2024 Q2 Form 10-Q Financial Statement

#000089541724000067 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $377.4M $386.6M $367.9M
YoY Change 2.68% 5.09% 2.13%
Cost Of Revenue $193.3M $177.2M $173.4M
YoY Change 1.91% 2.22% 0.81%
Gross Profit $184.1M $207.3M $194.5M
YoY Change 3.5% 6.6% 4.39%
Gross Profit Margin 48.78% 53.62% 52.86%
Selling, General & Admin $22.58M $17.29M $24.89M
YoY Change -22.92% -30.55% 44.62%
% of Gross Profit 12.27% 8.34% 12.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.34M $52.43M $50.50M
YoY Change -2.78% 3.81% 0.53%
% of Gross Profit 27.89% 25.29% 25.97%
Operating Expenses $75.31M $17.29M $75.39M
YoY Change -8.31% -77.07% 338.05%
Operating Profit $108.8M $114.7M $119.1M
YoY Change 13.64% -3.62% -29.58%
Interest Expense -$33.41M -$31.51M -$30.50M
YoY Change 9.0% 3.31% 19.32%
% of Operating Profit -30.71% -27.46% -25.61%
Other Income/Expense, Net $1.387M $1.331M $1.468M
YoY Change 0.43% -9.33% 78.37%
Pretax Income $81.55M $114.7M $85.94M
YoY Change 25.31% 33.53% -1.09%
Income Tax $0.00 -$239.0K $0.00
% Of Pretax Income 0.0% -0.21% 0.0%
Net Earnings $78.30M $115.3M $82.37M
YoY Change 24.44% 39.94% -5.38%
Net Earnings / Revenue 20.75% 29.82% 22.39%
Basic Earnings Per Share $0.42 $0.59 $0.44
Diluted Earnings Per Share $0.40 $0.59 $0.42
COMMON SHARES
Basic Shares Outstanding 186.5M shares 186.5M shares 186.2M shares
Diluted Shares Outstanding 195.5M shares 195.5M shares 195.4M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.66M $15.08M $30.66M
YoY Change 381.41% -50.81% 247.63%
Cash & Equivalents $35.66M $47.28M $30.66M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $35.66M $15.08M $30.66M
YoY Change 381.41% -50.81% 247.63%
LONG-TERM ASSETS
Property, Plant & Equipment $5.261B $5.282B $5.148B
YoY Change 0.8% 2.61% 4.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $86.44M $84.99M $81.14M
YoY Change 4.87% 4.75% 1.82%
Other Assets $54.88M $86.22M $51.09M
YoY Change -24.49% 68.77% -33.79%
Total Long-Term Assets $5.610B $5.615B $5.489B
YoY Change 0.56% 2.3% 4.43%
TOTAL ASSETS
Total Short-Term Assets $35.66M $15.08M $30.66M
Total Long-Term Assets $5.610B $5.615B $5.489B
Total Assets $5.645B $5.630B $5.519B
YoY Change 1.06% 2.01% 4.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $177.8M $143.1M $185.1M
YoY Change 21.83% -22.72% 35.39%
Accrued Expenses $11.98M $40.54M $12.09M
YoY Change -69.45% 235.34% -68.9%
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 $283.2M $276.9M $284.6M
YoY Change 3.87% -2.7% 11.2%
LONG-TERM LIABILITIES
Long-Term Debt $3.471B $3.479B $3.386B
YoY Change 0.59% 2.72% 7.03%
Other Long-Term Liabilities $380.5M $355.0M $335.0M
YoY Change 5.93% 5.97% 6.49%
Total Long-Term Liabilities $3.852B $3.834B $3.721B
YoY Change 1.1% 3.02% 6.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $283.2M $276.9M $284.6M
Total Long-Term Liabilities $3.852B $3.834B $3.721B
Total Liabilities $4.206B $4.110B $4.078B
YoY Change 1.24% 0.81% 9.19%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.648B $1.646B $1.632B
YoY Change 0.48% 0.89% 0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.440B $1.449B $1.442B
YoY Change
Total Liabilities & Shareholders Equity $5.645B $5.630B $5.519B
YoY Change 1.06% 2.01% 4.83%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $78.30M $115.3M $82.37M
YoY Change 24.44% 39.94% -5.38%
Depreciation, Depletion And Amortization $51.34M $52.43M $50.50M
YoY Change -2.78% 3.81% 0.53%
Cash From Operating Activities $143.1M $198.7M $194.5M
YoY Change 97.79% 2.2% 9.66%
INVESTING ACTIVITIES
Capital Expenditures $62.55M $54.71M $105.3M
YoY Change 18.19% -48.03% -206.27%
Acquisitions
YoY Change
Other Investing Activities $9.236M $3.414M $3.330M
YoY Change 641.25% 2.52% -154.3%
Cash From Investing Activities -$53.31M -$51.29M -$101.9M
YoY Change 3.17% -49.68% -3.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -101.4M -$130.1M -$84.22M
YoY Change 336.46% 54.49% -46.5%
NET CHANGE
Cash From Operating Activities 143.1M $198.7M $194.5M
Cash From Investing Activities -53.31M -$51.29M -$101.9M
Cash From Financing Activities -101.4M -$130.1M -$84.22M
Net Change In Cash -11.62M $17.34M $8.314M
YoY Change 355.09% 108.61% -109.75%
FREE CASH FLOW
Cash From Operating Activities $143.1M $198.7M $194.5M
Capital Expenditures $62.55M $54.71M $105.3M
Free Cash Flow $80.58M $144.0M $89.20M
YoY Change 314.48% 61.48% -67.72%

