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10-Q Filing

MONSTER BEVERAGE CORP CIK: 865752 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001104659-21-063189
Period End Date 20210331
Filing Date 20210507
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance mnst-20210331x10q_htm.xml
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.25B shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 1.25B shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 638.66M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $701.84M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $797.96M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 639.15M shares Point-in-time
Short-term investments ShortTermInvestments $980.11M USD Point-in-time
Short-term investments ShortTermInvestments $881.35M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 528.44M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 528.10M shares Point-in-time
Common stock in treasury, shares TreasuryStockShares 110.72M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $802.51M USD Point-in-time
Common stock in treasury, shares TreasuryStockShares 110.56M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $666.01M USD Point-in-time
Inventories InventoryNet $368.40M USD Point-in-time
Inventories InventoryNet $333.08M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $55.36M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $72.80M USD Point-in-time
Prepaid income taxes PrepaidTaxes $31.17M USD Point-in-time
Prepaid income taxes PrepaidTaxes $24.73M USD Point-in-time
Total current assets AssetsCurrent $3.14B USD Point-in-time
Total current assets AssetsCurrent $3.43B USD Point-in-time
INVESTMENTS LongTermInvestments $44.29M USD Point-in-time
INVESTMENTS LongTermInvestments $63.75M USD Point-in-time
PROPERTY AND EQUIPMENT, net PropertyPlantAndEquipmentNet $314.66M USD Point-in-time
PROPERTY AND EQUIPMENT, net PropertyPlantAndEquipmentNet $312.15M USD Point-in-time
DEFERRED INCOME TAXES DeferredIncomeTaxAssetsNet $241.65M USD Point-in-time
DEFERRED INCOME TAXES DeferredIncomeTaxAssetsNet $241.65M USD Point-in-time
GOODWILL Goodwill $1.33B USD Point-in-time
GOODWILL Goodwill $1.33B USD Point-in-time
GOODWILL Goodwill $1.33B USD Point-in-time
GOODWILL Goodwill $1.33B USD Point-in-time
OTHER INTANGIBLE ASSETS, net IntangibleAssetsNetExcludingGoodwill $1.06B USD Point-in-time
OTHER INTANGIBLE ASSETS, net IntangibleAssetsNetExcludingGoodwill $1.06B USD Point-in-time
OTHER ASSETS OtherAssetsNoncurrent $88.20M USD Point-in-time
OTHER ASSETS OtherAssetsNoncurrent $70.47M USD Point-in-time
Total Assets Assets $6.20B USD Point-in-time
Total Assets Assets $6.53B USD Point-in-time
Accounts payable AccountsPayableCurrent $334.08M USD Point-in-time
Accounts payable AccountsPayableCurrent $296.80M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $170.95M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $142.65M USD Point-in-time
Accrued promotional allowances AccruedPromotionalAllowancesLiabilitiesCurrent $186.66M USD Point-in-time
Accrued promotional allowances AccruedPromotionalAllowancesLiabilitiesCurrent $197.38M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $45.43M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $45.96M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $30.50M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $55.02M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $9.99M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $23.43M USD Point-in-time
Total current liabilities LiabilitiesCurrent $788.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $749.99M USD Point-in-time
DEFERRED REVENUE ContractWithCustomerLiabilityNoncurrent $257.73M USD Point-in-time
DEFERRED REVENUE ContractWithCustomerLiabilityNoncurrent $264.44M USD Point-in-time
OTHER LIABILITIES OtherLiabilitiesNoncurrent $27.43M USD Point-in-time
OTHER LIABILITIES OtherLiabilitiesNoncurrent $28.34M USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 12) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 12) CommitmentsAndContingencies - USD Point-in-time
Common stock - $0.005 par value; 1,250,000 shares authorized; 639,154 shares issued and 528,439 shares outstanding as of March 31, 2021; 638,662 shares issued and 528,097 shares outstanding as of December 31, 2020 CommonStockValueOutstanding $3.20M USD Point-in-time
Common stock - $0.005 par value; 1,250,000 shares authorized; 639,154 shares issued and 528,439 shares outstanding as of March 31, 2021; 638,662 shares issued and 528,097 shares outstanding as of December 31, 2020 CommonStockValueOutstanding $3.19M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.54B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.56B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.43B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.75B USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $62.68M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $3.03M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-24.87M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $32.39M USD Point-in-time
Common stock in treasury, at cost; 110,565 and 99,762 shares as of December 31, 2020 and December 31, 2019, respectively TreasuryStockValue $5.83B USD Point-in-time
Common stock in treasury, at cost; 110,565 and 99,762 shares as of December 31, 2020 and December 31, 2019, respectively TreasuryStockValue $5.82B USD Point-in-time
