2023 Q2 Form 10-Q Financial Statement

#000087423823000067 Filed on May 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $522.3M $403.6M
YoY Change 2.3% -1.64%
Cost Of Revenue $430.1M $341.8M
YoY Change -2.74% -3.49%
Gross Profit $92.27M $61.74M
YoY Change 34.94% 9.98%
Gross Profit Margin 17.67% 15.3%
Selling, General & Admin $24.03M $23.32M
YoY Change 2.6% 1.08%
% of Gross Profit 26.05% 37.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.24M $13.69M
YoY Change 1.11% 16.36%
% of Gross Profit 11.1% 22.18%
Operating Expenses $31.95M $28.93M
YoY Change 18.06% 4.74%
Operating Profit $60.26M $32.63M
YoY Change 46.66% 15.42%
Interest Expense -$5.528M -$5.554M
YoY Change 24.22% 21.35%
% of Operating Profit -9.17% -17.02%
Other Income/Expense, Net
YoY Change
Pretax Income $54.74M $27.07M
YoY Change 49.39% 3.65%
Income Tax $14.51M $7.033M
% Of Pretax Income 26.5% 25.98%
Net Earnings $39.48M $19.65M
YoY Change 49.7% 0.65%
Net Earnings / Revenue 7.56% 4.87%
Basic Earnings Per Share $1.28 $0.64
Diluted Earnings Per Share $1.27 $0.64
COMMON SHARES
Basic Shares Outstanding 30.79M shares 30.59M shares
Diluted Shares Outstanding 31.00M shares 30.79M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $278.1M $202.6M
YoY Change 281.48% 151.98%
Cash & Equivalents $278.1M $202.6M
Short-Term Investments
Other Short-Term Assets $14.77M $16.09M
YoY Change -36.28% -26.65%
Inventory
Prepaid Expenses
Receivables $411.5M $355.6M
Other Receivables $11.41M $13.65M
Total Short-Term Assets $715.8M $588.0M
YoY Change 33.17% 34.89%
LONG-TERM ASSETS
Property, Plant & Equipment $289.6M $277.5M
YoY Change 10.69% 11.02%
Goodwill $262.7M $262.7M
YoY Change 3.88% 4.09%
Intangibles $291.7M $295.4M
YoY Change -1.81% -1.56%
Long-Term Investments
YoY Change
Other Assets $7.649M $7.615M
YoY Change 69.9% 69.67%
Total Long-Term Assets $851.6M $843.2M
YoY Change 4.35% 4.5%
TOTAL ASSETS
Total Short-Term Assets $715.8M $588.0M
Total Long-Term Assets $851.6M $843.2M
Total Assets $1.567B $1.431B
YoY Change 15.8% 15.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.6M $119.5M
YoY Change -14.52% -16.7%
Accrued Expenses $43.46M $34.28M
YoY Change -4.74% -4.6%
Deferred Revenue $335.9M $242.3M
YoY Change 107.38% 108.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $35.06M $35.06M
YoY Change 33.45% 15.45%
Total Short-Term Liabilities $567.8M $444.7M
YoY Change 39.37% 30.98%
LONG-TERM LIABILITIES
Long-Term Debt $329.3M $365.5M
YoY Change -20.84% -12.41%
Other Long-Term Liabilities $5.563M $4.666M
YoY Change 21.46% 5.8%
Total Long-Term Liabilities $334.8M $370.2M
YoY Change -20.38% -12.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $567.8M $444.7M
Total Long-Term Liabilities $334.8M $370.2M
Total Liabilities $1.025B $932.9M
YoY Change 8.38% 7.83%
SHAREHOLDERS EQUITY
Retained Earnings $245.5M $206.0M
YoY Change 96.2% 107.75%
Common Stock $308.0K $308.0K
YoY Change 1.65% 1.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $537.6M $494.7M
YoY Change
Total Liabilities & Shareholders Equity $1.567B $1.431B
YoY Change 15.8% 15.16%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $39.48M $19.65M
YoY Change 49.7% 0.65%
Depreciation, Depletion And Amortization $10.24M $13.69M
YoY Change 1.11% 16.36%
Cash From Operating Activities $132.0M $49.06M
YoY Change 757.13% 155.74%
INVESTING ACTIVITIES
Capital Expenditures $24.64M $14.22M
YoY Change -276.29% -5.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $1.799M $20.73M
YoY Change -172.31% 5004.93%
Cash From Investing Activities -$22.84M $6.505M
YoY Change 38.72% -144.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $30.84M
YoY Change 420.29%
Cash From Financing Activities -36.79M -$35.13M
YoY Change 529.68% 492.63%
NET CHANGE
Cash From Operating Activities 132.0M $49.06M
Cash From Investing Activities -22.84M $6.505M
Cash From Financing Activities -36.79M -$35.13M
Net Change In Cash 72.42M $20.43M
YoY Change -1149.62% -1662.08%
FREE CASH FLOW
Cash From Operating Activities $132.0M $49.06M
Capital Expenditures $24.64M $14.22M
Free Cash Flow $107.4M $34.84M
YoY Change 265.57% 726.7%

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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
477799000 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1431128000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1441620000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
20040000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
19523000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13692000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11767000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
422000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
556000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1672000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
228000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2428000 usd
CY2023Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
2728000 usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
5640000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3240000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2611000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
90000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-10608000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
10783000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
49058000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26568000 usd
CY2023Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
14000000 usd
CY2022Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
0 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14221000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14969000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6726000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
406000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6505000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14563000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
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30843000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5928000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4288000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7385000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-35131000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13313000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
20432000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1308000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185265000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88693000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
205697000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87385000 usd
CY2023Q1 strl Restricted Cash Other Current Assets Disposal Group Including Continued Operations
RestrictedCashOtherCurrentAssetsDisposalGroupIncludingContinuedOperations
3121000 usd
CY2022Q1 strl Restricted Cash Other Current Assets Disposal Group Including Continued Operations
RestrictedCashOtherCurrentAssetsDisposalGroupIncludingContinuedOperations
3721000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
0 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
14264000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
202576000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69400000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
998000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2457000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
477799000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
20040000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
4486000 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
218000 usd
