2020 Q3 Form 10-K Financial Statement

#000162828020014053 Filed on September 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 2019 Q3
Revenue $164.9M $338.5M $204.5M
YoY Change -19.36% -58.72% 1.14%
Cost Of Revenue $124.9M $274.7M $167.3M
YoY Change -25.34% -59.01% 6.07%
Gross Profit $40.00M $63.77M $37.10M
YoY Change 7.82% -57.41% -0.69%
Gross Profit Margin 24.26% 18.84% 18.14%
Selling, General & Admin $24.00M $44.27M $62.40M
YoY Change -61.54% -69.27% 114.43%
% of Gross Profit 60.0% 69.42% 168.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.38M $4.111M $13.01M
YoY Change -4.84% -81.36% -4.48%
% of Gross Profit 30.95% 6.45% 35.07%
Operating Expenses $30.50M $44.27M $69.70M
YoY Change -56.24% -74.7% 85.82%
Operating Profit $9.500M $19.50M -$32.60M
YoY Change -129.14% -177.15% 21207.19%
Interest Expense -$9.000M $1.991M -$8.700M
YoY Change 3.45% -95.25% 10.13%
% of Operating Profit -94.74% 10.21%
Other Income/Expense, Net $300.0K $166.0K -$100.0K
YoY Change -400.0% -100.45% -98.58%
Pretax Income $1.500M $19.67M -$37.30M
YoY Change -104.02% -128.52% 418.06%
Income Tax $1.900M $15.67M $700.0K
% Of Pretax Income 126.67% 79.64%
Net Earnings -$400.0K -$5.284M -$38.00M
YoY Change -98.95% -92.08% 404.45%
Net Earnings / Revenue -0.24% -1.56% -18.58%
Basic Earnings Per Share -$0.12
Diluted Earnings Per Share -$6.472K -$0.12 -$618.9K
COMMON SHARES
Basic Shares Outstanding 62.76M shares 61.64M shares
Diluted Shares Outstanding 61.64M shares

Balance Sheet

Concept 2020 Q3 2020 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.90M $75.90M $32.50M
YoY Change 133.54% 133.54% -64.71%
Cash & Equivalents $58.32M $75.90M $32.55M
Short-Term Investments
Other Short-Term Assets $39.30M $39.30M $44.90M
YoY Change -12.47% -12.47% 78.88%
Inventory $10.52M $15.40M $23.67M
Prepaid Expenses
Receivables $49.86M $93.10M $112.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $223.5M $223.5M $213.3M
YoY Change 4.79% 4.78% -20.13%
LONG-TERM ASSETS
Property, Plant & Equipment $6.943M $135.8M $91.27M
YoY Change -92.39% 48.74% -14.41%
Goodwill $257.1M $257.1M
YoY Change 0.0% 1.09%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.761M $7.400M $7.325M
YoY Change -48.66% 1.37% -16.96%
Total Long-Term Assets $535.6M $535.7M $518.2M
YoY Change 3.36% 3.36% -7.91%
TOTAL ASSETS
Total Short-Term Assets $223.5M $223.5M $213.3M
Total Long-Term Assets $535.6M $535.7M $518.2M
Total Assets $759.2M $759.2M $731.6M
YoY Change 3.77% 3.77% -11.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.17M $70.00M $85.90M
YoY Change -46.25% -18.51% 9.83%
Accrued Expenses $34.83M $139.1M $112.7M
YoY Change -69.08% 9.53% 27.4%
Deferred Revenue $2.379M $2.967M
YoY Change -19.82% -19.81%
Short-Term Debt $0.00 $0.00 $11.73M
YoY Change -100.0% -100.0% -79.05%
Long-Term Debt Due $0.00 $5.600M $5.732M
YoY Change -100.0% -1.75% 0.09%
Total Short-Term Liabilities $249.9M $249.9M $256.9M
YoY Change -2.69% -2.72% -5.92%
LONG-TERM LIABILITIES
Long-Term Debt $7.720M $373.6M $381.9M
YoY Change -97.98% -0.61% -0.31%
Other Long-Term Liabilities $4.358M $51.70M $10.90M
YoY Change -60.01% 374.31% 3.72%
Total Long-Term Liabilities $425.2M $425.3M $386.8M
YoY Change 9.93% 9.95% -5.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $249.9M $249.9M $256.9M
Total Long-Term Liabilities $425.2M $425.3M $386.8M
Total Liabilities $675.2M $675.2M $643.7M
YoY Change 4.89% 4.89% -5.47%
SHAREHOLDERS EQUITY
Retained Earnings -$7.434B -$7.426B
YoY Change 0.1% 0.94%
Common Stock $628.0K $618.0K
YoY Change 1.62% 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.82M $84.00M $52.69M
YoY Change
Total Liabilities & Shareholders Equity $759.2M $759.2M $731.6M
YoY Change 3.77% 3.77% -11.84%

Cashflow Statement

Concept 2020 Q3 2020 2019 Q3
OPERATING ACTIVITIES
Net Income -$400.0K -$5.284M -$38.00M
YoY Change -98.95% -92.08% 404.45%
Depreciation, Depletion And Amortization $12.38M $4.111M $13.01M
YoY Change -4.84% -81.36% -4.48%
Cash From Operating Activities $11.57M $46.67M $24.47M
YoY Change -52.72% 123.85% 249.57%
INVESTING ACTIVITIES
Capital Expenditures -$590.0K $1.873M -$2.700M
YoY Change -78.15% -87.12% -43.87%
Acquisitions
YoY Change
Other Investing Activities $0.00 $180.0K $0.00
YoY Change 200.0% -100.0%
Cash From Investing Activities -$590.0K -$1.710M -$2.700M
YoY Change -78.15% -88.19% -41.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.00K
YoY Change 13.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.65M -$2.632M -6.050M
YoY Change 323.97% -95.88% -28.82%
NET CHANGE
Cash From Operating Activities 11.57M $46.67M 24.47M
Cash From Investing Activities -590.0K -$1.710M -2.700M
Cash From Financing Activities -25.65M -$2.632M -6.050M
Net Change In Cash -14.67M $43.45M 15.72M
YoY Change -193.32% -175.23% -357.28%
FREE CASH FLOW
Cash From Operating Activities $11.57M $46.67M $24.47M
Capital Expenditures -$590.0K $1.873M -$2.700M
Free Cash Flow $12.16M $44.80M $27.17M
YoY Change -55.24% 609.95% 130.06%

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CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1525000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3283000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
288000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
430000 USD
CY2019Q3 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
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8200000 USD
CY2020Q3 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
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8200000 USD
CY2020Q3 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
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8200000 USD
CY2020Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
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0.278
CY2017Q4 us-gaap Debt Instrument Periodic Payment
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1500000 USD
CY2019Q1 us-gaap Debt Instrument Redemption Price Percentage
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1
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8396000 USD
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
7863000 USD
CY2019Q4 us-gaap Debtor In Possession Financing Fee On Unused Borrowings
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0.005
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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1563000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
91000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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541000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
661000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2857000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
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2204000 USD
CY2019Q3 us-gaap Deferred Income Tax Liabilities
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CY2020Q3 us-gaap Deferred Income Tax Liabilities
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24484000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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753000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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6534000 USD
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0 USD