Total stockholders' equity StockholdersEquity $3.87B USD Point-in-time
Total stockholders' equity StockholdersEquity $5.16B USD Point-in-time
Total stockholders' equity StockholdersEquity $4.17B USD Point-in-time
Total stockholders' equity StockholdersEquity $5.46B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $6.20B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $6.53B USD Point-in-time
Income Statement 26 line items
Line Item Tag Value Unit Period
NET SALES RevenueFromContractWithCustomerExcludingAssessedTax $1.24B USD 1 Quarter
NET SALES RevenueFromContractWithCustomerExcludingAssessedTax $1.06B USD 1 Quarter
COST OF SALES CostOfGoodsAndServicesSold $528.88M USD 1 Quarter
COST OF SALES CostOfGoodsAndServicesSold $424.90M USD 1 Quarter
GROSS PROFIT GrossProfit $637.20M USD 1 Quarter
GROSS PROFIT GrossProfit $714.93M USD 1 Quarter
OPERATING EXPENSES OperatingExpenses $272.21M USD 1 Quarter
OPERATING EXPENSES OperatingExpenses $300.79M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $414.15M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $364.99M USD 1 Quarter
INTEREST and OTHER (EXPENSE) INCOME, net InterestIncomeExpenseNonoperatingNet $872.00K USD 1 Quarter
INTEREST and OTHER (EXPENSE) INCOME, net InterestIncomeExpenseNonoperatingNet $-759.00K USD 1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $365.86M USD 1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $413.39M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $87.03M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $98.19M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $315.19M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $278.83M USD 1 Quarter
Basic IncomeLossFromContinuingOperationsPerBasicShare $0.60 USD 1 Quarter
Basic IncomeLossFromContinuingOperationsPerBasicShare $0.52 USD 1 Quarter
Diluted IncomeLossFromContinuingOperationsPerDilutedShare $0.59 USD 1 Quarter
Diluted IncomeLossFromContinuingOperationsPerDilutedShare $0.52 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 536.06M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 528.20M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 540.52M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 534.98M shares 1 Quarter
Cash Flow Statement 78 line items
Line Item Tag Value Unit Period
Accrued liabilities for intangible assets NetChangeInAccruedLiabilitiesIncurredButNotYetPaid $7.80M USD 1 Quarter
Accrued liabilities for intangible assets NetChangeInAccruedLiabilitiesIncurredButNotYetPaid $12.90M USD 1 Quarter
Net income ProfitLoss $315.19M USD 1 Quarter
Accounts payable for repurchase of treasury shares AccountsPayableForTreasuryStockRepurchases $20.70M USD 1 Quarter
Net income ProfitLoss $278.83M USD 1 Quarter
Accounts payable on short-term investments ShortTermInvestmentsPurchasedButNotYetPaid $4.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $13.78M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $16.55M USD 1 Quarter
Gain on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $88.00K USD 1 Quarter
Gain on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $58.00K USD 1 Quarter
Impairment of intangibles ImpairmentOfIntangibleAssetsExcludingGoodwill $3.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $17.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $18.36M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $147.54M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $147.66M USD 1 Quarter
Distributor receivables IncreaseDecreaseInDistributorReceivables $-92.00K USD 1 Quarter
Distributor receivables IncreaseDecreaseInDistributorReceivables $-176.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $39.55M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-1.04M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $18.08M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $18.49M USD 1 Quarter
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $7.08M USD 1 Quarter
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $-8.08M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $19.33M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $36.86M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $32.44M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $34.50M USD 1 Quarter
Accrued promotional allowances IncreaseDecreaseInAccruedPromotionalAllowancesLiabilitiesCurrent $9.44M USD 1 Quarter
Accrued promotional allowances IncreaseDecreaseInAccruedPromotionalAllowancesLiabilitiesCurrent $13.96M USD 1 Quarter
Accrued distributor terminations IncreaseDecreaseInAccruedDistributorTerminations $-282.00K USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-24.81M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-24.44M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-13.29M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-1.55M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $504.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-192.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInCustomerLiability $-5.25M USD 1 Quarter
Deferred revenue IncreaseDecreaseInCustomerLiability $-4.27M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $191.13M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $175.47M USD 1 Quarter
Sales of available-for-sale investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $325.75M USD 1 Quarter
