$CIO
City Office REIT, Inc.

2024 Q2 Form 10-Q Financial Statement

#000119312524129905 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $42.34M $44.49M
YoY Change -5.07% -3.19%
Cost Of Revenue $17.49M $17.74M
YoY Change 1.43% 0.14%
Gross Profit $24.85M $26.75M
YoY Change -9.17% -5.27%
Gross Profit Margin 58.69% 60.12%
Selling, General & Admin $3.820M $3.711M
YoY Change 4.14% -1.43%
% of Gross Profit 15.37% 13.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.72M $15.08M
YoY Change -6.63% -1.5%
% of Gross Profit 59.25% 56.36%
Operating Expenses $36.04M $36.53M
YoY Change 85.4% -0.7%
Operating Profit $6.307M $7.963M
YoY Change -20.39% -13.14%
Interest Expense $8.472M $8.417M
YoY Change -202.02% 1.47%
% of Operating Profit 134.33% 105.7%
Other Income/Expense, Net
YoY Change
Pretax Income -$3.627M -$454.0K
YoY Change 602.91% -152.0%
Income Tax
% Of Pretax Income
Net Earnings -$3.752M -$589.0K
YoY Change 48.01% -183.66%
Net Earnings / Revenue -8.86% -1.32%
Basic Earnings Per Share -$0.14 -$0.06
Diluted Earnings Per Share -$0.14 -$0.06
COMMON SHARES
Basic Shares Outstanding 40.15M 40.15M
Diluted Shares Outstanding 40.15M 40.10M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.01M $29.53M
YoY Change -26.98% -17.63%
Cash & Equivalents $28.01M $29.53M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $80.12M $82.65M
YoY Change -8.24% 0.04%
LONG-TERM ASSETS
Property, Plant & Equipment $1.317B $1.340B
YoY Change -2.89% -4.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.04M $37.05M
YoY Change 10.4% -3.07%
Total Long-Term Assets $1.400B $1.423B
YoY Change -3.43% -4.71%
TOTAL ASSETS
Total Short-Term Assets $80.12M $82.65M
Total Long-Term Assets $1.400B $1.423B
Total Assets $1.481B $1.506B
YoY Change -3.7% -4.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.15M $29.91M
YoY Change 11.52% 1.29%
Accrued Expenses $8.417M $8.484M
YoY Change -2.97% -2.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000K $6.000K
YoY Change
Total Short-Term Liabilities $42.57M $38.40M
YoY Change 8.33% 0.35%
LONG-TERM LIABILITIES
Long-Term Debt $650.9M $669.8M
YoY Change -4.26% -5.66%
Other Long-Term Liabilities $27.92M $29.66M
YoY Change -4.92% -17.88%
Total Long-Term Liabilities $678.8M $699.5M
YoY Change -4.29% -6.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.57M $38.40M
Total Long-Term Liabilities $678.8M $699.5M
Total Liabilities $721.4M $737.9M
YoY Change -3.67% -5.93%
SHAREHOLDERS EQUITY
Retained Earnings $205.0M $214.7M
YoY Change -13.01% -11.39%
Common Stock $440.4M $439.3M
YoY Change 0.76% 0.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $758.5M $767.5M
YoY Change
Total Liabilities & Shareholders Equity $1.481B $1.506B
YoY Change -3.7% -4.46%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$3.752M -$589.0K
YoY Change 48.01% -183.66%
Depreciation, Depletion And Amortization $14.72M $15.08M
YoY Change -6.63% -1.5%
Cash From Operating Activities $15.32M $16.39M
YoY Change 11.8% 18.03%
INVESTING ACTIVITIES
Capital Expenditures $5.581M $5.989M
YoY Change -13.38% -47.39%
Acquisitions
YoY Change
Other Investing Activities -$5.619M -$1.505M
YoY Change 13.72% 45.13%
Cash From Investing Activities -$11.20M -$7.494M
YoY Change -1.62% -39.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.138M -8.920M
YoY Change 118.02% -236.94%
NET CHANGE
Cash From Operating Activities 15.32M 16.39M
Cash From Investing Activities -11.20M -7.494M
Cash From Financing Activities -4.138M -8.920M
Net Change In Cash -22.00K -28.00K
YoY Change -105.26% -100.35%
FREE CASH FLOW
Cash From Operating Activities $15.32M $16.39M
Capital Expenditures $5.581M $5.989M
Free Cash Flow $9.735M $10.40M
YoY Change 34.15% 315.88%

