APi Group Corporation (APG) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
C/O API GROUP, INC. NEW BRIGHTON, MN 55112 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 17 - Construction Special Trade Contractors (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 605 | 1,188 | 515 | |||
| Cash and cash equivalents | 605 | 1,188 | 515 | |||
| Receivables | 1,313 | 767 | 639 | |||
| Inventory, net of allowances, customer advances and progress billings | 163 | 69 | 64 | |||
| Inventory | 163 | 69 | 64 | |||
| Contract with customer, asset, after allowance for credit loss | 459 | 217 | 142 | |||
| Other undisclosed current assets | 112 | 385 | 77 | |||
| Total current assets: | 2,652 | 2,626 | 1,437 | |||
| Noncurrent Assets | ||||||
| Finance lease, right-of-use asset, after accumulated amortization | 17 | |||||
| Operating lease, right-of-use asset | 222 | 101 | 107 | |||
| Property, plant and equipment | 407 | 326 | 355 | |||
| Intangible assets, net (including goodwill) | 4,166 | 1,988 | 2,047 | |||
| Goodwill | 2,382 | 1,106 | 1,082 | |||
| Intangible assets, net (excluding goodwill) | 1,784 | 882 | 965 | |||
| Deferred income tax assets | 108 | 73 | 89 | |||
| Other noncurrent assets | 144 | 45 | 30 | |||
| Other undisclosed noncurrent assets | 375 | |||||
| Total noncurrent assets: | 5,439 | 2,533 | 2,628 | |||
| TOTAL ASSETS: | 8,091 | 5,159 | 4,065 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 1,153 | 574 | 465 | |||
| Employee-related liabilities | ✕ | ✕ | 209 | 182 | ||
| Accounts payable | 490 | 236 | 150 | |||
| Accrued liabilities | 663 | 129 | 133 | |||
| Deferred revenue | 463 | 243 | 219 | |||
| Debt | 206 | 1 | 18 | |||
| Deferred compensation liability | 67 | |||||
| Other undisclosed current liabilities | 99 | 49 | 72 | |||
| Total current liabilities: | 1,921 | 867 | 841 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 12 | 79 | 96 | |||
| Long-term debt, excluding current maturities | ||||||
| Finance lease, liability | 12 | 2 | 18 | |||
| Liabilities, other than long-term debt | 667 | 124 | 173 | |||
| Deferred income tax liabilities | 340 | 43 | 45 | |||
| Liability, pension and other postretirement and postemployment benefits | 40 | |||||
| Accrued environmental loss contingencies | 16 | |||||
| Other liabilities | 111 | 71 | 106 | |||
| Operating lease, liability | 154 | 77 | 78 | |||
| Business combination, contingent consideration, liability | 6 | 10 | 22 | |||
| Other undisclosed noncurrent liabilities | 2,567 | 1,766 | 1,397 | |||
| Total noncurrent liabilities: | 3,246 | 1,969 | 1,666 | |||
| Total liabilities: | 5,167 | 2,836 | 2,507 | |||
| Temporary equity, carrying amount | 797 | |||||
| Equity | ||||||
| Equity, attributable to parent | 2,127 | 2,323 | 1,558 | |||
| Additional paid in capital | 2,558 | 2,560 | 1,856 | |||
| Accumulated other comprehensive loss | (267) | (14) | ||||
| Accumulated deficit | (164) | (237) | (284) | |||
| Total equity: | 2,127 | 2,323 | 1,558 | |||
| TOTAL LIABILITIES AND EQUITY: | 8,091 | 5,159 | 4,065 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Revenues | 6,558 | 3,940 | 3,587 | ||
| Cost of revenue | (4,844) | (3,001) | (2,831) | ||
| Cost of goods and services sold | |||||
| Gross profit: | 1,714 | 939 | 756 | ||
| Operating expenses | (1,552) | (803) | (725) | ||
| Other undisclosed operating loss | (197) | ||||
| Operating income (loss): | 162 | 136 | (166) | ||
| Nonoperating expense | (69) | (57) | (6) | ||
| Gain, foreign currency transaction, before tax | 12 | ||||
| Other nonoperating expense | (69) | (57) | (18) | ||
| Interest and debt expense | 5 | (9) | (52) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 40 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 98 | 70 | (184) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (5) | 9 | |||
| Income (loss) from continuing operations before income taxes: | 93 | 79 | (184) | ||
| Income tax expense (benefit) | (20) | (32) | 31 | ||
| Income (loss) from continuing operations: | 73 | 47 | (153) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 47 | (153) | |
| Net income (loss) attributable to parent: | 73 | 47 | (153) | ||
| Preferred stock dividends and other adjustments | (184) | (222) | |||
| Other undisclosed net loss available to common stockholders, basic | (50) | ||||
| Net income (loss) available to common stockholders, basic: | 23 | (137) | (375) | ||
| Other undisclosed net income available to common stockholders, diluted | 3 | ||||
| Net income (loss) available to common stockholders, diluted: | 26 | (137) | (375) | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Net income (loss): | 73 | 47 | (153) | ||
| Other comprehensive income | 55 | ||||
| Comprehensive income (loss): | 128 | 47 | (153) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (322) | 14 | (17) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (194) | 61 | (170) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.