Facts In Submission

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1932000 usd
CY2024Q1 us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
15929000 usd
CY2023Q1 us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
16443000 usd
CY2024Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
158000000 usd
CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
104000000 usd
CY2024Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
133000000 usd
CY2023Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
118000000 usd
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
157000 usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
99000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-130112000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-84219000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17344000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8314000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29937000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22347000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47281000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30661000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
33630000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
31630000 usd
CY2024Q1 els Other Cash And Non Cash Transactions Cash Paid For Assets
OtherCashAndNonCashTransactionsCashPaidForAssets
12927000 usd
CY2023Q1 els Other Cash And Non Cash Transactions Cash Paid For Assets
OtherCashAndNonCashTransactionsCashPaidForAssets
35481000 usd
CY2024Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 usd
CY2023Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
9535000 usd
CY2024Q1 els Noncash Or Part Noncash Acquisition Other Assets Acquired Net
NoncashOrPartNoncashAcquisitionOtherAssetsAcquiredNet
0 usd
CY2023Q1 els Noncash Or Part Noncash Acquisition Other Assets Acquired Net
NoncashOrPartNoncashAcquisitionOtherAssetsAcquiredNet
-14000 usd
CY2024Q1 els Noncash Or Part Noncash Acquisition Rents And Other Customer Payments Received In Advance And Security Deposits
NoncashOrPartNoncashAcquisitionRentsAndOtherCustomerPaymentsReceivedInAdvanceAndSecurityDeposits
0 usd
CY2023Q1 els Noncash Or Part Noncash Acquisition Rents And Other Customer Payments Received In Advance And Security Deposits
NoncashOrPartNoncashAcquisitionRentsAndOtherCustomerPaymentsReceivedInAdvanceAndSecurityDeposits
718000 usd
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
8803000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
25354000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
23690000 usd
CY2024Q1 els Lessor Operating Lease Payment To Be Received Due After Year Four
LessorOperatingLeasePaymentToBeReceivedDueAfterYearFour
50860000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
310193000 usd
CY2024Q1 els Lessee Number Of Non Cancelable Operating Leases
LesseeNumberOfNonCancelableOperatingLeases
10 property
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1500000 usd
CY2024Q1 els Estimated Membership Upgrade Contract Term
EstimatedMembershipUpgradeContractTerm
P20Y
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
32200000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25700000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
79784000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
103593000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
26912000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3752000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4437000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4077000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3819000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3640000 usd
CY2024Q1 els Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
14584000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
34309000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6298000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28011000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25800000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28000000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23600000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25700000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
109905000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
82371000 usd
CY2024Q1 us-gaap Dilutive Securities
DilutiveSecurities
5366000 usd
CY2023Q1 us-gaap Dilutive Securities
DilutiveSecurities
4088000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
115271000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
86459000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186287000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
185900000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9105000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9262000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
153000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
207000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195545000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195369000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.4475
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.4475
CY2023Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.4475
CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.4475
CY2024Q1 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
0 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
25496 shares
CY2024Q1 els Number Of Joint Venture Sites
NumberOfJointVentureSites
3564 site
CY2024Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
84989000 usd
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
85304000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
283000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
524000 usd
CY2024Q1 els Number Of Joint Venture Sites
NumberOfJointVentureSites
2 joint_venture
CY2024Q1 els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
1800000 usd
CY2023Q1 els Proceeds From Equity Investment Distributions Including Those In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsIncludingThoseInExcessOfBasis
1200000 usd
CY2024Q1 els Proceeds From Equity Investment Distributions Amount In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsAmountInExcessOfBasis
600000 usd
CY2023Q1 els Proceeds From Equity Investment Distributions Amount In Excess Of Basis
ProceedsFromEquityInvestmentDistributionsAmountInExcessOfBasis
300000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2500000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Profit Loss
ProfitLoss
115271000 usd
CY2024Q1 us-gaap Assets
Assets
5630234000 usd
CY2024Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
54706000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
86459000 usd
CY2023Q1 us-gaap Assets
Assets
5519313000 usd
CY2023Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
60974000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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