2023 Q4 Form 10-Q Financial Statement

#000148251223000157 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $223.4M $231.4M $260.4M
YoY Change -17.23% -11.1% 14.37%
Cost Of Revenue $115.5M $112.2M $105.0M
YoY Change -1.19% 6.83% 25.17%
Gross Profit $107.9M $119.3M $155.3M
YoY Change -29.49% -23.22% 8.07%
Gross Profit Margin 48.28% 51.53% 59.66%
Selling, General & Admin $19.78M $17.50M $19.80M
YoY Change 14.19% -11.59% 8.24%
% of Gross Profit 18.34% 14.67% 12.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $103.1M $98.58M $93.07M
YoY Change 6.87% 5.92% 5.08%
% of Gross Profit 95.61% 82.65% 59.92%
Operating Expenses $123.0M $228.3M $217.9M
YoY Change 8.02% 4.76% 14.22%
Operating Profit -$15.09M -$109.0M -$62.57M
YoY Change -138.55% 74.21% 33.0%
Interest Expense -$54.14M $53.58M $37.26M
YoY Change 10.63% 43.8% 20.88%
% of Operating Profit
Other Income/Expense, Net $1.010M -$39.35M -$49.25M
YoY Change -89.65% -20.1% 14.41%
Pretax Income -$82.57M -$36.18M -$6.792M
YoY Change 1359.92% 432.64% 9.87%
Income Tax $6.081M -$425.0K -$1.306M
% Of Pretax Income
Net Earnings -$97.99M -$35.75M -$6.792M
YoY Change 717.7% 426.38% 9.87%
Net Earnings / Revenue -43.86% -15.45% -2.61%
Basic Earnings Per Share -$0.27 -$0.12
Diluted Earnings Per Share -$0.70 -$0.27 -$0.12
COMMON SHARES
Basic Shares Outstanding 140.9M shares 140.9M shares 141.7M shares
Diluted Shares Outstanding 140.9M shares 141.1M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.4M $75.00M $161.7M
YoY Change -60.75% -53.61% 46.3%
Cash & Equivalents $100.4M $75.04M $161.7M
Short-Term Investments
Other Short-Term Assets $12.69M $20.90M $106.6M
YoY Change 48.01% -80.4% 736.59%
Inventory $5.954M $4.795M
Prepaid Expenses
Receivables $245.4M $310.3M $295.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $358.5M $406.2M $471.3M
YoY Change -36.11% -13.81% 21.07%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $115.9M $128.5M
YoY Change -8.83% -9.81% 113.04%
Goodwill $264.1M $263.5M $261.1M
YoY Change 0.23% 0.92% 148.31%
Intangibles
YoY Change
Long-Term Investments $252.7M $236.2M $154.1M
YoY Change 39.95% 53.26% 1.07%
Other Assets $352.4M $383.3M $634.9M
YoY Change -32.6% -39.62% 42.41%
Total Long-Term Assets $7.924B $8.581B $8.849B
YoY Change -9.53% -3.03% 5.16%
TOTAL ASSETS
Total Short-Term Assets $358.5M $406.2M $471.3M
Total Long-Term Assets $7.924B $8.581B $8.849B
Total Assets $8.282B $8.987B $9.320B
YoY Change -11.13% -3.58% 5.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $203.7M $267.4M $355.5M
YoY Change -22.86% -24.79% 15.78%
Accrued Expenses $389.2M $393.8M $396.4M
YoY Change -2.65% -0.66% 41.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $681.7M $748.2M $839.0M
YoY Change -8.83% -10.82% 25.87%
LONG-TERM LIABILITIES
Long-Term Debt $4.011B $4.483B $4.515B
YoY Change -13.77% -0.71% 9.98%
Other Long-Term Liabilities $27.75M $29.20M $38.23M
YoY Change -20.15% -23.63% -5.03%
Total Long-Term Liabilities $4.039B $4.512B $4.554B
YoY Change -13.82% -0.91% 9.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $681.7M $748.2M $839.0M
Total Long-Term Liabilities $4.039B $4.512B $4.554B
Total Liabilities $4.721B $5.261B $5.393B
YoY Change -13.13% -2.45% 12.06%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.403M $1.403M $1.408M
YoY Change -0.43% -0.36% -7.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.078B $3.179B $3.345B
YoY Change
Total Liabilities & Shareholders Equity $8.282B $8.987B $9.320B
YoY Change -11.13% -3.58% 5.87%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$97.99M -$35.75M -$6.792M
YoY Change 717.7% 426.38% 9.87%
Depreciation, Depletion And Amortization $103.1M $98.58M $93.07M
YoY Change 6.87% 5.92% 5.08%
Cash From Operating Activities $9.256M $71.30M $138.4M
YoY Change -77.4% -48.49% 22.94%
INVESTING ACTIVITIES
Capital Expenditures $71.58M $77.00M -$75.44M
YoY Change -37.9% -202.07% -10.61%
Acquisitions
YoY Change
Other Investing Activities $663.9M $45.90M -$155.7M
YoY Change 814.59% -129.47% -42.78%
Cash From Investing Activities $592.3M -$31.10M -$231.2M
YoY Change -1488.29% -86.55% -35.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -576.5M -74.00M -18.73M
YoY Change -791.4% 295.11% -105.87%
NET CHANGE
Cash From Operating Activities 9.256M 71.30M 138.4M
Cash From Investing Activities 592.3M -31.10M -231.2M
Cash From Financing Activities -576.5M -74.00M -18.73M
Net Change In Cash 25.13M -33.80M -111.5M
YoY Change -69.23% -69.68% -248.08%
FREE CASH FLOW
Cash From Operating Activities $9.256M $71.30M $138.4M
Capital Expenditures $71.58M $77.00M -$75.44M
Free Cash Flow -$62.32M -$5.700M $213.8M
YoY Change -16.13% -102.67% 8.57%

Facts In Submission

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The Company has reclassified an income tax benefit of $1.3 million and $2.9 million from other income to income tax benefit (provision) on the Consolidated Statements of Operations for the three and nine months ended September 30, 2022, respectively, to conform to the presentation for the three and nine months ended September 30, 2023.<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified a gain on derivatives of $8.0 million from gain on derivatives to non-cash interest expense on the Consolidated Statement of Cash Flows for the nine months ended September 30, 2022 to conform to the presentation for the nine months ended September 30, 2023.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified $0.9 million and $0.5 million from change in operating assets and liabilities—prepaid expenses and other assets and change in operating assets and liabilities—accounts payable, accrued liabilities and other, respectively, to deferred tax provision (benefit) on the Consolidated Statement of Cash Flows for the nine months ended September 30, 2022 to conform to the presentation for the nine months ended September 30, 2023.</span></div>
