2023 Q4 Form 10-K Financial Statement

#000140352824000019 Filed on March 21, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $267.3M
YoY Change -45.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $50.27M
YoY Change -79.76%
% of Operating Profit
Other Income/Expense, Net $479.7M
YoY Change 44.23%
Pretax Income $540.2M
YoY Change 13.0%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $221.2M
YoY Change 8.61%
Net Earnings / Revenue 82.74%
Basic Earnings Per Share $1.80
Diluted Earnings Per Share $1.80
COMMON SHARES
Basic Shares Outstanding 107.6M shares
Diluted Shares Outstanding 107.6M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $336.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $18.40M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.556B
YoY Change 33.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $1.634B
YoY Change 4.38%
SHAREHOLDERS EQUITY
Retained Earnings $334.3M
YoY Change 35.71%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.252B
YoY Change
Total Liabilities & Shareholders Equity $7.556B
YoY Change 33.62%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $221.2M
YoY Change 8.61%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$730.7M
YoY Change -61.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$366.6M
YoY Change 60.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.262B
YoY Change -36.74%
NET CHANGE
Cash From Operating Activities -$730.7M
Cash From Investing Activities -$366.6M
Cash From Financing Activities $1.262B
Net Change In Cash $165.4M
YoY Change -207.05%
FREE CASH FLOW
Cash From Operating Activities -$730.7M
Capital Expenditures $0.00
Free Cash Flow -$730.7M
YoY Change -61.43%

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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023 us-gaap Cash Divested From Deconsolidation
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CY2022 us-gaap Cash Divested From Deconsolidation
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CY2021 us-gaap Cash Divested From Deconsolidation
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CY2023 oak Variable Interest Entity Initial Consolidation Increase Decrease In Cash And Cash Equivalents
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CY2022 oak Variable Interest Entity Initial Consolidation Increase Decrease In Cash And Cash Equivalents
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CY2021 oak Variable Interest Entity Initial Consolidation Increase Decrease In Cash And Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Interest Paid Net
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CY2021 us-gaap Interest Paid Net
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CY2023 us-gaap Income Taxes Paid
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CY2022 us-gaap Income Taxes Paid
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CY2021 us-gaap Income Taxes Paid
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CY2023 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2022 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2021 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2023 oak Noncash Or Part Noncash Divestiture Deconsolidation Due To Restructuring
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CY2022 oak Noncash Or Part Noncash Divestiture Deconsolidation Due To Restructuring
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CY2021 oak Noncash Or Part Noncash Divestiture Deconsolidation Due To Restructuring
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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336679000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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176130000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1159119000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021 oak Adjustments To Additional Paid In Capital Capital Contributions
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CY2021 oak Noncontrolling Interest Increase Decrease Equity Reallocation
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021 us-gaap Dividends Common Stock Cash
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790614000 usd
CY2021 oak Net Income Loss Including Noncontrolling Interest In Consolidated Subsidiaries
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CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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4418000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 oak Adjustments To Additional Paid In Capital Restructuring Equity Distribution Of Entities
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CY2022 oak Adjustments To Additional Paid In Capital Capital Contributions
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CY2022 oak Noncontrolling Interest Increase Decrease Equity Reallocation
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CY2022 oak Net Income Loss Including Noncontrolling Interest In Consolidated Subsidiaries
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CY2023 oak Adjustments To Additional Paid In Capital Capital Contributions
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CY2023 oak Adjustments To Additional Paid In Capital Restructuring Equity Distribution Of Entities
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CY2023 oak Noncontrolling Interest Increase Decrease Equity Reallocation
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CY2023 oak Net Income Loss Including Noncontrolling Interest In Consolidated Subsidiaries
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CY2023Q4 oak Entity Information Number Of Operating Group Entities
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CY2023 us-gaap Use Of Estimates
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<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of the consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of income and expenses during the period then ended. Actual results could differ from these estimates.
CY2023 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivatives and Hedging</span></div><div style="margin-bottom:5pt;margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A derivative is a financial instrument whose value is derived from an underlying financial instrument or index, such as interest rates, equity securities, currencies, commodities or credit spreads. Derivatives include futures, forwards, swaps or option contracts, and other financial instruments with similar characteristics. Derivative </span></div><div style="margin-bottom:5pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest-rate swaps, foreign-currency forwards or cross-currency swaps). </span></div><div style="margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company enters into derivatives as part of its overall risk management strategy or to facilitate its investment management activities. The Company manages its exposure to interest rate and foreign exchange market risks, when deemed appropriate, through the use of derivatives, including foreign currency forward and option contracts, interest-rate and cross currency swaps with financial counterparties. Risks associated with fluctuations in interest rates and foreign-currency exchange rates in the normal course of business are addressed as part of the Company’s overall risk management strategy that may result in the use of derivatives to economically hedge or reduce these exposures. From time to time, the Company may enter into (a) foreign-currency option and forward contracts to reduce earnings and cash-flow volatility associated with changes in foreign-currency exchange rates, and (b) interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. As a result of the use of these or other derivative contracts, the Company is exposed to the risk that counterparties will fail to fulfill their contractual obligations. The Company attempts to mitigate this counterparty risk by entering into derivative contracts only with major financial institutions that have investment-grade credit ratings. Counterparty credit risk is evaluated in determining the fair value of derivatives.</span></div><div style="margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes all derivatives as assets or liabilities in its consolidated statements of financial condition at fair value. In connection with its derivative activities, the Company generally enters into agreements subject to enforceable master netting arrangements that allow the Company to offset derivative assets and liabilities in the same currency by specific derivative type or, in the event of default by the counterparty, to offset derivative assets and liabilities with the same counterparty. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its consolidated statements of financial condition.</span></div>When the Company enters into a derivative contract, it may or may not elect to designate the derivative as a hedging instrument and apply hedge accounting as part of its overall risk management strategy. In other situations, when a derivative does not qualify for hedge accounting or when the derivative and the hedged item are both recorded in current-period earnings and thus deemed to be economic hedges, hedge accounting is not applied. Freestanding derivatives are financial instruments that we enter into as part of our overall risk management strategy but do not utilize hedge accounting. These financial instruments may include foreign-currency exchange contracts, interest-rate swaps and other derivative contracts.
