2023 Q4 Form 10-Q Financial Statement

#000137367023000058 Filed on October 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $450.4M $419.0M
YoY Change 4.48% 2.7%
Cost Of Revenue $308.8M $280.0M
YoY Change -3.1% 1.94%
Gross Profit $141.6M $139.0M
YoY Change 25.94% 4.27%
Gross Profit Margin 31.45% 33.18%
Selling, General & Admin $50.92M $46.88M
YoY Change 14.09% 8.4%
% of Gross Profit 35.95% 33.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.103M $800.0K
YoY Change 69.69% 35.14%
% of Gross Profit 0.78% 0.58%
Operating Expenses $50.92M $46.88M
YoY Change 14.09% 8.4%
Operating Profit $90.71M $92.13M
YoY Change 33.74% 2.29%
Interest Expense $5.477M $1.300M
YoY Change -4.23% -77.18%
% of Operating Profit 6.04% 1.41%
Other Income/Expense, Net $5.657M $4.612M
YoY Change 28.28% 151.88%
Pretax Income $101.8M $98.09M
YoY Change 30.64% 0.5%
Income Tax $21.48M $21.00M
% Of Pretax Income 21.1% 21.41%
Net Earnings $72.30M $72.16M
YoY Change 31.87% -1.86%
Net Earnings / Revenue 16.05% 17.22%
Basic Earnings Per Share $1.58
Diluted Earnings Per Share $1.58 $1.56
COMMON SHARES
Basic Shares Outstanding 45.38M shares 45.38M shares
Diluted Shares Outstanding 45.79M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $179.8M $223.5M
YoY Change 134.71% 363.66%
Cash & Equivalents $199.5M $223.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.533B $1.462B
Prepaid Expenses
Receivables $10.63M $10.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.724B $1.696B
YoY Change 14.56% 12.42%
LONG-TERM ASSETS
Property, Plant & Equipment $7.054M $5.402M
YoY Change 141.66% 86.66%
Goodwill $680.0K $680.0K
YoY Change 0.0% 0.0%
Intangibles $367.0K $388.0K
YoY Change -18.81% -17.97%
Long-Term Investments $84.65M $80.21M
YoY Change 14.05% 15.83%
Other Assets $35.01M $39.20M
YoY Change 5.67% 13.69%
Total Long-Term Assets $179.2M $170.8M
YoY Change 18.6% 14.48%
TOTAL ASSETS
Total Short-Term Assets $1.724B $1.696B
Total Long-Term Assets $179.2M $170.8M
Total Assets $1.903B $1.867B
YoY Change 14.93% 12.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.32M $56.60M
YoY Change 4.86% -7.19%
Accrued Expenses $104.4M $118.8M
YoY Change 10.01% 14.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $201.8M $222.6M
YoY Change 4.48% -11.28%
LONG-TERM LIABILITIES
Long-Term Debt $383.0M $382.4M
YoY Change 0.87% 1.69%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $383.0M $382.4M
YoY Change 0.87% 1.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $201.8M $222.6M
Total Long-Term Liabilities $383.0M $382.4M
Total Liabilities $548.7M $569.8M
YoY Change 0.93% -5.24%
SHAREHOLDERS EQUITY
Retained Earnings $997.0M $940.4M
YoY Change 32.17% 34.44%
Common Stock $450.0K $454.0K
YoY Change -2.17% -1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $1.301B $1.245B
YoY Change
Total Liabilities & Shareholders Equity $1.903B $1.867B
YoY Change 14.93% 12.6%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $72.30M $72.16M
YoY Change 31.87% -1.86%
Depreciation, Depletion And Amortization $1.103M $800.0K
YoY Change 69.69% 35.14%
Cash From Operating Activities -$19.36M $22.50M
YoY Change -132.62% -224.45%
INVESTING ACTIVITIES
Capital Expenditures $3.013M $1.900M
YoY Change 354.45% -785.92%
Acquisitions
YoY Change
Other Investing Activities -$337.0K -$200.0K
YoY Change -61.18% -91.9%
Cash From Investing Activities -$3.350M -$2.200M
YoY Change 118.81% -19.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.00M -5.400M
YoY Change -23.77% 186.47%
NET CHANGE
Cash From Operating Activities -19.36M 22.50M
Cash From Investing Activities -3.350M -2.200M
Cash From Financing Activities -24.00M -5.400M
Net Change In Cash -46.70M 14.90M
YoY Change -277.39% -165.6%
FREE CASH FLOW
Cash From Operating Activities -$19.36M $22.50M
Capital Expenditures $3.013M $1.900M
Free Cash Flow -$22.37M $20.60M
YoY Change -138.13% -215.71%

Facts In Submission

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CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
289641000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
539866000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
874548000 usd
CY2021Q4 us-gaap Minority Interest
MinorityInterest
14146000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
888694000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
168651 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2753000 usd
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
46415 shares
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1075000 usd
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
664000 usd
us-gaap Dividends
Dividends
2092000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4844559 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
101463000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
101463000 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-448000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5718000 usd
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
249488000 usd
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46037649 shares
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
460000 usd
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2000 shares
CY2022Q3 us-gaap Preferred Stock Including Additional Paid In Capital
PreferredStockIncludingAdditionalPaidInCapital
47696000 usd
CY2022Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0 shares
CY2022Q3 us-gaap Treasury Stock Value
TreasuryStockValue
0 usd
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
261570000 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
699514000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1009240000 usd
CY2022Q3 us-gaap Minority Interest
MinorityInterest
21563000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1030803000 usd
us-gaap Profit Loss
ProfitLoss
226316000 usd
us-gaap Profit Loss
ProfitLoss
252833000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2442000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1717000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
70000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
386000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6333000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3329000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
11265000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
19907000 usd
grbk Earnest Money Depositsand Preacquisition Costs Written Off
EarnestMoneyDepositsandPreacquisitionCostsWrittenOff
54000 usd
grbk Earnest Money Depositsand Preacquisition Costs Written Off
EarnestMoneyDepositsandPreacquisitionCostsWrittenOff
839000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
10489000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
9870000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4667000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
368000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
38602000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
248303000 usd
us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
-5697000 usd
us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
