Form 8-K

8-K — LINCOLN EDUCATIONAL SERVICES CORP

Accession: 0001140361-26-020531

Filed: 2026-05-11

Period: 2026-05-11

CIK: 0001286613

SIC: 8200 (SERVICES-EDUCATIONAL SERVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ef20072995_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ef20072995_ex99-1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ef20072995_8k.htm · Sequence: 1

false000128661300012866132026-05-112026-05-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): May 11, 2026

LINCOLN EDUCATIONAL SERVICES CORPORATION

(Exact Name of Registrant as Specified in Charter)

New Jersey

000-51371

57-1150621

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

14 Sylvan Way Suite A, Parsippany, NJ 07054

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (973) 736-9340

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 Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which

registered

Common Stock No Par Value

LINC

NASDAQ

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 May 11, 2026, Lincoln Educational Services Corporation. (the “Company”) issued a press release announcing financial results for its first quarter

ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated in this Item 2.02 by reference.

The information contained under this Item 2.02 in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed

to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Furthermore, the information contained under this Item 2.02 in this Current Report on Form 8-K,

including Exhibit 99.1, shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated

therein by reference. The furnishing of the information under this Item 2.02 in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information contained under this Item 2.02 in this

Current Report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

99.1

Press release of Lincoln Educational Services Corporation dated May 11, 2026

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.

LINCOLN EDUCATIONAL SERVICES CORPORATION

Date: May 11, 2026

By:

/s/ Brian K. Meyers

Name:

Brian K. Meyers

Title:

Executive Vice President, Chief Financial Officer

and Treasurer

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ef20072995_ex99-1.htm · Sequence: 2

Exhibit 99.1

Lincoln Educational Services Reports Strong First Quarter Financial Results, Raises Guidance for Full-Year 2026

Conference Call Today, at 10:00 a.m. Eastern Standard Time

PARSIPPANY, N.J., May 11, 2026– Lincoln Educational Services Corporation (Nasdaq: LINC) today reported continued financial and operating momentum during the first quarter ended March 31, 2026, as well as recent business developments.

First Quarter 2026 Financial and Operational Highlights

(Quarter ended March 31, 2026, compared to quarter ended March 31, 2025, unless otherwise noted)

•

Revenue increased 22.5% to $144.0 million from $117.5 million

•

Net income more than doubled to $4.4 million, or $0.14 per share, compared to $1.9 million, or $0.06 per share

•

Adjusted EBITDA1 increased 85% to $15.5 million from $8.4 million

•

Net cash from operating activities improved $13 million to $4.6 million generated versus $8.4 million used last year

•

Total liquidity as of March 31, 2026 of approximately $72 million

•

Student starts grew by 19.5% to 5,500, an increase of approximately 900

•

Student ending-population rose by 17.6% to 18,702, an increase of nearly 2,800

•

2026 financial guidance raised to reflect strong first quarter results and current trends

1 For additional information, see (1) Reconciliation of non-GAAP financial measures below

A complete listing of Lincoln's non-GAAP measures, along with descriptions and reconciliations to the corresponding GAAP measures, is included at the end of this release.

Recent Business Developments

•

In April, Lincoln amended its credit agreement, increasing its aggregate principal amount of its revolving credit facility to $125 million. The additional $65 million in available liquidity enhances Lincoln’s

financial flexibility to execute its growth initiatives and meet its long-term operating objectives.

“The first quarter financial and operating results illustrate the substantial progress made towards achieving our objective of providing the best education

and training for in-demand careers while generating consistent, increasing returns to our shareholders,” said Scott Shaw, CEO and President. “In a constantly evolving market, we are continuing to experience high employer demand for our graduates and

increasing interest in our programs as awareness of the rewarding long-term career opportunities created through skilled trades continues to expand. Our carefully executed strategies of new campus development and program replication, combined with

continued growth from our core operations have combined to create a strong start to 2026.

“The 19.5% student start growth during the first quarter exceeded our expectations, which has led to increasing our student start growth guidance for the full year to

between 10% and 14%. We have now grown starts for fourteen consecutive quarters, with about half of the increase attributed to organic growth, comprised of our campuses and programs operating over one year. This performance, combined with our

graduation rate and placement rates, attests to our expanding leadership in the market.

