0001558370-24-000472.txt : 20240124
0001558370-24-000472.hdr.sgml : 20240124
20240124162323
ACCESSION NUMBER: 0001558370-24-000472
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 16
CONFORMED PERIOD OF REPORT: 20240124
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20240124
DATE AS OF CHANGE: 20240124
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: RLI CORP
CENTRAL INDEX KEY: 0000084246
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 370889946
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-09463
FILM NUMBER: 24556794
BUSINESS ADDRESS:
STREET 1: 9025 N. LINDBERGH DRIVE
CITY: PEORIA
STATE: IL
ZIP: 61615
BUSINESS PHONE: 3096921000
MAIL ADDRESS:
STREET 1: 9025 N. LINDBERGH DRIVE
CITY: PEORIA
STATE: IL
ZIP: 61615
8-K
1
rli-20240124x8k.htm
8-K
0000084246false00000842462024-01-242024-01-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 24, 2024
RLI Corp.
(Exact name of registrant as specified in its charter)
Delaware
001-09463
37-0889946
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
9025 North Lindbergh Drive, Peoria, IL
61615
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (309) 692-1000
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock $0.01 par value
RLI
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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. ☐
Item 2.02 Results of Operations and Financial Condition.
On January 24, 2024, RLI Corp. announced its results of operations for the fourth quarter and year ended December 31, 2023. Furnished as Exhibit 99.1 and incorporated herein by reference is the press release issued by RLI Corp.
This Exhibit is furnished pursuant to Item 2.02 hereof and should not be deemed to be “filed” under the Securities Exchange Act of 1934.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RLI CORP.
Date: January 24, 2024
By:
/s/ Todd W. Bryant
Todd W. Bryant
Chief Financial Officer
EX-99.1
2
rli-20240124xex99d1.htm
EX-99.1
EXHIBIT 99.1
RLI REPORTS FOURTH QUARTER AND YEAR-END 2023 RESULTS
PEORIA, ILLINOIS, January 24, 2024 – RLI Corp. (NYSE: RLI) – RLI Corp. reported fourth quarter 2023 net earnings of $114.6 million ($2.49 per share), compared to $97.8 million ($2.13 per share) for the fourth quarter of 2022. Operating earnings(2)(3) for the fourth quarter of 2023 were $71.1 million ($1.54 per share), compared to $70.5 million ($1.53 per share) for the same period in 2022.
Fourth Quarter
Year to Date
Earnings Per Diluted Share
2023
2022
2023
2022
Net earnings (1)
$
2.49
$
2.13
$
6.61
$
12.74
Operating earnings (2) (3)
$
1.54
$
1.53
$
4.94
$
4.69
(1)
The year to date net earnings for 2022 include $434.4 million ($9.49 per diluted share) related to the sale of Maui Jim, Inc. in the third quarter of 2022.
(2)
See discussion below: Non-GAAP and Performance Measures.
(3)
Equity in earnings of Maui Jim and the related taxes were excluded from operating earnings per share in 2022 due to the sale of RLI’s investment in Maui Jim in the third quarter of 2022.
Highlights for the quarter included:
●
Underwriting income(2) of $59.8 million on a combined ratio(2) of 82.7.
●
13% increase in gross premiums written.
●
Favorable development in prior years’ loss reserves resulted in a $12.5 million net increase in underwriting income.
●
Special dividend of $2.00 per share, representing $91.3 million returned to shareholders.
Highlights for the year included:
●
Underwriting income(2) of $173.2 million on a combined ratio(2) of 86.6.
●
15% increase in gross premiums written.
●
40% increase in net investment income.
●
Favorable development in prior years’ loss reserves resulted in a $95.3 million net increase in underwriting income.
●
Book value per share of $30.97, an increase of 31% (inclusive of dividends) from year-end 2022.
“Continued premium growth across all product segments drove RLI’s strong fourth quarter performance and supported our 28th consecutive year of underwriting profit," said RLI Corp. President & CEO Craig Kliethermes. "Gross premiums written grew 13% in the quarter and we achieved an 83 combined ratio. Underwriting and investment income were solid contributors to quarterly operating earnings of $1.54 per share and book value growth of 31% from year-end 2022. Our success during the year is a reminder that underwriting discipline and financial strength put us in the best position to fulfill our promise to policyholders and provide superior customer service."
"As we turn our focus to 2024, I want to thank our associate-owners who drive RLI forward every day. Their dedication is a testament to our ability to meet the challenges and opportunities that lie ahead."
