$COMP
Compass, Inc.

2023 Q3 Form 10-Q Financial Statement

#000156319023000182 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.337B $1.494B
YoY Change -10.46% -26.04%
Cost Of Revenue $1.096B $1.224B
YoY Change -10.0% -25.95%
Gross Profit $241.2M $270.0M
YoY Change -12.51% -26.47%
Gross Profit Margin 18.03% 18.07%
Selling, General & Admin $211.0M $231.9M
YoY Change -28.33% -25.67%
% of Gross Profit 87.48% 85.89%
Research & Development $45.80M $45.40M
YoY Change -43.8% -57.65%
% of Gross Profit 18.99% 16.81%
Depreciation & Amortization $21.30M $22.30M
YoY Change 1.43% -12.2%
% of Gross Profit 8.83% 8.26%
Operating Expenses $1.376B $299.6M
YoY Change -16.36% -85.86%
Operating Profit -$38.90M -$29.60M
YoY Change -74.37% -70.19%
Interest Expense $1.900M -$1.600M
YoY Change 111.11% -328.57%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$39.30M -$46.20M
YoY Change -74.08% -53.66%
Income Tax -$500.0K $0.00
% Of Pretax Income
Net Earnings -$39.40M -$47.80M
YoY Change -74.45% -52.77%
Net Earnings / Revenue -2.95% -3.2%
Basic Earnings Per Share -$0.08 -$0.10
Diluted Earnings Per Share -$0.08 -$0.10
COMMON SHARES
Basic Shares Outstanding 466.1M shares 461.1M shares
Diluted Shares Outstanding 470.9M shares 461.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.0M $335.4M
YoY Change -38.01% -22.09%
Cash & Equivalents $220.0M $335.4M
Short-Term Investments
Other Short-Term Assets $62.50M $63.70M
YoY Change -32.43% -41.93%
Inventory
Prepaid Expenses
Receivables $41.00M $94.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $357.8M $493.9M
YoY Change -33.96% -25.14%
LONG-TERM ASSETS
Property, Plant & Equipment $161.7M $610.2M
YoY Change -17.79% 223.54%
Goodwill $208.8M $203.8M
YoY Change 5.19% 2.77%
Intangibles $86.10M $86.40M
YoY Change -20.06% -25.45%
Long-Term Investments
YoY Change
Other Assets $27.80M $30.30M
YoY Change -48.8% -48.82%
Total Long-Term Assets $905.8M $930.7M
YoY Change -13.51% -11.83%
TOTAL ASSETS
Total Short-Term Assets $357.8M $493.9M
Total Long-Term Assets $905.8M $930.7M
Total Assets $1.264B $1.425B
YoY Change -20.48% -16.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.60M $23.30M
YoY Change -49.44% -46.44%
Accrued Expenses $210.0M $210.0M
YoY Change -29.2% -24.73%
Deferred Revenue
YoY Change
Short-Term Debt $27.90M $180.4M
YoY Change -23.56% 493.42%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $337.6M $510.7M
YoY Change -23.95% 13.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.50M $462.2M
YoY Change 141.94% 2920.88%
Total Long-Term Liabilities $22.50M $462.2M
YoY Change 141.94% 2920.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $337.6M $510.7M
Total Long-Term Liabilities $22.50M $462.2M
Total Liabilities $786.2M $977.0M
YoY Change -17.02% 1.81%
SHAREHOLDERS EQUITY
Retained Earnings -$2.434B -$2.395B
YoY Change 19.41% 27.09%
Common Stock $2.908B $2.842B
YoY Change 8.66% 7.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $474.0M $447.6M
YoY Change
Total Liabilities & Shareholders Equity $1.264B $1.425B
YoY Change -20.48% -16.95%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$39.40M -$47.80M
YoY Change -74.45% -52.77%
Depreciation, Depletion And Amortization $21.30M $22.30M
YoY Change 1.43% -12.2%
Cash From Operating Activities $15.00M $53.30M
YoY Change -127.99% -673.12%
INVESTING ACTIVITIES
Capital Expenditures $2.800M $2.600M
YoY Change -118.06% -112.62%
Acquisitions
YoY Change
Other Investing Activities $700.0K $0.00
YoY Change -128.0% -100.0%
Cash From Investing Activities -$2.100M -$2.600M
YoY Change -88.33% -93.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -128.3M -78.90M
YoY Change 3107.5% -2565.63%
NET CHANGE
Cash From Operating Activities 15.00M 53.30M
Cash From Investing Activities -2.100M -2.600M
Cash From Financing Activities -128.3M -78.90M
Net Change In Cash -115.4M -28.20M
YoY Change 52.65% -37.89%
FREE CASH FLOW
Cash From Operating Activities $15.00M $53.30M
Capital Expenditures $2.800M $2.600M
Free Cash Flow $12.20M $50.70M
YoY Change -132.02% 348.67%

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Business and Basis of Presentation <div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Description of the Business </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Compass, Inc. (the “Company”) was incorporated in Delaware on October 4, 2012 under the name Urban Compass, Inc. On January 8, 2021, the board of directors approved a change to the Company’s name from Urban Compass, Inc. to Compass, Inc. On April 6, 2021, the Company completed its initial public offering (“IPO”) and the Company’s Class A common stock began trading on the New York Stock Exchange on April 1, 2021 under the symbol “COMP”.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients. The Company’s platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service and other critical functionality, all custom-built for the real estate industry, which enables the Company’s core brokerage services. The platform also uses proprietary data, analytics, artificial intelligence, and machine learning to deliver high value recommendations and outcomes for Compass agents and their clients. