2017 Q2 Form 10-Q Financial Statement

#000156459017015355 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.00M $8.900M
YoY Change 68.54% 36.92%
% of Gross Profit
Research & Development $55.90M $26.10M
YoY Change 114.21% 40.28%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $70.85M $35.01M
YoY Change 102.41% 39.69%
Operating Profit -$70.85M -$35.01M
YoY Change 102.41% 39.69%
Interest Expense $700.0K $266.0K
YoY Change 163.16% 548.78%
% of Operating Profit
Other Income/Expense, Net $0.00 -$7.000K
YoY Change -100.0% -22.22%
Pretax Income -$70.20M -$34.70M
YoY Change 102.31% 38.8%
Income Tax
% Of Pretax Income
Net Earnings -$70.20M -$34.75M
YoY Change 102.04% 38.84%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.877M -$1.081M
COMMON SHARES
Basic Shares Outstanding 37.36M 32.06M
Diluted Shares Outstanding 37.36M 32.06M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $285.9M $272.3M
YoY Change 5.0% 21.45%
Cash & Equivalents $133.5M $189.0M
Short-Term Investments $152.5M $83.29M
Other Short-Term Assets $5.200M $1.800M
YoY Change 188.89% -45.45%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $291.1M $274.1M
YoY Change 6.2% 20.48%
LONG-TERM ASSETS
Property, Plant & Equipment $1.400M $959.0K
YoY Change 45.99% 236.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $600.0K
YoY Change 33.33% -14.29%
Total Long-Term Assets $2.300M $1.523M
YoY Change 51.02% 57.82%
TOTAL ASSETS
Total Short-Term Assets $291.1M $274.1M
Total Long-Term Assets $2.300M $1.523M
Total Assets $293.4M $275.6M
YoY Change 6.45% 20.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.000M $5.957M
YoY Change 0.72% 14.67%
Accrued Expenses $4.100M $12.38M
YoY Change -66.89% 139.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.30M $18.34M
YoY Change 76.13% 66.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $800.0K $82.00K
YoY Change 875.61% 272.73%
Total Long-Term Liabilities $800.0K $82.00K
YoY Change 875.61% 272.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.30M $18.34M
Total Long-Term Liabilities $800.0K $82.00K
Total Liabilities $33.10M $18.42M
YoY Change 79.69% 67.13%
SHAREHOLDERS EQUITY
Retained Earnings -$226.6M
YoY Change 108.41%
Common Stock $483.8M
YoY Change 48.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $260.3M $257.2M
YoY Change
Total Liabilities & Shareholders Equity $293.4M $275.6M
YoY Change 6.45% 20.64%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$70.20M -$34.75M
YoY Change 102.04% 38.84%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$59.10M -$26.70M
YoY Change 121.35% 45.11%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$500.0K
YoY Change -80.0% 400.0%
Acquisitions
YoY Change
Other Investing Activities $44.70M -$83.50M
YoY Change -153.53%
Cash From Investing Activities $44.60M -$84.10M
YoY Change -153.03% 84000.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.700M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -59.10M -26.70M
Cash From Investing Activities 44.60M -84.10M
Cash From Financing Activities 2.700M 0.000
Net Change In Cash -11.80M -110.8M
YoY Change -89.35% -199.73%
FREE CASH FLOW
Cash From Operating Activities -$59.10M -$26.70M
Capital Expenditures -$100.0K -$500.0K
Free Cash Flow -$59.00M -$26.20M
YoY Change 125.19% 43.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
321000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
835000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
285000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
75908000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-35067000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3311000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
312000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
5000
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
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us-gaap Depreciation
Depreciation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
110436000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
33922000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Operations</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Sage Therapeutics, Inc. (&#8220;Sage&#8221; or the &#8220;Company&#8221;) is a clinical-stage biopharmaceutical company committed to developing and commercializing novel medicines to treat life-altering central nervous system, or CNS, disorders, where there are no approved therapies or existing therapies are inadequate.&nbsp;&nbsp;The Company has a portfolio of product candidates with a current focus on modulating two critical CNS receptor systems, GABA and NMDA.&nbsp;&nbsp;The GABA receptor family, which is recognized as the major inhibitory neurotransmitter in the CNS, mediates downstream neurologic and bodily function via activation of GABA<sub style="font-size:85%; vertical-align:bottom">A</sub> receptors.&nbsp;&nbsp;The NMDA-type receptors of the glutamate receptor system are a major excitatory receptor system in the CNS.&nbsp;&nbsp;Dysfunction in these systems is implicated in a broad range of CNS disorders.&nbsp;&nbsp;The Company is targeting CNS indications where patient populations are easily identified, clinical endpoints are well-defined, and development pathways are feasible.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company was incorporated under the laws of the State of Delaware on April&#160;16, 2010, and commenced operations on January&#160;19, 2011 as Sterogen Biopharma, Inc. On September&#160;13, 2011, the Company changed its name to Sage Therapeutics, Inc.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to risks and uncertainties common to companies in the biotech industry, including, but not limited to, the risks associated with developing product candidates at each stage of non-clinical and clinical development; the challenges associated with gaining regulatory approval of such product candidates; the risks associated with commercializing pharmaceutical products, if approved for marketing and sale; the potential for development by third parties of new technological innovations that may compete with the Company&#8217;s products; the dependence on key personnel; the challenges of protecting proprietary technology; the need to comply with government regulations; the high costs of drug development; and the uncertainty of being able to secure additional capital when needed to fund operations.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred losses and negative cash flows from operations since its inception. As of June&#160;30, 2017, the Company had an accumulated deficit of $447.3&#160;million. From its inception through June&#160;30, 2017, the Company received net proceeds of $643.3 million from the sales of redeemable convertible preferred stock, the issuance of convertible notes, and the proceeds from its initial public offering (&#8220;IPO&#8221;) in July 2014 and follow-on underwritten public offerings in April 2015, January 2016 and September 2016. <font style="letter-spacing:-0.1pt;">Until such time, if ever, as the Company can generate substantial product revenue, the Company expects to finance its cash needs through a combination of equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other sources of funding.&nbsp;&nbsp;If the Company is unable to raise additional funds through equity or debt financings when needed, the Company may be required to delay, limit, reduce or terminate product development or future commercialization efforts or grant rights to develop and market products or product candidates that the Company would otherwise prefer to develop and market itself.</font></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Based on its current operating plans, the Company believes its cash, cash equivalents and marketable securities of $285.9&#160;million as of June&#160;30, 2017 will be sufficient to fund its anticipated level of operations and capital expenditures into the second quarter of 2018.