2024 Q4 Form 10-K Financial Statement

#000143774924035823 Filed on November 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue $293.8M $2.593B
YoY Change -5.35% -2.75%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.10M $278.4M
YoY Change 8.05% 9.26%
% of Gross Profit
Operating Expenses $274.0M $2.105B
YoY Change -12.82% -6.36%
Operating Profit $488.3M
YoY Change 16.65%
Interest Expense -$49.50M $201.1M
YoY Change 2.7% 8.29%
% of Operating Profit 41.18%
Other Income/Expense, Net -$4.800M $22.40M
YoY Change -217.07% -4.27%
Pretax Income -$34.50M $309.6M
YoY Change -28.13% 20.8%
Income Tax -$8.600M $58.70M
% Of Pretax Income 18.96%
Net Earnings -$29.50M $250.9M
YoY Change -14.99% 15.36%
Net Earnings / Revenue -10.04% 9.68%
Basic Earnings Per Share $4.20
Diluted Earnings Per Share -$0.51 $4.19
COMMON SHARES
Basic Shares Outstanding 57.76M 57.75M 56.10M
Diluted Shares Outstanding 56.30M

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.500M $4.500M
YoY Change -25.0% -25.0%
Cash & Equivalents $4.500M $4.500M
Short-Term Investments
Other Short-Term Assets $50.50M $225.5M
YoY Change -40.45% -55.17%
Inventory $263.9M $263.9M
Prepaid Expenses $47.60M
Receivables $277.4M $277.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $771.3M $771.3M
YoY Change -28.38% -28.38%
LONG-TERM ASSETS
Property, Plant & Equipment $955.3M $7.262B
YoY Change 52.0% 12.1%
Goodwill $1.172B
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $115.3M $115.3M
YoY Change 11.94% 11.94%
Other Assets $352.1M $1.541B
YoY Change 15.1% 3.76%
Total Long-Term Assets $10.09B $10.09B
YoY Change 9.23% 9.23%
TOTAL ASSETS
Total Short-Term Assets $771.3M $771.3M
Total Long-Term Assets $10.09B $10.09B
Total Assets $10.86B $10.86B
YoY Change 5.3% 5.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $237.2M $237.2M
YoY Change -6.28% -6.25%
Accrued Expenses $58.10M $58.10M
YoY Change 7.59% 7.59%
Deferred Revenue $48.40M
YoY Change 131.58%
Short-Term Debt $947.0M $947.0M
YoY Change -0.89% -0.94%
Long-Term Debt Due $42.00M $42.00M
YoY Change -73.18% -73.25%
Total Short-Term Liabilities $1.704B $1.704B
YoY Change -2.93% -2.91%
LONG-TERM LIABILITIES
Long-Term Debt $3.704B $3.704B
YoY Change 4.23% 4.23%
Other Long-Term Liabilities $140.6M $1.403B
YoY Change 0.72% 5.7%
Total Long-Term Liabilities $3.845B $5.107B
YoY Change 4.1% 4.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.704B $1.704B
Total Long-Term Liabilities $3.845B $5.107B
Total Liabilities $5.549B $7.628B
YoY Change 1.83% 3.14%
SHAREHOLDERS EQUITY
Retained Earnings $1.019B
YoY Change 6.34%
Common Stock $57.70M
YoY Change 8.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.233B $3.233B
YoY Change
Total Liabilities & Shareholders Equity $10.86B $10.86B
YoY Change 5.3% 5.3%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income -$29.50M $250.9M
YoY Change -14.99% 15.36%
Depreciation, Depletion And Amortization $71.10M $278.4M
YoY Change 8.05% 9.26%
Cash From Operating Activities $82.90M $912.4M
YoY Change 129.64% 107.27%
INVESTING ACTIVITIES
Capital Expenditures $229.8M $861.3M
YoY Change 28.24% 30.01%
Acquisitions $175.9M
YoY Change 375.41%
Other Investing Activities $4.600M -$10.00M
YoY Change 4500.0% 150.0%
Cash From Investing Activities -$225.2M -$1.027B
YoY Change 25.74% 47.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $287.0M
YoY Change 584.96%
Debt Paid & Issued, Net $456.6M
YoY Change 62.38%
Cash From Financing Activities 143.5M $123.9M
YoY Change -0.21% -52.46%
NET CHANGE
Cash From Operating Activities 82.90M $912.4M
Cash From Investing Activities -225.2M -$1.027B
Cash From Financing Activities 143.5M $123.9M
Net Change In Cash 1.200M $9.100M
YoY Change 50.0% 71.7%
FREE CASH FLOW
Cash From Operating Activities $82.90M $912.4M
Capital Expenditures $229.8M $861.3M
Free Cash Flow -$146.9M $51.10M
YoY Change 2.66% -122.99%

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CY2023 us-gaap Interest Paid Net
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900000 usd
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IncomeTaxesPaidNet
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<p style="font-family: Georgia, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>USE OF ESTIMATES </b>– 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 periods. Actual results could differ from those estimates.</p> <p style="font-family: Georgia, Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CapitalExpendituresIncurredButNotYetPaid
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AssetRetirementObligation
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CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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AssetRetirementObligationLiabilitiesIncurred
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AssetRetirementObligationLiabilitiesIncurred
7900000 usd
CY2024 us-gaap Asset Retirement Obligation Liabilities Settled
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6500000 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
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24800000 usd
CY2023 us-gaap Asset Retirement Obligation Accretion Expense
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21500000 usd
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AssetRetirementObligationRevisionOfEstimate
33900000 usd
CY2024Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
579900000 usd
CY2023Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2024 sr Difference Between Replacement Cost Of Gas Storage And Inventory Basis Amount
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27300000 usd
