2023 Q3 Form 10-K Financial Statement

#000089541923000061 Filed on August 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $197.4M $235.8M $921.9M
YoY Change -18.19% 3.19% 23.55%
Cost Of Revenue $172.7M $171.2M $642.4M
YoY Change 7.0% 14.44% 29.28%
Gross Profit $24.70M $64.60M $279.5M
YoY Change -69.09% -18.12% 12.11%
Gross Profit Margin 12.51% 27.4% 30.32%
Selling, General & Admin $64.10M $64.10M $235.3M
YoY Change 16.55% 16.55% 15.63%
% of Gross Profit 259.51% 99.23% 84.19%
Research & Development $44.10M $57.10M $225.4M
YoY Change -20.11% 18.46% 14.77%
% of Gross Profit 178.54% 88.39% 80.64%
Depreciation & Amortization $40.10M $45.80M $164.0M
YoY Change 5.53% 43.57% 26.35%
% of Gross Profit 162.35% 70.9% 58.68%
Operating Expenses $108.2M $136.7M $497.9M
YoY Change -1.81% 28.72% 24.51%
Operating Profit -$94.90M -$72.10M -$218.4M
YoY Change 25.36% 164.1% -11.86%
Interest Expense $61.70M $4.200M $42.60M
YoY Change 1185.42% -240.0% 69.72%
% of Operating Profit
Other Income/Expense, Net -$28.50M -$1.300M $52.10M
YoY Change -157.34% -425.0% -236.03%
Pretax Income -$123.4M -$113.0M -$328.5M
YoY Change 374.62% 83.74% 14.82%
Income Tax $200.0K $300.0K $1.400M
% Of Pretax Income
Net Earnings -$395.7M -$113.3M -$329.9M
YoY Change 1410.31% -449.69% 64.21%
Net Earnings / Revenue -200.46% -48.05% -35.78%
Basic Earnings Per Share -$3.16 -$2.65
Diluted Earnings Per Share -$3.16 -$0.91 -$2.65
COMMON SHARES
Basic Shares Outstanding 125.3M shares 124.5M shares 124.4M shares
Diluted Shares Outstanding 125.1M shares 124.4M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.348B $2.955B $2.955B
YoY Change 179.62% 146.49% 146.49%
Cash & Equivalents $1.762B $2.955B $2.955B
Short-Term Investments $1.586B $1.198B $1.198B
Other Short-Term Assets $153.7M $187.7M $187.7M
YoY Change 24.15% 23.98% 1.4%
Inventory $340.9M $327.5M $327.5M
Prepaid Expenses $69.20M $36.80M
Receivables $154.2M $154.8M $154.8M
Other Receivables $400.0K $800.0K $800.0K
Total Short-Term Assets $4.080B $3.626B $3.626B
YoY Change 132.57% 105.73% 105.73%
LONG-TERM ASSETS
Property, Plant & Equipment $2.552B $2.204B $2.204B
YoY Change 66.86% 44.09% 44.09%
Goodwill $359.2M $359.2M
YoY Change 0.0% 0.0%
Intangibles $24.70M $115.9M
YoY Change -79.87% -7.58%
Long-Term Investments
YoY Change
Other Assets $392.1M $313.3M $313.3M
YoY Change 340.56% 274.31% 765.47%
Total Long-Term Assets $3.233B $2.995B $2.995B
YoY Change 53.64% 38.97% 38.97%
TOTAL ASSETS
Total Short-Term Assets $4.080B $3.626B $3.626B
Total Long-Term Assets $3.233B $2.995B $2.995B
Total Assets $7.313B $6.621B $6.621B
YoY Change 89.52% 69.0% 69.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.90M $570.9M $570.9M
YoY Change 16.1% 887.72% 887.72%
Accrued Expenses $490.6M $97.30M $499.9M
YoY Change 1305.73% 216.94% 331.32%
Deferred Revenue $44.80M $43.00M
YoY Change 19.79% 16.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $500.0K $500.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $749.3M $661.9M $661.9M
YoY Change 96.77% 70.37% 70.37%
LONG-TERM LIABILITIES
Long-Term Debt $5.169B $4.184B $4.184B
YoY Change 294.45% 305.77% 305.77%
Other Long-Term Liabilities $145.1M $148.7M $148.7M
YoY Change 166.73% 168.9% 168.9%
Total Long-Term Liabilities $5.318B $4.333B $4.333B
YoY Change 288.7% 297.63% 298.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $749.3M $661.9M $661.9M
Total Long-Term Liabilities $5.318B $4.333B $4.333B
Total Liabilities $6.067B $4.999B $4.999B
YoY Change 246.91% 238.17% 238.17%
SHAREHOLDERS EQUITY
Retained Earnings -$2.460B -$2.064B
YoY Change 39.73% 17.02%
Common Stock $200.0K $200.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.246B $1.622B $1.622B
YoY Change
Total Liabilities & Shareholders Equity $7.313B $6.621B $6.621B
YoY Change 89.52% 69.0% 69.0%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$395.7M -$113.3M -$329.9M
YoY Change 1410.31% -449.69% 64.21%
Depreciation, Depletion And Amortization $40.10M $45.80M $164.0M
YoY Change 5.53% 43.57% 26.35%
Cash From Operating Activities -$147.4M -$51.90M -$142.6M
YoY Change 1060.63% 68.51% -7.52%
INVESTING ACTIVITIES
Capital Expenditures $442.0M $427.4M $962.3M
YoY Change 297.84% -485.39% 49.22%
Acquisitions
YoY Change
Other Investing Activities -$342.6M $281.1M -$184.7M
YoY Change -259.05% 187.13% -171.15%
Cash From Investing Activities -$785.9M -$146.3M -$1.147B
YoY Change -864.49% 1025.38% 193.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.80M
YoY Change 6.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $938.4M 1.160B 2.597B
YoY Change -5431.82% 15164.47% 321.68%
NET CHANGE
Cash From Operating Activities -$147.4M -51.90M -142.6M
Cash From Investing Activities -$785.9M -146.3M -1.147B
Cash From Financing Activities $938.4M 1.160B 2.597B
Net Change In Cash $5.000M 961.9M 1.308B
YoY Change -93.07% -2757.18% 1754.61%
FREE CASH FLOW
Cash From Operating Activities -$147.4M -$51.90M -$142.6M
Capital Expenditures $442.0M $427.4M $962.3M
Free Cash Flow -$589.4M -$479.3M -$1.105B
YoY Change 376.09% -698.38% 38.27%

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CY2023 us-gaap Nature Of Operations
