$HZO
MARINEMAX INC

2020 Q1 Form 10-Q Financial Statement

#000156459020019688 Filed on April 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q3 2019 Q1
Revenue $308.5M $308.1M $303.6M
YoY Change 1.61% -0.15% 12.19%
Cost Of Revenue $229.7M $220.7M $229.4M
YoY Change 0.14% -3.87% 13.94%
Gross Profit $78.78M $87.44M $74.20M
YoY Change 6.16% 10.68% 7.08%
Gross Profit Margin 25.54% 28.38% 24.44%
Selling, General & Admin $69.06M $74.86M $63.98M
YoY Change 7.95% 20.64% 9.06%
% of Gross Profit 87.67% 85.62% 86.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.200M $3.100M $2.800M
YoY Change 14.29% 10.71% 7.69%
% of Gross Profit 4.06% 3.55% 3.77%
Operating Expenses $69.06M $74.86M $63.98M
YoY Change 7.95% 20.64% 9.06%
Operating Profit $9.716M $12.58M $10.23M
YoY Change -4.99% -25.78% -3.84%
Interest Expense $3.013M $3.094M $3.033M
YoY Change -0.66% 53.02% 6.8%
% of Operating Profit 31.01% 24.6% 29.66%
Other Income/Expense, Net
YoY Change
Pretax Income $6.703M $9.484M $7.193M
YoY Change -6.81% -36.46% -7.71%
Income Tax $1.600M $2.799M $1.890M
% Of Pretax Income 23.87% 29.51% 26.28%
Net Earnings $5.065M $6.685M $5.303M
YoY Change -4.49% -42.07% -14.25%
Net Earnings / Revenue 1.64% 2.17% 1.75%
Basic Earnings Per Share
Diluted Earnings Per Share $0.23 $0.31 $0.23
COMMON SHARES
Basic Shares Outstanding 21.52M 22.84M
Diluted Shares Outstanding 21.96M 21.90M 23.42M

Balance Sheet

Concept 2020 Q1 2019 Q3 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.40M $38.50M $63.60M
YoY Change 1.26% -21.11% 11.38%
Cash & Equivalents $64.41M $38.51M $63.60M
Short-Term Investments
Other Short-Term Assets $9.400M $10.20M $8.800M
YoY Change 6.82% 88.89% 72.55%
Inventory $506.9M $477.5M $454.6M
Prepaid Expenses
Receivables $35.81M $42.40M $45.51M
Other Receivables $0.00 $1.403M $0.00
Total Short-Term Assets $616.5M $568.6M $572.5M
YoY Change 7.68% 22.2% 9.7%
LONG-TERM ASSETS
Property, Plant & Equipment $143.2M $144.3M $140.9M
YoY Change 1.62% 4.02% 8.45%
Goodwill $64.01M
YoY Change 133.6%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.755M $7.125M $35.60M
YoY Change -78.22% 26.51% -7.05%
Total Long-Term Assets $256.6M $215.5M $176.5M
YoY Change 45.38% 22.97% 4.89%
TOTAL ASSETS
Total Short-Term Assets $616.5M $568.6M $572.5M
Total Long-Term Assets $256.6M $215.5M $176.5M
Total Assets $873.1M $784.1M $749.0M
YoY Change 16.57% 22.41% 8.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.26M $33.67M $11.63M
YoY Change 31.25% 45.56% -35.05%
Accrued Expenses $34.63M $42.85M $37.10M
YoY Change -6.64% 30.14% 19.29%
Deferred Revenue $26.79M $24.30M $33.33M
YoY Change -19.61% 42.89%
Short-Term Debt $362.9M $312.1M $297.5M
YoY Change 21.97% 46.54% -0.56%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $446.4M $412.9M $379.6M
YoY Change 17.61% 44.36% 3.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.132M $1.229M $1.000M
YoY Change 13.2% -12.21% -66.67%
Total Long-Term Liabilities $1.132M $1.229M $952.0K
YoY Change 18.91% -14.12% -68.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $446.4M $412.9M $379.6M
Total Long-Term Liabilities $1.132M $1.229M $952.0K
Total Liabilities $486.0M $415.3M $380.5M
YoY Change 27.72% 44.47% 2.52%
SHAREHOLDERS EQUITY
Retained Earnings $217.2M $202.5M $176.7M
YoY Change 22.93% 21.91%
Common Stock $273.8M $270.0M $267.3M
YoY Change 2.45% 2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $103.0M
YoY Change 36.87%
Treasury Stock Shares $6.187M
Shareholders Equity $387.1M $368.8M $368.5M
YoY Change
Total Liabilities & Shareholders Equity $873.1M $784.1M $749.0M
YoY Change 16.57% 22.41% 8.52%