CY2023 sr Difference Between Replacement Cost Of Gas Storage And Inventory Basis Amount
DifferenceBetweenReplacementCostOfGasStorageAndInventoryBasisAmount
21100000 usd
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37000000 usd
CY2024Q3 us-gaap Restricted Cash
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30400000 usd
CY2023Q3 us-gaap Restricted Cash
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20200000 usd
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32500000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
31900000 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
30300000 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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ProvisionForDoubtfulAccounts
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CY2022 us-gaap Provision For Doubtful Accounts
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11600000 usd
CY2024 sr Accounts Receivable Allowance For Credit Loss Writeoff Net Of Recoveries
AccountsReceivableAllowanceForCreditLossWriteoffNetOfRecoveries
24100000 usd
CY2023 sr Accounts Receivable Allowance For Credit Loss Writeoff Net Of Recoveries
AccountsReceivableAllowanceForCreditLossWriteoffNetOfRecoveries
16000000 usd
CY2022 sr Accounts Receivable Allowance For Credit Loss Writeoff Net Of Recoveries
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CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
31400000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
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32500000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
31900000 usd
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128200000 usd
CY2023 sr Taxes Receipt Amounts Included Operating Revenues
TaxesReceiptAmountsIncludedOperatingRevenues
131800000 usd
CY2022 sr Taxes Receipt Amounts Included Operating Revenues
TaxesReceiptAmountsIncludedOperatingRevenues
109800000 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1000000
CY2024Q3 sr Sharebased Compensation Arrangement By Sharebased Payment Award Shares Deferred
SharebasedCompensationArrangementBySharebasedPaymentAwardSharesDeferred
148640
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0.0466 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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CY2024 us-gaap Net Income Loss
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250900000 usd
CY2023 us-gaap Net Income Loss
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217500000 usd
CY2022 us-gaap Net Income Loss
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220800000 usd
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14800000 usd
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14800000 usd
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300000 usd
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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300000 usd
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300000 usd
CY2024 us-gaap Net Income Loss Available To Common Stockholders Basic
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52500000
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4.2
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3.86
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14800000 usd
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14800000 usd
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14800000 usd
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300000 usd
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300000 usd
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300000 usd
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56100000
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52500000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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52000000
CY2024 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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200000
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100000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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100000
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56300000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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52600000
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52100000
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EarningsPerShareDiluted
4.19
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3.85
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100000
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CY2023Q3 sr Number Of Shares Remaining And Available For Issuance
NumberOfSharesRemainingAndAvailableForIssuance
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CY2022Q3 sr Retained Earnings Dividend Restrictions Formula Component Fixed Amount
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CY2024Q3 us-gaap Debt Instrument Carrying Amount
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24700000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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22100000 usd
CY2024Q3 us-gaap Long Term Debt Current
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CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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108100000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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53600000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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28500000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
