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10-Q Filing

CROWN CASTLE INC. CIK: 1051470 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001051470-23-000106
Period End Date 20230331
Filing Date 20230503
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance cci-20230331_htm.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Accumulated depreciation, property and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $13.38B USD Point-in-time
Accumulated depreciation, property and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $13.07B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 433.00M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 434.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.20B shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.20B shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $156.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $187.00M USD Point-in-time
Restricted cash, current RestrictedCashAndCashEquivalentsAtCarryingValue $166.00M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Restricted cash, current RestrictedCashAndCashEquivalentsAtCarryingValue $196.00M USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $593.00M USD Point-in-time
Receivables, net AccountsReceivableNetCurrent $565.00M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $159.00M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $102.00M USD Point-in-time
Deferred site rental receivables DeferredRentReceivablesNet $125.00M USD Point-in-time
Deferred site rental receivables DeferredRentReceivablesNet $127.00M USD Point-in-time
Other current assets OtherAssetsCurrent $93.00M USD Point-in-time
Other current assets OtherAssetsCurrent $73.00M USD Point-in-time
Assets, Current, Total AssetsCurrent $1.22B USD Point-in-time
Assets, Current, Total AssetsCurrent $1.32B USD Point-in-time
Deferred site rental receivables DeferredRentReceivablesNetNoncurrent $2.04B USD Point-in-time
Deferred site rental receivables DeferredRentReceivablesNetNoncurrent $1.95B USD Point-in-time
Property and equipment, net of accumulated depreciation of $13,377 and $13,071, respectively PropertyPlantAndEquipmentNet $15.49B USD Point-in-time
Property and equipment, net of accumulated depreciation of $13,377 and $13,071, respectively PropertyPlantAndEquipmentNet $15.41B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $6.53B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $6.48B USD Point-in-time
Goodwill Goodwill $10.09B USD Point-in-time
Goodwill Goodwill $10.09B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $3.50B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $3.60B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $134.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $136.00M USD Point-in-time
Assets, Total Assets $38.92B USD Point-in-time
Assets, Total Assets $39.05B USD Point-in-time
Accounts payable AccountsPayableCurrent $236.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $233.00M USD Point-in-time
Accrued interest InterestPayableCurrent $132.00M USD Point-in-time
Accrued interest InterestPayableCurrent $183.00M USD Point-in-time
Deferred revenues DeferredRevenueCurrent $736.00M USD Point-in-time
Deferred revenues DeferredRevenueCurrent $721.00M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $407.00M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $300.00M USD Point-in-time
Current maturities of debt and other obligations DebtCurrent $819.00M USD Point-in-time
Current maturities of debt and other obligations DebtCurrent $819.00M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $330.00M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $350.00M USD Point-in-time
Liabilities, Current, Total LiabilitiesCurrent $2.54B USD Point-in-time
Liabilities, Current, Total LiabilitiesCurrent $2.73B USD Point-in-time
Debt and other long-term obligations LongTermDebtAndCapitalLeaseObligations $20.91B USD Point-in-time
Debt and other long-term obligations LongTermDebtAndCapitalLeaseObligations $21.51B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $5.86B USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $5.88B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.93B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.95B USD Point-in-time
Liabilities, Total Liabilities $31.83B USD Point-in-time
Liabilities, Total Liabilities $31.47B USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common Stock, Value, Issued CommonStockValue $4.00M USD Point-in-time
Common Stock, Value, Issued CommonStockValue $4.00M USD Point-in-time
Additional Paid in Capital AdditionalPaidInCapital $18.12B USD Point-in-time
Additional Paid in Capital AdditionalPaidInCapital $18.15B USD Point-in-time
Accumulated Other Comprehensive Income (Loss), Net of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.00M USD Point-in-time
Accumulated Other Comprehensive Income (Loss), Net of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.00M USD Point-in-time
Retained Earnings (Accumulated Deficit) RetainedEarningsAccumulatedDeficit $-10.67B USD Point-in-time
Retained Earnings (Accumulated Deficit) RetainedEarningsAccumulatedDeficit $-10.93B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.22B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.04B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.26B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.45B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $39.05B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $38.92B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Site Rental Siterentalrevenues $1.58B USD 1 Quarter
