2022 Q1 Form 10-Q Financial Statement

#000116486322000022 Filed on May 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $328.7M $280.8M $279.3M
YoY Change 17.69% 1.74% -1.2%
Cost Of Revenue $214.1M $180.1M $169.9M
YoY Change 26.02% 4.41% -9.34%
Gross Profit $114.6M $100.7M $109.4M
YoY Change 4.75% -2.71% 14.8%
Gross Profit Margin 34.86% 35.86% 39.17%
Selling, General & Admin $85.70M $93.30M $80.30M
YoY Change 6.72% 9.51% 9.7%
% of Gross Profit 74.78% 92.65% 73.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.900M $19.90M $6.900M
YoY Change 14.49% 3.11% -8.0%
% of Gross Profit 6.89% 19.76% 6.31%
Operating Expenses $87.20M $93.30M $82.20M
YoY Change 6.08% 0.97% 9.89%
Operating Profit $27.40M $7.400M $27.20M
YoY Change 0.74% -33.33% 32.68%
Interest Expense $7.100M -$3.500M $4.000M
YoY Change 77.5% 0.0% -14.89%
% of Operating Profit 25.91% -47.3% 14.71%
Other Income/Expense, Net $700.0K $113.3M -$100.0K
YoY Change -800.0% -608.07% -107.14%
Pretax Income $21.20M $116.4M $23.30M
YoY Change -9.01% -891.84% 30.17%
Income Tax $4.700M $13.70M $5.200M
% Of Pretax Income 22.17% 11.77% 22.32%
Net Earnings $16.20M $102.4M $18.00M
YoY Change -10.0% -1364.2% -91.77%
Net Earnings / Revenue 4.93% 36.47% 6.44%
Basic Earnings Per Share $0.78 $4.970M $0.87
Diluted Earnings Per Share $0.77 $4.923M $0.87
COMMON SHARES
Basic Shares Outstanding 20.80M shares 20.60M shares 20.60M shares
Diluted Shares Outstanding 20.90M shares 20.70M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $293.4M $338.1M $232.3M
YoY Change 26.3% 47.32% -40.59%
Cash & Equivalents $293.4M $338.1M $232.3M
Short-Term Investments
Other Short-Term Assets $38.30M $28.20M $16.70M
YoY Change 129.34% 60.23% -66.73%
Inventory $164.0M $160.0M $138.6M
Prepaid Expenses
Receivables $196.4M $177.0M $160.6M
Other Receivables $0.00 $9.700M $50.30M
Total Short-Term Assets $692.1M $713.0M $598.5M
YoY Change 15.64% 23.14% -23.44%
LONG-TERM ASSETS
Property, Plant & Equipment $231.3M $236.7M $191.0M
YoY Change 21.1% 21.38% -8.57%
Goodwill $948.2M $953.2M $617.2M
YoY Change 53.63% 53.3% 30.05%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $153.5M $153.5M $135.5M
YoY Change 13.28% 14.38% 5.86%
Total Long-Term Assets $2.221B $2.257B $1.482B
YoY Change 49.84% 49.99% 17.63%
TOTAL ASSETS
Total Short-Term Assets $692.1M $713.0M $598.5M
Total Long-Term Assets $2.221B $2.257B $1.482B
Total Assets $2.913B $2.970B $2.081B
YoY Change 40.0% 42.53% 1.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.90M $81.90M $72.10M
YoY Change 26.07% 17.34% -9.54%
Accrued Expenses $137.7M $135.2M $126.9M
YoY Change 8.51% 5.3% 16.1%
Deferred Revenue
YoY Change
Short-Term Debt $149.5M $149.3M $0.00
YoY Change
Long-Term Debt Due $13.60M $12.70M $4.000M
YoY Change 240.0% 234.21% 2.56%
Total Short-Term Liabilities $391.7M $379.1M $203.0M
YoY Change 92.96% 87.67% -27.84%
LONG-TERM LIABILITIES
Long-Term Debt $915.3M $963.9M $486.9M
YoY Change 87.99% 97.72% -0.86%
Other Long-Term Liabilities $128.9M $142.8M $128.8M
YoY Change 0.08% 4.46% 27.27%
Total Long-Term Liabilities $1.044B $1.107B $615.7M
YoY Change 69.6% 77.3% 3.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $391.7M $379.1M $203.0M
Total Long-Term Liabilities $1.044B $1.107B $615.7M
Total Liabilities $1.602B $1.653B $948.4M
YoY Change 68.94% 72.79% 0.82%
SHAREHOLDERS EQUITY
Retained Earnings $959.8M $949.4M $804.0M
YoY Change 19.38% 19.45% -4.91%
Common Stock $299.8M $303.8M $290.9M
YoY Change 3.06% 4.83% 1.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.200M $1.200M $1.200M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 180.6K shares 180.8K shares 181.8K shares
Shareholders Equity $1.261B $1.267B $1.081B
YoY Change
Total Liabilities & Shareholders Equity $2.913B $2.970B $2.081B
YoY Change 40.0% 42.53% 1.91%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $16.20M $102.4M $18.00M
YoY Change -10.0% -1364.2% -91.77%
Depreciation, Depletion And Amortization $7.900M $19.90M $6.900M
YoY Change 14.49% 3.11% -8.0%
Cash From Operating Activities $30.70M $44.20M $20.30M
YoY Change 51.23% 380.43% -444.07%
INVESTING ACTIVITIES
Capital Expenditures $3.800M -$5.400M $6.200M
YoY Change -38.71% -16.92% 19.23%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$671.7M -$200.0K
YoY Change -150.0% 209.68% -110.0%
Cash From Investing Activities -$3.500M -$677.1M -$8.300M
YoY Change -57.83% 203.09% -101.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $52.40M $1.000M
YoY Change 5140.0% -99.37%
Cash From Financing Activities -$60.40M 639.5M -$8.100M
YoY Change 645.68% -8860.27% -94.47%
NET CHANGE
Cash From Operating Activities $30.70M 44.20M $20.30M
Cash From Investing Activities -$3.500M -677.1M -$8.300M
Cash From Financing Activities -$60.40M 639.5M -$8.100M
Net Change In Cash -$44.70M 6.600M $2.800M
YoY Change -1696.43% -102.98% -98.96%
FREE CASH FLOW
Cash From Operating Activities $30.70M $44.20M $20.30M
Capital Expenditures $3.800M -$5.400M $6.200M
Free Cash Flow $26.90M $49.60M $14.10M
YoY Change 90.78% 215.92% -227.03%

