2023 Q3 Form 10-Q Financial Statement
#000081555623000041 Filed on July 18, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
Revenue | $1.846B | $1.883B |
YoY Change | 2.41% | 5.88% |
Cost Of Revenue | $998.3M | $1.026B |
YoY Change | 2.3% | 7.84% |
Gross Profit | $847.6M | $857.5M |
YoY Change | 2.55% | 3.61% |
Gross Profit Margin | 45.92% | 45.54% |
Selling, General & Admin | $460.9M | $462.6M |
YoY Change | 3.04% | 4.14% |
% of Gross Profit | 54.38% | 53.95% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $42.10M | $44.90M |
YoY Change | -4.54% | 8.98% |
% of Gross Profit | 4.97% | 5.24% |
Operating Expenses | $460.9M | $462.6M |
YoY Change | 3.04% | 4.14% |
Operating Profit | $386.7M | $394.9M |
YoY Change | 1.98% | 3.0% |
Interest Expense | $2.100M | -$2.300M |
YoY Change | -153.85% | -182.14% |
% of Operating Profit | 0.54% | -0.58% |
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | $385.4M | $392.6M |
YoY Change | 2.69% | 3.13% |
Income Tax | $89.90M | $94.60M |
% Of Pretax Income | 23.33% | 24.1% |
Net Earnings | $295.5M | $298.0M |
YoY Change | 3.83% | 3.8% |
Net Earnings / Revenue | 16.01% | 15.82% |
Basic Earnings Per Share | $0.52 | $0.52 |
Diluted Earnings Per Share | $0.52 | $0.52 |
COMMON SHARES | ||
Basic Shares Outstanding | 571.3M shares | 571.0M shares |
Diluted Shares Outstanding | 573.1M shares | 572.9M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $297.5M | $243.6M |
YoY Change | 28.51% | -1.73% |
Cash & Equivalents | $297.5M | $243.6M |
Short-Term Investments | ||
Other Short-Term Assets | $150.0M | $156.4M |
YoY Change | -14.48% | 21.05% |
Inventory | $1.514B | $1.565B |
Prepaid Expenses | ||
Receivables | $1.171B | $1.172B |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $3.148B | $3.137B |
YoY Change | -1.5% | -0.5% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.012B | $1.274B |
YoY Change | -19.6% | 26.3% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $163.3M | $165.8M |
YoY Change | -5.88% | -5.85% |
Total Long-Term Assets | $1.449B | $1.440B |
YoY Change | 1.2% | 0.01% |
TOTAL ASSETS | ||
Total Short-Term Assets | $3.148B | $3.137B |
Total Long-Term Assets | $1.449B | $1.440B |
Total Assets | $4.597B | $4.577B |
YoY Change | -0.67% | -0.34% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $275.1M | $262.0M |
YoY Change | -0.76% | -10.21% |
Accrued Expenses | $235.8M | $324.6M |
YoY Change | -37.14% | 20.8% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $60.00M | $150.0M |
YoY Change | -60.08% | -23.08% |
Total Short-Term Liabilities | $667.9M | $736.6M |
YoY Change | -16.78% | -13.24% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $200.0M | $200.0M |
YoY Change | -50.58% | -35.48% |
Other Long-Term Liabilities | $900.0K | $175.1M |
YoY Change | -99.46% | 5.8% |
Total Long-Term Liabilities | $200.9M | $375.1M |
YoY Change | -64.8% | 21.0% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $667.9M | $736.6M |
Total Long-Term Liabilities | $200.9M | $375.1M |
Total Liabilities | $868.8M | $1.196B |
YoY Change | -40.74% | 3.19% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $3.508B | $3.412B |
YoY Change | 8.28% | 7.58% |
Common Stock | $30.30M | $25.60M |
YoY Change | 252.33% | -58.37% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $3.467B | $3.381B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $4.597B | $4.577B |
YoY Change | -0.67% | -0.34% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $295.5M | $298.0M |
YoY Change | 3.83% | 3.8% |
Depreciation, Depletion And Amortization | $42.10M | $44.90M |
YoY Change | -4.54% | 8.98% |
Cash From Operating Activities | $388.1M | $302.1M |
YoY Change | 50.48% | 99.8% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $46.90M | $55.90M |
YoY Change | -197.71% | 17.68% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $100.0K | $1.700M |
YoY Change | -97.14% | 240.0% |
Cash From Investing Activities | -$43.00M | -$54.20M |
YoY Change | -3.37% | 23.46% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | $199.8M | $199.9M |
YoY Change | 12.56% | 11.99% |
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $245.0M | $455.0M |
YoY Change | -62.02% | 42.19% |
Cash From Financing Activities | -$286.9M | -243.3M |
YoY Change | 29.94% | 183.24% |
NET CHANGE | ||
Cash From Operating Activities | $388.1M | 302.1M |
Cash From Investing Activities | -$43.00M | -54.20M |
Cash From Financing Activities | -$286.9M | -243.3M |
Net Change In Cash | $53.90M | 4.600M |
YoY Change | -828.38% | -66.42% |
FREE CASH FLOW | ||
Cash From Operating Activities | $388.1M | $302.1M |
Capital Expenditures | $46.90M | $55.90M |
Free Cash Flow | $341.2M | $246.2M |
YoY Change | 11.54% | 137.42% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
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Stockholders Equity
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Stockholders Equity
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us-gaap |
Common Stock Dividends Per Share Cash Paid
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us-gaap |
Common Stock Dividends Per Share Cash Paid
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Common Stock Dividends Per Share Cash Paid
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Net Income Loss
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Net Income Loss
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Depreciation
Depreciation
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Depreciation
Depreciation
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Depreciation
Depreciation
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Depreciation
Depreciation
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Gain Loss On Sale Of Property Plant Equipment
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Gain Loss On Sale Of Property Plant Equipment
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Provision For Doubtful Accounts
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Provision For Doubtful Accounts
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Deferred Income Taxes And Tax Credits
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Deferred Income Taxes And Tax Credits
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Deferred Income Taxes And Tax Credits
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Share Based Compensation
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Share Based Compensation
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Share Based Compensation
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Amortization Of Intangible Assets
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Increase Decrease In Accounts Receivable
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Increase Decrease In Accounts Receivable
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Increase Decrease In Inventories
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Increase Decrease In Inventories
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IncreaseDecreaseInInventories
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Increase Decrease In Accounts Payable
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Increase Decrease In Accrued Liabilities
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Increase Decrease In Accrued Liabilities
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Increase Decrease In Accrued Income Taxes Payable
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us-gaap |
