Company Quick10K Filing
Quick10K
Wynn Resorts
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$105.41 108 $11,349
10-Q 2019-09-30 Quarter: 2019-09-30
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-11-06 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-09-20 Enter Agreement, Off-BS Arrangement
8-K 2019-09-12 Other Events, Exhibits
8-K 2019-09-11 Regulation FD, Exhibits
8-K 2019-09-05 Regulation FD, Exhibits
8-K 2019-08-06 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-05-29 Officers
8-K 2019-05-09 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-05-07 Shareholder Vote
8-K 2019-04-30 Regulation FD, Other Events, Exhibits
8-K 2019-04-23 Regulation FD, Exhibits
8-K 2019-04-09 Regulation FD, Exhibits
8-K 2019-04-08 Regulation FD
8-K 2019-03-08 Enter Agreement, Off-BS Arrangement, Regulation FD
8-K 2019-01-30 Earnings, Regulation FD, Other Events, Exhibits
8-K 2019-01-25 Regulation FD, Other Events, Exhibits
8-K 2018-12-21 Enter Agreement, Off-BS Arrangement
8-K 2018-12-17 Officers
8-K 2018-11-07 Earnings, Regulation FD, Other Events, Exhibits
8-K 2018-10-30 Enter Agreement, Off-BS Arrangement, Regulation FD
8-K 2018-09-19 Regulation FD
8-K 2018-09-10 Regulation FD, Exhibits
8-K 2018-08-03 Enter Agreement, Officers, Enter Agreement, Regulation FD, Exhibits
8-K 2018-08-03 Officers, Exhibits
8-K 2018-08-03 Regulation FD
8-K 2018-08-01 Earnings, Regulation FD, Other Events, Exhibits
8-K 2018-07-25 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-06-28 Officers
8-K 2018-05-16 Shareholder Vote
8-K 2018-05-14 Officers, Regulation FD, Exhibits
8-K 2018-04-24 Earnings, Regulation FD, Other Events, Exhibits
8-K 2018-04-19 Other Events, Exhibits
8-K 2018-04-17 Officers
8-K 2018-03-28 Enter Agreement, Leave Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2018-03-22 Other Events, Exhibits
8-K 2018-03-20 Enter Agreement, Exhibits
8-K 2018-03-15 Other Events, Exhibits
8-K 2018-03-09 Regulation FD, Exhibits
8-K 2018-03-08 Enter Agreement, Leave Agreement, Regulation FD, Exhibits
8-K 2018-03-07 Officers
8-K 2018-02-16 Other Events, Exhibits
8-K 2018-02-09 Regulation FD, Exhibits
8-K 2018-02-06 Officers, Regulation FD, Exhibits
8-K 2018-01-26 Regulation FD
8-K 2018-01-22 Earnings, Regulation FD, Other Events, Exhibits
MAR Marriott 41,867
MLCO Melco Resorts & Entertainment 30,861
HLT Hilton Worldwide Holdings 26,525
IHG Intercontinental Hotels Group 11,898
CHH Choice Hotels 4,961
BYD Boyd Gaming 2,609
RRR Red Rock Resorts 2,519
PLYA Playa Hotels & Resorts 1,002
SKIS Peak Resorts 165
MSC Hexion 0
WYNN 2019-09-30
Part I. Financial Information
Item 1. Financial Statements
Note 1 - Organization
Note 2 - Basis of Presentation and Significant Accounting Policies
Note 3 - Cash, Cash Equivalents and Restricted Cash
Note 4 - Receivables, Net
Note 5 - Property and Equipment, Net
Note 6 - Long-Term Debt
Note 7 - Stockholders' Equity
Note 8 - Fair Value Measurements
Note 9 - Customer Contract Liabilities
Note 10 - Stock-Based Compensation
Note 11 - Income Taxes
Note 12 - Earnings per Share
Note 13 - Leases
Note 14 - Commitments and Contingencies
Note 15 - Retail Joint Venture
Note 16 - Segment Information
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 5. Other Information
Item 6. Exhibits
EX-4.1 ex41-seniornotesindent.htm
EX-10.1 ex101-wynn2019xcredita.htm
EX-31.1 ex311-q319.htm
EX-31.2 ex312-q319.htm
EX-32 ex32-q319.htm

