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10-Q Filing

MARKEL GROUP INC. CIK: 1096343 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001096343-19-000124
Period End Date 20190331
Filing Date 20190430
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance mkl-20190331.xml
Filing Contents
Balance Sheet 69 line items
Line Item Tag Value Unit Period
Fixed maturities, available-for-sale amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $9.85B USD Point-in-time
Fixed maturities, available-for-sale amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $9.95B USD Point-in-time
Fixed maturities, available-for-sale (amortized cost of $9,852,710 in 2019 and $9,950,773 in 2018) AvailableForSaleSecuritiesDebtSecurities $10.04B USD Point-in-time
Fixed maturities, available-for-sale (amortized cost of $9,852,710 in 2019 and $9,950,773 in 2018) AvailableForSaleSecuritiesDebtSecurities $10.16B USD Point-in-time
Equity securities, cost EquitySecuritiesFvNiCost $2.97B USD Point-in-time
Equity securities, cost EquitySecuritiesFvNiCost $3.02B USD Point-in-time
Senior long-term debt and other debt, estimated fair value DebtInstrumentFairValue $3.11B USD Point-in-time
Equity securities (cost of $3,021,179 in 2019 and $2,971,856 in 2018) EquitySecuritiesFvNi $5.72B USD Point-in-time
Equity securities (cost of $3,021,179 in 2019 and $2,971,856 in 2018) EquitySecuritiesFvNi $6.38B USD Point-in-time
Senior long-term debt and other debt, estimated fair value DebtInstrumentFairValue $3.03B USD Point-in-time
Short-term investments, available-for-sale (estimated fair value approximates cost) OtherShortTermInvestments $754.29M USD Point-in-time
Short-term investments, available-for-sale (estimated fair value approximates cost) OtherShortTermInvestments $1.08B USD Point-in-time
Total Investments Investments $16.84B USD Point-in-time
Total Investments Investments $17.30B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.01B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.42B USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $348.98M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $382.26M USD Point-in-time
Receivables PremiumsAndOtherReceivablesNet $1.69B USD Point-in-time
Receivables PremiumsAndOtherReceivablesNet $1.96B USD Point-in-time
Reinsurance Recoverables ReinsuranceRecoverablesOnPaidAndUnpaidLosses $5.22B USD Point-in-time
Reinsurance Recoverables ReinsuranceRecoverablesOnPaidAndUnpaidLosses $5.29B USD Point-in-time
Deferred policy acquisition costs DeferredPolicyAcquisitionCosts $474.51M USD Point-in-time
Deferred policy acquisition costs DeferredPolicyAcquisitionCosts $541.01M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $1.33B USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $1.33B USD Point-in-time
Goodwill Goodwill $2.22B USD Point-in-time
Goodwill Goodwill $2.24B USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $1.73B USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $1.71B USD Point-in-time
Other assets OtherAssets $1.62B USD Point-in-time
Other assets OtherAssets $1.38B USD Point-in-time
Total Assets Assets $34.74B USD Point-in-time
Total Assets Assets $33.31B USD Point-in-time
Unpaid losses and loss adjustment expenses LiabilityForClaimsAndClaimsAdjustmentExpense $13.64B USD Point-in-time
Unpaid losses and loss adjustment expenses LiabilityForClaimsAndClaimsAdjustmentExpense $14.28B USD Point-in-time
Unpaid losses and loss adjustment expenses LiabilityForClaimsAndClaimsAdjustmentExpense $14.33B USD Point-in-time
Life and annuity benefits LiabilityForFuturePolicyBenefits $1.00B USD Point-in-time
Life and annuity benefits LiabilityForFuturePolicyBenefits $1.01B USD Point-in-time
Unearned premiums UnearnedPremiums $3.89B USD Point-in-time
Unearned premiums UnearnedPremiums $3.61B USD Point-in-time
Payables to insurance and reinsurance companies ReinsurancePayable $337.33M USD Point-in-time
Payables to insurance and reinsurance companies ReinsurancePayable $368.39M USD Point-in-time
Senior long-term debt and other debt (estimated fair value of $3,113,000 in 2019 and $3,030,000 in 2018) DebtAndCapitalLeaseObligations $3.06B USD Point-in-time
Senior long-term debt and other debt (estimated fair value of $3,113,000 in 2019 and $3,030,000 in 2018) DebtAndCapitalLeaseObligations $3.01B USD Point-in-time
Other liabilities OtherLiabilities $1.80B USD Point-in-time
Other liabilities OtherLiabilities $2.11B USD Point-in-time
Total Liabilities Liabilities $24.03B USD Point-in-time
Total Liabilities Liabilities $24.77B USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $148.00M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $174.06M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $3.40B USD Point-in-time
Common stock CommonStockValue $3.39B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.34B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.78B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $12.80M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $61.17M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-94.65M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.35B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $9.08B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $9.80B USD Point-in-time
Noncontrolling interests MinorityInterest $22.36M USD Point-in-time
Noncontrolling interests MinorityInterest $19.65M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.82B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.10B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $34.74B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $33.31B USD Point-in-time