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Business<div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Overview</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wolfspeed, Inc. (the Company) is an innovator of wide bandgap semiconductors, focused on silicon carbide and gallium nitride (GaN) materials and devices for power and radio-frequency (RF) applications. The Company’s product families include silicon carbide and GaN materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. As discussed more fully below in Note 17, “Subsequent Events,” on August 22, 2023, the Company entered into a definitive agreement to sell certain assets and subsidiaries comprising its RF products lines.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s materials products and power devices are used in electric vehicles, motor drives, power supplies, solar and transportation applications. The Company’s materials products and RF devices are used in military communications, radar, satellite and telecommunication applications.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company's products are manufactured at its production facilities located in North Carolina, California and Arkansas. The Company also uses contract manufacturers for certain products and aspects of product fabrication, assembly and packaging. Additionally, the Company recently opened its silicon carbide device fabrication facility in New York. The Company operates research and development facilities in North Carolina, California, Arkansas, Arizona and New York.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wolfspeed, Inc. is a North Carolina corporation established in 1987, and its headquarters are in Durham, North Carolina.</span></div>
CY2023 us-gaap Fiscal Period
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<div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:9pt;text-align:justify"><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 is a 52 or 53-week period ending on the last Sunday in the month of June. The Company’s 2023, 2022 and 2021 fiscal years were 52-week fiscal years. The Company's 2024 fiscal year will be a 53-week fiscal year. The next 53-week fiscal year will be for the Company's 2030 fiscal year.</span></div>
CY2023 us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported net loss or shareholders’ equity.</span></div>
CY2023 us-gaap Prior Period Reclassification Adjustment
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:15pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities. The Company evaluates its estimates on an ongoing basis, including those related to revenue recognition, valuation of inventories, tax related contingencies, valuation of stock-based compensation, valuation of long-lived and intangible assets, other contingencies and litigation, among others. The Company generally bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.</span></div>
CY2022Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2021Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47800000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0 usd
CY2023Q2 us-gaap Government Assistance Amount Cumulative
GovernmentAssistanceAmountCumulative
93900000 usd
CY2023 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 reporting_unit
CY2023 us-gaap Advertising Expense
AdvertisingExpense
11500000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
7500000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
5100000 usd
CY2023Q2 wolf Employee Benefit Retirement Savings Plans Number Of Plans
EmployeeBenefitRetirementSavingsPlansNumberOfPlans
1 compensationplan
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
12300000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
10300000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
8000000 usd
CY2023 us-gaap Interest Paid
InterestPaid
29500000 usd
CY2022 us-gaap Interest Paid
InterestPaid
13100000 usd
CY2021 us-gaap Interest Paid
InterestPaid
14100000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2900000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-4400000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11000000 usd
CY2021Q1 wolf Disposal Group Including Discontinued Operation Term Of Continuing Supply Of Materials And Services
DisposalGroupIncludingDiscontinuedOperationTermOfContinuingSupplyOfMaterialsAndServices
P4Y
CY2021Q1 wolf Disposal Group Including Discontinued Operation Term Of Real Estate License Agreement
DisposalGroupIncludingDiscontinuedOperationTermOfRealEstateLicenseAgreement
P24M
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
73800000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
921900000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
746200000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
525600000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
921900000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
746200000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
525600000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
104600000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
48500000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7900000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4600000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
117200000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
43600000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
125100000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
48200000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
9600000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
10300000 usd
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
500000 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
500000 usd
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
9200000 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
9600000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
9700000 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
10100000 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
11000000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
8100000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
5500000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
800000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1200000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
300000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
300000 usd
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
300000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
6700000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8100000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
5700000 usd
CY2023 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-17800000 usd
