2023 Q1 Form 10-K Financial Statement

#000132858123000020 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.544B $1.628B $8.387B
YoY Change -33.61% -8.63% 5.82%
Cost Of Revenue $1.231B $1.289B $6.473B
YoY Change -28.86% -7.33% 2.74%
Gross Profit $313.7M $339.6M $1.915B
YoY Change -47.4% -13.25% 17.76%
Gross Profit Margin 20.31% 20.86% 22.83%
Selling, General & Admin $155.3M $152.5M $657.0M
YoY Change -10.11% 6.01% 14.41%
% of Gross Profit 49.49% 44.91% 34.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.19M $32.67M $101.6M
YoY Change 51.81% 56.07% 25.81%
% of Gross Profit 9.94% 9.62% 5.31%
Operating Expenses $155.3M $183.8M $657.0M
YoY Change -10.11% 12.02% 14.41%
Operating Profit $127.6M $155.8M $1.158B
YoY Change -68.54% -31.49% 19.14%
Interest Expense $6.361M $1.554M $25.41M
YoY Change 1.71% -127.98% 2.44%
% of Operating Profit 4.99% 1.0% 2.19%
Other Income/Expense, Net $2.406M -$41.00K -$11.47M
YoY Change -157.81% 115.79% -50.03%
Pretax Income $130.0M $157.3M $1.146B
YoY Change -67.62% -29.09% 20.82%
Income Tax $33.30M $39.93M $288.7M
% Of Pretax Income 25.61% 25.39% 25.19%
Net Earnings $96.73M $117.4M $857.7M
YoY Change -68.03% -30.59% 20.38%
Net Earnings / Revenue 6.26% 7.21% 10.23%
Basic Earnings Per Share $2.44 $21.70
Diluted Earnings Per Share $2.43 $2.95 $21.56
COMMON SHARES
Basic Shares Outstanding 39.46M shares 39.45M shares 39.53M shares
Diluted Shares Outstanding 39.84M shares 39.77M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.001B $998.3M $998.3M
YoY Change 8.45% 33.31% 33.31%
Cash & Equivalents $1.001B $998.3M $998.3M
Short-Term Investments
Other Short-Term Assets $20.67M $47.88M $47.88M
YoY Change 35.34% 240.24% 240.24%
Inventory $738.8M $697.6M $697.6M
Prepaid Expenses
Receivables $417.5M $297.2M $297.2M
Other Receivables $14.02M $23.04M $23.04M
Total Short-Term Assets $2.192B $2.064B $2.064B
YoY Change -9.54% 9.45% 9.45%
LONG-TERM ASSETS
Property, Plant & Equipment $772.7M $770.0M $852.1M
YoY Change 57.25% 55.48% 45.17%
Goodwill $138.0M $138.0M
YoY Change 128.48% 128.48%
Intangibles $157.1M $161.4M
YoY Change 944.42% 951.61%
Long-Term Investments
YoY Change
Other Assets $9.887M $11.33M $24.97M
YoY Change -1.21% 41.29% 3.72%
Total Long-Term Assets $1.170B $1.176B $1.176B
YoY Change 71.37% 71.31% 71.31%
TOTAL ASSETS
Total Short-Term Assets $2.192B $2.064B $2.064B
Total Long-Term Assets $1.170B $1.176B $1.176B
Total Assets $3.362B $3.241B $3.241B
YoY Change 8.25% 25.96% 25.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.5M $269.8M $269.8M
YoY Change -18.89% -19.46% -19.46%
Accrued Expenses $84.69M $152.4M $152.4M
YoY Change -70.94% -49.91% -49.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $580.1M $545.8M $545.8M
YoY Change -34.09% -14.81% -14.81%
LONG-TERM LIABILITIES
Long-Term Debt $444.6M $444.4M $474.4M
YoY Change -0.05% -0.05% -0.44%
Other Long-Term Liabilities $17.54M $16.95M $98.84M
YoY Change 15.66% 9.49% -0.27%
Total Long-Term Liabilities $462.2M $461.3M $573.3M
YoY Change 0.47% 0.27% -0.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $580.1M $545.8M $545.8M
Total Long-Term Liabilities $462.2M $461.3M $573.3M
Total Liabilities $1.042B $1.007B $1.183B
YoY Change -22.23% -8.51% -3.07%
SHAREHOLDERS EQUITY
Retained Earnings $1.736B $1.646B
YoY Change 39.32% 73.44%
Common Stock $549.1M $551.7M
YoY Change 1.27% 1.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.145B $2.058B $2.058B
YoY Change
Total Liabilities & Shareholders Equity $3.362B $3.241B $3.241B
YoY Change 8.25% 25.96% 25.96%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $96.73M $117.4M $857.7M
YoY Change -68.03% -30.59% 20.38%
Depreciation, Depletion And Amortization $31.19M $32.67M $101.6M
YoY Change 51.81% 56.07% 25.81%
Cash From Operating Activities $47.99M $227.1M $1.041B
YoY Change -75.88% 62.33% 56.11%
INVESTING ACTIVITIES
Capital Expenditures $30.06M $52.28M $114.1M
YoY Change 72.3% -194.96% 7.13%
Acquisitions $0.00 $515.2M
YoY Change
Other Investing Activities $565.0K $2.448M -$511.3M
YoY Change -78.11% 727.03% -54964.7%
Cash From Investing Activities -$29.50M -$49.83M -$625.5M
YoY Change 98.41% -9.0% 492.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$16.12M -45.98M -$166.3M
YoY Change 57.02% -62.65% -23.66%
NET CHANGE
Cash From Operating Activities $47.99M 227.1M $1.041B
Cash From Investing Activities -$29.50M -49.83M -$625.5M
Cash From Financing Activities -$16.12M -45.98M -$166.3M
Net Change In Cash $2.377M 131.3M $249.4M
YoY Change -98.63% -445.66% -27.39%
FREE CASH FLOW
Cash From Operating Activities $47.99M $227.1M $1.041B
Capital Expenditures $30.06M $52.28M $114.1M
Free Cash Flow $17.93M $174.8M $927.1M
YoY Change -90.12% -10.33% 65.42%