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4288000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
498255000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
360227000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
19523000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
1563000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
3521000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
192000 usd
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
7386000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
377640000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-bottom:4pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.157%"><tr><td style="width:1.0%"/><td style="width:2.050%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:79.165%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.485%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NATURE OF OPERATIONS</span></td><td colspan="3" style="padding:0 1pt"/></tr></table></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Summary</span></div><div style="margin-bottom:3pt;margin-top:4pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Sterling Infrastructure, Inc., (“Sterling,” “the Company,” “we,” “our” or “us”), a Delaware corporation, operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and Hawaii. E-Infrastructure Solutions provides advanced, large-scale site development services for data centers, e-commerce distribution centers, manufacturing, warehousing, energy and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 30, 2022, we completed the disposition of our 50% ownership interest in our partnership with Myers &amp; Sons Construction L.P. (“Myers”), which represented a strategic shift that had a major effect on our operations and consolidated financial results. Accordingly, the historical results of Myers have been presented as discontinued operations in our Consolidated Statements of Operations and Consolidated Balance Sheets. Prior to being disclosed as a discontinued operation, the results of Myers were included within our Transportation Solutions segment. The following footnotes reflect continuing operations only, unless otherwise indicated.</span></div>
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q1 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q1 us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Estimates and Judgments—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the accompanying Condensed Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the 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. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and income from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.</span>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
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0 usd
CY2023Q1 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q1 strl Contract With Customer Retainage Asset Current
ContractWithCustomerRetainageAssetCurrent
68787000 usd
CY2022Q4 strl Contract With Customer Retainage Asset Current
ContractWithCustomerRetainageAssetCurrent
65682000 usd
CY2023Q1 strl Contract With Customer Retainage Liability Current
ContractWithCustomerRetainageLiabilityCurrent
61371000 usd
CY2022Q4 strl Contract With Customer Retainage Liability Current
ContractWithCustomerRetainageLiabilityCurrent
63848000 usd
CY2023Q1 strl Contracts Receivable Retainage Percentage Estimated To Be Collected In Next Fiscal Year
ContractsReceivableRetainagePercentageEstimatedToBeCollectedInNextFiscalYear
0.70
CY2023Q1 strl Increase Decrease In Contract With Customer Retainage Asset
IncreaseDecreaseInContractWithCustomerRetainageAsset
15691000 usd
CY2023Q1 strl Increase Decrease In Contract With Customer Retainage Liability
IncreaseDecreaseInContractWithCustomerRetainageLiability
3029000 usd
CY2023Q1 strl Contract With Customer Liability Revenue Recognized During The Period
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97830000 usd
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67158000 usd
CY2023Q1 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q1 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q1 strl Death And Disability Insurance Policies Per Policy Amount
DeathAndDisabilityInsurancePoliciesPerPolicyAmount
20000000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
3121000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
3721000 usd
CY2022Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-9408000 usd
CY2022Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-174000 usd
CY2022Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
-81000 usd
CY2023Q1 us-gaap Operating Lease Cost
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4954000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
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1624233000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1414342000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.70
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P12M
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2693000 usd
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380716000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
372901000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
165499000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
157419000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
215217000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
215482000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
9956000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
7795000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4375000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3168000 usd
CY2023Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P24Y
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
345017000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
49630000 usd
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FiniteLivedIntangibleAssetsGross
345017000 usd
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FiniteLivedIntangibleAssetsAccumulatedAmortization
45894000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
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3736000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
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3568000 usd
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FinanceLeaseRightOfUseAssetAmortization
37000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
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403248000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
434564000 usd
CY2023Q1 strl Long Term Debt Current Maturities Gross
LongTermDebtCurrentMaturitiesGross
35059000 usd
CY2022Q4 strl Long Term Debt Current Maturities Gross
LongTermDebtCurrentMaturitiesGross
32610000 usd
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DeferredFinanceCostsCurrentNet
2641000 usd
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3219000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
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365548000 usd
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398735000 usd
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579000 usd
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556000 usd
CY2023Q1 strl Lessee Lease Termination Period
LesseeLeaseTerminationPeriod
P10Y
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
41000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4000 usd
CY2023Q1 us-gaap Lease Cost
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39000 usd
CY2022Q1 us-gaap Lease Cost
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45000 usd
