$LOPE
Grand Canyon Education, Inc.

2019 Q3 Form 10-Q Financial Statement

#000155837019010167 Filed on November 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $193.3M $155.5M
YoY Change 24.34% -34.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $50.90M $41.64M
YoY Change 22.23% 14.16%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.800M $3.800M
YoY Change 78.95% -72.06%
% of Gross Profit
Operating Expenses $50.90M $41.64M
YoY Change 22.23% 14.16%
Operating Profit $59.73M $29.42M
YoY Change 103.04% -50.71%
Interest Expense $2.875M $558.0K
YoY Change 415.23% -1.59%
% of Operating Profit 4.81% 1.9%
Other Income/Expense, Net
YoY Change
Pretax Income $73.32M $42.48M
YoY Change 72.6% -29.86%
Income Tax $15.17M $8.720M
% Of Pretax Income 20.69% 20.53%
Net Earnings $58.15M $33.76M
YoY Change 72.24% -14.1%
Net Earnings / Revenue 30.09% 21.72%
Basic Earnings Per Share $1.21 $0.71
Diluted Earnings Per Share $1.20 $0.70
COMMON SHARES
Basic Shares Outstanding 47.92M 47.68M
Diluted Shares Outstanding 48.34M 48.42M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.9M $113.6M
YoY Change 17.87% -57.89%
Cash & Equivalents $119.7M $44.88M
Short-Term Investments $14.20M $68.80M
Other Short-Term Assets $11.26M $8.607M
YoY Change 30.77% -65.16%
Inventory
Prepaid Expenses
Receivables $83.38M $65.12M
Other Receivables $8.700M $6.200M
Total Short-Term Assets $237.5M $255.2M
YoY Change -6.92% -34.03%
LONG-TERM ASSETS
Property, Plant & Equipment $118.6M $110.9M
YoY Change 6.97% -87.64%
Goodwill $160.9M $2.941M
YoY Change 5369.94% 0.0%
Intangibles $204.2M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.742M $743.0K
YoY Change 134.45% -3.0%
Total Long-Term Assets $1.523B $997.5M
YoY Change 52.7% 10.33%
TOTAL ASSETS
Total Short-Term Assets $237.5M $255.2M
Total Long-Term Assets $1.523B $997.5M
Total Assets $1.761B $1.253B
YoY Change 40.55% -2.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.74M $17.00M
YoY Change 22.04% -38.25%
Accrued Expenses $18.95M $13.51M
YoY Change 40.23% -41.72%
Deferred Revenue $9.201M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $45.30M $6.600M
YoY Change 586.36% -1.49%
Total Short-Term Liabilities $124.0M $54.94M
YoY Change 125.75% -80.73%
LONG-TERM LIABILITIES
Long-Term Debt $211.1M $55.00M
YoY Change 283.82% -10.71%
Other Long-Term Liabilities $16.00K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $16.00K $55.00M
YoY Change -99.97% 4001.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $124.0M $54.94M
Total Long-Term Liabilities $16.00K $55.00M
Total Liabilities $378.8M $114.3M
YoY Change 231.35% -69.53%
SHAREHOLDERS EQUITY
Retained Earnings $1.265B $1.007B
YoY Change 25.63% 28.08%
Common Stock $268.8M $252.4M
YoY Change 6.52% 9.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.9M $120.0M
YoY Change 25.75% 21.13%
Treasury Stock Shares $4.747M 4.436M shares
Shareholders Equity $1.382B $1.138B
YoY Change
Total Liabilities & Shareholders Equity $1.761B $1.253B
YoY Change 40.55% -2.96%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $58.15M $33.76M
YoY Change 72.24% -14.1%
Depreciation, Depletion And Amortization $6.800M $3.800M
YoY Change 78.95% -72.06%
Cash From Operating Activities $5.800M $40.70M
YoY Change -85.75% -70.12%
INVESTING ACTIVITIES
Capital Expenditures -$5.500M -$155.6M
YoY Change -96.47% 500.77%
Acquisitions
YoY Change
Other Investing Activities $60.20M $7.400M
YoY Change 713.51% 1380.0%
Cash From Investing Activities $54.70M -$148.3M
YoY Change -136.88% 483.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.500M -7.600M
YoY Change -14.47% 850.0%
NET CHANGE
Cash From Operating Activities 5.800M 40.70M
Cash From Investing Activities 54.70M -148.3M
Cash From Financing Activities -6.500M -7.600M
Net Change In Cash 54.00M -115.2M
YoY Change -146.88% -204.73%
FREE CASH FLOW
Cash From Operating Activities $5.800M $40.70M
Capital Expenditures -$5.500M -$155.6M
Free Cash Flow $11.30M $196.3M
YoY Change -94.24% 21.1%

