$MEI
METHODE ELECTRONICS INC

2021 Q4 Form 10-Q Financial Statement

#000156459021059038 Filed on December 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $295.5M $287.8M $300.8M
YoY Change -1.76% 50.76% 16.95%
Cost Of Revenue $226.3M $216.1M $220.0M
YoY Change 2.86% 48.22% 16.65%
Gross Profit $69.20M $71.70M $80.80M
YoY Change -14.36% 58.98% 17.78%
Gross Profit Margin 23.42% 24.91% 26.86%
Selling, General & Admin $31.20M $32.80M $30.80M
YoY Change 1.3% 23.31% -7.23%
% of Gross Profit 45.09% 45.75% 38.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.500M $12.60M $7.600M
YoY Change 11.84% 4.13% 5.56%
% of Gross Profit 12.28% 17.57% 9.41%
Operating Expenses $36.00M $37.60M $30.80M
YoY Change 16.88% 41.35% -7.23%
Operating Profit $33.20M $34.10M $45.00M
YoY Change -26.22% 147.1% 46.58%
Interest Expense $100.0K -$900.0K -$2.000M
YoY Change -105.0% -60.87% -13.04%
% of Operating Profit 0.3% -2.64% -4.44%
Other Income/Expense, Net $900.0K $1.800M $2.600M
YoY Change -65.38% -47.06% 160.0%
Pretax Income $33.00M $34.80M $46.20M
YoY Change -28.57% 123.08% 59.31%
Income Tax $5.500M $5.700M $7.600M
% Of Pretax Income 16.67% 16.38% 16.45%
Net Earnings $27.50M $29.10M $38.60M
YoY Change -28.76% 40.58% 62.18%
Net Earnings / Revenue 9.31% 10.11% 12.83%
Basic Earnings Per Share $0.73 $0.77 $1.01
Diluted Earnings Per Share $0.72 $0.76 $1.01
COMMON SHARES
Basic Shares Outstanding 37.54M 37.94M 38.11M
Diluted Shares Outstanding 38.08M 38.46M 38.13M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $177.2M $207.9M $242.3M
YoY Change -26.87% -1.47% 153.45%
Cash & Equivalents $177.2M $207.9M $242.3M
Short-Term Investments
Other Short-Term Assets $21.90M $20.60M $18.20M
YoY Change 20.33% 25.61% -2.67%
Inventory $149.0M $142.4M $120.7M
Prepaid Expenses
Receivables $281.0M $276.7M $290.3M
Other Receivables $14.00M $13.30M $10.80M
Total Short-Term Assets $643.1M $660.9M $682.3M
YoY Change -5.75% 10.52% 46.61%
LONG-TERM ASSETS
Property, Plant & Equipment $206.6M $214.6M $203.2M
YoY Change 1.67% 2.88% 2.57%
Goodwill $235.0M $235.2M $233.3M
YoY Change 0.73% 0.81% -0.13%
Intangibles $219.1M $224.1M $237.0M
YoY Change -7.55% -7.43% -7.35%
Long-Term Investments
YoY Change
Other Assets $787.6M $103.6M $807.0M
YoY Change -2.4% -87.37% -1.26%
Total Long-Term Assets $787.6M $798.1M $807.0M
YoY Change -2.4% -2.69% -1.26%
TOTAL ASSETS
Total Short-Term Assets $643.1M $660.9M $682.3M
Total Long-Term Assets $787.6M $798.1M $807.0M
Total Assets $1.431B $1.459B $1.489B
YoY Change -3.93% 2.88% 16.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.6M $110.8M $112.4M
YoY Change 5.52% 33.17% 15.76%
Accrued Expenses $57.20M $58.70M $60.40M
YoY Change -5.3% 9.11% 6.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $14.70M $14.80M $15.30M
YoY Change -3.92% -3.9% 0.66%
Total Short-Term Liabilities $207.8M $204.1M $198.7M
YoY Change 4.58% 27.56% 7.81%
LONG-TERM LIABILITIES
Long-Term Debt $208.4M $220.6M $332.3M
YoY Change -37.29% -34.03% 27.86%
Other Long-Term Liabilities $19.50M $62.30M $18.80M
YoY Change 3.72% 211.5% 10.59%
Total Long-Term Liabilities $303.4M $220.6M $439.2M
YoY Change -30.92% -50.36% 20.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.8M $204.1M $198.7M
Total Long-Term Liabilities $303.4M $220.6M $439.2M
Total Liabilities $511.2M $524.7M $637.9M
YoY Change -19.86% -13.19% 15.96%
SHAREHOLDERS EQUITY
Retained Earnings $749.8M $698.9M
YoY Change 7.28% 18.76%
Common Stock $19.40M $19.40M
YoY Change 0.0% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M $11.50M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.347M $1.347M
Shareholders Equity $919.5M $934.3M $851.4M
YoY Change
Total Liabilities & Shareholders Equity $1.431B $1.459B $1.489B
YoY Change -3.93% 2.88% 16.11%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $27.50M $29.10M $38.60M
YoY Change -28.76% 40.58% 62.18%
Depreciation, Depletion And Amortization $8.500M $12.60M $7.600M
YoY Change 11.84% 4.13% 5.56%
Cash From Operating Activities $27.00M $9.700M $40.30M
YoY Change -33.0% -40.85% -17.25%
INVESTING ACTIVITIES
Capital Expenditures -$5.400M $15.90M -$3.600M
YoY Change 50.0% 37.07% -73.53%
Acquisitions
YoY Change
Other Investing Activities $100.0K $500.0K
YoY Change
Cash From Investing Activities -$5.300M -$15.40M -$3.600M
YoY Change 47.22% 32.76% -72.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.400M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -51.40M -18.30M -6.200M
YoY Change 729.03% 40.77% -49.59%
NET CHANGE
Cash From Operating Activities 27.00M 9.700M 40.30M
Cash From Investing Activities -5.300M -15.40M -3.600M
Cash From Financing Activities -51.40M -18.30M -6.200M
Net Change In Cash -29.70M -25.30M 30.50M
YoY Change -197.38% 301.59% 30.34%
FREE CASH FLOW
Cash From Operating Activities $27.00M $9.700M $40.30M
Capital Expenditures -$5.400M $15.90M -$3.600M
Free Cash Flow $32.40M -$6.200M $43.90M
YoY Change -26.2% -229.17% -29.53%