CY2023Q1 us-gaap Operating Lease Payments
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4788000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2991000 usd
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
2000 usd
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
37000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
41000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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6956000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
15897000 usd
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CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
62278000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
59415000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
17376000 usd
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OperatingLeaseLiabilityCurrent
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CY2023Q1 us-gaap Operating Lease Liability Noncurrent
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45164000 usd
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OperatingLeaseLiabilityNoncurrent
40103000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
62540000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
59818000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1479000 usd
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FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1479000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1090000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1056000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
389000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
423000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
149000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
148000 usd
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38000 usd
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76000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
187000 usd
CY2022Q4 us-gaap Finance Lease Liability
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224000 usd
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P4Y2M12D
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P4Y6M
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y3M18D
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P1Y6M
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0.056
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.056
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.043
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.043
CY2023Q1 us-gaap Finance Lease Liability Payments Due After Year Five
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0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
70419000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15125000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
116000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19248000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
77000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16626000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10519000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2511000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1583000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4807000 usd
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
193000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7879000 usd
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
6000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
62540000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
187000 usd
CY2023Q1 strl Consolidated Entities Ownership Percentage
ConsolidatedEntitiesOwnershipPercentage
0.50
CY2023Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4305000 usd
CY2022Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
940000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2728000 usd
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5838000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7033000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6778000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
210000 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
316000 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2761000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2296000 usd
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 usd
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1580000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
1285000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-293000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
992000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-741000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax
170000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-571000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
2026000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
-463000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
1563000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19649000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17672000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
19649000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
19252000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30618000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29964000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
171000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
148000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30789000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30112000 shares
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.64
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.64
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.59
CY2023Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.05
CY2023Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.05
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
32498000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
5703000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
12662000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
16305000 usd
CY2023Q1 strl Increase Decrease In Receivables From And Equity In Construction Joint Ventures
IncreaseDecreaseInReceivablesFromAndEquityInConstructionJointVentures
-474000 usd
CY2022Q1 strl Increase Decrease In Receivables From And Equity In Construction Joint Ventures
IncreaseDecreaseInReceivablesFromAndEquityInConstructionJointVentures
2396000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1501000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1400000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3415000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2876000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1608000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
8280000 usd
CY2023Q1 strl Increase Decrease In Members Interest Subject To Mandatory Redemption And Undistributed Earnings
IncreaseDecreaseInMembersInterestSubjectToMandatoryRedemptionAndUndistributedEarnings
-3178000 usd
CY2022Q1 strl Increase Decrease In Members Interest Subject To Mandatory Redemption And Undistributed Earnings
IncreaseDecreaseInMembersInterestSubjectToMandatoryRedemptionAndUndistributedEarnings
-1789000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-10608000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
10783000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
190000 usd
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
255000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
32627000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
29363000 usd

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