2024 Q3 Form 10-Q Financial Statement

#000198159924000030 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q3
Revenue $720.1M $672.1M $805.8M
YoY Change -10.64% 2.87%
Cost Of Revenue $644.3M $611.6M $715.8M
YoY Change -10.0% 0.04%
Gross Profit $75.79M $60.50M $89.97M
YoY Change -15.76% 44.23%
Gross Profit Margin 10.53% 9.0% 11.17%
Selling, General & Admin $27.21M $20.70M $30.10M
YoY Change -9.59% -12.07%
% of Gross Profit 35.9% 34.21% 33.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.21M $34.39M
YoY Change 10.21%
% of Gross Profit 43.81% 56.83%
Operating Expenses $27.21M $27.36M $30.10M
YoY Change -9.59% 16.23%
Operating Profit $41.92M $33.15M $53.20M
YoY Change -21.21% 182.25%
Interest Expense -$23.93M -$22.63M -$24.53M
YoY Change -2.45% 1.13%
% of Operating Profit -57.08% -68.27% -46.1%
Other Income/Expense, Net $160.0K $707.0K $883.0K
YoY Change -81.88% -203.97%
Pretax Income $18.15M $11.22M $29.56M
YoY Change -38.59% -199.2%
Income Tax $21.77M -$474.0K $11.03M
% Of Pretax Income 119.93% -4.22% 37.32%
Net Earnings -$3.652M $11.69M $17.15M
YoY Change -121.3% -232.15%
Net Earnings / Revenue -0.51% 1.74% 2.13%
Basic Earnings Per Share -$0.04 $0.14 $0.24
Diluted Earnings Per Share -$0.04 $0.14 $0.24
COMMON SHARES
Basic Shares Outstanding 88.52M shares 88.52M shares 71.67M shares
Diluted Shares Outstanding 88.52M shares 84.64M shares 71.67M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.46M $30.92M
YoY Change
Cash & Equivalents $52.46M $30.92M $26.39M
Short-Term Investments
Other Short-Term Assets $40.56M $65.50M
YoY Change
Inventory
Prepaid Expenses
Receivables $541.6M $627.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $634.6M $723.7M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $498.2M $685.3M
YoY Change
Goodwill $374.0M $372.7M
YoY Change
Intangibles $348.6M $355.1M
YoY Change
Long-Term Investments
YoY Change
Other Assets $111.4M $84.86M
YoY Change
Total Long-Term Assets $1.478B $1.498B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $634.6M $723.7M
Total Long-Term Assets $1.478B $1.498B
Total Assets $2.113B $2.222B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $121.3M $116.6M
YoY Change
Accrued Expenses $183.3M $178.0M
YoY Change
Deferred Revenue $21.89M $17.18M
YoY Change
Short-Term Debt $9.508M $9.845M
YoY Change
Long-Term Debt Due $30.26M $41.77M
YoY Change
Total Short-Term Liabilities $386.2M $353.5M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $878.5M $1.030B
YoY Change
Other Long-Term Liabilities $67.89M $169.2M
YoY Change
Total Long-Term Liabilities $946.4M $1.199B
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $386.2M $353.5M
Total Long-Term Liabilities $946.4M $1.199B
Total Liabilities $1.581B $1.691B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$161.0M -$157.3M
YoY Change
Common Stock $885.0K $885.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $527.3M $530.4M $363.5M
YoY Change
Total Liabilities & Shareholders Equity $2.113B $2.222B
YoY Change

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q3
OPERATING ACTIVITIES
Net Income -$3.652M $11.69M $17.15M
YoY Change -121.3% -232.15%
Depreciation, Depletion And Amortization $33.21M $34.39M
YoY Change 10.21%
Cash From Operating Activities $173.6M -$54.20M
YoY Change -204.47%
INVESTING ACTIVITIES
Capital Expenditures $12.94M $22.66M
YoY Change -2.5%
Acquisitions
YoY Change
Other Investing Activities $2.552M $2.626M
YoY Change
Cash From Investing Activities -$10.39M -$20.03M
YoY Change -2.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -141.8M 86.78M
YoY Change -209.36%
NET CHANGE
Cash From Operating Activities 173.6M -54.20M
Cash From Investing Activities -10.39M -20.03M
Cash From Financing Activities -141.8M 86.78M
Net Change In Cash 21.44M 12.56M
YoY Change -126.19%
FREE CASH FLOW
Cash From Operating Activities $173.6M -$54.20M
Capital Expenditures $12.94M $22.66M
Free Cash Flow $160.7M -$76.85M
YoY Change -368.33%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Amortization Of Financing Costs
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Fiscal Period
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<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%">The Company uses a 52/53-week fiscal year that ends on the Sunday closest to the end of the calendar year. Unless otherwise stated, references to months in the Company’s condensed consolidated financial statements relate to fiscal months rather than calendar months. The fiscal six months period ended June 30, 2024 and July 2, 2023 each had 26 weeks, and the second fiscal quarters of 2024 and 2023 each had 13 weeks.</span></div>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84636000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71666000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78147000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71666000 shares
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
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us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
97025000 usd
CY2024Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
3969000 usd
CY2023Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q4 us-gaap Goodwill
Goodwill
375892000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
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CY2024Q2 us-gaap Goodwill
Goodwill
372729000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
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1130053000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1118202000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
596126000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
572760000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
533927000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
545442000 usd
CY2024Q2 us-gaap Accrued Salaries Current
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69005000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
92205000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
56769000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
59751000 usd
CY2024Q2 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
22743000 usd
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
21794000 usd
CY2024Q2 ctri Book Overdrafts Current
