2022 Q3 Form 10-Q Financial Statement

#000114519722000046 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $340.8M $299.4M $295.4M
YoY Change 340700.0% 13.75% 17.08%
Cost Of Revenue $152.5M $109.1M $85.70M
YoY Change 75.49% 35.53% 1.06%
Gross Profit $188.3M $190.3M $209.7M
YoY Change -0.21% 4.16% 25.19%
Gross Profit Margin 55.25% 63.56% 70.99%
Selling, General & Admin $140.4M $174.4M $128.7M
YoY Change 19.49% 49.96% 16.47%
% of Gross Profit 74.56% 91.64% 61.37%
Research & Development $45.00M $42.60M $43.10M
YoY Change 20.0% 6.23% 5.9%
% of Gross Profit 23.9% 22.39% 20.55%
Depreciation & Amortization $15.90M $15.80M $15.30M
YoY Change 9.66% 3.95% 19.53%
% of Gross Profit 8.44% 8.3% 7.3%
Operating Expenses $45.00M $42.60M $43.10M
YoY Change 20.0% 6.23% 5.9%
Operating Profit $2.900M -$26.70M $37.90M
YoY Change -91.39% -201.52% 132.52%
Interest Expense $9.200M $9.100M $9.000M
YoY Change -43.9% -45.18% -33.82%
% of Operating Profit 317.24% 23.75%
Other Income/Expense, Net -$1.800M -$1.100M $300.0K
YoY Change 157.14% -161.11% -111.54%
Pretax Income -$5.700M -$36.10M $29.30M
YoY Change -137.5% 27.11% 9666.67%
Income Tax -$500.0K -$1.100M $1.500M
% Of Pretax Income 5.12%
Net Earnings -$5.200M -$35.00M $27.80M
YoY Change -141.27% 40.0%
Net Earnings / Revenue -1.53% -11.69% 9.41%
Basic Earnings Per Share -$0.08 -$0.50 $0.40
Diluted Earnings Per Share -$0.08 -$0.50 $0.40
COMMON SHARES
Basic Shares Outstanding 69.40M shares 69.36M shares 69.25M shares
Diluted Shares Outstanding 69.42M shares 69.36M shares 69.86M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $671.1M $657.4M $708.5M
YoY Change -21.7% -24.62% -16.67%
Cash & Equivalents $737.1M $723.8M $724.9M
Short-Term Investments
Other Short-Term Assets $129.0M $124.7M $72.80M
YoY Change 62.47% 45.85% -4.71%
Inventory $327.6M $320.4M $314.8M
Prepaid Expenses
Receivables $153.1M $154.1M $153.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.329B $1.309B $1.285B
YoY Change 1.7% 4.49% 7.85%
LONG-TERM ASSETS
Property, Plant & Equipment $553.1M $535.8M $538.2M
YoY Change 7.31% 5.99% 8.09%
Goodwill $51.60M $51.80M $51.80M
YoY Change 29.65% 29.82% 30.15%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $178.7M $161.9M $141.0M
YoY Change 79.42% 75.98% 74.29%
Total Long-Term Assets $837.1M $804.6M $783.8M
YoY Change 20.97% 19.95% 20.9%
TOTAL ASSETS
Total Short-Term Assets $1.329B $1.309B $1.285B
Total Long-Term Assets $837.1M $804.6M $783.8M
Total Assets $2.166B $2.114B $2.069B
YoY Change 8.37% 9.88% 12.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.10M $57.20M $52.20M
YoY Change 7.07% 16.02% -11.68%
Accrued Expenses $241.7M $192.5M $135.8M
YoY Change 70.57% 34.52% 22.67%
Deferred Revenue $9.000M $6.300M $3.800M
YoY Change 157.14% 96.88% 8.57%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.90M $26.30M $25.70M
YoY Change -6.92% 25.84% 63.69%
Total Short-Term Liabilities $334.2M $279.3M $215.0M
YoY Change 46.19% 30.94% 15.9%
LONG-TERM LIABILITIES
Long-Term Debt $1.380B $1.385B $1.391B
YoY Change 9.77% 12.14% 32.23%
Other Long-Term Liabilities $24.20M $26.80M $17.00M
YoY Change 57.14% 66.46% -3.95%
Total Long-Term Liabilities $1.404B $1.412B $1.408B
YoY Change 10.34% 12.84% 31.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $334.2M $279.3M $215.0M
Total Long-Term Liabilities $1.404B $1.412B $1.408B
Total Liabilities $1.738B $1.691B $1.623B
YoY Change 15.8% 15.48% 29.3%
SHAREHOLDERS EQUITY
Retained Earnings -$601.3M -$596.1M -$561.1M
YoY Change -11.4% -13.77% -15.79%
Common Stock $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $428.0M $422.4M $446.7M
YoY Change
Total Liabilities & Shareholders Equity $2.166B $2.114B $2.069B
YoY Change 8.37% 9.88% 12.45%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$5.200M -$35.00M $27.80M
YoY Change -141.27% 40.0%
Depreciation, Depletion And Amortization $15.90M $15.80M $15.30M
YoY Change 9.66% 3.95% 19.53%
Cash From Operating Activities $56.70M $25.30M -$13.70M
YoY Change -319.77% 38.25% -60.97%
INVESTING ACTIVITIES
Capital Expenditures -$33.90M -$19.10M $12.80M
YoY Change 16.1% -17.67% -61.09%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.800M -$31.00M
YoY Change -100.0% -123.73% -389.72%
Cash From Investing Activities -$33.90M -$21.90M -$46.90M
YoY Change 177.87% 92.11% 106.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.900M -1.600M -$20.30M
YoY Change -109.24% -105.63% -28.52%
NET CHANGE
Cash From Operating Activities 56.70M 25.30M -$13.70M
Cash From Investing Activities -33.90M -21.90M -$46.90M
Cash From Financing Activities -3.900M -1.600M -$20.30M
Net Change In Cash 18.90M 1.800M -$81.50M
YoY Change 350.0% -94.9% -5.78%
FREE CASH FLOW
Cash From Operating Activities $56.70M $25.30M -$13.70M
Capital Expenditures -$33.90M -$19.10M $12.80M
Free Cash Flow $90.60M $44.40M -$26.50M
YoY Change 2564.71% 6.99% -61.03%

