2024 Q3 Form 10-Q Financial Statement

#000151133724000025 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $345.7M $369.3M
YoY Change 3.39% 3.46%
Cost Of Revenue $223.6M $224.8M
YoY Change 4.73% 6.12%
Gross Profit $122.1M $144.5M
YoY Change 1.03% -0.44%
Gross Profit Margin 35.33% 39.12%
Selling, General & Admin $36.94M $42.69M
YoY Change -11.42% 8.6%
% of Gross Profit 30.24% 29.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.89M $44.47M
YoY Change 0.43% -1.0%
% of Gross Profit 36.75% 30.78%
Operating Expenses $305.6M $312.1M
YoY Change 1.89% 270.47%
Operating Profit -$183.5M -$167.6M
YoY Change 2.48% -375.34%
Interest Expense $28.64M $28.05M
YoY Change 15.34% -245.24%
% of Operating Profit
Other Income/Expense, Net $791.0K $687.0K
YoY Change -58.82% -6.66%
Pretax Income $21.02M $37.68M
YoY Change 26.07% -10.44%
Income Tax $379.0K $393.0K
% Of Pretax Income 1.8% 1.04%
Net Earnings $20.60M $37.11M
YoY Change 25.39% 7.34%
Net Earnings / Revenue 5.96% 10.05%
Basic Earnings Per Share $0.09 $0.20
Diluted Earnings Per Share $0.09 $0.20
COMMON SHARES
Basic Shares Outstanding 155.0M shares 155.9M shares
Diluted Shares Outstanding 153.2M shares 154.1M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $385.4M $371.1M
YoY Change -22.08% -22.18%
Cash & Equivalents $385.4M $371.1M
Short-Term Investments
Other Short-Term Assets $43.25M $66.97M
YoY Change -42.18% -18.93%
Inventory
Prepaid Expenses
Receivables $26.44M $30.92M
Other Receivables $0.00 $0.00
Total Short-Term Assets $455.1M $469.0M
YoY Change -26.29% -22.0%
LONG-TERM ASSETS
Property, Plant & Equipment $4.387B $4.406B
YoY Change 2.5% 2.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.237M $7.386M
YoY Change -0.86% -1.26%
Other Assets $38.96M $36.08M
YoY Change 8.82% 4.9%
Total Long-Term Assets $4.433B $4.449B
YoY Change 2.54% 2.72%
TOTAL ASSETS
Total Short-Term Assets $455.1M $469.0M
Total Long-Term Assets $4.433B $4.449B
Total Assets $4.888B $4.918B
YoY Change -1.06% -0.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.9M $149.7M
YoY Change 2.81% 17.95%
Accrued Expenses $131.6M $141.8M
YoY Change -0.59% -0.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $317.0M $314.1M
YoY Change 3.76% 8.84%
LONG-TERM LIABILITIES
Long-Term Debt $2.219B $2.223B
YoY Change -0.04% 0.18%
Other Long-Term Liabilities $36.64M $33.48M
YoY Change 18.2% 33.68%
Total Long-Term Liabilities $2.255B $2.256B
YoY Change 0.21% 0.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $317.0M $314.1M
Total Long-Term Liabilities $2.255B $2.256B
Total Liabilities $2.572B $2.570B
YoY Change 0.63% 0.93%
SHAREHOLDERS EQUITY
Retained Earnings -$1.066B -$1.057B
YoY Change 2.39% 2.08%
Common Stock $2.992B $3.002B
YoY Change -0.43% -0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.302B $2.334B
YoY Change
Total Liabilities & Shareholders Equity $4.888B $4.918B
YoY Change -1.06% -0.29%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $20.60M $37.11M
YoY Change 25.39% 7.34%
Depreciation, Depletion And Amortization $44.89M $44.47M
YoY Change 0.43% -1.0%
Cash From Operating Activities $80.10M $113.5M
YoY Change -10.1% 19.38%
INVESTING ACTIVITIES
Capital Expenditures $34.68M $38.58M
YoY Change -4.21% 16.42%
Acquisitions
YoY Change
Other Investing Activities $13.46M -$28.49M
YoY Change 64643.18%
Cash From Investing Activities -$21.21M -$67.07M
YoY Change -41.4% 102.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.76M -30.21M
YoY Change 23.55% -46.21%
NET CHANGE
Cash From Operating Activities 80.10M 113.5M
Cash From Investing Activities -21.21M -67.07M
Cash From Financing Activities -41.76M -30.21M
Net Change In Cash 17.13M 16.26M
YoY Change -10.32% 182.42%
FREE CASH FLOW
Cash From Operating Activities $80.10M $113.5M
Capital Expenditures $34.68M $38.58M
Free Cash Flow $45.42M $74.95M
YoY Change -14.13% 20.96%

Facts In Submission

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us-gaap Comparability Of Prior Year Financial Data
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<div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income and comprehensive income, shareholders’ equity or cash flows.</span></div>
us-gaap Use Of Estimates
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<div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
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CY2024Q2 rlj Incremental Performance Units Attributable T
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CY2023Q2 rlj Incremental Performance Units Attributable T
IncrementalPerformanceUnitsAttributableT
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IncrementalPerformanceUnitsAttributableT
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 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 Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
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EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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EarningsPerShareDiluted
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CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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1924000 usd
us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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8630000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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rlj Right Of Use Asset And Operating Lease Liability Remeasurement Adjustment
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rlj Right Of Use Asset And Lease Liability Reclassifications To Land Due To Acquisition
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rlj Right Of Use Asset And Lease Liability Reclassifications To Land Due To Acquisition
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rlj Payment For Asset Acquisitions
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160500000 usd
rlj Payment For Asset Acquisitions
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IncreaseDecreaseInDepositOtherAssets
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us-gaap Increase Decrease In Deposit Other Assets
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us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
488000 usd
us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
0 usd
rlj Asset Acquisition Operating Prorations
AssetAcquisitionOperatingProrations
243000 usd
rlj Asset Acquisition Operating Prorations
AssetAcquisitionOperatingProrations
0 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
158345000 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
0 usd
rlj Gross Proceedsfrom Saleof Real Estate Heldforinvestment
GrossProceedsfromSaleofRealEstateHeldforinvestment
8078000 usd
rlj Gross Proceedsfrom Saleof Real Estate Heldforinvestment
GrossProceedsfromSaleofRealEstateHeldforinvestment
0 usd
rlj Disposal Group Costof Dispositionof Property Plantand Equipment
DisposalGroupCostofDispositionofPropertyPlantandEquipment
394000 usd
rlj Disposal Group Costof Dispositionof Property Plantand Equipment
DisposalGroupCostofDispositionofPropertyPlantandEquipment
44000 usd
rlj Noncash Divestiture Of Other Assets
NoncashDivestitureOfOtherAssets
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NoncashDivestitureOfOtherAssets
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
7679000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
44000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
18440000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10854000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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false

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