2021 Q4 Form 10-Q Financial Statement

#000089541721000065 Filed on October 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $324.2M $332.9M $285.0M
YoY Change 19.62% 16.81% 5.1%
Cost Of Revenue $163.6M $170.4M $142.9M
YoY Change 27.09% 19.27% 10.78%
Gross Profit $160.6M $161.2M $140.6M
YoY Change 12.94% 14.67% 3.99%
Gross Profit Margin 49.54% 48.43% 49.34%
Selling, General & Admin $15.75M $16.91M $14.75M
YoY Change 16.67% 14.7% 15.45%
% of Gross Profit 9.81% 10.49% 10.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.10M $45.15M $39.30M
YoY Change 28.06% 14.88% 4.52%
% of Gross Profit 31.81% 28.0% 27.95%
Operating Expenses $66.07M $16.91M $14.75M
YoY Change 25.13% 14.7% 15.45%
Operating Profit $94.54M $144.3M $125.9M
YoY Change 5.75% 14.67% 2.8%
Interest Expense -$26.79M -$26.12M -$23.80M
YoY Change 10.26% 9.76% 28.65%
% of Operating Profit -28.34% -18.1% -18.91%
Other Income/Expense, Net $797.0K $658.0K
YoY Change 21.12% -54.93%
Pretax Income $67.75M $73.24M $52.50M
YoY Change 3.9% 39.51% -18.8%
Income Tax
% Of Pretax Income
Net Earnings $65.55M $74.09M $53.47M
YoY Change 1.32% 38.57% -21.57%
Net Earnings / Revenue 20.22% 22.26% 18.76%
Basic Earnings Per Share $0.38 $0.28
Diluted Earnings Per Share $338.8K $0.38 $0.28
COMMON SHARES
Basic Shares Outstanding 183.8M shares 183.5M shares 181.9M shares
Diluted Shares Outstanding 192.7M shares 192.5M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.10M $8.572M $88.30M
YoY Change -90.29% 623.77%
Cash & Equivalents $123.4M $40.27M $114.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $94.10M $8.572M $88.30M
YoY Change -90.29% 623.77%
LONG-TERM ASSETS
Property, Plant & Equipment $4.916B $4.762B $4.001B
YoY Change 15.62% 19.02% 1.18%
Goodwill $17.40M
YoY Change 123.08%
Intangibles $38.00M
YoY Change 708.51%
Long-Term Investments $70.31M $20.63M $19.90M
YoY Change 256.91% 3.68% -1.97%
Other Assets $76.65M $78.45M $68.10M
YoY Change 15.09% 15.2% -4.35%
Total Long-Term Assets $5.214B $4.973B $4.172B
YoY Change 19.2% 1.14%
TOTAL ASSETS
Total Short-Term Assets $94.10M $8.572M $88.30M
Total Long-Term Assets $5.214B $4.973B $4.172B
Total Assets $5.308B $4.982B $4.260B
YoY Change 20.12% 16.93% 2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.6M $160.6M $132.9M
YoY Change 24.96% 20.81% 4.73%
Accrued Expenses $39.99M $34.58M $23.20M
YoY Change 61.91% 49.05% -9.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $252.3M $265.1M $222.1M
YoY Change 23.7% 19.38% 5.01%
LONG-TERM LIABILITIES
Long-Term Debt $3.274B $3.124B $2.501B
YoY Change 22.77% 24.93% 5.01%
Other Long-Term Liabilities $295.1M $283.2M $238.4M
YoY Change 21.3% 18.79% 6.14%
Total Long-Term Liabilities $3.569B $3.407B $2.739B
YoY Change 22.65% 24.4% 5.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.3M $265.1M $222.1M
Total Long-Term Liabilities $3.569B $3.407B $2.739B
Total Liabilities $3.822B $3.673B $2.961B
YoY Change 22.72% 24.02% 5.1%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.595B $1.429B $1.410B
YoY Change 12.88% 1.37% 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.415B $1.248B $1.228B
YoY Change
Total Liabilities & Shareholders Equity $5.308B $4.982B $4.260B
YoY Change 20.12% 16.93% 2.97%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $65.55M $74.09M $53.47M
YoY Change 1.32% 38.57% -21.57%
Depreciation, Depletion And Amortization $51.10M $45.15M $39.30M
YoY Change 28.06% 14.88% 4.52%
Cash From Operating Activities $141.4M $124.7M $122.2M
YoY Change 33.94% 2.03% 16.83%
INVESTING ACTIVITIES
Capital Expenditures -$146.4M -$205.5M -$56.70M
YoY Change -49.91% 262.42% -72.5%
Acquisitions
YoY Change
Other Investing Activities -$90.14M $2.751M $1.000M
YoY Change -2751.09% 175.1% -80.77%
Cash From Investing Activities -$236.5M -$202.7M -$55.70M
YoY Change -18.14% 263.99% -72.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 178.2M 73.58M -72.20M
YoY Change 91.59% -201.91% -249.48%
NET CHANGE
Cash From Operating Activities 141.4M 124.7M 122.2M
Cash From Investing Activities -236.5M -202.7M -55.70M
Cash From Financing Activities 178.2M 73.58M -72.20M
Net Change In Cash 83.13M -4.481M -5.700M
YoY Change -192.06% -21.39% -88.15%
FREE CASH FLOW
Cash From Operating Activities $141.4M $124.7M $122.2M
Capital Expenditures -$146.4M -$205.5M -$56.70M
Free Cash Flow $287.8M $330.2M $178.9M
YoY Change -27.65% 84.56% -42.44%

