$LOPE
Grand Canyon Education, Inc.

2021 Q1 Form 10-Q Financial Statement

#000155837021005916 Filed on May 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $236.9M $221.7M
YoY Change 6.89% 12.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $57.31M $52.26M
YoY Change 9.67% 10.33%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.500M $7.100M
YoY Change 5.63% 16.39%
% of Gross Profit
Operating Expenses $57.31M $52.26M
YoY Change 9.67% 10.33%
Operating Profit $84.23M $80.80M
YoY Change 4.25% 11.55%
Interest Expense $799.0K $1.546M
YoY Change -48.32% -40.22%
% of Operating Profit 0.95% 1.91%
Other Income/Expense, Net
YoY Change
Pretax Income $98.10M $94.18M
YoY Change 4.16% 11.19%
Income Tax $19.99M $22.79M
% Of Pretax Income 20.37% 24.2%
Net Earnings $78.11M $71.39M
YoY Change 9.42% -2.54%
Net Earnings / Revenue 32.97% 32.21%
Basic Earnings Per Share $1.70 $1.50
Diluted Earnings Per Share $1.69 $1.49
COMMON SHARES
Basic Shares Outstanding 46.08M 47.46M
Diluted Shares Outstanding 46.30M 47.76M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.3M $149.5M
YoY Change 75.45% 45.57%
Cash & Equivalents $225.8M $132.5M
Short-Term Investments $36.40M $17.00M
Other Short-Term Assets $14.48M $14.70M
YoY Change -1.44% 16.63%
Inventory
Prepaid Expenses
Receivables $91.79M $77.39M
Other Receivables $5.800M $6.700M
Total Short-Term Assets $374.3M $248.3M
YoY Change 50.74% 25.29%
LONG-TERM ASSETS
Property, Plant & Equipment $131.9M $121.3M
YoY Change 8.72% -6.22%
Goodwill $160.8M $160.8M
YoY Change 0.0%
Intangibles $191.5M $200.0M
YoY Change -4.21%
Long-Term Investments
YoY Change
Other Assets $2.133M $1.754M
YoY Change 21.61% -12.3%
Total Long-Term Assets $1.511B $1.483B
YoY Change 1.85% 4.36%
TOTAL ASSETS
Total Short-Term Assets $374.3M $248.3M
Total Long-Term Assets $1.511B $1.483B
Total Assets $1.885B $1.732B
YoY Change 8.86% 6.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.22M $19.22M
YoY Change -10.39% 44.53%
Accrued Expenses $29.50M $20.94M
YoY Change 40.83% -41.17%
Deferred Revenue $6.936M $8.173M
YoY Change -15.14%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $33.10M $33.10M
YoY Change 0.0% -31.61%
Total Short-Term Liabilities $152.8M $133.1M
YoY Change 14.82% 5.62%
LONG-TERM LIABILITIES
Long-Term Debt $66.30M $99.50M
YoY Change -33.37% -50.25%
Other Long-Term Liabilities $107.0K $11.00K
YoY Change 872.73% -99.9%
Total Long-Term Liabilities $107.0K $11.00K
YoY Change 872.73% -99.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.8M $133.1M
Total Long-Term Liabilities $107.0K $11.00K
Total Liabilities $296.3M $283.6M
YoY Change 4.5% -18.18%
SHAREHOLDERS EQUITY
Retained Earnings $1.673B $1.409B
YoY Change 18.73%
Common Stock $281.7M $274.2M
YoY Change 2.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $365.7M $235.1M
YoY Change 55.58%
Treasury Stock Shares $7.251M $5.808M
Shareholders Equity $1.589B $1.448B
YoY Change
Total Liabilities & Shareholders Equity $1.885B $1.732B
YoY Change 8.86% 6.92%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $78.11M $71.39M
YoY Change 9.42% -2.54%
Depreciation, Depletion And Amortization $7.500M $7.100M
YoY Change 5.63% 16.39%
Cash From Operating Activities $89.83M $85.72M
YoY Change 4.79% 12.29%
INVESTING ACTIVITIES
Capital Expenditures -$9.000M -$6.100M
YoY Change 47.54% -82.37%
Acquisitions
YoY Change
Other Investing Activities -$25.80M $4.300M
YoY Change -700.0% -101.4%
Cash From Investing Activities -$34.82M -$1.878M
YoY Change 1754.05% -99.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $69.34M $65.71M
YoY Change 5.53% 262.48%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -74.95M -73.92M
YoY Change 1.39% -143.16%
NET CHANGE
Cash From Operating Activities 89.83M 85.72M
Cash From Investing Activities -34.82M -1.878M
Cash From Financing Activities -74.95M -73.92M
Net Change In Cash -19.94M 9.921M
YoY Change -300.99% -110.64%
FREE CASH FLOW
Cash From Operating Activities $89.83M $85.72M
Capital Expenditures -$9.000M -$6.100M
Free Cash Flow $98.83M $91.82M
YoY Change 7.63% -17.23%

