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10-Q Filing

UPBOUND GROUP, INC. CIK: 933036 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000933036-22-000105
Period End Date 20220331
Filing Date 20220506
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance rcii-20220331_htm.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $95.68M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $108.33M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $8,826 and $8,479 in 2022 and 2021, respectively AccountsReceivableNet $126.38M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $8,826 and $8,479 in 2022 and 2021, respectively AccountsReceivableNet $121.19M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $8.83M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $8.48M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $63.47M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $47.46M USD Point-in-time
On rent RentalMerchandiseOnRentNet $1.02B USD Point-in-time
On rent RentalMerchandiseOnRentNet $1.17B USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $127.66M USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $132.98M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $5.41M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $6.41M USD Point-in-time
Property assets, net of accumulated depreciation of $573,669 and $557,453 in 2022 and 2021, respectively PropertyPlantAndEquipmentNet $301.91M USD Point-in-time
Property assets, net of accumulated depreciation of $573,669 and $557,453 in 2022 and 2021, respectively PropertyPlantAndEquipmentNet $308.10M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $557.45M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $573.67M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $291.34M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $299.11M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $68.39M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $68.63M USD Point-in-time
Goodwill Goodwill $289.75M USD Point-in-time
Goodwill Goodwill $289.76M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $402.83M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $425.16M USD Point-in-time
Assets Assets $2.78B USD Point-in-time
Assets Assets $2.99B USD Point-in-time
Accounts payable trade AccountsPayableCurrentAndNoncurrent $135.67M USD Point-in-time
Accounts payable trade AccountsPayableCurrentAndNoncurrent $130.72M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $362.71M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $323.86M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $301.05M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $296.54M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome $97.87M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome $113.94M USD Point-in-time
Senior debt, net SecuredDebtNet $964.11M USD Point-in-time
Senior debt, net SecuredDebtNet $1.14B USD Point-in-time
Senior notes, net SeniorNotesNet $435.99M USD Point-in-time
Senior notes, net SeniorNotesNet $436.46M USD Point-in-time
Total liabilities Liabilities $2.25B USD Point-in-time
Total liabilities Liabilities $2.48B USD Point-in-time
Common stock, $0.01 par value; 250,000,000 shares authorized; 124,844,162 and 124,398,373 shares issued in March 31, 2022 and December 31, 2021, respectively CommonStockValue $1.06M USD Point-in-time
Common stock, $0.01 par value; 250,000,000 shares authorized; 124,844,162 and 124,398,373 shares issued in March 31, 2022 and December 31, 2021, respectively CommonStockValue $1.07M 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 - shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock - shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock - shares issued CommonStockSharesIssued 124.40M shares Point-in-time
Common stock - shares issued CommonStockSharesIssued 124.84M shares Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.15B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.18B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.12B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.14B USD Point-in-time
Treasury stock at cost, 65,790,667 shares in March 31, 2022 and December 31, 2021 TreasuryStockValue $1.77B USD Point-in-time
Treasury stock at cost, 65,790,667 shares in March 31, 2022 and December 31, 2021 TreasuryStockValue $1.77B USD Point-in-time
Treasury stock - shares at cost TreasuryStockShares 65.79M shares Point-in-time
Treasury stock - shares at cost TreasuryStockShares 65.79M shares Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-12.37M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-11.71M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $513.28M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $523.06M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $2.78B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $2.99B USD Point-in-time
Income Statement 63 line items
Line Item Tag Value Unit Period
Rentals and fees RentalsAndFees $883.05M USD 1 Quarter
Rentals and fees RentalsAndFees $745.53M USD 1 Quarter
Merchandise sales MerchandiseSales $232.79M USD 1 Quarter
Merchandise sales MerchandiseSales $232.88M USD 1 Quarter
Installment sales InstallmentSales $17.09M USD 1 Quarter
Installment sales InstallmentSales $17.77M USD 1 Quarter
Other OtherStoreRevenue $1.29M USD 1 Quarter
Other OtherStoreRevenue $918.00K USD 1 Quarter
Total store revenues Storerevenues $1.13B USD 1 Quarter
Total store revenues Storerevenues $997.02M USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $18.52M USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $33.05M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $6.71M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $6.89M USD 1 Quarter
Total revenues Revenues $1.04B USD 1 Quarter
Total revenues Revenues $1.16B USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $247.03M USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $338.63M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $240.11M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $250.33M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $6.04M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $5.92M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $493.18M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $594.88M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $33.08M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $18.74M USD 1 Quarter
Total cost of revenues CostOfRevenue $613.63M USD 1 Quarter
Total cost of revenues CostOfRevenue $526.26M USD 1 Quarter
Gross profit GrossProfit $546.10M USD 1 Quarter
Gross profit GrossProfit $510.52M USD 1 Quarter
Labor LaborAndRelatedExpense $156.71M USD 1 Quarter
Labor LaborAndRelatedExpense $166.60M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $170.13M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $227.37M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $49.12M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $56.40M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $13.39M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $14.53M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $70.15M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $51.12M USD 1 Quarter
Total operating expenses OperatingExpenses $535.05M USD 1 Quarter
Total operating expenses OperatingExpenses $440.48M USD 1 Quarter
Operating profit OperatingIncomeLoss $11.04M USD 1 Quarter
Operating profit OperatingIncomeLoss $70.05M USD 1 Quarter
Debt refinancing charges FinanceChargesFromRefinancing $1.40M USD Point-in-time
Debt refinancing charges FinanceChargesFromRefinancing $8.74M USD 1 Quarter
