2024 Q4 Form 10-Q Financial Statement

#000199900124000027 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $1.348B $842.0M
YoY Change 60.14% -0.13%
Cost Of Revenue $109.9M $70.10M
YoY Change 56.76% -4.1%
Gross Profit $1.238B $771.9M
YoY Change 60.45% 0.25%
Gross Profit Margin 91.85% 91.67%
Selling, General & Admin $209.3M $95.90M
YoY Change 118.21% 8.73%
% of Gross Profit 16.9% 12.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $144.6M $65.90M
YoY Change 119.36% -2.8%
% of Gross Profit 11.67% 8.54%
Operating Expenses $209.3M $463.3M
YoY Change -54.83% -3.38%
Operating Profit $262.5M $308.6M
YoY Change -14.94% 6.23%
Interest Expense -$81.74M -$41.20M
YoY Change 98.4% -138.29%
% of Operating Profit -31.14% -13.35%
Other Income/Expense, Net $101.0K $700.0K
YoY Change -85.57% -53.33%
Pretax Income $178.8M $266.2M
YoY Change -32.83% -32.47%
Income Tax $43.30M $50.70M
% Of Pretax Income 24.22% 19.05%
Net Earnings $111.0M $215.5M
YoY Change -48.51% -35.29%
Net Earnings / Revenue 8.23% 25.59%
Basic Earnings Per Share $1.11 $0.25
Diluted Earnings Per Share $1.10 $4.21
COMMON SHARES
Basic Shares Outstanding 100.3M shares 100.3M shares 83.38M shares
Diluted Shares Outstanding 101.0M shares 83.80M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $89.71M $134.4M
YoY Change -33.26% -53.4%
Cash & Equivalents $89.71M $134.4M
Short-Term Investments
Other Short-Term Assets $75.76M $27.80M
YoY Change 172.52% 20.87%
Inventory $89.84M $54.90M
Prepaid Expenses
Receivables $201.7M $88.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $457.0M $305.3M
YoY Change 49.68% -30.44%
LONG-TERM ASSETS
Property, Plant & Equipment $5.215B $1.699B
YoY Change 207.04% 2.42%
Goodwill $2.786B $659.6M
YoY Change 322.38%
Intangibles $898.7M $344.2M
YoY Change 161.12%
Long-Term Investments
YoY Change
Other Assets $12.19M $2.300M
YoY Change 430.09% -53.06%
Total Long-Term Assets $8.912B $2.013B
YoY Change 342.67% 1.91%
TOTAL ASSETS
Total Short-Term Assets $457.0M $305.3M
Total Long-Term Assets $8.912B $2.013B
Total Assets $9.369B $2.319B
YoY Change 304.09% -3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.4M $56.10M
YoY Change 114.53% -11.37%
Accrued Expenses $280.3M $130.1M
YoY Change 115.47% -7.99%
Deferred Revenue $330.9M $176.8M
YoY Change 87.17%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $210.0M $0.00
YoY Change
Total Short-Term Liabilities $1.141B $446.5M
YoY Change 155.46% -3.23%
LONG-TERM LIABILITIES
Long-Term Debt $4.575B $2.273B
YoY Change 101.25% 0.33%
Other Long-Term Liabilities $53.74M $98.80M
YoY Change -45.6% -3.89%
Total Long-Term Liabilities $4.628B $2.372B
YoY Change 95.14% 0.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.141B $446.5M
Total Long-Term Liabilities $4.628B $2.372B
Total Liabilities $5.769B $2.884B
YoY Change 100.0% -0.03%
SHAREHOLDERS EQUITY
Retained Earnings $111.0M -$2.050B
YoY Change -105.41%
Common Stock $1.127B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.342B -$565.8M
YoY Change
Total Liabilities & Shareholders Equity $9.369B $2.319B
YoY Change 304.09% -3.97%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $111.0M $215.5M
YoY Change -48.51% -35.29%
Depreciation, Depletion And Amortization $144.6M $65.90M
YoY Change 119.36% -2.8%
Cash From Operating Activities $337.4M $316.9M
YoY Change 6.46% 19.05%
INVESTING ACTIVITIES
Capital Expenditures $109.7M $45.10M
YoY Change 143.13% 6.87%
Acquisitions
YoY Change
Other Investing Activities -$151.1M $0.00
YoY Change -100.0%
Cash From Investing Activities -$260.7M -$45.10M
YoY Change 478.13% -116.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$12.00M
YoY Change -81.22%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.58M -184.6M
YoY Change -79.1% -49.6%
NET CHANGE
Cash From Operating Activities 337.4M 316.9M
Cash From Investing Activities -260.7M -45.10M
Cash From Financing Activities -38.58M -184.6M
Net Change In Cash 38.04M 87.20M
YoY Change -56.37% -48.0%
FREE CASH FLOW
Cash From Operating Activities $337.4M $316.9M
Capital Expenditures $109.7M $45.10M
Free Cash Flow $227.7M $271.8M
YoY Change -16.22% 21.34%

