2021 Q2 Form 10-Q Financial Statement

#000089541721000054 Filed on July 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $330.1M $254.1M
YoY Change 29.92% 2.3%
Cost Of Revenue $168.9M $125.6M
YoY Change 34.48% 2.53%
Gross Profit $160.0M $127.5M
YoY Change 25.47% 2.0%
Gross Profit Margin 48.46% 50.18%
Selling, General & Admin $16.53M $14.89M
YoY Change 11.02% 10.76%
% of Gross Profit 10.33% 11.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.09M $39.00M
YoY Change 25.87% 2.09%
% of Gross Profit 30.69% 30.59%
Operating Expenses $16.53M $14.89M
YoY Change 11.02% 10.76%
Operating Profit $143.4M $112.6M
YoY Change 27.38% 0.94%
Interest Expense -$25.91M -$25.20M
YoY Change 2.81% 0.4%
% of Operating Profit -18.06% -22.38%
Other Income/Expense, Net $800.0K $639.0K
YoY Change 25.2% 18.33%
Pretax Income $63.01M $47.79M
YoY Change 31.85% 4.21%
Income Tax
% Of Pretax Income
Net Earnings $64.08M $48.85M
YoY Change 31.17% -0.47%
Net Earnings / Revenue 19.41% 19.23%
Basic Earnings Per Share $0.33 $0.25
Diluted Earnings Per Share $0.33 $0.25
COMMON SHARES
Basic Shares Outstanding 182.3M shares 181.8M shares
Diluted Shares Outstanding 192.7M shares 192.5M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.55M $94.20M
YoY Change -85.61% 49.52%
Cash & Equivalents $44.75M $120.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $13.55M $94.20M
YoY Change -85.61% 49.52%
LONG-TERM ASSETS
Property, Plant & Equipment $4.616B $3.996B
YoY Change 15.52% 6.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.50M $19.90M
YoY Change 2.99% -63.95%
Other Assets $76.49M $67.40M
YoY Change 13.48% -1.17%
Total Long-Term Assets $4.810B $4.174B
YoY Change 15.25% 5.63%
TOTAL ASSETS
Total Short-Term Assets $13.55M $94.20M
Total Long-Term Assets $4.810B $4.174B
Total Assets $4.824B $4.268B
YoY Change 13.02% 6.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $137.3M $123.8M
YoY Change 10.93% 12.75%
Accrued Expenses $35.75M $27.00M
YoY Change 32.42% 7.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $243.1M $216.8M
YoY Change 12.13% 11.75%
LONG-TERM LIABILITIES
Long-Term Debt $2.980B $2.497B
YoY Change 19.36% 9.78%
Other Long-Term Liabilities $298.5M $247.2M
YoY Change 20.77% 3.6%
Total Long-Term Liabilities $3.279B $2.744B
YoY Change 19.49% 9.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $243.1M $216.8M
Total Long-Term Liabilities $3.279B $2.744B
Total Liabilities $3.522B $2.961B
YoY Change 18.96% 9.38%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.426B $1.408B
YoY Change 1.32% 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.240B $1.237B
YoY Change
Total Liabilities & Shareholders Equity $4.824B $4.268B
YoY Change 13.02% 6.32%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $64.08M $48.85M
YoY Change 31.17% -0.47%
Depreciation, Depletion And Amortization $49.09M $39.00M
YoY Change 25.87% 2.09%
Cash From Operating Activities $155.6M $107.8M
YoY Change 44.37% -7.55%
INVESTING ACTIVITIES
Capital Expenditures -$123.9M -$56.90M
YoY Change 117.8% -39.72%
Acquisitions
YoY Change
Other Investing Activities $417.0K $1.200M
YoY Change -65.25% -77.78%
Cash From Investing Activities -$123.5M -$55.60M
YoY Change 122.14% -37.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.82M -29.10M
YoY Change 170.87% -64.21%
NET CHANGE
Cash From Operating Activities 155.6M 107.8M
Cash From Investing Activities -123.5M -55.60M
Cash From Financing Activities -78.82M -29.10M
Net Change In Cash -46.71M 23.10M
YoY Change -302.19% -143.02%
FREE CASH FLOW
Cash From Operating Activities $155.6M $107.8M
Capital Expenditures -$123.9M -$56.90M
Free Cash Flow $279.6M $164.7M
YoY Change 69.74% -21.94%

