2024 Q1 Form 10-K Financial Statement

#000010577024000015 Filed on February 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $695.4M $732.0M $2.950B
YoY Change -2.96% 3.29% 2.18%
Cost Of Revenue $465.2M $453.8M $1.821B
YoY Change 4.47% 1.61% 3.99%
Gross Profit $230.2M $278.2M $1.129B
YoY Change -15.15% 6.14% -0.62%
Gross Profit Margin 33.1% 38.01% 38.28%
Selling, General & Admin $86.70M $90.00M $353.4M
YoY Change 0.81% 5.02% 11.52%
% of Gross Profit 37.66% 32.35% 31.3%
Research & Development $17.60M $18.40M $68.40M
YoY Change 2.92% 15.72% 16.92%
% of Gross Profit 7.65% 6.61% 6.06%
Depreciation & Amortization $35.60M $35.90M $137.3M
YoY Change 15.96% 15.43% 13.85%
% of Gross Profit 15.46% 12.9% 12.16%
Operating Expenses $105.6M $117.3M $453.2M
YoY Change 2.42% 9.83% 20.72%
Operating Profit $124.6M $160.9M $676.0M
YoY Change -19.77% 3.61% -7.9%
Interest Expense $3.400M $8.200M $19.00M
YoY Change 54.55% 272.73% 140.51%
% of Operating Profit 2.73% 5.1% 2.81%
Other Income/Expense, Net $4.600M -$900.0K -$800.0K
YoY Change 76.92% 12.5% -98.52%
Pretax Income $127.4M $168.2M $698.0M
YoY Change -19.32% 30.69% 76.98%
Income Tax $16.40M $34.50M $122.3M
% Of Pretax Income 12.87% 20.51% 17.52%
Net Earnings $115.3M $137.0M $593.4M
YoY Change -17.64% 33.01% 1.28%
Net Earnings / Revenue 16.58% 18.72% 20.12%
Basic Earnings Per Share $1.57 $7.98
Diluted Earnings Per Share $1.55 $1.83 $7.88
COMMON SHARES
Basic Shares Outstanding 73.30M shares 73.99M shares 74.30M shares
Diluted Shares Outstanding 74.30M shares 75.30M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $601.8M $853.9M $853.9M
YoY Change -32.1% -4.52% -4.52%
Cash & Equivalents $601.8M $853.9M $853.9M
Short-Term Investments
Other Short-Term Assets $137.2M $135.8M $135.8M
YoY Change 51.6% 31.84% 31.84%
Inventory $429.9M $434.7M $434.7M
Prepaid Expenses
Receivables $524.0M $512.0M $512.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.693B $1.936B $1.936B
YoY Change -12.61% 0.88% 0.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.545B $1.413B $1.513B
YoY Change 27.17% 22.02% 19.78%
Goodwill $107.6M $108.5M
YoY Change -0.19% 1.12%
Intangibles $13.90M $15.10M
YoY Change -21.91% -17.93%
Long-Term Investments $202.5M $203.2M $210.0M
YoY Change 0.8% 3.15% 2.49%
Other Assets $40.00M $21.30M $47.00M
YoY Change 8.99% -44.09% -54.81%
Total Long-Term Assets $1.909B $1.893B $1.893B
YoY Change 6.89% 11.54% 11.54%
TOTAL ASSETS
Total Short-Term Assets $1.693B $1.936B $1.936B
Total Long-Term Assets $1.909B $1.893B $1.893B
Total Assets $3.602B $3.830B $3.830B
YoY Change -3.26% 5.88% 5.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $240.1M $242.4M $242.4M
YoY Change 2.69% 12.53% 12.53%
Accrued Expenses $84.50M $123.6M $179.0M
YoY Change 3.17% 30.24% 12.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $133.4M $134.0M $134.0M
YoY Change 5963.64% 5990.91% 5990.91%
Total Short-Term Liabilities $648.4M $671.8M $671.8M
YoY Change 21.22% 29.44% 29.44%
LONG-TERM LIABILITIES
Long-Term Debt $72.80M $72.80M $72.80M
YoY Change -64.68% -64.78% -64.78%
Other Long-Term Liabilities $187.8M $58.50M $191.2M
YoY Change 236.56% 13.37% -0.36%
Total Long-Term Liabilities $260.6M $131.3M $264.0M
YoY Change -0.5% -49.17% -33.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $648.4M $671.8M $671.8M
Total Long-Term Liabilities $260.6M $131.3M $264.0M
Total Liabilities $921.7M $948.5M $948.5M
YoY Change -2.71% 1.78% 1.78%
SHAREHOLDERS EQUITY
Retained Earnings $3.624B $3.523B
YoY Change 16.4% 17.93%
Common Stock $18.80M $18.80M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.681B $2.881B $2.881B
YoY Change
Total Liabilities & Shareholders Equity $3.602B $3.830B $3.830B
YoY Change -3.26% 5.88% 5.88%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $115.3M $137.0M $593.4M
YoY Change -17.64% 33.01% 1.28%
Depreciation, Depletion And Amortization $35.60M $35.90M $137.3M
YoY Change 15.96% 15.43% 13.85%
Cash From Operating Activities $118.2M $239.1M $776.5M
YoY Change -14.41% 3.6% 7.25%
INVESTING ACTIVITIES
Capital Expenditures $90.60M $108.7M $362.0M
YoY Change 10.35% 14.54% 27.2%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $6.700M
YoY Change -200.0% 86.11%
Cash From Investing Activities -$90.60M -$108.8M -$368.7M
YoY Change 10.35% 14.77% 27.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -271.0M -189.5M -$459.6M
YoY Change 281.69% 1894.74% 56.54%
NET CHANGE
Cash From Operating Activities 118.2M 239.1M $776.5M
Cash From Investing Activities -90.60M -108.8M -$368.7M
Cash From Financing Activities -271.0M -189.5M -$459.6M
Net Change In Cash -243.4M -59.20M -$40.40M
YoY Change 2942.5% -146.8% -130.68%
FREE CASH FLOW
Cash From Operating Activities $118.2M $239.1M $776.5M
Capital Expenditures $90.60M $108.7M $362.0M
Free Cash Flow $27.60M $130.4M $414.5M
YoY Change -50.71% -4.05% -5.67%

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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022Q4 us-gaap Dividends Payable Current
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CY2021Q4 us-gaap Dividends Payable Current
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CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
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175100000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2023Q4 us-gaap Inventory Net
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CY2022Q4 us-gaap Inventory Net
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CY2023Q4 us-gaap Contract With Customer Liability
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CY2023 wst Contract With Customer Liability Revenue Recognized From Deferred Income
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CY2023 us-gaap Contract With Customer Liability Revenue Recognized
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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345.56
CY2023 us-gaap Treasury Stock Shares Acquired
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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61700000 usd
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15100000 usd
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CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
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AuditorName
PricewaterhouseCoopers LLP
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AuditorLocation
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