2023 Q2 Form 10-Q Financial Statement

#000095017023016884 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $236.9M $226.0M
YoY Change 5.21% 2.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $189.0M $180.4M
YoY Change 8.79% 8.12%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.51M $15.38M
YoY Change 25.11% 18.9%
% of Gross Profit
Operating Expenses $189.0M $180.4M
YoY Change 10.6% 7.7%
Operating Profit $52.63M $45.58M
YoY Change -3.1% -12.23%
Interest Expense -$18.30M $17.75M
YoY Change -308.8% 117.34%
% of Operating Profit -34.76% 38.94%
Other Income/Expense, Net -$18.30M -$17.75M
YoY Change 108.8% 117.34%
Pretax Income $34.34M $27.83M
YoY Change -24.62% -36.41%
Income Tax $7.205M $6.698M
% Of Pretax Income 20.98% 24.06%
Net Earnings $27.13M $21.14M
YoY Change -23.91% -40.44%
Net Earnings / Revenue 11.45% 9.35%
Basic Earnings Per Share $0.09 $0.07
Diluted Earnings Per Share $0.08 $0.06
COMMON SHARES
Basic Shares Outstanding 308.5M 307.3M
Diluted Shares Outstanding 328.3M 327.6M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.1M $69.90M
YoY Change 260.77% -0.51%
Cash & Equivalents $136.1M $69.90M
Short-Term Investments
Other Short-Term Assets $12.64M $10.84M
YoY Change -11.93% 8.02%
Inventory $8.273M $8.228M
Prepaid Expenses
Receivables $2.796M $933.0K
Other Receivables $21.72M $14.12M
Total Short-Term Assets $181.5M $104.0M
YoY Change 139.43% 2.83%
LONG-TERM ASSETS
Property, Plant & Equipment $1.409B $596.7M
YoY Change 170.08% 22.3%
Goodwill $1.110B $1.110B
YoY Change 0.8% 4.62%
Intangibles $172.3M $172.4M
YoY Change -0.81% -0.34%
Long-Term Investments
YoY Change
Other Assets $9.212M $8.190M
YoY Change 13.87% -0.91%
Total Long-Term Assets $2.649B $2.613B
YoY Change 6.59% 8.81%
TOTAL ASSETS
Total Short-Term Assets $181.5M $104.0M
Total Long-Term Assets $2.649B $2.613B
Total Assets $2.831B $2.717B
YoY Change 10.53% 8.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.12M $30.38M
YoY Change 41.58% -10.3%
Accrued Expenses $117.9M $92.05M
YoY Change 46.72% 16.84%
Deferred Revenue $32.37M $30.51M
YoY Change 10.27% 7.19%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $706.0K $687.0K
YoY Change 12.42% 19.06%
Total Short-Term Liabilities $187.1M $153.6M
YoY Change 37.72% 8.42%
LONG-TERM LIABILITIES
Long-Term Debt $911.0M $896.2M
YoY Change 1.79% 0.18%
Other Long-Term Liabilities $802.5M $6.577M
YoY Change 10717.93% -14.13%
Total Long-Term Liabilities $1.714B $902.8M
YoY Change 89.87% 0.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.1M $153.6M
Total Long-Term Liabilities $1.714B $902.8M
Total Liabilities $1.965B $1.889B
YoY Change 8.36% 4.83%
SHAREHOLDERS EQUITY
Retained Earnings $62.75M $35.61M
YoY Change -330.04% -156.59%
Common Stock $802.6M $793.1M
YoY Change 3.93% 4.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $3.174M
Shareholders Equity $865.4M $828.7M
YoY Change
Total Liabilities & Shareholders Equity $2.831B $2.717B
YoY Change 10.53% 8.57%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $27.13M $21.14M
YoY Change -23.91% -40.44%
Depreciation, Depletion And Amortization $16.51M $15.38M
YoY Change 25.11% 18.9%
Cash From Operating Activities $50.11M $67.02M
YoY Change -5.59% -17.81%
INVESTING ACTIVITIES
Capital Expenditures $55.81M $72.06M
YoY Change -220.32% 140.08%
Acquisitions
YoY Change
Other Investing Activities $68.74M $8.899M
YoY Change -258.5% 889800.0%
Cash From Investing Activities $12.93M -$63.16M
YoY Change -114.41% 110.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.226M 894.0K
YoY Change -19.65% -193.81%
NET CHANGE
Cash From Operating Activities 50.11M 67.02M
Cash From Investing Activities 12.93M -63.16M
Cash From Financing Activities 3.226M 894.0K
Net Change In Cash 66.26M 4.751M
YoY Change -302.84% -90.61%
FREE CASH FLOW
Cash From Operating Activities $50.11M $67.02M
Capital Expenditures $55.81M $72.06M
Free Cash Flow -$5.704M -$5.042M
YoY Change -105.74% -109.78%

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CapitalExpendituresIncurredButNotYetPaid
18123000
CY2023Q1 mcw Property And Equipment In Other Accrued Expenses
PropertyAndEquipmentInOtherAccruedExpenses
5969000
CY2022Q1 mcw Property And Equipment In Other Accrued Expenses
PropertyAndEquipmentInOtherAccruedExpenses
0
CY2023Q1 mcw Stock Option Exercise Costs In Other Receivables
StockOptionExerciseCostsInOtherReceivables
61000
CY2022Q1 mcw Stock Option Exercise Costs In Other Receivables
StockOptionExerciseCostsInOtherReceivables
45000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
801128000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5361000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1116000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
21136000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
828741000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
657152000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5519000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1326000
CY2022Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
1869000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
35488000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
701354000
CY2023Q1 us-gaap Disposal Date1
DisposalDate1
2023-03-31
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
21
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(35,31,32,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements. Estimates also affect the reported amounts of revenue and expenses during the periods reported. Some of the significant estimates that we have made pertain to the determination of deferred tax assets and liabilities; estimates utilized to determine the fair value of assets acquired and liabilities assumed in business combinations and the related goodwill and intangibles; and certain assumptions used related to the evaluation of goodwill, intangibles, and property and equipment asset impairment. Actual results could differ from those estimates.</span></p>
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
47000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
76000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
5032000
CY2023Q1 mcw Investment Maturity Term
InvestmentMaturityTerm
These investments have maturities of less than 90 days
CY2023Q1 mcw Net Of Interest Income Included In Interest Expense
NetOfInterestIncomeIncludedInInterestExpense
57000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2023Q1 mcw Payment Made Upon Receipts Of Certificate Of Occupancy
PaymentMadeUponReceiptsOfCertificateOfOccupancy
500000
CY2023Q1 mcw Payroll Tax Withholding Receivable