CY2019Q3 us-gaap Deferred Tax Assets Gross
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497753000 USD
CY2020Q3 us-gaap Deferred Tax Assets Gross
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476920000 USD
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918000 USD
CY2019Q3 us-gaap Deferred Tax Assets Net
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46564000 USD
CY2020Q3 us-gaap Deferred Tax Assets Net
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23951000 USD
CY2019Q3 us-gaap Deferred Tax Assets Valuation Allowance
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451189000 USD
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
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452969000 USD
CY2020Q3 us-gaap Deferred Tax Liabilities
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533000 USD
CY2019 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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-127000 USD
CY2020 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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-74000 USD
CY2020Q3 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
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-2100000 USD
CY2019 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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492000 USD
CY2020 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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458000 USD
CY2019 us-gaap Defined Benefit Plan Interest Cost
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633000 USD
CY2020 us-gaap Defined Benefit Plan Interest Cost
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543000 USD
CY2019 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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633000 USD
CY2020 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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201000 USD
CY2019 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
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0 USD
CY2020 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
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143000 USD
CY2019 us-gaap Defined Benefit Plan Service Cost
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365000 USD
CY2020 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
185000 USD
CY2020Q3 us-gaap Defined Benefit Plan Type Extensible List
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us-gaap:PensionPlansDefinedBenefitMember
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22058000 USD
CY2020 us-gaap Depreciation
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23075000 USD
CY2019 us-gaap Earnings Per Share Basic
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-1.13
CY2020 us-gaap Earnings Per Share Basic
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-0.12
CY2019 us-gaap Earnings Per Share Basic And Diluted
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-1.13
CY2020 us-gaap Earnings Per Share Basic And Diluted
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-0.12
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.13
CY2020 us-gaap Earnings Per Share Diluted
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-0.12
CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-321000 USD
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1124000 USD
CY2019Q3 us-gaap Employee Related Liabilities Current
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22584000 USD
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25439000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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500000 USD
CY2019 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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1200000 USD
CY2020 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
700000 USD
CY2020 us-gaap Finance Lease Interest Expense
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11000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
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9000 USD
CY2020 us-gaap Finance Lease Principal Payments
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100000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
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38000 USD
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.038
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P2Y4M25D
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50732000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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77987000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
69502000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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20258000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
9371000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9371000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11427000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
15334000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
213250000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
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213250000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
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162518000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
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135263000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
300000 USD
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
900000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
337000 USD
CY2020 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
890000 USD
CY2019Q3 us-gaap Funds Held For Clients
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13516000 USD
CY2020Q3 us-gaap Funds Held For Clients
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18755000 USD
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
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0 USD
CY2019Q3 us-gaap Goodwill
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CY2020Q3 us-gaap Goodwill
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257128000 USD
CY2020 us-gaap Goodwill Impairment Loss
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0 USD
CY2019 us-gaap Gross Profit
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149730000 USD
CY2020 us-gaap Gross Profit
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162959000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-68959000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
6860000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
9801000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
633000 USD
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
42000 USD
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4670000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5917000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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16158000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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2227000 USD
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-593000 USD
