DAVEY TREE EXPERT CO Financial Statements (2024 and earlier)

Company Profile

Business Address 1500 N MANTUA ST
KENT, OH 44240-5193
State of Incorp. OH
Fiscal Year End December 31
Industry (SIC) 07 - Agricultural Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments111919161123
Cash and cash equivalents111919161123
Receivables(2)322278253231196
Inventory, net of allowances, customer advances and progress billings28     
Inventory28     
Prepaid expense 453231252620
Other current assets72527113
Other undisclosed current assets3531813101214
Total current assets:507442348305281255
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization19    
Operating lease, right-of-use asset110105865640
Property, plant and equipment313269228205200202
Long-term investments and receivables3529    
Long-term investments3529    
Intangible assets, net (including goodwill)1058968605348
Goodwill857056484238
Intangible assets, net (excluding goodwill)201912121110
Other noncurrent assets122343302222
Other undisclosed noncurrent assets181     
Total noncurrent assets:774514425350315272
TOTAL ASSETS:1,281956773655597527
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1411281181419488
Accounts payable595043434144
Accrued liabilities827775985244
Deferred revenue 34433
Debt462725222723
Self insurance reserve 505649383127
Other liabilities      
Other undisclosed current liabilities 36312516121
Total current liabilities:276245221220166139
Noncurrent Liabilities
Long-term debt and lease obligation1496643273
Capital lease obligations3
Finance lease, liability149962
Liabilities, other than long-term debt36717189827466
Estimated litigation liability200     
Other liabilities122412111210
Operating lease, liability7169573725
Self insurance reserve847877726256
Other undisclosed noncurrent liabilities28323112477143156
Total noncurrent liabilities:664411278202245225
Total liabilities:940656499422410364
Temporary equity, carrying amount189170170153125119
Equity
Equity, attributable to parent152130104806243
Common stock393938383837
Treasury stock, value(417)(364)(306)(270)(247)(235)
Common stock, share subscribed but unissued, subscriptions receivable(17)(20)   (1)
Common stock, value, subscriptions2324   7
Additional paid in capital1981631361109683
Accumulated other comprehensive loss(5)(6)(4)(5)(5)(5)
Retained earnings330294240207180157
Total equity:152130104806243
TOTAL LIABILITIES AND EQUITY:1,281956773655597527

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,6931,5111,3781,2881,1441,025
Revenue, net1,025
Cost of revenue(59)(55)(56)(57)(60)(57)
Gross profit:1,6351,4561,3221,2311,084968
Operating expenses(1,521)(1,356)(1,221)(1,137)(1,014)(912)
Operating income:114100101947056
Nonoperating expense(3)(9)(7)(3)(8)(11)
Investment income, nonoperating210200
Other nonoperating expense(5)(10)(7)(6)(8)(12)
Interest and debt expense(14)(6)(5)(7)(9)(7)
Income from continuing operations before equity method investments, income taxes:978589845337
Other undisclosed income from continuing operations before income taxes0     
Income from continuing operations before income taxes:978589845337
Income tax expense(25)(24)(24)(23)(12)(10)
Income from continuing operations:726166614128
Income before gain (loss) on sale of properties:66614128
Net income:726166614128
Other undisclosed net loss attributable to parent(0)     
Net income available to common stockholders, diluted:726166614128

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:726166614128
Other comprehensive income (loss)1(1)01(0)3
Comprehensive income:736066624031
Other undisclosed comprehensive loss, net of tax, attributable to parent(0)     
Comprehensive income, net of tax, attributable to parent:736066624031

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.

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