2023 Q1 Form 10-Q Financial Statement

#000166613823000032 Filed on February 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $895.9M $833.8M
YoY Change -8.82% -0.83%
Cost Of Revenue $543.1M $499.5M
YoY Change -4.08% 2.77%
Gross Profit $352.9M $334.4M
YoY Change -15.26% -5.77%
Gross Profit Margin 39.39% 40.1%
Selling, General & Admin $98.20M $89.98M
YoY Change 10.44% 15.13%
% of Gross Profit 27.83% 26.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.60M $25.97M
YoY Change 43.03% 29.54%
% of Gross Profit 8.1% 7.77%
Operating Expenses $98.20M $89.98M
YoY Change 10.44% 15.13%
Operating Profit $239.9M $231.6M
YoY Change -24.75% -13.73%
Interest Expense -$8.475M -$9.488M
YoY Change 12.79% 37.15%
% of Operating Profit -3.53% -4.1%
Other Income/Expense, Net -$3.858M -$41.00K
YoY Change -578.07% -113.31%
Pretax Income $227.6M $222.1M
YoY Change -27.09% -15.19%
Income Tax $53.36M $48.56M
% Of Pretax Income 23.45% 21.87%
Net Earnings $174.2M $173.5M
YoY Change -25.39% -15.3%
Net Earnings / Revenue 19.44% 20.81%
Basic Earnings Per Share $4.37 $4.26
Diluted Earnings Per Share $4.31 $4.20
COMMON SHARES
Basic Shares Outstanding 39.50M shares 39.72M shares
Diluted Shares Outstanding 39.75M shares 40.61M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $354.3M $307.8M
YoY Change -9.24% -38.31%
Cash & Equivalents $354.3M $307.8M
Short-Term Investments
Other Short-Term Assets $95.38M $63.34M
YoY Change 46.91% 37.98%
Inventory $416.1M $445.8M
Prepaid Expenses
Receivables $533.7M $506.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.399B $1.324B
YoY Change -6.08% -8.62%
LONG-TERM ASSETS
Property, Plant & Equipment $443.3M $418.6M
YoY Change 55.03% 51.18%
Goodwill $310.7M $323.2M
YoY Change 46.43% 52.51%
Intangibles $424.9M $426.9M
YoY Change 75.42% 69.83%
Long-Term Investments
YoY Change
Other Assets $3.344M $3.481M
YoY Change -90.71% -90.74%
Total Long-Term Assets $1.280B $1.248B
YoY Change 57.26% 52.39%
TOTAL ASSETS
Total Short-Term Assets $1.399B $1.324B
Total Long-Term Assets $1.280B $1.248B
Total Assets $2.680B $2.571B
YoY Change 16.3% 13.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $258.1M $210.9M
YoY Change -4.37% -9.86%
Accrued Expenses $117.7M $154.9M
YoY Change 2.77% 10.63%
Deferred Revenue $69.10M $111.2M
YoY Change 4.47% 12.77%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $467.9M $447.0M
YoY Change 2.1% -10.6%
LONG-TERM LIABILITIES
Long-Term Debt $761.6M $761.1M
YoY Change 0.28% 0.28%
Other Long-Term Liabilities $13.33M $15.24M
YoY Change -8.94% 6.23%
Total Long-Term Liabilities $774.9M $776.3M
YoY Change 0.11% 0.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $467.9M $447.0M
Total Long-Term Liabilities $774.9M $776.3M
Total Liabilities $1.341B $1.296B
YoY Change 4.69% -2.14%
SHAREHOLDERS EQUITY
Retained Earnings $879.3M $825.4M
YoY Change 55.41% 68.81%
Common Stock $498.2M $491.0M
YoY Change 1.16% 0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.339B $1.275B
YoY Change
Total Liabilities & Shareholders Equity $2.680B $2.571B
YoY Change 16.3% 13.41%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $174.2M $173.5M
YoY Change -25.39% -15.3%
Depreciation, Depletion And Amortization $28.60M $25.97M
YoY Change 43.03% 29.54%
Cash From Operating Activities $204.5M $198.9M
YoY Change 219.77% 104.6%
INVESTING ACTIVITIES
Capital Expenditures $37.68M $35.01M
YoY Change -335.75% 274.08%
Acquisitions $82.18M
YoY Change 127.66%
Other Investing Activities -$1.203M -$82.18M
YoY Change -672.86%
Cash From Investing Activities -$38.89M -$117.2M
YoY Change 146.51% 160.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -119.4M -$164.8M
YoY Change -23.7% 27.73%
NET CHANGE
Cash From Operating Activities 204.5M $198.9M
Cash From Investing Activities -38.89M -$117.2M
Cash From Financing Activities -119.4M -$164.8M
Net Change In Cash 46.23M -$80.92M
YoY Change -142.67% 4.65%
FREE CASH FLOW
Cash From Operating Activities $204.5M $198.9M
Capital Expenditures $37.68M $35.01M
Free Cash Flow $166.9M $163.8M
YoY Change 108.7% 86.54%

