2022 Q1 Form 10-Q Financial Statement

#000141739822000014 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $742.0M $722.3M
YoY Change 2.73% 11.31%
Cost Of Revenue $498.7M $476.4M
YoY Change 4.68% 4.66%
Gross Profit $243.3M $245.9M
YoY Change -1.06% 26.95%
Gross Profit Margin 32.79% 34.04%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.00M $28.30M
YoY Change -4.59% -26.68%
% of Gross Profit 11.1% 11.51%
Operating Expenses $137.6M $140.3M
YoY Change -1.92% 3.16%
Operating Profit $105.7M $105.6M
YoY Change 0.09% 83.02%
Interest Expense $17.30M $19.50M
YoY Change -11.28% -6.7%
% of Operating Profit 16.37% 18.47%
Other Income/Expense, Net $4.700M $1.000M
YoY Change 370.0% -56.52%
Pretax Income $85.20M $109.4M
YoY Change -22.12% -255.4%
Income Tax $29.40M $30.40M
% Of Pretax Income 34.51% 27.79%
Net Earnings $54.30M $78.10M
YoY Change -30.47% -205.54%
Net Earnings / Revenue 7.32% 10.81%
Basic Earnings Per Share $0.74 $1.04
Diluted Earnings Per Share $0.74 $1.03
COMMON SHARES
Basic Shares Outstanding 73.10M shares 75.50M shares
Diluted Shares Outstanding 73.70M shares 76.20M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $444.8M $344.9M
YoY Change 28.96% -7.78%
Cash & Equivalents $444.8M $344.9M
Short-Term Investments
Other Short-Term Assets $104.5M $145.3M
YoY Change -28.08% 67.59%
Inventory $481.2M $385.0M
Prepaid Expenses $104.5M $82.60M
Receivables $479.5M $442.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.510B $1.318B
YoY Change 14.58% -3.39%
LONG-TERM ASSETS
Property, Plant & Equipment $281.3M $296.4M
YoY Change -5.09% -15.0%
Goodwill $1.160B $1.166B
YoY Change -0.51% 2.86%
Intangibles $885.1M $939.1M
YoY Change -5.75% -14.73%
Long-Term Investments
YoY Change
Other Assets $92.70M $47.30M
YoY Change 95.98% -39.44%
Total Long-Term Assets $2.555B $2.599B
YoY Change -1.7% -8.04%
TOTAL ASSETS
Total Short-Term Assets $1.510B $1.318B
Total Long-Term Assets $2.555B $2.599B
Total Assets $4.065B $3.917B
YoY Change 3.78% -6.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $428.4M $293.8M
YoY Change 45.81% -1.38%
Accrued Expenses $429.8M $393.4M
YoY Change 9.25% 37.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.074B $920.5M
YoY Change 16.71% 14.32%
LONG-TERM LIABILITIES
Long-Term Debt $1.214B $1.212B
YoY Change 0.17% -33.65%
Other Long-Term Liabilities $61.20M $69.50M
YoY Change -11.94% 24.78%
Total Long-Term Liabilities $1.275B $1.281B
YoY Change -0.48% -31.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.074B $920.5M
Total Long-Term Liabilities $1.275B $1.281B
Total Liabilities $2.787B $2.681B
YoY Change 3.95% -15.24%
SHAREHOLDERS EQUITY
Retained Earnings $737.1M $603.1M
YoY Change 22.22% 21.49%
Common Stock $717.3M $720.5M
YoY Change -0.44% 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $152.2M $23.40M
YoY Change 550.43% -48.46%
Treasury Stock Shares 3.400M shares 1.100M shares
Shareholders Equity $1.255B $1.214B
YoY Change
Total Liabilities & Shareholders Equity $4.065B $3.917B
YoY Change 3.78% -6.53%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $54.30M $78.10M
YoY Change -30.47% -205.54%
Depreciation, Depletion And Amortization $27.00M $28.30M
YoY Change -4.59% -26.68%
Cash From Operating Activities $46.20M $192.8M
YoY Change -76.04% 601.09%
INVESTING ACTIVITIES
Capital Expenditures -$10.30M -$6.000M
YoY Change 71.67% -31.03%
Acquisitions
YoY Change
Other Investing Activities $1.600M $106.3M
YoY Change -98.49% -52.2%
Cash From Investing Activities -$8.700M $100.3M
YoY Change -108.67% -53.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.10M -196.0M
YoY Change -83.11% 2127.27%
NET CHANGE
Cash From Operating Activities 46.20M 192.8M
Cash From Investing Activities -8.700M 100.3M
Cash From Financing Activities -33.10M -196.0M
Net Change In Cash 4.400M 97.10M
YoY Change -95.47% -58.22%
FREE CASH FLOW
Cash From Operating Activities $46.20M $192.8M
Capital Expenditures -$10.30M -$6.000M
Free Cash Flow $56.50M $198.8M
YoY Change -71.58% 449.17%