BookOverdraftsCurrent
9845000 usd
CY2023Q4 ctri Book Overdrafts Current
BookOverdraftsCurrent
13300000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
158362000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
187050000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1056746000 usd
CY2024Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1053445000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1167958000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1166136000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
31194000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
42552000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
15273000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
17111000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1010279000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1108295000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1300000 usd
CY2024Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1300000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2600000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2500000 usd
CY2024Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1100000000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1200000000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
16276000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
29554000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
172248000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7293000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
831375000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1056746000 usd
CY2024Q2 ctri Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2024Q2 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P14Y
ctri Lessee Lease Termination Period
LesseeLeaseTerminationPeriod
P1Y
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6618000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
5285000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
13249000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2172000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2081000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4284000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3673000 usd
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
340000 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
430000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
705000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
878000 usd
CY2024Q2 ctri Finance Lease Cost
FinanceLeaseCost
2512000 usd
CY2023Q3 ctri Finance Lease Cost
FinanceLeaseCost
2511000 usd
ctri Finance Lease Cost
FinanceLeaseCost
4989000 usd
ctri Finance Lease Cost
FinanceLeaseCost
4551000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
25030000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
31151000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
46290000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
59588000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
34160000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
38947000 usd
us-gaap Lease Cost
LeaseCost
64528000 usd
us-gaap Lease Cost
LeaseCost
74196000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
13098000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
9133000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
705000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
878000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
5771000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6074000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6321000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
33634000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
124000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1394000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y5M12D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M21D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M20D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0502
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0488
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0414
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0402
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13133000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
6174000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23093000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
10259000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20598000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
7672000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
18963000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
5782000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16529000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1778000 usd
CY2024Q2 ctri Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
48756000 usd
CY2024Q2 ctri Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
747000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
141072000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
32412000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22160000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2423000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
118912000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
29989000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.042
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.373
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.611
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.374
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4388000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6922000 usd
ctri Assets Sold Cash Not Yet Received
AssetsSoldCashNotYetReceived
317000 usd
ctri Assets Sold Cash Not Yet Received
AssetsSoldCashNotYetReceived
921000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2400000 usd
CY2023Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0 usd
CY2024Q2 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
800000 usd
CY2024Q2 ctri Number Of Financial Banking Institutions
NumberOfFinancialBankingInstitutions
3 banking_institution
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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