2021 Q1 Form 10-Q Financial Statement

#000176404621000076 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $428.4M $455.6M $240.6M
YoY Change 78.06% 78.66% 2.81%
Cost Of Revenue $147.9M $134.1M $82.70M
YoY Change 78.84% 62.55% -7.39%
Gross Profit $280.5M $321.5M $157.9M
YoY Change 77.64% 86.38% 9.05%
Gross Profit Margin 65.48% 70.57% 65.63%
Selling, General & Admin $134.3M $186.1M $133.1M
YoY Change 0.94% 100.97% 44.16%
% of Gross Profit 47.88% 57.88% 84.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $131.6M $127.0M $2.329M
YoY Change 5550.49% 129.66% 13.55%
% of Gross Profit 46.92% 39.5% 1.47%
Operating Expenses $462.6M $244.2M $268.9M
YoY Change 72.05% 67.03% 3.45%
Operating Profit -$69.50M -$9.621M -$28.31M
YoY Change 145.51% -41.45% 9.21%
Interest Expense $37.40M -$39.60M $30.94M
YoY Change 20.88% -37.93% -6.53%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$55.70M -$10.10M -$114.9M
YoY Change -51.51% -87.41% 94.65%
Income Tax $300.0K -$16.50M $14.75M
% Of Pretax Income
Net Earnings -$56.00M -$13.73M -$129.6M
YoY Change -56.8% -83.81% 118.75%
Net Earnings / Revenue -13.07% -3.01% -53.88%
Basic Earnings Per Share -$0.09 -$0.02 -$0.38
Diluted Earnings Per Share -$0.17 -$0.05 -$0.38
COMMON SHARES
Basic Shares Outstanding 602.3M shares 606.0M shares
Diluted Shares Outstanding 612.6M shares

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $399.0M $258.0M $308.0M
YoY Change 29.55% 239.47% 10166.67%
Cash & Equivalents $399.0M $257.7M $308.0M
Short-Term Investments
Other Short-Term Assets $230.2M $79.15M $22.10M
YoY Change 941.76% 573.62%
Inventory
Prepaid Expenses $64.39M $58.27M $52.10M
Receivables $706.9M $737.7M $343.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.414B $1.148B $728.2M
YoY Change 94.17% 132.74% 24174.93%
LONG-TERM ASSETS
Property, Plant & Equipment $33.57M $36.27M $22.95M
YoY Change 46.23% 101.01%
Goodwill $6.246B $6.043B $1.823B
YoY Change 242.63% 355.03%
Intangibles $7.266B $7.370B $2.282B
YoY Change 218.38% 303.05%
Long-Term Investments
YoY Change
Other Assets $42.50M $31.33M $22.82M
YoY Change 86.27% 68.17%
Total Long-Term Assets $13.70B $13.64B $4.271B
YoY Change 220.79% 313.64% 510.99%
TOTAL ASSETS
Total Short-Term Assets $1.414B $1.148B $728.2M
Total Long-Term Assets $13.70B $13.64B $4.271B
Total Assets $15.11B $14.79B $4.999B
YoY Change 202.34% 290.11% 612.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $94.55M $82.04M $28.58M
YoY Change 230.78% 210.07% 376.38%
Accrued Expenses $532.0M $752.0M $265.0M
YoY Change 100.75% 315.47%
Deferred Revenue $769.0M $707.3M $472.1M
YoY Change 62.89% 73.65% 2.2%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $28.60M $28.60M $12.60M
YoY Change 126.98% 217.78%
Total Short-Term Liabilities $1.467B $1.423B $778.3M
YoY Change 88.54% 118.6% 11018.86%
LONG-TERM LIABILITIES
Long-Term Debt $3.453B $3.458B $1.915B
YoY Change 80.28% 112.32%
Other Long-Term Liabilities $62.14M $49.45M $18.55M
YoY Change 234.95% 161.74% -22.7%
Total Long-Term Liabilities $3.515B $3.507B $1.934B
YoY Change 81.76% 112.89% 7958.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.467B $1.423B $778.3M
Total Long-Term Liabilities $3.515B $3.507B $1.934B
Total Liabilities $5.718B $5.756B $2.906B
YoY Change 96.75% 136.78% 9274.08%
SHAREHOLDERS EQUITY
Retained Earnings -$1.236B -$1.251B
YoY Change 48.34%
Common Stock $10.11B $9.989B $3.033B
YoY Change 233.31% 352.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 6.326M shares
Shareholders Equity $9.119B $9.035B $1.926B
YoY Change
Total Liabilities & Shareholders Equity $15.11B $14.79B $4.999B
YoY Change 202.34% 290.11% 612.12%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income -$56.00M -$13.73M -$129.6M
YoY Change -56.8% -83.81% 118.75%
Depreciation, Depletion And Amortization $131.6M $127.0M $2.329M
YoY Change 5550.49% 129.66% 13.55%
Cash From Operating Activities $174.0M $135.5M $46.11M
YoY Change 277.39% 2556.86% 8.6%
INVESTING ACTIVITIES
Capital Expenditures $33.00M -$29.10M $19.40M
YoY Change 70.15% 11.07% -423.25%
Acquisitions -$400.0K $885.3M
YoY Change -100.05%
Other Investing Activities $400.0K -$1.997B -$881.6M
YoY Change -100.05% 2819.44%
Cash From Investing Activities -$32.60M -$2.026B -$901.0M
YoY Change -96.38% 2041.65% 15024.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $540.6M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.600M 1.557B $1.092B
YoY Change -100.6% 1862.8% -3326.17%
NET CHANGE
Cash From Operating Activities $174.0M 135.5M $46.11M
Cash From Investing Activities -$32.60M -2.026B -$901.0M
Cash From Financing Activities -$6.600M 1.557B $1.092B
Net Change In Cash $143.5M -334.0M $234.7M
YoY Change -38.87% 3174.51% 9403.32%
FREE CASH FLOW
Cash From Operating Activities $174.0M $135.5M $46.11M
Capital Expenditures $33.00M -$29.10M $19.40M
Free Cash Flow $141.0M $164.6M $26.71M
YoY Change 427.87% 425.88% -44.87%

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Background and Nature of Operations <div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Clarivate Plc (“Clarivate,” “us,” “we,” “our,” or the “Company”), is a public limited company organized under the laws of Jersey, Channel Islands. We were initially registered on January 7, 2019, and at our 2020 annual general meeting, our shareholders approved a change of our corporate name from “Clarivate Analytics Plc” to “Clarivate Plc”. Pursuant to the definitive agreement entered into to effect a merger between Camelot Holdings (Jersey) Limited ("Jersey") and Churchill Capital Corp, a Delaware corporation, ("Churchill") (the “2019 Transaction”), the Company was formed for the purposes of completing the 2019 Transaction and related transitions and carrying on the business of Jersey and its subsidiaries.