Income Statement | | | | | | | | | | | | |
| | | | | | | | | | | | Press Release |
USD | Fiscal Year Ending | | Latest |
(in millions) | Dec-15 | Dec-16 | Dec-17 | Dec-18 | Dec-19 | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 |
| FY - 9 | FY - 8 | FY - 7 | FY - 6 | FY - 5 | FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM |
| | | | | | | | | | | | |
Revenue | 650 | 721 | 808 | 930 | 933 | 961 | 1,631 | 2,475 | 2,286 | 2,004 | | 2,004 |
% Growth | NA | 11.0% | 12.0% | 15.1% | 0.2% | 3.1% | 69.6% | 51.8% | -7.7% | -12.3% | | |
| | | | | | | | | | | | |
Cost of Revenue | (449) | (501) | (541) | (619) | (650) | (726) | (1,179) | (1,632) | (1,799) | (1,799) | | (1,799) |
Gross Profit | 201 | 220 | 267 | 311 | 282 | 235 | 452 | 844 | 487 | 205 | | 205 |
% Revenue | 31.0% | 30.5% | 33.1% | 33.4% | 30.3% | 24.4% | 27.7% | 34.1% | 21.3% | 10.2% | | 10.2% |
| | | | | | | | | | | | |
Research and Development | (51) | (48) | (50) | (45) | (63) | (108) | (86) | (161) | (207) | 0 | | 0 |
Selling and Marketing | (7) | (7) | (7) | (8) | (9) | (8) | (11) | (12) | (10) | (10) | | (10) |
General and Admin | (105) | (97) | (106) | (122) | (170) | (261) | (199) | (267) | (323) | (351) | | (351) |
Other Inc / (Exp) | 87 | 84 | 64 | 66 | 104 | 176 | 140 | 106 | 265 | 119 | | 119 |
Total Operating Exp | (76) | (68) | (99) | (109) | (137) | (202) | (155) | (334) | (274) | (242) | | (242) |
| | | | | | | | | | | | |
Operating Income | 125 | 152 | 168 | 202 | 145 | 33 | 296 | 509 | 213 | (37) | | (37) |
% Revenue | 19.2% | 21.1% | 20.8% | 21.8% | 15.6% | 3.4% | 18.2% | 20.6% | 9.3% | -1.8% | | -1.8% |
| | | | | | | | | | | | |
Interest Expense | 0 | 1 | 5 | 19 | 36 | 13 | 0 | (13) | (39) | (97) | | (97) |
Pre-tax Income | 125 | 153 | 172 | 221 | 182 | 46 | 296 | 496 | 174 | (134) | | (134) |
Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Provision for Taxes | (13) | (25) | (27) | (35) | (27) | (13) | (65) | (89) | (47) | (7) | | (7) |
Net Income to Company | 113 | 129 | 145 | 186 | 155 | 33 | 231 | 407 | 126 | (140) | | (140) |
% Margin | 17.3% | 17.9% | 18.0% | 20.0% | 16.6% | 3.5% | 14.2% | 16.4% | 5.5% | -7.0% | | -7.0% |
| | | | | | | | | | | | |
Minority Interest in Earnings | 0 | 0 | 0 | (2) | 7 | 66 | 31 | 43 | 154 | 198 | | 198 |
Net Income to Stockholders | 113 | 129 | 145 | 183 | 162 | 99 | 261 | 450 | 280 | 58 | | 58 |
| | | | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Other Adj. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
| | | | | | | | | | | | |
Net Income to Common | 113 | 129 | 145 | 183 | 162 | 99 | 261 | 450 | 280 | 58 | | 58 |
% Margin | 17.3% | 17.9% | 18.0% | 19.7% | 17.4% | 10.3% | 16.0% | 18.2% | 12.2% | 2.9% | | 2.9% |
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As Reported | | | | | | | | | | | | |
Basic EPS (Continuing Ops) | 0.11 | 0.12 | 0.14 | 0.17 | 0.13 | 0.08 | 0.20 | 0.35 | 0.19 | 0.03 | | 0.03 |
Diluted EPS (Continuing Ops) | 0.11 | 0.12 | 0.14 | 0.17 | 0.13 | 0.08 | 0.20 | 0.34 | 0.19 | 0.03 | | 0.03 |
| | | | | | | | | | | | |
WA Basic Shares Out. | 1,033.87 | 1,033.87 | 1,034.43 | 1,070.70 | 1,285.59 | 1,293.23 | 1,300.17 | 1,303.40 | 1,477.98 | 1,717.35 | | 1,717.35 |
WA Diluted Shares Out. | 1,034.82 | 1,037.29 | 1,043.37 | 1,082.45 | 1,295.54 | 1,310.61 | 1,320.17 | 1,313.95 | 1,486.53 | 1,721.09 | | 1,721.09 |
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EBITDA, EBIT Reconciliation | | | | | | | | | | | | |
EBT, Incl. Unusual Items | 125 | 153 | 172 | 221 | 182 | 46 | 296 | 496 | 174 | (134) | | (134) |
Addback: Net Interest Expense | (0) | (1) | (5) | (19) | (36) | (13) | (0) | 13 | 39 | 97 | | 97 |
Addback: Other Non Operating Expenses, Total | (35) | (36) | (17) | (17) | (37) | (67) | (54) | 55 | (59) | (119) | | (119) |
Addback: Depreciation & Amortization | 74 | 81 | 101 | 116 | 123 | 197 | 307 | 445 | 486 | 556 | | 556 |
Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | (4) | (4) | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Assets | (0) | (0) | 0 | 0 | (1) | 0 | 0 | (0) | 0 | 0 | | 0 |
Addback: Asset Writedown | (0) | (0) | 2 | (0) | (0) | (0) | (0) | (0) | (0) | 0 | | 0 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Other Unusual Items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Adjusted EBITDA | 163 | 197 | 255 | 297 | 226 | 162 | 549 | 1,010 | 640 | 400 | | 400 |
% Margin | 25.1% | 27.3% | 31.5% | 32.0% | 24.3% | 16.9% | 33.7% | 40.8% | 28.0% | 20.0% | | 20.0% |
| | | | | | | | | | | | |
Adjusted EBIT | 89 | 116 | 154 | 181 | 104 | (35) | 242 | 565 | 154 | (156) | | (156) |
% Margin | 13.7% | 16.1% | 19.0% | 19.5% | 11.1% | -3.6% | 14.8% | 22.8% | 6.7% | -7.8% | | -7.8% |
| | | | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | | | |
Net Income to Company | 113 | 129 | 145 | 186 | 155 | 33 | 231 | 407 | 126 | (140) | | (140) |
Addback: Unusual Items | (0) | (0) | 3 | (4) | (5) | (0) | (0) | (0) | 0 | 0 | | 0 |
Less: Tax Benefit of Unusual Items (26%) | 0 | 0 | (1) | 1 | 1 | 0 | 0 | 0 | (0) | (0) | | (0) |
Adjusted Net Income | 112 | 129 | 147 | 182 | 151 | 33 | 231 | 407 | 127 | (140) | | (140) |
% Margin | 17.3% | 17.8% | 18.2% | 19.6% | 16.2% | 3.5% | 14.2% | 16.4% | 5.5% | -7.0% | | -7.0% |