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under Accounting Standards Update, or ASU, 2014-15, <font style="font-style:italic;">Presentation of Financial Statements&#8212;Going Concern</font> (Subtopic 205-40), or ASC 205-40, the Company has the responsibility to evaluate whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements are issued.<font style="color:#000000;">&#160;&#160;</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company anticipates that its current capital resources will enable it to meet its anticipated operational expenses and capital expenditures into the second quarter of calendar year 2018<font style="color:#000000;">. As of June&#160;30, 2017, management has assessed the Company&#8217;s ability to continue as a going concern in accordance with the requirements of ASC 205-40.&nbsp;&nbsp;Management has determined that the Company&#8217;s accumulated deficit, history of losses, and future expected losses meet the ASC 205-40 standard for raising substantial doubt about the Company&#8217;s ability to continue as a going concern within one year of the issuance date of these condensed consolidated financial statements. As of June&#160;30, 2017, the Company had an accumulated deficit of $447.3 million and cash, cash equivalents and short-term investments on hand of $285.9 million. The Company is currently forecasting a significant increase in expenditures to support </font><font style="Background-color:#FFFFFF;">potential filings of New Drug Applications, or NDAs, for brexanolone in super-refractory status epilepticus, or SRSE, and in postpartum depression, or PPD, in the U.S. and future potential regulatory filings in the European Union, or EU</font><font style="color:#000000;">, continued</font><font style="Background-color:#FFFFFF;"> preparations for a potential future commercial launch of brexanolone, and spending on other clinical programs in development. The Company&#8217;s current financial resources would not be sufficient to fund the Company&#8217;s currently forecasted operating plan for a one year period from the issuance of these condensed consolidated financial statements.&nbsp;&nbsp;</font><font style="color:#000000;">The Company has developed plans to mitigate this risk, which primarily consist of raising additional capital through a combination of equity or debt financings, and, depending on the availability and level of additional financings, potentially new collaborations and reducing cash expenditures.</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company currently expects to seek additional funding. While the Company has raised capital in the past, the ability to raise capital in future periods is not considered probable, as defined under the accounting standards. As such, under the requirements of ASC 205-40, management may not consider the potential for future capital raises in their assessment of the Company&#8217;s ability to meet its obligations for the next 12 months.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If the Company is not able to secure adequate additional funding, the Company plans to make reductions in spending. In that event, the Company may have to delay, reduce the scope of, suspend or eliminate one or more research and development programs or reduce spending and hiring in connection with the Company&#8217;s commercialization efforts. The actions necessary to reduce spending under this plan at a level that mitigates the factors described above is not considered probable, as defined in the accounting standards; as such, under the requirements of ASC 205-40, the full extent to which management may extend the Company&#8217;s funds through these actions may not be considered in management&#8217;s assessment of the Company&#8217;s ability to continue as a going concern for the next 12 months as defined by ASC-205-40.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As a result, in accordance with the requirements of ASC 205-40, management has concluded that it is required to disclose that substantial doubt exists about the Company&#8217;s ability to continue as a going concern for one year from the date these financial statements are issued. While management has plans in place to mitigate these actions, they are not considered probable, as defined in the accounting standards, and a failure to raise the additional funding or to effectively implement cost reductions could harm the Company&#8217;s business, results of operations and future prospects.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The accompanying unaudited interim condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from uncertainty related to the ability to continue as a going concern.</p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p></div>
CY2017Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
285900000
CY2017Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
133450000
CY2017Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
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CY2017Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
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CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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CY2016Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
228962000
CY2016Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
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CY2017Q2 sage Fair Value Assets Transfers Among Level1 Level2 And Level3 Amount
FairValueAssetsTransfersAmongLevel1Level2AndLevel3Amount
0
CY2016Q2 sage Fair Value Assets Transfers Among Level1 Level2 And Level3 Amount
FairValueAssetsTransfersAmongLevel1Level2AndLevel3Amount
0
CY2017Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2017Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2017Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2016Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2016Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2016Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
104000
CY2016Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
228962000
CY2017Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2017Q2 sage Accrued Development Expenses Current
AccruedDevelopmentExpensesCurrent
19305000
CY2016Q4 sage Accrued Development Expenses Current
AccruedDevelopmentExpensesCurrent
14541000
CY2017Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4142000
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5948000
CY2017Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
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CY2016Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1751000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
112000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
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CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4444000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4537000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4632000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4728000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32062298
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37315393
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5352918
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
8935000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
28781000
CY2016Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3157894
CY2016Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
47.50
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9350000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4465000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15558000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8179000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
39.62
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.23
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37361129
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32062298
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37315393
CY2017Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2016Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37361129

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