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to acquiring, developing and assessing the carrying values of its real estate properties, the fair value measurement of contingent consideration, assets acquired and liabilities assumed in business combination transactions, determining the incremental borrowing rate used in the present value calculations of its new or modified operating lessee agreements, its accrued liabilities and the valuation of performance-based equity compensation awards. The Company bases its estimates on historical experience, current market conditions and various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from these estimates.</span></div>
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CY2023Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2022Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2022Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2023Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2023Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
19500000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
16900000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 usd
CY2023Q3 hpp Deferred Rent Receivables Gross
DeferredRentReceivablesGross
290900000 usd
CY2023Q3 hpp Allowance For Doubtful Deferred Rent Receivables
AllowanceForDoubtfulDeferredRentReceivables
0 usd
CY2022Q4 hpp Deferred Rent Receivables Gross
DeferredRentReceivablesGross
279900000 usd
CY2022Q4 hpp Allowance For Doubtful Deferred Rent Receivables
AllowanceForDoubtfulDeferredRentReceivables
0 usd
CY2023Q3 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
48833000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
47329000 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4769000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5317000 usd
CY2023Q3 us-gaap Derivative Assets
DerivativeAssets
19559000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
9292000 usd
CY2023Q3 hpp Deferred Financing Costs Net
DeferredFinancingCostsNet
4327000 usd
CY2022Q4 hpp Deferred Financing Costs Net
DeferredFinancingCostsNet
5824000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
5954000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4914000 usd
CY2023Q3 us-gaap Prepaid Taxes
PrepaidTaxes
3475000 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2041000 usd
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
17422000 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
6530000 usd
CY2023Q3 hpp Warrant Fair Value
WarrantFairValue
2000 usd
CY2022Q4 hpp Warrant Fair Value
WarrantFairValue
95000 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
15153000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
17495000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
119494000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
98837000 usd
CY2023Q3 hpp Non Real Estate Investments Unrealized Gain Loss On Change In Fair Value
NonRealEstateInvestmentsUnrealizedGainLossOnChangeInFairValue
-2200000 usd
hpp Non Real Estate Investments Unrealized Gain Loss On Change In Fair Value
NonRealEstateInvestmentsUnrealizedGainLossOnChangeInFairValue
-2200000 usd
CY2022Q3 hpp Non Real Estate Investments Unrealized Gain Loss On Change In Fair Value
NonRealEstateInvestmentsUnrealizedGainLossOnChangeInFairValue
-700000 usd
hpp Unrealized Gain Loss On Stock Purchase Warrant
UnrealizedGainLossOnStockPurchaseWarrant
-100000 usd
CY2022Q3 hpp Unrealized Gain Loss On Stock Purchase Warrant
UnrealizedGainLossOnStockPurchaseWarrant
-200000 usd
hpp Unrealized Gain Loss On Stock Purchase Warrant
UnrealizedGainLossOnStockPurchaseWarrant
-1600000 usd
hpp Debt Instrument Covenant Compliance Maximum Leverage Ratio
DebtInstrumentCovenantComplianceMaximumLeverageRatio
0.60
CY2023Q3 hpp Debt Instrument Covenant Compliance Actual Leverage Ratio
DebtInstrumentCovenantComplianceActualLeverageRatio
0.490
hpp Debt Instrument Covenant Compliance Maximum Unencumbered Leverage Ratio
DebtInstrumentCovenantComplianceMaximumUnencumberedLeverageRatio
0.60
CY2023Q3 hpp Debt Instrument Covenant Compliance Unencumbered Leverage Ratio Actual
DebtInstrumentCovenantComplianceUnencumberedLeverageRatioActual
0.577
hpp Debt Instrument Covenant Compliance Minimum Fixed Charge Coverage Ratio
DebtInstrumentCovenantComplianceMinimumFixedChargeCoverageRatio
1.5
hpp Debt Instrument Covenant Compliance Fixed Charge Coverage Ratio Actual
DebtInstrumentCovenantComplianceFixedChargeCoverageRatioActual
2.1
hpp Debt Instrument Covenant Compliance Maximum Secured Indebtedness Leverage Ratio
DebtInstrumentCovenantComplianceMaximumSecuredIndebtednessLeverageRatio
0.45
hpp Debt Instrument Covenant Compliance Maximum Secured Indebtedness Leverage Ratio Actual
DebtInstrumentCovenantComplianceMaximumSecuredIndebtednessLeverageRatioActual
0.208
hpp Debt Instrument Covenant Compliance Minimum Unsecured Interest Coverage Ratio
DebtInstrumentCovenantComplianceMinimumUnsecuredInterestCoverageRatio
2.0
