2023 Q3 Form 10-Q Financial Statement

#000138627823000046 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $353.0M $365.9M $362.8M
YoY Change 2.7% 0.86% -1.79%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $359.3M $359.8M $337.0M
YoY Change 7.9% 6.77% -51.66%
% of Gross Profit
Research & Development $162.4M $153.1M $112.4M
YoY Change 29.63% 36.25% 19.16%
% of Gross Profit
Depreciation & Amortization $20.40M $21.17M $20.26M
YoY Change 1.26% 4.48% -3.38%
% of Gross Profit
Operating Expenses $359.9M $361.1M $337.0M
YoY Change 8.07% 7.16% -0.18%
Operating Profit -$6.839M $4.786M $23.94M
YoY Change -163.53% -80.01% -24.73%
Interest Expense -$1.000M -$3.338M -$5.029M
YoY Change -69.01% -33.62% 6605.33%
% of Operating Profit -69.75% -21.01%
Other Income/Expense, Net -$802.0K -$2.224M $962.0K
YoY Change -81.12% -331.19% -41.09%
Pretax Income -$7.880M $2.324M $19.87M
YoY Change -221.44% -88.31% -40.5%
Income Tax -$1.615M $1.746M $4.864M
% Of Pretax Income 75.13% 24.48%
Net Earnings -$6.265M $578.0K $15.01M
YoY Change -233.41% -96.15% -39.81%
Net Earnings / Revenue -1.77% 0.16% 4.14%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.12 $0.01 $275.9K
COMMON SHARES
Basic Shares Outstanding 52.35M shares 52.04M shares 54.21M shares
Diluted Shares Outstanding 52.37M shares 52.44M shares 54.39M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $751.0M $677.0M $776.3M
YoY Change -7.65% -12.79% -58.95%
Cash & Equivalents $711.4M $661.5M $776.3M
Short-Term Investments $39.60M $15.56M
Other Short-Term Assets $723.0M $584.7M $567.1M
YoY Change 50.72% 3.1% 25.97%
Inventory
Prepaid Expenses
Receivables $66.00M $61.11M $67.38M
Other Receivables $41.60M $40.87M $644.0K
Total Short-Term Assets $1.540B $1.323B $1.411B
YoY Change 13.15% -6.28% -41.19%
LONG-TERM ASSETS
Property, Plant & Equipment $174.6M $171.6M $147.8M
YoY Change 16.18% 16.09% 12.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.245B $2.379B $2.481B
YoY Change -9.49% -4.1% 115.34%
Other Assets $244.9M $231.6M $191.0M
YoY Change 10.27% 21.23% 114.06%
Total Long-Term Assets $3.124B $3.250B $3.296B
YoY Change -6.24% -1.41% 74.57%
TOTAL ASSETS
Total Short-Term Assets $1.540B $1.323B $1.411B
Total Long-Term Assets $3.124B $3.250B $3.296B
Total Assets $4.664B $4.573B $4.708B
YoY Change -0.62% -2.87% 9.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $109.4M $106.1M $87.14M
YoY Change -5.34% 21.8% 123.25%
Accrued Expenses $91.50M $95.08M $102.3M
YoY Change -3.27% -7.09% -19.89%
Deferred Revenue $6.306M $7.990M
YoY Change -56.1%
Short-Term Debt $3.194B $3.235B $3.376B
YoY Change -8.15% -4.2% 17.84%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.816B $3.725B $3.791B
YoY Change -2.2% -1.72% 18.46%
LONG-TERM LIABILITIES
Long-Term Debt $27.00M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.56M $2.927M $9.694M
YoY Change 426.42% -69.81% 315.52%
Total Long-Term Liabilities $21.56M $2.927M $9.694M
YoY Change 426.42% -69.81% 315.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.816B $3.725B $3.791B
Total Long-Term Liabilities $21.56M $2.927M $9.694M
Total Liabilities $3.868B $3.732B $3.800B
YoY Change -1.12% -1.81% 17.99%
SHAREHOLDERS EQUITY
Retained Earnings $793.9M $800.2M
YoY Change 4.78%
Common Stock $52.00K $52.00K
YoY Change -1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $795.1M $841.2M $907.6M
YoY Change
Total Liabilities & Shareholders Equity $4.664B $4.573B $4.708B
YoY Change -0.62% -2.87% 9.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$6.265M $578.0K $15.01M
YoY Change -233.41% -96.15% -39.81%
Depreciation, Depletion And Amortization $20.40M $21.17M $20.26M
YoY Change 1.26% 4.48% -3.38%
Cash From Operating Activities $4.600M $27.23M $71.81M
YoY Change -92.88% -62.08% 85.29%
INVESTING ACTIVITIES
Capital Expenditures $17.40M $18.59M -$17.53M
YoY Change -172.3% -206.05% 31.52%
Acquisitions
YoY Change
Other Investing Activities $45.40M $41.73M -$331.4M
YoY Change -129.38% -112.59% 129.99%
Cash From Investing Activities $28.00M $23.14M -$348.9M
YoY Change -115.68% -106.63% 121.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.30M -110.9M -267.1M
YoY Change -88.51% -58.47% -61.99%
NET CHANGE
Cash From Operating Activities 4.600M 27.23M 71.81M
Cash From Investing Activities 28.00M 23.14M -348.9M
Cash From Financing Activities 17.30M -110.9M -267.1M
Net Change In Cash 49.90M -60.56M -544.2M
YoY Change 36.36% -88.87% -33.75%
FREE CASH FLOW
Cash From Operating Activities $4.600M $27.23M $71.81M
Capital Expenditures $17.40M $18.59M -$17.53M
Free Cash Flow -$12.80M $8.647M $89.34M
YoY Change -114.43% -90.32% 71.54%