CY2023 oak Incentive Income Compensation Expense Vesting Period
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P5Y
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CY2023 oak Investment At Fair Value Investment Income Other Net
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CY2022 oak Investment At Fair Value Investment Income Other Net
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CY2022 oak Income Loss From Equity Method Investments And Investment Income Net
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CY2021 oak Income Loss From Equity Method Investments And Investment Income Net
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CY2022Q4 oak Investments Fair Value Disclosure Percentage Of Net Assets Threshold Percentage
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CY2023Q4 oak Investments Fair Value Disclosure Percentage Of Net Assets Threshold Percentage
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CY2023 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2022 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2021 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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CY2023Q4 us-gaap Derivative Assets
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CY2023Q4 us-gaap Derivative Collateral Obligation To Return Securities
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CY2023Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2023Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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CY2023Q4 us-gaap Derivative Collateral Right To Reclaim Securities
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CY2023Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2023Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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30240000 usd
CY2022Q4 us-gaap Derivative Assets
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CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2022Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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CY2022Q4 us-gaap Derivative Liabilities
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CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Securities
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CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2022Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2022Q4 us-gaap Goodwill
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CY2023Q4 us-gaap Goodwill
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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1723294000 usd
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2023 us-gaap Noncontrolling Interest Decrease From Deconsolidation
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CY2022 us-gaap Noncontrolling Interest Decrease From Deconsolidation
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CY2021 us-gaap Noncontrolling Interest Decrease From Deconsolidation
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CY2023 us-gaap Temporary Equity Stock Issued During Period Value New Issues
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CY2022 us-gaap Temporary Equity Stock Issued During Period Value New Issues
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CY2021 us-gaap Temporary Equity Stock Issued During Period Value New Issues
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CY2023 oak Temporary Equity Distribution During Period Value
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CY2022 oak Temporary Equity Distribution During Period Value
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CY2021 oak Temporary Equity Distribution During Period Value
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CY2023 us-gaap Temporary Equity Net Income
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CY2022 us-gaap Temporary Equity Net Income
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CY2021 us-gaap Temporary Equity Net Income
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CY2023 oak Temporary Equity Change In Distributions Payable
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CY2022 oak Temporary Equity Change In Distributions Payable
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CY2021 oak Temporary Equity Change In Distributions Payable
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CY2023 us-gaap Temporary Equity Foreign Currency Translation Adjustments
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CY2022 us-gaap Temporary Equity Foreign Currency Translation Adjustments
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CY2021 us-gaap Temporary Equity Foreign Currency Translation Adjustments
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CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2023Q4 us-gaap Preferred Stock Redemption Price Per Share
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CY2023 oak Net Income Loss Before Income Taxes Allocated From Parent Available To Common Stockholders Basic
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CY2022 oak Net Income Loss Before Income Taxes Allocated From Parent Available To Common Stockholders Basic
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CY2021 oak Net Income Loss Before Income Taxes Allocated From Parent Available To Common Stockholders Basic
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CY2023 oak Net Income Loss Not Allocated From Parent Available To Common Stockholders Basic
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CY2022 oak Net Income Loss Not Allocated From Parent Available To Common Stockholders Basic
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CY2021 oak Net Income Loss Not Allocated From Parent Available To Common Stockholders Basic
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023 us-gaap Minority Interest Period Increase Decrease
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CY2022 us-gaap Minority Interest Period Increase Decrease
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CY2021 us-gaap Minority Interest Period Increase Decrease
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CY2023 oak Change From Net Income Loss Attributable To Parent And Transfers To Non Controlling Interest
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CY2022 oak Change From Net Income Loss Attributable To Parent And Transfers To Non Controlling Interest
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CY2021 oak Change From Net Income Loss Attributable To Parent And Transfers To Non Controlling Interest
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023 oak Effective Income Tax Rate Reconciliation Income Passed Through
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CY2021 oak Effective Income Tax Rate Reconciliation Income Passed Through
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