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10-Q Filing

COMPASS MINERALS INTERNATIONAL INC CIK: 1227654 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001227654-24-000036
Period End Date 20231231
Filing Date 20240208
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance cmp-20231231_htm.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.30M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.60M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.70M USD Point-in-time
Receivables, less allowance for doubtful accounts of $2.6 at December 31, 2023 and $2.3 at September 30, 2023 ReceivablesNetCurrent $129.50M USD Point-in-time
Receivables, less allowance for doubtful accounts of $2.6 at December 31, 2023 and $2.3 at September 30, 2023 ReceivablesNetCurrent $168.60M USD Point-in-time
Common stock, par or stated value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par or stated value per share (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Inventories InventoryNet $392.50M USD Point-in-time
Inventories InventoryNet $392.20M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 200.00M shares Point-in-time
Other OtherAssetsCurrent $33.40M USD Point-in-time
Other OtherAssetsCurrent $28.40M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 200.00M shares Point-in-time
Total current assets AssetsCurrent $593.80M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 42.20M shares Point-in-time
Total current assets AssetsCurrent $627.80M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 42.20M shares Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 976,106.00 shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $852.20M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $803.00M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 1.04M shares Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $119.50M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $120.00M USD Point-in-time
Goodwill Goodwill $97.20M USD Point-in-time
Goodwill Goodwill $96.80M USD Point-in-time
Other OtherAssetsNoncurrent $157.80M USD Point-in-time
Other OtherAssetsNoncurrent $155.20M USD Point-in-time
Total assets Assets $1.82B USD Point-in-time
Total assets Assets $1.81B USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $5.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $116.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $85.90M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $19.50M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $25.70M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $16.50M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $2.10M USD Point-in-time
Accrued interest InterestPayableCurrent $12.90M USD Point-in-time
Accrued interest InterestPayableCurrent $4.40M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $87.40M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $98.90M USD Point-in-time
Total current liabilities LiabilitiesCurrent $204.30M USD Point-in-time
Total current liabilities LiabilitiesCurrent $275.80M USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $908.70M USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $800.30M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $58.50M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxLiabilitiesNet $60.70M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $166.20M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $171.80M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock: $0.01 par value, 200,000,000 authorized shares; 42,197,964 issued shares at December 31, 2023 and September 30, 2023 CommonStockValue $400.00K USD Point-in-time
Common stock: $0.01 par value, 200,000,000 authorized shares; 42,197,964 issued shares at December 31, 2023 and September 30, 2023 CommonStockValue $400.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $413.10M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $424.80M USD Point-in-time
Treasury stock, at cost 976,106 shares at December 31, 2023 and 1,038,168 shares at September 30, 2023 TreasuryStockCommonValue $9.30M USD Point-in-time
Treasury stock, at cost 976,106 shares at December 31, 2023 and 1,038,168 shares at September 30, 2023 TreasuryStockCommonValue $8.70M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $217.10M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $135.60M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-91.70M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-104.70M USD Point-in-time
Total stockholders equity StockholdersEquity $517.20M USD Point-in-time
Total stockholders equity StockholdersEquity $509.80M USD Point-in-time
Total stockholders equity StockholdersEquity $256.40M USD Point-in-time
Total stockholders equity StockholdersEquity $459.80M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.81B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.82B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Sales RevenueFromContractWithCustomerExcludingAssessedTax $352.40M USD 1 Quarter
Sales RevenueFromContractWithCustomerExcludingAssessedTax $341.70M USD 1 Quarter
Gross profit GrossProfit $70.60M USD 1 Quarter
Gross profit GrossProfit $70.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $41.80M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $45.70M USD 1 Quarter
Loss on impairment of long-lived assets, net AssetImpairmentCharges $74.80M USD 1 Quarter
Loss on impairment of long-lived assets, net AssetImpairmentCharges - USD 1 Quarter
Other operating expense OtherOperatingIncomeExpenseNet $-300.00K USD 1 Quarter
Other operating expense OtherOperatingIncomeExpenseNet $-5.40M USD 1 Quarter
Operating (loss) earnings OperatingIncomeLoss $27.90M USD 1 Quarter
Operating (loss) earnings OperatingIncomeLoss $-55.30M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.10M USD 1 Quarter
Interest income InvestmentIncomeInterest $400.00K USD 1 Quarter
Interest expense InterestExpense $13.90M USD 1 Quarter
Interest expense InterestExpense $15.80M USD 1 Quarter
Loss on foreign exchange ForeignCurrencyTransactionGainLossBeforeTax $-1.90M USD 1 Quarter
Loss on foreign exchange ForeignCurrencyTransactionGainLossBeforeTax $-2.50M USD 1 Quarter
Net loss in equity investee IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Net loss in equity investee IncomeLossFromEquityMethodInvestments $-900.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-700.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-100.00K USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-73.30M USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $11.60M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.80M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $11.90M USD 1 Quarter
Net loss IncomeLossFromContinuingOperations $-300.00K USD 1 Quarter
Net loss IncomeLossFromContinuingOperations $-75.10M USD 1 Quarter
Basic net loss per common share (in dollars per share) EarningsPerShareBasic $-0.01 USD 1 Quarter
Basic net loss per common share (in dollars per share) EarningsPerShareBasic $-1.83 USD 1 Quarter
Diluted net loss per common share (in dollars per share) EarningsPerShareDiluted $-0.01 USD 1 Quarter
Diluted net loss per common share (in dollars per share) EarningsPerShareDiluted $-1.83 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 41.20M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 39.75M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 41.20M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 39.75M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net earnings (loss) NetIncomeLoss $-300.00K USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-75.10M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $25.50M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $23.90M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $600.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $700.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $10.60M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $11.90M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $600.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-5.40M USD 1 Quarter
Unrealized foreign exchange loss UnrealizedGainLossOnDerivativesAndCommodityContracts $-1.70M USD 1 Quarter