hpp Debt Instrument Covenant Compliance Minimum Unsecured Interest Coverage Ratio Actual
DebtInstrumentCovenantComplianceMinimumUnsecuredInterestCoverageRatioActual
2.4
hpp Debt Instrument Covenant Compliance Debt To Total Asset
DebtInstrumentCovenantComplianceDebtToTotalAsset
0.60
hpp Debt Instrument Covenant Compliance Debt To Total Asset Actual
DebtInstrumentCovenantComplianceDebtToTotalAssetActual
0.452
hpp Debt Instrument Covenant Compliance Unencumbered Assets To Unsecured Debt
DebtInstrumentCovenantComplianceUnencumberedAssetsToUnsecuredDebt
1.50
hpp Debt Instrument Covenant Compliance Unencumbered Assets To Unsecured Debt Actual
DebtInstrumentCovenantComplianceUnencumberedAssetsToUnsecuredDebtActual
2.219
hpp Debt Instrument Covenant Compliance Consolidated Income Available For Debt Service To Annual Debt Service Charge
DebtInstrumentCovenantComplianceConsolidatedIncomeAvailableForDebtServiceToAnnualDebtServiceCharge
1.5
hpp Debt Instrument Covenant Compliance Consolidated Income Available For Debt Service To Annual Debt Service Charge Actual
DebtInstrumentCovenantComplianceConsolidatedIncomeAvailableForDebtServiceToAnnualDebtServiceChargeActual
2.2
hpp Debt Instrument Covenant Compliance Secured Debt To Total Assets
DebtInstrumentCovenantComplianceSecuredDebtToTotalAssets
0.45
hpp Debt Instrument Covenant Compliance Secured Debt To Total Assets Actual
DebtInstrumentCovenantComplianceSecuredDebtToTotalAssetsActual
0.191
CY2023Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
57702000 usd
CY2022Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
43126000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
165425000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
111286000 usd
CY2023Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
8606000 usd
CY2022Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4797000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
22779000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
11674000 usd
CY2023Q3 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
4485000 usd
CY2022Q3 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
-1068000 usd
hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
19390000 usd
hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
2204000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
53581000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
37261000 usd
us-gaap Interest Expense
InterestExpense
162036000 usd
us-gaap Interest Expense
InterestExpense
101816000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
393773000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
8600000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2900000 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
16900000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
11600000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2023Q3 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
0 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
157835000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
608532000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
515865000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
460496000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
407481000 usd
CY2023Q3 hpp Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
1390474000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
3540683000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
725300000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
393800000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
391200000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10115000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
41275000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
40514000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
38938000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
36272000 usd
CY2023Q3 hpp Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
558138000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
725252000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
331479000 usd
CY2023Q3 hpp Lessee Operating Lease Contingent Rental Expense
LesseeOperatingLeaseContingentRentalExpense
2691000 usd
CY2022Q3 hpp Lessee Operating Lease Contingent Rental Expense
LesseeOperatingLeaseContingentRentalExpense
1219000 usd
hpp Lessee Operating Lease Contingent Rental Expense
LesseeOperatingLeaseContingentRentalExpense
8870000 usd
hpp Lessee Operating Lease Contingent Rental Expense
LesseeOperatingLeaseContingentRentalExpense
7316000 usd
CY2023Q3 hpp Lessee Operating Lease Minimum Rental Expense
LesseeOperatingLeaseMinimumRentalExpense
11372000 usd
CY2022Q3 hpp Lessee Operating Lease Minimum Rental Expense
LesseeOperatingLeaseMinimumRentalExpense
7841000 usd
hpp Lessee Operating Lease Minimum Rental Expense
LesseeOperatingLeaseMinimumRentalExpense
33760000 usd
hpp Lessee Operating Lease Minimum Rental Expense
LesseeOperatingLeaseMinimumRentalExpense
20122000 usd
CY2023Q3 us-gaap Derivative Assets
DerivativeAssets
19559000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
9292000 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
2221000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2023Q3 hpp Warrant Fair Value
WarrantFairValue
2000 usd
CY2022Q4 hpp Warrant Fair Value
WarrantFairValue
95000 usd
CY2023Q3 hpp Contingent Liability Fair Value
ContingentLiabilityFairValue
6283000 usd
