2021 Q4 Form 10-K Financial Statement

#000079005122000061 Filed on February 17, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $1.376B $4.810B $1.064B
YoY Change 29.31% 21.17% -7.01%
Cost Of Revenue $982.9M $3.496B $768.5M
YoY Change 27.9% 23.41% -8.03%
Gross Profit $393.1M $1.315B $295.6M
YoY Change 32.98% 15.59% -4.24%
Gross Profit Margin 28.57% 27.33% 27.78%
Selling, General & Admin $193.3M $698.2M $161.5M
YoY Change 19.69% 15.75% 3.79%
% of Gross Profit 49.17% 53.11% 54.63%
Research & Development $12.90M $49.90M $12.50M
YoY Change 3.2% 9.91% -21.38%
% of Gross Profit 3.28% 3.8% 4.23%
Depreciation & Amortization $61.50M $226.2M $55.20M
YoY Change 11.41% 0.89% 2.41%
% of Gross Profit 15.64% 17.21% 18.67%
Operating Expenses $204.6M $748.1M $177.9M
YoY Change 15.01% 15.34% 6.27%
Operating Profit $188.5M $567.5M $117.7M
YoY Change 60.15% 16.34% -16.7%
Interest Expense -$22.00M -$79.10M -$18.10M
YoY Change 21.55% 10.17% 22.3%
% of Operating Profit -11.67% -13.94% -15.38%
Other Income/Expense, Net -$300.0K -$5.900M -$2.000M
YoY Change -85.0% 103.45% -31.03%
Pretax Income $160.2M $482.5M $91.70M
YoY Change 74.7% 19.37% -25.81%
Income Tax $29.40M $95.50M $7.000M
% Of Pretax Income 18.35% 19.79% 7.63%
Net Earnings $128.1M $421.7M $80.60M
YoY Change 58.93% 31.74% -21.44%
Net Earnings / Revenue 9.31% 8.77% 7.57%
Basic Earnings Per Share $8.01
Diluted Earnings Per Share $2.408M $7.91 $1.498M
COMMON SHARES
Basic Shares Outstanding 52.28M shares 52.50M shares 53.38M shares
Diluted Shares Outstanding 53.20M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $324.4M $324.4M $902.2M
YoY Change -64.04% -64.04% 156.89%
Cash & Equivalents $324.4M $324.4M $897.1M
Short-Term Investments
Other Short-Term Assets $284.8M $334.7M $60.20M
YoY Change 373.09% 214.57% -15.45%
Inventory $605.1M $605.1M $432.7M
Prepaid Expenses $49.90M $35.80M
Receivables $814.6M $886.7M $554.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.151B $2.151B $2.209B
YoY Change -2.64% -2.64% 26.1%
LONG-TERM ASSETS
Property, Plant & Equipment $759.9M $841.3M $672.1M
YoY Change 13.06% -0.39% -0.62%
Goodwill $2.199B $1.642B
YoY Change 33.95% 1.35%
Intangibles $2.009B $960.9M
YoY Change 109.04% -9.38%
Long-Term Investments
YoY Change
Other Assets $128.3M $46.90M $107.4M
YoY Change 19.46% 18.73% 7.19%
Total Long-Term Assets $5.096B $5.096B $3.657B
YoY Change 39.34% 39.34% -2.32%
TOTAL ASSETS
Total Short-Term Assets $2.151B $2.151B $2.209B
Total Long-Term Assets $5.096B $5.096B $3.657B
Total Assets $7.247B $7.247B $5.866B
YoY Change 23.53% 23.53% 6.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $432.4M $432.4M $284.5M
YoY Change 51.99% 36.15% -4.11%
Accrued Expenses $351.2M $331.8M $274.6M
YoY Change 27.9% 18.42% -2.1%
Deferred Revenue $33.90M $32.50M
YoY Change 4.31% 20.37%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $352.0M $352.0M $1.100M
YoY Change 31900.0% 31900.0% -99.56%
Total Short-Term Liabilities $1.170B $1.170B $646.2M
YoY Change 80.98% 80.98% -28.12%
LONG-TERM LIABILITIES
Long-Term Debt $2.575B $2.575B $2.080B
YoY Change 23.81% 23.81% 55.08%
Other Long-Term Liabilities $622.4M $438.6M $344.6M
YoY Change 80.62% 10.87% -6.26%
Total Long-Term Liabilities $3.448B $3.014B $2.683B
YoY Change 28.53% 21.74% 37.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.170B $1.170B $646.2M
Total Long-Term Liabilities $3.448B $3.014B $2.683B
Total Liabilities $4.617B $4.617B $3.329B
YoY Change 38.71% 38.71% 16.67%
SHAREHOLDERS EQUITY
Retained Earnings $4.238B $3.929B
YoY Change 7.87% 5.57%
Common Stock $560.2M $520.4M
YoY Change 7.65% 5.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.063B $1.814B
YoY Change 13.71% 25.16%
Treasury Stock Shares 26.40M shares 25.50M shares
Shareholders Equity $2.630B $2.630B $2.538B
YoY Change
Total Liabilities & Shareholders Equity $7.247B $7.247B $5.866B
YoY Change 23.53% 23.53% 6.74%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $128.1M $421.7M $80.60M
YoY Change 58.93% 31.74% -21.44%
Depreciation, Depletion And Amortization $61.50M $226.2M $55.20M
YoY Change 11.41% 0.89% 2.41%
Cash From Operating Activities $137.8M $421.7M $256.5M
YoY Change -46.28% -39.47% 20.08%
INVESTING ACTIVITIES
Capital Expenditures -$45.90M $134.8M -$22.80M
YoY Change 101.32% 41.15% -29.41%
Acquisitions $1.571B
YoY Change 4338.7%
Other Investing Activities -$17.30M -$2.200M $6.900M
YoY Change -350.72% -73.49% -102.15%
Cash From Investing Activities -$63.20M -$1.486B -$15.90M
YoY Change 297.48% 1112.4% -95.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $315.6M
YoY Change -17.47%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -45.80M $488.1M -61.40M
YoY Change -25.41% -2076.11% -63.78%
NET CHANGE
Cash From Operating Activities 137.8M $421.7M 256.5M
Cash From Investing Activities -63.20M -$1.486B -15.90M
Cash From Financing Activities -45.80M $488.1M -61.40M
Net Change In Cash 28.80M -$577.8M 179.2M
YoY Change -83.93% -204.86% -158.05%
FREE CASH FLOW
Cash From Operating Activities $137.8M $421.7M $256.5M
Capital Expenditures -$45.90M $134.8M -$22.80M
Free Cash Flow $183.7M $286.9M $279.3M
YoY Change -34.23% -52.28% 13.58%