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s agents are independent contractors who affiliate their real estate licenses with the Company, operating their businesses on the Company’s platform and under the Compass brand. The Company generates revenue from clients through its agents by assisting home sellers and buyers in listing, marketing, selling and finding homes as well as through the provision of services adjacent to the transaction, like title and escrow services, which comprise a smaller portion of the Company’s revenue to date. The Company currently generates substantially all of its revenue from commissions paid by clients at the time that a home is transacted. </span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company’s condensed consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the assets, liabilities, revenues and expenses of all controlled subsidiaries. The condensed consolidated statements of operations include the results of entities acquired from the date of each respective acquisition. Interests held by third parties in consolidated subsidiaries are presented as non-controlling interests, which represents the non-controlling stockholders’ interests in the underlying net assets of the Company’s consolidated subsidiaries. For entities where the Company does not have a controlling interest (financial or operating), the investments in such entities are accounted for using the equity method. The Company applies the equity method of accounting when it has the ability to exercise significant influence over the operating and financial policies of an investee. The Company measures all other investments at fair value with changes in fair value recognized in net income or in the case that an equity investment does not have readily determinable fair values, at cost minus impairment (if any) plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The unaudited interim condensed consolidated financial statements and related disclosures have been prepared by management on a basis consistent with the annual consolidated financial statements and, in the opinion of management, include all adjustments necessary for a fair statement of the interim periods presented. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The results of the interim periods presented are not necessarily indicative of the results expected for the full year. Certain information and notes normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted under the SEC’s rules and regulations. Accordingly, the unaudited condensed consolidated financial statements and notes included herein should be read in conjunction with the Company’s audited consolidated financial statements and the related notes for the year ended December 31, 2022 included in the 2022 Form 10-K.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since inception, the Company has primarily generated negative cash flows from operations and has primarily financed operations from net proceeds from the issuance of convertible preferred stock and common stock. In addition, a number of macroeconomic conditions, including rising inflation and rapidly rising mortgage interest rates, have contributed to a </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">slowdown in the U.S. residential real estate market, which has had an adverse impact on the Company’s business and may continue to adversely impact the Company’s business in the future. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the year ended December 31, 2022 and the six months ended June 30, 2023, the Company enacted various restructuring actions to improve the alignment between the Company’s organizational structure and its long-term business strategy, drive cost efficiencies enabled by the Company’s technology and other competitive advantages and continue to drive toward profitability and positive free cash flow. The Company will continue to assess the impact that changing macroeconomic factors and the slowdown of the U.S. residential real estate market will have on its business and will adjust its operations as necessary.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2023 and December 31, 2022, the Company held cash and cash equivalents of approximately $335.4 million and $361.9 million, respectively. Additionally, the Company has a Revolving Credit Facility, which it can draw upon provided it maintains continued compliance with certain financial and non-financial covenants. In July 2023, the Company repaid the $150.0 million outstanding as of June 30, 2023 under its Revolving Credit Facility. As a result, the Company has in excess of $300.0 million available to be drawn under the Revolving Credit Facility. Further, the Company is in compliance with each of the financial and non-financial covenants. See Note 5 — "Debt" for further details. The Company believes that it will have sufficient liquidity from cash on hand, its Revolving Credit Facility and future operations to sustain its business operations for the next twelve months and beyond.</span></div>
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PaymentOfContingentConsiderationInCashAndIssuanceOfShares
-1200000 usd
CY2022Q2 comp Payment Of Contingent Consideration In Cash And Issuance Of Shares
PaymentOfContingentConsiderationInCashAndIssuanceOfShares
-4000000.0 usd
comp Payment Of Contingent Consideration In Cash And Issuance Of Shares
PaymentOfContingentConsiderationInCashAndIssuanceOfShares
-5800000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenue and expenses during the reporting periods covered by the condensed consolidated financial statements and accompanying notes. These judgments, estimates and assumptions are used for, but not limited to (i) valuation of the Company’s common stock and stock awards, (ii) fair value of acquired intangible assets and goodwill, (iii) fair value of contingent consideration arrangements in connection with business combinations, (iv) incremental borrowing rate used for the Company’s operating leases, (v) useful lives of long-lived assets, (vi) impairment of intangible assets and goodwill, (vii) allowance for Compass Concierge receivables and (viii) income taxes and certain deferred tax assets. The Company determines its estimates and judgments based on historical experience and on various other assumptions that it believes are reasonable under the circumstances. However, actual results could differ from these estimates and these differences may be material.</span></div>
