$TREX
TREX CO INC

2016 Q2 Form 10-Q Financial Statement

#000119312516667627 Filed on August 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $146.5M $136.8M
YoY Change 7.07% 12.75%
Cost Of Revenue $85.04M $84.26M
YoY Change 0.93% 10.45%
Gross Profit $61.41M $52.52M
YoY Change 16.92% 16.65%
Gross Profit Margin 41.93% 38.4%
Selling, General & Admin $24.80M $22.47M
YoY Change 10.34% 10.46%
% of Gross Profit 40.38% 42.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.600M $3.700M
YoY Change -2.7% -5.13%
% of Gross Profit 5.86% 7.04%
Operating Expenses $24.80M $22.47M
YoY Change 10.34% 10.46%
Operating Profit $36.62M $30.05M
YoY Change 21.84% 21.76%
Interest Expense $458.0K $188.0K
YoY Change 143.62% -37.54%
% of Operating Profit 1.25% 0.63%
Other Income/Expense, Net
YoY Change
Pretax Income $36.16M $29.86M
YoY Change 21.07% 22.49%
Income Tax $12.43M $11.15M
% Of Pretax Income 34.38% 37.33%
Net Earnings $23.73M $18.72M
YoY Change 26.77% 23.44%
Net Earnings / Revenue 16.2% 13.68%
Basic Earnings Per Share $0.81 $0.59
Diluted Earnings Per Share $0.80 $0.58
COMMON SHARES
Basic Shares Outstanding 29.26M shares 31.74M shares
Diluted Shares Outstanding 29.48M shares 32.14M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $4.100M
YoY Change -36.59% -26.79%
Cash & Equivalents $2.553M $4.149M
Short-Term Investments
Other Short-Term Assets $700.0K $11.90M
YoY Change -94.12% -22.73%
Inventory $18.76M $18.63M
Prepaid Expenses $1.487M
Receivables $95.65M $124.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $130.3M $159.1M
YoY Change -18.13% 55.89%
LONG-TERM ASSETS
Property, Plant & Equipment $98.94M $105.5M
YoY Change -6.24% 7.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.037M $1.559M
YoY Change 30.66% 73.8%
Total Long-Term Assets $111.5M $117.6M
YoY Change -5.2% 7.23%
TOTAL ASSETS
Total Short-Term Assets $130.3M $159.1M
Total Long-Term Assets $111.5M $117.6M
Total Assets $241.8M $276.8M
YoY Change -12.63% 30.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.57M $19.95M
YoY Change -11.9% 2.42%
Accrued Expenses $30.20M $28.46M
YoY Change 6.1% 41.13%
Deferred Revenue
YoY Change
Short-Term Debt $43.00M $37.50M
YoY Change 14.67% 7.14%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $96.86M $94.10M
YoY Change 2.94% 12.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.611M $4.285M
YoY Change -15.73% 99.49%
Total Long-Term Liabilities $3.611M $4.285M
YoY Change -15.73% 99.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.86M $94.10M
Total Long-Term Liabilities $3.611M $4.285M
Total Liabilities $129.5M $125.3M
YoY Change 3.39% 8.89%
SHAREHOLDERS EQUITY
Retained Earnings $166.1M $107.6M
YoY Change 54.4% 87.95%
Common Stock $119.7M $118.9M
YoY Change 0.66% 34073.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $173.5M $75.00M
YoY Change 131.35% 0.0%
Treasury Stock Shares 5.494M shares 2.780M shares
Shareholders Equity $112.3M $151.5M
YoY Change
Total Liabilities & Shareholders Equity $241.8M $276.8M
YoY Change -12.63% 30.68%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $23.73M $18.72M
YoY Change 26.77% 23.44%
Depreciation, Depletion And Amortization $3.600M $3.700M
YoY Change -2.7% -5.13%
Cash From Operating Activities $100.9M $53.10M
YoY Change 90.02% -43.21%
INVESTING ACTIVITIES
Capital Expenditures -$2.800M -$5.000M
YoY Change -44.0% 194.12%
Acquisitions
YoY Change
Other Investing Activities $100.0K $0.00
YoY Change
Cash From Investing Activities -$2.600M -$5.000M
YoY Change -48.0% 194.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -99.60M -46.50M
YoY Change 114.19% -48.33%
NET CHANGE
Cash From Operating Activities 100.9M 53.10M
Cash From Investing Activities -2.600M -5.000M
Cash From Financing Activities -99.60M -46.50M
Net Change In Cash -1.300M 1.600M
YoY Change -181.25% -11.11%
FREE CASH FLOW
Cash From Operating Activities $100.9M $53.10M
Capital Expenditures -$2.800M -$5.000M
Free Cash Flow $103.7M $58.10M
YoY Change 78.49% -38.97%