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
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2484000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
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3010000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
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-1432000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
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-17000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
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0 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2019 us-gaap Income Taxes Paid Net
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5451000 USD
CY2020 us-gaap Income Taxes Paid Net
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4991000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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36486000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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14090000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
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-20305000 USD
CY2019 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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CY2020 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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-630000 USD
CY2019 us-gaap Increase Decrease In Inventories
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CY2020 us-gaap Increase Decrease In Inventories
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CY2019 us-gaap Increase Decrease In Other Operating Capital Net
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-2316000 USD
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
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CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-5519000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2019 us-gaap Interest Expense
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41951000 USD
CY2020 us-gaap Interest Expense
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33969000 USD
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38525000 USD
CY2020 us-gaap Interest Paid Net
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32799000 USD
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467000 USD
CY2020Q3 us-gaap Interest Payable Current
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476000 USD
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1765000 USD
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CY2019Q3 us-gaap Inventory Net
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23674000 USD
CY2020Q3 us-gaap Inventory Net
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15354000 USD
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
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21322000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
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14216000 USD
CY2019Q3 us-gaap Inventory Work In Process Net Of Reserves
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587000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
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253000 USD
CY2019 us-gaap Investment Income Interest
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528000 USD
CY2020 us-gaap Investment Income Interest
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61000 USD
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23711000 USD
CY2020Q3 us-gaap Leasehold Improvements Gross
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24659000 USD
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CY2020Q3 us-gaap Liabilities
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CY2019Q3 us-gaap Liabilities And Stockholders Equity
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731563000 USD
CY2020Q3 us-gaap Liabilities And Stockholders Equity
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759172000 USD
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256850000 USD
CY2020Q3 us-gaap Liabilities Current
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249932000 USD
CY2019Q3 us-gaap Liabilities Noncurrent
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386835000 USD
CY2020Q3 us-gaap Liabilities Noncurrent
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425242000 USD
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CY2019Q3 us-gaap Long Term Debt
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CY2020Q3 us-gaap Long Term Debt
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CY2020Q3 us-gaap Long Term Debt Current
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5527000 USD
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381937000 USD
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373522000 USD
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99961000 USD
CY2020Q3 us-gaap Machinery And Equipment Gross
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112407000 USD
CY2019Q3 us-gaap Money Market Funds At Carrying Value
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365000 USD
CY2020Q3 us-gaap Money Market Funds At Carrying Value
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5117000 USD
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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20849000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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71624000 USD
CY2019 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
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-68856000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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-7413000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
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-7413000 USD
CY2019 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Number Of Operating Segments
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2 segment
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CY2020 us-gaap Operating Income Loss
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32443000 USD
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12070000 USD
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
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P6Y1M0D
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21203000 USD
CY2020Q3 us-gaap Other Accrued Liabilities Current
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16392000 USD
CY2019Q3 us-gaap Other Assets Noncurrent
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7325000 USD
CY2020Q3 us-gaap Other Assets Noncurrent
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7420000 USD
CY2019 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-1331000 USD
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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8000 USD
CY2020 us-gaap Operating Lease Cost
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16722000 USD
CY2020 us-gaap Operating Lease Payments
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15885000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