“The relocations and program expansions at our Nashville, Tennessee and Levittown, Philadelphia campuses, as well as our new campus in Houston, Texas, are all meeting our

expectations. Moreover, the development of our new Hicksville, New York and Rowlett, Texas campuses remain on schedule to begin enrollment during the fourth quarter of this year and first quarter of next year, respectively. At the same time, we are

actively negotiating two additional greenfield locations to expand our best-in-class campuses and presence into other under-served U.S. markets.

“We also are investing in people and processes to continuously drive superior outcomes, which is positively impacting our student retention rate. Additionally, we continue

to develop our corporate partnerships, expand our high school initiatives, as well as execute strategies to attract and build our veteran student population. These efforts are designed to begin yielding meaningful contributions as we turn into 2027.

“In addition to our overall growth across all key metrics, the first quarter bottom-line outperformance is largely attributed to increased operating efficiencies throughout

our organization. We also generated cash from our operating activities during the first quarter, which has typically been a negative cash flow period for the company. These results, combined with our outlook for the remainder of the

year, enable us to raise our 2026 guidance. This strong start to the year and our increased credit facility are important first strides as we advance towards our recently announced 2030 objectives of $850 million in revenue and $150 million of

EBITDA, while continuing to build on our leadership position in providing superior education for in-demand careers.”

2026 FIRST QUARTER FINANCIAL RESULTS

(Quarter ended March 31, 2026, compared to quarter ended March 31, 2025)

•

Revenue increased by $26.5 million, or 22.5% to $144.0 million, primarily due to an 18.2% increase in average student population driven by 19.5% start growth, with the remainder attributable to tuition increases.

•

Educational services and facilities expense increased by $11.0 million, or 23.2% to $58.4 million. This includes a $2.9 million increase in costs related to the new campuses in Houston, Hicksville, and

Rowlett. The increase was primarily driven by costs associated with a larger student population. The remaining increase was attributable to $3.9 million higher depreciation

expense, largely resulting from recent capital investments to support our growth initiatives.

•

Selling, general and administrative expense increased by $12.2 million, or 18.3% to $79.2 million. This includes a $1.9 million increase in costs related to new campuses in Houston, Hicksville, and Rowlett. The

increase was primarily driven by $5.1 million or 17.7% higher administrative expenses primarily driven by costs associated with enrollment growth, due to increased student population, and growth initiatives. Sales and marketing expense

increased by $4.2 million, or 21.3%, including $1.2 million related to the Company's new campuses, resulting from planned investments and the timing of the marketing activities. Student services expense increased $1.1 million, or 17.9%,

driven by continued investments in staffing and support infrastructure to serve a growing student base.

Corporate and Other

This category includes unallocated expenses incurred on behalf of the entire Company. Corporate and other expenses were $21.3 million for the three months ended March 31,

2026, compared to $18.3 million in the prior year comparable period. The increase was primarily driven by higher salaries and benefits due to workforce expansion to support a larger student population and to execute the Company's growth initiatives.

FULL YEAR 2026 OUTLOOK

Based on the 2026 first quarter operating and financial results, as well as the outlook for

the remainder of the year, the Company is raising its guidance for revenue, adjusted EBITDA, net income and student starts as follows:

(In millions, except for diluted EPS and student starts)

FY 2026 Guidance

Updated

FY 2026 Guidance

Revenue

580 - $590

590 - $600

Adjusted EBITDA1

72 - $76

76 - $80

Net income

20 - $23

23 - $26

Diluted EPS

0.64 - $0.74

0.74 - $0.83

Capital expenditures

70 - $75

Student starts

8% - 13

10% - 14

The guidance in this release includes references to non-GAAP operating measures. A reconciliation to

the midpoint of our guidance can be reviewed below in the non-GAAP operating measures at the end of this release. Our 2026 adjusted EBITDA guidance includes approximately $10.0 million in losses related to new campus openings and strategic growth initiatives.

CONFERENCE CALL INFO

Lincoln will host a conference call today at 10:00 a.m. Eastern Standard Time to discuss results. To access the live webcast of

the conference call, please go to the Investor Overview section of Lincoln’s website at http://www.lincolntech.edu. Participants may also register via teleconference at: Q1 2026 Lincoln Educational Services Earnings Conference Call.

Once registration is completed, participants will be provided with a dial-in number containing a personalized PIN to access the call. Participants are encouraged to register at least 15 minutes prior to the start of the call.