Facts In Submission

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dei Entity Registrant Name
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TREX CO INC
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dei Entity Central Index Key
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0001069878
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>3.</b></td> <td valign="top" align="left"><b>NEW ACCOUNTING STANDARDS</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No.&#xA0;2014-09, &#x201C;<i>Revenue from Contracts with Customers.</i>&#x201D; The new standard requires an entity to recognize revenue at an amount that reflects the consideration to which the company expects to be entitled in exchange for transferring goods or services to a customer. The new revenue standard will be effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December&#xA0;15, 2017. The methods of adoption provided for in the new standard are the retrospective method and the cumulative effect method. In 2016, the FASB issued final amendments clarifying the implementation guidance for principal versus agent considerations, identifying performance obligations, and the accounting of intellectual property licenses. Also, the FASB provided for practical expedients related to disclosures of remaining performance obligations, and guidance on collectability, non-cash consideration and the presentation of sales and similar taxes. The Company is currently assessing the impact that adoption of the new standard and the guidance will have on its consolidated financial statements and related note disclosures and has not yet selected a method of adoption.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In February 2016, the FASB issued ASU No.&#xA0;2016-02, &#x201C;<i>Leases (Topic 842)</i>.&#x201D; The new standard requires lessees to recognize leases on the balance sheet as a right-of-use asset and a lease liability for all leases with terms greater than 12 months. The liability will be equal to the present value of the lease payments. The asset will be based on the liability, subject to adjustment. For income statement purposes, the leases will continue to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) and finance leases will result in a front-loaded expense pattern (similar to current capital leases). The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December&#xA0;15, 2018. Early adoption is permitted and the new standard must be adopted using the modified retrospective transition method, which includes a number of optional practical expedients that entities may elect to apply. The Company is currently assessing the impact of adoption of the new standard on its consolidated financial statements and related note disclosures.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In March 2016, the FASB issued ASU No.&#xA0;2016-09, &#x201C;<i>Compensation &#x2013; Stock Compensation (Topic 718)</i>.&#x201D; The guidance amends certain aspects of accounting for employee share-based payment transactions, including accounting for income taxes related to those transactions. The guidance will require recognizing excess tax benefits and deficiencies on share-based awards in the tax provision, instead of in equity. Also, the guidance requires these amounts to be classified as an operating activity and shares withheld to satisfy employee taxes to be classified as a financing activity in the statement of cash flow, rather than as currently classified as financing and operating activities, respectively. The guidance is effective for annual reporting periods beginning after December&#xA0;15, 2016 and interim periods within that reporting period. Early adoption is permitted.&#xA0;All provisions of the guidance must be adopted in the same period. The Company is currently evaluating the impact that adoption of the ASU will have on its consolidated financial statements and related disclosures. The guidance is required to be adopted as follows:</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Prospectively for the recognition of excess tax benefits and deficiencies in the tax provision</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Retrospectively or prospectively for the classification of income tax benefits and deficiencies in the statement of cash flow</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 6pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Retrospectively for the classification of shares withheld to satisfy employee taxes in the statement of cash flow</td> </tr> </table> </div>
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7417000
us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
0
dei Document Period End Date
DocumentPeriodEndDate
2016-06-30
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3442000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2945000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.57
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
46681000
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Sales Revenue Net
SalesRevenueNet
278126000
us-gaap Gross Profit
GrossProfit
119037000
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
800000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.357 pure
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
810000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-7901000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
137000
us-gaap Net Income Loss
NetIncomeLoss
46681000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
72600000
us-gaap Interest Expense
InterestExpense
1030000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-833000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
485000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
48268000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
194000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
54703000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-161000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
67000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4348000
us-gaap Operating Income Loss
OperatingIncomeLoss
73630000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-18241000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
204000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
11937000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13982000
us-gaap Payments For Restructuring
PaymentsForRestructuring
344000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25919000
us-gaap Nature Of Operations
NatureOfOperations
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>1.</b></td> <td valign="top" align="left"><b>BUSINESS AND ORGANIZATION</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Trex Company, Inc. (Company) is the world&#x2019;s largest manufacturer of wood-alternative decking and railing products, which are marketed under the brand name Trex<sup style="FONT-SIZE: 11px; VERTICAL-ALIGN: top">&#xAE;</sup>. The Company manufactures and distributes high-performance, low-maintenance wood/plastic composite outdoor living products and related accessories. A majority of its products are manufactured in a proprietary process that combines reclaimed wood fibers and scrap polyethylene. The Company is incorporated in Delaware. The principal executive offices are located at 160 Exeter Drive, Winchester, Virginia 22603, and the telephone number at that address is (540)&#xA0;542-6300. The Company operates in a single reportable segment.</p> </div>
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
15632000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
285000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5182000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4349000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
159089000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29642287 shares
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
45407000
us-gaap Share Based Compensation
ShareBasedCompensation
2945000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29423845 shares
us-gaap Interest Paid Net
InterestPaidNet
696000
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31735333 shares
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1669000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
158000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29481042 shares
dei Trading Symbol
TradingSymbol
TREX
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1262000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32142939 shares
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22472000
trex Number Of Stock Based Compensation Plan
NumberOfStockBasedCompensationPlan
1 Plan
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18715000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
136779000
CY2015Q2 us-gaap Gross Profit
GrossProfit
52524000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
18715000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
29864000
CY2015Q2 us-gaap Interest Expense
InterestExpense
188000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
30052000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11149000
CY2015Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
84255000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23279000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
146450000
CY2016Q2 us-gaap Gross Profit
GrossProfit
61410000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
23279000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
36157000
CY2016Q2 us-gaap Interest Expense
InterestExpense
458000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
36615000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12878000
CY2016Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
85040000
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24795000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29264362 shares

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