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
576289000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
307827000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022Q4 atkr Acquisitions Of Businesses Not Yet Paid
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AcquisitionsOfBusinessesNotYetPaid
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StockholdersEquity
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5270000 usd
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StockholdersEquity
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StockholdersEquity
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Fiscal Period
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<span style="color:#000000;font-family:'Montserrat Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Fiscal Periods —</span><span style="color:#000000;font-family:'Montserrat Light',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> The Company has a fiscal year that ends on September 30. The Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">’</span><span style="color:#000000;font-family:'Montserrat Light',sans-serif;font-size:10pt;font-weight:400;line-height:112%">s fiscal quarters typically end on the last Friday in December, March and June as it follows a 4-5-4 calendar.</span>
CY2022Q4 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Montserrat Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates —</span><span style="color:#000000;font-family:'Montserrat Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclose contingent assets and liabilities at the date of the condensed consolidated financial statements and report the associated amounts of revenues and expenses. Actual results could differ materially from these estimates.</span>
CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
CY2022 us-gaap Business Combination Consideration Transferred Liabilities Incurred
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12628000 usd
CY2022Q3 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
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31100000 usd
CY2022Q4 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
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14000 usd
CY2022Q4 us-gaap Pension Expense
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CY2022Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.82
CY2022Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2807000 usd
CY2021Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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3642000 usd
CY2021Q4 us-gaap Pension Expense
PensionExpense
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CY2021Q4 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
176000 usd
CY2022Q4 atkr Foreign Exchange Gain Losson Intercompany Loans
ForeignExchangeGainLossonIntercompanyLoans
149000 usd
CY2021Q4 atkr Foreign Exchange Gain Losson Intercompany Loans
ForeignExchangeGainLossonIntercompanyLoans
-319000 usd
CY2022Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-41000 usd
CY2021Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.218
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48559000 usd
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56975000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1671000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
173492000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
204843000 usd
CY2022Q4 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
11262000 usd
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
170685000 usd
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NetIncomeLossAvailableToCommonStockholdersBasic
170685000 usd
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NetIncomeLossAvailableToCommonStockholdersDiluted
201201000 usd
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
201201000 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40085000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45980000 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
528000 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
595000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40613000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46575000 shares
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.26
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.38
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.20
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.32
CY2022Q4 us-gaap Inventory Net
InventoryNet
445780000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
454511000 usd
CY2022Q4 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-62000 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11324000 usd
CY2021Q4 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
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CY2021Q4 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
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CY2021Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1333000 usd
CY2022Q4 atkr Inventory Raw Materials And Purchased Parts Net Of Valuation Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfValuationReserves
152805000 usd
CY2022Q3 atkr Inventory Raw Materials And Purchased Parts Net Of Valuation Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfValuationReserves
166038000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
50059000 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
61182000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
242916000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
227291000 usd
CY2022Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
661248000 usd
CY2022Q4 atkr Fifo Inventory Higher Lower Than Reported
FIFOInventoryHigherLowerThanReported
29358000 usd
CY2022Q3 atkr Fifo Inventory Higher Lower Than Reported
FIFOInventoryHigherLowerThanReported
64550000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
19598000 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
18996000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
278542000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
289907000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
812220000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
769093000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
393670000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
378873000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
418550000 usd
CY2022Q4 us-gaap Depreciation
Depreciation
13171000 usd
CY2021Q4 us-gaap Depreciation
Depreciation
11817000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
719907000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
289330000 usd
CY2022Q4 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
30820000 usd
CY2022Q4 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
3064000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
323214000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
627096000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
293007000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
334089000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
568449000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
293007000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
426900000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
278542000 usd
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
382706000 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12796000 usd
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8229000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
41749000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
49999000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
37538000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
36017000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
35093000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
25808000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
107885000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10378000 usd
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10844000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
761074000 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
760537000 usd
CY2022Q4 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
262500000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
9067000 usd
CY2022Q4 atkr Selling Generaland Administrative Expense Unallocated
SellingGeneralandAdministrativeExpenseUnallocated
13395000 usd
CY2021Q4 atkr Selling Generaland Administrative Expense Unallocated
SellingGeneralandAdministrativeExpenseUnallocated
13969000 usd
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25967000 usd
CY2021Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20046000 usd
CY2022Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-9488000 usd
CY2021Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-6918000 usd
CY2022Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5270000 usd
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3427000 usd
CY2022Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-1069000 usd
CY2021Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-801000 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
222051000 usd
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
261818000 usd
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
833821000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
833821000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
840801000 usd

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