From Financing Activities -$75.00M -107.0M -$587.0M
YoY Change 59.57% 114.0% -140.85%
NET CHANGE
Cash From Operating Activities $512.0M 835.0M $3.395B
Cash From Investing Activities -$263.0M -331.0M -$2.479B
Cash From Financing Activities -$75.00M -107.0M -$587.0M
Net Change In Cash $183.0M 397.0M $305.0M
YoY Change -121.35% -123.86% -49.5%
FREE CASH FLOW
Cash From Operating Activities $512.0M $835.0M $3.395B
Capital Expenditures $267.0M $297.0M $1.108B
Free Cash Flow $245.0M $538.0M $2.287B
YoY Change -43.94% -46.25% 31.74%

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