2021 Q4 Form 10-K Financial Statement

#000180297421000049 Filed on December 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $237.0M $891.7M $206.8M
YoY Change 14.6% 3.41% -10.75%
Cost Of Revenue $203.2M $767.2M $167.3M
YoY Change 21.46% 4.0% -11.48%
Gross Profit $33.80M $124.5M $39.50M
YoY Change -14.43% -0.08% -7.49%
Gross Profit Margin 14.26% 13.96% 19.1%
Selling, General & Admin $15.50M $63.60M $16.80M
YoY Change -7.74% 13.17% 57.01%
% of Gross Profit 45.86% 51.08% 42.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.700M $20.40M $5.460M
YoY Change 22.71% 12.71% 14.95%
% of Gross Profit 19.82% 16.39% 13.82%
Operating Expenses $15.50M $63.60M $16.80M
YoY Change -7.74% 13.17% 57.01%
Operating Profit $18.30M $60.90M $22.70M
YoY Change -19.38% -10.96% -29.06%
Interest Expense $4.500M $3.700M $1.400M
YoY Change 221.43% -44.78%
% of Operating Profit 24.59% 6.08% 6.17%
Other Income/Expense, Net $0.00 $1.300M -$700.0K
YoY Change -100.0% -285.71% -12.5%
Pretax Income $22.70M $66.00M $23.30M
YoY Change -2.58% 50.68% -25.32%
Income Tax $5.800M $21.10M $4.600M
% Of Pretax Income 25.55% 31.97% 19.74%
Net Earnings $16.90M $44.90M $18.80M
YoY Change -10.11% 55.9% -21.34%
Net Earnings / Revenue 7.13% 5.04% 9.09%
Basic Earnings Per Share $0.64
Diluted Earnings Per Share $237.6K $0.63 $253.4K
COMMON SHARES
Basic Shares Outstanding 70.63M shares 70.58M shares
Diluted Shares Outstanding 71.07M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.50M $84.50M $124.0M
YoY Change -31.85% -31.85%
Cash & Equivalents $84.50M $84.50M $124.0M
Short-Term Investments
Other Short-Term Assets $17.70M $17.70M $10.20M
YoY Change 73.53% 73.53%
Inventory $48.20M $48.20M $38.60M
Prepaid Expenses
Receivables $73.80M $73.80M $57.50M
Other Receivables $12.30M $22.90M $13.40M
Total Short-Term Assets $247.1M $247.1M $248.1M
YoY Change -0.4% -0.4%
LONG-TERM ASSETS
Property, Plant & Equipment $424.2M $468.1M $379.1M
YoY Change 11.9% 23.48%
Goodwill $76.40M $76.40M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $52.70M $52.70M $46.70M
YoY Change 12.85% 12.85% -25.52%
Other Assets $19.80M $27.40M $18.10M
YoY Change 9.39% -60.4%
Total Long-Term Assets $626.4M $626.4M $529.2M
YoY Change 18.37% 18.37%
TOTAL ASSETS
Total Short-Term Assets $247.1M $247.1M $248.1M
Total Long-Term Assets $626.4M $626.4M $529.2M
Total Assets $873.5M $873.5M $777.3M
YoY Change 12.38% 12.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.00M $45.00M $39.30M
YoY Change 14.5% 14.5%
Accrued Expenses $28.80M $29.30M $28.30M
YoY Change 1.77% 3.53%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.800M $9.900M $7.400M
YoY Change 18.92% 15.12%
Total Short-Term Liabilities $89.20M $89.20M $77.90M
YoY Change 14.51% 14.51%
LONG-TERM LIABILITIES
Long-Term Debt $155.1M $157.3M $166.7M
YoY Change -6.96% -7.47%
Other Long-Term Liabilities $20.00M $66.00M $24.30M
YoY Change -17.7% 134.88%
Total Long-Term Liabilities $175.1M $223.3M $191.0M
YoY Change -8.32% 12.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.20M $89.20M $77.90M
Total Long-Term Liabilities $175.1M $223.3M $191.0M
Total Liabilities $339.3M $339.3M $303.8M
YoY Change 11.69% 11.69%
SHAREHOLDERS EQUITY
Retained Earnings $309.0M $251.2M
YoY Change 23.01%
Common Stock $100.0K $100.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $534.2M $534.2M $473.5M
YoY Change
Total Liabilities & Shareholders Equity $873.5M $873.5M $777.3M
YoY Change 12.38% 12.38%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $16.90M $44.90M $18.80M
YoY Change -10.11% 55.9% -21.34%
Depreciation, Depletion And Amortization $6.700M $20.40M $5.460M
YoY Change 22.71% 12.71% 14.95%
Cash From Operating Activities $31.80M $47.00M $45.97M
YoY Change -30.82% -40.43% 20.18%
INVESTING ACTIVITIES
Capital Expenditures -$12.10M $73.40M -$26.91M
YoY Change -55.04% 9.06% 250.39%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$300.0K $2.610M
YoY Change -73.18% 203.49%
Cash From Investing Activities -$11.40M -$70.30M -$24.29M
YoY Change -53.07% 3.84% 256.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $10.50M
YoY Change 66.67%
Cash From Financing Activities -4.900M -$11.50M 65.91M
YoY Change -107.43% -122.95% -864.62%
NET CHANGE
Cash From Operating Activities 31.80M $47.00M 45.97M
Cash From Investing Activities -11.40M -$70.30M -24.29M
Cash From Financing Activities -4.900M -$11.50M 65.91M
Net Change In Cash 15.50M -$34.80M 87.59M
YoY Change -82.3% -156.68% 284.0%
FREE CASH FLOW
Cash From Operating Activities $31.80M $47.00M $45.97M
Capital Expenditures -$12.10M $73.40M -$26.91M
Free Cash Flow $43.90M -$26.40M $72.88M
YoY Change -39.76% -327.59% 58.68%

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50100000 USD
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61400000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Net
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6300000 USD
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14800000 USD
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CY2019 us-gaap Income Taxes Paid Net
