2022 Q1 Form 10-Q Financial Statement

#000182818222000029 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $451.3M $756.5M
YoY Change -40.34%
Cash & Equivalents $451.3M $756.5M
Short-Term Investments
Other Short-Term Assets $21.40M $16.10M
YoY Change 32.92%
Inventory
Prepaid Expenses
Receivables $220.7M $169.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $825.9M $1.003B
YoY Change -17.68%
LONG-TERM ASSETS
Property, Plant & Equipment $23.40M $24.10M
YoY Change -2.9%
Goodwill $796.4M $596.7M
YoY Change 33.47%
Intangibles $540.2M $497.9M
YoY Change 8.5%
Long-Term Investments
YoY Change
Other Assets $10.70M $5.700M
YoY Change 87.72%
Total Long-Term Assets $1.446B $1.169B
YoY Change 23.61%
TOTAL ASSETS
Total Short-Term Assets $825.9M $1.003B
Total Long-Term Assets $1.446B $1.169B
Total Assets $2.271B $2.173B
YoY Change 4.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.500M $9.400M
YoY Change -30.85%
Accrued Expenses $61.60M $49.30M
YoY Change 24.95%
Deferred Revenue $2.600M $7.000M
YoY Change -62.86% 337.5%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.500M $4.200M
YoY Change -16.67%
Total Short-Term Liabilities $171.3M $191.5M
YoY Change -10.55%
LONG-TERM LIABILITIES
Long-Term Debt $334.5M $396.8M
YoY Change -15.7%
Other Long-Term Liabilities $1.200M $16.70M
YoY Change -92.81%
Total Long-Term Liabilities $335.7M $413.5M
YoY Change -18.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $171.3M $191.5M
Total Long-Term Liabilities $335.7M $413.5M
Total Liabilities $725.5M $741.7M
YoY Change -2.18%
SHAREHOLDERS EQUITY
Retained Earnings $8.400M -$23.20M
YoY Change -136.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.171B $1.061B
YoY Change
Total Liabilities & Shareholders Equity $2.271B $2.173B
YoY Change 4.54%