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a provider of proprietary and comprehensive content, analytics, professional services and workflow solutions that enables users across government and academic institutions, life science companies and research and development (“R&amp;D”) intensive corporations to discover, protect and commercialize their innovations. Clarivate has two reportable segments: Science and Intellectual Property ("IP"). Our segment structure is organized to address customer needs by product line. Our Science segment consists of our Academic and Life Sciences Product Lines. Both provide curated, high-value, structured information that is delivered and embedded into the workflows of our customers, which include research intensive corporations, life science organizations and universities world-wide. Our IP segment consists of our Patent, Trademark, Domain and IP Management Product Lines. These Product Lines helps manage customer's end-to-end portfolios of intellectual property from patents to trademarks to corporate website domains. See Note 21 - Segment Information, for additional information on the Company's reportable segments. </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In January 2019, we entered into an Agreement and Plan of Merger (as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated February 26, 2019, and Amendment No. 2 to the Agreement and Plan of Merger, dated March 29, 2019, collectively, the “Merger Agreement”) by and among Churchill, Jersey, CCC Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Clarivate (“Delaware Merger Sub”), Camelot Merger Sub (Jersey) Limited, a private limited company organized under the laws of Jersey, Channel Islands and wholly owned subsidiary of Clarivate (“Jersey Merger Sub”), and the Company, which, among other things, provided for (i) Jersey Merger Sub to be merged with and into Jersey with Jersey being the surviving company in the merger (the “Jersey Merger”) and (ii) Delaware Merger Sub to be merged with and into Churchill with Churchill being the surviving corporation in the merger (the “Delaware Merger”), and together with the Jersey Merger, the “Mergers”.</span></div><div style="margin-bottom:9pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On May 13, 2019, the 2019 Transaction was consummated, and Clarivate became the sole managing member of Jersey, operating and controlling all of the business and affairs of Jersey, through Jersey and its subsidiaries. Following the consummation of the 2019 Transaction on May 13, 2019, the Company’s ordinary shares and warrants began trading on the New York Stock Exchange. All of the Company’s public warrants have subsequently been redeemed. See Note 16 - Shareholders’ Equity for further information regarding the redemption of the Company’s public warrants.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2019 Transaction was accounted for as a reverse recapitalization in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Under this method of accounting, Churchill was treated as the "acquired" company for financial reporting purposes. This determination was primarily based on post 2019 Transaction relative voting rights, composition of the governing board, size of the two entities pre-merger, and intent of the 2019 Transaction. Accordingly, for accounting purposes, the 2019 Transaction was treated as the equivalent of the Company issuing stock for the net assets of Churchill. The net assets of Churchill were stated at historical cost, with no goodwill or other intangible assets resulting from the 2019 Transaction. Reported amounts from operations included herein prior to the 2019 Transaction are those of Jersey.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2020, the Company consummated a public offering of 27,600,000 ordinary shares at $20.25 per share. In June 2020, the Company consummated a public offering of 50,400,000 of our ordinary shares at a share price of $22.50 per share. Of the 50,400,000 ordinary shares, 14,000,000 were ordinary shares offered by Clarivate and 36,400,000 were ordinary shares offered by selling shareholders. The Company received approximately $304,030 in net proceeds from the sale of its ordinary shares, after deducting underwriting discounts and estimated offering expenses payable. We used the net proceeds, in conjunction with the new $1,600,000 incremental term loan facility available to Clarivate on October 1, 2020, and cash on the balance sheet to fund the repayment of CPA Global's parent company outstanding debt of $2,055,822. The Company did not receive any proceeds from the sale of ordinary shares by the selling shareholders. Additionally, in connection with the acquisition of CPA Global, on October 1, 2020, the Company issued 216,683,778 shares to Redtop Holdings Limited, a portfolio company of Leonard Green &amp; Partners, L.P. representing approximately 35% ownership of Clarivate. After giving </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">effect to the Company's acquisition of CPA Global, Onex Corporation and Baring owned approximately 11.4% and 4.5%, respectively, of the Company's ordinary shares.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Risks and Uncertainties</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the World Health Organization characterized COVID-19 as a pandemic. The rapid spread of COVID-19 and the continuously evolving responses to combat it have had an increasingly negative impact on the global economy. In view of the rapidly changing business environment, market volatility and heightened degree of uncertainty resulting from COVID-19, we are currently unable to fully determine its future impact on our business. However, we continue to assess the potential effect on our financial position, results of operations, and cash flows. If the global pandemic continues to evolve into a prolonged crisis, the effects could have an adverse impact on the Company's results of operations, financial condition and cash flows.</span></div>
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CY2020Q4 us-gaap Derivative Fixed Interest Rate
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0.02183
CY2020Q2 us-gaap Derivative Fixed Interest Rate
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0.01695
CY2021Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
978000 USD
CY2021Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
1023000 USD
CY2020Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
0 USD
CY2021Q1 clvt Decrease In Operating Lease Right Of Use Asset
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40984000 USD
CY2021Q1 us-gaap Gain Loss On Termination Of Lease
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-3104000 USD
CY2021Q1 clvt Employee Phantom Share Plan Liability Current
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171889000 USD
CY2020Q4 clvt Employee Phantom Share Plan Liability Current
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193162000 USD
CY2021Q1 us-gaap Business Combination Contingent Consideration Liability Current
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0 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Current