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us-gaap Net Income Loss
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification of Prior Period Amounts</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to prior period amounts to conform to the current period financial statement presentation. T</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he Company reclassified the change in unbilled receivables from the change in prepaid expenses and other current assets to the change in accounts receivable in the prior year statement of cash flows in the amount of $6.4 million. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There was no change to previously reported net cash used in operating activities.</span></div>
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CY2022Q2 us-gaap Accounts Receivable Net Current
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CY2022Q2 us-gaap Inventory Raw Materials
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CY2021Q4 us-gaap Inventory Raw Materials
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CY2022Q2 us-gaap Inventory Work In Process
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CY2021Q4 us-gaap Inventory Work In Process
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CY2021Q4 us-gaap Inventory Finished Goods
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CY2022Q2 us-gaap Inventory Net
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CY2021Q4 us-gaap Inventory Net
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CY2022Q2 podd Capitalized Computer Software Gross Current
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CY2021Q4 podd Capitalized Computer Software Gross Current
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CY2022Q2 podd Capitalized Computer Software Gross Noncurrent
CapitalizedComputerSoftwareGrossNoncurrent
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CY2021Q4 podd Capitalized Computer Software Gross Noncurrent
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CY2022Q2 us-gaap Capitalized Computer Software Gross
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CY2021Q4 us-gaap Capitalized Computer Software Gross
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CY2022Q2 us-gaap Capitalized Computer Software Accumulated Amortization
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CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
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CY2022Q2 us-gaap Capitalized Computer Software Net
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CY2021Q4 us-gaap Capitalized Computer Software Net
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CY2022Q2 us-gaap Capitalized Computer Software Amortization1
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us-gaap Capitalized Computer Software Amortization1
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us-gaap Capitalized Computer Software Amortization1
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us-gaap Amortization Of Intangible Assets
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CY2021Q4 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q2 us-gaap Finite Lived Intangible Assets Net
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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CY2022Q2 us-gaap Amortization Of Intangible Assets
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CY2021Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2022Q2 us-gaap Accrued Professional Fees Current
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CY2022Q2 podd Accrued Legal Settlement
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CY2021Q4 podd Accrued Legal Settlement
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CY2022Q2 us-gaap Accounts Payable Trade Current
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CY2021Q4 us-gaap Other Accrued Liabilities Current
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CY2022Q2 us-gaap Accrued Liabilities Current
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CY2022Q1 us-gaap Product Warranty Accrual
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CY2021Q1 us-gaap Product Warranty Accrual
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CY2021Q4 us-gaap Product Warranty Accrual
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CY2020Q4 us-gaap Product Warranty Accrual
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CY2022Q2 us-gaap Product Warranty Accrual Warranties Issued
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CY2021Q2 us-gaap Product Warranty Accrual Warranties Issued
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us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11100000 usd
us-gaap Product Warranty Accrual Warranties Issued
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CY2022Q2 us-gaap Product Warranty Accrual Payments
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CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11600000 usd
CY2021Q2 us-gaap Product Warranty Accrual
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6500000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11600000 usd
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
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CY2021Q4 us-gaap Debt Instrument Unamortized Discount
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CY2022Q2 us-gaap Deferred Finance Costs Net
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CY2021Q4 us-gaap Deferred Finance Costs Net
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CY2022Q2 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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CY2022Q2 us-gaap Long Term Debt Current
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CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
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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 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
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2021Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022Q2 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8100000 usd
CY2021Q2 us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Interest Expense Debt Excluding Amortization
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10500000 usd
CY2022Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
300000 usd
CY2021Q2 us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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CY2021Q2 us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
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CY2022Q2 us-gaap Interest Costs Capitalized Adjustment
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CY2021Q2 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3800000 usd
CY2022Q2 us-gaap Interest Expense
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
18100000 usd
us-gaap Interest Expense
InterestExpense
30200000 usd
CY2022Q2 us-gaap Interest And Dividend Income Operating
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CY2021Q2 us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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CY2021Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.121
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2022Q2 us-gaap Unrecognized Tax Benefits
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66696000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69305000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66406000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4511000 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8256000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4493000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8689000 shares

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