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10-Q Filing

BENCHMARK ELECTRONICS INC CIK: 863436 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000863436-20-000015
Period End Date 20200331
Filing Date 20200508
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance bhe-20200331_htm.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $10.09M USD Point-in-time
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $10.09M USD Point-in-time
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $478.62M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $411.79M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $347.56M USD Point-in-time
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $460.71M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Restricted cash RestrictedCashCurrent - USD Point-in-time
Restricted cash RestrictedCashCurrent $16.40M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $10,085 and $10,085, respectively AccountsReceivableNetCurrent $317.86M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $10,085 and $10,085, respectively AccountsReceivableNetCurrent $324.42M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred shares, issued PreferredStockSharesIssued - shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $161.06M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $159.96M USD Point-in-time
Preferred shares, issued PreferredStockSharesIssued - shares Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Inventories InventoryNet $338.44M USD Point-in-time
Inventories InventoryNet $314.96M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $35.86M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $29.57M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common stock, issued CommonStockSharesIssued 36.41M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.12M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.09M USD Point-in-time
Common stock, issued CommonStockSharesIssued 36.96M shares Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 36.41M shares Point-in-time
Total current assets AssetsCurrent $1.27B USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 36.96M shares Point-in-time
Total current assets AssetsCurrent $1.20B USD Point-in-time
Property, plant and equipment, net of accumulated depreciationof $478,616 and $460,708, respectively PropertyPlantAndEquipmentNet $205.82M USD Point-in-time
Property, plant and equipment, net of accumulated depreciationof $478,616 and $460,708, respectively PropertyPlantAndEquipmentNet $201.58M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $76.86M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $77.03M USD Point-in-time
Goodwill Goodwill $192.12M USD Point-in-time
Goodwill Goodwill $192.12M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $5.27M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $5.27M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $84.72M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $82.38M USD Point-in-time
Total assets Assets $1.82B USD Point-in-time
Total assets Assets $1.76B USD Point-in-time
Current installments of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $8.87M USD Point-in-time
Current installments of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $8.82M USD Point-in-time
Accounts payable AccountsPayableCurrent $302.99M USD Point-in-time
Accounts payable AccountsPayableCurrent $315.73M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $7.89M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $7.54M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $127.20M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $139.53M USD Point-in-time
Total current liabilities LiabilitiesCurrent $459.25M USD Point-in-time
Total current liabilities LiabilitiesCurrent $459.34M USD Point-in-time
Long-term debt, less current installments LongTermDebtAndCapitalLeaseObligations $138.91M USD Point-in-time
Long-term debt, less current installments LongTermDebtAndCapitalLeaseObligations $231.80M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $67.90M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $67.01M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $65.48M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $64.37M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $13.50M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $11.25M USD Point-in-time
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - and outstanding - 36,415 and 36,957, respectively CommonStockValue $3.64M USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - and outstanding - 36,415 and 36,957, respectively CommonStockValue $3.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $512.02M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $505.28M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $502.69M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $515.88M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-22.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-16.76M USD Point-in-time
Total shareholders' equity StockholdersEquity $1.01B USD Point-in-time
Total shareholders' equity StockholdersEquity $989.62M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.76B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.82B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net sales Revenues $514.96M USD 1 Quarter
Net sales Revenues $602.82M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $471.60M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $552.78M USD 1 Quarter
Gross profit GrossProfit $43.36M USD 1 Quarter
Gross profit GrossProfit $50.04M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $30.01M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $31.57M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.37M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.38M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $1.58M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $2.92M USD 1 Quarter
Income from operations OperatingIncomeLoss $16.09M USD 1 Quarter
Income from operations OperatingIncomeLoss $6.49M USD 1 Quarter
Interest expense InterestExpense $1.61M USD 1 Quarter
Interest expense InterestExpense $1.70M USD 1 Quarter
Interest income InvestmentIncomeInterest $599.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $1.30M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-662.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $1.60M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $4.72M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $17.38M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $3.61M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $873.00K USD 1 Quarter
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $13.77M USD 1 Quarter
Basic EarningsPerShareBasic $0.34 USD 1 Quarter
Basic EarningsPerShareBasic $0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 40.63M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 36.79M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 37.07M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 40.85M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $13.77M USD 1 Quarter