-727000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6835000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1486000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
4761000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
15302000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
19920000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
38161000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
18126000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-20988000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
232699000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31340000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
5210000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3597000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4789000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1349000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9999000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4946000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22000000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
355000000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
63000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
14472000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
42000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
312000000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1687000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
44000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
72000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
86000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1976000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1075000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
27991000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
101463000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
-93000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
2156000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
2092000 usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1840000 usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
14057000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5718000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-69809000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-53006000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
152891000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-26612000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93270000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93554000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246161000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66942000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
65802000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
63527000 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Basis of Presentation</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) and applicable regulations of the Securities and Exchange Commission (“SEC”), but do not include all of the information and footnotes required for complete financial statements. The condensed consolidated balance sheet as of December 31, 2022 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements for the periods presented reflect all adjustments of a normal, recurring nature necessary to fairly state our financial position, results of operations and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023 or subsequent periods due to seasonal variations and other factors.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management of the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes, including the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></div>
CY2023Q3 grbk Capitalized Interest As A Percentage Of Inventory
CapitalizedInterestAsAPercentageOfInventory
0.016
CY2023Q3 grbk Finished Homesand Homesunder Construction
FinishedHomesandHomesunderConstruction
535334000 usd
CY2022Q4 grbk Finished Homesand Homesunder Construction
FinishedHomesandHomesunderConstruction
603953000 usd
CY2023Q3 grbk Land And Lots Developed And Under Development
LandAndLotsDevelopedAndUnderDevelopment
874436000 usd
CY2022Q4 grbk Land And Lots Developed And Under Development
LandAndLotsDevelopedAndUnderDevelopment
768194000 usd
CY2023Q3 us-gaap Land Available For Development
LandAvailableForDevelopment
48991000 usd
CY2022Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
48369000 usd
CY2023Q3 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
3503000 usd
CY2022Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
2164000 usd
CY2023Q3 us-gaap Inventory Real Estate
InventoryRealEstate
1462264000 usd
CY2022Q4 us-gaap Inventory Real Estate
InventoryRealEstate
1422680000 usd
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
22599000 usd
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
20420000 usd
CY2022Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
22752000 usd
CY2021Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
19950000 usd
CY2023Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
3641000 usd
CY2022Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
4206000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
11008000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
11985000 usd
CY2023Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
2971000 usd
CY2022Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
3183000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
10491000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
10492000 usd
CY2022Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
21443000 usd
CY2023Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
23269000 usd
CY2022Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
21443000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2000000 usd
CY2022Q3 grbk Capitalized Interest As A Percentage Of Inventory
CapitalizedInterestAsAPercentageOfInventory
0.015
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
80210000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
74224000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22009000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17945000 usd
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
110909000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
91281000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
20824000 usd
CY2022Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12065000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17945000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
9378000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2568000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1923000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
7489000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
6134000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
57000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
2079000 usd
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
608000 usd
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
