2022 Q4 Form 10-Q Financial Statement

#000095017022020842 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $1.092B $1.090B
YoY Change -15.01% -15.29%
Cost Of Revenue $681.0M $637.3M
YoY Change -4.8% -11.5%
Gross Profit $410.9M $452.3M
YoY Change -27.85% -20.12%
Gross Profit Margin 37.63% 41.51%
Selling, General & Admin $259.3M $220.5M
YoY Change 2.61% -10.95%
% of Gross Profit 63.11% 48.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.30M $44.80M
YoY Change -3.34% -12.67%
% of Gross Profit 11.27% 9.9%
Operating Expenses $259.3M $220.5M
YoY Change 2.61% -10.95%
Operating Profit $151.6M $231.8M
YoY Change -52.15% -27.24%
Interest Expense -$19.60M -$20.30M
YoY Change -187.5% -19.76%
% of Operating Profit -12.93% -8.76%
Other Income/Expense, Net -$12.40M -$38.10M
YoY Change -92.17% 40.59%
Pretax Income $216.5M $193.7M
YoY Change 19.68% -33.55%
Income Tax -$32.90M $19.80M
% Of Pretax Income -15.2% 10.22%
Net Earnings $249.4M $173.9M
YoY Change 47.75% -25.27%
Net Earnings / Revenue 22.84% 15.96%
Basic Earnings Per Share $0.45
Diluted Earnings Per Share $0.65 $0.45
COMMON SHARES
Basic Shares Outstanding 386.2M 385.8M
Diluted Shares Outstanding 387.6M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.286B $1.176B
YoY Change 6.42% 17.21%
Cash & Equivalents $1.286B $1.176B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.286B $1.176B
YoY Change 6.42% 17.21%
LONG-TERM ASSETS
Property, Plant & Equipment $109.6M $112.0M
YoY Change -15.3% -14.83%
Goodwill $2.035B $2.035B
YoY Change 0.0% 0.0%
Intangibles $457.9M $466.2M
YoY Change 9.78% 5.71%
Long-Term Investments $41.40M
YoY Change 7.81%
Other Assets $303.1M $867.3M
YoY Change -79.55% -42.21%
Total Long-Term Assets $7.210B $7.725B
YoY Change -5.32% -1.81%
TOTAL ASSETS
Total Short-Term Assets $1.286B $1.176B
Total Long-Term Assets $7.210B $7.725B
Total Assets $8.496B $8.901B
YoY Change -3.71% 0.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $464.0M $435.7M
YoY Change 3.07% -1.63%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $180.0M $175.0M
YoY Change -34.55% 45.83%
Long-Term Debt Due $300.0M $0.00
YoY Change
Total Short-Term Liabilities $1.669B $1.461B
YoY Change 4.6% 2.3%
LONG-TERM LIABILITIES
Long-Term Debt $2.137B $2.436B
YoY Change -21.83% -10.85%
Other Long-Term Liabilities $4.054B $4.315B
YoY Change 3.03% 4.33%
Total Long-Term Liabilities $6.191B $6.751B
YoY Change -7.16% -1.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.669B $1.461B
Total Long-Term Liabilities $6.191B $6.751B
Total Liabilities $8.019B $8.373B
YoY Change -5.31% -1.52%
SHAREHOLDERS EQUITY
Retained Earnings -$353.9M -$337.4M
YoY Change -34.12% -22.72%
Common Stock $999.6M $986.9M
YoY Change 5.79% 5.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $477.8M $528.3M
YoY Change
Total Liabilities & Shareholders Equity $8.496B $8.901B
YoY Change -3.71% 0.34%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $249.4M $173.9M
YoY Change 47.75% -25.27%
Depreciation, Depletion And Amortization $46.30M $44.80M
YoY Change -3.34% -12.67%
Cash From Operating Activities $59.20M $215.6M
YoY Change -83.52% -35.93%
INVESTING ACTIVITIES
Capital Expenditures $47.20M -$31.10M
YoY Change -318.52% 38.84%
Acquisitions
YoY Change
Other Investing Activities $206.0M $105.5M
YoY Change -62.31% -125.53%
Cash From Investing Activities $158.8M $74.40M
YoY Change -69.75% -117.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -287.0M -102.3M
YoY Change -45.23% -54.81%
NET CHANGE
Cash From Operating Activities 59.20M 215.6M
Cash From Investing Activities 158.8M 74.40M
Cash From Financing Activities -287.0M -102.3M
Net Change In Cash -69.00M 187.7M
YoY Change -119.16% -157.67%
FREE CASH FLOW
Cash From Operating Activities $59.20M $215.6M
Capital Expenditures $47.20M -$31.10M
Free Cash Flow $12.00M $246.7M
YoY Change -96.85% -31.26%