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130594000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
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63302000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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98481000 USD
CY2021Q1 us-gaap Accrued Professional Fees Current
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49729000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
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67628000 USD
CY2021Q1 us-gaap Taxes Payable Current
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42872000 USD
CY2020Q4 us-gaap Taxes Payable Current
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45119000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
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213559000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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181372000 USD
CY2021Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
541351000 USD
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
716356000 USD
CY2021Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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-52000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-40000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-6000 USD
CY2021Q1 us-gaap Defined Benefit Plan Service Cost
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368000 USD
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
226000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
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82000 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
79000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-19000 USD
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
392000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
246000 USD
CY2021Q1 us-gaap Debt Current
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28600000 USD
CY2021Q1 us-gaap Debt Instrument Carrying Amount
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3540250000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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3547400000 USD
CY2021Q1 us-gaap Deferred Finance Costs Net
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49346000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
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51309000 USD
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
9222000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
9591000 USD
CY2020Q4 us-gaap Debt Current
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28600000 USD
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3453082000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3457900000 USD
CY2020Q4 us-gaap Debt Instrument Face Amount
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1600000 USD
CY2021Q1 clvt Revenue From Contract With Customer Excluding Assessed Tax Including Deferred Revenues Adjustment
RevenueFromContractWithCustomerExcludingAssessedTaxIncludingDeferredRevenuesAdjustment
431454000 USD
CY2020Q1 clvt Revenue From Contract With Customer Excluding Assessed Tax Including Deferred Revenues Adjustment
RevenueFromContractWithCustomerExcludingAssessedTaxIncludingDeferredRevenuesAdjustment
242474000 USD
CY2021Q1 clvt Contractwith Customer Liability Adjustments
ContractwithCustomerLiabilityAdjustments
3024000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
428430000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
240592000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
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737733000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
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707318000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
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41399000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
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706879000 USD
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
769030000 USD
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
45404000 USD
CY2021Q1 clvt Increase Decrease In Contract With Customer Accounts Receivable
IncreaseDecreaseInContractWithCustomerAccountsReceivable
30854000 USD
CY2021Q1 clvt Increase Decrease In Contract With Customer Current Liability
IncreaseDecreaseInContractWithCustomerCurrentLiability
-61712000 USD
CY2021Q1 clvt Increase Decrease In Contract With Customer Non Current Liability
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-4005000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
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333858000 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
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407325000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
19723000 USD
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343177000 USD
CY2020Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
472101000 USD
CY2020Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
18774000 USD
CY2020Q1 clvt Increase Decrease In Contract With Customer Accounts Receivable
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-9319000 USD
CY2020Q1 clvt Increase Decrease In Contract With Customer Current Liability
IncreaseDecreaseInContractWithCustomerCurrentLiability
-64776000 USD
CY2020Q1 clvt Increase Decrease In Contract With Customer Non Current Liability
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949000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
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231275000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
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105150000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
74238000 USD
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0.486
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P12M
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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0.514
CY2021Q1 clvt Revenue Remaining Performance Obligation Percentage Expectedto Be Recognizedin12months
RevenueRemainingPerformanceObligationPercentageExpectedtoBeRecognizedin12months
0.252
CY2021Q1 clvt Revenue Remaining Performance Obligation Percentage Expected To Be Recognized In3 To5 Years
RevenueRemainingPerformanceObligationPercentageExpectedToBeRecognizedIn3To5Years