2495000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1440000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1161000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4033000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3101000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22009000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
14906000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1983000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2605000 usd
CY2023Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
1983000 usd
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
17395000 usd
CY2022Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0315
CY2023Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
35000000 usd
CY2023Q3 us-gaap Senior Notes
SeniorNotes
336112000 usd
CY2022Q4 us-gaap Senior Notes
SeniorNotes
335825000 usd
CY2022Q1 us-gaap Other Notes Payable
OtherNotesPayable
14400000 usd
CY2022Q1 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.006
CY2022Q2 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
32995000 usd
CY2021Q2 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
22001000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1672000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1654000 usd
CY2023Q3 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 usd
CY2022Q3 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 usd
CY2023Q3 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-569000 usd
CY2022Q3 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
2005000 usd
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
29239000 usd
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
21867000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5131000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
3345000 usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1840000 usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
2706000 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
448000 usd
CY2023Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
35236000 usd
CY2022Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
25660000 usd
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q3 us-gaap Dividends Cash
DividendsCash
700000 usd
us-gaap Dividends Cash
DividendsCash
2200000 usd
CY2023Q3 us-gaap Dividends Cash
DividendsCash
700000 usd
us-gaap Preferred Stock Dividend Rate Per Dollar Amount
PreferredStockDividendRatePerDollarAmount
0.359
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
38000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
23.94
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
184000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
33.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
129000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
31.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
1000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
32.35
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
92000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
33.38
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
500000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y29D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
17010000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
500000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y29D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
17010000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
200000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3300000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2000000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47239000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
29112000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13537000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45543000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48205000 shares
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23226000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25329000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52373000 usd
us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
Our contracts with homebuyers have a duration of less than one year. As such, the Company uses the practical expedient as allowed under ASC 606, Revenue from Contracts with Customers, and therefore has not disclosed the transaction price allocated to remaining performance obligations as of the end of the reporting period.
us-gaap Revenues
Revenues
1327328000 usd
us-gaap Revenues
Revenues
1326704000 usd
us-gaap Gross Profit
GrossProfit
406554000 usd
us-gaap Gross Profit
GrossProfit
410571000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
289470000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
318511000 usd
CY2023Q3 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
1462264000 usd
CY2022Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
1422680000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
65700000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
17.4 rate
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.206 rate
us-gaap Net Income Loss
NetIncomeLoss
211606000 usd
us-gaap Net Income Loss
NetIncomeLoss
236353000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2156000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2156000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
209450000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
234197000 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.86
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45543000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48205000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
445000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
339000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45988000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48544000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.82
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17000 shares
CY2023Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
311100000 usd
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
306100000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0 usd
CY2023Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
10000000 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
5000000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1400000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1200000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
161000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1225000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1618000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1533000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1501000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4287000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10325000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2402000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
7923000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
700000 usd

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