$LOPE
Grand Canyon Education, Inc.

2019 Q2 Form 10-Q Financial Statement

#000155837019007238 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $174.8M $236.8M
YoY Change -26.18% 8.48%
Cost Of Revenue $102.2M
YoY Change 7.58%
Gross Profit $134.6M
YoY Change 9.16%
Gross Profit Margin 56.84%
Selling, General & Admin $44.94M $35.86M
YoY Change 25.34% 191.0%
% of Gross Profit 26.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.900M $14.10M
YoY Change -51.06% 3.68%
% of Gross Profit 10.48%
Operating Expenses $44.94M $35.86M
YoY Change 25.34% 191.0%
Operating Profit $50.99M $58.49M
YoY Change -12.81% 6.17%
Interest Expense $2.907M $57.00K
YoY Change 5000.0% -88.48%
% of Operating Profit 5.7% 0.1%
Other Income/Expense, Net
YoY Change
Pretax Income $65.24M $60.00M
YoY Change 8.73% 8.43%
Income Tax $14.13M $13.96M
% Of Pretax Income 21.65% 23.27%
Net Earnings $51.11M $46.04M
YoY Change 11.02% 15.54%
Net Earnings / Revenue 29.24% 19.44%
Basic Earnings Per Share $1.07 $0.97
Diluted Earnings Per Share $1.06 $0.95
COMMON SHARES
Basic Shares Outstanding 47.85M 47.60M
Diluted Shares Outstanding 48.31M 48.41M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00M $298.2M
YoY Change -73.17% 91.52%
Cash & Equivalents $65.80M $221.6M
Short-Term Investments $14.20M $76.50M
Other Short-Term Assets $11.33M $8.748M
YoY Change 29.49% -60.52%
Inventory
Prepaid Expenses
Receivables $13.66M $0.00
Other Receivables $3.400M $300.0K
Total Short-Term Assets $108.7M $1.282B
YoY Change -91.52% 369.83%
LONG-TERM ASSETS
Property, Plant & Equipment $116.8M $112.2M
YoY Change 4.09% -87.37%
Goodwill $160.9M $2.941M
YoY Change 5369.94% 0.0%
Intangibles $206.4M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.940M $657.0K
YoY Change 195.28% -62.59%
Total Long-Term Assets $1.569B $118.4M
YoY Change 1225.03% -86.78%
TOTAL ASSETS
Total Short-Term Assets $108.7M $1.282B
Total Long-Term Assets $1.569B $118.4M
Total Assets $1.678B $1.400B
YoY Change 19.83% 19.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.27M $35.44M
YoY Change -48.45% 57.61%
Accrued Expenses $16.93M $19.00M
YoY Change -10.85% -7.97%
Deferred Revenue $10.04M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $48.40M $6.600M
YoY Change 633.33% -1.49%
Total Short-Term Liabilities $113.3M $223.8M
YoY Change -49.4% 9.26%
LONG-TERM LIABILITIES
Long-Term Debt $207.9M $56.60M
YoY Change 267.31% -10.58%
Other Long-Term Liabilities $10.80M $0.00
YoY Change -100.0%
Total Long-Term Liabilities $218.7M $56.60M
YoY Change 286.4% 3849.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $113.3M $223.8M
Total Long-Term Liabilities $218.7M $56.60M
Total Liabilities $349.7M $299.7M
YoY Change 16.7% 1.12%
SHAREHOLDERS EQUITY
Retained Earnings $1.207B $972.9M
YoY Change 24.02% 30.3%
Common Stock $265.9M $241.7M
YoY Change 10.03% 7.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $143.9M $113.8M
YoY Change 26.51% 14.85%
Treasury Stock Shares $4.682M 4.295M shares
Shareholders Equity $1.328B $1.100B
YoY Change
Total Liabilities & Shareholders Equity $1.678B $1.400B
YoY Change 19.83% 19.8%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $51.11M $46.04M
YoY Change 11.02% 15.54%
Depreciation, Depletion And Amortization $6.900M $14.10M
YoY Change -51.06% 3.68%
Cash From Operating Activities $113.0M -$63.20M
YoY Change -278.8% -363.33%
INVESTING ACTIVITIES
Capital Expenditures -$145.1M -$43.90M
YoY Change 230.52% 44.88%
Acquisitions
YoY Change
Other Investing Activities $100.0K $14.90M
YoY Change -99.33% -291.03%
Cash From Investing Activities -$144.9M -$28.90M
YoY Change 401.38% -24.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.200M -1.900M
YoY Change -584.21% -311.11%
NET CHANGE
Cash From Operating Activities 113.0M -63.20M
Cash From Investing Activities -144.9M -28.90M
Cash From Financing Activities 9.200M -1.900M
Net Change In Cash -22.70M -94.00M
YoY Change -75.85% 612.12%
FREE CASH FLOW
Cash From Operating Activities $113.0M -$63.20M
Capital Expenditures -$145.1M -$43.90M
Free Cash Flow $258.1M -$19.30M
YoY Change -1437.31% -135.54%

