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10-Q Filing

Ameresco, Inc. CIK: 1488139 Q1 2012
Filing Information
Form Type 10-Q
Accession Number 0001488139-12-000013
Period End Date 20120331
Filing Date 20120510
Fiscal Year 2012
Fiscal Period Q1
XBRL Instance amrc-20120331.xml
Balance Sheet 93 line items
Line Item Tag Value Unit Period
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $44.69M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $26.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.35M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $12.59M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $12.37M USD Point-in-time
Accounts receivable, net AccountsReceivableNet $109.30M USD Point-in-time
Accounts receivable, net AccountsReceivableNet $84.95M USD Point-in-time
Accounts receivable retainage ContractReceivableRetainage $20.54M USD Point-in-time
Accounts receivable retainage ContractReceivableRetainage $26.09M USD Point-in-time
Costs and estimated earnings in excess of billings CostsInExcessOfBillingsOnUncompletedContractsOrPrograms $69.25M USD Point-in-time
Costs and estimated earnings in excess of billings CostsInExcessOfBillingsOnUncompletedContractsOrPrograms $51.52M USD Point-in-time
Inventory, net InventoryNet $8.64M USD Point-in-time
Inventory, net InventoryNet $8.78M USD Point-in-time
Treasury stock at cost TreasuryStockShares 4.83M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $8.99M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseCurrent $6.18M USD Point-in-time
Treasury stock at cost TreasuryStockShares 4.83M shares Point-in-time
Income tax receivable IncomeTaxReceivable $10.29M USD Point-in-time
Income tax receivable IncomeTaxReceivable $9.66M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $6.46M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $6.46M USD Point-in-time
Project development costs ConstructionInProgressGross $6.03M USD Point-in-time
Project development costs ConstructionInProgressGross $6.86M USD Point-in-time
Total current assets AssetsCurrent $283.06M USD Point-in-time
Total current assets AssetsCurrent $246.60M USD Point-in-time
Federal ESPC receivable AccountsReceivableNetNoncurrent $124.28M USD Point-in-time
Federal ESPC receivable AccountsReceivableNetNoncurrent $110.21M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $7.09M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $7.70M USD Point-in-time
Project assets, net PropertyPlantAndEquipmentOtherNet $177.85M USD Point-in-time
Project assets, net PropertyPlantAndEquipmentOtherNet $181.53M USD Point-in-time
Deferred financing fees, net DeferredFinanceCostsNoncurrentNet $2.99M USD Point-in-time
Deferred financing fees, net DeferredFinanceCostsNoncurrentNet $2.88M USD Point-in-time
Goodwill Goodwill $47.92M USD Point-in-time
Goodwill Goodwill $47.88M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $12.73M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $11.07M USD Point-in-time
Other assets OtherAssetsNoncurrent $3.99M USD Point-in-time
Other assets OtherAssetsNoncurrent $3.78M USD Point-in-time
Total Non Current Assets AssetsNoncurrent $362.54M USD Point-in-time
Total Non Current Assets AssetsNoncurrent $379.37M USD Point-in-time
Total Assets Assets $625.98M USD Point-in-time
Total Assets Assets $645.60M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $12.37M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $11.56M USD Point-in-time
Accounts payable AccountsPayableCurrent $93.51M USD Point-in-time
Accounts payable AccountsPayableCurrent $71.42M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $8.92M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $10.76M USD Point-in-time
Book overdraft BookOverdrafts $7.30M USD Point-in-time
Book overdraft BookOverdrafts - USD Point-in-time
Billings in excess of cost and estimated earnings BillingsInExcessOfCostCurrent $27.95M USD Point-in-time
Billings in excess of cost and estimated earnings BillingsInExcessOfCostCurrent $26.98M USD Point-in-time
Total current liabilities LiabilitiesCurrent $122.49M USD Point-in-time
Total current liabilities LiabilitiesCurrent $148.27M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $196.40M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $197.28M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $29.40M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $29.95M USD Point-in-time
Deferred grant income OtherDeferredCreditsNoncurrent $6.02M USD Point-in-time
Deferred grant income OtherDeferredCreditsNoncurrent $5.94M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $28.14M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $28.53M USD Point-in-time
Total Liabilities Liabilities $260.91M USD Point-in-time
Total Liabilities Liabilities $260.76M USD Point-in-time
Commitments and Contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2011 and March 31, 2012 PreferredStockValueOutstanding - USD Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2011 and March 31, 2012 PreferredStockValueOutstanding - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $86.07M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $89.12M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $161.34M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $162.84M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.87M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-129.42K USD Point-in-time
Minority interest MinorityInterest $71.31K USD Point-in-time
Minority interest MinorityInterest $63.61K USD Point-in-time
Less - treasury stock, at cost, 4,833,284 shares, respectively TreasuryStockValue $-9.18M USD Point-in-time