CY2022 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
0 usd
CY2021 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
0 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
300000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
300000 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
300000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
500000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
500000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
400000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12000000.0 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
700000 usd
CY2023Q2 wolf Lease Liability To Be Paid Year One
LeaseLiabilityToBePaidYearOne
12700000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12100000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
700000 usd
CY2023Q2 wolf Lease Liability To Be Paid Year Two
LeaseLiabilityToBePaidYearTwo
12800000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17100000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
700000 usd
CY2023Q2 wolf Lease Liability To Be Paid Year Three
LeaseLiabilityToBePaidYearThree
17800000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13100000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
400000 usd
CY2023Q2 wolf Lease Liability To Be Paid Year Four
LeaseLiabilityToBePaidYearFour
13500000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12200000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
200000 usd
CY2023Q2 wolf Lease Liability To Be Paid Year Five
LeaseLiabilityToBePaidYearFive
12400000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
104300000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
14000000.0 usd
CY2023Q2 wolf Lease Liability To Be Paid After Year Five
LeaseLiabilityToBePaidAfterYearFive
118300000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
170800000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
16700000 usd
CY2023Q2 wolf Lease Liability Payments Due
LeaseLiabilityPaymentsDue
187500000 usd
CY2023Q2 wolf Lessee Operating Lease Liability Future Tenant Improvement Allowances
LesseeOperatingLeaseLiabilityFutureTenantImprovementAllowances
3700000 usd
CY2023Q2 wolf Lease Liability Future Tenant Improvement Allowances
LeaseLiabilityFutureTenantImprovementAllowances
3700000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42000000.0 usd
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
7000000.0 usd
CY2023Q2 wolf Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
49000000.0 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
125100000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
9700000 usd
CY2023Q2 wolf Lease Liability
LeaseLiability
134800000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P153M
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P473M
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0433
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0267
CY2023Q2 us-gaap Net Rentable Area
NetRentableArea
58000 sqft
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
3600000 usd
CY2023Q2 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P24M
CY2023 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2500000 usd
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3600000 usd
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1200000 usd
CY2022 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
0 usd
CY2023 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
0 usd
CY2021 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
0 usd
CY2023Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
155500000 usd
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
151400000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
700000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1200000 usd
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
154800000 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
150200000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1200000 usd
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
800000 usd
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
700000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-500000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
400000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000 usd
CY2023 wolf Accounts Receivable Allowance For Credit Loss Writeoff Recovery Net
AccountsReceivableAllowanceForCreditLossWriteoffRecoveryNet
0 usd
CY2022 wolf Accounts Receivable Allowance For Credit Loss Writeoff Recovery Net
AccountsReceivableAllowanceForCreditLossWriteoffRecoveryNet
0 usd
CY2021 wolf Accounts Receivable Allowance For Credit Loss Writeoff Recovery Net
AccountsReceivableAllowanceForCreditLossWriteoffRecoveryNet
0 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
700000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1200000 usd
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
800000 usd
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
101800000 usd
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
60200000 usd
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
200400000 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
135900000 usd
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
25300000 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
30900000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
327500000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
227000000.0 usd
CY2023Q2 wolf Reimbursement Receivable On Long Term Incentive Agreement
ReimbursementReceivableOnLongTermIncentiveAgreement
91300000 usd
CY2022Q2 wolf Reimbursement Receivable On Long Term Incentive Agreement
ReimbursementReceivableOnLongTermIncentiveAgreement
132500000 usd
CY2023Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
10100000 usd
CY2022Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
5900000 usd
CY2023Q2 wolf Deposit Assets On Long Term Incentive Agreement Current
DepositAssetsOnLongTermIncentiveAgreementCurrent