Facts In Submission

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The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Future events and their effects cannot be predicted with certainty; accordingly, accounting estimates require the exercise of judgment. These financial statements were prepared using information reasonably available as of June 30, 2023 and through the date of this report. The accounting estimates used in the preparation of our consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained, and as our operating environment changes. Actual results may differ from these estimates due to a variety of factors, including those identified under Part II, Item 1A. "Risk Factors" in this report.
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CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
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AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
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2415050000 usd
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CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
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CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2022Q4 us-gaap Loans Held For Sale Fair Value Disclosure
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5300000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
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3427799000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
18452000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
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us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
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CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
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CY2022Q4 gdot Deposits Secured Card Deposits
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CY2022Q4 gdot Time Deposits250000 Or More
TimeDeposits250000OrMore
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TimeDepositsLessThan250000
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CY2022Q4 us-gaap Interest Bearing Deposit Liabilities
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CY2022Q4 us-gaap Deposits
Deposits
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TimeDepositMaturitiesRemainderOfFiscalYear
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CY2023Q2 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
539000 usd
CY2023Q2 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
1031000 usd
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531000 usd
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1073000 usd
CY2023Q2 gdot Time Deposit Maturities After Year Four
TimeDepositMaturitiesAfterYearFour
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CY2023Q2 us-gaap Time Deposits
TimeDeposits
5026000 usd
gdot Effective Income Tax Rate Reconciliation Bank Owned Life Insurance Policy Benefits
EffectiveIncomeTaxRateReconciliationBankOwnedLifeInsurancePolicyBenefits
200000 usd
gdot Increase Decrease In Irc162m Limitation
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us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1260000 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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0 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1410000 usd
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12382000 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1000000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Operating Lease Payments
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1985000 usd
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P3Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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NetIncomeLoss
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NetIncomeLoss
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NetIncomeLoss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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54240000 shares
CY2022Q2 us-gaap Earnings Per Share Basic Undistributed
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us-gaap Earnings Per Share Basic Undistributed
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us-gaap Earnings Per Share Basic Undistributed
EarningsPerShareBasicUndistributed
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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14955000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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36590000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q2 us-gaap Dilutive Securities
DilutiveSecurities
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us-gaap Dilutive Securities
DilutiveSecurities
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us-gaap Dilutive Securities
DilutiveSecurities
3000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14956000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
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36590000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
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53409000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53928000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52004000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54240000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54389000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52201000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54855000 shares
CY2022Q2 us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
0.27
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
0.70
us-gaap Earnings Per Share Diluted Undistributed
EarningsPerShareDilutedUndistributed
0.97
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2452000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2292000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2395000 shares
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
2300000 usd
CY2022Q2 us-gaap Operating Income Loss
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23939000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
55781000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2925000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3935000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1288000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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280000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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248000 usd
CY2023Q2 gdot Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1386000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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10062000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3516000 usd
CY2023Q2 us-gaap Operating Lease Liability
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6546000 usd
CY2019Q4 gdot Loss Contingency Number Of Former Officers Name As Defendants
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2 officer
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
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0 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
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90000 retail_location
us-gaap Number Of Reportable Segments
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CY2022Q2 gdot Segment Revenues
SegmentRevenues
355101000 usd
gdot Segment Revenues
SegmentRevenues
773507000 usd
gdot Segment Revenues
SegmentRevenues
749779000 usd
CY2022Q2 us-gaap Revenues
Revenues
362769000 usd
us-gaap Revenues
Revenues
782256000 usd
us-gaap Revenues
Revenues
763386000 usd
CY2022Q2 gdot Segment Profit Loss
SegmentProfitLoss
67548000 usd
gdot Segment Profit Loss
SegmentProfitLoss
121412000 usd
gdot Segment Profit Loss
SegmentProfitLoss
157874000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
75531000 usd
CY2022Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-29000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
19872000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
48651000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
70607000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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