An archived version of the webcast will be accessible for 90 days at http://www.lincolntech.edu.

ABOUT LINCOLN EDUCATIONAL SERVICES CORPORATION

Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education helping to provide solutions to America’s skills

gap. Lincoln offers career-oriented programs to recent high school graduates and working adults in four principal areas of study: skilled trades, automotive, health sciences and information technology. Lincoln has provided the workforce with skilled

technicians since its inception in 1946 and currently operates 22 campuses in 12 states under the brands Lincoln Technical Institute, Lincoln College of Technology and Nashville Auto Diesel College. The Company was incorporated in New Jersey in 2003

as the successor-in-interest to various acquired schools including Lincoln Technical Institute, Inc. which opened its first campus in Newark, New Jersey in 1946. For more information, please go to www.lincolntech.edu.

FORWARD-LOOKING STATEMENTS

Statements in this press release and in oral statements made from time to time by representatives of Lincoln Educational Services Corporation that

are not historical facts, including those made in a conference call, may be “forward-looking statements” as that term is defined in the federal securities laws. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,”

“estimate,” “goal,” “target” and “continue,” and similar expressions and their opposite are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not

necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. The Company cautions you that these statements concern current expectations about the Company’s future performance or events

and are subject to a number of uncertainties, risks, and other influences, many of which are beyond the Company’s control, that may affect the accuracy of the statements or the prospects upon which the statements are based including, without

limitation, risks associated with our ability to comply with the extensive federal and state regulatory framework applicable to the for-profit education industry such as the 90/10 rule, prescribed cohort default rates, the effect of current and

future Title IV Program regulations arising out of negotiated rulemakings, including any potential reductions in funding or restrictions on the use of funds received through Title IV Programs and financial responsibility and administrative capability

standards; the effect of future legislative or regulatory initiatives related to veterans' benefit programs; our ability to obtain timely regulatory approvals in connection with acquisitions of additional schools and the related risks associated with

integration of acquired schools; risks associated with the opening of new campuses; our ability to execute our growth strategies including updating and expanding the content of existing programs and developing new programs for our students in a

timely and cost-effective manner while maintaining positive student outcomes; our ability to effectively compete within our industry; impacts related to epidemics or pandemics; risks associated with cybersecurity; general economic conditions; and

other factors discussed in the “Risk Factors” section of our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and

Lincoln undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise after the date hereof.

LINCOLN EDUCATIONAL SERVICES CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

(Unaudited)

March 31,

December 31,

2026

2025

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

16,690

28,519

Accounts receivable, less allowance of $44,971 and $43,975 at March 31, 2026 and December 31, 2025, respectively

41,734

36,929

Inventories

2,488

3,986

Income tax receivable

501

1,599

Tenant allowance receivable

8,127

Prepaid and other assets

6,863

7,872

Total current assets

76,403

87,032

PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $154,578 and $148,067 at March 31, 2026 and December

31, 2025, respectively

179,352

171,603

OTHER ASSETS:

Noncurrent receivables, less allowance of $25,706 and $26,371 at March 31, 2026 and December 31, 2025, respectively

20,711

21,248

Deferred finance charges

267

302

Deferred income taxes, net

21,668

Operating lease right-of-use assets

151,209

154,223

Finance lease right-of-use assets

24,657

25,075

Goodwill

10,742

Other assets, net

1,725

1,271

Total other assets

230,979

234,529

TOTAL ASSETS

486,734

493,164

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Unearned tuition

39,287

44,159

Accounts payable

28,253

27,023

Accrued expenses

13,816

18,430

Current portion of operating lease liabilities

10,445

10,634

Current portion of finance lease liabilities

498

463

Total current liabilities

92,299

100,709

NONCURRENT LIABILITIES:

Long-term portion of operating lease liabilities

160,089

162,113

Long-term portion of finance lease liabilities

30,518

30,654

Long-term debt

5,000

Total liabilities

287,906

293,476

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY:

Common stock, no par value - authorized 100,000,000 shares at March 31, 2026 and December 31, 2025, issued and outstanding 31,697,253 shares at March

31, 2026 and 31,623,795 shares at December 31, 2025

48,181

Additional paid-in capital

47,123

52,339

Retained earnings

103,524

99,168

Total stockholders' equity

198,828

199,688

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

486,734

493,164

LINCOLN EDUCATIONAL SERVICES CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

