The company said revenue for fiscal 2023 increased 14% from fiscal 2022. It said the inclusion of $1,052 million of revenue from AJRD, which is reported in its AR segment, drove the increase, with CS up $853 million, including $365 million from the TDL acquisition, and SAS up $472 million.

1. 01

   The company said revenue for fiscal 2023 increased 14% from fiscal 2022. It said the inclusion of $1,052 million of revenue from AJRD, which is reported in its AR segment, drove the increase, with CS up $853 million, including $365 million from the TDL acquisition, and SAS up $472 million.

2. 02

   The company said gross margin for fiscal 2023 increased from fiscal 2022, but gross margin declined by $121 million from the net change in EAC adjustments, and a higher mix of lower margin revenue, primarily in CS, lowered gross margin as a percentage of revenue.

3. 03

   The company said net cash provided by operating activities for fiscal 2023 decreased by $62 million, and that income tax payments rose by $406 million. It said cash used in investing activities was $6.7 billion, mainly for the acquisitions of TDL and AJRD.

4. 04

   The company said that as of December 29, 2023, its net long-term debt, including the current portion and financing lease obligations, was $11.5 billion, and short-term debt was $1.6 billion. It said available borrowing capacity under its 2023 Credit Agreement, excluding borrowings under its CP Program, was $800 million.

Key figures

Fiscal year ended December 29, 2023

Revenue

$19.4B

Operating income

$1.4B

Net income

$1.2B

EPS

$6.44

Operating cash flow

$2.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.