$LOPE
Grand Canyon Education, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023017417 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $278.3M $221.9M
YoY Change 7.57% 6.32%
Cost Of Revenue $122.0M $113.0M
YoY Change 9.99% 7.74%
Gross Profit $156.3M $108.9M
YoY Change 5.75% 4.88%
Gross Profit Margin 56.17% 49.08%
Selling, General & Admin $56.40M $65.27M
YoY Change 2.51% -1.44%
% of Gross Profit 36.08% 59.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.664M $8.160M
YoY Change 10.52% 4.94%
% of Gross Profit 5.54% 7.49%
Operating Expenses $58.50M $65.27M
YoY Change 2.41% -1.44%
Operating Profit $97.80M $41.54M
YoY Change 7.85% 16.97%
Interest Expense $2.964M $1.000K
YoY Change 122.86% -99.87%
% of Operating Profit 3.03% 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $100.8M $44.28M
YoY Change 9.52% 22.12%
Income Tax $20.05M $8.537M
% Of Pretax Income 19.9% 19.28%
Net Earnings $80.71M $35.74M
YoY Change 13.63% 19.1%
Net Earnings / Revenue 29.0% 16.1%
Basic Earnings Per Share $1.20
Diluted Earnings Per Share $2.71 $1.19
COMMON SHARES
Basic Shares Outstanding 30.01M 30.27M
Diluted Shares Outstanding 29.91M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $244.5M $154.4M
YoY Change 34.56% 42.6%
Cash & Equivalents $146.5M $56.87M
Short-Term Investments $98.03M $97.55M
Other Short-Term Assets $12.89M $12.07M
YoY Change 13.38% 18.51%
Inventory
Prepaid Expenses
Receivables $78.81M $104.5M
Other Receivables $1.316M $3.770M
Total Short-Term Assets $337.5M $274.7M
YoY Change 23.51% 23.07%
LONG-TERM ASSETS
Property, Plant & Equipment $169.7M $164.6M
YoY Change 15.05% 13.64%
Goodwill $160.8M $160.8M
YoY Change 0.0% 0.0%
Intangibles $168.4M $170.5M
YoY Change -4.76% -4.71%
Long-Term Investments
YoY Change
Other Assets $1.641M $2.136M
YoY Change -2.73% 26.92%
Total Long-Term Assets $592.9M $588.4M
YoY Change 5.98% 4.83%
TOTAL ASSETS
Total Short-Term Assets $337.5M $274.7M
Total Long-Term Assets $592.9M $588.4M
Total Assets $930.5M $863.2M
YoY Change 11.73% 10.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.68M $23.70M
YoY Change -11.65% 25.85%
Accrued Expenses $26.73M $33.53M
YoY Change 18.92% 15.75%
Deferred Revenue $6.237M
YoY Change 2.21%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $97.03M $99.52M
YoY Change -2.68% 4.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $410.0K $416.0K
YoY Change -5.96% -5.88%
Total Long-Term Liabilities $410.0K $416.0K
YoY Change -5.96% -5.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $97.03M $99.52M
Total Long-Term Liabilities $410.0K $416.0K
Total Liabilities $212.4M $212.6M
YoY Change 8.88% 10.18%
SHAREHOLDERS EQUITY
Retained Earnings $2.245B $2.164B
YoY Change 10.05% 9.92%
Common Stock $323.1M $319.8M
YoY Change 4.26% 4.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $718.0M $650.5M
YoY Change
Total Liabilities & Shareholders Equity $930.5M $863.2M
YoY Change 11.73% 10.02%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $80.71M $35.74M
YoY Change 13.63% 19.1%
Depreciation, Depletion And Amortization $8.664M $8.160M
YoY Change 10.52% 4.94%
Cash From Operating Activities $116.4M -$29.85M
YoY Change 5.47% -16.19%
INVESTING ACTIVITIES
Capital Expenditures $10.44M $16.91M
YoY Change 15.55% -249.03%
Acquisitions
YoY Change
Other Investing Activities $497.0K -$5.565M
YoY Change -93.11% 27.75%
Cash From Investing Activities -$9.942M -$22.47M
YoY Change 445.96% 43.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.84M -33.73M
YoY Change -39.87% -30.01%
NET CHANGE
Cash From Operating Activities 116.4M -29.85M
Cash From Investing Activities -9.942M -22.47M
Cash From Financing Activities -16.84M -33.73M
Net Change In Cash 89.60M -86.05M
YoY Change 11.28% -13.53%
FREE CASH FLOW
Cash From Operating Activities $116.4M -$29.85M
Capital Expenditures $10.44M $16.91M
Free Cash Flow $105.9M -$46.76M
YoY Change 4.57% 92.63%

Facts In Submission

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ProfitLoss
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AllocatedShareBasedCompensationExpense
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AllocatedShareBasedCompensationExpense
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lope Depreciation And Amortization Excluding Intangible Assets
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lope Depreciation And Amortization Excluding Intangible Assets
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AmortizationOfIntangibleAssets
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DeferredIncomeTaxesAndTaxCredits
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OtherNoncashIncomeExpense
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OtherNoncashIncomeExpense
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IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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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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1404000
lope Increase Decrease In Operating Lease Liabilities Recognized In Exchange For Right Of Use Assets
IncreaseDecreaseInOperatingLeaseLiabilitiesRecognizedInExchangeForRightOfUseAssets
700000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
3894000
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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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2162000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-13058000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-8172000
lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
6237000
lope Increase Decrease In Contract With Customer Liability Excluding Student Deposits
IncreaseDecreaseInContractWithCustomerLiabilityExcludingStudentDeposits
6092000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
127277000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
110470000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
34186000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
26301000
lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
809000
lope Payments To Develop Education Resources
PaymentsToDevelopEducationResources
294000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
73462000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
132096000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