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21500000 USD
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1400000 USD
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CY2019 avo Capital Expenditures Incurred But Not Yet Paid Assets Held For Sale
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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2800000 USD
CY2021 us-gaap Nature Of Operations
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Nature of BusinessMission Produce, Inc. together with its consolidated subsidiaries (“Mission,” “the Company,” “we,” “us” or “our”), is a global leader in the avocado industry. The Company’s expertise lies in the farming, packaging, marketing and distribution of avocados to food retailers, distributors and produce wholesalers worldwide. The Company procures avocados principally from California, Mexico and Peru. Through our various operating facilities, we grow, sort, pack, bag and ripen avocados for distribution to domestic and international markets. We report our results of operations in two operating segments: Marketing and Distribution and International Farming (see Note 13).
CY2021 us-gaap Number Of Operating Segments
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2 segment
CY2021 us-gaap Use Of Estimates
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Use of estimatesThe preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
CY2021Q4 us-gaap Value Added Tax Receivable
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11000000 USD
CY2020Q4 us-gaap Value Added Tax Receivable
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10600000 USD
CY2021 us-gaap Advertising Expense
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300000 USD
CY2021 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="margin-top:12pt"><span style="color:#232f84;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Revenue recognition </span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We recognize revenue according to the model under ASC 606, which requires the recognition of revenue when performance obligations to customers have been satisfied in amounts equal to the consideration to which we expect to be entitled.</span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For our customer contracts, we identify the performance obligations (products or services), determine the transaction price, allocate the contract transaction price to the performance obligations, and recognize the revenue when the performance obligation is fulfilled, which is when the product is shipped to or received by the customer, depending on the specific terms of the arrangement. Our revenues are recorded at a point in time. Revenue recognized from product sales is based primarily on purchase orders issued by customers which specify shipping terms and details of the transaction. The performance obligations in a given transaction are determined by the individual purchase orders with revenue recognized at the time that the performance obligations have been satisfied. Shipping and handling activities that occur prior to the transfer of control of goods to the customer are treated as fulfillment activities related to the promise to transfer goods, rather than as performance obligations. Amounts collected from customers for sales and other similar taxes are excluded from the transaction price.</span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Most performance obligations are subject to customer acceptance. However, our customers have an implicit and explicit right to return products following acceptance, if they are found not to conform to the specifications generally agreed upon or detailed in the individual purchase orders. We evaluate the need for provisions related to product return allowances based on estimates and record such provisions as a reduction in revenue in the same period that revenue for the related transactions is recognized.</span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We offer rebate programs to certain customers. These programs are not significant, and the amounts paid to customers related to rebate programs are recorded as a reduction of the sales price and revenue recognized as a result of the transaction. The Company maintains liabilities for the rebate amounts that remain unremitted to customers as of each period end and are included in accrued expenses.</span></div>We routinely enter into consignment arrangements to purchase avocados from foreign suppliers in which we do not take legal title of the good prior to selling those goods to customers. The Company has evaluated its role in such transactions and has concluded that it has control of the products due to our ability to determine the sales price and our role as the primary obligor in the transactions with the end customer. As a result, we are deemed to act as the principle rather than the agent, and therefore recognize and report revenue on a gross basis for its consignment arrangements.
