$LOPE
Grand Canyon Education, Inc.

2023 Q3 Form 10-Q Financial Statement

#000155837023013219 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $221.9M $210.6M
YoY Change 6.32% 5.42%
Cost Of Revenue $113.0M $111.3M
YoY Change 7.74% 6.85%
Gross Profit $108.9M $99.23M
YoY Change 4.88% 3.86%
Gross Profit Margin 49.08% 47.12%
Selling, General & Admin $65.27M $61.68M
YoY Change -1.44% 3.51%
% of Gross Profit 59.93% 62.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.160M $7.507M
YoY Change 4.94% -2.92%
% of Gross Profit 7.49% 7.57%
Operating Expenses $65.27M $63.79M
YoY Change -1.44% 7.04%
Operating Profit $41.54M $35.44M
YoY Change 16.97% 4.72%
Interest Expense $1.000K $2.583M
YoY Change -99.87% 51560.0%
% of Operating Profit 0.0% 7.29%
Other Income/Expense, Net
YoY Change
Pretax Income $44.28M $38.03M
YoY Change 22.12% 11.24%
Income Tax $8.537M $9.052M
% Of Pretax Income 19.28% 23.81%
Net Earnings $35.74M $28.97M
YoY Change 19.1% 13.34%
Net Earnings / Revenue 16.1% 13.76%
Basic Earnings Per Share $1.20 $0.96
Diluted Earnings Per Share $1.19 $0.96
COMMON SHARES
Basic Shares Outstanding 30.27M 30.73M
Diluted Shares Outstanding 29.91M 30.29M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.4M $233.4M
YoY Change 42.6% 14.81%
Cash & Equivalents $56.87M $142.9M
Short-Term Investments $97.55M $90.44M
Other Short-Term Assets $12.07M $12.46M
YoY Change 18.51% 4.8%
Inventory
Prepaid Expenses
Receivables $104.5M $24.68M
Other Receivables $3.770M $9.037M
Total Short-Term Assets $274.7M $279.5M
YoY Change 23.07% 11.89%
LONG-TERM ASSETS
Property, Plant & Equipment $164.6M $231.2M
YoY Change 13.64% 65.55%
Goodwill $160.8M $160.8M
YoY Change 0.0% 0.0%
Intangibles $170.5M $172.6M
YoY Change -4.71% -4.65%
Long-Term Investments
YoY Change
Other Assets $2.136M $2.157M
YoY Change 26.92% 17.1%
Total Long-Term Assets $588.4M $566.7M
YoY Change 4.83% 5.44%
TOTAL ASSETS
Total Short-Term Assets $274.7M $279.5M
Total Long-Term Assets $588.4M $566.7M
Total Assets $863.2M $846.2M
YoY Change 10.02% 7.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.70M $22.84M
YoY Change 25.85% 25.93%
Accrued Expenses $33.53M $68.42M
YoY Change 15.75% 107.47%
Deferred Revenue $6.237M $9.110M
YoY Change 2.21% -23.82%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $99.52M $100.4M
YoY Change 4.11% -3.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $416.0K $73.04M
YoY Change -5.88% 304229.17%
Total Long-Term Liabilities $416.0K $73.04M
YoY Change -5.88% 304229.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.52M $100.4M
Total Long-Term Liabilities $416.0K $73.04M
Total Liabilities $212.6M $200.8M
YoY Change 10.18% 11.14%
SHAREHOLDERS EQUITY
Retained Earnings $2.164B $2.128B
YoY Change 9.92% 9.78%
Common Stock $319.8M $316.5M
YoY Change 4.28% 4.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $650.5M $645.4M
YoY Change
Total Liabilities & Shareholders Equity $863.2M $846.2M
YoY Change 10.02% 7.48%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $35.74M $28.97M
YoY Change 19.1% 13.34%
Depreciation, Depletion And Amortization $8.160M $7.507M
YoY Change 4.94% -2.92%
Cash From Operating Activities -$29.85M $94.13M
YoY Change -16.19% 24.13%
INVESTING ACTIVITIES
Capital Expenditures $16.91M $9.256M
YoY Change -249.03% -210.57%
Acquisitions
YoY Change
Other Investing Activities -$5.565M -$1.667M
YoY Change 27.75% 8.74%
Cash From Investing Activities -$22.47M -$10.92M
YoY Change 43.13% 10.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.73M -45.32M
YoY Change -30.01% -64.72%
NET CHANGE
Cash From Operating Activities -29.85M 94.13M
Cash From Investing Activities -22.47M -10.92M
Cash From Financing Activities -33.73M -45.32M
Net Change In Cash -86.05M 37.88M
YoY Change -13.53% -160.58%
FREE CASH FLOW
Cash From Operating Activities -$29.85M $94.13M
Capital Expenditures $16.91M $9.256M
Free Cash Flow -$46.76M $84.87M
YoY Change 92.63% 0.8%