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us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:12.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:12.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.</span></p>
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CY2022Q3 wu Financing Receivable Losses Not Credit Related
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wu Variable Rate Demand Notes Maximum Maturity Year
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CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
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CY2022Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021Q3 us-gaap Dividends Common Stock Cash
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CY2021Q1 us-gaap Dividends Common Stock Cash
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wu Stock Repurchased And Retired During Period Excluding Wtc Shares
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wu Stock Repurchased And Retired During Period Excluding Wt Cand Commissions Value
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wu Stock Repurchased And Retired During Period Excluding Wtc And Commissions Average Cost Per Share
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wu Stock Repurchased And Retired During Period Excluding Wtc And Commissions Average Cost Per Share
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CY2022Q3 us-gaap Derivative Asset Not Subject To Master Netting Arrangement
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CY2021Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
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CY2021Q4 us-gaap Derivative Asset Not Subject To Master Netting Arrangement
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CY2022Q3 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
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CY2021Q4 us-gaap Derivative Liability Not Subject To Master Netting Arrangement
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183800000
CY2022Q3 us-gaap Revenues
Revenues
1089600000
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
25200000
CY2021Q3 us-gaap Revenues
Revenues
1286300000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
25700000
us-gaap Revenues
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3383600000
us-gaap Interest Expense Debt
InterestExpenseDebt
74800000
us-gaap Revenues
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us-gaap Interest Expense Debt
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2022Q3 wu Foreign Exchange Gain Loss On Settlement Assets And Obligations Other Assets And Other Liabilities And Cash Balances
ForeignExchangeGainLossOnSettlementAssetsAndObligationsOtherAssetsAndOtherLiabilitiesAndCashBalances
40600000
CY2021Q3 wu Foreign Exchange Gain Loss On Settlement Assets And Obligations Other Assets And Other Liabilities And Cash Balances
ForeignExchangeGainLossOnSettlementAssetsAndObligationsOtherAssetsAndOtherLiabilitiesAndCashBalances
25700000
wu Foreign Exchange Gain Loss On Settlement Assets And Obligations Other Assets And Other Liabilities And Cash Balances
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90400000
wu Foreign Exchange Gain Loss On Settlement Assets And Obligations Other Assets And Other Liabilities And Cash Balances
ForeignExchangeGainLossOnSettlementAssetsAndObligationsOtherAssetsAndOtherLiabilitiesAndCashBalances
50700000
CY2022Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months
59800000
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2625000000.0
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
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CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
14000000.0
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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16600000
CY2022Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2611000000.0
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
3008400000
CY2022Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.038
CY2022Q3 us-gaap Operating Income Loss
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231800000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
318600000
us-gaap Operating Income Loss
OperatingIncomeLoss
733300000
us-gaap Operating Income Loss
OperatingIncomeLoss
806300000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
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300000000.0
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
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500000000.0
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
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600000000.0
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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1050000000.0
CY2022Q3 us-gaap Long Term Debt
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2450000000.0
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
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0.102
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
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0.202
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.165
us-gaap Effective Income Tax Rate Continuing Operations
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0.156
CY2022Q3 us-gaap Unrecognized Tax Benefits
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356100000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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376300000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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9600000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8400000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32600000
us-gaap Allocated Share Based Compensation Expense
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31200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
600000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.62
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
3600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
19.94
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6400000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.68
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3600000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.16
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6900000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
21.43
CY2022Q3 us-gaap Revenues
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1089600000
CY2021Q3 us-gaap Revenues
Revenues
1286300000
us-gaap Revenues
Revenues
3383600000
us-gaap Revenues
Revenues
3786000000.0

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