CY2020 us-gaap Advertising Expense
AdvertisingExpense
400000 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
300000 USD
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.60
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
900000 USD
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000 USD
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt"><span style="color:#232f84;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Risk concentration</span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accounts receivable from one single customer represented 13% and 11% of trade accounts receivables, net of allowance, as of October 31, 2021 and 2020, respectively. </span></div><div style="margin-top:11pt;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sales to our top 10 customers amounted to approximately 59%, 64%, and 60% of our net sales for the years ended October 31, 2021, 2020 and 2019, respectively. For the year ended October 31, 2021, no single customer represented more than 10% of net sales. For the year ended October 31, 2020, two single customers represented 12% and 10% of net sales, respectively. For the year ended October 31, 2019, one single customer represented 15% of net sales. All of these customers were from our Marketing and Distribution segment.</span></div>
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
22500000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16300000 USD
CY2021Q4 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
11900000 USD
CY2020Q4 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
11900000 USD
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13800000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10400000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
48200000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
38600000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
522800000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
460200000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
98600000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
81100000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
424200000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
379100000 USD
CY2021 us-gaap Depreciation
Depreciation
20400000 USD
CY2020 us-gaap Depreciation
Depreciation
18100000 USD
CY2019 us-gaap Depreciation
Depreciation
16500000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14600000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15300000 USD
CY2021Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
1000000.0 USD
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
900000 USD
CY2021Q4 avo Accrued Freight Costs Current
AccruedFreightCostsCurrent
3900000 USD
CY2020Q4 avo Accrued Freight Costs Current
AccruedFreightCostsCurrent
4400000 USD
CY2021Q4 avo Accrued Construction In Progress Current
AccruedConstructionInProgressCurrent
200000 USD
CY2020Q4 avo Accrued Construction In Progress Current
AccruedConstructionInProgressCurrent
1800000 USD
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2100000 USD
CY2020Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2200000 USD
CY2021Q4 avo Accrued Fruit Costs Current
AccruedFruitCostsCurrent
2200000 USD
CY2020Q4 avo Accrued Fruit Costs Current
AccruedFruitCostsCurrent
800000 USD
CY2021Q4 avo Accrued Legal Settlement
AccruedLegalSettlement
800000 USD
CY2020Q4 avo Accrued Legal Settlement
AccruedLegalSettlement
0 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4000000.0 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2900000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28800000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28300000 USD
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
15700000 USD
CY2020Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
13900000 USD
CY2021Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
1400000 USD
CY2020Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
4300000 USD
CY2021Q4 avo Employee Related Liabilities Noncurrent
EmployeeRelatedLiabilitiesNoncurrent
1600000 USD
CY2020Q4 avo Employee Related Liabilities Noncurrent
EmployeeRelatedLiabilitiesNoncurrent
1800000 USD
CY2021Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
0 USD
CY2020Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
1400000 USD
CY2021Q4 avo Other Miscellaneous Liabilities Noncurrent
OtherMiscellaneousLiabilitiesNoncurrent
1300000 USD
CY2020Q4 avo Other Miscellaneous Liabilities Noncurrent
OtherMiscellaneousLiabilitiesNoncurrent
2900000 USD
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
20000000.0 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
24300000 USD
CY2020 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
200000 USD
CY2019 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
300000 USD
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1300000 USD
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-700000 USD
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3600000 USD
CY2021 us-gaap Interest Income Other
InterestIncomeOther
1700000 USD
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
800000 USD
CY2020 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-4200000 USD
CY2019 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-3700000 USD
CY2021 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1600000 USD
CY2020 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
1300000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1300000 USD
CY2020 us-gaap Interest Income Other
InterestIncomeOther
2400000 USD
CY2019 us-gaap Interest Income Other
InterestIncomeOther
1700000 USD
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-100000 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
500000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
58700000 USD
CY2019 avo Increase Decrease In Investment Investment Income Loss
IncreaseDecreaseInInvestmentInvestmentIncomeLoss
3400000 USD
CY2019 avo Decrease In Investment Dividends Received
DecreaseInInvestmentDividendsReceived
1300000 USD
CY2019 avo Equity Method Investment Increase Contributions
EquityMethodInvestmentIncreaseContributions
1900000 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
62700000 USD
CY2020 avo Increase Decrease In Investment Investment Income Loss
IncreaseDecreaseInInvestmentInvestmentIncomeLoss
4000000.0 USD
CY2020 avo Equity Method Investment Increase Decrease Foreign Translation
EquityMethodInvestmentIncreaseDecreaseForeignTranslation
-500000 USD
CY2020 avo Decrease In Investment Dividends Received
DecreaseInInvestmentDividendsReceived
1700000 USD
CY2020 avo Equity Method Investment Increase Contributions
EquityMethodInvestmentIncreaseContributions
3400000 USD
CY2020 avo Equity Method Investment Decrease Impairment
EquityMethodInvestmentDecreaseImpairment
21200000 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
46700000 USD
CY2021 avo Increase Decrease In Investment Investment Income Loss
IncreaseDecreaseInInvestmentInvestmentIncomeLoss
7500000 USD
CY2021 avo Equity Method Investment Increase Decrease Foreign Translation
EquityMethodInvestmentIncreaseDecreaseForeignTranslation
0 USD
CY2021 avo Decrease In Investment Dividends Received
DecreaseInInvestmentDividendsReceived
1700000 USD
CY2021 avo Equity Method Investment Increase Contributions
EquityMethodInvestmentIncreaseContributions