Site Rental Siterentalrevenues $1.62B USD 1 Quarter
Services and other RevenueFromContractWithCustomerExcludingAssessedTax $166.00M USD 1 Quarter
Services and other RevenueFromContractWithCustomerExcludingAssessedTax $149.00M USD 1 Quarter
Net Revenues Revenues $1.74B USD 1 Quarter
Net Revenues Revenues $1.77B USD 1 Quarter
Site rental DirectCostsOfLeasedAndRentedPropertyOrEquipment $396.00M USD 1 Quarter
Site rental DirectCostsOfLeasedAndRentedPropertyOrEquipment $415.00M USD 1 Quarter
Services and other CostOfGoodsAndServicesSold $104.00M USD 1 Quarter
Services and other CostOfGoodsAndServicesSold $113.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $195.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $181.00M USD 1 Quarter
Asset write-down charges AssetImpairmentCharges $14.00M USD 1 Quarter
Asset write-down charges AssetImpairmentCharges - USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $431.00M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $420.00M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.12B USD 1 Quarter
Total operating expenses CostsAndExpenses $1.15B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $618.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $628.00M USD 1 Quarter
Interest expense and amortization of deferred financing costs, net InterestExpenseDebt $202.00M USD 1 Quarter
Interest expense and amortization of deferred financing costs, net InterestExpenseDebt $164.00M USD 1 Quarter
Gains (losses) on retirement of long-term obligations GainsLossesOnExtinguishmentOfDebt $-26.00M USD 1 Quarter
Gains (losses) on retirement of long-term obligations GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Interest income InvestmentIncomeInterest - USD 1 Quarter
Interest income InvestmentIncomeInterest $2.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-3.00M USD 1 Quarter
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $427.00M USD 1 Quarter
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $425.00M USD 1 Quarter
Benefit (provision) for income taxes IncomeTaxExpenseBenefit $6.00M USD 1 Quarter
Benefit (provision) for income taxes IncomeTaxExpenseBenefit $7.00M USD 1 Quarter
Net Income (Loss) Attributable to Parent NetIncomeLoss $418.00M USD 1 Quarter
Net Income (Loss) Attributable to Parent NetIncomeLoss $421.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.00M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $1.00M USD 1 Quarter
Weighted-average common shares outstanding, basic WeightedAverageNumberOfSharesOutstandingBasic 433.00M shares 1 Quarter
Weighted-average common shares outstanding, basic WeightedAverageNumberOfSharesOutstandingBasic 433.00M shares 1 Quarter
Weighted-average common shares outstanding, diluted WeightedAverageNumberOfDilutedSharesOutstanding 434.00M shares 1 Quarter
Weighted-average common shares outstanding, diluted WeightedAverageNumberOfDilutedSharesOutstanding 434.00M shares 1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent ComprehensiveIncomeNetOfTax $422.00M USD 1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent ComprehensiveIncomeNetOfTax $417.00M USD 1 Quarter
Earnings Per Share, Basic EarningsPerShareBasic $0.97 USD 1 Quarter
Earnings Per Share, Basic EarningsPerShareBasic $0.97 USD 1 Quarter
Earnings Per Share, Diluted EarningsPerShareDiluted $0.97 USD 1 Quarter
Earnings Per Share, Diluted EarningsPerShareDiluted $0.97 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net Income (Loss) Attributable to Parent NetIncomeLoss $418.00M USD 1 Quarter
Net Income (Loss) Attributable to Parent NetIncomeLoss $421.00M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $431.00M USD 1 Quarter
Depreciation, amortization and accretion DepreciationAmortizationAndAccretionNet $420.00M USD 1 Quarter
Gains (losses) on retirement of long-term obligations GainsLossesOnExtinguishmentOfDebt $-26.00M USD 1 Quarter
Gains (losses) on retirement of long-term obligations GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Amortization of deferred financing costs and other non-cash interest AmortizationOfFinancingCostsAndDiscounts $7.00M USD 1 Quarter
Amortization of deferred financing costs and other non-cash interest AmortizationOfFinancingCostsAndDiscounts $4.00M USD 1 Quarter
Stock-based compensation expense, net ShareBasedCompensation $41.00M USD 1 Quarter
Stock-based compensation expense, net ShareBasedCompensation $38.00M USD 1 Quarter
Asset write-down charges AssetImpairmentCharges $14.00M USD 1 Quarter
Asset write-down charges AssetImpairmentCharges - USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $1.00M USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $1.00M USD 1 Quarter
Other non-cash adjustments, net OtherNoncashIncomeExpense $1.00M USD 1 Quarter
Other non-cash adjustments, net OtherNoncashIncomeExpense $2.00M USD 1 Quarter
Increase (decrease) in accrued interest IncreaseDecreaseInInterestPayableNet $-51.00M USD 1 Quarter
Increase (decrease) in accrued interest IncreaseDecreaseInInterestPayableNet $-65.00M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayableTrade $-13.00M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayableTrade $-5.00M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-196.00M USD 1 Quarter
Increase (decrease) in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-127.00M USD 1 Quarter
Decrease (increase) in receivables IncreaseDecreaseInReceivables $-28.00M USD 1 Quarter