Underwriting Income
RLI achieved $59.8 million of underwriting income in the fourth quarter of 2023 on an 82.7 combined ratio, compared to $54.0 million on an 82.1 combined ratio in 2022.
For the year, RLI achieved $173.2 million of underwriting income on an 86.6 combined ratio, compared to $178.2 million on an 84.4 combined ratio in 2022. Favorable development in prior years’ loss reserves resulted in a $95.3 million net increase to underwriting income in 2023, which was partially offset by $81.2 million of Hawaiian wildfire and other storm losses. Comparatively, favorable development in prior years’ loss reserves resulted in a $106.5 million net increase to underwriting income in 2022, which was partially offset by $44.4 million of hurricane and storm losses.
--more--
The following table highlights underwriting income and combined ratios by segment for the year.
Underwriting Income(1)
Combined Ratio(1)
(in millions)
2023
2022
2023
2022
Casualty
$
59.5
$
73.8
Casualty
92.2
89.6
Property
86.3
72.5
Property
78.5
76.4
Surety
27.4
31.9
Surety
79.6
74.4
Total
$
173.2
$
178.2
Total
86.6
84.4
(1)
See discussion below: Non-GAAP and Performance Measures.
Other Income
Net investment income for the quarter increased 14.4% to $32.5 million, compared to the same period in 2022. For the year ended December 31, 2023, net investment income was $120.4 million, compared to $86.1 million for the same period in 2022. The investment portfolio’s total return was 6.4% for the quarter and 8.8% for the year.
RLI’s comprehensive earnings were $216.2 million for the quarter ($4.69 per share), compared to $113.3 million ($2.47 per share) for the same quarter in 2022. Full-year comprehensive earnings were $367.4 million ($7.97 per share), compared to $304.5 million ($6.65 per share) in 2022. In addition to net earnings, comprehensive earnings for 2023 included after-tax unrealized gains from the fixed income portfolio, due to declining interest rates.
Special and Regular Dividends
On December 20, 2023, the company paid a special cash dividend of $2.00 per share and a regular quarterly dividend of $0.27 per share for a combined total of $103.6 million. RLI has paid dividends for 190 consecutive quarters and increased regular dividends in each of the last 48 years. Over the last 10 years, the company has returned $1.41 billion to shareholders and the regular dividend has grown an average of 4.7% per year.
Non-GAAP and Performance Measures
Management has included certain non-generally accepted accounting principles (non-GAAP) financial measures in presenting the company’s results. Management believes that these non-GAAP measures further explain the company’s results of operations and allow for a more complete understanding of the underlying trends in the company’s business. These measures should not be viewed as a substitute for those determined in accordance with generally accepted accounting principles (GAAP). In addition, our definitions of these items may not be comparable to the definitions used by other companies.
Operating earnings and operating earnings per share (EPS) consist of our GAAP net earnings adjusted by net realized gains/(losses), net unrealized gains/(losses) on equity securities and taxes related thereto. Additionally, equity in earnings of Maui Jim and the related taxes were excluded from operating earnings and operating EPS for 2022 due to the sale of RLI’s investment in the third quarter of 2022. Net earnings and net earnings per share are the GAAP financial measures that are most directly comparable to operating earnings and operating EPS. A reconciliation of the operating earnings and operating EPS to the comparable GAAP financial measures is included in the 2023 financial highlights below.
Underwriting income or profit represents the pretax profitability of our insurance operations and is derived by subtracting loss and settlement expenses, policy acquisition costs and insurance operating expenses from net premium earned, which are all GAAP financial measures. The combined ratio, which is derived from components of underwriting income, is a performance measure commonly used by property and casualty insurance companies and is calculated as the sum of loss and settlement expenses, policy acquisition costs and insurance operating expenses, divided by net premiums earned, which are all GAAP measures.
Other News
At 10 a.m. central standard time (CST) tomorrow, January 25, 2024, RLI management will hold a conference call to discuss quarterly results with insurance industry analysts. Interested parties may listen to the discussion at https://events.q4inc.com/attendee/112063672.
--more--
2
Except for historical information, this news release may include forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) including, without limitation, statements reflecting our current expectations about the future performance of our company or our business segments or about future market conditions. These statements are subject to certain risk factors that could cause actual results to differ materially. Various risk factors that could affect future results are listed in the company's filings with the Securities and Exchange Commission, including the Form 10-K Annual Report for the year ended December 31, 2022.