Facts In Submission

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CY2021Q1 lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
90000
CY2020Q1 lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
56000
CY2021Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
31337000
CY2021Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
5519000
CY2020Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
4263000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34819000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1878000
CY2021Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
8286000
CY2020Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
8286000
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
69342000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
65706000
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2680000
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
72000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-74948000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-73920000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9921000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
245769000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122572000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
225829000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
132493000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
895000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
1546000
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
230000
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
250000
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
876000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
899000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6775000
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. Nature of Business</p><p style="font-family:'Times New Roman','Times','serif';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 dedicated to serving colleges and universities. GCE has developed significant technological solutions, infrastructure and operational processes to provide services to these institutions on a large scale. GCE’s most significant university partner is Grand Canyon University (“GCU”), an Arizona non-profit corporation, a comprehensive regionally accredited university that offers graduate and undergraduate degree programs, emphases and certificates across </span>nine colleges both online, on ground at its campus in Phoenix, Arizona and at two<span style="white-space:pre-wrap;"> off-campus classroom and laboratory sites. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In January 2019, GCE began providing education services to numerous university partners across the United States, through our wholly owned subsidiary, Orbis Education, which we acquired, by merger on January 22, 2019 for $361,184<span style="white-space:pre-wrap;">, net of cash acquired (the “Acquisition”). In the healthcare field, GCE, together with Orbis Education, works in partnership with a growing number of top universities and healthcare networks across the country, offering healthcare-related academic programs at off-campus classroom and laboratory sites located near healthcare providers and developing high-quality, career-ready graduates who enter the workforce ready to meet the demands of the healthcare industry.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As of March 31, 2021, GCE provides education services to 26<span style="white-space:pre-wrap;"> university partners across the United States. </span></p>
CY2021Q1 lope Number Of University Service Partners
NumberOfUniversityServicePartners
26
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q1 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2021Q1 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
1045591000
CY2020Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
1049458000
CY2020Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
964912000
CY2021Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
964912000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
10132000
CY2020Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
294000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Allowance for Credit Losses</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">The Company records its accounts receivable and Secured Note receivable at the net amount expected to be collected. Our accounts receivable are derived through education services provided to university partners. Our Secured Note receivable was derived through the sale of university related assets to our most significant university partner, GCU. The Company maintains an allowance for credit losses resulting from our university partners not making payments. The Company determines the adequacy of the allowance by periodically evaluating each university partners balance, considering their financial condition and credit history, and considering current and forecasted economic conditions. Since our transition to an education services company on July 1, 2018, and continued growth to </span>26 university partners, the Company has no credit losses with any of our university partners. In the first quarter of 2020, the Company adopted ASU 2016-13, <i style="font-style:italic;">Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments </i><span style="white-space:pre-wrap;">using a modified retrospective approach. This model requires consideration of a broader range of reasonable and supportable information and requires the Company to estimate expected credit losses including a measure of the expected risk of credit loss even if that risk is remote over the lifetime of the asset. Upon adoption, the Company recorded a reserve of </span>$5,000<span style="white-space:pre-wrap;"> on its long-term Secured Note receivable. The cumulative effect for the Company upon adoption of this new standard was </span>$3,832, net of taxes of $1,168<span style="white-space:pre-wrap;">. Bad debt expense is recorded as a technology and academic services expense in the consolidated income statements. The Company will continue to actively monitor the impact of the COVID-19 pandemic on expected credit losses.</span></p>
CY2021Q1 lope Number Of University Service Partners
NumberOfUniversityServicePartners
26
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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 March 31, 2021 and December <span style="white-space:pre-wrap;">31, 2020 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 and its Secured Note. 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. The Company monitors the credit risk exposure of the counterparty of the Secured Note to determine whether an adjustment to allowance for credit loss is necessary. A significant deterioration in the financial viability of our counterparty and corresponding decline in the fair value of the collateralized assets could impact the collectability risk of the Secured Note. Our dependence on our most significant university partner, which is also the counterparty to the Secured Note, with </span>87.4% and 87.9% of total service revenue for the three-month periods ended March 31, 2021 and 2020, respectively, subjects us to the risk that declines in our customer’s operations would result in a sustained reduction in service revenue and interest income on the Secured Note for the Company.</p>
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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>
CY2021Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
8015000
CY2020Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
10840000
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28428000
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
28583000
CY2021Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
9000
CY2021Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
164000
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28428000
CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-120000
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2302000
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
9153000
CY2021Q1 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Two
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearTwo
4041000
CY2021Q1 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearThree
3338000
CY2021Q1 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Four
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearFour
1019000
CY2021Q1 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year Four
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearFour
8575000
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28428000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46084000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47455000
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
216000
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
309000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46300000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47764000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5000000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5000000
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5000000
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5000000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
250182000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
241610000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
118253000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
112953000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
131929000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
128657000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210280000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18747000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
191533000
CY2021Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2435000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1441000
CY2021Q1 lope Lessee Operating Lease Lease Not Yet Commenced Commitment Amount
LesseeOperatingLeaseLeaseNotYetCommencedCommitmentAmount
0
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M9D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0321
CY2021Q1 lope Number Of Financing Leases
NumberOfFinancingLeases
0
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7092000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8992000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8469000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7967000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7645000
CY2021Q1 lope Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
31106000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
71271000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8688000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
62583000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3019000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2656000
CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
755000
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
664000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2264000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1992000

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