2024 Q2 Form 10-Q Financial Statement

#000089541924000038 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $200.7M $200.7M
YoY Change -14.89% -12.24%
Cost Of Revenue $198.3M $178.2M
YoY Change 15.83% 10.96%
Gross Profit $2.400M $22.50M
YoY Change -96.28% -66.96%
Gross Profit Margin 1.2% 11.21%
Selling, General & Admin $61.60M $55.80M
YoY Change -3.9% -7.77%
% of Gross Profit 2566.67% 248.0%
Research & Development $60.00M $52.50M
YoY Change 5.08% -6.42%
% of Gross Profit 2500.0% 233.33%
Depreciation & Amortization $45.30M $47.00M
YoY Change -1.09% 14.36%
% of Gross Profit 1887.5% 208.89%
Operating Expenses $121.8M $113.9M
YoY Change -10.9% -2.32%
Operating Profit -$119.4M -$91.40M
YoY Change 65.6% -10.3%
Interest Expense -$23.50M $59.50M
YoY Change -659.52% 321.99%
% of Operating Profit
Other Income/Expense, Net -$100.0K -$42.40M
YoY Change -92.31% -1562.07%
Pretax Income -$174.4M -$148.8M
YoY Change 54.34% 50.3%
Income Tax $500.0K $100.0K
% Of Pretax Income
Net Earnings -$174.9M -$148.9M
YoY Change 54.37% 49.65%
Net Earnings / Revenue -87.14% -74.19%
Basic Earnings Per Share -$1.18
Diluted Earnings Per Share -$1.39 -$1.18
COMMON SHARES
Basic Shares Outstanding 125.9M shares 125.8M shares
Diluted Shares Outstanding 125.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.175B $2.551B
YoY Change -26.41% 13.46%
Cash & Equivalents $1.046B $2.551B
Short-Term Investments $1.129B $1.409B
Other Short-Term Assets $179.8M $233.8M
YoY Change -4.21% 108.75%
Inventory $440.7M $421.2M
Prepaid Expenses $56.60M $71.10M
Receivables $147.4M $124.3M
Other Receivables $30.60M $800.0K
Total Short-Term Assets $3.000B $3.331B
YoY Change -17.27% 16.93%
LONG-TERM ASSETS
Property, Plant & Equipment $3.752B $3.222B
YoY Change 70.21% 63.22%
Goodwill $359.2M $359.2M
YoY Change 0.0% 0.0%
Intangibles $23.90M $23.70M
YoY Change -79.38% -79.92%
Long-Term Investments $79.30M $68.10M
YoY Change
Other Assets $866.9M $689.5M
YoY Change 176.7% 211.99%
Total Long-Term Assets $4.985B $4.365B
YoY Change 66.44% 67.51%
TOTAL ASSETS
Total Short-Term Assets $3.000B $3.331B
Total Long-Term Assets $4.985B $4.365B
Total Assets $7.985B $7.696B
YoY Change 20.6% 41.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.00M $556.0M
YoY Change -90.72% 1127.37%
Accrued Expenses $478.9M $510.3M
YoY Change 392.19% 5.74%
Deferred Revenue $62.30M $55.80M
YoY Change 44.88% 34.46%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $500.0K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $665.3M $727.0M
YoY Change 0.51% 19.73%
LONG-TERM LIABILITIES
Long-Term Debt $6.170B $5.673B
YoY Change 47.46% 87.08%
Other Long-Term Liabilities $256.4M $262.4M
YoY Change 72.43% 151.34%
Total Long-Term Liabilities $6.437B $5.936B
YoY Change 48.56% 89.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $665.3M $727.0M
Total Long-Term Liabilities $6.437B $5.936B
Total Liabilities $7.103B $6.674B
YoY Change 42.08% 78.06%
SHAREHOLDERS EQUITY
Retained Earnings -$2.928B -$2.754B
YoY Change 41.87% 41.14%
Common Stock $200.0K $200.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $882.1M $1.023B
YoY Change
Total Liabilities & Shareholders Equity $7.985B $7.696B
YoY Change 20.6% 41.09%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$174.9M -$148.9M
YoY Change 54.37% 49.65%
Depreciation, Depletion And Amortization $45.30M $47.00M
YoY Change -1.09% 14.36%
Cash From Operating Activities -$239.5M -$136.4M
YoY Change 361.46% 1140.0%
INVESTING ACTIVITIES
Capital Expenditures $645.9M $578.6M
YoY Change 51.12% 96.67%
Acquisitions
YoY Change
Other Investing Activities $277.1M $453.9M
YoY Change -1.42% 2828.39%
Cash From Investing Activities -$368.8M -$124.7M
YoY Change 152.08% -55.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 511.9M 499.1M
YoY Change -55.87% -166466.67%
NET CHANGE
Cash From Operating Activities -239.5M -136.4M
Cash From Investing Activities -368.8M -124.7M
Cash From Financing Activities 511.9M 499.1M
Net Change In Cash -96.40M 238.0M
YoY Change -110.02% -182.07%
FREE CASH FLOW
Cash From Operating Activities -$239.5M -$136.4M
Capital Expenditures $645.9M $578.6M
Free Cash Flow -$885.4M -$715.0M
YoY Change 84.73% 134.27%

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CY2023Q1 us-gaap Cost Of Goods And Services Sold
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us-gaap Cost Of Goods And Services Sold
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531500000 usd
CY2024Q1 us-gaap Gross Profit
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22500000 usd
CY2023Q1 us-gaap Gross Profit
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59800000 usd
us-gaap Selling General And Administrative Expense
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184800000 usd
us-gaap Selling General And Administrative Expense
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155500000 usd
CY2024Q1 wolf Factory Optimization Start Up Costs
FactoryOptimizationStartUpCosts
14400000 usd
CY2023Q1 wolf Factory Optimization Start Up Costs
FactoryOptimizationStartUpCosts
44600000 usd
wolf Factory Optimization Start Up Costs
FactoryOptimizationStartUpCosts
33300000 usd
us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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-3.18
us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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125830000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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125830000 shares
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124439000 shares
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124439000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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22500000 usd
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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16900000 usd
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23200000 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
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CY2022Q3 us-gaap Stockholders Equity
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3700000 usd
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400000 usd
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21400000 usd
CY2022Q4 us-gaap Stock Issued During Period Value New Issues
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10700000 usd
CY2022Q4 us-gaap Adjustment To Additional Paid In Capital Convertible Debt Instrument Issued At Substantial Premium
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CY2022Q4 us-gaap Stockholders Equity
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1780200000 usd
CY2023Q1 us-gaap Net Income Loss
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5500000 usd
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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20800000 usd
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200000 usd
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
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us-gaap Depreciation Depletion And Amortization
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135700000 usd
us-gaap Depreciation Depletion And Amortization
