2022 Q4 Form 10-Q Financial Statement

#000155837022015389 Filed on October 26, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $4.935B $5.075B
YoY Change 5.49% 8.79%
Cost Of Revenue $3.093B $3.156B
YoY Change 21.68% 8.6%
Gross Profit $1.842B $1.919B
YoY Change -13.76% 9.1%
Gross Profit Margin 37.33% 37.81%
Selling, General & Admin $487.0M $473.0M
YoY Change -46.19% 0.85%
% of Gross Profit 26.44% 24.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $545.0M $503.0M
YoY Change 6.86% -2.71%
% of Gross Profit 29.59% 26.21%
Operating Expenses $1.032B $473.0M
YoY Change -27.07% 0.85%
Operating Profit $810.0M $942.0M
YoY Change 12.34% 16.87%
Interest Expense -$127.0M -$91.00M
YoY Change 49.41% 4.6%
% of Operating Profit -15.68% -9.66%
Other Income/Expense, Net $5.000M -$6.000M
YoY Change -44.44% -700.0%
Pretax Income $643.0M $828.0M
YoY Change 0.16% 17.28%
Income Tax $143.0M $189.0M
% Of Pretax Income 22.24% 22.83%
Net Earnings $499.0M $639.0M
YoY Change -1.38% 18.77%
Net Earnings / Revenue 10.11% 12.59%
Basic Earnings Per Share $1.55
Diluted Earnings Per Share $1.213M $1.54
COMMON SHARES
Basic Shares Outstanding 410.5M 413.3M
Diluted Shares Outstanding 414.3M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.0M $137.0M
YoY Change 197.46% 18.1%
Cash & Equivalents $351.0M $137.0M
Short-Term Investments
Other Short-Term Assets $448.0M $292.0M
YoY Change 65.93% 9.36%
Inventory $164.0M $159.0M
Prepaid Expenses
Receivables $2.752B $2.452B
Other Receivables $0.00 $224.0M
Total Short-Term Assets $3.551B $3.264B
YoY Change 15.71% 2.51%
LONG-TERM ASSETS
Property, Plant & Equipment $15.72B $14.74B
YoY Change 9.02% 4.68%
Goodwill $9.323B $9.092B
YoY Change 3.27% 0.95%
Intangibles $827.0M $847.0M
YoY Change -7.91% -7.83%
Long-Term Investments $460.0M $593.0M
YoY Change 6.48% 47.51%
Other Assets $1.947B $929.0M
YoY Change 115.61% 5.93%
Total Long-Term Assets $27.82B $26.58B
YoY Change 6.87% 3.59%
TOTAL ASSETS
Total Short-Term Assets $3.551B $3.264B
Total Long-Term Assets $27.82B $26.58B
Total Assets $31.37B $29.84B
YoY Change 7.8% 3.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.980B $1.489B
YoY Change 189.45% 1.57%
Accrued Expenses $1.625B $1.496B
YoY Change 13.8% 1.56%
Deferred Revenue $589.0M $591.0M
YoY Change 3.15% 5.16%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $414.0M $258.0M
YoY Change -41.53% -57.07%
Total Short-Term Liabilities $4.394B $3.834B
YoY Change 7.64% -6.53%
LONG-TERM LIABILITIES
Long-Term Debt $14.57B $13.81B
YoY Change 14.75% 10.92%
Other Long-Term Liabilities $5.539B $1.125B
YoY Change 392.36% 5.53%
Total Long-Term Liabilities $20.11B $1.125B
YoY Change 1687.47% 5.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.394B $3.834B
Total Long-Term Liabilities $20.11B $1.125B
Total Liabilities $24.52B $22.83B
YoY Change 11.59% 5.36%
SHAREHOLDERS EQUITY
Retained Earnings $13.17B $12.93B
YoY Change 9.69% 10.16%
Common Stock $5.320B $5.305B
YoY Change 2.8% 3.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.849B $7.010B
YoY Change
Total Liabilities & Shareholders Equity $31.37B $29.84B
YoY Change 7.8% 3.47%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $499.0M $639.0M
YoY Change -1.38% 18.77%
Depreciation, Depletion And Amortization $545.0M $503.0M
YoY Change 6.86% -2.71%
Cash From Operating Activities $1.049B $1.182B
YoY Change 5.85% -0.17%
INVESTING ACTIVITIES
Capital Expenditures -$862.0M -$757.0M
YoY Change 11.37% 63.15%
Acquisitions
YoY Change
Other Investing Activities -$165.0M -$179.0M
YoY Change 1078.57% -371.21%
Cash From Investing Activities -$1.027B -$936.0M
YoY Change 30.33% 135.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 175.0M -984.0M
YoY Change -181.78% 12.33%
NET CHANGE
Cash From Operating Activities 1.049B 1.182B
Cash From Investing Activities -1.027B -936.0M
Cash From Financing Activities 175.0M -984.0M
Net Change In Cash 197.0M -738.0M
YoY Change -1890.91% 720.0%
FREE CASH FLOW
Cash From Operating Activities $1.049B $1.182B
Capital Expenditures -$862.0M -$757.0M
Free Cash Flow $1.911B $1.939B
YoY Change 8.27% 17.66%

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us-gaap Profit Loss
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 12pt 7.2pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments held within our restricted funds, and accounts receivable. We make efforts to control our exposure to credit risk associated with these instruments by (i) placing our assets and other financial interests with a diverse group of credit-worthy financial institutions; (ii) holding high-quality financial instruments while limiting investments in any one instrument and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures, although generally we do not have collateral requirements for credit extensions. We also control our exposure associated with trade receivables by discontinuing service, to the extent allowable, to non-paying customers. However, our overall credit risk associated with trade receivables is limited due to the large number and diversity of customers we serve.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 7.2pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">When necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation and are not material to our consolidated financial statements. </p>
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P18M
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us-gaap Effective Income Tax Rate Continuing Operations
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16000000
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17
CY2022Q3 wm Environmental Remediation Reasonably Possible Additional Losses High Estimate
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140000000
CY2022Q3 us-gaap Accrual For Environmental Loss Contingencies
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202000000
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73
CY2022Q3 wm Number Of Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
73
CY2022Q3 wm Number Of Owned Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfOwnedSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
14
CY2022Q3 wm Number Of Non Owned Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfNonOwnedSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
59
CY2022Q3 wm Disclosure Required Under Item One Zero Three Of Secs Regulation Sk
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1000000
wm Multiemployer Plans Collective Bargaining Arrangement Percentage Of Participant
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CY2022Q3 us-gaap Common Stock Shares Outstanding
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410500000
CY2021Q3 us-gaap Common Stock Shares Outstanding
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us-gaap Weighted Average Number Of Shares Issued Basic
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3500000
us-gaap Weighted Average Number Of Shares Issued Basic
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WeightedAverageNumberOfSharesOutstandingBasic
412000000.0
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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419500000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
414000000.0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
421300000
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CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2500000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2200000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2300000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
414300000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
422000000.0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
416200000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
423600000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5300000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5800000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5300000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5800000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5075000000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
942000000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4665000000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
806000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14763000000
us-gaap Operating Income Loss
OperatingIncomeLoss
2600000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13253000000
us-gaap Operating Income Loss
OperatingIncomeLoss
2247000000
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
26000000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5075000000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4665000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14763000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13253000000
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
60000000
wm Gain Loss From Divestitures Asset Impairments And Unusual Items
GainLossFromDivestituresAssetImpairmentsAndUnusualItems
-17000000
CY2021Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
8000000
CY2021Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
35000000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
20000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
6000000
CY2022Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
437000000

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