Increase Decrease In Other Operating Capital Net
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us-gaap |
Increase Decrease In Other Operating Capital Net
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Increase Decrease In Other Operating Capital Net
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CY2022Q2 | us-gaap |
Increase Decrease In Other Operating Capital Net
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Net Cash Provided By Used In Operating Activities
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Net Cash Provided By Used In Operating Activities
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Payments To Acquire Property Plant And Equipment
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Proceeds From Sale Of Property Plant And Equipment
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Proceeds From Sale Of Property Plant And Equipment
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Payments For Proceeds From Other Investing Activities
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Payments For Proceeds From Other Investing Activities
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Net Cash Provided By Used In Investing Activities
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Net Cash Provided By Used In Investing Activities
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Net Cash Provided By Used In Investing Activities
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Net Cash Provided By Used In Investing Activities
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Proceeds From Issuance Of Long Term Debt
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|
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Proceeds From Issuance Of Long Term Debt
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Proceeds From Issuance Of Long Term Debt
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Proceeds From Issuance Of Long Term Debt
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Repayments Of Long Term Debt
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Repayments Of Long Term Debt
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Proceeds From Stock Options Exercised
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Proceeds From Stock Options Exercised
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|
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Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
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us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
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CY2023Q2 | us-gaap |
Payments For Repurchase Of Common Stock
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|
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Payments For Repurchase Of Common Stock
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Payments Of Dividends
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Payments Of Dividends
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Payments Of Dividends
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Net Cash Provided By Used In Financing Activities
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Net Cash Provided By Used In Financing Activities
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Interest Paid Net
InterestPaidNet
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Interest Paid Net
InterestPaidNet
|
5000000.0 | usd | |
CY2023Q2 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3100000 | usd |
CY2022Q2 | us-gaap |
Interest Paid Net
InterestPaidNet
|
2700000 | usd |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
193700000 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
175400000 | usd | |
CY2023Q2 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
184000000.0 | usd |
CY2022Q2 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
160200000 | usd |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
64300000 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
55600000 | usd | |
CY2023Q2 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
38400000 | usd |
CY2022Q2 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
31700000 | usd |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3742200000 | usd | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
3482600000 | usd | |
CY2023Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1883100000 | usd |
CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1778600000 | usd |
CY2023Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.35 | |
CY2022Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.31 | |
CY2023Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.35 | |
CY2022Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.31 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
10840912 | shares | |
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5852489 | shares |
CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2890559 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P8Y | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
|
P10Y | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3800000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3000000.0 | usd | |
CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1900000 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1500000 | usd |
CY2023Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
20600000 | usd |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P4Y5M26D | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
571033444 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
575510253 | shares | |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
571138039 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
575462097 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1724032 | shares | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1998786 | shares | |
CY2023Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1752121 | shares |
CY2022Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1940124 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
572757476 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
577509039 | shares | |
CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
572890160 | shares |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
577402221 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2244555 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1350936 | shares | |
CY2023Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1866320 | shares |
CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1354464 | shares |
fast |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
|
52.17 | ||
fast |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
|
55.20 | ||
CY2023Q2 | fast |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
|
52.96 | |
CY2022Q2 | fast |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
|
55.22 | |
us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
0 | usd | |
CY2023Q2 | us-gaap |
Residual Value Of Leased Asset
ResidualValueOfLeasedAsset
|
94600000 | usd |
CY2023Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
350000000.0 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
555000000.0 | usd |
CY2023Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
150000000.0 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
201800000 | usd |
CY2023Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
200000000.0 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
353200000 | usd |