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104500000 usd
us-gaap Amortization Of Financing Costs And Discounts
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21700000 usd
us-gaap Amortization Of Financing Costs And Discounts
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5200000 usd
us-gaap Share Based Compensation
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63900000 usd
us-gaap Share Based Compensation
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7300000 usd
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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21400000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Deferred Income Taxes And Tax Credits
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132900000 usd
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54400000 usd
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83600000 usd
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13200000 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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11700000 usd
us-gaap Increase Decrease In Contract With Customer Liability
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23500000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Intangible Assets
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4300000 usd
us-gaap Payments To Acquire Intangible Assets
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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400000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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1244100000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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238400000 usd
us-gaap Proceeds From Sale Of Short Term Investments
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52700000 usd
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81800000 usd
wolf Proceeds From Grants
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178400000 usd
wolf Proceeds From Grants
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131000000.0 usd
us-gaap Proceeds From Divestiture Of Businesses
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75600000 usd
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101800000 usd
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities
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1500000000 usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
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us-gaap Proceeds From Issuance Of Common Stock
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10900000 usd
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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17700000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
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300000 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
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wolf Payment Of Commitment Fee
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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345600000 usd
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1757000000 usd
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449500000 usd
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795100000 usd
CY2023Q4 wolf Restructuring And Related Cost Facility Transfer Period Threshold
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CY2023Q4 wolf Restructuring And Related Cost Lease Not Yet Commenced Period
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CY2021Q1 wolf Disposal Group Including Discontinued Operation Term Of Continuing Supply Of Materials And Services
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CY2023Q2 us-gaap Contract With Customer Liability
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CY2024Q1 wolf Revenue From Contract With Customer Number Of Product Lines
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200700000 usd
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset
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CY2024Q1 wolf Lessee Operating Lease Liability Future Tenant Improvement Allowances
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CY2024Q1 wolf Finance Lease Weighted Average Discount Rate Percent Excluding49 Year Ground Lease
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.36
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.13
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.13
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-2.32
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-2.32
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.38
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.38
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3900000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2900000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2900000 shares
CY2024Q1 wolf Share Based Compensation Equity Based Compensation Plan Number
ShareBasedCompensationEquityBasedCompensationPlanNumber
1 compensationplan
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanPurchasePeriod
P12M
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Duration Of Single Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanDurationOfSinglePurchasePeriod
P6M
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Duration Of Single Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanDurationOfSinglePurchasePeriod
P6M
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanPurchasePeriod
P12M
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanPurchasePeriod
P12M
wolf Share Based Compensation Arrangement By Share Based Payment Award Employee Stock Purchase Plan Duration Of Single Purchase Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEmployeeStockPurchasePlanDurationOfSinglePurchasePeriod
P6M
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21800000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
63900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
56300000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9800000 usd
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1300000 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
500000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9000000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9000000 usd
CY2024Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
800000 usd
CY2020Q2 wolf Grant Disbursement Agreement Term
GrantDisbursementAgreementTerm
P13Y
CY2020Q2 wolf Grant Disbursement Agreement Annual Commitment Fee Payment Duration
GrantDisbursementAgreementAnnualCommitmentFeePaymentDuration
P6Y
CY2020Q2 wolf Grant Disbursement Agreement Number Of Endowed Faculty Chairs Created
GrantDisbursementAgreementNumberOfEndowedFacultyChairsCreated
2 endowedfacultychair
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
500000000 usd
wolf Proceeds From Grants
ProceedsFromGrants
425400000 usd
wolf Proceeds From Grants Receivables
ProceedsFromGrantsReceivables
74600000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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