filings.toolsItem 6. SELECTED FINANCIAL DATA
8K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
The following table summarizes certain selected consolidated financial data for, and as of the end of, each of the fiscal years in the five-year period ended June 30, 2024. The data set forth below should be read together with Item 7 of Part II of this report, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Item 8 of Part II of this report, “Consolidated Financial Statements and Supplementary Data”, and related notes included elsewhere in this report. The consolidated statement of income data for the years ended June 30, 2024, 2023 and 2022 and the consolidated balance sheet data as of June 30, 2024 and 2023 are derived from our audited consolidated financial statements included elsewhere in this report. The consolidated statement of income data for the years ended June 30, 2021 and 2020 and the consolidated balance sheet data as of June 30, 2022, 2021 and 2020 are derived from our audited consolidated financial
-47-
| PART II | Item 6 |
RESMED INC. AND SUBSIDIARIES
statements not included in this report. Historical results do not necessarily indicate the results to be expected in the future, and the results for the years presented should not be considered to indicate our future results of operations.
| Consolidated Statement of Income Data | Years Ended June 30, | |||||||||||||||||||||||||||||||
| (In thousands, except per share data): | 2024 | 2023 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||
| Net revenue | $ | 4,685,297 | $ | 4,222,993 | $ | 3,578,127 | $ | 3,196,825 | $ | 2,957,013 | ||||||||||||||||||||||
| Cost of sales (exclusive of amortization shown separately below) | 1,997,031 | 1,836,935 | 1,514,166 | 1,312,598 | 1,189,624 | |||||||||||||||||||||||||||
| Amortization of acquired intangible assets | 32,963 | 30,396 | 39,650 | 45,127 | 49,603 | |||||||||||||||||||||||||||
| Total cost of sales | 2,029,994 | 1,867,331 | 1,553,816 | 1,357,725 | 1,239,227 | |||||||||||||||||||||||||||
| Gross profit | 2,655,303 | 2,355,662 | 2,024,311 | 1,839,100 | 1,717,786 | |||||||||||||||||||||||||||
| Selling, general and administrative expenses | 917,136 | 874,003 | 737,508 | 670,387 | 676,689 | |||||||||||||||||||||||||||
| Research and development expenses | 307,525 | 287,642 | 253,575 | 225,284 | 201,946 | |||||||||||||||||||||||||||
| Amortization of acquired intangible assets | 46,521 | 42,020 | 31,078 | 31,078 | 30,092 | |||||||||||||||||||||||||||
| Restructuring expenses | 64,228 | 9,177 | — | 8,673 | — | |||||||||||||||||||||||||||
| Litigation settlement expenses | — | — | — | — | (600) | |||||||||||||||||||||||||||
| Acquisition related expenses | — | 10,949 | 1,864 | — | — | |||||||||||||||||||||||||||
| Total operating expenses | 1,335,410 | 1,223,791 | 1,024,025 | 935,422 | 908,127 | |||||||||||||||||||||||||||
| Income from operations | 1,319,893 | 1,131,871 | 1,000,286 | 903,678 | 809,659 | |||||||||||||||||||||||||||
| Other income: | ||||||||||||||||||||||||||||||||
| Interest expense, net | (45,708) | (47,379) | (22,312) | (23,627) | (39,356) | |||||||||||||||||||||||||||
| Loss attributable to equity method investments | (1,848) | (7,265) | (8,486) | (11,205) | (25,058) | |||||||||||||||||||||||||||
| Gain on insurance recoveries | — | 20,227 | — | — | — | |||||||||||||||||||||||||||
| Other, net | (7,539) | 4,210 | (9,005) | 14,816 | (12,157) | |||||||||||||||||||||||||||
| Total other income (loss), net | (55,095) | (30,207) | (39,803) | (20,016) | (76,571) | |||||||||||||||||||||||||||
| Income before income taxes | 1,264,798 | 1,101,664 | 960,483 | 883,662 | 733,088 | |||||||||||||||||||||||||||
| Income taxes | 243,847 | 204,108 | 181,046 | 409,157 | 111,414 | |||||||||||||||||||||||||||
| Net income | $ | 1,020,951 | $ | 897,556 | $ | 779,437 | $ | 474,505 | $ | 621,674 | ||||||||||||||||||||||
| Basic earnings per share | $ | 6.94 | $ | 6.12 | $ | 5.34 | $ | 3.27 | $ | 4.31 | ||||||||||||||||||||||
| Diluted earnings per share | $ | 6.92 | $ | 6.09 | $ | 5.30 | $ | 3.24 | $ | 4.27 | ||||||||||||||||||||||
| Dividends per share | $ | 1.92 | $ | 1.76 | $ | 1.68 | $ | 1.56 | $ | 1.56 | ||||||||||||||||||||||
| Weighted average: | ||||||||||||||||||||||||||||||||
| Basic shares outstanding | 147,021 | 146,765 | 146,066 | 145,313 | 144,338 | |||||||||||||||||||||||||||
| Diluted shares outstanding | 147,550 | 147,455 | 147,043 | 146,451 | 145,652 |
| As of June 30, | ||||||||||||||||||||||||||||||||
| Consolidated Balance Sheet Data (In thousands): | 2024 | 2023 | 2022 | 2021 | 2020 | |||||||||||||||||||||||||||
| Working capital | $ | 1,447,064 | $ | 1,609,297 | $ | 1,242,179 | $ | 662,991 | $ | 920,698 | ||||||||||||||||||||||
| Total assets | $ | 6,872,394 | $ | 6,751,708 | $ | 5,095,853 | $ | 4,728,125 | $ | 4,587,376 | ||||||||||||||||||||||
| Long-term debt, less current maturities | $ | 697,313 | $ | 1,431,234 | $ | 765,325 | $ | 643,351 | $ | 1,164,133 | ||||||||||||||||||||||
| Total stockholders’ equity | $ | 4,864,043 | $ | 4,129,903 | $ | 3,360,751 | $ | 2,885,679 | $ | 2,497,027 |
-48-
| PART II | Item 7 | ||||
| RESMED INC. AND SUBSIDIARIES Management’s Discussion and Analysis of Financial Condition and Results of Operations |
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS