$CNXN
PC CONNECTION INC

2020 Q2 Form 10-Q Financial Statement

#000155837020010185 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $550.0M $741.1M $632.9M
YoY Change -25.78% 4.88% 1.28%
Cost Of Revenue $461.0M $624.1M $533.6M
YoY Change -26.13% 4.17% 0.96%
Gross Profit $89.00M $117.0M $99.35M
YoY Change -23.92% 8.83% 3.06%
Gross Profit Margin 16.18% 15.79% 15.7%
Selling, General & Admin $77.42M $84.66M $81.24M
YoY Change -8.56% 7.03% 4.68%
% of Gross Profit 86.99% 72.37% 81.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.400M $3.400M $3.700M
YoY Change 0.0% 0.0% 12.12%
% of Gross Profit 3.82% 2.91% 3.72%
Operating Expenses $77.42M $84.66M $81.24M
YoY Change -8.56% 2.62% 0.41%
Operating Profit $10.59M $32.32M $17.41M
YoY Change -67.24% 29.29% 12.32%
Interest Expense $5.000K $184.0K $200.0K
YoY Change -97.28% -8.0% 100.0%
% of Operating Profit 0.05% 0.57% 1.15%
Other Income/Expense, Net $5.000K $184.0K $198.0K
YoY Change -97.28%
Pretax Income $10.59M $32.51M $17.61M
YoY Change -67.41% 29.51% 12.87%
Income Tax $2.950M $8.839M $4.880M
% Of Pretax Income 27.85% 27.19% 27.72%
Net Earnings $7.643M $23.67M $12.73M
YoY Change -67.71% 30.04% 12.63%
Net Earnings / Revenue 1.39% 3.19% 2.01%
Basic Earnings Per Share $0.29 $0.90 $0.48
Diluted Earnings Per Share $0.29 $0.89 $0.48
COMMON SHARES
Basic Shares Outstanding 26.11M 26.34M 26.36M
Diluted Shares Outstanding 26.28M 26.49M 26.53M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.9M $69.70M $93.50M
YoY Change 138.02% 1.46% 31.69%
Cash & Equivalents $165.9M $69.74M $93.50M
Short-Term Investments
Other Short-Term Assets $13.50M $7.100M $7.300M
YoY Change 90.14% 12.7% 14.06%
Inventory $165.6M $175.9M $137.7M
Prepaid Expenses
Receivables $446.7M
Other Receivables
Total Short-Term Assets $791.7M $753.7M $672.3M
YoY Change 5.05% 16.44% 17.6%
LONG-TERM ASSETS
Property, Plant & Equipment $65.39M $74.60M $72.20M
YoY Change -12.35% 62.17% 64.09%
Goodwill $73.60M
YoY Change
Intangibles $7.698M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.157M $1.000M $1.100M
YoY Change 15.7% -44.44% -35.29%
Total Long-Term Assets $162.6M $158.1M $156.1M
YoY Change 2.84% 18.25% 18.35%
TOTAL ASSETS
Total Short-Term Assets $791.7M $753.7M $672.3M
Total Long-Term Assets $162.6M $158.1M $156.1M
Total Assets $954.3M $911.8M $828.4M
YoY Change 4.67% 16.75% 17.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $247.0M $260.2M $204.2M
YoY Change -5.07% 29.52% 34.25%
Accrued Expenses $59.00M $61.10M $54.70M
YoY Change -3.44% 16.6% 34.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $308.2M $321.2M $258.9M
YoY Change -4.05% 26.81% 33.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.184M $13.20M $14.80M
YoY Change -75.88% 594.74% 678.95%
Total Long-Term Liabilities $3.184M $13.20M $14.80M
YoY Change -75.88% 594.74% 678.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $308.2M $321.2M $258.9M
Total Long-Term Liabilities $3.184M $13.20M $14.80M
Total Liabilities $343.1M $351.6M $290.9M
YoY Change -2.41% 29.6% 37.48%
SHAREHOLDERS EQUITY
Retained Earnings $537.2M
YoY Change
Common Stock $119.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $611.2M $560.2M $537.6M
YoY Change
Total Liabilities & Shareholders Equity $954.3M $911.8M $828.4M
YoY Change 4.67% 16.75% 17.74%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $7.643M $23.67M $12.73M
YoY Change -67.71% 30.04% 12.63%
Depreciation, Depletion And Amortization $3.400M $3.400M $3.700M
YoY Change 0.0% 0.0% 12.12%
Cash From Operating Activities $57.80M -$14.80M $18.10M
YoY Change -490.54% -444.19% -51.34%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$7.300M -$6.600M
YoY Change -50.68% 48.98% 32.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.600M -$7.300M -$6.600M
YoY Change -50.68% 48.98% 32.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 400.0K -1.600M -9.800M
YoY Change -125.0% 0.0% -13.27%
NET CHANGE
Cash From Operating Activities 57.80M -14.80M 18.10M
Cash From Investing Activities -3.600M -7.300M -6.600M
Cash From Financing Activities 400.0K -1.600M -9.800M
Net Change In Cash 54.60M -23.70M 1.700M
YoY Change -330.38% 977.27% -91.87%
FREE CASH FLOW
Cash From Operating Activities $57.80M -$14.80M $18.10M
Capital Expenditures -$3.600M -$7.300M -$6.600M
Free Cash Flow $61.40M -$7.500M $24.70M
YoY Change -918.67% -181.52% -41.47%