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<span style="color:#003591;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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1181800000 USD
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4700000 USD
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17900000 USD
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18300000 USD
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3400000 USD
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457800000 USD
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385900000 USD
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324600000 USD
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54500000 shares
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56900000 shares
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200000 shares
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300000 shares
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200000 shares
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500000 shares
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200000 shares
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400000 shares
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53200000 shares
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52500000 shares
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54500000 shares
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52600000 shares
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54700000 shares
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57100000 shares
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0.997
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34600000 USD
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15000000.0 USD
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300000 shares
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14300000 USD
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38500000 USD
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27900000 USD
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P1Y6M
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300000 USD
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2500000 USD
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CY2021Q4 us-gaap Restructuring Reserve
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353300000 USD
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404200000 USD
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575100000 USD
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50900000 USD
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87800000 USD
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482500000 USD
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127100000 USD
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13500000 USD
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22800000 USD
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9900000 USD
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74700000 USD
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104600000 USD
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126200000 USD
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 csl Effective Income Tax Rate Reconciliation Changein Unrecognized Tax Benefit
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CY2021 csl Effective Income Tax Rate Reconciliation Return To Provision Adjustments
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CY2019 csl Effective Income Tax Rate Reconciliation Return To Provision Adjustments
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CY2021 us-gaap Income Tax Reconciliation Tax Credits
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CY2021 us-gaap Income Tax Reconciliation Other Adjustments
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CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2021 csl Unrecognized Tax Benefits Increase Decrease Resulting From Prior Period Tax Positions
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CY2020 csl Unrecognized Tax Benefits Increase Decrease Resulting From Prior Period Tax Positions
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CY2019 csl Unrecognized Tax Benefits Increase Decrease Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Goodwill
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CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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CY2021Q4 us-gaap Standard Product Warranty Accrual
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CY2020Q4 us-gaap Standard Product Warranty Accrual
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CY2020 us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2020 us-gaap Standard Product Warranty Accrual Payments
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CY2020Q4 us-gaap Standard Product Warranty Accrual
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CY2021Q4 csl Debt Instrument Unamortized Discount And Debt Issuance Costs
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CY2020Q4 csl Debt Instrument Unamortized Discount And Debt Issuance Costs
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CY2021Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Long Term Debt
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CY2019 us-gaap Interest Paid Net
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CY2020 csl Defined Benefit Plan Mandatory Minimum Employer Contributions
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CY2021 csl Defined Benefit Plan Mandatory Minimum Employer Contributions
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16900000 USD
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CY2021 csl Employee Stock Ownership Plan Esop Plan Maximum Percentage Of Employee Compensation Match By Employer
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900000 shares
CY2021 csl Deferred Compensation Arrangement Employer Matching Contribution Percentof Match
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CY2021 us-gaap Deferred Compensation Arrangement With Individual Maximum Contractual Term1
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1500000 USD
CY2020Q4 csl Estimated Insurance Recoveries Current
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4900000 USD
CY2021Q4 us-gaap Estimated Insurance Recoveries
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18800000 USD
CY2020Q4 us-gaap Workers Compensation Liability Current And Noncurrent
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CY2020Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
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26300000 USD
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61400000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Noncurrent
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35700000 USD
CY2021Q4 us-gaap Other Liabilities Noncurrent
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622400000 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
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344600000 USD
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26300000 USD
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26800000 USD
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19300000 USD
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14800000 USD
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10900000 USD
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6900000 USD
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20000000.0 USD
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97800000 USD
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9400000 USD
CY2021Q4 us-gaap Operating Lease Liability
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88400000 USD
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P5Y8M12D
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P5Y10M24D
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23800000 USD
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27100000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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39000000.0 USD
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17200000 USD
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1900000 USD
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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30300000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0 USD

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