CY2022Q4 hpp Contingent Liability Fair Value
ContingentLiabilityFairValue
9300000 usd
CY2022Q4 hpp Contingent Liability Fair Value
ContingentLiabilityFairValue
9300000 usd
hpp Contingent Liability Remeasurement
ContingentLiabilityRemeasurement
3017000 usd
CY2023Q3 hpp Contingent Liability Fair Value
ContingentLiabilityFairValue
6283000 usd
hpp Contingent Liability Remeasurement
ContingentLiabilityRemeasurement
3000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5540000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6494000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17087000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17816000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
712000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
894000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2066000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2683000 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
6252000 usd
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7388000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
19153000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
20499000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-37597000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-37597000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-17286000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17286000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-94188000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-94188000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-44515000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-44515000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140937702 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141117194 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140957170 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144677652 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140937702 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141117194 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140957170 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144677652 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
17646000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
2196000 usd
CY2023Q3 hpp Noncontrolling Interest Ownership By Noncontrolling Owners Common Shares
NoncontrollingInterestOwnershipByNoncontrollingOwnersCommonShares
550969 shares
CY2023Q3 hpp Noncontrolling Interest Ownership By Noncontrolling Owners Preferred Shares
NoncontrollingInterestOwnershipByNoncontrollingOwnersPreferredShares
1967493 shares
CY2022Q4 hpp Noncontrolling Interest Ownership By Noncontrolling Owners Common Shares
NoncontrollingInterestOwnershipByNoncontrollingOwnersCommonShares
550969 shares
CY2022Q4 hpp Noncontrolling Interest Ownership By Noncontrolling Owners Preferred Shares
NoncontrollingInterestOwnershipByNoncontrollingOwnersPreferredShares
1640873 shares
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.375
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.375
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.75
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.75
CY2023Q3 hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0
CY2023Q3 hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0
CY2022Q3 hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0.25
CY2022Q3 hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0.25
hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0.375
hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0.375
hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0.75
hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0.75
CY2023Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.3906
CY2022Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.3906
CY2023Q3 hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0
CY2023Q3 hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0
CY2022Q3 hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0.25
CY2022Q3 hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0.25
hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0.375
hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0.375
hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0.75
hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0.75
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Gross Profit
GrossProfit
119267000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
155326000 usd
us-gaap Gross Profit
GrossProfit
393954000 usd
us-gaap Gross Profit
GrossProfit
459411000 usd
CY2023Q3 us-gaap Revenues
Revenues
231443000 usd
CY2022Q3 us-gaap Revenues
Revenues
260354000 usd
us-gaap Revenues
Revenues
728874000 usd
us-gaap Revenues
Revenues
756297000 usd
CY2023Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
112176000 usd
CY2022Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
105028000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
334920000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
296886000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
119267000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
155326000 usd
us-gaap Gross Profit
GrossProfit
393954000 usd
us-gaap Gross Profit
GrossProfit
459411000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-35752000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-6792000 usd
us-gaap Profit Loss
ProfitLoss
-82046000 usd
us-gaap Profit Loss
