10-K Filing

Pangaea Logistics Solutions Ltd. CIK: 1606909 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001606909-19-000010`
Period End Date	20181231
Filing Date	20190320
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	panl-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 42 Cash Flow Statement 79 Stockholders Equity 18

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$2.36M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$2.14M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.61M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable (net of allowance of $2,357,130 and $2,135,877 at December 31, 2018 and 2017, respectively)	`AccountsReceivableNetCurrent`	$21.09M	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
Accounts receivable (net of allowance of $2,357,130 and $2,135,877 at December 31, 2018 and 2017, respectively)	`AccountsReceivableNetCurrent`	$28.48M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Bunker inventory	`InventoryNet`	$15.36M	USD	Point-in-time
Bunker inventory	`InventoryNet`	$19.22M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Advance hire, prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.03M	USD	Point-in-time
Advance hire, prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.19M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$113.51M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$83.01M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.79M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$4.00M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$2.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	43.79M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$306.29M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$281.89M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.00M	shares	Point-in-time
Vessels under capital lease	`Capitalleaseassetnet`	$55.58M	USD	Point-in-time
Vessels under capital lease	`Capitalleaseassetnet`	$29.99M	USD	Point-in-time
Total assets	`Assets`	$423.30M	USD	Point-in-time
Total assets	`Assets`	$453.47M	USD	Point-in-time
Accounts payable, accrued expenses and other current liabilities	`AccountsPayableAccruedExpensesAndOtherCurrentLiabilities`	$29.18M	USD	Point-in-time
Accounts payable, accrued expenses and other current liabilities	`AccountsPayableAccruedExpensesAndOtherCurrentLiabilities`	$31.90M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$7.01M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$2.88M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$5.82M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$14.72M	USD	Point-in-time
Current portion of long-term debt	`OtherLongTermDebtCurrent`	$20.13M	USD	Point-in-time
Current portion of long-term debt	`OtherLongTermDebtCurrent`	$18.98M	USD	Point-in-time
Current portion of capital lease obligation	`CapitalLeaseObligationsCurrent`	$5.36M	USD	Point-in-time
Current portion of capital lease obligation	`CapitalLeaseObligationsCurrent`	$1.79M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$7.24M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$4.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.01M	USD	Point-in-time
Secured long-term debt, net	`SecuredLongTermDebt`	$95.37M	USD	Point-in-time
Secured long-term debt, net	`SecuredLongTermDebt`	$117.62M	USD	Point-in-time
Obligations under capital lease	`CapitalLeaseObligationsNoncurrent`	$25.02M	USD	Point-in-time
Obligations under capital lease	`CapitalLeaseObligationsNoncurrent`	$45.68M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 shares authorized and no share issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 shares authorized and no share issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 100,000,000 shares authorized, 43,998,560 and 43,794,526 shares issued and outstanding at December 31, 2018 and 2017, respectively	`CommonStockValue`	$4.38K	USD	Point-in-time
Common stock, $0.0001 par value, 100,000,000 shares authorized, 43,998,560 and 43,794,526 shares issued and outstanding at December 31, 2018 and 2017, respectively	`CommonStockValue`	$4.40K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$154.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$155.95M	USD	Point-in-time
Retained Earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-9.60M	USD	Point-in-time
Retained Earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$5.74M	USD	Point-in-time
Total Pangaea Logistics Solutions Ltd. equity	`StockholdersEquity`	$161.69M	USD	Point-in-time
Total Pangaea Logistics Solutions Ltd. equity	`StockholdersEquity`	$145.35M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$65.30M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$71.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$176.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$233.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$210.66M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$423.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$453.47M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$385.95M	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$372.97M	USD	Annual