Facts In Submission

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GRAND CANYON EDUCATION, INC.
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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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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
182506000
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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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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lope Depreciation And Amortization Excluding Intangible Assets
DepreciationAndAmortizationExcludingIntangibleAssets
13821000
lope Depreciation And Amortization Excluding Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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lope Gain Loss On Transaction Net Of Costs And Asset Impairment
GainLossOnTransactionNetOfCostsAndAssetImpairment
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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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IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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lope Accounts Receivable Related To University Operations
AccountsReceivableRelatedToUniversityOperations
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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lope Increase Decrease In Operating Lease Liabilities Recognized In Exchange For Right Of Use Assets
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-5597000
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IncreaseDecreaseInAccruedIncomeTaxesPayable
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lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
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lope Increase Decrease In Contract With Customer Liability Student Deposits
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-7288000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
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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
361184000
lope Payments Related To Disposition Of Productive Assets
PaymentsRelatedToDispositionOfProductiveAssets
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lope Payments Of Funding At Closing In Excess Of Required Capital
PaymentsOfFundingAtClosingInExcessOfRequiredCapital
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LoansForFundingOfCapitalExpenditure
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lope Loans For Funding Of Capital Expenditure
LoansForFundingOfCapitalExpenditure
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lope Repayment Of Notes Receivable Additional Funding For Capital Expenditures
RepaymentOfNotesReceivableAdditionalFundingForCapitalExpenditures
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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PaymentsToAcquireMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-431110000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-215729000
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
ProceedsFromRepaymentsOfLinesOfCredit
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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
3736000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2095000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
173972000
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NetCashProvidedByUsedInFinancingActivities
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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
-141462000
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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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120009000
CY2018Q3 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
738000
us-gaap Income Taxes Paid
IncomeTaxesPaid
45786000
us-gaap Income Taxes Paid
IncomeTaxesPaid
69161000
lope Sale Transaction To Affiliates Through Secured Note Financing
SaleTransactionToAffiliatesThroughSecuredNoteFinancing
870097000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1796000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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lope Reclassification Of Capitalized Costs Due To Adoption Of Asc606
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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
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<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 January 22, 2019, GCE acquired, by merger, all of the outstanding equity interest of Orbis Education Services, LLC (“Orbis Education”), an education services company that supports healthcare education programs for 21 university partners across the United States, 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 21<span style="white-space:pre-wrap;"> university partners. </span></p>
CY2019Q3 lope Number Of Colleges
NumberOfColleges
9
CY2019Q3 lope Number Of University Service Partners
NumberOfUniversityServicePartners
21
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193289000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155454000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
565396000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
667953000
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
193289000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
171265000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
568646000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
712304000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
58151000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
33761000
us-gaap Net Income Loss
NetIncomeLoss
182506000
us-gaap Net Income Loss
NetIncomeLoss
153480000
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
58151000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
29886000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
171261000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
130713000
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CapitalizedContractCostGross
0
lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
101176000
lope Revenue From Contract With Customer Excluding Assessed Tax Before Revenue Reduction Adjustments
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613675000
lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
101176000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
512499000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2019Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
5059000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
484000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
837000
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
740000
CY2019Q3 us-gaap Trading Securities Debt
TradingSecuritiesDebt
14152000
CY2018Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
69002000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47920000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47682000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47833000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47592000
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
417000
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 0pt 12pt 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 September 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 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>
CY2019Q3 lope Number Of University Service Partners
NumberOfUniversityServicePartners
21
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
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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48337000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48422000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48317000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48429000
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
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-6093000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
916000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
210916000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
200728000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
92279000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
89689000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
118637000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111039000
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210280000
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6044000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
204236000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
us-gaap Operating Lease Expense
OperatingLeaseExpense
2681000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
827000
CY2019Q3 lope Lessee Operating Lease Lease Not Yet Commenced Commitment Amount
LesseeOperatingLeaseLeaseNotYetCommencedCommitmentAmount
14116000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y5M15D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.043
lope Number Of Financing Leases
NumberOfFinancingLeases
0
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3651000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4462000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4302000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3719000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
17087000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
34137000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5988000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
28149000
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
CY2019Q3 lope Number Of New Nonemployee Directors
NumberOfNewNonemployeeDirectors
2
CY2019Q2 us-gaap Share Price
SharePrice
98.20
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7740000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17066000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1935000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4267000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5805000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
12799000

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