2022 Q3 Form 10-Q Financial Statement

#000112148422000085 Filed on July 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $189.4M $181.8M $164.0M
YoY Change 34.77% 24.78% 30.62%
Cost Of Revenue $151.3M $142.2M $126.6M
YoY Change 29.09% 20.85% 23.75%
Gross Profit $38.10M $39.68M $37.44M
YoY Change 63.35% 41.24% 60.83%
Gross Profit Margin 20.11% 21.82% 22.82%
Selling, General & Admin $23.37M $23.76M $23.83M
YoY Change 16.42% 7.54% 12.29%
% of Gross Profit 61.36% 59.87% 63.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.30M $12.00M $17.82M
YoY Change -23.13% -23.08% -17.21%
% of Gross Profit 29.66% 30.24% 47.59%
Operating Expenses $23.37M $23.76M $23.83M
YoY Change 16.42% 7.54% 12.29%
Operating Profit $5.058M -$1.090M -$4.336M
YoY Change -131.34% -93.81% -78.06%
Interest Expense -$2.637M -$2.638M -$2.672M
YoY Change 2.65% -2.26% 16.17%
% of Operating Profit -52.14%
Other Income/Expense, Net $491.0K $376.0K $1.025M
YoY Change -77.02% -79.34% -74.12%
Pretax Income $2.900M -$3.400M -$6.000M
YoY Change -117.47% -81.62% -66.85%
Income Tax $800.0K $1.800M $3.400M
% Of Pretax Income 27.59%
Net Earnings $2.143M -$5.144M -$9.424M
YoY Change -116.43% -66.32% -40.39%
Net Earnings / Revenue 1.13% -2.83% -5.74%
Basic Earnings Per Share $0.03 -$0.08 -$0.16
Diluted Earnings Per Share $0.03 -$0.08 -$0.16
COMMON SHARES
Basic Shares Outstanding 61.99M shares 60.70M shares 60.50M shares
Diluted Shares Outstanding 62.68M shares 60.70M shares 60.50M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.10M $22.25M $39.16M
YoY Change -51.0% -64.49% -28.15%
Cash & Equivalents $33.10M $22.25M $39.16M
Short-Term Investments
Other Short-Term Assets $18.16M $19.68M $20.24M
YoY Change 14.1% 14.67% 17.66%
Inventory $181.6M $179.8M $180.9M
Prepaid Expenses
Receivables $209.3M $204.4M $194.3M
Other Receivables $7.564M $9.916M $10.04M
Total Short-Term Assets $442.2M $426.1M $434.5M
YoY Change 4.53% 0.2% 3.58%
LONG-TERM ASSETS
Property, Plant & Equipment $305.1M $314.9M $330.1M
YoY Change -10.38% -11.4% -9.71%
Goodwill $78.58M $79.49M $76.18M
YoY Change 2.89% 3.79% -0.48%
Intangibles $174.2M $179.6M $180.6M
YoY Change -8.73% -8.19% -9.99%
Long-Term Investments
YoY Change
Other Assets $26.30M $27.35M $30.29M
YoY Change -22.35% -18.95% 1.13%
Total Long-Term Assets $608.2M $626.2M $643.4M
YoY Change -9.08% -9.31% -8.72%
TOTAL ASSETS
Total Short-Term Assets $442.2M $426.1M $434.5M
Total Long-Term Assets $608.2M $626.2M $643.4M
Total Assets $1.050B $1.052B $1.078B
YoY Change -3.8% -5.68% -4.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.68M $54.74M $60.65M
YoY Change 23.52% -1.5% 21.28%
Accrued Expenses $51.69M $46.34M $41.54M
YoY Change -3.26% 2.11% 2.44%
Deferred Revenue $50.73M $47.88M $47.56M
YoY Change 19.34% 5.91% 10.07%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.03M $37.60M $44.05M
YoY Change 9.83% 106.21% 147.61%
Total Short-Term Liabilities $194.2M $195.8M $204.8M
YoY Change 12.74% 12.29% 27.11%
LONG-TERM LIABILITIES
Long-Term Debt $135.0M $134.9M $134.8M
YoY Change -15.87% -15.89% -20.76%
Other Long-Term Liabilities $19.55M $20.51M $23.20M
YoY Change -26.38% -21.27% -1.57%
Total Long-Term Liabilities $19.55M $20.51M $23.20M
YoY Change -26.38% -21.27% -1.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $194.2M $195.8M $204.8M
Total Long-Term Liabilities $19.55M $20.51M $23.20M
Total Liabilities $376.2M $380.4M $389.9M
YoY Change -2.88% -3.41% -0.61%
SHAREHOLDERS EQUITY
Retained Earnings $269.1M $267.0M $272.1M
YoY Change -10.71% -15.1% -17.47%
Common Stock $1.121B $1.109B $1.108B
YoY Change 1.55% 0.61% 0.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $626.6M $626.6M $626.6M
YoY Change 0.16% 0.18% 0.17%
Treasury Stock Shares 12.68M shares 12.68M shares 12.68M shares
Shareholders Equity $674.1M $671.9M $688.1M
YoY Change
Total Liabilities & Shareholders Equity $1.050B $1.052B $1.078B
YoY Change -3.8% -5.68% -4.13%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $2.143M -$5.144M -$9.424M
YoY Change -116.43% -66.32% -40.39%
Depreciation, Depletion And Amortization $11.30M $12.00M $17.82M
YoY Change -23.13% -23.08% -17.21%
Cash From Operating Activities $29.03M $700.0K -$10.74M
YoY Change 337.23% -96.87% 27.54%
INVESTING ACTIVITIES
Capital Expenditures $6.810M $3.595M $2.858M
YoY Change 85.76% 12.66% -30.63%
Acquisitions
YoY Change
Other Investing Activities $476.0K -$7.360M $67.00K
YoY Change -81.36% -667.9% -29.47%
Cash From Investing Activities -$6.334M -$10.95M -$2.056M
YoY Change 469.09% 503.58% -13.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.19M -6.484M -$1.223M
YoY Change 3605.09% -48.18% -81.49%
NET CHANGE
Cash From Operating Activities 29.03M 700.0K -$10.74M
Cash From Investing Activities -6.334M -10.95M -$2.056M
Cash From Financing Activities -10.19M -6.484M -$1.223M
Net Change In Cash 12.51M -16.74M -$13.69M
YoY Change 138.15% -309.08% -21.74%
FREE CASH FLOW
Cash From Operating Activities $29.03M $700.0K -$10.74M
Capital Expenditures $6.810M $3.595M $2.858M
Free Cash Flow $22.22M -$2.895M -$13.59M
YoY Change 647.33% -115.12% 8.42%

