2022 Q4 Form 10-Q Financial Statement

#000160466522000036 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $366.8M $415.1M
YoY Change 11.01% 41.21%
Cost Of Revenue $268.7M $324.6M
YoY Change 46.51% 48.89%
Gross Profit $98.13M $90.49M
YoY Change -33.27% 19.18%
Gross Profit Margin 26.75% 21.8%
Selling, General & Admin $2.854M $8.678M
YoY Change -54.58% 11.37%
% of Gross Profit 2.91% 9.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.39M $23.37M
YoY Change 13.12% 1.56%
% of Gross Profit 29.95% 25.82%
Operating Expenses $2.854M $8.678M
YoY Change -54.58% 11.37%
Operating Profit $95.28M $81.82M
YoY Change -32.32% 20.08%
Interest Expense -$4.704M -$3.645M
YoY Change 117.17% 66.44%
% of Operating Profit -4.94% -4.46%
Other Income/Expense, Net $883.0K $618.0K
YoY Change 8730.0% 2475.0%
Pretax Income $91.46M $78.79M
YoY Change -34.02% 19.43%
Income Tax $195.0K $484.0K
% Of Pretax Income 0.21% 0.61%
Net Earnings $16.78M $14.76M
YoY Change -43.13% 15.38%
Net Earnings / Revenue 4.58% 3.55%
Basic Earnings Per Share
Diluted Earnings Per Share $0.48 $419.0K
COMMON SHARES
Basic Shares Outstanding 35.22M shares 35.21M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.78M $19.47M
YoY Change 279.8% 4.4%
Cash & Equivalents $64.78M $19.47M
Short-Term Investments
Other Short-Term Assets $305.0K $458.0K
YoY Change -22.98% -19.08%
Inventory $4.715M $5.359M
Prepaid Expenses
Receivables $174.5M $24.68M
Other Receivables $1.497M $0.00
Total Short-Term Assets $245.8M $284.2M
YoY Change -12.59% -2.41%
LONG-TERM ASSETS
Property, Plant & Equipment $990.2M $1.007B
YoY Change -5.11% -1.52%
Goodwill $5.814M $5.814M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $130.2M $134.5M
YoY Change -13.31% 225.47%
Total Long-Term Assets $1.126B $1.147B
YoY Change -6.11% 7.26%
TOTAL ASSETS
Total Short-Term Assets $245.8M $284.2M
Total Long-Term Assets $1.126B $1.147B
Total Assets $1.372B $1.431B
YoY Change -7.34% 5.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.32M $19.46M
YoY Change -56.37% 16.01%
Accrued Expenses $17.54M $22.62M
YoY Change -71.2% -7.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.94M $77.66M
YoY Change -37.32% 42.34%
LONG-TERM LIABILITIES
Long-Term Debt $399.7M $399.7M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $399.7M $399.7M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $66.94M $77.66M
Total Long-Term Liabilities $399.7M $399.7M
Total Liabilities $468.3M $479.0M
YoY Change -7.82% 5.1%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $291.9M $291.8M
YoY Change
Total Liabilities & Shareholders Equity $1.372B $1.431B
YoY Change -7.34% 5.19%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $16.78M $14.76M
YoY Change -43.13% 15.38%
Depreciation, Depletion And Amortization $29.39M $23.37M
YoY Change 13.12% 1.56%
Cash From Operating Activities $122.6M $115.5M
YoY Change 460.67% 16.12%
INVESTING ACTIVITIES
Capital Expenditures $8.660M -$13.12M
YoY Change -120.29% 17.17%
Acquisitions
YoY Change
Other Investing Activities $71.12M -$6.000M
YoY Change -20.76% -123.08%
Cash From Investing Activities $62.46M -$19.12M
YoY Change 32.71% -229.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -139.7M -95.27M
YoY Change 98.14% -15.89%
NET CHANGE
Cash From Operating Activities 122.6M 115.5M
Cash From Investing Activities 62.46M -19.12M
Cash From Financing Activities -139.7M -95.27M
Net Change In Cash 45.31M 1.099M
YoY Change -2949.94% 11.91%
FREE CASH FLOW
Cash From Operating Activities $122.6M $115.5M
Capital Expenditures $8.660M -$13.12M
Free Cash Flow $113.9M $128.6M
YoY Change 76.49% 16.23%