PayrollTaxWithholdingReceivable
85000
CY2022Q4 mcw Payroll Tax Withholding Receivable
PayrollTaxWithholdingReceivable
273000
CY2023Q1 mcw Construction Receivable
ConstructionReceivable
6462000
CY2022Q4 mcw Construction Receivable
ConstructionReceivable
6199000
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
3353000
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
4387000
CY2023Q1 us-gaap Loss Contingency Receivable Current
LossContingencyReceivableCurrent
1759000
CY2022Q4 us-gaap Loss Contingency Receivable Current
LossContingencyReceivableCurrent
2627000
CY2023Q1 mcw Other Receivable
OtherReceivable
2457000
CY2022Q4 mcw Other Receivable
OtherReceivable
1696000
CY2023Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
14116000
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
15182000
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023Q1 mcw Fairvalueassetslevel1 Tolevel2 Transfersamount1
Fairvalueassetslevel1Tolevel2Transfersamount1
0
CY2022Q1 mcw Fairvalueassetslevel1 Tolevel2 Transfersamount1
Fairvalueassetslevel1Tolevel2Transfersamount1
0
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
8391000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
9357000
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
163000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
183000
CY2023Q1 us-gaap Inventory Net
InventoryNet
8228000
CY2022Q4 us-gaap Inventory Net
InventoryNet
9174000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
225960000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
219419000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
21136000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
35488000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307291909
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
300931453
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
327608266
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
329172437
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
835066000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
786446000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
235836000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
223288000
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2535000
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2284000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
596695000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
560874000
CY2023Q1 us-gaap Depreciation
Depreciation
15379000
CY2022Q1 us-gaap Depreciation
Depreciation
12934000
CY2023Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
251000
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
242000
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
172390000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
50268000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
174490000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
50875000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1677000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1769000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5051000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4920000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1699000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1457000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
629000
CY2023Q1 mcw Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1366000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15122000
CY2022Q4 us-gaap Goodwill
Goodwill
1109815000
CY2021Q4 us-gaap Goodwill
Goodwill
1060221000
CY2023Q1 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2022 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
57856000
CY2023Q1 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
0
CY2022 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
-8262000
CY2023Q1 us-gaap Goodwill
Goodwill
1109815000
CY2022Q4 us-gaap Goodwill
Goodwill
1109815000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
776496000
CY2023Q1 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
5806000
CY2022Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
5439000
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
7168000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
8863000
CY2023Q1 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
2105000
CY2022Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
3275000
CY2023Q1 mcw Greenfield Development Accruals
GreenfieldDevelopmentAccruals
5969000
CY2022Q4 mcw Greenfield Development Accruals
GreenfieldDevelopmentAccruals
18772000
CY2023Q1 mcw Other Accrued Expense
OtherAccruedExpense
9682000
CY2022Q4 mcw Other Accrued Expense
OtherAccruedExpense
4847000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30730000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
41196000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.241
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.189
CY2023Q1 mcw Year To Date Provision For Income Taxes
YearToDateProvisionForIncomeTaxes
0.253
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
340000
CY2022Q1 mcw Year To Date Provision For Income Taxes
YearToDateProvisionForIncomeTaxes
0.270
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
3537000
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
776689000
CY2023Q1 mcw Total Lease Right Of Use Asset
TotalLeaseRightOfUseAsset
790565000
CY2022Q4 mcw Total Lease Right Of Use Asset
TotalLeaseRightOfUseAsset
791009000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
896223000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
895830000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
901201000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2023Q1 mcw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
0
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
901201000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5310000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5729000
CY2023Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
4865000
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
4446000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
419000
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
419000
CY2023Q1 us-gaap Long Term Debt Description
LongTermDebtDescription
Under the Credit Agreement and with respect to the First Lien Term Loan, we had the option of selecting either (i) a Base Rate interest rate plus fixed margin of 2.25% or (ii) a Eurodollar (LIBOR) interest rate for one, two, three or six months plus a fixed margin of 3.25%.