About RLI
RLI Corp. (NYSE: RLI) is a specialty insurer serving niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s insurance subsidiaries are rated A+ (Superior) by AM Best Company. RLI has paid and increased regular dividends for 48 consecutive years and delivered underwriting profits for 28 consecutive years. To learn more about RLI, visit www.rlicorp.com.
Media Contact
Aaron Diefenthaler
Chief Investment Officer & Treasurer
309-693-5846
Aaron.Diefenthaler@rlicorp.com
3
Supplemental disclosure regarding the earnings impact of specific items:
Reserve Development and Catastrophe Losses,
Net of Reinsurance
Three Months Ended
Twelve Months Ended
December 31,
December 31,
(Dollars in millions, except per share amounts)
2023
2022
2023
2022
Favorable development in casualty prior years' reserves
$
9.0
$
14.0
$
76.0
$
87.0
Favorable development in property prior years' reserves
$
2.0
$
0.4
$
16.2
$
21.2
Favorable development in surety prior years' reserves
$
0.6
$
1.1
$
8.9
$
10.4
Net incurred losses related to:
2023 storms
$
(4.0)
$
—
$
(31.0)
$
—
Hawaiian wildfires
$
2.4
$
—
$
(49.3)
$
—
2022 and prior events
$
2.9
$
(2.0)
$
7.5
$
(47.0)
Reinstatement premium from Hawaiian wildfires
$
2.6
$
—
$
(11.7)
$
—
Operating Earnings Per Share
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2023
2022
2023
2022
Operating Earnings Per Share(1) (2)
$
1.54
$
1.53
$
4.94
$
4.69
Specific items included in operating earnings per share:(3) (4)
Net favorable development in casualty prior years' reserves
$
0.13
$
0.21
$
1.14
$
1.31
Net favorable development in property prior years' reserves
$
0.03
$
0.01
$
0.23
$
0.32
Net favorable development in surety prior years' reserves
$
0.01
$
0.01
$
0.12
$
0.15
Net incurred losses related to:
2023 storms
$
(0.06)
$
—
$
(0.46)
$
—
Hawaiian wildfires (incurred loss and reinstatement premium)
$
0.07
$
—
$
(0.90)
$
—
2022 and prior events
$
0.04
$
(0.03)
$
0.10
$
(0.71)
Gain from tax benefit of special dividend to ESOP(5)
$
0.02
$
0.08
$
0.02
$
0.08
(1)
See discussion above: Non-GAAP and Performance Measures.
(2)
Equity in earnings of Maui Jim and the related taxes were excluded from operating earnings per share in 2022 due to the sale of RLI’s investment in Maui Jim in the third quarter of 2022.
(3)
Includes incentive and profit sharing-related impacts which affected policy acquisition, insurance operating and general corporate expenses.
(4)
Reserve development reflects changes from previously estimated losses.
(5)
Dividends paid on employer securities in an ESOP are fully deductible from taxable income and resulted in a 21% tax benefit.
4
RLI CORP
2023 FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share amounts)
Three Months Ended December 31,
Twelve Months Ended December 31,
SUMMARIZED INCOME STATEMENT DATA:
2023
2022
% Change
2023
2022
% Change
Net premiums earned
$
345,894
$
301,006
14.9
%
$
1,294,306
$
1,144,436
13.1
%
Net investment income
32,548
28,453
14.4
%
120,383
86,078
39.9
%
Net realized gains (losses)
5,760
(3,047)
NM
32,518
588,515
(94.5)
%
Net unrealized gains (losses) on equity securities
