2018 Q2 Form 10-K Financial Statement

#000108476519000011 Filed on July 19, 2019

View on sec.gov

Income Statement

Concept 2018 Q2 2018 2017 Q2
Revenue $183.8M $654.1M $148.6M
YoY Change 23.69% 12.12% -2.56%
Cost Of Revenue $113.4M $408.1M $90.60M
YoY Change 25.17% 12.7% -1.09%
Gross Profit $70.40M $246.1M $58.00M
YoY Change 21.38% 11.17% -4.76%
Gross Profit Margin 38.3% 37.62% 39.03%
Selling, General & Admin $55.20M $209.0M $46.00M
YoY Change 20.0% 13.94% 3.6%
% of Gross Profit 78.41% 84.96% 79.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.090M $6.390M $940.0K
YoY Change 122.34% 85.22% 9.3%
% of Gross Profit 2.97% 2.6% 1.62%
Operating Expenses $57.20M $209.0M $46.90M
YoY Change 21.96% 13.94% 3.76%
Operating Profit $13.20M $30.62M $11.10M
YoY Change 18.92% -10.98% -29.3%
Interest Expense -$600.0K $1.735M -$300.0K
YoY Change 100.0% 175.83% -400.0%
% of Operating Profit -4.55% 5.67% -2.7%
Other Income/Expense, Net
YoY Change
Pretax Income $8.900M $26.77M $8.300M
YoY Change 7.23% -17.34% -47.13%
Income Tax $4.600M $10.06M $3.900M
% Of Pretax Income 51.69% 37.58% 46.99%
Net Earnings $4.000M $18.83M $4.400M
YoY Change -9.09% 0.94% -49.43%
Net Earnings / Revenue 2.18% 2.88% 2.96%
Basic Earnings Per Share $0.61
Diluted Earnings Per Share $124.6K $0.60 $145.7K
COMMON SHARES
Basic Shares Outstanding 30.74M
Diluted Shares Outstanding 31.21M

Balance Sheet

Concept 2018 Q2 2018 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.50M $56.50M $62.30M
YoY Change -9.31% -9.31% -46.29%
Cash & Equivalents $56.47M $56.50M $62.33M
Short-Term Investments $0.00
Other Short-Term Assets $7.200M $7.200M $4.400M
YoY Change 63.64% 63.64% -6.38%
Inventory
Prepaid Expenses
Receivables $130.5M $130.5M $98.20M
Other Receivables $700.0K $700.0K $1.900M
Total Short-Term Assets $194.9M $194.9M $166.8M
YoY Change 16.84% 16.85% -23.7%
LONG-TERM ASSETS
Property, Plant & Equipment $22.41M $22.40M $23.40M
YoY Change -4.22% -4.27% 9.86%
Goodwill $192.0M $171.1M
YoY Change 12.19%
Intangibles $18.53M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.049M $4.900M $2.800M
YoY Change -26.82% 75.0% -54.84%
Total Long-Term Assets $237.8M $237.8M $197.3M
YoY Change 20.52% 20.53% -0.7%
TOTAL ASSETS
Total Short-Term Assets $194.9M $194.9M $166.8M
Total Long-Term Assets $237.8M $237.8M $197.3M
Total Assets $432.7M $432.7M $364.1M
YoY Change 18.83% 18.84% -12.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.30M $23.30M $14.10M
YoY Change 65.25% 65.25% 3.68%
Accrued Expenses $58.40M $58.40M $49.20M
YoY Change 18.7% 18.7% -1.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $94.52M $94.50M $71.80M
YoY Change 31.65% 31.62% 1.27%
LONG-TERM LIABILITIES
Long-Term Debt $63.00M $63.00M $48.00M
YoY Change 31.25% 31.25%
Other Long-Term Liabilities $6.325M $6.300M $4.900M
YoY Change 29.08% 28.57% 32.43%
Total Long-Term Liabilities $69.33M $69.30M $52.90M
YoY Change 31.05% 31.0% 1329.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.52M $94.50M $71.80M
Total Long-Term Liabilities $69.33M $69.30M $52.90M
Total Liabilities $163.8M $163.8M $126.0M
YoY Change 30.04% 30.0% 68.9%
SHAREHOLDERS EQUITY
Retained Earnings $335.7M
YoY Change
Common Stock $430.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $486.7M
YoY Change
Treasury Stock Shares $29.64M
Shareholders Equity $268.8M $268.8M $238.1M
YoY Change
Total Liabilities & Shareholders Equity $432.7M $432.7M $364.1M
YoY Change 18.83% 18.84% -12.75%