Facts In Submission

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CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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ProvisionForDoubtfulAccounts
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lope Depreciation And Amortization Excluding Intangible Assets
DepreciationAndAmortizationExcludingIntangibleAssets
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lope Depreciation And Amortization Excluding Intangible Assets
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Deferred Income Taxes And Tax Credits
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lope Gain Loss On Transaction Net Of Costs And Asset Impairment
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lope Gain Loss On Transaction Net Of Costs And Asset Impairment
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
6880000
lope Increase Decrease In Contract With Customer Liability Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityStudentDeposits
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
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PaymentsToAcquireBusinessesNetOfCashAcquired
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LoansForFundingOfCapitalExpenditure
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PaymentsToAcquireMarketableSecurities
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PaymentsToAcquireMarketableSecurities
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ProceedsFromSaleAndMaturityOfMarketableSecurities
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ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
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us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Proceeds From Repayments Of Lines Of Credit
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14728000
lope Reclassification Of Restricted Cash To Assets Held For Sale
ReclassificationOfRestrictedCashToAssetsHeldForSale
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26376000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid
IncomeTaxesPaid
35114000
us-gaap Income Taxes Paid
IncomeTaxesPaid
44234000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
914000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
14361000
lope Reclassification Of Capitalized Costs Due To Adoption Of Asc606
ReclassificationOfCapitalizedCostsDueToAdoptionOfASC606
9015000
lope Reclassification Of Deferred Revenue Due To Adoption Of Asc606
ReclassificationOfDeferredRevenueDueToAdoptionOfASC606
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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lope Reclassification Of Tax Effect Within Accumulated Other Comprehensive Income
ReclassificationOfTaxEffectWithinAccumulatedOtherComprehensiveIncome
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us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. Nature of Business</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Grand Canyon Education, <span style="white-space:pre-wrap;">Inc. (together with its subsidiaries, the “Company” or “GCE”) is a publicly traded education services company. Prior to July 1, 2018, GCE owned and operated Grand Canyon University (the “University”), a comprehensive regionally accredited university that offers graduate and undergraduate degree programs, emphases and certificates across </span>nine colleges both online and on ground at its campus in Phoenix, Arizona, at leased facilities and at facilities owned by third party employers of its students. On July <span style="white-space:pre-wrap;">1, 2018, the Company sold the University to Grand Canyon University, an Arizona non-profit corporation formerly known as Gazelle University (“GCU”). As a result of this transaction (the “Transaction”), GCE became an educational services company focused on providing a full array of support services to institutions in the post-secondary education sector. GCE has developed significant technological solutions, infrastructure and operational processes to provide services to these institutions on a large scale. See Note 2 to our consolidated financial statements for a full description of the Transaction.</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On December 17, 2018, the Company entered into a definitive Agreement and Plan of Merger to acquire Orbis Education Services, LLC (“Orbis Education”). Orbis Education is an education services company that supports healthcare education programs for 18 university partners across the United States. The closing of the merger occurred on January 22, 2019 and, as a result of the merger, GCE acquired all of the outstanding equity interests of Orbis Education for $361,184<span style="white-space:pre-wrap;">, net of cash acquired (the “Acquisition”). The Company financed a portion of the purchase price through a credit facility provided by a consortium of banks led by our existing bank group. See Note 3 to our consolidated financial statement for a full description of the Acquisition.</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As a result of the Transaction and Acquisition, the Company no longer owns and operates an institution of higher education, but instead provides a bundle of services in support of its 19<span style="white-space:pre-wrap;"> university partners. </span></p>
CY2019Q2 lope Number Of Colleges
NumberOfColleges
9
CY2019Q2 lope Number Of University Service Partners
NumberOfUniversityServicePartners
19
lope Loss On Transaction
LossOnTransaction
1990000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
174820000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
236818000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
372107000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
512499000
CY2019Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
174820000
CY2018Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
251784000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
375357000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
541039000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
51112000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
46038000
us-gaap Net Income Loss
NetIncomeLoss
124355000
us-gaap Net Income Loss