10000000.0 usd
CY2022Q2 wolf Deposit Assets On Long Term Incentive Agreement Current
DepositAssetsOnLongTermIncentiveAgreementCurrent
0 usd
CY2023Q2 wolf Deposit Assets Current
DepositAssetsCurrent
6300000 usd
CY2022Q2 wolf Deposit Assets Current
DepositAssetsCurrent
0 usd
CY2023Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
4800000 usd
CY2022Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
200000 usd
CY2023Q2 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
3900000 usd
CY2022Q2 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
3900000 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2200000 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2200000 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
1300000 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
2700000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
1800000 usd
CY2022Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
4000000.0 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
131700000 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
151400000 usd
CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
3282600000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
2468800000 usd
CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
1091200000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
987700000 usd
CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
2191400000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1481100000 usd
CY2023 us-gaap Depreciation
Depreciation
148100000 usd
CY2022 us-gaap Depreciation
Depreciation
100400000 usd
CY2021 us-gaap Depreciation
Depreciation
100500000 usd
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-3700000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000000 usd
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4300000 usd
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
44900000 usd
CY2022Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
57800000 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
66300000 usd
CY2022Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
80600000 usd
CY2023Q2 wolf Accrued Property And Equipment
AccruedPropertyAndEquipment
328400000 usd
CY2022Q2 wolf Accrued Property And Equipment
AccruedPropertyAndEquipment
132100000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
97300000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
37200000 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
536900000 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
307700000 usd
CY2023 wolf Projectand Transaction Expense
ProjectandTransactionExpense
22900000 usd
CY2022 wolf Projectand Transaction Expense
ProjectandTransactionExpense
6600000 usd
CY2021 wolf Projectand Transaction Expense
ProjectandTransactionExpense
7300000 usd
CY2023 wolf Factory Optimization Restructuring Costs
FactoryOptimizationRestructuringCosts
0 usd
CY2022 wolf Factory Optimization Restructuring Costs
FactoryOptimizationRestructuringCosts
6100000 usd
CY2021 wolf Factory Optimization Restructuring Costs
FactoryOptimizationRestructuringCosts
7600000 usd
CY2023 us-gaap Severance Costs1
SeveranceCosts1
3400000 usd
CY2022 us-gaap Severance Costs1
SeveranceCosts1
1200000 usd
CY2021 us-gaap Severance Costs1
SeveranceCosts1
6200000 usd
CY2023 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-26300000 usd
CY2022 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-13900000 usd
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-21100000 usd
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
58200000 usd
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
11800000 usd
CY2021 us-gaap Investment Income Interest
InvestmentIncomeInterest
10100000 usd
CY2023 us-gaap Interest Expense
InterestExpense
42600000 usd
CY2022 us-gaap Interest Expense
InterestExpense
25100000 usd
CY2021 us-gaap Interest Expense
InterestExpense
45400000 usd
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
50300000 usd
CY2022 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 usd
CY2021 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-24800000 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 usd
CY2022 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 usd
CY2021 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
8300000 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
13600000 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
800000 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
800000 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
300000 usd
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
400000 usd
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-200000 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
300000 usd
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1100000 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
52100000 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-38300000 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2023 wolf Income Tax Expense Benefitif Foreign Earningsare Repatriated
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CY2023Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
200000000 usd
CY2023Q1 wolf Purchase Commitment Term
PurchaseCommitmentTerm
P5Y
CY2023 wolf Payments For Purchase Commitment Product
PaymentsForPurchaseCommitmentProduct
12300000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
1100000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
26800000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
36000000 usd
CY2023Q2 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
50100000 usd
CY2023Q2 wolf Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
73700000 usd
CY2023Q2 wolf Purchase Commitment Capacity Reserve
PurchaseCommitmentCapacityReserve
60000000 usd
CY2023 wolf Purchase Commitment Capacity Payment
PurchaseCommitmentCapacityPayment
5500000 usd

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