2022 Q4 Form 10-Q Financial Statement

#000162828022028278 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $29.59M $25.82M
YoY Change 24.6% 31.03%
Cost Of Revenue $22.75M $19.90M
YoY Change 15.57% 28.85%
Gross Profit $6.838M $5.915M
YoY Change 68.38% 38.95%
Gross Profit Margin 23.11% 22.91%
Selling, General & Admin $3.548M $3.658M
YoY Change -13.99% -40.57%
% of Gross Profit 51.89% 61.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.075M $2.004M
YoY Change -9.47% -13.77%
% of Gross Profit 30.35% 33.88%
Operating Expenses $5.623M $3.658M
YoY Change -12.37% -40.57%
Operating Profit $1.215M $2.257M
YoY Change -151.57% -218.91%
Interest Expense -$398.0K $199.0K
YoY Change -194.09% -5075.0%
% of Operating Profit -32.76% 8.82%
Other Income/Expense, Net -$86.00K -$227.0K
YoY Change -309.76% 26.11%
Pretax Income $731.0K $909.0K
YoY Change -138.64% -120.06%
Income Tax $513.0K -$115.0K
% Of Pretax Income 70.18% -12.65%
Net Earnings -$335.0K -$277.0K
YoY Change -85.71% -94.01%
Net Earnings / Revenue -1.13% -1.07%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 18.39M shares 18.28M shares
Diluted Shares Outstanding 18.60M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.45M $11.10M
YoY Change 455.87% 277.88%
Cash & Equivalents $11.45M $11.10M
Short-Term Investments
Other Short-Term Assets $3.981M $8.834M
YoY Change 118.98% 271.96%
Inventory $205.0K $214.0K
Prepaid Expenses
Receivables $16.33M $10.38M
Other Receivables $254.0K $0.00
Total Short-Term Assets $32.22M $30.53M
YoY Change 107.41% 103.66%
LONG-TERM ASSETS
Property, Plant & Equipment $48.44M $48.70M
YoY Change -11.96% -13.01%
Goodwill $4.314M $4.314M
YoY Change -3.12% -3.12%
Intangibles
YoY Change
Long-Term Investments $11.61M $10.42M
YoY Change -5.83% -12.57%
Other Assets $774.0K $565.0K
YoY Change 128.99% 77.12%
Total Long-Term Assets $64.36M $63.44M
YoY Change -10.36% -12.72%
TOTAL ASSETS
Total Short-Term Assets $32.22M $30.53M
Total Long-Term Assets $64.36M $63.44M
Total Assets $96.58M $93.96M
YoY Change 10.58% 7.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.474M $1.781M
YoY Change -19.47% -65.5%
Accrued Expenses $19.64M $17.19M
YoY Change 158.01% 131.28%
Deferred Revenue $8.456M $6.821M
YoY Change 10087.95% 2268.4%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.283M $3.485M
YoY Change 52.84% -12.33%
Total Short-Term Liabilities $27.53M $25.43M
YoY Change 76.18% 51.58%
LONG-TERM LIABILITIES
Long-Term Debt $8.650M $8.640M
YoY Change 11.57% 27.58%
Other Long-Term Liabilities $348.0K $612.0K
YoY Change 404.35% 524.49%
Total Long-Term Liabilities $8.998M $9.252M
YoY Change 15.03% 34.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.53M $25.43M
Total Long-Term Liabilities $8.998M $9.252M
Total Liabilities $36.71M $35.52M
YoY Change 39.72% 42.39%
SHAREHOLDERS EQUITY
Retained Earnings -$40.37M -$40.04M
YoY Change 8.57% 14.91%
Common Stock $100.2M $99.55M
YoY Change 2.31% 2.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.87M $58.44M
YoY Change
Total Liabilities & Shareholders Equity $96.58M $93.96M
YoY Change 10.58% 7.18%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$335.0K -$277.0K
YoY Change -85.71% -94.01%
Depreciation, Depletion And Amortization $2.075M $2.004M
YoY Change -9.47% -13.77%
Cash From Operating Activities $3.159M $7.866M
YoY Change -652.27% 174.36%
INVESTING ACTIVITIES
Capital Expenditures $2.186M -$501.0K
YoY Change -352.72% -51.41%
Acquisitions
YoY Change
Other Investing Activities $200.0K $1.715M
YoY Change 471.43%
Cash From Investing Activities -$1.986M $1.214M
YoY Change 139.28% -217.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -831.0K -804.0K
YoY Change -248.39% -61.1%
NET CHANGE
Cash From Operating Activities 3.159M 7.866M
Cash From Investing Activities -1.986M 1.214M
Cash From Financing Activities -831.0K -804.0K
Net Change In Cash 342.0K 8.276M
YoY Change -140.62% -3682.68%
FREE CASH FLOW
Cash From Operating Activities $3.159M $7.866M
Capital Expenditures $2.186M -$501.0K
Free Cash Flow $973.0K $8.367M
YoY Change 232.08% 114.65%