Voyage expense	`VoyageExpense`	$160.58M	USD	Annual
Voyage expense	`VoyageExpense`	$145.15M	USD	Annual
Charter hire expense	`CharterHireExpense`	$116.96M	USD	Annual
Charter hire expense	`CharterHireExpense`	$132.85M	USD	Annual
Vessel operating expenses	`VesselOperatingExpense`	$36.44M	USD	Annual
Vessel operating expenses	`VesselOperatingExpense`	$39.83M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$15.16M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$16.48M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$17.62M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$15.61M	USD	Annual
Loss on sale and leaseback of vessels	`GainLossOnSaleOfProperties`	$-860.43K	USD	Annual
Loss on sale and leaseback of vessels	`GainLossOnSaleOfProperties`	$-9.28M	USD	Annual
Total expenses	`OperatingExpenses`	$336.90M	USD	Annual
Total expenses	`OperatingExpenses`	$369.92M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$36.07M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$16.03M	USD	Annual
Interest expense, net	`InterestExpense`	$7.95M	USD	Annual
Interest expense, net	`InterestExpense`	$8.69M	USD	Annual
Interest expense, related party	`InterestExpenseRelatedParty`	$202.75K	USD	Annual
Interest expense, related party	`InterestExpenseRelatedParty`	$316.25K	USD	Annual
Unrealized (loss) gain on derivative instruments	`UnrealizedGainLossOnDerivatives`	$360.32K	USD	Annual
Unrealized (loss) gain on derivative instruments	`UnrealizedGainLossOnDerivatives`	$-3.87M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$984.60K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$677.09K	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-12.09M	USD	Annual
Total other expense, net	`NonoperatingIncomeExpense`	$-6.93M	USD	Annual
Net income	`ProfitLoss`	$23.98M	USD	Annual
Net income	`ProfitLoss`	$9.10M	USD	Annual
Income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$6.22M	USD	Annual
Income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.29M	USD	Annual
Net income attributable to Pangaea Logistics Solutions Ltd.	`NetIncomeLoss`	$7.81M	USD	Annual
Net income attributable to Pangaea Logistics Solutions Ltd.	`NetIncomeLoss`	$17.76M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.41M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	42.25M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.78M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.93M	shares	Annual

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$23.98M	USD	Annual
Net income	`ProfitLoss`	$9.10M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$15.61M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$17.62M	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredFinancingCostsAndBankFees`	$693.79K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredFinancingCostsAndBankFees`	$681.28K	USD	Annual
Amortization of prepaid rent	`Amortizationofprepaidrent`	$-121.94K	USD	Annual
Amortization of prepaid rent	`Amortizationofprepaidrent`	$-121.94K	USD	Annual
Unrealized loss (gain) on derivative instruments	`UnrealizedGainLossOnCashFlowHedgingInstruments`	$-3.87M	USD	Annual
Unrealized loss (gain) on derivative instruments	`UnrealizedGainLossOnCashFlowHedgingInstruments`	$360.32K	USD	Annual
Income from equity method investee	`IncomeLossFromEquityMethodInvestments`	$256.48K	USD	Annual
Income from equity method investee	`IncomeLossFromEquityMethodInvestments`	$224.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$268.99K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$543.62K	USD	Annual
Loss on sale and leaseback of vessels	`GainLossOnSaleOfOtherAssets`	$-860.43K	USD	Annual
Loss on sale and leaseback of vessels	`GainLossOnSaleOfOtherAssets`	$-9.28M	USD	Annual
Drydocking costs	`PaymentForDrydockingCosts`	$2.14M	USD	Annual
Drydocking costs	`PaymentForDrydockingCosts`	$3.78M	USD	Annual
Recognized cost for restricted stock issued as compensation	`ShareBasedCompensation`	$1.07M	USD	Annual
Recognized cost for restricted stock issued as compensation	`ShareBasedCompensation`	$1.20M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.64M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.66M	USD	Annual
Bunker inventory	`IncreaseDecreaseInInventories`	$3.87M	USD	Annual
Bunker inventory	`IncreaseDecreaseInInventories`	$2.15M	USD	Annual
Advance hire, prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.37M	USD	Annual
Advance hire, prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.62M	USD	Annual
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities`	$6.98M	USD	Annual
Accounts payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities`	$-392.16K	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$4.17M	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-607.06K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.13M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.22M	USD	Annual
Purchase of vessels and vessel improvements	`PaymentForPurchaseOfVessels`	$17.13M	USD	Annual
Purchase of vessels and vessel improvements	`PaymentForPurchaseOfVessels`	$64.03M	USD	Annual
Purchase of building and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	Annual