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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Number Of Reportable Segments
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangible assets, and other long-lived assets; legal contingencies; guarantee obligations; indemnifications; assumptions used in retirement, medical, and workers' compensation benefits; assumptions used in the determination of right-of-use (ROU) assets and related lease liabilities; stock-based compensation; fair value measurements; income taxes; and vendor and customer rebates, among others. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. We adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in these estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods.</span></div>
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CY2021Q4 bcc Vendor Rebates And Allowances
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CY2022 bcc Lease Term Minimum Initial Termof Real Estate Leases
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CY2022 bcc Real Estate Leases Cancellation Notice Latest Notice
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P30D
CY2022 bcc Real Estate Leases Cancellation Notice Earliest Notice
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CY2021Q4 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
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CY2022Q4 bcc Logs
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CY2021Q4 bcc Logs
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CY2022Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
46302000 usd
CY2021Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
39362000 usd
CY2022Q4 us-gaap Inventory Net
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697551000 usd
CY2021Q4 us-gaap Inventory Net
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660671000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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1603033000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1259404000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
833010000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
764164000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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770023000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
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495240000 usd
CY2022 us-gaap Number Of Reporting Units
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CY2022Q4 us-gaap Asset Retirement Obligation
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5600000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3000000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
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5100000 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
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4700000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
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2200000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1700000 usd
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1900000 usd
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6840 employee
CY2022Q4 bcc Numberofcollectivebargainingarrangements
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10 integer6
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13400000 usd
CY2021Q4 us-gaap Self Insurance Reserve Current
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9900000 usd
CY2022Q4 us-gaap Self Insurance Reserve Noncurrent
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9600000 usd
CY2021Q4 us-gaap Self Insurance Reserve Noncurrent
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10300000 usd
CY2022Q4 bcc Customer Rebates And Allowances
CustomerRebatesAndAllowances
92900000 usd
CY2021Q4 bcc Customer Rebates And Allowances
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138100000 usd
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1144790000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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945562000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
3289000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2164000 usd
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1146381000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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948851000 usd
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286311000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
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52046000 usd
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CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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3921000 usd
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CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
240740000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
199259000 usd
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
60125000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2022 bcc Stranded Tax Effect Of Pension Plan Termination
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CY2021 bcc Stranded Tax Effect Of Pension Plan Termination
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CY2020 bcc Stranded Tax Effect Of Pension Plan Termination
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CY2022 us-gaap Income Tax Reconciliation Tax Contingencies
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CY2021 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
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CY2020 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
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CY2022 us-gaap Income Tax Reconciliation Tax Credits
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CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
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CY2020 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
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CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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370000 usd
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
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336000 usd
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
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CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
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1325000 usd
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
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CY2020 us-gaap Income Tax Reconciliation Other Reconciling Items
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Income Taxes Paid Net
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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CY2022Q4 us-gaap Deferred Tax Assets Inventory
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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32040000 usd
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DeferredTaxLiabilitiesLeasingArrangements
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CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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22950000 usd
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DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
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6850000 usd
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2804000 usd
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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2482000 usd
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2210000 usd
CY2022 us-gaap Finance Lease Interest Expense
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OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
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CY2022 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
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CY2021 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
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CY2020 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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CY2020 bcc Stranded Tax Effect Of Pension Plan Termination
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CY2022 us-gaap Number Of Reportable Segments
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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335029000 usd
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DepreciationDepletionAndAmortization
101593000 usd
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DepreciationDepletionAndAmortization
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Paymentstoacquirebusinessespropertyplantandequipment
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KPMG LLP
CY2022 dei Auditor Location
AuditorLocation
Boise, ID
CY2022 dei Auditor Firm
AuditorFirmId
185

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