Facts In Submission

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PaymentsToMinorityShareholders
214486000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
223941000 usd
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
49807000 usd
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
49779000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-264293000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-273720000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2411000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1493000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17057000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17154000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19468000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18647000 usd
CY2022Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
28985000 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
5875000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4310000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
50000 usd
CY2022Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
24675000 usd
CY2021Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
5825000 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4405000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5458000 usd
CY2022Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
954000 usd
CY2021Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
3440000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
5359000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
8898000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
23368000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
23010000 usd
us-gaap Depreciation
Depreciation
71252000 usd
us-gaap Depreciation
Depreciation
68795000 usd
CY2021Q3 us-gaap Distributed Earnings
DistributedEarnings
16600000 usd
CY2021Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-3810000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
14757000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
12790000 usd
us-gaap Net Income Loss
NetIncomeLoss
47389000 usd
us-gaap Net Income Loss
NetIncomeLoss
53035000 usd
CY2022Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-1847000 usd
CY2021Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-3810000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
-2410000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
3247000 usd
CY2022Q3 us-gaap Distributed Earnings
DistributedEarnings
16604000 usd
CY2022Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-1847000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
14757000 usd
CY2022Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35218547 shares
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
12790000 usd
CY2021Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35209976 shares
us-gaap Distributed Earnings
DistributedEarnings
49799000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
-2410000 usd
us-gaap Net Income Loss
NetIncomeLoss
47389000 usd
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35215808 shares
us-gaap Distributed Earnings
DistributedEarnings
49788000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
3247000 usd
us-gaap Net Income Loss
NetIncomeLoss
53035000 usd
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35203609 shares
CY2022Q3 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.4714
CY2021Q3 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.4714
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
1.4142
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7654000 usd
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
1.4142
CY2018Q4 wlkp Partners Units Maximum Aggregate Offering Amount Atm
PartnersUnitsMaximumAggregateOfferingAmountATM
50000000 usd
CY2022Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
364273000 usd
CY2021Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
247887000 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1020042000 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
708646000 usd
CY2022Q3 wlkp Buyer Deficiency Fee
BuyerDeficiencyFee
13940000 usd
wlkp Buyer Deficiency Fee
BuyerDeficiencyFee
13940000 usd
wlkp Ima Partnership Earned Amount Added To Market Rate Basis Points
IMAPartnershipEarnedAmountAddedToMarketRateBasisPoints
five
CY2022Q3 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
135863000 usd
CY2021Q4 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
106243000 usd
CY2021 wlkp Buyer Deficiency Fee
BuyerDeficiencyFee
51395000 usd
CY2021 wlkp Shortfall Fees
ShortfallFees
58906000 usd
CY2022Q3 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
98399000 usd
CY2021Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
142791000 usd
CY2022Q3 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
35583000 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
10796000 usd
wlkp Siteleaseagreementnumber
Siteleaseagreementnumber
2
wlkp Siteleaseagreementsterminyears
Siteleaseagreementsterminyears
50
wlkp Siteleaseagreements Op Coannualobligationto Wlk
SiteleaseagreementsOpCoannualobligationtoWLK
1 usd
CY2022Q3 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 usd
CY2021Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10517000 usd
CY2022Q3 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 usd
CY2021Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 usd
CY2022Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.034
CY2021Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.021
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22615000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
60895000 usd
CY2022Q3 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
6128000 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
5462000 usd
CY2021Q4 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
5597000 usd

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