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CY2021Q1 ois Fixed Asset Impairment Charges Tax
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CY2021Q2 ois Operating Lease Impairment Loss Tax
OperatingLeaseImpairmentLossTax
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ois Increase Decrease In Payroll Tax Expense Cares Act
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Amortization Of Intangible Assets
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 ois Income Loss From Continuing Operations Net Of Tax Attributable To Nonvested Restricted Stock
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ois Income Loss From Continuing Operations Net Of Tax Attributable To Nonvested Restricted Stock
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ois Income Loss From Continuing Operations Net Of Tax Attributable To Nonvested Restricted Stock
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q2 us-gaap Dilutive Securities
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CY2021Q2 us-gaap Dilutive Securities
DilutiveSecurities
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us-gaap Dilutive Securities
DilutiveSecurities
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us-gaap Dilutive Securities
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q2 ois Weighted Average Number Of Common Shares Outstanding
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CY2021Q2 ois Weighted Average Number Of Common Shares Outstanding
WeightedAverageNumberOfCommonSharesOutstanding
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ois Weighted Average Number Of Common Shares Outstanding
WeightedAverageNumberOfCommonSharesOutstanding
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ois Weighted Average Number Of Common Shares Outstanding
WeightedAverageNumberOfCommonSharesOutstanding
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CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
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us-gaap Weighted Average Number Of Shares Restricted Stock
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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EarningsPerShareDiluted
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CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q2 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
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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388000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
CY2022Q1 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
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CY2021Q1 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
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ois Sharebased Compensation Arrangementby Sharebased Payment Award Performance Period
SharebasedCompensationArrangementbySharebasedPaymentAwardPerformancePeriod
P3Y
CY2022Q1 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
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CY2021Q1 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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1900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4700000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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us-gaap Number Of Reportable Segments
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CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q2 us-gaap Depreciation And Amortization
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CY2022Q2 us-gaap Operating Income Loss
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CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q2 us-gaap Assets
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Depreciation And Amortization
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CY2021Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3191000 usd
CY2021Q2 us-gaap Assets
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Depreciation And Amortization
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us-gaap Operating Income Loss
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q2 us-gaap Assets
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Depreciation And Amortization
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us-gaap Operating Income Loss
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2021Q2 us-gaap Assets
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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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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
141600000 usd
CY2022Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2022Q2 ois Revenue Remaining Performance Obligation Percentage Remaining Fiscal Year
RevenueRemainingPerformanceObligationPercentageRemainingFiscalYear
0.26
CY2022Q2 ois Revenue Remaining Performance Obligation Percentage Remaining In Year Two And Thereafter
RevenueRemainingPerformanceObligationPercentageRemainingInYearTwoAndThereafter
0.41
CY2020Q4 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
7300000 usd
CY2020Q3 ois Income Tax Receivable Net Operating Loss Cares Act
IncomeTaxReceivableNetOperatingLossCARESAct
19000000 usd

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