200000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
52700000 USD
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1100000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
42500000 USD
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
164300000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
174700000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
400000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
600000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
163900000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
174100000 USD
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
8800000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
7400000 USD
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
155100000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
166700000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
8800000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
83800000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
13600000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
58100000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
0 USD
CY2021Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
0 USD
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
164300000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43900000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
4400000 USD
CY2021Q4 avo Lease Right Of Use Asset
LeaseRightOfUseAsset
48300000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3600000 USD
CY2021 us-gaap Lease Cost
LeaseCost
26800000 USD
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2200000 USD
CY2021Q4 avo Lease Liability
LeaseLiability
49400000 USD
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
6500000 USD
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
900000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000000.0 USD
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1100000 USD
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
300000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
5500000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11300000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6200000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1400000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5800000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5300000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1000000.0 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4800000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
200000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4600000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
74900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
48200000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
3900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
28800000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
600000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
46100000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
3300000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y2M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.075
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
200000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3600000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5500000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
1800000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4700000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
1600000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4200000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
1400000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
1200000 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
3200000 USD
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
32300000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
53500000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
6200000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
1700000 USD
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
4500000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5700000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
600000 USD
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
300000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
300000 USD
CY2020 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6900000 USD
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6100000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
4000000.0 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
800000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23700000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
16000000.0 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2600000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2200000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4600000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
11800000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
600000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
700000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2600000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
9500000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
10700000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
9300000 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
12300000 USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.342
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.253
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.011
CY2020 avo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Percent
EffectiveIncomeTaxRateReconciliationNOLCarrybackCARESActPercent
-0.028
CY2019 avo Effective Income Tax Rate Reconciliation Nol Carryback Cares Act Percent
EffectiveIncomeTaxRateReconciliationNOLCarrybackCARESActPercent
0
CY2021 avo Effective Income Tax Rate Reconciliation Change In Foreign Tax Rate Percent
EffectiveIncomeTaxRateReconciliationChangeInForeignTaxRatePercent
0.083
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.016
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.320
CY2020 avo Effective Income Tax Rate Reconciliation Change In Foreign Tax Rate Percent
EffectiveIncomeTaxRateReconciliationChangeInForeignTaxRatePercent
0
CY2019 avo Effective Income Tax Rate Reconciliation Change In Foreign Tax Rate Percent
EffectiveIncomeTaxRateReconciliationChangeInForeignTaxRatePercent
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.009
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.006
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.015
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
600000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21100000 USD
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
800000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15000000.0 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24300000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1100000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-600000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
300000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-200000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
200000 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
5900000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1900000 USD
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