Income Statement 66 line items
Line Item Tag Value Unit Period
Earned premiums PremiumsEarnedNet $1.15B USD 1 Quarter
Earned premiums PremiumsEarnedNet $1.20B USD 1 Quarter
Net investment income NetInvestmentIncome $114.18M USD 1 Quarter
Net investment income NetInvestmentIncome $108.02M USD 1 Quarter
Net realized investment gains (losses) MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments $681.00K USD 1 Quarter
Net realized investment gains (losses) MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments $-946.00K USD 1 Quarter
Change in fair value of equity securities EquitySecuritiesFvNiGainLoss $611.51M USD 1 Quarter
Change in fair value of equity securities EquitySecuritiesFvNiGainLoss $-122.05M USD 1 Quarter
Net investment gains (losses) NetInvestmentGainsLosses $-123.00M USD 1 Quarter
Net investment gains (losses) NetInvestmentGainsLosses $612.19M USD 1 Quarter
Products Revenues ProductsRevenues $294.14M USD 1 Quarter
Products Revenues ProductsRevenues $348.79M USD 1 Quarter
Services and other revenues Servicesandotherrevenues $145.30M USD 1 Quarter
Services and other revenues Servicesandotherrevenues $193.34M USD 1 Quarter
Total Operating Revenues Revenues $2.47B USD 1 Quarter
Total Operating Revenues Revenues $1.58B USD 1 Quarter
Losses and loss adjustment expenses IncurredClaimsPropertyCasualtyAndLiability $687.75M USD 1 Quarter
Losses and loss adjustment expenses IncurredClaimsPropertyCasualtyAndLiability $615.12M USD 1 Quarter
Underwriting, acquisition and insurance expenses UnderwritingAcquisitionAndInsuranceExpenses $424.39M USD 1 Quarter
Underwriting, acquisition and insurance expenses UnderwritingAcquisitionAndInsuranceExpenses $455.21M USD 1 Quarter
Products expenses Productsexpenses $269.70M USD 1 Quarter
Products expenses Productsexpenses $319.43M USD 1 Quarter
Services and other expenses Servicesandotherexpenses $132.43M USD 1 Quarter
Services and other expenses Servicesandotherexpenses $174.61M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $28.82M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $40.67M USD 1 Quarter
Total Operating Expenses CostsAndExpenses $1.68B USD 1 Quarter
Total Operating Expenses CostsAndExpenses $1.47B USD 1 Quarter
Operating Income OperatingIncomeLoss $794.83M USD 1 Quarter
Operating Income OperatingIncomeLoss $105.01M USD 1 Quarter
Interest expense InterestExpense $40.29M USD 1 Quarter
Interest expense InterestExpense $40.06M USD 1 Quarter
Net foreign exchange losses ForeignCurrencyTransactionGainLossRealized $-21.86M USD 1 Quarter
Net foreign exchange losses ForeignCurrencyTransactionGainLossRealized $-22.11M USD 1 Quarter
Income (Loss) Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $732.68M USD 1 Quarter
Income (Loss) Before Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $42.84M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $155.16M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $108.43M USD 1 Quarter
Net Income (Loss) ProfitLoss $-65.59M USD 1 Quarter
Net Income (Loss) ProfitLoss $577.51M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-1.29M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.09M USD 1 Quarter
Net Income (Loss) to Shareholders NetIncomeLoss $-64.31M USD 1 Quarter
Net Income (Loss) to Shareholders NetIncomeLoss $576.43M USD 1 Quarter
Net holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-116.92M USD 1 Quarter
Net holding gains (losses) arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $152.33M USD 1 Quarter
Reclassification adjustments for net gains (losses) included in net income (loss) ReclassificationAdjustmentsForNetGainsLossesIncludedInNetIncomeLoss $-814.00K USD 1 Quarter
Reclassification adjustments for net gains (losses) included in net income (loss) ReclassificationAdjustmentsForNetGainsLossesIncludedInNetIncomeLoss $246.00K USD 1 Quarter
Change in net unrealized gains on available-for-sale investments, net of taxes OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $152.09M USD 1 Quarter
Change in net unrealized gains on available-for-sale investments, net of taxes OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-116.11M USD 1 Quarter
Change in foreign currency translation adjustments, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.38M USD 1 Quarter
Change in foreign currency translation adjustments, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.95M USD 1 Quarter
Change in net actuarial pension loss, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.36M USD 1 Quarter
Change in net actuarial pension loss, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-664.00K USD 1 Quarter
Total Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $155.82M USD 1 Quarter
Total Other Comprehensive Income (Loss) OtherComprehensiveIncomeLossNetOfTax $-110.49M USD 1 Quarter
Comprehensive Income (Loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $733.34M USD 1 Quarter
Comprehensive Income (Loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-176.09M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-1.25M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.09M USD 1 Quarter
Comprehensive Income (Loss) to Shareholders ComprehensiveIncomeNetOfTax $-174.84M USD 1 Quarter
Comprehensive Income (Loss) to Shareholders ComprehensiveIncomeNetOfTax $732.25M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $42.81 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-4.25 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-4.25 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $42.76 USD 1 Quarter
Cash Flow Statement 50 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-65.59M USD 1 Quarter