Facts In Submission

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us-gaap Depreciation And Amortization
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Profit Loss
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134512000 usd
us-gaap Depreciation And Amortization
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211887000 usd
us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
42462000 usd
us-gaap Goodwill Impairment Loss
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0 usd
fun Unrealized Gain Loss On Notes Fx
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-5821000 usd
fun Unrealized Gain Loss On Notes Fx
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1950000 usd
us-gaap Share Based Compensation
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53362000 usd
us-gaap Share Based Compensation
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15841000 usd
us-gaap Deferred Income Tax Expense Benefit
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us-gaap Other Noncash Expense
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12859000 usd
us-gaap Other Noncash Expense
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16442000 usd
us-gaap Increase Decrease In Other Receivables
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17287000 usd
us-gaap Increase Decrease In Inventories
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8557000 usd
us-gaap Increase Decrease In Inventories
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9615000 usd
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable
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4918000 usd
us-gaap Increase Decrease In Accounts Payable
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4559000 usd
us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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35359000 usd
us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Interest Payable Net
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17095000 usd
us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Accrued Salaries
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us-gaap Increase Decrease In Accrued Salaries
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us-gaap Increase Decrease In Self Insurance Reserve
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18207000 usd
us-gaap Increase Decrease In Self Insurance Reserve
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1401000 usd
us-gaap Increase Decrease In Other Operating Liabilities
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11648000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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405983000 usd
us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
151085000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Lines Of Credit
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156000000 usd
us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Issuance Of Debt
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1000000000 usd
us-gaap Proceeds From Issuance Of Debt
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us-gaap Repayments Of Notes Payable
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1056867000 usd
us-gaap Repayments Of Notes Payable
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fun Payments For Repurchase Of Limited Partnership Units
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us-gaap Payments Of Distributions To Affiliates
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30764000 usd
us-gaap Payments Of Distributions To Affiliates
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46275000 usd
us-gaap Payments Of Debt Issuance Costs
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2643000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Minority Shareholders
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Capitalized
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us-gaap Goodwill Impairment Loss
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fun Unrealized Gain Loss On Notes Fx
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fun Unrealized Gain Loss On Notes Fx
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1950000 usd
us-gaap Share Based Compensation
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Other Noncash Expense
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us-gaap Increase Decrease In Other Receivables
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Interest Payable Net
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17095000 usd
us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Accrued Salaries
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us-gaap Increase Decrease In Accrued Salaries
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us-gaap Increase Decrease In Self Insurance Reserve
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18207000 usd
us-gaap Increase Decrease In Self Insurance Reserve
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1401000 usd
us-gaap Increase Decrease In Other Operating Liabilities
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11648000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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405983000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
330018000 usd
us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Repayments Of Notes Payable
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us-gaap Payments Of Distributions To Affiliates
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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2865000 usd
us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-1895000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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33205000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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134394000 usd
us-gaap Interest Paid Net
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84094000 usd
us-gaap Interest Paid Capitalized
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3399000 usd
us-gaap Interest Paid Capitalized
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3017000 usd
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30672000 usd
us-gaap Income Taxes Paid Net
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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fun Percentage Of Park Attendance And Revenue During Peak Period
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">As a result of the Mergers (described in </span><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ib7054969f6024785b6f7ea2b14c2775a_43" style="color:#0000ff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">Note 2</a></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">), the Combined Company made certain reclassification adjustments to prior period amounts where it adopted the Former Six Flags classification as opposed to the Former Cedar Fair classification. These reclassifications had no net impact on net revenues, operating income, net income, cash flows, or total assets, liabilities and equity.</span></div>
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fun Percentage Of Park Attendance And Revenue During Peak Period
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CY2024Q3 fun Share Based Compensation Arrangement By Share Based Payment Award Vesting Protections For Qualifying Terminations Period
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0.90
CY2024Q3 fun Share Based Compensation Arrangement By Share Based Payment Award Vesting Protections For Qualifying Terminations Period
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CY2024Q3 fun Share Based Compensation Arrangement By Share Based Payment Award Vesting Protections For Qualifying Terminations Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingProtectionsForQualifyingTerminationsPeriod
P24M
CY2024Q3 fun Concessionaire Remittance
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38755000 usd
CY2023Q3 fun Concessionaire Remittance
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23518000 usd
fun Concessionaire Remittance
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57773000 usd
fun Concessionaire Remittance
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42544000 usd
CY2024Q3 us-gaap Revenues
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CY2023Q3 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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CY2023Q4 fun Contract With Customer Liability Percentage Season Long Products
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
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42462000 usd
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CY2022Q4 us-gaap Goodwill Gross
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CY2022Q4 us-gaap Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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351000 usd
CY2023Q3 us-gaap Goodwill Gross
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173797000 usd
CY2023Q3 us-gaap Goodwill
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263557000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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CY2024Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
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2547454000 usd
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2342275000 usd
CY2024Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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1635333000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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1613804000 usd
CY2024Q3 us-gaap Goodwill Impairment Loss
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CY2023Q4 us-gaap Goodwill Gross
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438422000 usd
CY2023Q4 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Acquired During Period
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2553091000 usd
us-gaap Goodwill Impairment Loss
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42462000 usd
us-gaap Goodwill Impairment Loss
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42462000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
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10855000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
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10855000 usd
CY2024Q3 us-gaap Goodwill Gross
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3002368000 usd
CY2024Q3 us-gaap Goodwill
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