49,313
34,181
44.3
%
64,787
(121,037)
NM
Consolidated revenue
$
433,515
$
360,593
20.2
%
$
1,511,994
$
1,697,992
(11.0)
%
Loss and settlement expenses
146,424
125,849
16.3
%
604,413
514,376
17.5
%
Policy acquisition costs
111,242
97,753
13.8
%
418,325
369,632
13.2
%
Insurance operating expenses
28,381
23,418
21.2
%
98,383
82,212
19.7
%
Interest expense on debt
1,373
2,013
(31.8)
%
7,301
8,047
(9.3)
%
General corporate expenses
5,112
4,347
17.6
%
15,917
12,900
23.4
%
Total expenses
$
292,532
$
253,380
15.5
%
$
1,144,339
$
987,167
15.9
%
Equity in earnings of unconsolidated investees
2,441
6,792
(64.1)
%
9,610
9,853
(2.5)
%
Earnings before income taxes
$
143,424
$
114,005
25.8
%
$
377,265
$
720,678
(47.7)
%
Income tax expense
28,812
16,171
78.2
%
72,654
137,267
(47.1)
%
Net earnings
$
114,612
$
97,834
17.1
%
$
304,611
$
583,411
(47.8)
%
Other comprehensive earnings (loss), net of tax
101,621
15,490
556.0
%
62,773
(278,902)
NM
Comprehensive earnings
$
216,233
$
113,324
90.8
%
$
367,384
$
304,509
20.6
%
Operating earnings(1):
Net earnings
$
114,612
$
97,834
17.1
%
$
304,611
$
583,411
(47.8)
%
Less:
Net realized (gains) losses
(5,760)
3,047
NM
(32,518)
(588,515)
(94.5)
%
Income tax on realized gains (losses)
1,210
(646)
NM
6,829
124,415
(94.5)
%
Net unrealized (gains) losses on equity securities
(49,313)
(34,181)
44.3
%
(64,787)
121,037
NM
Income tax on unrealized gains (losses) on equity securities
10,355
7,178
44.3
%
13,605
(25,418)
NM
Equity in earnings of Maui Jim
—
(3,493)
(100.0)
%
—
(372)
(100.0)
%
Income tax on equity in earnings of Maui Jim
—
733
(100.0)
%
—
78
(100.0)
%
Operating earnings(2)
$
71,104
$
70,472
0.9
%
$
227,740
$
214,636
6.1
%
Return on Equity:
Net earnings
23.3
%
48.6
%
Comprehensive earnings
28.1
%
25.4
%
Per Share Data:
Diluted:
Weighted average shares outstanding (in 000's)
46,072
45,954
46,077
45,794
Net earnings per share(2)
$
2.49
$
2.13
16.9
%
$
6.61
$
12.74
(48.1)
%
Less:
Net realized (gains) losses
(0.13)
0.06
NM
(0.71)
(12.84)
(94.5)
%
Income tax on realized gains (losses)
0.03
(0.01)
NM
0.15
2.72
(94.5)
%
Net unrealized (gains) losses on equity securities
(1.07)
(0.74)
44.6
%
(1.41)
2.64
NM
Income tax on unrealized gains (losses) on equity securities
0.22
0.16
37.5
%
0.30
(0.56)
NM
Equity in earnings of Maui Jim
—
(0.08)
(100.0)
%
—
(0.01)
(100.0)
%
Income tax on equity in earnings of Maui Jim
—
0.01
(100.0)
%
—
—
—
%
Operating earnings per share(1)(2)
$
1.54
$
1.53
0.7
%
$
4.94
$
4.69
5.3
%
Comprehensive earnings per share
$
4.69
$
2.47
89.9
%
$
7.97
$
6.65
19.8
%
Cash dividends per share - ordinary
$
0.27
$
0.26
3.8
%
$
1.07
$
1.03
3.9
%
Cash dividends per share - special
2.00
7.00
(71.4)
%
2.00
7.00
(71.4)
%
Net cash flow provided by (used in) operations
$
122,065
$
(32,438)
NM
$
464,257
$
250,448
85.4
%
(1)
See discussion above: Non-GAAP and Performance Measures.
(2)
Equity in earnings of Maui Jim and the related taxes were excluded from operating earnings and operating earnings per share in 2022 due to the sale of RLI’s investment in Maui Jim in the third quarter of 2022.