Purchase of building and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$414.92K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$31.59K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$306.97K	USD	Annual
Purchase of non-controlling interest in consolidated subsidiary	`Purchasefromnoncontrollinginterest`	$830.91K	USD	Annual
Purchase of non-controlling interest in consolidated subsidiary	`Purchasefromnoncontrollinginterest`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.55M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.51M	USD	Annual
Payments on related party debt	`RepaymentsOfRelatedPartyDebt`	$4.13M	USD	Annual
Payments on related party debt	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$35.00M	USD	Annual
Payments of financing and issuance costs	`PaymentOfFinancingAndStockIssuanceCosts`	$1.02M	USD	Annual
Payments of financing and issuance costs	`PaymentOfFinancingAndStockIssuanceCosts`	$728.04K	USD	Annual
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$21.06M	USD	Annual
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$25.33M	USD	Annual
Proceeds from sale and leaseback of vessels	`SaleLeasebackTransactionNetProceedsFinancingActivities`	$28.00M	USD	Annual
Proceeds from sale and leaseback of vessels	`SaleLeasebackTransactionNetProceedsFinancingActivities`	$27.75M	USD	Annual
Payments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$3.50M	USD	Annual
Payments on capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.20M	USD	Annual
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	$904.80K	USD	Annual
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	-	USD	Annual
Common stock accrued dividends paid	`PaymentsOfDividendsCommonStock`	$2.27M	USD	Annual
Common stock accrued dividends paid	`PaymentsOfDividendsCommonStock`	$1.00M	USD	Annual
Contributions from noncontrolling interests	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-146.65K	USD	Annual
Contributions from noncontrolling interests	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	-	USD	Annual
Contributions from noncontrolling interests	`ProceedsFromPaymentsToMinorityShareholders`	-	USD	Annual
Contributions from noncontrolling interests	`ProceedsFromPaymentsToMinorityShareholders`	$1.36M	USD	Annual
Proceeds from private placement of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-50.81K	USD	Annual
Proceeds from private placement of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$9.63M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.44M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.04M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$17.58M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.11M	USD	Annual
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.42M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.61M	USD	Point-in-time
Conversion of related party debt to noncontrolling interest	`DebtConversionConvertedInstrumentAmount1`	$9.28M	USD	Annual
Conversion of related party debt to noncontrolling interest	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of dividend into common stock	`Stockissuedduringperiodvalueissuranceofcommonstockassettlementofaccrueddividends`	$4.29M	USD	Annual
Conversion of dividend into common stock	`Stockissuedduringperiodvalueissuranceofcommonstockassettlementofaccrueddividends`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	$6.98M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$8.64M	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$176.68M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$233.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$210.66M	USD	Point-in-time
Recognized cost for restricted stock issued as compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.07M	USD	Annual
Recognized cost for restricted stock issued as compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.20M	USD	Annual
Issuance of restricted shares, net of forfeitures	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$-146.66K	USD	Annual
Acquisition of noncontrolling interest	`MinorityInterestDecreaseFromRedemptions`	$830.91K	USD	Annual
Contribution from noncontrolling interest	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$1.36M	USD	Annual
Contribution from noncontrolling interest	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$150.00K	USD	Annual
Conversion of related party debt to noncontrolling interest	`Conversionofrelatedpartydebttononcontrollinginterest`	$9.28M	USD	Annual
Issuance of common shares, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$-50.81K	USD	Annual
Issuance of common shares, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$14.00M	USD	Annual
Change in accounting pronouncement	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-2.42M	USD	Point-in-time
Net income	`ProfitLoss`	$23.98M	USD	Annual
Net income	`ProfitLoss`	$9.10M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$176.68M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$233.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$210.66M	USD	Point-in-time

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