Wynn Resorts Earnings 2019-09-30

WYNN 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
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Table of Contents


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2019
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                    to                 
Commission File No. 000-50028

 WYNN RESORTS, LIMITED
(Exact name of registrant as specified in its charter)
Nevada
 
46-0484987
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
3131 Las Vegas Boulevard South - Las Vegas, Nevada 89109
(Address of principal executive offices) (Zip Code)
(702) 770-7555
(Registrant's telephone number, including area code)
 
N/A
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common stock, par value $0.01
 
WYNN
 
Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:    Yes     No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
 
Accelerated filer
 
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes     No
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.
Class
 
Outstanding at October 31, 2019
Common stock, par value $0.01
  
107,354,606


Table of Contents


WYNN RESORTS, LIMITED AND SUBSIDIARIES
FORM 10-Q
INDEX
 
Part I.
Financial Information
 
 
 
 
 
 
 
 
 
 
 
Part II.
Other Information
 

 
2
 

Table of Contents


Part I. FINANCIAL INFORMATION
Item 1. Financial Statements
WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
 
September 30,
2019
 
December 31,
2018
 
(unaudited)
 
 
ASSETS
Current assets:
 
 
 
Cash and cash equivalents
$
1,676,110

 
$
2,215,001

Receivables, net
286,611

 
276,644

Inventories
80,486

 
66,627

Prepaid expenses and other
68,045

 
83,104

Total current assets
2,111,252

 
2,641,376

Property and equipment, net
9,621,268

 
9,385,920

Restricted cash
6,182

 
4,322

Intangible assets, net
148,972

 
222,506

Operating lease assets
444,157

 

Deferred income taxes, net
719,614

 
736,452

Other assets
225,613

 
225,693

Total assets
$
13,277,058

 
$
13,216,269

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 
 
 
Accounts and construction payables
$
292,140

 
$
321,796

Customer deposits
956,744

 
955,450

Gaming taxes payable
188,496

 
247,341

Accrued compensation and benefits
162,752

 
163,966

Accrued interest
74,340

 
61,595

Current portion of long-term debt
116,118

 
11,960

Other accrued liabilities
139,794

 
119,955

Total current liabilities
1,930,384

 
1,882,063

Long-term debt
9,421,845

 
9,411,140

Long-term operating lease liabilities
149,970

 

Other long-term liabilities
108,980

 
108,277

Total liabilities
11,611,179

 
11,401,480

Commitments and contingencies (Note 14)

 

Stockholders' equity:
 
 
 
Preferred stock, par value $0.01; 40,000,000 shares authorized; zero shares issued and outstanding

 

Common stock, par value $0.01; 400,000,000 shares authorized; 122,826,131 and 122,115,585 shares issued; 107,362,502 and 107,232,026 shares outstanding, respectively
1,228

 
1,221

Treasury stock, at cost; 15,463,629 and 14,883,559 shares, respectively
(1,409,717
)
 
(1,344,012
)
Additional paid-in capital
2,507,870

 
2,457,079

Accumulated other comprehensive loss
(2,700
)
 
(1,950
)
Retained earnings
822,070

 
921,785

Total Wynn Resorts, Limited stockholders' equity
1,918,751

 
2,034,123

Noncontrolling interests
(252,872
)
 
(219,334
)
Total stockholders' equity
1,665,879

 
1,814,789

Total liabilities and stockholders' equity
$
13,277,058

 
$
13,216,269


The accompanying notes are an integral part of these condensed consolidated financial statements.