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FiscalPeriod
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Financial reporting periods</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company maintains its financial records on the basis of a 52- or 53-week fiscal year ending on the Saturday closest to April 30. The three months ended October 30, 2021 and October 31, 2020 were both <span style="-sec-ix-hidden:F_000398"><span style="-sec-ix-hidden:F_000399">13-week</span></span> periods, and the six months ended October 30, 2021 and October 31, 2020 were both <span style="-sec-ix-hidden:F_000400"><span style="-sec-ix-hidden:F_000401">26-week</span></span> periods.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. Actual results could differ from these estimates.</p>
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
295500000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
295500000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300800000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
583300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
583300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
491700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
491700000
CY2020Q4 us-gaap Restructuring Costs
RestructuringCosts
4200000
us-gaap Restructuring Costs
RestructuringCosts
7600000
CY2020Q4 us-gaap Restructuring Costs
RestructuringCosts
4200000
us-gaap Restructuring Costs
RestructuringCosts
7600000
CY2021Q4 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
200000
CY2021Q2 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
1200000
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33000000.0
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
46200000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
67800000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
61800000
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5500000
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11200000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.167
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.165
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.165
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.040
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5300000
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5300000
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
200000
CY2021Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
200000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
800000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
700000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
30000000.0
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
24800000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14500000
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14000000.0
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
104500000
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
85400000
CY2021Q4 us-gaap Inventory Net
InventoryNet
149000000.0
CY2021Q2 us-gaap Inventory Net
InventoryNet
124200000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
533300000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
525000000.0
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
326700000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
321000000.0
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
206600000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
204000000.0
CY2021Q4 us-gaap Depreciation
Depreciation
8500000
CY2020Q4 us-gaap Depreciation
Depreciation
7600000
us-gaap Depreciation
Depreciation
16300000
us-gaap Depreciation
Depreciation
15000000.0
CY2021Q4 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2900000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5500000
CY2021Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
30100000
CY2021Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Not Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsNotOwned
25000000.0
CY2021Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsOwned
13500000
CY2021Q2 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Asset For Molds Dies And Tools Owned
PreproductionCostsRelatedToLongTermSupplyArrangementsAssetForMoldsDiesAndToolsOwned
17000000.0
CY2021Q2 us-gaap Goodwill
Goodwill
235600000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
-3500000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-600000
CY2021Q4 us-gaap Goodwill
Goodwill
235000000.0
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217300000
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
294800000
CY2021Q4 mei Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
-75700000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
293000000.0
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
75700000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
219100000
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
294000000.0
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
66400000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
227600000
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
295800000
CY2021Q2 mei Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
-66400000
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
229400000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
9500000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
19100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
18700000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
18100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
17200000
CY2021Q4 mei Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
134700000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217300000
us-gaap Derivative Maturity Dates
DerivativeMaturityDates
2023-08-31
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
60000000.0
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
54800000
CY2021Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
2300000
CY2020Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
1100000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
3400000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2000000.0
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1200000
CY2021Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1500000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
223100000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
240100000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
14700000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
14900000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
208400000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
225200000
CY2021Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
807516
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
965029
CY2021Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
43.07
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
43.93
CY2021Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
34800000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
42400000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1132978
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
49900000
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
50100000
CY2021Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5100000
CY2020Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4100000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10300000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9100000
mei Description Of Changes In Dividends Rate
DescriptionOfChangesInDividendsRate
increased its quarterly dividend from $0.11 per share to $0.14 per share
CY2021Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
100000
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-100000
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
300000
CY2021Q4 us-gaap Derivatives Used In Net Investment Hedge Tax Expense Benefit
DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit
-600000
CY2020Q4 us-gaap Derivatives Used In Net Investment Hedge Tax Expense Benefit
DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit
-200000
us-gaap Derivatives Used In Net Investment Hedge Tax Expense Benefit
DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit
-800000
us-gaap Derivatives Used In Net Investment Hedge Tax Expense Benefit
DerivativesUsedInNetInvestmentHedgeTaxExpenseBenefit
800000
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-7900000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
171310
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
528684
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2000000.0
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-7900000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
27500000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
38600000
us-gaap Net Income Loss
NetIncomeLoss
56600000
us-gaap Net Income Loss
NetIncomeLoss
59300000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37544357
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38106793
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37741923
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37971668
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
538899
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
20745
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38083256
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38127538
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38270607
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38142978
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.56
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.56
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
928412
CY2020Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1017000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
928412
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
559334
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
295500000
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
33200000
CY2021Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1100000
CY2021Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
900000
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33000000.0
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300800000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
45000000.0
CY2020Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1400000
CY2020Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2600000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
583300000
us-gaap Operating Income Loss
OperatingIncomeLoss
67300000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-2200000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2700000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
67800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
491700000
us-gaap Operating Income Loss
OperatingIncomeLoss
58800000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3000000.0
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
6000000.0
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
61800000
CY2021Q4 us-gaap Assets
Assets
1430700000
CY2021Q2 us-gaap Assets
Assets
1467000000.0

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