2017 Q1 Form 10-Q Financial Statement

#000079923317000025 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $129.9M $162.8M
YoY Change -20.2% -13.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $88.60M $113.2M
YoY Change -21.73% -16.58%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.94M $25.71M
YoY Change -10.76% -2.03%
% of Gross Profit
Operating Expenses $116.6M $143.8M
YoY Change -18.92% -15.16%
Operating Profit $19.36M $20.25M
YoY Change -4.38% -28.35%
Interest Expense $300.0K $100.0K
YoY Change 200.0%
% of Operating Profit 1.55% 0.49%
Other Income/Expense, Net
YoY Change
Pretax Income $19.65M $20.33M
YoY Change -3.32% -28.11%
Income Tax $5.615M $5.948M
% Of Pretax Income 28.57% 29.26%
Net Earnings $14.04M $14.38M
YoY Change -2.37% -18.37%
Net Earnings / Revenue 10.8% 8.83%
Basic Earnings Per Share $0.17 $0.17
Diluted Earnings Per Share $0.17 $0.17
COMMON SHARES
Basic Shares Outstanding 83.29M shares 83.37M shares
Diluted Shares Outstanding 83.34M shares 83.46M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.2M $69.70M
YoY Change 128.41% 33.52%
Cash & Equivalents $159.2M $69.75M
Short-Term Investments
Other Short-Term Assets $21.87M $13.26M
YoY Change 64.93% -61.08%
Inventory
Prepaid Expenses
Receivables $46.22M $58.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $237.6M $149.7M
YoY Change 58.76% -23.35%
LONG-TERM ASSETS
Property, Plant & Equipment $388.5M $446.7M
YoY Change -13.03% -2.53%
Goodwill $100.2M $100.2M
YoY Change 0.0% 0.0%
Intangibles $11.61M $13.53M
YoY Change -14.21% -14.1%
Long-Term Investments
YoY Change
Other Assets $12.19M $11.46M
YoY Change 6.4% 4.6%
Total Long-Term Assets $514.1M $577.1M
YoY Change -10.92% -1.39%
TOTAL ASSETS
Total Short-Term Assets $237.6M $149.7M
Total Long-Term Assets $514.1M $577.1M
Total Assets $751.7M $726.8M
YoY Change 3.43% -6.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.20M $6.400M
YoY Change 153.13% -81.12%
Accrued Expenses $53.90M $62.30M
YoY Change -13.48% 1.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $73.45M $75.14M
YoY Change -2.25% -21.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $67.50M $10.95M
YoY Change 516.27% -11.8%
Total Long-Term Liabilities $160.0M $183.1M
YoY Change -12.61% -4.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.45M $75.14M
Total Long-Term Liabilities $160.0M $183.1M
Total Liabilities $233.5M $258.2M
YoY Change -9.59% -10.27%
SHAREHOLDERS EQUITY
Retained Earnings $638.0M $588.7M
YoY Change 8.39% 11.98%
Common Stock $4.310M $4.930M
YoY Change -12.58% -3.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $124.1M $125.0M
YoY Change -0.75% 228.39%
Treasury Stock Shares 7.397M shares 7.455M shares
Shareholders Equity $518.2M $468.5M
YoY Change
Total Liabilities & Shareholders Equity $751.7M $726.8M
YoY Change 3.43% -6.88%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $14.04M $14.38M
YoY Change -2.37% -18.37%
Depreciation, Depletion And Amortization $22.94M $25.71M
YoY Change -10.76% -2.03%
Cash From Operating Activities $32.10M $55.91M
YoY Change -42.59% 0.4%
INVESTING ACTIVITIES
Capital Expenditures $17.62M $2.865M
YoY Change 514.9% -45.14%
Acquisitions
YoY Change
Other Investing Activities $0.00 $94.00K
YoY Change -100.0% -105.67%
Cash From Investing Activities $3.925M -$3.051M
YoY Change -228.65% -180.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $14.68M
YoY Change -100.0%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$1.730M -$16.34M
YoY Change -89.42% -33.56%
NET CHANGE
Cash From Operating Activities $32.10M $55.91M
Cash From Investing Activities $3.925M -$3.051M
Cash From Financing Activities -$1.730M -$16.34M
Net Change In Cash $34.29M $36.52M
YoY Change -6.08% 4.72%
FREE CASH FLOW
Cash From Operating Activities $32.10M $55.91M
Capital Expenditures $17.62M $2.865M
Free Cash Flow $14.48M $53.05M
YoY Change -72.7% 5.11%

Facts In Submission

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CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
19363000 USD
CY2016Q1 us-gaap Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
8092000 USD
CY2017Q1 us-gaap Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
3779000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10727000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13286000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
13841000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
21867000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12382000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12190000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2016Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4933000 USD
CY2017Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
5103000 USD
CY2016Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
8181000 USD
CY2017Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
10379000 USD
CY2016Q1 us-gaap Payments For Proceeds From Delayed Tax Exempt Exchange
PaymentsForProceedsFromDelayedTaxExemptExchange
3875000 USD
CY2017Q1 us-gaap Payments For Proceeds From Delayed Tax Exempt Exchange
PaymentsForProceedsFromDelayedTaxExemptExchange
3823000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
94000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-192000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14678000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1666000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1667000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
63000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2865000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17617000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3783000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
21542000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
659053000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
640531000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
407648000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
388493000 USD
CY2016Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1443000 USD
CY2017Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
512000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21700000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25300000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
12400000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
12200000 USD
CY2016Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
9300000 USD
CY2017Q1 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
13100000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
625668000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
638037000 USD
CY2016Q1 us-gaap Revenues
Revenues
162786000 USD
CY2017Q1 us-gaap Revenues
Revenues
129903000 USD
CY2016Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
19132000 USD
CY2017Q1 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
18415000 USD
CY2016Q4 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
60257000 USD
CY2017Q1 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
58013000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
700000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
100000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.00
CY2016Q1 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
17.48
CY2017Q1 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
0.00
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
102000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
89000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
53000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
44000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
18.36
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
17.68
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
21.53
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
20.33
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
46000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
9000 shares
CY2016Q1 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
18.51
CY2017Q1 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
26.12
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
33000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
0 shares
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
50000 USD
CY2017Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
3296000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
505826000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
518245000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
7402000 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
7397000 shares
CY2016Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
922000 shares
CY2017Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
124182000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
124102000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8751000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7096000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
415000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
17000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2400000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-750000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-790000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
70000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-800000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-1700000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1293000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
5700000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4800000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
74400000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83460000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83337000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83369000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83292000 shares
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</font></div></div>

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