CY2021 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2026-05-14
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0799
CY2022Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0742
CY2023Q1 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025
CY2022 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025
CY2023Q1 mcw Fairvalueassetslevel2 Tolevel1 Transfersamount1
Fairvalueassetslevel2Tolevel1Transfersamount1
0
CY2022Q4 mcw Fairvalueassetslevel2 Tolevel1 Transfersamount1
Fairvalueassetslevel2Tolevel1Transfersamount1
0
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
0
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
41279000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
40367000
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
687000
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
668000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
758752000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
759775000
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14599000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14779000
CY2023Q1 mcw Total Lease Liabilities
TotalLeaseLiabilities
815317000
CY2022Q4 mcw Total Lease Liabilities
TotalLeaseLiabilities
815589000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
24011000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
21204000
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
251000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
242000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
276000
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
285000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
8000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
6703000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
5141000
CY2023Q1 us-gaap Lease Cost
LeaseCost
31255000
CY2022Q1 us-gaap Lease Cost
LeaseCost
26880000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
23766000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
21461000
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
276000
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
285000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
161000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
134000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10527000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7818000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y11M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y3M7D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P16Y2M1D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P17Y29D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0743
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0666
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0733
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0733
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
72396000
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1318000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
96632000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1780000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
96438000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1786000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
95295000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1792000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
91681000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1819000
CY2023Q1 mcw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
861091000
CY2023Q1 mcw Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
20271000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1313533000
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
28766000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
513502000
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
13480000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
800031000
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
15286000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
41279000
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
687000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
758752000
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14599000
CY2023Q1 mcw Number Of Leases
NumberOfLeases
9
CY2022Q4 mcw Number Of Leases
NumberOfLeases
7
CY2023Q1 mcw Number Of Sale Leaseback Transaction
NumberOfSaleLeasebackTransaction
2
CY2023Q1 mcw Sale Leaseback Transaction Net Proceeds Financing Activities1
SaleLeasebackTransactionNetProceedsFinancingActivities1
9213000
CY2023Q1 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
370000
CY2023Q1 mcw Sale Leaseback Transaction Annual Rental Payments1
SaleLeasebackTransactionAnnualRentalPayments1
559000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
311276074
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
308101847
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
309800757
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
306626530
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3174227
CY2022Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3174227
CY2023Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
6091000
CY2022Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
6091000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5390
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3433
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0453
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0007
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y5M26D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y5M26D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25533900
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.31
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1167755
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.25
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1434504
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.77
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
102398
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.48
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
25164753
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.68
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
24645069
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.40
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
20746422
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.26
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3460000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2075859
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
13.55
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
575672
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.25
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
4296
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
11.64
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
104288
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
13.27
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2542947
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
12.59
CY2023Q1 mcw Stock Based Compensation Expense Estimated Forfeiture Rate
StockBasedCompensationExpenseEstimatedForfeitureRate
0.0696
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5361000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5519000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5361000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5519000
CY2023Q1 us-gaap Acquisition Costs
AcquisitionCosts
0
CY2022Q1 us-gaap Acquisition Costs
AcquisitionCosts
129000
CY2022Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2023Q1 us-gaap Loss Contingency Discounted Amount Of Insurance Related Assessment Liability Payment Period
LossContingencyDiscountedAmountOfInsuranceRelatedAssessmentLiabilityPaymentPeriod
one year
CY2023Q2 mcw Number Of Sale Leaseback Transaction
NumberOfSaleLeasebackTransaction
5
CY2023Q2 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
59200000

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