2023 Q3 Form 10-Q Financial Statement

#000108622223000248 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $965.5M $935.7M $903.3M
YoY Change 9.48% 3.59% 5.92%
Cost Of Revenue $383.1M $373.3M $346.6M
YoY Change 10.57% 7.68% 8.33%
Gross Profit $582.4M $562.4M $556.7M
YoY Change 8.77% 1.04% 4.48%
Gross Profit Margin 60.32% 60.11% 61.63%
Selling, General & Admin $279.6M $288.4M $246.7M
YoY Change 6.18% 16.91% 0.19%
% of Gross Profit 48.01% 51.27% 44.31%
Research & Development $105.9M $99.04M $92.07M
YoY Change 12.65% 7.57% 19.18%
% of Gross Profit 18.19% 17.61% 16.54%
Depreciation & Amortization $148.5M $139.1M $150.6M
YoY Change -1.65% -7.62% 9.38%
% of Gross Profit 25.5% 24.74% 27.05%
Operating Expenses $385.6M $387.4M $374.1M
YoY Change 7.88% 3.55% 15.67%
Operating Profit $176.1M $149.8M $182.6M
YoY Change 9.78% -17.95% -8.46%
Interest Expense $4.987M $3.157M -$5.263M
YoY Change 79.07% -159.98% -129.18%
% of Operating Profit 2.83% 2.11% -2.88%
Other Income/Expense, Net -$3.161M -$1.130M $816.0K
YoY Change 1049.45% -238.48% -200.62%
Pretax Income $179.4M $150.0M $170.6M
YoY Change 13.43% -12.07% -7.95%
Income Tax $20.33M $21.19M $51.06M
% Of Pretax Income 11.33% 14.13% 29.93%
Net Earnings $160.5M $128.8M $119.5M
YoY Change 48.44% 7.76% -23.62%
Net Earnings / Revenue 16.63% 13.77% 13.23%
Basic Earnings Per Share $1.06 $0.85 $0.86
Diluted Earnings Per Share $1.04 $0.84 $739.2K
COMMON SHARES
Basic Shares Outstanding 151.7M shares 152.2M shares 160.3M shares
Diluted Shares Outstanding 155.0M shares 153.5M shares 161.7M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $935.2M $790.2M $690.7M
YoY Change 8.23% 14.41% -51.23%
Cash & Equivalents $459.9M $298.6M $426.7M
Short-Term Investments $475.3M $491.6M $264.0M
Other Short-Term Assets $214.7M $229.5M $207.0M
YoY Change 2.53% 10.83% 14.92%
Inventory
Prepaid Expenses
Receivables $713.4M $698.4M $668.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.867B $1.718B $1.566B
YoY Change 10.13% 9.73% -30.49%
LONG-TERM ASSETS
Property, Plant & Equipment $2.670B $2.631B $2.339B
YoY Change 14.9% 12.47% 52.05%
Goodwill $2.843B $2.848B
YoY Change 3.26%
Intangibles $465.2M $437.3M
YoY Change 2.24%
Long-Term Investments $1.209B $249.2M $640.7M
YoY Change 147.44% -61.1% -44.99%
Other Assets $122.4M $124.8M $424.5M
YoY Change 16.22% -70.61% 222.55%
Total Long-Term Assets $7.715B $6.627B $6.645B
YoY Change 20.32% -0.26% 17.24%
TOTAL ASSETS
Total Short-Term Assets $1.867B $1.718B $1.566B
Total Long-Term Assets $7.715B $6.627B $6.645B
Total Assets $9.582B $8.346B $8.211B
YoY Change 18.19% 1.64% 3.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.5M $194.5M $131.6M
YoY Change 21.35% 47.74% 40.85%
Accrued Expenses $329.4M $269.3M $493.3M
YoY Change 0.04% -45.42% 70.6%
Deferred Revenue $124.4M $138.6M
YoY Change 13.3%
Short-Term Debt $0.00 $20.00M $75.00M
YoY Change -73.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $810.5M $860.8M $817.1M
YoY Change 7.63% 5.35% 26.2%
LONG-TERM LIABILITIES
Long-Term Debt $3.536B $2.287B $2.283B
YoY Change 54.82% 0.19% 17.61%
Other Long-Term Liabilities $102.5M $104.3M $791.1M
YoY Change 7.66% -86.82% 871.27%
Total Long-Term Liabilities $102.5M $104.3M $3.074B
YoY Change 7.66% -96.61% 3674.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $810.5M $860.8M $817.1M
Total Long-Term Liabilities $102.5M $104.3M $3.074B
Total Liabilities $5.258B $4.057B $3.931B
YoY Change 35.72% 3.21% 14.12%
SHAREHOLDERS EQUITY
Retained Earnings $2.307B $2.146B $1.668B
YoY Change 32.31% 28.68% 81.84%
Common Stock $1.583M $1.580M
YoY Change -2.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.324B $4.289B $4.280B
YoY Change
Total Liabilities & Shareholders Equity $9.582B $8.346B $8.211B
YoY Change 18.19% 1.64% 3.66%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $160.5M $128.8M $119.5M
YoY Change 48.44% 7.76% -23.62%
Depreciation, Depletion And Amortization $148.5M $139.1M $150.6M
YoY Change -1.65% -7.62% 9.38%
Cash From Operating Activities $359.4M $366.3M $341.4M
YoY Change -2.68% 7.29% -9.7%
INVESTING ACTIVITIES
Capital Expenditures $234.0M $176.3M -$118.2M
YoY Change -338.8% -249.19% -23.56%
Acquisitions
YoY Change
Other Investing Activities -$930.2M -$72.07M $2.941M
YoY Change -37928.39% -2550.36% -158.35%
Cash From Investing Activities -$1.164B -$248.4M -$115.2M
YoY Change 1118.69% 115.54% -27.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 974.7M -117.2M -165.9M
YoY Change -524.75% -29.36% 67.89%
NET CHANGE
Cash From Operating Activities 359.4M 366.3M 341.4M
Cash From Investing Activities -1.164B -248.4M -115.2M
Cash From Financing Activities 974.7M -117.2M -165.9M
Net Change In Cash 169.9M 757.0K 60.30M
YoY Change 283.58% -98.74% -49.62%
FREE CASH FLOW
Cash From Operating Activities $359.4M $366.3M $341.4M
Capital Expenditures $234.0M $176.3M -$118.2M
Free Cash Flow $125.4M $190.0M $459.6M
YoY Change -73.16% -58.65% -13.73%

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CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CY2022Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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ContractCostCapitalizedDuringPeriod
17381000 usd
CY2022Q2 akam Contract Cost Capitalized During Period
ContractCostCapitalizedDuringPeriod
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akam Contract Cost Capitalized During Period