Decrease (increase) in receivables IncreaseDecreaseInReceivables $-40.00M USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $139.00M USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $133.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $606.00M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $558.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $281.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $341.00M USD 1 Quarter
Payments for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $67.00M USD 1 Quarter
Payments for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $3.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $-1.00M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $5.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-289.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-407.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $748.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $999.00M USD 1 Quarter
Principal payments on debt and other long-term obligations RepaymentsOfOtherDebt $18.00M USD 1 Quarter
Principal payments on debt and other long-term obligations RepaymentsOfOtherDebt $19.00M USD 1 Quarter
Purchases and redemptions of long-term debt RepaymentsOfLongTermDebt $1.27B USD 1 Quarter
Purchases and redemptions of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Borrowings under revolving credit facility ProceedsFromLinesOfCredit $1.43B USD 1 Quarter
Borrowings under revolving credit facility ProceedsFromLinesOfCredit $900.00M USD 1 Quarter
Payments under revolving credit facility RepaymentsOfLinesOfCredit $665.00M USD 1 Quarter
Payments under revolving credit facility RepaymentsOfLinesOfCredit $1.30B USD 1 Quarter
Net issuances (repayments) under commercial paper program ProceedsFromRepaymentsOfCommercialPaper $777.00M USD 1 Quarter
Net issuances (repayments) under commercial paper program ProceedsFromRepaymentsOfCommercialPaper $-524.00M USD 1 Quarter
Payments for financing costs PaymentsOfFinancingCosts $10.00M USD 1 Quarter
Payments for financing costs PaymentsOfFinancingCosts $8.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $63.00M USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $28.00M USD 1 Quarter
Dividends/distributions paid on common stock PaymentsOfDividendsCommonStock $686.00M USD 1 Quarter
Dividends/distributions paid on common stock PaymentsOfDividendsCommonStock $650.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-139.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-253.00M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $60.00M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $16.00M USD 1 Quarter
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents - USD 1 Quarter
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $327.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $388.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $482.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $466.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $327.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $388.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $482.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $466.00M USD Point-in-time
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Balance, shares Period Start CommonStockSharesOutstanding 433.00M shares Point-in-time
Balance, shares Period Start CommonStockSharesOutstanding 434.00M shares Point-in-time
Balance, value Period Start StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.22B USD Point-in-time
Balance, value Period Start StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.04B USD Point-in-time
Balance, value Period Start StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.26B USD Point-in-time
Balance, value Period Start StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.45B USD Point-in-time
Stock-based compensation related activity, net of forfeitures, value StockIssuedDuringPeriodValueShareBasedCompensation $58.00M USD 1 Quarter
Stock-based compensation related activity, net of forfeitures, value StockIssuedDuringPeriodValueShareBasedCompensation $66.00M USD 1 Quarter
Purchases and retirement of common stock, value StockRepurchasedAndRetiredDuringPeriodValue $63.00M USD 1 Quarter
Purchases and retirement of common stock, value StockRepurchasedAndRetiredDuringPeriodValue $28.00M USD 1 Quarter
Common stock dividends/distributions DividendsCommonStock $639.00M USD 1 Quarter
Common stock dividends/distributions DividendsCommonStock $681.00M USD 1 Quarter
Net income (loss) ProfitLoss $421.00M USD 1 Quarter
Net income (loss) ProfitLoss $418.00M USD 1 Quarter
Balance, shares Period End CommonStockSharesOutstanding 433.00M shares Point-in-time
Balance, shares Period End CommonStockSharesOutstanding 434.00M shares Point-in-time
Balance, value Period End StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.22B USD Point-in-time
Balance, value Period End StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.04B USD Point-in-time
Balance, value Period End StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.26B USD Point-in-time
Balance, value Period End StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $7.45B USD Point-in-time
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $1.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.00M USD 1 Quarter

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

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