Debt refinancing charges FinanceChargesFromRefinancing - USD 1 Quarter
Interest expense InterestExpense $11.99M USD 1 Quarter
Interest expense InterestExpense $18.97M USD 1 Quarter
Interest income InvestmentIncomeInterest $45.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $74.00K USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-7.88M USD 1 Quarter
(Loss) earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $49.39M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $-3.65M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $6.83M USD 1 Quarter
Net (loss) earnings NetIncomeLoss $-4.24M USD 1 Quarter
Net (loss) earnings NetIncomeLoss $42.55M USD 1 Quarter
Basic (loss) earnings per common share EarningsPerShareBasic $-0.08 USD 1 Quarter
Basic (loss) earnings per common share EarningsPerShareBasic $0.76 USD 1 Quarter
Diluted (loss) earnings per common share EarningsPerShareDiluted $0.64 USD 1 Quarter
Diluted (loss) earnings per common share EarningsPerShareDiluted $-0.08 USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared $0.31 USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared $0.34 USD 1 Quarter
Cash Flow Statement 69 line items
Line Item Tag Value Unit Period
Net (loss) earnings NetIncomeLoss $-4.24M USD 1 Quarter
Net (loss) earnings NetIncomeLoss $42.55M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $327.44M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $237.64M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $3.45M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $4.97M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $20.15M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $41.41M USD 1 Quarter
Depreciation of property assets Depreciation $18.25M USD 1 Quarter
Depreciation of property assets Depreciation $14.46M USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-165.00K USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-4.34M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $22.37M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $14.19M USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $1.12M USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $1.56M USD 1 Quarter
Write-off of debt financing fees OtherAmortizationOfDeferredCharges - USD 1 Quarter
Write-off of debt financing fees OtherAmortizationOfDeferredCharges $4.55M USD 1 Quarter
Write-off of debt financing fees OtherAmortizationOfDeferredCharges $5.40M USD Point-in-time
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $3.85M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-16.61M USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $165.30M USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $222.05M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-220.00K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-1.67M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-16.00M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-9.93M USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $3.26M USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $171.00K USD 1 Quarter
Accounts payable trade IncreaseDecreaseInAccountsPayableTrade $-4.95M USD 1 Quarter
Accounts payable trade IncreaseDecreaseInAccountsPayableTrade $-22.15M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-36.91M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $26.45M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $205.29M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $135.79M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $11.39M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $16.40M USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment $6.00K USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $1.27B USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $324.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-16.72M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.28B USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $477.00K USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $8.94M USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $20.90M USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $8.47M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $46.09M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfSecuredDebt $1.49B USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfSecuredDebt - USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $307.50M USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $172.19M USD 1 Quarter
Dividends paid PaymentsOfDividends $21.11M USD 1 Quarter
Dividends paid PaymentsOfDividends $17.12M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-201.28M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.11B USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $64.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-272.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-12.65M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-36.43M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $95.68M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $108.33M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $95.68M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $108.33M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $592.08M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $513.28M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $742.19M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $523.06M USD Point-in-time
Net (loss) earnings NetIncomeLoss $-4.24M USD 1 Quarter
Net (loss) earnings NetIncomeLoss $42.55M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-853.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $661.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $8.94M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $477.00K USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-20.90M USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Tax effect of stock awards vested and options exercised AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-8.47M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $41.41M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $20.15M USD 1 Quarter
Dividends declared DividendsCommonStockCash $20.06M USD 1 Quarter
Dividends declared DividendsCommonStockCash $20.72M USD 1 Quarter
Acima Acquisition StockIssuedDuringPeriodValueAcquisitions $120.94M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net (loss) earnings NetIncomeLoss $-4.24M USD 1 Quarter
Net (loss) earnings NetIncomeLoss $42.55M USD 1 Quarter
Foreign currency translation adjustments, net of tax of $176 and $(227) for the three months ended March 31, 2022 and 2021, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $661.00K USD 1 Quarter
Foreign currency translation adjustments, net of tax of $176 and $(227) for the three months ended March 31, 2022 and 2021, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-853.00K USD 1 Quarter
Foreign currency translation adjustments, net of tax of $176 and $(227) for the three months ended March 31, 2022 and 2021, respectively OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-227.00K USD 1 Quarter
Foreign currency translation adjustments, net of tax of $176 and $(227) for the three months ended March 31, 2022 and 2021, respectively OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $176.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-853.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $661.00K USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $41.70M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $-3.58M USD 1 Quarter

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

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