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20600000 shares
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100000 shares
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100000 shares
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20900000 shares
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CY2021Q1 us-gaap Earnings Per Share Diluted
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CY2022Q1 us-gaap Inventory Finished Goods
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37800000 USD
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InventoryWorkInProcess
41800000 USD
CY2022Q1 us-gaap Inventory Raw Materials And Supplies
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74000000.0 USD
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
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66200000 USD
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169600000 USD
CY2021Q4 us-gaap Inventory Gross
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164800000 USD
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5600000 USD
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4800000 USD
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164000000.0 USD
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160000000.0 USD
CY2021Q4 us-gaap Goodwill
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600000 USD
CY2022Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2022Q1 us-gaap Goodwill
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CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
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281300000 USD
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1129600000 USD
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262800000 USD
CY2022Q1 us-gaap Intangible Assets Gross Excluding Goodwill
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1169000000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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262800000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
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19800000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
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0.27
CY2022Q1 us-gaap Payments Of Dividends Common Stock
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5900000 USD
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45000000.0 USD
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60500000 USD
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9800000 USD
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4900000 USD
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17200000 USD
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11800000 USD
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9400000 USD
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10000000.0 USD
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28800000 USD
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28500000 USD
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CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
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0.28
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
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50000000 USD
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3 segment
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328700000 USD
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CY2022Q1 npo Adjusted Earnings Before Interest Tax Depreciation And Amortization
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63800000 USD
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77600000 USD
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63800000 USD
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200000 USD
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CY2022Q1 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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CY2021Q1 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
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1600000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
CY2022Q1 npo Fair Value Adjustment To Acquisition Date Inventory
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10300000 USD
CY2021Q1 npo Fair Value Adjustment To Acquisition Date Inventory
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2400000 USD
CY2022Q1 us-gaap Restructuring Costs And Asset Impairment Charges
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400000 USD
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1800000 USD
CY2022Q1 npo Depreciation Depletion And Amortization Allocated To Segments
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27900000 USD
CY2021Q1 npo Depreciation Depletion And Amortization Allocated To Segments
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18800000 USD
CY2022Q1 us-gaap Interest Revenue Expense Net
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InterestRevenueExpenseNet
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CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21200000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
23300000 USD
CY2022Q1 us-gaap Assets
Assets
2912800000 USD
CY2021Q4 us-gaap Assets
Assets
2969800000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation
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394100000 USD
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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0.90
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
328700000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
279300000 USD
CY2022Q1 us-gaap Derivative Assets
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13600000 USD
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DerivativeAssets
8700000 USD
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11000000.0 USD
CY2021Q4 npo Deferred Compensation Assets Fair Value
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10900000 USD
CY2022Q1 us-gaap Assets Fair Value Disclosure
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24600000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
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19600000 USD
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
11600000 USD
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
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11400000 USD
CY2022Q1 us-gaap Long Term Debt
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942300000 USD
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976600000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
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998300000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-11700000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-100000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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-8400000 USD
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-500000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-7900000 USD
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities
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19 site
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities Cost In Excess Of100 K
SiteContingencyNumberOfSitesSubjectToRemediationActivitiesCostInExcessOf100K
12 site
CY2022Q1 npo Site Contingency Sites Subject To Remediation Activities Cost Per Site De Minimis Threshold
SiteContingencySitesSubjectToRemediationActivitiesCostPerSiteDeMinimisThreshold
100000 USD
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities
SiteContingencyNumberOfSitesSubjectToRemediationActivities
19 site
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities Discontinued Operations
SiteContingencyNumberOfSitesSubjectToRemediationActivitiesDiscontinuedOperations
17 site
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities Active Operations
SiteContingencyNumberOfSitesSubjectToRemediationActivitiesActiveOperations
2 site
CY2022Q1 npo Site Contingency Number Of Sites Subject To Remediation Activities Investigation Completed
SiteContingencyNumberOfSitesSubjectToRemediationActivitiesInvestigationCompleted
16 site
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SiteContingencyNumberOfSitesSubjectToRemediationActivitiesInvestigationInProgress
3 site
CY2022Q1 us-gaap Accrual For Environmental Loss Contingencies
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46000000 USD
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AccrualForEnvironmentalLossContingencies
46600000 USD
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
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17200000 USD
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4900000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6700000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
300000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
500000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
700000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
400000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4500000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6800000 USD
CY2022Q1 us-gaap Estimated Insurance Recoveries
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25000000 USD
CY2022Q1 us-gaap Estimated Insurance Recoveries
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25000000 USD
CY2022Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
22000000 USD
CY2022Q1 npo Loss Contingency Estimated Insurance Recoveries From Other Claimants
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10000000 USD
CY2022Q1 npo Estimated Insurance Recoveries Threshold Before Shares With Trust
EstimatedInsuranceRecoveriesThresholdBeforeSharesWithTrust
3000000 USD

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