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28774000 USD
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55355000 USD
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P20Y
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LessorOperatingLeasePaymentsToBeReceivedTwoYears
129603000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
60749000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
22777000 USD
CY2021Q3 els Lessor Operating Lease Payment To Be Received Due After Year Four
LessorOperatingLeasePaymentToBeReceivedDueAfterYearFour
66775000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
505171000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
25672000 USD
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23700000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
8000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
7300000 USD
CY2021Q3 els Lessee Number Of Non Cancelable Operating Leases
LesseeNumberOfNonCancelableOperatingLeases
14 lease
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
2900000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
2500000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1585000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4577000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3308000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2958000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2661000 USD
CY2021Q3 els Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
15899000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
30988000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5316000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
25700000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15700000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16400000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
70625000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
50560000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
196916000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
163622000 USD
CY2021Q3 us-gaap Dilutive Securities
DilutiveSecurities
3468000 USD
CY2020Q3 us-gaap Dilutive Securities
DilutiveSecurities
2908000 USD
us-gaap Dilutive Securities
DilutiveSecurities
10236000 USD
us-gaap Dilutive Securities
DilutiveSecurities
9415000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
74093000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
53468000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
207152000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
173037000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
183469000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
181869000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
182590000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
181811000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9056000 shares
CY2020Q3 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
9888000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
10485000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
186000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
252000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192736000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192537000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192689000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
192548000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.90
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.90
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
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.3625
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
1451710 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
9228 shares
CY2021Q3 us-gaap Area Of Land
AreaOfLand
40 acre
CY2021Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
10400000 USD
CY2021Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
110800000 USD
CY2021Q3 els Number Of Joint Venture Sites
NumberOfJointVentureSites
3599 site
CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
20632000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
19726000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2786000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2239000 USD
CY2021Q3 els Number Of Joint Venture Sites
NumberOfJointVentureSites
2 joint_venture_site
CY2021Q3 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.65
els Proceeds From Equity Investment Distributions Amount In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsAmountInExcessOfBasis
2400000 USD
els Proceeds From Equity Investment Distributions Amount In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsAmountInExcessOfBasis
2400000 USD
els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
2200000 USD
els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
1800000 USD
CY2021Q3 els Number Of Pledged Properties
NumberOfPledgedProperties
117 property
CY2020Q4 els Number Of Pledged Properties
NumberOfPledgedProperties
116 property
CY2021Q3 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
2726000000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
2580900000 USD
CY2020Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0247
CY2017Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
500000000 USD
CY2021Q2 els Debt Instrument Number Of Extension Periods
DebtInstrumentNumberOfExtensionPeriods
2 extension
CY2021Q2 els Debt Instrument Extension Term
DebtInstrumentExtensionTerm
P6M
els Early Termination Fee Of Senior Debt
EarlyTerminationFeeOfSeniorDebt
900000 USD
CY2021Q3 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
CY2021Q3 us-gaap Profit Loss
ProfitLoss
74093000 USD
CY2021Q3 us-gaap Assets
Assets
4981860000 USD
CY2021Q3 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
84315000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
53468000 USD
CY2020Q3 us-gaap Assets
Assets
4260413000 USD
CY2020Q3 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
51914000 USD
us-gaap Profit Loss
ProfitLoss
207160000 USD
CY2021Q3 us-gaap Assets
Assets
4981860000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
204037000 USD
us-gaap Profit Loss
ProfitLoss
173045000 USD
CY2020Q3 us-gaap Assets
Assets
4260413000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
155061000 USD

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