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CY2023Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2024Q1 us-gaap Increase Decrease In Contract With Customer Liability
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368000
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-278000
CY2024Q1 cio Increase Decrease In Tenant Rent Deposits
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655000
CY2023Q1 cio Increase Decrease In Tenant Rent Deposits
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137000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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13883000
CY2024Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
5989000
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
11383000
CY2024Q1 us-gaap Increase Decrease In Deferred Charges Investing
IncreaseDecreaseInDeferredChargesInvesting
1505000
CY2023Q1 us-gaap Increase Decrease In Deferred Charges Investing
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1037000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
26000
CY2023Q1 us-gaap Payments Of Debt Extinguishment Costs
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236000
CY2024Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
4000000
CY2023Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
25000000
CY2024Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
5529000
CY2023Q1 us-gaap Repayments Of Debt
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6683000
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5849000
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9799000
CY2024Q1 us-gaap Payments To Minority Shareholders
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444000
CY2023Q1 us-gaap Payments To Minority Shareholders
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235000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1072000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1643000
CY2024Q1 us-gaap Proceeds From Minority Shareholders
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0
CY2023Q1 us-gaap Proceeds From Minority Shareholders
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110000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6514000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-28000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7977000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43392000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44262000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43364000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52239000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29533000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35854000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13831000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16385000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43364000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52239000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
8029000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
7256000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7526000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7811000
CY2024Q1 cio Payments Of Deferred Leasing Costs Included In Accounts Payable
PaymentsOfDeferredLeasingCostsIncludedInAccountsPayable
3026000
CY2023Q1 cio Payments Of Deferred Leasing Costs Included In Accounts Payable
PaymentsOfDeferredLeasingCostsIncludedInAccountsPayable
1207000
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2013-11-26
CY2024Q1 us-gaap Operations Commenced Date1
OperationsCommencedDate1
2014-04-21
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
123127000
CY2024Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
15106000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
82668000
CY2024Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7713000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
40459000
CY2024Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
7393000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
123132000
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
15106000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
80698000
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7370000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42434000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
7736000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4748000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6194000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5887000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4900000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4206000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7131000
CY2024Q1 cio Finite Lived Intangible Assets Amortization Expected To Be Recognized Net
FiniteLivedIntangibleAssetsAmortizationExpectedToBeRecognizedNet
33066000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
671191000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
672720000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2954000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3258000
CY2024Q1 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
12000
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
48000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
668249000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
669510000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
106146000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
254697000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
29563000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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176477000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
104308000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
671191000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
165595000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
660090000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P50Y
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P50Y
CY2024Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
255405000
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
1499000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-290000
CY2024Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
37592000
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
38914000
CY2024Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
6778000
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
6743000
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
44370000
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
45657000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
96163000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
119416000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
109150000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
92233000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
77533000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12483000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12564000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8484000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
8550000
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
9763000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
9820000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1573000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1551000
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.062
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2024Q1 cio Financing Lease Cost
FinancingLeaseCost
100000
CY2023Q1 cio Financing Lease Cost
FinancingLeaseCost
100000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
459000
CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
6000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
770000
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
8000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
724000
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
8000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
587000
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
8000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
587000
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
8000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
25976000
CY2024Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
6930000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29103000
CY2024Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6968000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20619000
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5395000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8484000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1573000
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2022Q2 cio Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfShares
3763580
CY2024Q1 cio Schedule Of Share Based Compensation Arrangement By Share Based Payment Award For Defined Performance
ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardForDefinedPerformance
The payouts under the Performance RSU Awards are evaluated on a sliding scale as follows: TSR below the 30th percentile of the Peer Group would result in a 50% payout; TSR at the 50th percentile of the Peer Group would result in a 100% payout; and TSR at or above the 75th percentile of the Peer Group would result in a 150% payout. Payouts are mathematically interpolated between these stated percentile targets, subject to a 150% maximum.
CY2024Q1 cio Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
3539000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.45
CY2023Q1 cio Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodGrantDateFairValue
3729000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.03
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2024Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1070000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1024000

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