Facts In Submission

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AllocatedShareBasedCompensationExpense
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lope Depreciation And Amortization Excluding Intangible Assets
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10939000
lope Depreciation And Amortization Excluding Intangible Assets
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AmortizationOfIntangibleAssets
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OtherNoncashIncomeExpense
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OtherNoncashIncomeExpense
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1332000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3171000
lope Increase Decrease In Operating Lease Liabilities Recognized In Exchange For Right Of Use Assets
IncreaseDecreaseInOperatingLeaseLiabilitiesRecognizedInExchangeForRightOfUseAssets
787000
lope Increase Decrease In Operating Lease Liabilities Recognized In Exchange For Right Of Use Assets
IncreaseDecreaseInOperatingLeaseLiabilitiesRecognizedInExchangeForRightOfUseAssets
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us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
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us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-6285000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-460000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5568000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-18341000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-13555000
lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
9110000
lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
11948000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
157128000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17599000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
15136000
lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
488000
lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
114000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
73807000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
43837000
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
-48057000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-79617000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
86555000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-86555000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22516000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-461540000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120409000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
600941000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139401000
us-gaap Interest Paid Net
InterestPaidNet
26000
us-gaap Interest Paid Net
InterestPaidNet
5000
us-gaap Income Taxes Paid
IncomeTaxesPaid
42460000
us-gaap Income Taxes Paid
IncomeTaxesPaid
38841000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1644000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1654000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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503000
lope Excise Tax Treasury Stock Repurchases
ExciseTaxTreasuryStockRepurchases
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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 four<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;"><span style="white-space:pre-wrap;">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 (the “Acquisition”). Since the Acquisition, GCE, together with Orbis Education, has continued to add additional university partners. In the healthcare field, we work 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. In addition, we have provided certain services to a university partner to assist them in expanding their online graduate programs. As of June 30, 2023, GCE provides education services to </span>25<span style="white-space:pre-wrap;"> university partners across the United States. </span></p>
CY2023Q2 lope Number Of University Service Partners
NumberOfUniversityServicePartners
25
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-157000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
5525000
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
5560000
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;">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 at least one major rating agency at the time of purchase. All of the Company’s cash equivalents and investments as of June 30, 2023 and December 31, 2022 consist of investments rated BBB or higher by at least one rating agency. Additionally, the Company utilizes at least 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. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash balances, which are primarily invested in money market funds or on deposit at high credit quality financial institutions in the U.S. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At June 30, 2023 and December 31, 2022, the Company had $142,172 and $119,639, respectively, in excess of the FDIC insured limit. The Company is also subject to credit risk for its accounts receivable balance. Our dependence on our most significant university partner, with 87.2% and 85.1% of total service revenue for </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">the three-month periods ended June 30, 2023 and 2022, respectively, subjects us to the risk that declines in our customer’s operations would result in a sustained reduction in service revenue for the Company.</p>
CY2023Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
142172000
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
119639000
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>
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
90444000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
61295000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
91350000
us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
1000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
907000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
90444000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-398000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
33545000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
41526000
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DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearTwo
14422000
CY2023Q2 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearThree
951000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
90444000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30183000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31800000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30321000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33295000
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
104000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
77000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
141000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
86000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30287000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31877000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30462000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33381000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
313127000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
296529000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
158418000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
149025000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
154709000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
147504000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210280000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
37690000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
172590000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4209000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8419000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8419000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8419000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8419000
CY2023Q2 lope Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
134705000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
172590000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
us-gaap Operating Lease Cost
OperatingLeaseCost
6170000
us-gaap Operating Lease Cost
OperatingLeaseCost
4807000
CY2023Q2 lope Lessee Operating Lease Lease Not Yet Commenced Commitment Amount
LesseeOperatingLeaseLeaseNotYetCommencedCommitmentAmount
26805000
lope Number Of Off Campus Classroom And Laboratory Sites
NumberOfOffCampusClassroomAndLaboratorySites
7
CY2023Q2 lope Optical Fiber Communication Lines Not Yet Commenced
OpticalFiberCommunicationLinesNotYetCommenced
192000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y11M4D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0347
lope Number Of Financing Leases
NumberOfFinancingLeases
0
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5527000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12154000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11904000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11867000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11280000
CY2023Q2 lope Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
41746000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
94478000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12523000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
81955000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6622000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6361000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1656000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1590000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4966000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4771000
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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