NM = Not Meaningful
5
RLI CORP
2023 FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share amounts)
December 31,
December 31,
2023
2022
% Change
SUMMARIZED BALANCE SHEET DATA:
Fixed income, at fair value
$
2,855,849
$
2,666,950
7.1
%
(amortized cost - $3,054,391 at 12/31/23)
(amortized cost - $2,945,273 at 12/31/22)
Equity securities, at fair value
590,041
498,382
18.4
%
(cost - $354,022 at 12/31/23)
(cost - $328,019 at 12/31/22)
Short-term investments
134,923
36,229
272.4
%
Other invested assets
59,081
47,922
23.3
%
Cash and cash equivalents
36,424
22,818
59.6
%
Total investments and cash
$
3,676,318
$
3,272,301
12.3
%
Accrued investment income
24,062
21,259
13.2
%
Premiums and reinsurance balances receivable
221,206
189,501
16.7
%
Ceded unearned premiums
112,257
138,457
(18.9)
%
Reinsurance balances recoverable on unpaid losses
757,349
740,089
2.3
%
Deferred policy acquisition costs
146,566
127,859
14.6
%
Property and equipment
46,715
49,573
(5.8)
%
Investment in unconsolidated investees
56,966
58,275
(2.2)
%
Goodwill and intangibles
53,562
53,562
0.0
%
Income taxes - deferred
15,872
40,269
(60.6)
%
Other assets
69,348
75,923
(8.7)
%
Total assets
$
5,180,221
$
4,767,068
8.7
%
Unpaid losses and settlement expenses
$
2,446,025
$
2,315,637
5.6
%
Unearned premiums
892,326
785,085
13.7
%
Reinsurance balances payable
71,507
61,100
17.0
%
Funds held
101,446
101,144
0.3
%
Income taxes - current
3,757
—
NM
Debt
100,000
199,863
(50.0)
%
Accrued expenses
108,880
94,869
14.8
%
Other liabilities
42,766
32,029
33.5
%
Total liabilities
$
3,766,707
$
3,589,727
4.9
%
Shareholders' equity
1,413,514
1,177,341
20.1
%
Total liabilities & shareholders' equity
$
5,180,221
$
4,767,068
8.7
%
OTHER DATA:
Common shares outstanding (in 000's)
45,640
45,470
Book value per share
$
30.97
$
25.89
19.6
%
Closing stock price per share
$
133.12
$
131.27
1.4
%
Statutory surplus
$
1,520,135
$
1,437,324
5.8
%
6
RLI CORP
2023 FINANCIAL HIGHLIGHTS
UNDERWRITING SEGMENT DATA
(Unaudited)
(Dollars in thousands, except per share amounts)
Three Months Ended December 31,
GAAP
GAAP
GAAP
GAAP
Casualty
Ratios
Property
Ratios
Surety
Ratios
Total
Ratios
2023
Gross premiums written
$
238,467
$
158,047
$
37,846
$
434,360
Net premiums written
191,626
104,154
35,117
330,897
Net premiums earned
195,962
115,934
33,998
345,894
Net loss & settlement expenses
121,399
62.0
%
22,554
19.5
%
2,471
7.3
%
146,424
42.3
%
Net operating expenses
72,562
37.0
%
40,653
35.0
%
26,408
77.6
%
139,623
40.4
%
Underwriting income(1)
$
2,001
99.0
%
$
52,727
54.5
%
$
5,119
84.9
%
$
59,847
82.7
%
2022
Gross premiums written
$
221,729
$
127,932
$
34,127
$
383,788
Net premiums written
175,132
91,332
32,031
298,495
Net premiums earned
183,338
84,912
32,756
301,006
Net loss & settlement expenses
102,623
56.0
%
20,558
24.2
%
2,668
8.1
%
125,849
41.8
%
Net operating expenses
67,344
36.7
%
32,105
37.8
%
21,722
66.4
%
121,171
40.3
%
Underwriting income(1)
$
13,371
92.7
%
$
32,249
62.0
%
$
8,366
74.5
%
$
53,986
82.1
%
Twelve Months Ended December 31,
GAAP
GAAP
GAAP
GAAP
Casualty
Ratios
Property
Ratios
Surety
Ratios
Total
Ratios
2023
Gross premiums written
$
961,665
$
697,372
$
147,623
$
1,806,660
Net premiums written
788,982
500,057
138,708
1,427,747
Net premiums earned
758,346
401,530
134,430
1,294,306
Net loss & settlement expenses
418,032
55.1
%
172,062
42.9
%
14,319
10.7
%
604,413
46.7
%
Net operating expenses
280,835
37.1
%
143,152
35.6
%
92,721
68.9
%
516,708
39.9
%
Underwriting income(1)
$
59,479
92.2
%
$
86,316
78.5
%
$
27,390
79.6
%
$
173,185
86.6
%
2022
Gross premiums written
$
926,231
$
499,461
$
139,794
$
1,565,486
Net premiums written
744,607
364,644
132,285
1,241,536
Net premiums earned
711,832
307,886
124,718
1,144,436
Net loss & settlement expenses
381,436
53.6
%
120,745
39.2
%
12,195
9.8
%
514,376
44.9
%
Net operating expenses
256,607
36.0
%
114,619
37.2
%
80,618
64.6
%
451,844
39.5
%
Underwriting income(1)
$
73,789
89.6
%
$
72,522
76.4
%
$
31,905
74.4
%
$
178,216
84.4
%
(1)
See discussion above: Non-GAAP and Performance Measures.
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.