 
3
 

Table of Contents


WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Operating revenues:
 
 
 
 
 
 
 
Casino
$
1,108,364

 
$
1,222,029

 
$
3,435,968

 
$
3,564,195

Rooms
205,876

 
183,044

 
595,953

 
559,405

Food and beverage
228,508

 
193,874

 
619,749

 
580,963

Entertainment, retail and other
105,014

 
110,125

 
305,970

 
325,511

Total operating revenues
1,647,762

 
1,709,072

 
4,957,640

 
5,030,074

Operating expenses:
 
 
 
 
 
 
 
Casino
722,692

 
783,171

 
2,197,750

 
2,254,766

Rooms
75,188

 
62,965

 
205,042

 
189,837

Food and beverage
196,661

 
162,311

 
527,502

 
468,265

Entertainment, retail and other
42,078

 
44,028

 
129,636

 
138,647

General and administrative
246,442

 
192,327

 
665,988

 
545,543

Litigation settlement

 

 

 
463,557

Provision for doubtful accounts
4,036

 
3,285

 
13,039

 
2,586

Pre-opening
1,616

 
13,714

 
99,212

 
35,255

Depreciation and amortization
172,998

 
137,458

 
449,824

 
411,685

Property charges and other
8,216

 
18,830

 
17,920

 
30,672

Total operating expenses
1,469,927

 
1,418,089

 
4,305,913

 
4,540,813

Operating income
177,835

 
290,983

 
651,727

 
489,261

Other income (expense):
 
 
 
 
 
 
 
Interest income
6,427

 
6,948

 
19,979

 
21,029

Interest expense, net of amounts capitalized
(114,652
)
 
(93,007
)
 
(300,981
)
 
(281,132
)
Change in derivatives fair value
(2,101
)
 
(54
)
 
(6,914
)
 
(54
)
Change in Redemption Note fair value

 

 

 
(69,331
)
(Loss) gain on extinguishment of debt
(12,196
)
 
(198
)
 
(12,196
)
 
2,131

Other
(8,703
)
 
11,216

 
(3,346
)
 
1,039

Other income (expense), net
(131,225
)
 
(75,095
)
 
(303,458
)
 
(326,318
)
Income before income taxes
46,610

 
215,888

 
348,269

 
162,943

Benefit (provision) for income taxes
(19,727
)
 
3,884

 
(19,421
)
 
124,631

Net income
26,883

 
219,772

 
328,848

 
287,574

Less: net income attributable to noncontrolling interests
(30,379
)
 
(63,657
)
 
(132,921
)
 
(180,010
)
Net income (loss) attributable to Wynn Resorts, Limited
$
(3,496
)
 
$
156,115

 
$
195,927

 
$
107,564

Basic and diluted net income (loss) per common share:
 
 
 
 
 
 
 
Net income (loss) attributable to Wynn Resorts, Limited:
 
 
 
 
 
 
 
Basic
$
(0.03
)
 
$
1.44

 
$
1.83

 
$
1.01

Diluted
$
(0.03
)
 
$
1.44

 
$
1.83

 
$
1.01

Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic
106,707

 
108,064

 
106,791

 
106,162

Diluted
106,707

 
108,533

 
107,024

 
106,721

Dividends declared per common share
$
1.00

 
$
0.75

 
$
2.75

 
$
2.00


The accompanying notes are an integral part of these condensed consolidated financial statements.

 
4
 

Table of Contents


WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(in thousands)
(unaudited)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019

2018
 
2019
 
2018
Net income
$
26,883

 
$
219,772

 
$
328,848

 
$
287,574

Other comprehensive income (loss):
 
 
 
 
 
 
 
Foreign currency translation adjustments, before and after tax
(989
)
 
(175
)
 
(1,039
)
 
(2,121
)
Change in net unrealized (loss) gain on investment securities, before and after tax

 
(19
)
 

 
1,292

Redemption Note credit risk adjustment, net of tax of $2,735

 

 

 
9,211

Total comprehensive income
25,894

 
219,578

 
327,809

 
295,956

Less: comprehensive income attributable to noncontrolling interests
(30,104
)
 
(63,608
)
 
(132,632
)
 
(179,419
)
Comprehensive income (loss) attributable to Wynn Resorts, Limited
$
(4,210
)
 
$
155,970

 
$
195,177

 
$
116,537


The accompanying notes are an integral part of these condensed consolidated financial statements.