Cashflow Statement

Concept 2020 Q1 2019 Q3 2019 Q1
OPERATING ACTIVITIES
Net Income $5.065M $6.685M $5.303M
YoY Change -4.49% -42.07% -14.25%
Depreciation, Depletion And Amortization $3.200M $3.100M $2.800M
YoY Change 14.29% 10.71% 7.69%
Cash From Operating Activities $700.0K -$16.80M $2.900M
YoY Change -75.86% -193.33% -92.12%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M -$3.700M -$4.900M
YoY Change -65.31% 23.33% 8.89%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$27.30M $400.0K
YoY Change 150.0% 245.57% -126.67%
Cash From Investing Activities -$700.0K -$30.90M -$4.500M
YoY Change -84.44% 183.49% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.60M 14.90M 26.70M
YoY Change 7.12% -173.04% -387.1%
NET CHANGE
Cash From Operating Activities 700.0K -16.80M 2.900M
Cash From Investing Activities -700.0K -30.90M -4.500M
Cash From Financing Activities 28.60M 14.90M 26.70M
Net Change In Cash 28.60M -32.80M 25.10M
YoY Change 13.94% 146.62% 16.74%
FREE CASH FLOW
Cash From Operating Activities $700.0K -$16.80M $2.900M
Capital Expenditures -$1.700M -$3.700M -$4.900M
Free Cash Flow $2.400M -$13.10M $7.800M
YoY Change -69.23% -162.38% -81.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Proceeds From Insurance Settlement Investing Activities
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Income Taxes Paid
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us-gaap Nature Of Operations
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">COMPANY BACKGROUND:</p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are the largest recreational boat and yacht retailer in the United States.  We engage primarily in the retail sale, brokerage, and service of new and used boats, motors, trailers, marine parts and accessories and offer slip and storage accommodations in certain locations.  In addition, we arrange related boat financing, insurance, and extended service contracts.  We also offer the charter of power yachts in the British Virgin Islands.  As of March 31, 2020, we operated through 59 retail locations in 16 states, consisting of Alabama, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Texas. Our MarineMax Vacations operation maintains a facility in Tortola, British Virgin Islands. We also own Fraser Yachts Group, a leading superyacht brokerage and luxury yacht services company with operations in multiple countries. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are the nation’s largest retailer of Sea Ray and Boston Whaler recreational boats and yachts, which are manufactured by Brunswick Corporation (“Brunswick”). Sales of new Brunswick boats accounted for approximately 36% of our revenue in fiscal 2019.  Sales of new Sea Ray and Boston Whaler boats, both divisions of Brunswick, accounted for approximately 15% and 19%, respectively, of our revenue in fiscal 2019. Brunswick is a world leading manufacturer of marine products and marine engines. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Beginning in March 2020, we have temporarily closed certain departments or locations based on guidance from local government or health officials as a result of the COVID-19 global pandemic<span style="color:#000000;">. We are </span>following guidelines to ensure we are safely operating as recommended. We are taking proactive steps to enhance financial flexibility including reducing orders from manufacturers, implementing operating cost savings plans, delaying or reducing capital expenditures, and furloughing team members associated with temporary closures. <span style="Background-color:#FEFEFE;">As the COVID-19 pandemic is complex and evolving rapidly with many unknowns, the Company will continue to monitor ongoing developments and respond accordingly.</span> Management expects its business, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 pandemic on the Company’s business and the duration for which it may have an impact cannot be determined at this time. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In June 2018, Brunswick announced it was discontinuing Sea Ray sport yacht and yacht models.  Sea Ray sport yacht and yacht models represented approximately 10% of revenue during fiscal year 2018. Our brand and product diversification actions allowed us to replace the Sea Ray sport yacht and yacht revenue.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have dealership agreements with Sea Ray, Boston Whaler, Harris, and Mercury Marine, all subsidiaries or divisions of Brunswick. We also have dealer agreements with Italy-based Azimut-Benetti Group’s product line for Azimut and Benetti yachts and mega yachts. These agreements allow us to purchase, stock, sell, and service these manufacturers’ boats and products. These agreements also allow us to use these manufacturers’ names, trade symbols, and intellectual properties in our operations. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have multi-year dealer agreements with Brunswick covering Sea Ray products that appoint us as the exclusive dealer of Sea Ray boats in our geographic markets. We are the exclusive dealer for Boston Whaler through multi-year dealer agreements for many of our geographic markets. In addition, we are the exclusive dealer for Azimut Yachts for the entire United States through a multi-year dealer agreement. Sales of new Azimut boats accounted for approximately 9% of our revenue in fiscal 2019. We believe non-Brunswick brands offer a migration for our existing customer base or fill a void in our product offerings, and accordingly, do not compete with the business generated from our other prominent brands.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As is typical in the industry, we deal with most of our manufacturers, other than Sea Ray, Boston Whaler, and Azimut Yachts, under renewable annual dealer agreements, each of which gives us the right to sell various makes and models of boats within a given geographic region.  Any change or termination of these agreements, or the agreements discussed above, for any reason, or changes in competitive, regulatory, or marketing practices, including rebate or incentive programs, could adversely affect our results of operations.  Although there are a limited number of manufacturers of the type of boats and products that we sell, we believe that adequate alternative sources would be available to replace any manufacturer other than Sea Ray, Boston Whaler, and Azimut as a product source.  These alternative sources may not be available at the time of any interruption, and alternative products may not be available at comparable terms, which could affect operating results adversely.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">General economic conditions and consumer spending patterns can negatively impact our operating results.  