0.257
CY2021Q1 clvt Revenue Remaining Performance Obligation Percentage Expected To Be Recognized In6 To10 Years
RevenueRemainingPerformanceObligationPercentageExpectedToBeRecognizedIn6To10Years
0.005
CY2021Q1 clvt Common Stock Shares Subscription
CommonStockSharesSubscription
0 shares
CY2021Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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1
CY2021Q1 us-gaap Common Stock Shares Issued
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611355226 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
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0.00
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2021Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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52800000 shares
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2021Q1 clvt Class Of Warrant Or Right Days From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRightDaysFromWhichWarrantsOrRightsExercisable
P30D
CY2019Q4 clvt Number Of Warrants Exercised
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100114
CY2020Q1 us-gaap Class Of Warrant Or Right Outstanding
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24132666 shares
CY2021Q1 us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
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2895638 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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60000000 shares
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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10660000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17469000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1400000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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7024701 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
361000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
2863000 USD
CY2019Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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52800000 shares
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11.50
CY2021Q1 clvt Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
212174 shares
CY2021Q1 clvt Class Of Warrant Or Right Shares Withheld For Exercise Price
ClassOfWarrantOrRightSharesWithheldForExercisePrice
80610 shares
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
131564 shares
CY2020Q1 clvt Stock Issued During Period Shares Private Warrants Exercised
StockIssuedDuringPeriodSharesPrivateWarrantsExercised
0 shares
CY2021Q1 clvt Stock Issued During Period Shares Private Warrants Exercised
StockIssuedDuringPeriodSharesPrivateWarrantsExercised
212174 shares
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
5309713 shares
CY2021Q1 us-gaap Income Tax Expense Benefit
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3569000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-20385000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14753000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-114880000 USD
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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38149453000 shares
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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-23954000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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608598235 shares
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
343129833 shares
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
5863000 USD
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2021Q1 us-gaap Other Operating Income
OtherOperatingIncome
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CY2020Q1 us-gaap Other Operating Income
OtherOperatingIncome
169000 USD
CY2021Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-16230000 USD
CY2020Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
6032000 USD
CY2021Q1 us-gaap Number Of Reportable Segments
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2 segments
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
428430000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
240592000 USD
CY2021Q1 clvt Adjusted Earnings Before Income Taxes Deprecation Amortization Interest Income And Expense
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164833000 USD
CY2020Q1 clvt Adjusted Earnings Before Income Taxes Deprecation Amortization Interest Income And Expense
AdjustedEarningsBeforeIncomeTaxesDeprecationAmortizationInterestIncomeAndExpense
78222000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3569000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14753000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
131654000 USD
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
51441000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
37393000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
30940000 USD
CY2021Q1 clvt Transition Services Agreement Costs
TransitionServicesAgreementCosts
0 USD
CY2020Q1 clvt Transition Services Agreement Costs
TransitionServicesAgreementCosts
1551000 USD
CY2021Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
46000 USD
CY2020Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
2228000 USD
CY2021Q1 clvt Deferred Revenues Adjustment
DeferredRevenuesAdjustment
3024000 USD
CY2020Q1 clvt Deferred Revenues Adjustment
DeferredRevenuesAdjustment
1882000 USD
CY2021Q1 clvt Transaction Related Costs
TransactionRelatedCosts
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CY2020Q1 clvt Transaction Related Costs
TransactionRelatedCosts
26689000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10660000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17469000 USD
CY2021Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
64667000 USD
CY2020Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
7754000 USD
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
55632000 USD
CY2021Q1 clvt Other Reconciling Items Ebita To Net Income Loss Attributable To Parent
OtherReconcilingItemsEBITAToNetIncomeLossAttributableToParent
15628000 USD
CY2020Q1 clvt Other Reconciling Items Ebita To Net Income Loss Attributable To Parent
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-2484000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
0 USD
CY2020Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
0 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
240592000 USD
CY2020Q1 clvt Cost Of Revenues Excluding Depreciation And Amortization
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82682000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
133055000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
2329000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
49112000 USD
CY2020Q1 us-gaap Restructuring Settlement And Impairment Provisions
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7754000 USD
CY2020Q1 us-gaap Other Operating Income Expense Net
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6032000 USD
CY2020Q1 us-gaap Operating Expenses
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268900000 USD
CY2020Q1 us-gaap Operating Income Loss
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CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
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55632000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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-83940000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
30940000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-114880000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14753000 USD
CY2020Q1 us-gaap Net Income Loss
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-129633000 USD
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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343129833 shares
CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2020Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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67000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5513000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8470000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1248599000 USD
CY2020Q1 clvt Stock Issued During Period Value Public Warrants Exercised
StockIssuedDuringPeriodValuePublicWarrantsExercised
277526000 USD
CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Depreciation And Amortization
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51441000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1182000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
10302000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
539714000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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16384000 USD
CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-8470000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1925681000 USD
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
4214000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
16502000 USD
CY2020Q1 clvt Mark To Market Loss On Contingent Shares
MarkToMarketLossOnContingentShares
1187000 USD
CY2020Q1 us-gaap Fair Value Adjustment Of Warrants
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55632000 USD
CY2020Q1 us-gaap Increase Decrease In Deferred Charges
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-1008000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
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7015000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2020Q1 us-gaap Increase Decrease In Prepaid Expense
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7349000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets
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-54644000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
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758000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
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-13222000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
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-13222000 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
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40726000 USD
CY2020Q1 clvt Increase Decrease Operating Lease Right Of Use Assets
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-5919000 USD
CY2020Q1 clvt Increase Decrease Lease Liabilities
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5876000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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46106000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19395000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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885323000 USD
CY2020Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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3751000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020Q1 us-gaap Repayments Of Other Long Term Debt
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3150000 USD
CY2020Q1 us-gaap Repayments Of Long Term Lines Of Credit
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65000000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1182000 USD
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
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5014000 USD
CY2020Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
4115000 USD
CY2020Q1 clvt Proceeds From Debt Restructure
ProceedsFromDebtRestructure
360000000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
540597000 USD
CY2020Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
277526000 USD
CY2020Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
277526000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1182000 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10420000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1091606000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2013000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
234732000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76130000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
9000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76139000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
310871000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
308021000 USD
CY2020Q1 us-gaap Restricted Cash
RestrictedCash
2850000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
310871000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
11405000 USD
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
4797000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9528000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-13222000 USD
CY2020Q1 clvt Mark To Market Loss On Contingent Shares
MarkToMarketLossOnContingentShares
1187000 USD

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