CY2023Q2 comp Business Combination Contingent Consideration Liability Fixed In Value
BusinessCombinationContingentConsiderationLiabilityFixedInValue
3100000 usd
CY2023Q2 comp Business Combinations Contingent Liabilities Undiscounted Maximum Payment
BusinessCombinationsContingentLiabilitiesUndiscountedMaximumPayment
29100000 usd
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
18200000 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
22800000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
14000000.0 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
24400000 usd
CY2023Q2 comp Business Combination Contingent Consideration Acquisitions During The Period
BusinessCombinationContingentConsiderationAcquisitionsDuringThePeriod
0 usd
CY2022Q2 comp Business Combination Contingent Consideration Acquisitions During The Period
BusinessCombinationContingentConsiderationAcquisitionsDuringThePeriod
3600000 usd
comp Business Combination Contingent Consideration Acquisitions During The Period
BusinessCombinationContingentConsiderationAcquisitionsDuringThePeriod
8800000 usd
comp Payment Of Contingent Consideration In Cash And Issuance Of Shares
PaymentOfContingentConsiderationInCashAndIssuanceOfShares
-6000000.0 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
600000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-700000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
600000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-300000 usd
CY2023Q2 comp Business Combination Future Compensation To Be Paid To The Acquirees
BusinessCombinationFutureCompensationToBePaidToTheAcquirees
2000000 usd
CY2023Q2 comp Business Acquisition Compensation Income Future Services
BusinessAcquisitionCompensationIncomeFutureServices
1100000 usd
CY2022Q2 comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
3700000 usd
comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
2000000 usd
comp Business Acquisition Compensation Expense Future Services
BusinessAcquisitionCompensationExpenseFutureServices
11400000 usd
comp Number Of Shares Granted Under Share Based Arrangement
NumberOfSharesGrantedUnderShareBasedArrangement
2600000 shares
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
7300000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
10000000.0 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
10300000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
4000000.0 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
17600000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
14000000.0 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
48000000 usd
CY2023Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
252500000 usd
CY2022Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
136700000 usd
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
13850000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
462987617 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
462987617 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
13850000000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
438098194 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
438098194 shares
CY2023Q1 comp Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAvailableForGrant
21900000 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
39000000.0 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59200000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
83900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
123000000.0 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
223500000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1500000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1400000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-47800000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-101200000 usd
us-gaap Net Income Loss
NetIncomeLoss
-198200000 usd
us-gaap Net Income Loss
NetIncomeLoss
-289200000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
460960349 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
460960349 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
427987083 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
427987083 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
421719718 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
421719718 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
92534187 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
111983608 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
92534187 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
111983608 shares
CY2023Q2 comp Percentage Of Financing Receivables Relating To Unsold Properties
PercentageOfFinancingReceivablesRelatingToUnsoldProperties
0.96
CY2022Q4 comp Percentage Of Financing Receivables Relating To Unsold Properties
PercentageOfFinancingReceivablesRelatingToUnsoldProperties
0.98
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14200000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14700000 usd
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
300000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
500000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
300000 usd
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1000000.0 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14200000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14200000 usd
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
50600000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
17300000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
31300000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
17300000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
31300000 usd
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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