Less - treasury stock, at cost, 4,833,284 shares, respectively TreasuryStockValue $-9.18M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $242.72M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $236.42M USD Point-in-time
Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $645.60M USD Point-in-time
Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $625.98M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Energy efficiency revenue SalesRevenueEnergyServices $106.19M USD 1 Quarter
Energy efficiency revenue SalesRevenueEnergyServices $113.38M USD 1 Quarter
Renewable energy revenue RenewableEnergyRevenue $33.19M USD 1 Quarter
Renewable energy revenue RenewableEnergyRevenue $40.23M USD 1 Quarter
Total Revenue SalesRevenueNet $146.42M USD 1 Quarter
Total Revenue SalesRevenueNet $146.57M USD 1 Quarter
Energy efficiency expenses CostOfServicesEnergyServices $86.36M USD 1 Quarter
Energy efficiency expenses CostOfServicesEnergyServices $89.62M USD 1 Quarter
Renewable energy expenses RenewableEnergyExpenses $32.08M USD 1 Quarter
Renewable energy expenses RenewableEnergyExpenses $27.73M USD 1 Quarter
Total Direct Expenses CostOfGoodsAndServicesSold $117.35M USD 1 Quarter
Total Direct Expenses CostOfGoodsAndServicesSold $118.44M USD 1 Quarter
Gross profit GrossProfit $27.98M USD 1 Quarter
Gross profit GrossProfit $29.22M USD 1 Quarter
Salaries and benefits SalariesAndWages $14.37M USD 1 Quarter
Salaries and benefits SalariesAndWages $10.08M USD 1 Quarter
Project development costs ConstructionAndDevelopmentCosts $4.22M USD 1 Quarter
Project development costs ConstructionAndDevelopmentCosts $4.40M USD 1 Quarter
General, administrative and other GeneralAndAdministrativeExpense $5.19M USD 1 Quarter
General, administrative and other GeneralAndAdministrativeExpense $7.21M USD 1 Quarter
Total Operating Expenses OperatingExpenses $25.80M USD 1 Quarter
Total Operating Expenses OperatingExpenses $19.68M USD 1 Quarter
Operating income OperatingIncomeLoss $8.30M USD 1 Quarter
Operating income OperatingIncomeLoss $3.42M USD 1 Quarter
Other expenses, net (Note 10) NonoperatingIncomeExpense $-900.44K USD 1 Quarter
Other expenses, net (Note 10) NonoperatingIncomeExpense $-1.34M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $7.40M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $2.09M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $581.89K USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $2.11M USD 1 Quarter
Net income NetIncomeLoss $5.29M USD 1 Quarter
Net income NetIncomeLoss $1.51M USD 1 Quarter
Basic EarningsPerShareBasic $0.13 USD 1 Quarter
Basic EarningsPerShareBasic $0.03 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.12 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.03 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 44.15M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 41.32M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 45.82M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 46.13M shares 1 Quarter
Cash Flow Statement 92 line items
Line Item Tag Value Unit Period
Net Income ProfitLoss $1.51M USD 1 Quarter
Net Income ProfitLoss $5.29M USD 1 Quarter
Depreciation of project assets CostOfServicesDepreciation $2.61M USD 1 Quarter
Depreciation of project assets CostOfServicesDepreciation $2.21M USD 1 Quarter
Depreciation of property and equipment DepreciationNonproduction $677.97K USD 1 Quarter
Depreciation of property and equipment DepreciationNonproduction $471.79K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $133.29K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $110.83K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $1.66M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets - USD 1 Quarter
Provision for bad debts ProvisionForDoubtfulAccounts $24.19K USD 1 Quarter
Provision for bad debts ProvisionForDoubtfulAccounts $53.64K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $781.45K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $859.05K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.69M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-550.33K USD 1 Quarter
Excess tax benefits from stock-based compensation arrangements ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $391.30K USD 1 Quarter
Excess tax benefits from stock-based compensation arrangements ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $1.20M USD 1 Quarter
Restricted cash draws IncreaseDecreaseInRestrictedCashForOperatingActivities $-10.08M USD 1 Quarter
Restricted cash draws IncreaseDecreaseInRestrictedCashForOperatingActivities $-40.91M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-24.54M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $7.62M USD 1 Quarter
Accounts receivable retainage IncreaseDecreaseInReceivables $-1.44M USD 1 Quarter
Accounts receivable retainage IncreaseDecreaseInReceivables $-5.69M USD 1 Quarter
Federal ESPC receivable FinancingReceivableSignificantSales $14.07M USD 1 Quarter
Federal ESPC receivable FinancingReceivableSignificantSales $36.51M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $140.87K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $1.63M USD 1 Quarter
Costs and estimated earnings in excess of billings IncreaseDecreaseInOtherReceivables $-17.78M USD 1 Quarter
Costs and estimated earnings in excess of billings IncreaseDecreaseInOtherReceivables $6.14M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $21.21K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-2.83M USD 1 Quarter
Project development costs IncreaseDecreaseInConstructionPayables $921.08K USD 1 Quarter