Cashflow Statement

Concept 2022 Q1 2021 Q1

Facts In Submission

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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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683900000 USD
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684200000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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77000000.0 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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453600000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
760900000 USD
CY2022Q1 us-gaap Interest Paid Net
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3300000 USD
CY2021Q1 us-gaap Interest Paid Net
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4800000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
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0 USD
CY2021Q1 us-gaap Income Taxes Paid Net
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-100000 USD
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CapitalExpendituresIncurredButNotYetPaid
900000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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600000 USD
CY2022Q1 us-gaap Liabilities Assumed1
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0 USD
CY2021Q1 us-gaap Liabilities Assumed1
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26000000.0 USD
CY2022Q1 us-gaap Stock Issued1
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60000000.0 USD
CY2021Q1 us-gaap Stock Issued1
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EstablishmentOfLiabilitiesUnderTaxReceivableAgreement
-100000 USD
CY2021Q1 sgfy Establishment Of Liabilities Under Tax Receivable Agreement
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0 USD
CY2022Q1 us-gaap Number Of Operating Segments
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2 segment
CY2022Q1 us-gaap Number Of Operating Segments
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2 segment
CY2022Q1 us-gaap Use Of Estimates
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The accompanying Condensed Consolidated Financial Statements have been prepared in conformity with GAAP, which requires management to make estimates and assumptions affecting the reported amounts in our Condensed Consolidated Financial Statements and accompanying notes. These estimates are based on information available as of the date of the Condensed Consolidated Financial Statements; therefore, actual results could differ from those estimates. The significant estimates underlying our Condensed Consolidated Financial Statements include revenue recognition; allowance for doubtful accounts; recoverability of long-lived assets, intangible assets and goodwill; loss contingencies; accounting for business combinations, including amounts assigned to definite and indefinite lived intangible assets and contingent consideration; customer equity appreciation rights; and equity-based compensation.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As of March 31, 2022, the COVID-19 pandemic continues to evolve and impact our Episodes of Care Services segment due to the passage of time between episode initiation and the performance and subsequent recognition of revenue for our services; </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">See</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Note 3 </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">The COVID-19 Pandemic</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">. As a result, many of our estimates and assumptions have required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, our estimates may change materially in the future.</span></div>
CY2022Q1 sgfy Restricted Cash Agreement Return Of Funds Following Conclusion Of Effective Period Period
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P18M
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451300000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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678500000 USD
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2300000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
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5700000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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453600000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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684200000 USD
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9700000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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7900000 USD
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CY2021Q1 us-gaap Marketing And Advertising Expense
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300000 USD
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7 physicianPractice
CY2022Q1 sgfy Number Of Physician Practices
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7 physicianPractice
CY2022Q1 sgfy Number Of Variable Interest Entities
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4 accountable_care_organization
CY2022Q1 sgfy Variable Interest Entity Minimum Requirement Of Aco Participants Percent
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0.75
CY2022Q1 sgfy Number Of Variable Interest Entities Number Of Entities Liable For Losses
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1 accountable_care_organization
CY2022Q1 sgfy Number Of Variable Interest Entities
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4 accountable_care_organization
CY2022Q1 sgfy Number Of Variable Interest Entities Number Of Entities Not Part Of Mssp Model
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2 accountable_care_organization
CY2022Q1 sgfy Number Of Variable Interest Entities
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4 accountable_care_organization
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0.02
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0.40
CY2022Q1 sgfy Variable Interest Entity Maximum Shared Loss Rate Percent
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0.75
CY2022Q1 sgfy Variable Interest Entity Maximum Updated Benchmark Percent
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0.15
CY2022Q1 sgfy Variable Interest Entity Percent Of Potential Losses Bearing Risk
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CY2022Q1 sgfy Variable Interest Entity Mssp Maximum Percent
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216500000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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180000000.0 USD
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217200000 USD
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37400000 USD
CY2021Q4 sgfy Shared Savings Payable
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63400000 USD
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CY2022Q1 sgfy Contract With Customer Asset Performance Obligation Satisfied In Period At Point In Time
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CY2021Q1 sgfy Contract With Customer Asset Performance Obligation Satisfied In Period At Point In Time
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CY2022Q1 sgfy Contract With Customer Asset Performance Obligation Satisfied In Period
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CY2021Q1 sgfy Contract With Customer Refund Liability Performance Obligations Satisfied At Point In Time
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CY2022Q1 sgfy Contract With Customer Liability Payments Received From Customers
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600000 USD
CY2021Q1 sgfy Contract With Customer Liability Payments Received From Customers
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7500000 USD
CY2022Q1 sgfy Contract With Customer Liability Deferred Revenue Recognized
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CY2021Q1 sgfy Contract With Customer Liability Deferred Revenue Recognized
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CY2021Q1 us-gaap Contract With Customer Liability Current
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CY2020Q4 sgfy Shared Savings Payable
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67800000 USD
CY2021Q1 sgfy Shared Savings Payable Payments To Customer
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CY2022Q1 sgfy Shared Savings Payable Due To Customer Performance Obligation Satisfied
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CY2021Q1 sgfy Shared Savings Payable Due To Customer Performance Obligation Satisfied
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CY2022Q1 sgfy Shared Savings Payable
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CY2021Q1 sgfy Shared Savings Payable
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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28500000 USD
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CY2022Q1 us-gaap Depreciation
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25200000 USD
CY2022Q1 us-gaap Operating Lease Liability
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33300000 USD
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CY2022Q1 us-gaap Lease Cost
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2100000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y9M18D
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5800000 USD
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6000000.0 USD
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4500000 USD
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4700000 USD
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CY2022Q1 us-gaap Long Term Debt Noncurrent
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334500000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
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334900000 USD
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2600000 USD
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3500000 USD
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3500000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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3500000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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3500000 USD
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331700000 USD
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348300000 USD
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CY2021Q1 us-gaap Profit Loss
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CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Net Income Loss
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WeightedAverageNumberOfSharesOutstandingBasic
172761665 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165486015 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3200000 USD
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
900000 USD
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
12200000 USD
CY2022Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1800000 USD
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1600000 USD
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
30600000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6000000.0 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9900000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.270
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.161
CY2022Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
300000 USD
CY2021Q1 sgfy Tax Receivable Agreement Applicable Cash Savings Payable Percent
TaxReceivableAgreementApplicableCashSavingsPayablePercent
0.85
CY2021Q1 sgfy Tax Receivable Agreement Applicable Cash Savings Retainable Percent
TaxReceivableAgreementApplicableCashSavingsRetainablePercent
0.15
CY2022Q1 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
56300000 USD
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q1 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
45300000 USD
CY2021Q1 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
72500000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18000000.0 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16700000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
4000000.0 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
6800000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-22300000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-61600000 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28800000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-56700000 USD
CY2022Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
3200000 USD
CY2021Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
5600000 USD
CY2022Q1 sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
200000 USD
CY2021Q1 sgfy Non Allocated Costs And Expenses
NonAllocatedCostsAndExpenses
1300000 USD
CY2022Q1 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
45300000 USD
CY2021Q1 sgfy Unallocated Costs And Expenses
UnallocatedCostsAndExpenses
72500000 USD

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