Facts In Submission

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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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11102000 usd
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates in the Preparation of the Consolidated Financial Statements </span></div><div style="margin-top:12pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. 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. Significant items subject to such estimates include the fair value of natural gas derivatives, the carrying amount of contingencies, valuation allowances for receivables, inventories, and deferred income tax assets, valuations assigned to assets and liabilities in business combinations, and impairments of long-lived assets. Actual results could differ from those estimates, and these differences could be material to the Condensed Consolidated Financial Statements.</span></div>
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53617000 usd
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47027000 usd
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48135000 usd
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us-gaap Depreciation And Amortization
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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1165000 usd
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EquityMethodInvestmentAccumulatedAccretion
314000 usd
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EquityMethodInvestmentNetRemainingBasisDifference
755000 usd
CY2021Q4 slng Equity Method Investment Net Remaining Basis Difference
EquityMethodInvestmentNetRemainingBasisDifference
851000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
260000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2526000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2465000 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
275000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
275000 usd
CY2022Q3 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
6969000 usd
CY2021Q4 us-gaap Accrued Utilities Current
AccruedUtilitiesCurrent
2788000 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
32000 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
53000 usd
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6821000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
0 usd
CY2022Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
394000 usd
CY2021Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
476000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
172000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17189000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6317000 usd
CY2022Q3 us-gaap Secured Debt
SecuredDebt
8640000 usd
CY2021Q4 us-gaap Secured Debt
SecuredDebt
7608000 usd
CY2022Q3 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
3022000 usd
CY2021Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
3603000 usd
CY2022Q3 slng Insurance Liabilities
InsuranceLiabilities
1085000 usd
CY2021Q4 slng Insurance Liabilities
InsuranceLiabilities
855000 usd
CY2022Q3 us-gaap Debt Current
DebtCurrent
3485000 usd
CY2021Q4 us-gaap Debt Current
DebtCurrent
2023000 usd
CY2022Q3 slng Longterm Debtand Notes Payable Excluding Current Maturities
LongtermDebtandNotesPayableExcludingCurrentMaturities
9262000 usd
CY2021Q4 slng Longterm Debtand Notes Payable Excluding Current Maturities
LongtermDebtandNotesPayableExcludingCurrentMaturities
10043000 usd
CY2022Q3 slng Noncash Insurance Premium Financing
NoncashInsurancePremiumFinancing
1400000 usd
slng Insurance Program Renewal Term Period
InsuranceProgramRenewalTermPeriod
P10M
slng Insurance Notes Payable Interest Rate
InsuranceNotesPayableInterestRate
0.0575
CY2022Q3 slng Financed Insurance Premiums Payable Current
FinancedInsurancePremiumsPayableCurrent
1100000 usd
CY2021Q4 slng Financed Insurance Premiums Payable Current
FinancedInsurancePremiumsPayableCurrent
900000 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
197000 usd
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
237000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
560000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
624000 usd
CY2022Q3 slng Interest Expense Debt Other
InterestExpenseDebtOther
2000 usd
CY2021Q3 slng Interest Expense Debt Other
InterestExpenseDebtOther
2000 usd
slng Interest Expense Debt Other
InterestExpenseDebtOther
6000 usd
slng Interest Expense Debt Other
InterestExpenseDebtOther
6000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
199000 usd
CY2021Q3 us-gaap Interest Expense
InterestExpense
239000 usd
us-gaap Interest Expense
InterestExpense
566000 usd
us-gaap Interest Expense
InterestExpense
630000 usd
CY2021Q3 slng Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
0 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
37500000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
500000 shares
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2700000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18324534 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17578653 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18256587 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17202631 shares
CY2022Q3 slng Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
272074 shares
slng Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
0 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18596608 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17578653 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18256587 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17202631 shares
CY2022Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1024000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4581000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1410000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-5326000 usd
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1301000 usd
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-44000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1441000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-128000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-277000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4625000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2851000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5454000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.06
CY2021Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.26
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.08
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.31
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.07
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.08
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.06
CY2021Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.26
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.08
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.31
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.07
CY2021Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.08
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Interest Paid Net
InterestPaidNet
635000 usd
us-gaap Interest Paid Net
InterestPaidNet
380000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
29000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
169000 usd
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
3795000 usd
slng Noncash Or Part Noncash Acquisition Equipment Acquired From Issuance Of Note Payable
NoncashOrPartNoncashAcquisitionEquipmentAcquiredFromIssuanceOfNotePayable
359000 usd
slng Noncash Or Part Noncash Acquisition Equipment Acquired From Issuance Of Note Payable
NoncashOrPartNoncashAcquisitionEquipmentAcquiredFromIssuanceOfNotePayable
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
565000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
slng Noncash Or Part Noncash Divestiture Fixed Assets Transferred To Assets Held For Sale
NoncashOrPartNoncashDivestitureFixedAssetsTransferredToAssetsHeldForSale
1841000 usd
slng Noncash Or Part Noncash Divestiture Fixed Assets Transferred To Assets Held For Sale
NoncashOrPartNoncashDivestitureFixedAssetsTransferredToAssetsHeldForSale
0 usd
slng Noncash Or Part Noncash Acquisition Equipment Acquired Under Finance Lease Liability
NoncashOrPartNoncashAcquisitionEquipmentAcquiredUnderFinanceLeaseLiability
0 usd
slng Noncash Or Part Noncash Acquisition Equipment Acquired Under Finance Lease Liability
NoncashOrPartNoncashAcquisitionEquipmentAcquiredUnderFinanceLeaseLiability
104000 usd
us-gaap Proceeds From Insurance Premiums Collected
ProceedsFromInsurancePremiumsCollected
1203000 usd
us-gaap Proceeds From Insurance Premiums Collected
ProceedsFromInsurancePremiumsCollected
1278000 usd

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