2022 Q3 Form 10-Q Financial Statement

#000095017022013864 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $228.1M $233.2M $225.5M
YoY Change 14.0% 24.44% 29.27%
Cost Of Revenue $156.4M $158.4M $153.6M
YoY Change 7.31% 19.69% 23.82%
Gross Profit $71.65M $74.72M $71.93M
YoY Change 31.95% 35.86% 42.68%
Gross Profit Margin 31.42% 32.05% 31.9%
Selling, General & Admin $51.76M $52.32M $47.99M
YoY Change 21.69% 30.41% 21.35%
% of Gross Profit 72.24% 70.03% 66.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.280M $5.362M $5.321M
YoY Change 8.22% -2.19% 1.14%
% of Gross Profit 7.37% 7.18% 7.4%
Operating Expenses $51.76M $52.32M $47.99M
YoY Change 21.69% 30.41% 21.35%
Operating Profit $19.90M $22.62M $24.41M
YoY Change 68.38% 42.52% 124.62%
Interest Expense -$1.719M -$1.211M -$1.147M
YoY Change 62.78% 21.22% 15.28%
% of Operating Profit -8.64% -5.35% -4.7%
Other Income/Expense, Net
YoY Change
Pretax Income $18.18M $21.41M $23.26M
YoY Change 68.92% 43.95% 135.64%
Income Tax $4.507M $5.575M $5.921M
% Of Pretax Income 24.79% 26.04% 25.46%
Net Earnings $13.67M $15.83M $17.34M
YoY Change 72.98% 42.94% 137.33%
Net Earnings / Revenue 5.99% 6.79% 7.69%
Basic Earnings Per Share $0.37 $0.43 $0.48
Diluted Earnings Per Share $0.37 $0.43 $0.47
COMMON SHARES
Basic Shares Outstanding 36.47M 36.40M 36.28M
Diluted Shares Outstanding 36.72M 36.62M 36.51M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.42M $22.43M $17.58M
YoY Change 37.73% 65.65% 5.25%
Cash & Equivalents $20.42M $22.43M $17.58M
Short-Term Investments
Other Short-Term Assets $10.49M $11.30M $4.889M
YoY Change 45.69% 18.01% -49.07%
Inventory $108.2M $108.9M $99.65M
Prepaid Expenses
Receivables $128.8M $132.0M $132.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $267.9M $274.6M $254.8M
YoY Change 17.22% 36.49% 33.58%
LONG-TERM ASSETS
Property, Plant & Equipment $97.90M $94.95M $92.20M
YoY Change 8.18% -11.11% 10.8%
Goodwill $95.28M $96.09M $88.95M
YoY Change 20.87% 12.09%
Intangibles $53.41M $55.08M $48.76M
YoY Change 22.37%
Long-Term Investments
YoY Change
Other Assets $5.309M $4.096M $4.552M
YoY Change 22.05% -4.72% -26.72%
Total Long-Term Assets $281.8M $279.4M $262.4M
YoY Change 5.85% 21.86% 14.34%
TOTAL ASSETS
Total Short-Term Assets $267.9M $274.6M $254.8M
Total Long-Term Assets $281.8M $279.4M $262.4M
Total Assets $549.7M $554.0M $517.2M
YoY Change 11.1% 28.7% 23.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $97.13M $104.3M $101.3M
YoY Change 23.65% 27.81% 44.82%
Accrued Expenses $39.87M $40.33M $33.64M
YoY Change 8.17% 17.95% 12.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $153.3M $160.1M $149.0M
YoY Change 19.74% 25.88% 31.07%
LONG-TERM LIABILITIES
Long-Term Debt $97.96M $104.0M $92.45M
YoY Change -12.02% 79.75% 30.34%
Other Long-Term Liabilities $13.69M $13.86M $13.97M
YoY Change 9.33% -2.19% -2.35%
Total Long-Term Liabilities $111.7M $117.8M $106.4M
YoY Change -9.86% 63.62% 24.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $153.3M $160.1M $149.0M
Total Long-Term Liabilities $111.7M $117.8M $106.4M
Total Liabilities $304.7M $316.8M $293.1M
YoY Change 20.98% 38.63% 47.35%
SHAREHOLDERS EQUITY
Retained Earnings -$72.31M -$80.98M -$91.78M
YoY Change -32.1%
Common Stock $335.7M $334.2M $330.7M
YoY Change 2.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $245.0M $237.3M $224.1M
YoY Change
Total Liabilities & Shareholders Equity $549.7M $554.0M $517.2M
YoY Change 11.1% 28.7% 23.07%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $13.67M $15.83M $17.34M
YoY Change 72.98% 42.94% 137.33%
Depreciation, Depletion And Amortization $5.280M $5.362M $5.321M
YoY Change 8.22% -2.19% 1.14%
Cash From Operating Activities $16.46M $27.01M $7.292M
YoY Change -312.2% 83.58% 10.69%
INVESTING ACTIVITIES
Capital Expenditures -$6.672M -$5.883M $5.060M
YoY Change 10.39% 97.42% -3.4%
Acquisitions
YoY Change
Other Investing Activities $26.00K -$23.83M $1.076M
YoY Change -100.08% -937.61% -188.2%
Cash From Investing Activities -$6.646M -$29.71M -$3.984M
YoY Change -83.42% 21909.63% -38.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $471.0K
YoY Change -75.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.66M 7.744M -3.436M
YoY Change -123.71% -143.77% -70.89%
NET CHANGE
Cash From Operating Activities 16.46M 27.01M 7.292M
Cash From Investing Activities -6.646M -29.71M -3.984M
Cash From Financing Activities -11.66M 7.744M -3.436M
Net Change In Cash -1.849M 5.038M -79.00K
YoY Change -236.96% -261.63% -99.32%
FREE CASH FLOW
Cash From Operating Activities $16.46M $27.01M $7.292M
Capital Expenditures -$6.672M -$5.883M $5.060M
Free Cash Flow $23.13M $32.89M $2.232M
YoY Change -1450.38% 85.91% 65.33%