Net income (loss) ProfitLoss $577.51M USD 1 Quarter
Adjustments to reconcile net income (loss) to net cash provided by operating activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-558.79M USD 1 Quarter
Adjustments to reconcile net income (loss) to net cash provided by operating activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $123.27M USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $57.67M USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $18.72M USD 1 Quarter
Proceeds from sales of fixed maturities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $133.45M USD 1 Quarter
Proceeds from sales of fixed maturities and equity securities ProceedsFromSaleMaturityAndCollectionsOfInvestments $140.73M USD 1 Quarter
Proceeds from maturities, calls and prepayments of fixed maturities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $191.26M USD 1 Quarter
Proceeds from maturities, calls and prepayments of fixed maturities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $128.45M USD 1 Quarter
Cost of fixed maturities and equity securities purchased PaymentsToAcquireInvestments $227.56M USD 1 Quarter
Cost of fixed maturities and equity securities purchased PaymentsToAcquireInvestments $497.38M USD 1 Quarter
Net change in short-term investments PaymentsForProceedsFromShortTermInvestments $-129.03M USD 1 Quarter
Net change in short-term investments PaymentsForProceedsFromShortTermInvestments $-329.66M USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $24.76M USD 1 Quarter
Additions to property and equipment PaymentsToAcquirePropertyPlantAndEquipment $23.36M USD 1 Quarter
Proceeds from disposals of fixed assets ProceedsFromSaleOfProductiveAssets $100.00K USD 1 Quarter
Proceeds from disposals of fixed assets ProceedsFromSaleOfProductiveAssets $13.96M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $7.81M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $9.40M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $1.68M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $816.00K USD 1 Quarter
Net Cash Provided (Used) By Investing Activities NetCashProvidedByUsedInInvestingActivities $342.12M USD 1 Quarter
Net Cash Provided (Used) By Investing Activities NetCashProvidedByUsedInInvestingActivities $-68.24M USD 1 Quarter
Additions to senior long-term debt and other debt ProceedsFromIssuanceOfDebt $87.36M USD 1 Quarter
Additions to senior long-term debt and other debt ProceedsFromIssuanceOfDebt $52.71M USD 1 Quarter
Repayment of senior long-term debt and other debt RepaymentsOfDebtAndCapitalLeaseObligations $102.31M USD 1 Quarter
Repayment of senior long-term debt and other debt RepaymentsOfDebtAndCapitalLeaseObligations $36.10M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $37.65M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $12.29M USD 1 Quarter
Purchase of noncontrolling interests PaymentsToAcquireAdditionalInterestInSubsidiaries $6.86M USD 1 Quarter
Purchase of noncontrolling interests PaymentsToAcquireAdditionalInterestInSubsidiaries $9.75M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $2.81M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $4.71M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.11M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.24M USD 1 Quarter
Net Cash Used By Financing Activities NetCashProvidedByUsedInFinancingActivities $-74.70M USD 1 Quarter
Net Cash Used By Financing Activities NetCashProvidedByUsedInFinancingActivities $-69.00K USD 1 Quarter
Effect of foreign currency rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.07M USD 1 Quarter
Effect of foreign currency rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.20M USD 1 Quarter
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-59.19M USD 1 Quarter
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $367.97M USD 1 Quarter
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.40B USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.76B USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.50B USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.44B USD Point-in-time
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.40B USD Point-in-time
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.76B USD Point-in-time
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.50B USD Point-in-time
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.44B USD Point-in-time
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.82B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.10B USD Point-in-time
Balance, redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $148.00M USD Point-in-time
Balance, redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $174.06M USD Point-in-time
Net income (loss) ProfitLoss $-65.59M USD 1 Quarter
Net income (loss) ProfitLoss $577.51M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $155.82M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-110.49M USD 1 Quarter
Comprehensive Income (Loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $733.34M USD 1 Quarter
Comprehensive Income (Loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-176.09M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.82B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.10B USD Point-in-time
Balance, redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $148.00M USD Point-in-time
Balance, redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCommonCarryingAmount $174.06M USD Point-in-time

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

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