Cashflow Statement

Concept 2018 Q2 2018 2017 Q2
OPERATING ACTIVITIES
Net Income $4.000M $18.83M $4.400M
YoY Change -9.09% 0.94% -49.43%
Depreciation, Depletion And Amortization $2.090M $6.390M $940.0K
YoY Change 122.34% 85.22% 9.3%
Cash From Operating Activities $17.62M $15.37M $21.34M
YoY Change -17.43% -45.62% -31.62%
INVESTING ACTIVITIES
Capital Expenditures -$590.0K $2.213M -$740.0K
YoY Change -20.27% -53.71% 5.71%
Acquisitions $20.05M
YoY Change
Other Investing Activities $20.00K -$23.45M $20.00K
YoY Change 0.0% -193.09% 100.0%
Cash From Investing Activities -$580.0K -$25.67M -$720.0K
YoY Change -19.44% -225.76% 4.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.116M
YoY Change -95.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.760M 3.474M -3.090M
YoY Change 54.05% -104.52% -72.94%
NET CHANGE
Cash From Operating Activities 17.62M 15.37M 21.34M
Cash From Investing Activities -580.0K -25.67M -720.0K
Cash From Financing Activities -4.760M 3.474M -3.090M
Net Change In Cash 12.28M -5.859M 17.53M
YoY Change -29.95% -79.63% -8.22%
FREE CASH FLOW
Cash From Operating Activities $17.62M $15.37M $21.34M
Capital Expenditures -$590.0K $2.213M -$740.0K
Free Cash Flow $18.21M $13.16M $22.08M
YoY Change -17.53% -43.97% -30.81%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;">1.&nbsp;Description of the Company and its Business</font> </p> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">Resources Connection, Inc. (&#x201C;Resources Connection&#x201D;), a Delaware corporation, was incorporated on November&nbsp;16, 1998. The Company&#x2019;s operating entities provide services primarily under the name Resources Global Professionals (&#x201C;RGP&#x201D; or the &#x201C;Company&#x201D;). RGP is a global consulting firm that enables rapid business outcomes by bringing together the right people to create transformative change. As a human capital partner for our clients, the Company specialize</font><font style="display: inline;">s</font><font style="display: inline;"> in solving today&#x2019;s most pressing business problems across the enterprise in the areas of Business Transformation, Governance, Risk and Compliance and Technology and Digital Innovation. The Company has offices in the United States (&#x201C;U.S.&#x201D;), Asia, Australia, Canada, Europe and Mexico.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">The Company&#x2019;s fiscal year consists of 52 or 53&nbsp;weeks, ending on the Saturday in May closest to May&nbsp;31. Fiscal years 2019, 2018 and 2017 consisted of four 13 week quarters and a total of 52 weeks of activity for the fiscal year. For fiscal years of 53 weeks (which next occurs for fiscal 2020), the first three quarters consist of 13 weeks each and the fourth quarter consists of 14 weeks. </font> </p> <p><font size="1"> </font></p> </div> </div>
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240000
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1290000
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20047000
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5000000
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PreferredStockSharesAuthorized
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0
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PreferredStockSharesIssued
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PreferredStockValue
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
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7230000
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15000000
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24957000
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233000
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ProceedsFromSaleOfPropertyPlantAndEquipment
4000
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458000
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10000000
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20000000
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800000
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RestrictedStockExpense
1400000
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RestrictedStockExpense
1700000
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RetainedEarningsAccumulatedDeficit
335741000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
2400000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2252000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1595000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5051000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.303
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3547000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.09
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1100000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
21537
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
234858
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
158926
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
97017
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SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.030
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.031
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.032
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.384
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.345
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.347
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.346
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
183471000
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SellingGeneralAndAdministrativeExpense
209042000
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
223802000
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ShareBasedCompensation
6068000
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ShareBasedCompensation
6033000
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ShareBasedCompensation
6570000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
452
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.61
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.61
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.74
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12310000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5482000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6869000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6029000
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
31466000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.10
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.95
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y22D
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
5472000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
5789000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.86
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y11M5D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3600000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
5100000
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
5400000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
1290000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.72
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
18.85
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
15.91
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.96
CY2019 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y3M18D
CY2019Q2 us-gaap Share Price
SharePrice
15.56
CY2019Q2 us-gaap Short Term Investments
ShortTermInvestments
5981000
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
342649000
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
238142000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
268825000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
282396000
CY2017 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
117588
CY2018 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
117588
CY2019 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
21537
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1444000
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4493000
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3950000
CY2019 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4499000
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3856000
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6489000
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
19809000
CY2019Q2 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
500000
CY2018Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
3300000
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
29638000
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
486722000
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
516103000
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
118886000
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5116000
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
29891000
CY2019Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
17600000
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
42000
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
42000
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
42000
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
42000
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
42000
CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 0pt 11.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;">Use of Estimates</font> </p> <p style="margin:0pt 0pt 0pt 11.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates and assumptions are adequate, actual results could differ from the estimates and assumptions used.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
620000
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
469000
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
611000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33471000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31210000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32207000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32851000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30741000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31596000

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