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8600000 usd
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4500000 usd
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CY2024Q3 us-gaap Short Term Borrowings
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CY2023Q3 us-gaap Short Term Borrowings
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955500000 usd
CY2023Q3 us-gaap Short Term Debt Weighted Average Interest Rate
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0.056 pure
CY2024Q3 sr Nonmonetary Notional Amount Of Natural Gas Derivative Contracts Not Designated As Normal Purchases Or Normal Sales
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450300000
CY2024Q3 sr Notional Amount Of Non Exchange Traded Natural Gas Commodity Contracts To Be Settled In Next Twelve Months
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387700000
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49700000
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6300000
CY2024Q3 sr Notional Amount Of Non Exchange Traded Natural Gas Commodity Contracts To Be Settled In Year Four
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3800000
CY2024Q3 sr Notional Amount Of Non Exchange Traded Natural Gas Commodity Contracts To Be Settled In Year Five
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2800000
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700000 usd
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Asset
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57200000 usd
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Liability
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57300000 usd
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97400000 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability
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100200000 usd
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Asset
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57200000 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
97400000 usd
CY2024Q3 sr Fair Value Of Cash Margin Receivable Offset With Derivatives
FairValueOfCashMarginReceivableOffsetWithDerivatives
11100000 usd
CY2023Q3 sr Fair Value Of Cash Margin Receivable Offset With Derivatives
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49300000 usd
CY2024Q3 us-gaap Derivative Asset Fair Value Gross Liability
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25000000 usd
CY2023Q3 us-gaap Derivative Asset Fair Value Gross Liability
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69400000 usd
CY2024Q3 us-gaap Derivative Assets
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43300000 usd
CY2023Q3 us-gaap Derivative Assets
DerivativeAssets
77300000 usd
CY2024Q3 us-gaap Derivative Assets Current
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39500000 usd
CY2023Q3 us-gaap Derivative Assets Current
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71800000 usd
CY2024Q3 us-gaap Derivative Assets Noncurrent
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3800000 usd
CY2023Q3 us-gaap Derivative Assets Noncurrent
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5500000 usd
CY2024Q3 us-gaap Derivative Assets
DerivativeAssets
43300000 usd
CY2023Q3 us-gaap Derivative Assets
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77300000 usd
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Liability
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57300000 usd
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Liability
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100200000 usd
CY2024Q3 us-gaap Derivative Liability Fair Value Gross Asset
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25000000 usd
CY2023Q3 us-gaap Derivative Liability Fair Value Gross Asset
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69400000 usd
CY2024Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
32300000 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
30800000 usd
CY2024Q3 us-gaap Derivative Liabilities Current
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27600000 usd
CY2023Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
23200000 usd
CY2024Q3 us-gaap Derivative Liabilities Noncurrent
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4700000 usd
CY2023Q3 us-gaap Derivative Liabilities Noncurrent
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7600000 usd
CY2024Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
32300000 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
30800000 usd
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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182200000 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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239200000 usd
CY2024Q3 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2023Q3 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2024Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
58600000 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
64400000 usd
CY2024Q3 sr Deferred Tax Assets Regulatory Amount Due To Customers Net
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27100000 usd
CY2023Q3 sr Deferred Tax Assets Regulatory Amount Due To Customers Net
DeferredTaxAssetsRegulatoryAmountDueToCustomersNet
30400000 usd
CY2024Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
500000 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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