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11075000
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
470000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021Q2 us-gaap Dividends Common Stock Cash
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4928000
us-gaap Net Income Loss
NetIncomeLoss
33168000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Dividends Common Stock Cash
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Dividends Common Stock Cash
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation
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us-gaap Depreciation
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10752000
us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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1829000
us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gain Loss On Disposition Of Assets
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996000
us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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-131000
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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mye Allowance For Doubtful Accounts Receivable Write Offs And Other
AllowanceForDoubtfulAccountsReceivableWriteOffsAndOther
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CY2021Q4 us-gaap Other Sundry Liabilities Noncurrent
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CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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mye Allowance For Doubtful Accounts Receivable Write Offs And Other
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CY2022Q2 us-gaap Inventory Net
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CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q4 us-gaap Inventory Net
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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us-gaap Inventory Lifo Reserve Period Charge
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us-gaap Inventory Lifo Reserve Period Charge
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
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CY2022Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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CY2021Q4 mye Customer Deposits And Accrued Rebates Current
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5441000
CY2022Q2 us-gaap Litigation Reserve Current
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CY2022Q2 us-gaap Accrued Environmental Loss Contingencies Current
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1429000
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CY2021Q4 mye Other Accrued Expenses Current
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CY2022Q2 us-gaap Other Liabilities Current
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20758000
CY2021Q4 us-gaap Other Liabilities Current
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CY2022Q2 us-gaap Other Sundry Liabilities Noncurrent
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2021Q4 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
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CY2022Q2 us-gaap Goodwill
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36122792
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36338907
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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11600000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
114540
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 us-gaap Debt Instrument Carrying Amount
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CY2021Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q2 us-gaap Unamortized Debt Issuance Expense
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CY2021Q4 us-gaap Unamortized Debt Issuance Expense
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CY2022Q2 us-gaap Long Term Debt
LongTermDebt
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CY2021Q4 us-gaap Long Term Debt
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CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
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CY2022Q2 us-gaap Long Term Debt Noncurrent
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of June 30, 2022, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2015.
us-gaap Lessee Operating Lease Option To Extend
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Certain of these leases include options to extend the lease for up to five years, and some include options to terminate the lease early.
us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
Certain of these leases include options to extend the lease for up to five years, and some include options to terminate the lease early.
us-gaap Lessee Operating Lease Existence Of Option To Extend
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true
CY2022Q2 us-gaap Lessee Operating Lease Renewal Term
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us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q2 us-gaap Finance Lease Right Of Use Asset
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CY2021Q4 us-gaap Finance Lease Right Of Use Asset
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CY2021Q4 mye Operating And Finance Lease Assets
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CY2021Q4 us-gaap Operating Lease Liability Current
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CY2022Q2 us-gaap Operating Lease Liability Noncurrent
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CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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CY2022Q2 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Operating Lease Liability
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CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
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OperatingAndFinanceLeaseLiabilities
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CY2021Q4 mye Operating And Finance Lease Liabilities
OperatingAndFinanceLeaseLiabilities
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CY2022Q2 us-gaap Lease Cost
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CY2021Q2 us-gaap Lease Cost
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P14Y2M1D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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3390000
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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420000
CY2022Q2 mye Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
OperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
3810000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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6211000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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840000
CY2022Q2 mye Operating And Finance Lease Liability Payments Due Next Twelve Months
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7051000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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4594000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
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CY2022Q2 mye Operating And Finance Lease Liability Payments Due Year Two
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
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CY2022Q2 mye Operating And Finance Lease Liability Payments Due Year Three
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
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CY2022Q2 mye Operating And Finance Lease Liability Payments Due Year Four
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CY2022Q2 mye Lessee Operating Lease Liability Payments Due After Year Four
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11243000
CY2022Q2 mye Finance Lease Liability To Be Paid After Year Four
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CY2022Q2 mye Operating And Finance Lease Liability Payments Due After Year Four
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q2 us-gaap Finance Lease Liability Payments Due
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CY2022Q2 mye Operating And Finance Lease Liability Payments Due
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3534000
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2571000
CY2022Q2 mye Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
6105000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
29016000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
9688000
CY2022Q2 mye Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
38704000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
233156000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
187369000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
458642000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
361798000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22617000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
24740000
us-gaap Severance Costs1
SeveranceCosts1
800000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15869000
us-gaap Operating Income Loss
OperatingIncomeLoss
47022000
us-gaap Operating Income Loss
OperatingIncomeLoss
26734000
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1211000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-999000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-2358000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1994000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21406000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14870000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
44664000

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