 
5
 

Table of Contents


WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(in thousands, except share data)
(unaudited)
 
For the Three Months Ended September 30, 2019
 
Common stock
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
outstanding
 
Par
value
 
Treasury
stock
 
Additional
paid-in
capital
 
Accumulated
other
comprehensive
loss
 
Retained earnings
 
Total Wynn Resorts, Ltd.
stockholders'
equity
 
Noncontrolling
interests
 
Total
stockholders'
equity
Balances, July 1, 2019
107,610,356

 
$
1,228

 
$
(1,379,644
)
 
$
2,498,316

 
$
(1,986
)
 
$
932,907

 
$
2,050,821

 
$
(199,882
)
 
$
1,850,939

Net income (loss)

 

 

 

 

 
(3,496
)
 
(3,496
)
 
30,379

 
26,883

Currency translation adjustment

 

 

 

 
(714
)
 

 
(714
)
 
(275
)
 
(989
)
Exercise of stock options
36,000

 

 

 
2,151

 

 

 
2,151

 

 
2,151

Issuance of restricted stock
27,276

 

 

 

 

 

 

 

 

Cancellation of restricted stock
(27,809
)
 

 

 

 

 

 

 

 

Shares repurchased by the Company and held as treasury shares
(283,321
)
 

 
(30,073
)
 

 

 

 
(30,073
)
 

 
(30,073
)
Cash dividends declared

 

 

 

 

 
(107,341
)
 
(107,341
)
 
(82,949
)
 
(190,290
)
Distribution to noncontrolling interest

 

 

 

 

 

 

 
(998
)
 
(998
)
Stock-based compensation

 

 

 
7,403

 

 

 
7,403

 
853

 
8,256

Balances, September 30, 2019
107,362,502

 
$
1,228

 
$
(1,409,717
)
 
$
2,507,870

 
$
(2,700
)
 
$
822,070

 
$
1,918,751

 
$
(252,872
)
 
$
1,665,879




 
For the Three Months Ended September 30, 2018
 
Common stock
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
outstanding
 
Par
value
 
Treasury
stock
 
Additional
paid-in
capital
 
Accumulated
other
comprehensive
loss
 
Retained earnings
 
Total Wynn Resorts, Ltd.
stockholders'
equity
 
Noncontrolling
interests
 
Total
stockholders'
equity
Balances, July 1, 2018
108,642,371

 
$
1,220

 
$
(1,184,967
)
 
$
2,435,720

 
$
(1,938
)
 
$
462,950

 
$
1,712,985

 
$
106,610

 
$
1,819,595

Net income

 

 

 

 

 
156,115

 
156,115

 
63,657

 
219,772

Currency translation adjustment

 

 

 

 
(126
)
 

 
(126
)
 
(49
)
 
(175
)
Change in net unrealized loss on investment securities

 

 

 

 
(19
)
 

 
(19
)
 

 
(19
)
Exercise of stock options
126,190

 
1

 

 
9,740

 

 

 
9,741

 

 
9,741

Issuance of common stock

 

 

 
27

 

 

 
27

 

 
27

Issuance of restricted stock
38,695

 
1

 

 
(1
)
 

 

 

 

 

Cancellation of restricted stock
(60,714
)
 
(1
)
 

 

 

 

 
(1
)
 

 
(1
)
Shares repurchased by the Company and held as treasury shares
(15,460
)
 

 
(2,306
)
 

 

 

 
(2,306
)
 

 
(2,306
)
Cash dividends declared

 

 

 

 

 
(81,294
)
 
(81,294
)
 
(138,258
)
 
(219,552
)
Distribution to noncontrolling interest

 

 

 

 

 

 

 
(297,261
)
 
(297,261
)
Stock-based compensation

 

 

 
9,871

 

 

 
9,871

 
591

 
10,462

Balances, September 30, 2018
108,731,082

 
$
1,221

 
$
(1,187,273
)
 
$
2,455,357

 
$
(2,083
)
 
$
537,771

 
$
1,804,993

 
$
(264,710
)
 
$
1,540,283


The accompanying notes are an integral part of these condensed consolidated financial statements.