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56140000 USD
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0.044
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CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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2809000 USD
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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284000 USD
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-2897000 USD
CY2019 us-gaap Other Comprehensive Income Loss Tax
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100000 USD
CY2019 us-gaap Other Comprehensive Income Other Net Of Tax
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398000 USD
CY2020 us-gaap Other Comprehensive Income Other Net Of Tax
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400000 USD
CY2019 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-85000 USD
CY2020 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-96000 USD
CY2019Q3 us-gaap Other Intangible Assets Net
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162518000 USD
CY2020Q3 us-gaap Other Intangible Assets Net
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135263000 USD
CY2019Q3 us-gaap Other Liabilities Current
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38919000 USD
CY2020Q3 us-gaap Other Liabilities Current
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29950000 USD
CY2019Q3 us-gaap Other Liabilities Noncurrent
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10898000 USD
CY2020Q3 us-gaap Other Liabilities Noncurrent
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8509000 USD
CY2019Q3 us-gaap Other Long Term Debt Noncurrent
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368505000 USD
CY2020Q3 us-gaap Other Long Term Debt Noncurrent
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365468000 USD
CY2019 us-gaap Other Noncash Income Expense
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4603000 USD
CY2020 us-gaap Other Noncash Income Expense
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2098000 USD
CY2019 us-gaap Other Nonoperating Gains Losses
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4603000 USD
CY2019 us-gaap Other Nonoperating Gains Losses
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4600000 USD
CY2020 us-gaap Other Nonoperating Gains Losses
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2100000 USD
CY2020 us-gaap Other Nonoperating Gains Losses
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2098000 USD
CY2019Q3 us-gaap Other Sundry Liabilities Current
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6794000 USD
CY2020Q3 us-gaap Other Sundry Liabilities Current
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7900000 USD
CY2019 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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CY2020 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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0 USD
CY2019 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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2129000 USD
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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2135000 USD
CY2019 us-gaap Payments Of Financing Costs
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0 USD
CY2020 us-gaap Payments Of Financing Costs
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914000 USD
CY2013Q1 us-gaap Payments Of Stock Issuance Costs
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1.47
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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1060000 shares
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0.80
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905000 shares
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1394000 shares
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1.60
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0.97
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438000 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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1.72
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195000 shares
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4.54
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130000 shares
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325000 shares
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195000 shares
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200000 USD
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667000 USD
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2000 USD
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100000 USD
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0 USD
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416000 USD
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1800000 USD
CY2020 us-gaap Variable Lease Cost
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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61180000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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61644000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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61180000 shares
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61644000 shares
CY2019Q3 us-gaap Workers Compensation Liability Current
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CY2020 us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. The Company's cash equivalent portfolio is diversified and consists primarily of short-term investment grade securities placed with high credit quality financial institutions. Cash and cash equivalents are maintained at accredited financial institutions, and the balances associated with funds held for clients are at times without and in excess of federally insured limits. The Company has never experienced any losses related to these balances and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with financial institutions.</font></div></div>
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF OPERATIONS</font></div><div style="line-height:120%;padding-left:4px;text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Steel Connect, Inc., together with its consolidated subsidiaries (the "Company"), operates through its wholly-owned subsidiaries, IWCO Direct Holdings, Inc. ("IWCO Direct" or "IWCO") and ModusLink Corporation ("ModusLink" or "Supply Chain").</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">IWCO Direct delivers data-driven marketing solutions for its customers. Its full range of services includes strategy, creative and execution for omnichannel marketing campaigns, along with postal logistics programs for direct mail. Through its Mail-Gard&#174; division, IWCO Direct also offers business continuity and disaster recovery services to protect against unexpected business interruptions, along with providing print and mail outsourcing services.