Project development costs IncreaseDecreaseInConstructionPayables $-831.96K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $174.60K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-619.32K USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-23.20M USD 1 Quarter
Accounts payable, accrued expenses and other current liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-20.53M USD 1 Quarter
Billings in excess of cost and estimated earnings IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-4.55M USD 1 Quarter
Billings in excess of cost and estimated earnings IncreaseDecreaseInBillingInExcessOfCostOfEarnings $897.75K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherAccruedLiabilities $870.64K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherAccruedLiabilities $4.34M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $606.67K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-5.45M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-25.62M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $33.21M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.28M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $895.23K USD 1 Quarter
Purchases of project assets PaymentsToAcquireProductiveAssets $10.00M USD 1 Quarter
Purchases of project assets PaymentsToAcquireProductiveAssets $6.59M USD 1 Quarter
Grants awards received on project assets RevenueFromGrants $-3.84M USD 1 Quarter
Grants awards received on project assets RevenueFromGrants $-6.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-790.72K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-7.44M USD 1 Quarter
Excess tax benefits from stock-based compensation arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.20M USD 1 Quarter
Excess tax benefits from stock-based compensation arrangements ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $391.30K USD 1 Quarter
Book overdraft IncreaseDecreaseInBookOverdrafts $-7.30M USD 1 Quarter
Book overdraft IncreaseDecreaseInBookOverdrafts - USD 1 Quarter
Payments of financing fees PaymentsOfFinancingCosts $20.32K USD 1 Quarter
Payments of financing fees PaymentsOfFinancingCosts $50.59K USD 1 Quarter
Proceeds from exercises of options ProceedsFromStockOptionsExercised $1.42M USD 1 Quarter
Proceeds from exercises of options ProceedsFromStockOptionsExercised $1.06M USD 1 Quarter
(Payments on) proceeds from senior secured credit facility ProceedsFromLinesOfCredit $5.00M USD 1 Quarter
(Payments on) proceeds from senior secured credit facility ProceedsFromLinesOfCredit $-6.43M USD 1 Quarter
Proceeds from long-term debt financing ProceedsFromIssuanceOfLongTermDebt $5.50M USD 1 Quarter
Proceeds from long-term debt financing ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Minority interest ProceedsFromMinorityShareholders $7.70K USD 1 Quarter
Minority interest ProceedsFromMinorityShareholders - USD 1 Quarter
Restricted cash ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-587.57K USD 1 Quarter
Restricted cash ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-1.43M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $807.46K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $911.88K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $10.76M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-13.71M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $100.29K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $313.17K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $12.16M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-15.34M USD 1 Quarter
Cash and cash equivalents, beginning of period/year CashAndCashEquivalentsAtCarryingValue $44.69M USD Point-in-time
Cash and cash equivalents, beginning of period/year CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Cash and cash equivalents, beginning of period/year CashAndCashEquivalentsAtCarryingValue $26.28M USD Point-in-time
Cash and cash equivalents, beginning of period/year CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Cash and cash equivalents, beginning of period/year CashAndCashEquivalentsAtCarryingValue $29.35M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $44.69M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $26.28M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $38.44M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $29.35M USD Point-in-time
Interest Paid InterestPaid $471.35K USD 1 Quarter
Interest Paid InterestPaid $725.85K USD 1 Quarter
Income taxes Paid IncomeTaxesPaid $3.25M USD 1 Quarter
Income taxes Paid IncomeTaxesPaid $25.71K USD 1 Quarter
Stockholders Equity 1 line items
Line Item Tag Value Unit Period
Stock-based compensation expense, including excess tax benefit DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost $1.20M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $5.29M USD 1 Quarter
Net income NetIncomeLoss $1.51M USD 1 Quarter
Unrealized gain from interest rate hedge, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $239.85K USD 1 Quarter
Unrealized gain from interest rate hedge, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $1.21M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $530.60K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease $755.40K USD 1 Quarter
Total Other Comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $995.25K USD 1 Quarter
Total Other Comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $1.74M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $6.28M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $3.24M USD 1 Quarter

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

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