NetIncomeLoss
119719000
CY2019Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
51112000
CY2018Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
42128000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
113110000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
105848000
CY2019Q2 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
0
CY2018Q1 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
101176000
CY2018Q1 lope Revenue From Contract With Customer Excluding Assessed Tax Before Revenue Reduction Adjustments
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613675000
CY2018Q1 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
101176000
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
512499000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2019Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1554000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;">The Company believes the credit risk related to cash equivalents and investments is limited due to its adherence to an investment policy that requires investments to have a minimum BBB rating, depending on the type of security, by one major rating agency at the time of purchase. All of the Company’s cash equivalents and investments as of June 30, 2019 and December 31, 2018 consist of investments rated BBB or higher by at least one rating agency. Additionally, the Company utilizes more than one financial institution to conduct initial and ongoing credit analysis on its investment portfolio to monitor and lower the potential impact of market risk associated with its cash equivalents and investment portfolio. The Company is also subject to credit risk for its accounts receivable balance. The Company has not </p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt 0pt 12pt 0pt;">experienced any losses on receivables since July 1, 2018, the date the Company transitioned to an educational service provider. To manage accounts receivable risk, the Company maintains an allowance for doubtful accounts, if needed. Our dependence on our largest university partner subjects us to the risk that declines in our customer’s operations would result in a sustained reduction in revenues for the Company.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</p>
CY2019Q2 lope Number Of University Service Partners
NumberOfUniversityServicePartners
19
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
498000
CY2019Q1 lope Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Right Of Use Assets Acquired
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAssetsAcquired
13069000
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation
13069000
us-gaap Lease Practical Expedient Use Of Hindsight
LeasePracticalExpedientUseOfHindsight
true
us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2019Q2 us-gaap Trading Securities Debt
TradingSecuritiesDebt
14205000
CY2018Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
69002000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47851000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47604000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47788000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47537000
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
462000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
807000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
519000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
885000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48313000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48411000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48307000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48422000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5907000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8669000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8483000
CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6093000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
205208000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
200728000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
88436000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
89689000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
116772000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111039000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210280000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3865000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
206415000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
us-gaap Operating Lease Expense
OperatingLeaseExpense
1507000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
781000
CY2019Q2 lope Lessee Operating Lease Lease Not Yet Commenced Commitment Amount
LesseeOperatingLeaseLeaseNotYetCommencedCommitmentAmount
2193000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
lope Number Of Financing Leases
NumberOfFinancingLeases
0
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1655000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2824000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2680000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2453000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1703000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3909000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15224000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2183000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13041000
CY2019Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
59850000
CY2019Q1 lope Cash Collateral Released On Repayment Of Debt
CashCollateralReleasedOnRepaymentOfDebt
61667000
CY2019Q1 us-gaap Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
-7500000
CY2019Q1 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
-5925000
CY2019Q2 us-gaap Share Price
SharePrice
117.02
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5185000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6734000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1296000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1683000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3889000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5051000

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