Unfavorable local, regional, national, or global economic developments or uncertainties regarding future economic prospects could reduce consumer spending in the markets we serve and adversely affect our business.  Economic conditions in areas in which we operate dealerships, particularly Florida, in which we generated approximately 51% and 54% of our revenue during fiscal 2018 and 2019, respectively, can have a major impact on our operations.  Local influences, such as corporate downsizing, military base closings, inclement weather </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">such as Hurricane Sandy in 2012 or Hurricanes Harvey and Irma in 2017, environmental conditions, and specific events, such as the BP oil spill in the Gulf of Mexico in 2010,</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> as well as global influences, such as the COVID-19 pandemic,</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> also could adversely affect, and in certain instances have adversely affected, our operations in certain markets</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In an economic downturn, consumer discretionary spending levels generally decline, at times resulting in disproportionately large reductions in the sale of luxury goods.  Consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable.  As a result, an economic downturn could impact us more than certain of our competitors due to our strategic focus on a higher end of our market.  Although we have expanded our operations during periods of stagnant or modestly declining industry trends, the cyclical nature of the recreational boating industry or the lack of industry growth may adversely affect our business, financial condition, and results of operations.  Any period of adverse economic conditions or low consumer confidence is likely to have a negative effect on our business.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Historically, in periods of lower consumer spending and depressed economic conditions, we have, among other things, substantially reduced our acquisition program, delayed new store openings, reduced our inventory purchases, engaged in inventory reduction efforts, closed a number of our retail locations, reduced our headcount, and amended and replaced our credit facility.  Acquisitions remain an important strategy for us, and, subject to a number of conditions, including macro-economic conditions and finding attractive acquisition targets, we plan to explore opportunities through this strategy. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;"> </p>
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us-gaap Income Tax Expense Benefit
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CY2020Q1 us-gaap Number Of States In Which Entity Operates
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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates made by us in the accompanying unaudited condensed consolidated financial statements include valuation allowances, valuation of goodwill and intangible assets, valuation of long-lived assets, and valuation of accruals. Actual results could differ from those estimates.</p>
hzo Independent Recreational Boat Dealers In Number
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5
hzo Recreational Boat Dealers In Number
RecreationalBoatDealersInNumber
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hzo Boat Brokerage Operations Number
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3
hzo Full Service Yacht Repair Operations Number
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2
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
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As a practical expedient, since repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
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CY2020Q1 hzo Revenue From Contract With Customer Percentage
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hzo Revenue From Contract With Customer Percentage
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CY2020Q1 us-gaap Lessee Operating Lease Renewal Term
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P25Y
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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us-gaap Operating Lease Cost
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6700000
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9923000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8535000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4072000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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29111000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
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us-gaap Operating Lease Payments
OperatingLeasePayments
5152000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
817000
CY2019Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2200000
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3900000
hzo Inventory Financing Additional Available Borrowings
InventoryFinancingAdditionalAvailableBorrowings
26300000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
65100000
CY2019Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
164000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
164000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1900000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4900000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.263
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.253
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.256
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
0
CY2019Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
100000
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1800000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1000000.0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22836571
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21520215
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22807756
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21486995
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
581117
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
440070
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
601117
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
438110
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23417688
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21960285
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23408873
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21925105

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