Unrealized foreign exchange loss UnrealizedGainLossOnDerivativesAndCommodityContracts $-2.00M USD 1 Quarter
Loss on impairment of long-lived assets, net AssetImpairmentCharges $74.80M USD 1 Quarter
Loss on impairment of long-lived assets, net AssetImpairmentCharges - USD 1 Quarter
Net loss in equity investees IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Net loss in equity investees IncomeLossFromEquityMethodInvestments $-900.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-1.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-1.50M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $34.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $37.40M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-8.30M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-5.10M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-4.60M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-10.40M USD 1 Quarter
Accounts payable and accrued expenses and other current liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-13.10M USD 1 Quarter
Accounts payable and accrued expenses and other current liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-80.20M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $300.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-2.40M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $2.10M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-65.60M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $19.90M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $35.30M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $700.00K USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $200.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-36.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-20.10M USD 1 Quarter
Proceeds from revolving credit facility borrowings ProceedsFromLinesOfCredit $16.70M USD 1 Quarter
Proceeds from revolving credit facility borrowings ProceedsFromLinesOfCredit $88.70M USD 1 Quarter
Principal payments on revolving credit facility borrowings RepaymentsOfLinesOfCredit $17.80M USD 1 Quarter
Principal payments on revolving credit facility borrowings RepaymentsOfLinesOfCredit $168.20M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $35.40M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $38.40M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt $1.20M USD 1 Quarter
Principal payments on long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Net proceeds from private placement of common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Net proceeds from private placement of common stock ProceedsFromIssuanceOfCommonStock $240.70M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $6.40M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $6.30M USD 1 Quarter
Shares withheld to satisfy employee tax obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $300.00K USD 1 Quarter
Shares withheld to satisfy employee tax obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $800.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-300.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $100.90M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $117.70M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $300.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $300.00K USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-400.00K USD 1 Quarter
Net change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $100.00M USD 1 Quarter
Cash and cash equivalents, beginning of the year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $38.30M USD Point-in-time
Cash and cash equivalents, beginning of the year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $146.10M USD Point-in-time
Cash and cash equivalents, beginning of the year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $38.70M USD Point-in-time
Cash and cash equivalents, beginning of the year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $46.10M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $38.30M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $146.10M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $38.70M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $46.10M USD Point-in-time
Interest paid, net of amounts capitalized InterestPaidNet $23.60M USD 1 Quarter
Interest paid, net of amounts capitalized InterestPaidNet $18.80M USD 1 Quarter
Income taxes paid, net of refunds IncomeTaxesPaidNet $12.80M USD 1 Quarter
Income taxes paid, net of refunds IncomeTaxesPaidNet $2.00M USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.15 USD 1 Quarter
Cash dividends per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.15 USD 1 Quarter
Beginning balance StockholdersEquity $517.20M USD Point-in-time
Beginning balance StockholdersEquity $509.80M USD Point-in-time
Beginning balance StockholdersEquity $256.40M USD Point-in-time
Beginning balance StockholdersEquity $459.80M USD Point-in-time
Beginning balance, treasury stock TreasuryStockCommonValue $9.30M USD Point-in-time
Beginning balance, treasury stock TreasuryStockCommonValue $8.70M USD Point-in-time
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $8.70M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $-62.10M USD 1 Quarter
Dividends on common stock DividendsCommonStockCash $6.30M USD 1 Quarter
Dividends on common stock DividendsCommonStockCash $6.40M USD 1 Quarter
Shares issued for stock units, net of shares withheld for taxes StockIssuedDuringPeriodValueNewIssues $-800.00K USD 1 Quarter
Shares issued for stock units, net of shares withheld for taxes StockIssuedDuringPeriodValueNewIssues $240.70M USD 1 Quarter
Shares issued for stock units, net of shares withheld for taxes StockIssuedDuringPeriodValueStockOptionsExercised $-300.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.90M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $10.60M USD 1 Quarter
Ending balance StockholdersEquity $517.20M USD Point-in-time
Ending balance StockholdersEquity $509.80M USD Point-in-time
Ending balance StockholdersEquity $256.40M USD Point-in-time
Ending balance StockholdersEquity $459.80M USD Point-in-time
Ending balance , treasury stock TreasuryStockCommonValue $9.30M USD Point-in-time
Ending balance , treasury stock TreasuryStockCommonValue $8.70M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net earnings (loss) NetIncomeLoss $-300.00K USD 1 Quarter
Unrealized gain from change in pension obligations, tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax $-100.00K USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-75.10M USD 1 Quarter
Unrealized gain from change in pension obligations, tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax - USD 1 Quarter
Unrealized gain (loss) on cash flow hedges, tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax - USD 1 Quarter
Unrealized gain (loss) on cash flow hedges, tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax $400.00K USD 1 Quarter
Unrealized gain from change in pension obligations, net of tax of $(0.1) and $0.0 for the three months ended December 31, 2023 and 2022, respectively OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $100.00K USD 1 Quarter
Unrealized gain from change in pension obligations, net of tax of $(0.1) and $0.0 for the three months ended December 31, 2023 and 2022, respectively OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $200.00K USD 1 Quarter
Unrealized loss on cash flow hedges, net of tax of $0.0 and $0.4 for the three months ended December 31, 2023 and 2022, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $-2.80M USD 1 Quarter
Unrealized loss on cash flow hedges, net of tax of $0.0 and $0.4 for the three months ended December 31, 2023 and 2022, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $-1.80M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $14.60M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $11.70M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $8.70M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $-62.10M USD 1 Quarter

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

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