Depreciation Depreciation $9.30M USD 1 Quarter
Depreciation Depreciation $9.32M USD 1 Quarter
Amortization AdjustmentForAmortization $2.89M USD 1 Quarter
Amortization AdjustmentForAmortization $2.85M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $-1.66M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $685.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-885.00K USD 1 Quarter
Asset impairments AssetImpairmentCharges - USD 1 Quarter
Asset impairments AssetImpairmentCharges $1.01M USD 1 Quarter
(Gain) loss on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $31.00K USD 1 Quarter
(Gain) loss on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-2.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.74M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.77M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-6.41M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-64.18M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-1.10M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $16.94M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $23.77M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.86M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.11M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-3.06M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $14.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-45.91M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-11.04M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-17.17M USD 1 Quarter
Operating leases IncreaseDecreaseInLeasingReceivables $83.00K USD 1 Quarter
Operating leases IncreaseDecreaseInLeasingReceivables $-543.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $659.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-250.00K USD 1 Quarter
Net cash provided by (used in) operations NetCashProvidedByUsedInOperatingActivities $16.41M USD 1 Quarter
Net cash provided by (used in) operations NetCashProvidedByUsedInOperatingActivities $-3.11M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $9.33M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.86M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $7.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $1.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $748.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $1.04M USD 1 Quarter
Cash received from business divestitures ProceedsFromDivestitureOfBusinesses $1.34M USD 1 Quarter
Cash received from business divestitures ProceedsFromDivestitureOfBusinesses - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-57.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $98.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.49M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-10.17M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $279.00K USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $359.00K USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.24M USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.77M USD 1 Quarter
Dividends paid PaymentsOfDividends $6.20M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.54M USD 1 Quarter
Borrowings under credit agreement ProceedsFromIssuanceOfMediumTermNotes $110.00M USD 1 Quarter
Borrowings under credit agreement ProceedsFromIssuanceOfMediumTermNotes - USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebtAndCapitalSecurities $17.19M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebtAndCapitalSecurities $274.00K USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $19.33M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $61.08M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-68.51M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $66.54M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-4.11M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-515.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-62.79M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $47.83M USD 1 Quarter
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $395.32M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $363.96M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $411.79M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $458.10M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $411.79M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $458.10M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $363.96M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $395.32M USD Point-in-time
Stockholders Equity 28 line items
Line Item Tag Value Unit Period
Balances, shares CommonStockSharesOutstanding 36.41M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 36.96M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 36.41M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 36.96M shares Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.62M USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.08B USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.01B USD Point-in-time
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.74M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.77M USD 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $61.08M USD 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $19.33M USD 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $359.00K USD 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $279.00K USD 1 Quarter
Vesting of restricted stock units, value StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Vesting of restricted stock units, value StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Shares withheld for taxes, value RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-1.24M USD 1 Quarter
Shares withheld for taxes, value RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-1.77M USD 1 Quarter
Dividends declared Dividends $5.88M USD 1 Quarter
Dividends declared Dividends $5.83M USD 1 Quarter
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $13.77M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-5.24M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-2.13M USD 1 Quarter
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.08B USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.62M USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.01B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $13.77M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-833.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.26M USD 1 Quarter
Unrealized loss on derivative, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-1.28M USD 1 Quarter
Unrealized loss on derivative, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-4.09M USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $115.00K USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $-15.00K USD 1 Quarter
Other comprehensive income (loss): OtherComprehensiveIncomeLossNetOfTax $-5.24M USD 1 Quarter
Other comprehensive income (loss): OtherComprehensiveIncomeLossNetOfTax $-2.13M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-1.38M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $11.64M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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