Sales of available-for-sale investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $513.53M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $217.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $231.00K USD 1 Quarter
Purchases of available-for-sale investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $214.70M USD 1 Quarter
Purchases of available-for-sale investments PaymentsToAcquireAvailableForSaleSecuritiesDebt $440.57M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $8.40M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.12M USD 1 Quarter
Additions to intangibles PaymentsToAcquireIntangibleAssets $7.24M USD 1 Quarter
Additions to intangibles PaymentsToAcquireIntangibleAssets $6.81M USD 1 Quarter
Increase in other assets PaymentsForProceedsFromOtherInvestingActivities $1.15M USD 1 Quarter
Increase in other assets PaymentsForProceedsFromOtherInvestingActivities $18.86M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $279.98M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-149.08M USD 1 Quarter
Borrowings of (payments on) debt ProceedsFromRepaymentsOfShortTermDebt $957.00K USD 1 Quarter
Borrowings of (payments on) debt ProceedsFromRepaymentsOfShortTermDebt $-733.00K USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $13.97M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $6.76M USD 1 Quarter
Purchases of common stock held in treasury PaymentsForRepurchaseOfCommonStock $13.42M USD 1 Quarter
Purchases of common stock held in treasury PaymentsForRepurchaseOfCommonStock $559.21M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-545.97M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-5.70M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-22.22M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations $-21.26M USD 1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.53M USD 1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-96.12M USD 1 Quarter
CASH AND CASH EQUIVALENTS, beginning of year CashAndCashEquivalentsAtCarryingValue $701.84M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year CashAndCashEquivalentsAtCarryingValue $797.96M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
CASH AND CASH EQUIVALENTS, end of year CashAndCashEquivalentsAtCarryingValue $701.84M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of year CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
CASH AND CASH EQUIVALENTS, end of year CashAndCashEquivalentsAtCarryingValue $797.96M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of year CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
Interest InterestPaidNet $13.00K USD 1 Quarter
Interest InterestPaidNet $11.00K USD 1 Quarter
Income taxes IncomeTaxesPaid $79.99M USD 1 Quarter
Income taxes IncomeTaxesPaid $121.87M USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $3.87B USD Point-in-time
Balance StockholdersEquity $5.16B USD Point-in-time
Balance StockholdersEquity $4.17B USD Point-in-time
Balance StockholdersEquity $5.46B USD Point-in-time
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $17.95M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $17.10M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $13.97M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $6.76M USD 1 Quarter
Exercise of stock options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 157,000.00 shares 1 Quarter
Unrealized gain, net on available-for-sale securities EquitySecuritiesFvNiUnrealizedGain $24.00K USD 1 Quarter
Unrealized gain, net on available-for-sale securities EquitySecuritiesFvNiUnrealizedGain $304.00K USD 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $13.42M USD 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $579.95M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-27.93M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-30.60M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $315.19M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $278.83M USD 1 Quarter
Balance StockholdersEquity $3.87B USD Point-in-time
Balance StockholdersEquity $5.16B USD Point-in-time
Balance StockholdersEquity $4.17B USD Point-in-time
Balance StockholdersEquity $5.46B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income, as reported NetIncomeLossAvailableToCommonStockholdersBasic $315.19M USD 1 Quarter
Net income, as reported NetIncomeLossAvailableToCommonStockholdersBasic $278.83M USD 1 Quarter
Change in foreign currency translation adjustment, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-30.60M USD 1 Quarter
Change in foreign currency translation adjustment, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-27.93M USD 1 Quarter
Change in net unrealized gains (losses) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $24.00K USD 1 Quarter
Change in net unrealized gains (losses) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $304.00K USD 1 Quarter
Net change in available-for-sale investments OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $24.00K USD 1 Quarter
Net change in available-for-sale investments OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent $304.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-27.91M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-30.30M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $248.54M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $287.29M USD 1 Quarter

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

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