37927000
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
-70530000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-95318000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
120285000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
576206000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-120285000
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
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
27000
us-gaap Interest Paid Net
InterestPaidNet
5000
us-gaap Income Taxes Paid
IncomeTaxesPaid
47654000
us-gaap Income Taxes Paid
IncomeTaxesPaid
41118000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1827000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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lope Excise Tax Treasury Stock Repurchases
ExciseTaxTreasuryStockRepurchases
978000
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 six<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 September 30, 2023, GCE provides education services to </span>25<span style="white-space:pre-wrap;"> university partners across the United States. </span></p>
CY2023Q3 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 Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
7778000
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 September 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 September 30, 2023 and December 31, 2022, the Company had $56,119 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 87.0% and 84.9% of total service revenue for </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">the nine-month periods ended September 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>
CY2023Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
56119000
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>
CY2023Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
97553000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
61295000
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
98331000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
778000
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
97553000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-60000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-417000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
25659000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
39002000
CY2023Q3 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Two
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearTwo
24366000
CY2023Q3 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearThree
5844000
CY2023Q3 lope Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Four
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearFour
2682000
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
97553000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29776000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31302000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30138000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32623000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
136000
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
85000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
139000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
86000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29912000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31387000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30277000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32709000
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
328744000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
296529000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
164106000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
149025000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
164638000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
147504000
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
210280000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
39795000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
170485000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2104000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8419000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8419000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8419000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8419000
CY2023Q3 lope Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
134705000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
170485000
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3525000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2789000
us-gaap Operating Lease Cost
OperatingLeaseCost
9695000
us-gaap Operating Lease Cost
OperatingLeaseCost
7596000
CY2023Q3 lope Lessee Operating Lease Lease Not Yet Commenced Commitment Amount
LesseeOperatingLeaseLeaseNotYetCommencedCommitmentAmount
24077000
lope Number Of Off Campus Classroom And Laboratory Sites
NumberOfOffCampusClassroomAndLaboratorySites
4
CY2023Q3 lope Optical Fiber Communication Lines Not Yet Commenced
OpticalFiberCommunicationLinesNotYetCommenced
192000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y11M26D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0378
lope Number Of Financing Leases
NumberOfFinancingLeases
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2990000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
14102000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14015000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13992000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13385000
CY2023Q3 lope Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
54657000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
113141000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16622000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
96519000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9958000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9484000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2489000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2371000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7469000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7113000
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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