Income Statement | | | | | | | | | | |
| | | | | | | Press Release | | | |
USD | Fiscal Year Ending | | Latest | | Year-to-date Ending |
(in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 | | Dec-23 | Dec-24 |
| FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM | | YTD-1 | YTD |
| | | | | | | | | | |
Revenue | 9,606 | 6,375 | 6,803 | 7,683 | 8,208 | | 8,208 | | 7,683 | 8,208 |
% Growth | NA | -33.6% | 6.7% | 12.9% | 6.8% | | | | | 6.8% |
| | | | | | | | | | |
Cost of Revenue | (8,853) | (5,983) | (6,163) | (6,794) | (7,568) | | (7,568) | | (6,794) | (7,568) |
Gross Profit | 753 | 392 | 640 | 889 | 640 | | 640 | | 889 | 640 |
% Revenue | 7.8% | 6.1% | 9.4% | 11.6% | 7.8% | | 7.8% | | 11.6% | 7.8% |
| | | | | | | | | | |
Research and Development | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Selling and Marketing | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
General and Admin | (313) | (167) | (203) | (268) | (326) | | (326) | | (268) | (326) |
Other Inc / (Exp) | (176) | 2 | 748 | (654) | (1,557) | | (1,557) | | (654) | (1,557) |
Total Operating Exp | (489) | (165) | 545 | (922) | (1,883) | | (1,883) | | (922) | (1,883) |
| | | | | | | | | | |
Operating Income | 264 | 227 | 1,185 | (33) | (1,243) | | (1,243) | | (33) | (1,243) |
% Revenue | 2.7% | 3.6% | 17.4% | -0.4% | -15.1% | | -15.1% | | -0.4% | -15.1% |
| | | | | | | | | | |
Interest Expense | (405) | (210) | (523) | (878) | (832) | | (832) | | (878) | (832) |
Pre-tax Income | (141) | 17 | 662 | (911) | (2,075) | | (2,075) | | (911) | (2,075) |
Earnings of Discontinued Ops. | 0 | 81 | 380 | 3,812 | 0 | | 0 | | 3,812 | 0 |
Provision for Taxes | 14 | (5) | 34 | (72) | 148 | | 148 | | (72) | 148 |
Net Income to Company | (127) | 93 | 1,076 | 2,829 | (1,927) | | (1,927) | | 2,829 | (1,927) |
% Margin | -1.3% | 1.5% | 15.8% | 36.8% | -23.5% | | -23.5% | | 36.8% | -23.5% |
| | | | | | | | | | |
Minority Interest in Earnings | (37) | (57) | (165) | (2,310) | 1,039 | | 1,039 | | (2,310) | 1,039 |
Net Income to Stockholders | (164) | 36 | 911 | 519 | (888) | | (888) | | 519 | (888) |
| | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Other Adj. | 0 | (81) | (380) | (3,812) | 0 | | 0 | | (3,812) | 0 |
| | | | | | | | | | |
Net Income to Common | (164) | (45) | 531 | (3,293) | (888) | | (888) | | (3,293) | (888) |
% Margin | -1.7% | -0.7% | 7.8% | -42.9% | -10.8% | | -10.8% | | -42.9% | -10.8% |
| | | | | | | | | | |
As Reported | | | | | | | | | | |
Basic EPS (Continuing Ops) | 0.00 | 0.00 | 7.28 | (45.14) | (12.17) | | (12.17) | | (45.14) | (12.17) |
Diluted EPS (Continuing Ops) | 0.00 | 0.00 | 7.28 | (45.14) | (12.17) | | (12.17) | | (45.14) | (12.17) |
| | | | | | | | | | |
WA Basic Shares Out. | 0.00 | 0.00 | 72.96 | 72.95 | 72.95 | | 72.95 | | 72.95 | 72.95 |
WA Diluted Shares Out. | 0.00 | 0.00 | 72.96 | 72.95 | 72.95 | | 72.95 | | 72.95 | 72.95 |
| | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | |
EBT, Incl. Unusual Items | (141) | 17 | 662 | (911) | (2,075) | | (2,075) | | (911) | (2,075) |
Addback: Net Interest Expense | 405 | 210 | 523 | 878 | 832 | | 832 | | 878 | 832 |
Addback: Other Non Operating Expenses, Total | 27 | (13) | (885) | 325 | 866 | | 866 | | 325 | 866 |
Addback: Depreciation & Amortization | 585 | 603 | 589 | 652 | 779 | | 779 | | 652 | 779 |
Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Merger / Acquisition Expenses | 31 | 0 | 27 | 9 | 0 | | 0 | | 9 | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Assets | (55) | 0 | (5) | (87) | 0 | | 0 | | (87) | 0 |
Addback: Asset Writedown | 0 | 0 | 21 | 606 | 691 | | 691 | | 606 | 691 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Other Unusual Items | 173 | 11 | 94 | (199) | 0 | | 0 | | (199) | 0 |
Adjusted EBITDA | 1,025 | 828 | 1,026 | 1,273 | 1,093 | | 1,093 | | 1,273 | 1,093 |
% Margin | 10.7% | 13.0% | 15.1% | 16.6% | 13.3% | | 13.3% | | 16.6% | 13.3% |
| | | | | | | | | | |
Adjusted EBIT | 440 | 225 | 437 | 621 | 314 | | 314 | | 621 | 314 |
% Margin | 4.6% | 3.5% | 6.4% | 8.1% | 3.8% | | 3.8% | | 8.1% | 3.8% |
| | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | |
Net Income to Company | (127) | 93 | 1,076 | 2,829 | (1,927) | | (1,927) | | 2,829 | (1,927) |
Addback: Unusual Items | 149 | 11 | 137 | 329 | 691 | | 691 | | 329 | 691 |
Less: Tax Benefit of Unusual Items (26%) | (39) | (3) | (36) | (86) | (180) | | (180) | | (86) | (180) |
Adjusted Net Income | (17) | 101 | 1,177 | 3,072 | (1,416) | | (1,416) | | 3,072 | (1,416) |
% Margin | -0.2% | 1.6% | 17.3% | 40.0% | -17.2% | | -17.2% | | 40.0% | -17.2% |