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
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments461368363605395330
Cash and cash equivalents461368363605395330
Receivables1,2801,3181,2211,3131,2491,232
Inventory, net of allowances, customer advances and progress billings155170163163150149
Inventory155170163163150149
Contract with customer, asset, after allowance for credit loss530509490459511480
Other undisclosed current assets226167127112167170
Total current assets:2,6522,5322,3642,6522,4722,361
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   17  
Operating lease, right-of-use asset227221209222209226
Property, plant and equipment 377418412407399388
Intangible assets, net (including goodwill)4,0284,1474,1394,1664,0104,254
Goodwill2,4042,4442,4052,3822,3272,226
Intangible assets, net (excluding goodwill)1,6241,7031,7341,7841,6832,028
Deferred income tax assets1071061111086163
Other noncurrent assets151130127144214145
Other undisclosed noncurrent assets407420404375576617
Total noncurrent assets:5,2975,4425,4025,4395,4695,693
TOTAL ASSETS:7,9497,9747,7668,0917,9418,054
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0791,0649701,1531,3001,217
Employee-related liabilities294275
Accounts payable431473442490469448
Accrued liabilities648591528663537494
Deferred revenue474491469463428421
Debt2566620663
Other undisclosed current liabilities909010499(211)(188)
Total current liabilities:1,8991,6511,5491,9211,5231,453
Noncurrent Liabilities
Long-term debt and lease obligation2,342  12158172
Long-term debt, excluding current maturities2,342     
Finance lease, liability   12109
Liabilities, other than long-term debt525540530667551662
Deferred income tax liabilities340351344340342454
Liability, pension and other postretirement and postemployment benefits373838406569
Accrued environmental loss contingencies 1718181619 
Other liabilities122124126111111127
Operating lease, liability   154148163
Business combination, contingent consideration, liability108461412
Derivative instruments and hedges, liabilities (1)1    
Other undisclosed noncurrent liabilities 1542,7392,7252,5672,7622,814
Total noncurrent liabilities:3,0213,2793,2553,2463,4713,648
Total liabilities:4,9204,9304,8045,1674,9945,101
Temporary equity, carrying amount797797797797797797
Equity
Equity, attributable to parent2,2322,2472,1652,1272,1502,156
Additional paid in capital2,5622,5652,5692,5582,5652,564
Accumulated other comprehensive loss(294)(228)(266)(267)(229)(194)
Accumulated deficit(36)(90)(138)(164)(186)(214)
Total equity:2,2322,2472,1652,1272,1502,156
TOTAL LIABILITIES AND EQUITY:7,9497,9747,7668,0917,9418,054

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

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues1,7841,7711,6141,7031,7351,649
Cost of revenue(1,273)(1,275)(1,189)(1,240)(1,295)(1,214)
Gross profit:511496425463440435
Operating expenses(407)(389)(352)(414)(379)(376)
Operating income:10410773496159
Nonoperating expense
(Other Nonoperating expense)
(30)(32)(35)(23)(15)(15)
Interest and debt expense(37)(38)(3) 5(28)
Income from continuing operations before equity method investments, income taxes:373735265116
Other undisclosed income (loss) from continuing operations before income taxes37383 (5)28
Income from continuing operations before income taxes:747538264644
Income tax expense(20)(27)(12)(4)(18)(14)
Income from continuing operations:544826222830
Income before gain (loss) on sale of properties:2830
Net income attributable to parent:544826222830
Preferred stock dividends and other adjustments(11)     
Other undisclosed net loss available to common stockholders, basic (20)(14)(13)(15)(15)
Net income (loss) available to common stockholders, basic:43281291315
Other undisclosed net income (loss) available to common stockholders, diluted(4)42122
Net income (loss) available to common stockholders, diluted:393214101517

Comprehensive Income ($ in millions)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:544826222830
Other undisclosed comprehensive income   55  
Comprehensive income:544826772830
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(62)421(93)(21)(144)
Comprehensive income (loss), net of tax, attributable to parent:(8)9027(16)7(114)

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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