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8000 USD
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8000 USD
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8000 USD
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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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2556000 USD
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129000 USD
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2821000 USD
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110000 USD
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2964000 USD
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2669000 USD
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552000 USD
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us-gaap Profit Loss
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119577000 USD
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us-gaap Extinguishment Of Debt Amount
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us-gaap Extinguishment Of Debt Amount
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1054000 USD
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95188000 USD
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us-gaap Amortization Of Financing Costs
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2346000 USD
us-gaap Amortization Of Financing Costs
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1777000 USD
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1936000 USD
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41000 USD
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81000 USD
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us-gaap Proceeds From Insurance Settlement Operating Activities
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Contract With Customer Liability Revenue Recognized
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4683000 USD
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1903000 USD
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1866000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
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2250000 USD
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4719000 USD
us-gaap Increase Decrease In Contract With Customer Asset
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2338000 USD
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1857000 USD
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33112000 USD
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15918000 USD
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27376000 USD
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11067000 USD
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328926000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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238745000 USD
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us-gaap Payments To Acquire Interest In Joint Venture
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1617000 USD
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103147000 USD
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1337000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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1150000 USD
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us-gaap Payments Of Dividends Common Stock
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7385000 USD
us-gaap Payments Of Dividends Minority Interest
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6803000 USD
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8000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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8000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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2814000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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3962000 USD
us-gaap Repayments Of First Mortgage Bond
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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157500000 USD
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162500000 USD
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us-gaap Payments Of Debt Issuance Costs
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3819000 USD
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171000 USD
us-gaap Payments Of Stock Issuance Costs
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286000 USD
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166978000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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91133000 USD
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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44753000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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51354000 USD
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33793000 USD
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17336000 USD
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33793000 USD
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17336000 USD
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4235000 USD
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2815000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
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10940000 USD
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179000 USD
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356605000 USD
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4056000 USD
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P20Y
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44065000 USD
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22166000 USD
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CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received
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us-gaap Operating Lease Payments
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4800000 USD
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3176000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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4577000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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3308000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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2958000 USD
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CY2021Q2 els Lessee Operating Lease Liability Payments Due After Year Four
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
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32579000 USD
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5569000 USD
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27010000 USD
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23700000 USD
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15700000 USD
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P8Y
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61051000 USD
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46187000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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126291000 USD
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113062000 USD
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CY2020Q2 us-gaap Dilutive Securities
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us-gaap Dilutive Securities
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us-gaap Dilutive Securities
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6507000 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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64072000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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48845000 USD
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133059000 USD
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NetIncomeLossAvailableToCommonStockholdersDiluted
119569000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
182337000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
181833000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
182142000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
181781000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10153000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10482000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10312000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10486000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
227000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
214000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
271000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192701000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192542000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192668000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192538000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3425
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3425
CY2020Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3425
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3425
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3625
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
1386716 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
9228 shares
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
262000000.0 USD
CY2021Q2 els Number Of Joint Venture Sites
NumberOfJointVentureSites
3599 site
CY2021Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
20496000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
19726000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1936000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1271000 USD
CY2021Q2 els Number Of Joint Venture Sites
NumberOfJointVentureSites
2 joint_venture_site
CY2021Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.65
els Proceedsfrom Equity Investment Distributionsamountinexcessofbasis
ProceedsfromEquityInvestmentDistributionsamountinexcessofbasis
1700000 USD
els Proceedsfrom Equity Investment Distributionsamountinexcessofbasis
ProceedsfromEquityInvestmentDistributionsamountinexcessofbasis
1500000 USD
els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
1500000 USD
els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
1000000.0 USD
CY2021Q2 els Number Of Pledged Properties
NumberOfPledgedProperties
117 property
CY2020Q4 els Number Of Pledged Properties
NumberOfPledgedProperties
116 property
CY2021Q2 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
2698200000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
2580900000 USD
CY2017Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
500000000.0 USD
CY2021Q2 els Debt Instrument Numberof Extension Periods
DebtInstrumentNumberofExtensionPeriods
2 extension
CY2021Q2 els Debt Instrument Extension Term
DebtInstrumentExtensionTerm
P6M
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
800000 USD
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
16185 shares
CY2021Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
68.74
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2021Q2 us-gaap Profit Loss
ProfitLoss
64080000 USD
CY2021Q2 us-gaap Assets
Assets
4824007000 USD
CY2021Q2 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
62945000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
48853000 USD
CY2020Q2 us-gaap Assets
Assets
4268174000 USD
CY2020Q2 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
54188000 USD
us-gaap Profit Loss
ProfitLoss
133067000 USD
CY2021Q2 us-gaap Assets
Assets
4824007000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
119723000 USD
us-gaap Profit Loss
ProfitLoss
119577000 USD
CY2020Q2 us-gaap Assets
Assets
4268174000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
103147000 USD

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