Facts In Submission

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CY2021Q1 us-gaap Revenues
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us-gaap Revenues
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CY2022Q1 us-gaap Revenues
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us-gaap Revenues
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CY2021Q1 us-gaap Revenues
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us-gaap Revenues
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CY2022Q1 us-gaap Inventory Work In Process
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CY2021Q3 us-gaap Operating Lease Liability Current
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CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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CY2022Q1 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Operating Lease Liability
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CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q1 us-gaap Operating Lease Liability
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us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q3 us-gaap Goodwill
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CY2022Q1 us-gaap Goodwill
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CY2022Q1 us-gaap Long Term Debt Current
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DebtInstrumentCovenantTermsMaximumRatioofIndebtednesstoEarningsbeforeInterestTaxesDepreciationandAmortization
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DebtInstrumentCovenantTermsMinimumRatioofEarningsbeforeInterestTaxesDepreciationandAmortizationtoInterestExpense
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us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
8400000 USD
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2900000 USD
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
6600000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.345
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.278
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.332
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2022Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
700000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73700000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75800000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.05
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.04
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-3700000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
200000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3900000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
14600000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
200000 USD
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
14400000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2700000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
17100000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6100000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000.0 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10400000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1400000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1400000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2800000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2400000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4700000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4800000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9200000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
8000000.0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
1800000 USD
CY2021Q1 us-gaap Interest Income Other
InterestIncomeOther
1000000.0 USD
us-gaap Interest Income Other
InterestIncomeOther
2700000 USD
us-gaap Interest Income Other
InterestIncomeOther
1600000 USD
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
600000 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
0 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-300000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
400000 USD
CY2022Q1 hi Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
2300000 USD
CY2021Q1 hi Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
0 USD
hi Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
1200000 USD
hi Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
-1400000 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4700000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000000.0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3600000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
600000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
444800000 USD
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
1200000 USD
CY2022Q1 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
4200000 USD
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
2600000 USD
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
3500000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
446100000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
1300000 USD
CY2021Q3 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
3500000 USD
CY2021Q3 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
4200000 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
1900000 USD
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
2500000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2022Q1 us-gaap Revenues
Revenues
742000000.0 USD
CY2021Q1 us-gaap Revenues
Revenues
722300000 USD
us-gaap Revenues
Revenues
1470400000 USD
us-gaap Revenues
Revenues
1414800000 USD
CY2022Q1 us-gaap Assets
Assets
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CY2021Q3 us-gaap Assets
Assets
4014900000 USD
CY2022Q1 us-gaap Noncurrent Assets
NoncurrentAssets
417300000 USD
CY2021Q3 us-gaap Noncurrent Assets
NoncurrentAssets
433200000 USD
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1800000 USD
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000.0 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
2700000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
1600000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
17300000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
19500000 USD
us-gaap Interest Expense
InterestExpense
35200000 USD
us-gaap Interest Expense
InterestExpense
40700000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29400000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
52700000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
61700000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27000000.0 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28300000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54900000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57600000 USD
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3900000 USD
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9700000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11500000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
18800000 USD
CY2022Q1 us-gaap Restructuring Charges
RestructuringCharges
2600000 USD
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
2200000 USD
us-gaap Restructuring Charges
RestructuringCharges
3300000 USD
us-gaap Restructuring Charges
RestructuringCharges
3700000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
0 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
34100000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-3100000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
65700000 USD
CY2022Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3100000 USD
CY2021Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
300000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3100000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
400000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
55800000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
79000000.0 USD
us-gaap Profit Loss
ProfitLoss
105900000 USD
us-gaap Profit Loss
ProfitLoss
156700000 USD
CY2022Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2300000 USD
CY2021Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3200000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3500000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
5500000 USD
CY2022Q1 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
4900000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.332
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.283

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