2020 Q4 Form 10-Q Financial Statement

#000003456321000010 Filed on February 05, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4
Revenue $104.6M $152.5M
YoY Change -31.43% -4.55%
Cost Of Revenue $78.32M $108.5M
YoY Change -27.82% 1.86%
Gross Profit $26.25M $43.99M
YoY Change -40.32% -17.39%
Gross Profit Margin 25.1% 28.84%
Selling, General & Admin $36.34M $46.17M
YoY Change -21.3% -10.75%
% of Gross Profit 138.43% 104.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.310M $7.590M
YoY Change -3.69% -3.92%
% of Gross Profit 27.85% 17.26%
Operating Expenses $36.41M $35.12M
YoY Change 3.7% -33.42%
Operating Profit -$10.16M $8.870M
YoY Change -214.59% 1666.93%
Interest Expense $2.938M $2.859M
YoY Change 2.76% -14.2%
% of Operating Profit 32.23%
Other Income/Expense, Net $6.142M -$1.197M
YoY Change -613.12% -91.02%
Pretax Income -$4.022M $7.673M
YoY Change -152.42% -159.83%
Income Tax $13.70M -$81.00K
% Of Pretax Income -1.06%
Net Earnings -$17.73M $7.754M
YoY Change -328.59% -176.77%
Net Earnings / Revenue -16.95% 5.08%
Basic Earnings Per Share -$1.02 $0.44
Diluted Earnings Per Share -$1.02 $0.43
COMMON SHARES
Basic Shares Outstanding 17.53M shares 17.16M shares
Diluted Shares Outstanding 17.53M shares 17.58M shares

Balance Sheet

Concept 2020 Q4 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.900M $9.100M
YoY Change -35.16% -31.58%
Cash & Equivalents $5.857M $9.130M
Short-Term Investments
Other Short-Term Assets $12.10M $14.90M
YoY Change -18.79% 104.11%
Inventory $80.62M $85.13M
Prepaid Expenses $8.303M $5.820M
Receivables $39.70M $57.10M
Other Receivables $2.200M $4.900M
Total Short-Term Assets $140.4M $171.2M
YoY Change -17.97% -20.75%
LONG-TERM ASSETS
Property, Plant & Equipment $159.9M $172.0M
YoY Change -7.05% -11.18%
Goodwill $0.00 $36.20M
YoY Change -100.0% 0.0%
Intangibles $19.46M $27.67M
YoY Change -29.69% -8.3%
Long-Term Investments
YoY Change
Other Assets $8.700M $9.520M
YoY Change -8.61% 9.39%
Total Long-Term Assets $215.7M $265.5M
YoY Change -18.78% -14.91%
TOTAL ASSETS
Total Short-Term Assets $140.4M $171.2M
Total Long-Term Assets $215.7M $265.5M
Total Assets $356.1M $436.7M
YoY Change -18.46% -17.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.80M $59.83M
YoY Change -16.77% -23.42%
Accrued Expenses $24.80M $24.70M
YoY Change 0.4% 25.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $81.51M $89.77M
YoY Change -9.2% -16.92%
LONG-TERM LIABILITIES
Long-Term Debt $82.00M $70.00M
YoY Change 17.14% -46.15%
Other Long-Term Liabilities $5.254M $3.147M
YoY Change 66.95% 287.08%
Total Long-Term Liabilities $5.254M $3.147M
YoY Change 66.95% 287.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.51M $89.77M
Total Long-Term Liabilities $5.254M $3.147M
Total Liabilities $259.9M $250.5M
YoY Change 3.73% -19.11%
SHAREHOLDERS EQUITY
Retained Earnings $84.26M $158.3M
YoY Change -46.78% -23.51%
Common Stock $17.59M $17.18M
YoY Change 2.39% 1.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $96.19M $186.2M
YoY Change
Total Liabilities & Shareholders Equity $356.1M $436.7M
YoY Change -18.46% -17.3%

Cashflow Statement

Concept 2020 Q4 2019 Q4
OPERATING ACTIVITIES
Net Income -$17.73M $7.754M
YoY Change -328.59% -176.77%
Depreciation, Depletion And Amortization $7.310M $7.590M
YoY Change -3.69% -3.92%
Cash From Operating Activities -$12.81M $1.690M
YoY Change -857.99% -125.11%
INVESTING ACTIVITIES
Capital Expenditures -$5.270M -$3.730M
YoY Change 41.29% -75.76%
Acquisitions
YoY Change
Other Investing Activities $1.700M $18.63M
YoY Change -90.87% 30950.0%
Cash From Investing Activities -$3.570M $14.90M
YoY Change -123.96% -197.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.21M -14.89M
YoY Change -175.29% -154.6%
NET CHANGE
Cash From Operating Activities -12.81M 1.690M
Cash From Investing Activities -3.570M 14.90M
Cash From Financing Activities 11.21M -14.89M
Net Change In Cash -5.170M 1.700M
YoY Change -404.12% -67.31%
FREE CASH FLOW
Cash From Operating Activities -$12.81M $1.690M
Capital Expenditures -$5.270M -$3.730M
Free Cash Flow -$7.540M $5.420M
YoY Change -239.11% -37.41%