ProfitLoss
-10861000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17512000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19795000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
55177000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
62178000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
98580000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
93070000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
294654000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
276701000 usd
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-759000 usd
CY2022Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-352000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023Q3 hpp Fee Income Non Operating
FeeIncomeNonOperating
340000 usd
CY2022Q3 hpp Fee Income Non Operating
FeeIncomeNonOperating
911000 usd
hpp Fee Income Non Operating
FeeIncomeNonOperating
5026000 usd
hpp Fee Income Non Operating
FeeIncomeNonOperating
3122000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
53581000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
37261000 usd
us-gaap Interest Expense
InterestExpense
162036000 usd
us-gaap Interest Expense
InterestExpense
101816000 usd
CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
800000 usd
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
196000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
1407000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
2026000 usd
CY2023Q3 hpp Management Income
ManagementIncome
1015000 usd
CY2022Q3 hpp Management Income
ManagementIncome
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hpp Management Income
ManagementIncome
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hpp Management Income
ManagementIncome
3159000 usd
CY2023Q3 us-gaap Management Fee Expense
ManagementFeeExpense
1015000 usd
CY2022Q3 us-gaap Management Fee Expense
ManagementFeeExpense
983000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
3138000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
3159000 usd
CY2023Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2022Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9331000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
-1344000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
10713000 usd
CY2023Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2265000 usd
CY2022Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-894000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2269000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1062000 usd
CY2023Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
16108000 usd
CY2022Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-180000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
23154000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-180000 usd
CY2023Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2022Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4795000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
28548000 usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
10000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1147000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
139000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1138000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-425000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1306000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
715000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2909000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
119267000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
155326000 usd
us-gaap Gross Profit
GrossProfit
393954000 usd
us-gaap Gross Profit
GrossProfit
459411000 usd
CY2023Q3 hpp Management Income
ManagementIncome
1000000 usd
hpp Management Income
ManagementIncome
3100000 usd
CY2022Q3 hpp Management Income
ManagementIncome
1000000 usd
hpp Management Income
ManagementIncome
3200000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75040000 usd
us-gaap Interest Paid Net
InterestPaidNet
134478000 usd
us-gaap Interest Paid Net
InterestPaidNet
68821000 usd
hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
116478000 usd
hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
181689000 usd
hpp Ground Lease Re Measurement
GroundLeaseReMeasurement
5751000 usd
hpp Ground Lease Re Measurement
GroundLeaseReMeasurement
23177000 usd
us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
0 usd
us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
160000000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2117000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
94447000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
255761000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
96555000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
29970000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100321000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
285731000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
196876000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
161667000 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19054000 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
42401000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94094000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
204068000 usd
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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