Facts In Submission

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PC CONNECTION, INC.
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cnxn Adjustments To Employee Stock Purchase Plan
AdjustmentsToEmployeeStockPurchasePlan
536000
cnxn Adjustments To Employee Stock Purchase Plan
AdjustmentsToEmployeeStockPurchasePlan
609000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
201000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
72000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18314000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11416000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
75883000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21964000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90060000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91703000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
165943000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69739000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26348000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1082000
us-gaap Income Taxes Paid
IncomeTaxesPaid
11962000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
172000
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2190000
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
157000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
178000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
7643000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
158000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10049000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26506000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial Unicode MS';font-size:9pt;line-height:1.19;text-indent:18pt;margin:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates in the Preparation of Financial Statements</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the amounts reported in the accompanying condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:18pt;margin:0pt;">The Company’s operations and financial performance in certain areas of its business were negatively impacted by the coronavirus pandemic (“COVID-19”) in the six months ended June 30, 2020. The extent to which the COVID-19 pandemic impacts the Company’s financial results and operations for the remainder of 2020 and beyond will depend on future developments that are highly uncertain and cannot be predicted at this time. The Company updated its estimates and judgements in response to the economic uncertainty associated with COVID-19, which were reflected in the amounts reported in the accompanying condensed consolidated financial statements. The Company has experienced, and may continue to experience, delays in collecting amounts owed to it, and in some cases, may experience inabilities to collect altogether. As a result, the Company increased its customer allowance for doubtful accounts by $3,250 in the six months ended June 30, 2020 compared with the same period a year ago. The Company has also evaluated the potential impact of the pandemic on the carrying values of its goodwill and intangible assets, and based on the assessment, did not identify any indications to suggest that an impairment may exist. These estimates may change as new events occur and actual results could differ materially from these estimates.</p>
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
3250000
CY2019 cnxn Number Of Office Facilities Closed
NumberOfOfficeFacilitiesClosed
1
CY2020Q2 cnxn Restructuring And Other Charges
RestructuringAndOtherCharges
992000
cnxn Restructuring And Other Charges
RestructuringAndOtherCharges
992000
cnxn Restructuring And Other Charges
RestructuringAndOtherCharges
703000
CY2020Q2 cnxn Accrued Employee Termination Benefits
AccruedEmployeeTerminationBenefits
549000
CY2019Q2 cnxn Accrued Employee Termination Benefits
AccruedEmployeeTerminationBenefits
373000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
550002000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741076000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1261852000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1373997000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2679000
cnxn Contract With Customer Liability Advance Payments Received
ContractWithCustomerLiabilityAdvancePaymentsReceived
7168000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5123000
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4724000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5942000
cnxn Contract With Customer Liability Advance Payments Received
ContractWithCustomerLiabilityAdvancePaymentsReceived
6297000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26279000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26494000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26350000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
23668000
us-gaap Net Income Loss
NetIncomeLoss
22539000
us-gaap Net Income Loss
NetIncomeLoss
36395000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26107000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26337000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26172000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
cnxn Number Of Additional Leases Not Yet Commenced
NumberOfAdditionalLeasesNotYetCommenced
0
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1177000
us-gaap Operating Lease Cost
OperatingLeaseCost
2339000
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
43000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
86000
CY2020Q2 us-gaap Lease Cost
LeaseCost
1220000
us-gaap Lease Cost
LeaseCost
2425000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1206000
us-gaap Operating Lease Payments
OperatingLeasePayments
2366000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M13D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0392
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1171000
us-gaap Operating Lease Cost
OperatingLeaseCost
2381000
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
43000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
86000
CY2019Q2 us-gaap Lease Cost
LeaseCost
1214000
us-gaap Lease Cost
LeaseCost
2467000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1249000
us-gaap Operating Lease Payments
OperatingLeasePayments
2512000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y6M29D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0392
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2291000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4345000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3364000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2824000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1699000
CY2020Q2 cnxn Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
1594000
CY2020Q2 cnxn Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
888000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17005000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1440000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
15565000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14755000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11566000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3999000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
550002000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741076000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1261852000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1373997000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
10588000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
32323000
us-gaap Operating Income Loss
OperatingIncomeLoss
31239000
us-gaap Operating Income Loss
OperatingIncomeLoss
49732000
CY2020Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
5000
CY2019Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
184000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
96000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
382000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10593000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
32507000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
31335000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
50114000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3355000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3368000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
6502000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
7077000
CY2020Q2 us-gaap Assets
Assets
954340000
CY2019Q2 us-gaap Assets
Assets
911802000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2020Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
50000000
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2022-02-10
CY2020Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
80000000
CY2019Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2020Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2019Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
50000000
CY2020Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
50000000

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