Facts In Submission

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dei Current Fiscal Year End Date
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farm Debt Instrument Covenant Fixed Charge Coverage Ratio Required Minimum
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CY2019Q4 farm Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipProgramRequisiteServicePeriodRecognition
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CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Dividends Preferred Stock Cash
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us-gaap Dividends Preferred Stock Cash
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us-gaap Use Of Estimates
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<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Principles of Consolidation</span></div><div style="margin-bottom:12pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated financial statements include the accounts of the Company and its direct and indirect wholly owned subsidiaries FBC Finance Company, a California corporation, Coffee Bean Holding Co., Inc., a Delaware corporation, the parent company of Coffee Bean International, Inc., an Oregon corporation (“CBI”), China Mist Brands, Inc., a Delaware corporation, Boyd Assets Co., a Delaware corporation, and Coffee Bean International LLC, a Delaware limited liability company. All inter-company balances and transactions have been eliminated. </span></div><div style="margin-bottom:6pt;margin-top:12pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company reviews its estimates on an ongoing basis using currently available information. Changes in facts and circumstances may result in revised estimates and actual results may differ from those estimates.</span></div>
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us-gaap Operating Lease Cost
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q4 farm Derivative Instruments Percentage Designated As Cash Flow Hedges
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CY2020Q2 farm Derivative Instruments Percentage Designated As Cash Flow Hedges
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FiniteLivedIntangibleAssetsNet
19457000 USD
CY2020Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
44991000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18523000 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
5806000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20662000 USD
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1200000 USD
CY2020Q1 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Cost Credit Arising During Period Before Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostCreditArisingDuringPeriodBeforeTax
-13400000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost Credit Increase Decrease For Plan Amendment
DefinedBenefitPlanNetPeriodicBenefitCostCreditIncreaseDecreaseForPlanAmendment
-14600000 USD
CY2020Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
5800000 USD
farm Debt Instrument Borrowing Base Accounts Receivable
DebtInstrumentBorrowingBaseAccountsReceivable
0.85
farm Debt Instrument Borrowing Base Inventory
DebtInstrumentBorrowingBaseInventory
0.50
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.0050
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
1137058 shares
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
1170015 shares
CY2020Q4 us-gaap Shares Held In Employee Stock Option Plan Committed To Be Released
SharesHeldInEmployeeStockOptionPlanCommittedToBeReleased
0 shares
CY2020Q2 us-gaap Shares Held In Employee Stock Option Plan Committed To Be Released
SharesHeldInEmployeeStockOptionPlanCommittedToBeReleased
0 shares
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
0 shares
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
0 shares
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1137058 shares
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1170015 shares
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
5310000 USD
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
8588000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1400000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1700000 USD
CY2020Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
541000 USD
CY2020Q2 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
744000 USD
CY2020Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1415000 USD
CY2020Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1466000 USD
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1763000 USD
CY2020Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1477000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3770000 USD
CY2020Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3115000 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7489000 USD
CY2020Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6802000 USD
CY2020Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
2224000 USD
CY2020Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
2859000 USD
CY2020Q4 farm Multiemployer Plan Holdback Liability Long Term
MultiemployerPlanHoldbackLiabilityLongTerm
1544000 USD
CY2020Q2 farm Multiemployer Plan Holdback Liability Long Term
MultiemployerPlanHoldbackLiabilityLongTerm
1170000 USD
CY2020Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
1486000 USD
CY2020Q2 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
1494000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 USD
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
9000 USD
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5254000 USD
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5532000 USD
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13703000 USD
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-81000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13845000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-188000 USD
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-3.407
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.011
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.364
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.015
CY2020Q4 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
13500000 USD
CY2020Q4 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-17223000 USD
CY2019Q4 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
7595000 USD
us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-23509000 USD
us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
12104000 USD
CY2020Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
645000 USD
CY2019Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-21000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
772000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-29000 USD
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17868000 USD
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7616000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-24281000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12133000 USD
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17531521 shares
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17159108 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17477268 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17127153 shares
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17531521 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17583335 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17477268 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17550144 shares
CY2020Q4 us-gaap Earnings Per Share Basic Undistributed
EarningsPerShareBasicUndistributed
-1.02
CY2019Q4 us-gaap Earnings Per Share Basic Undistributed
EarningsPerShareBasicUndistributed
0.44
us-gaap Earnings Per Share Basic Undistributed
EarningsPerShareBasicUndistributed
-1.39
us-gaap Earnings Per Share Basic Undistributed
EarningsPerShareBasicUndistributed
0.71
CY2020Q4 us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
-1.02
CY2019Q4 us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
0.43
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
-1.39
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
0.69
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104571000 USD
CY2020Q4 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152498000 USD
CY2019Q4 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
201841000 USD
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
291098000 USD
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.000
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
40900000 USD
CY2020Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
40700000 USD
farm Longterm Purchase Commitmentadditional
LongtermPurchaseCommitmentadditional
8600000 USD
CY2012Q3 farm Loss Contingency Damages Sought Maximum Daily Value
LossContingencyDamagesSoughtMaximumDailyValue
2500.00 USD

Files In Submission

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0000034563-21-000010-index-headers.html Edgar Link pending
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0000034563-21-000010.txt Edgar Link pending
0000034563-21-000010-xbrl.zip Edgar Link pending
farm-20201231.htm Edgar Link pending
farm-20201231.xsd Edgar Link pending
farm-20201231_cal.xml Edgar Link unprocessable
farm-20201231_def.xml Edgar Link unprocessable
farm-20201231_htm.xml Edgar Link completed
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