ContractCostCapitalizedDuringPeriod
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akam Contract Cost Capitalized During Period
ContractCostCapitalizedDuringPeriod
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CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q2 us-gaap Finite Lived Intangible Assets Net
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Net
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CY2023Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
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30600000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
48900000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
3577000 usd
CY2023Q2 us-gaap Goodwill
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CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
300000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2500000 usd
CY2023Q2 akam Amortization Of Debt Issuance Costs Including Capitalized Interest
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CY2022Q2 akam Amortization Of Debt Issuance Costs Including Capitalized Interest
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AmortizationOfDebtIssuanceCostsIncludingCapitalizedInterest
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CY2023Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
69000 usd
CY2022Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
78000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
137000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
127000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
3157000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
2932000 usd
us-gaap Interest Expense
InterestExpense
5838000 usd
us-gaap Interest Expense
InterestExpense
5627000 usd
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
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1800000000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
87444000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
18808000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2023Q2 akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
7900000 usd
akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
15400000 usd
CY2022Q2 akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
7700000 usd
akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
15300000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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20368000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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100000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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1851419000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1806979000 usd
CY2023Q2 akam Number Of Solutions
NumberOfSolutions
3 solution_category
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
935721000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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903332000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
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1851419000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
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1806979000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
82100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
79200000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3300000000 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.70
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.184
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.159
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
128816000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
137840000 usd
us-gaap Net Income Loss
NetIncomeLoss
225922000 usd
us-gaap Net Income Loss
NetIncomeLoss
271216000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152064000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
160038000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
153850000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
160266000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
50000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
25000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1376000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
565000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
938000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
943000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1057000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1440000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153454000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161710000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154795000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
162674000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.69
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.67
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25420000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25241000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28429000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25260000 shares
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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