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ModusLink is a supply chain business process management company serving clients in markets such as consumer electronics, communications, computing, medical devices, software and retail. ModusLink designs and executes elements in its clients' global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. The Company also produces and licenses an entitlement management solution for activation, provisioning, entitlement subscription, and data collection from physical goods (connected products) and digital products.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Historically, the Company has financed its operations and met its capital requirements primarily through funds generated from operations, the sale of its securities, borrowings from lending institutions and sale of facilities that were not fully utilized. The Company believes it has access to adequate resources to meet its needs for normal operating costs, capital expenditures, mandatory debt redemptions and working capital for its existing business for at least twelve months from the date of this filing. These resources include cash and cash equivalents, ModusLink's credit agreement with MidCap Financial Trust ("MidCap"), IWCO's revolving credit facility and cash, if any, provided by operating activities. The Company's expectations regarding its ability to use its existing cash to continue funding its operations are based on assumptions that may prove to be inaccurate, and the Company may require capital resources sooner than currently expected. While the Company believes it will be able to access this additional liquidity based on existing information, the assumptions underlying this belief may also later prove to be inaccurate.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had cash and cash equivalents of </font><font style="font-family:inherit;font-size:10pt;">$75.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$32.5 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. As of </font><font style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, the Company had a working capital deficit of </font><font style="font-family:inherit;font-size:10pt;">$26.4 million</font><font style="font-family:inherit;font-size:10pt;">, which includes accrued pricing liabilities and certain tax related liabilities which the Company believes will not require a cash outlay in the next twelve months. As of </font><font style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, ModusLink had a readily available borrowing capacity under its revolving credit facility of </font><font style="font-family:inherit;font-size:10pt;">$4.4 million</font><font style="font-family:inherit;font-size:10pt;">. As of&#160;</font><font style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, IWCO had a readily available borrowing capacity under its revolving facility of&#160;</font><font style="font-family:inherit;font-size:10pt;">$25.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company believes it will generate sufficient cash to meet its debt covenants under its credit facilities to which certain of its subsidiaries are a party and that it will be able to obtain cash through its current and future credit facilities, if needed.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Impact of COVID-19</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2020, the World Health Organization categorized the novel Coronavirus ("COVID-19") as a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The spread of the outbreak has caused significant disruptions in the U.S. and global economies, and economists expect the impact will be significant during the next year. The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic. The Company continues to evaluate the global risks and the slowdown in business activity related to COVID-19, including the potential impacts on its employees, customers, suppliers and financial results. For the fiscal year 2020, COVID-19 required temporary closures of certain of ModusLink's facilities. Additionally, although IWCO operated as an essential business, it had reduced operating levels and labor shifts due to lower sales volume. As of the filing of this Form 10-K, all of the Company's facilities were open and able to operate at normal capacities. Additionally, to help mitigate the financial impact of the COVID-19 pandemic, the Company initiated cost reduction actions, including the waiver of board fees, hiring freezes, staffing and force reductions, Company-wide salary reductions, bonus payment deferrals and temporary 401(k) match suspension. The Company continues its focus on cash management and liquidity, which includes elimination of discretionary spending, aggressive working capital management, strict approvals for capital expenditures and borrowing from its revolving credit facilities, if needed, as a precautionary measure to preserve financial flexibility. The Company will evaluate further actions if circumstances warrant.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Currently, the Company anticipates that the impact of the rapid deterioration of the U.S and global economies will most likely continue and have an adverse impact on the Company's business. However, as the situation surrounding COVID-19 remains fluid, it is difficult to predict the duration of the pandemic and the impact on the Company's business, operations, financial condition and cash flows. The severity of the impact on the Company's business beyond fiscal year 2020 will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the extent and severity of the impact on the Company's customers and suppliers, the continued disruption to the demand for our businesses' products and services, and the impact of the global business and economic environment on liquidity and the availability of capital, all of which are uncertain and cannot be predicted. The Company's future results of operations and liquidity could also be adversely impacted by delays in payments of outstanding receivables beyond normal payment terms, supply chain disruptions, and uncertain demand, and the effect of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by its customers. There is also no certainty that federal, state or local regulations regarding safety measures to address the spread of COVID-19 will not adversely impact the Company's operations.</font></div></div>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("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 revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates including those related to: (1) revenue recognition; (2) valuation allowances for trade and other receivables and inventories; (3) the valuation of goodwill, other intangible assets and long-lived assets; (4) contingencies, including litigation reserves; (5) restructuring charges and related severance expenses; (6) litigation reserves; (7) pension obligations, (8) going concern assumptions, and (9) accrued pricing and tax related liabilities. Accounting estimates are based on historical experience and various assumptions that are considered reasonable under the circumstances. However, because these estimates inherently involve judgments and uncertainties, actual results could differ materially from those estimated.</font></div></div>

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