 
6
 

Table of Contents


WYNN RESORTS, LIMITED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (continued)
(in thousands, except share data)
(unaudited)
 
For the Nine Months Ended September 30, 2019
 
Common stock
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
outstanding
 
Par
value
 
Treasury
stock
 
Additional
paid-in
capital
 
Accumulated
other
comprehensive
loss
 
Retained earnings
 
Total Wynn Resorts, Ltd.
stockholders'
equity
 
Noncontrolling
interests
 
Total
stockholders'
equity
Balances, January 1, 2019
107,232,026

 
$
1,221

 
$
(1,344,012
)
 
$
2,457,079

 
$
(1,950
)
 
$
921,785

 
$
2,034,123

 
$
(219,334
)
 
$
1,814,789

Net income

 

 

 

 

 
195,927

 
195,927

 
132,921

 
328,848

Currency translation adjustment

 

 

 

 
(750
)
 

 
(750
)
 
(289
)
 
(1,039
)
Exercise of stock options
293,690

 
3

 

 
14,693

 

 

 
14,696

 

 
14,696

Issuance of restricted stock
456,505

 
4

 

 
14,344

 

 

 
14,348

 
785

 
15,133

Cancellation of restricted stock
(39,649
)
 

 

 

 

 

 

 

 

Shares repurchased by the Company and held as treasury shares
(580,070
)
 

 
(65,705
)
 

 

 

 
(65,705
)
 

 
(65,705
)
Cash dividends declared

 

 

 

 

 
(295,642
)
 
(295,642
)
 
(165,849
)
 
(461,491
)
Distribution to noncontrolling interest

 

 

 

 

 

 

 
(3,725
)
 
(3,725
)
Stock-based compensation

 

 

 
21,754

 

 

 
21,754

 
2,619

 
24,373

Balances, September 30, 2019
107,362,502

 
$
1,228

 
$
(1,409,717
)
 
$
2,507,870

 
$
(2,700
)
 
$
822,070

 
$
1,918,751

 
$
(252,872
)
 
$
1,665,879



 
 
For the Nine Months Ended September 30, 2018
 
Common stock
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
outstanding
 
Par
value
 
Treasury
stock
 
Additional
paid-in
capital
 
Accumulated
other
comprehensive
loss
 
Retained earnings
 
Total Wynn Resorts, Ltd.
stockholders'
equity
 
Noncontrolling
interests
 
Total
stockholders'
equity
Balances, January 1, 2018
103,005,866

 
$
1,164

 
$
(1,184,468
)
 
$
1,497,928

 
$
(1,845
)
 
$
635,067

 
$
947,846

 
$
130,504

 
$
1,078,350

Cumulative effect, change in accounting for credit risk, net of tax of $2,735

 

 

 

 
(9,211
)
 
9,211

 

 

 

Net income

 

 

 

 

 
107,564

 
107,564

 
180,010

 
287,574

Currency translation adjustment

 

 

 

 
(1,530
)
 

 
(1,530
)
 
(591
)
 
(2,121
)
Change in net unrealized loss on investment securities

 

 

 

 
1,292

 

 
1,292

 

 
1,292

Redemption Note settlement

 

 

 

 
9,211

 

 
9,211

 

 
9,211

Exercise of stock options
238,780

 
2

 

 
19,805

 

 

 
19,807

 
506

 
20,313

Issuance of common stock
5,300,000

 
53

 

 
915,187

 

 

 
915,240

 

 
915,240

Issuance of restricted stock
280,834

 
3

 

 
1,295

 

 

 
1,298

 
501

 
1,799

Cancellation of restricted stock
(75,908
)
 
(1
)
 

 
1

 

 

 

 

 

Shares repurchased by the Company and held as treasury shares
(18,490
)