Three Months ended

March 31,

2026

2025

REVENUE

143,957

117,506

COSTS AND EXPENSES:

Educational services and facilities

58,392

47,409

Selling, general and administrative

79,152

66,904

Loss (gain) on sale of assets

(220

)

Total costs and expenses

137,550

114,093

OPERATING INCOME

6,407

3,413

OTHER:

Interest income

114

Interest expense

(837

)

(701

)

INCOME BEFORE INCOME TAXES

5,600

2,826

PROVISION FOR INCOME TAXES

1,244

882

NET INCOME

4,356

1,944

Basic

Net income per common share

0.14

0.06

Diluted

Net income per common share

0.14

0.06

Weighted average number of common shares outstanding:

Basic

31,130

30,809

Diluted

31,332

31,074

LINCOLN EDUCATIONAL SERVICES CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three Months ended

March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

4,356

1,944

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Depreciation and amortization

7,214

3,345

Finance lease amortization

418

Amortization of deferred finance charges

Deferred income taxes

547

Loss (gain) on sale of assets

(220

)

Fixed asset donations

(93

)

(171

)

Provision for credit losses

13,683

11,835

Stock-based compensation expense

1,444

1,205

(Increase) decrease in assets:

Accounts receivable

(17,951

)

(13,289

)

Inventories

1,498

659

Prepaid income taxes

1,098

Prepaid expenses and current assets

995

(3,243

)

Other assets, net

725

1,230

Increase (decrease) in liabilities:

Accounts payable

1,002

(8,070

)

Accrued expenses

(4,614

)

(3,137

)

Unearned tuition

(4,872

)

(1,785

)

Income taxes payable

225

Other liabilities

(378

)

Total adjustments

210

(10,322

)

Net cash provided by (used in) operating activities

4,566

(8,378

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures

(14,628

)

(19,889

)

Proceeds from sale of property and equipment

)

249

Net cash used in investing activities

(14,634

)

(19,640

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from borrowings

33,000

Payments on borrowings

(28,000

)

Payment of deferred finance fees

(75

)

Finance lease principal paid

(101

)

(88

)

Tenant allowance finance leases

1,196

Net share settlement for equity-based compensation

(6,660

)

(3,633

)

Net cash used in financing activities

(1,761

)

(2,600

)

NET DECREASE IN CASH AND CASH EQUIVALENTS

(11,829

)

(30,618

)

CASH AND CASH EQUIVALENTS —Beginning of period

28,519

59,273

CASH AND CASH EQUIVALENTS—End of period

16,690

28,655

(1) RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting

principles (“GAAP”), the Company believes it is useful to present non-GAAP financial measures that exclude certain significant items as a means to understand the performance of its business, and to enable comparability of operating performance

between periods. Additionally, the Company’s management regularly uses our non-GAAP financial measures to make operating decisions, for planning and forecasting purposes. EBITDA, adjusted EBITDA, and total liquidity are measures not recognized in

financial statements presented in accordance with GAAP.

•

We define EBITDA as income (loss) before net interest expense (interest income), provision (benefit) for income taxes, depreciation and amortization.

•

We define adjusted EBITDA as EBITDA plus stock-based compensation expense and adjustments for items not considered part of the Company’s normal recurring operations.

•

We define total liquidity as the Company’s cash and cash equivalents and available borrowings under our credit facility.

EBITDA, adjusted EBITDA, and total liquidity are presented because we believe they are useful indicators of the Company’s performance and ability to

make strategic investments and meet capital expenditures and debt service requirements. However, they are not intended to represent cash flows from operations as defined by GAAP and should not be used as an alternative to net income (loss) as

indicators of operating performance or cash flow as a measure of liquidity. EBITDA, adjusted EBITDA, and total liquidity are not necessarily comparable to similarly titled measures used by other companies.

Adjusted EBITDA excludes non-cash stock-based compensation and one-time, non-recurring items. Historically Adjusted EBITDA has excluded pre-opening costs, as well as net operating losses from new campuses, for up to four quarters after the campus

opening, or until the campus becomes profitable, whichever occurs first. Beginning in fiscal year 2026, the Company no longer adjusts adjusted EBITDA for pre-opening costs and net operating losses from new campuses and program expansions. Going

forward, adjusted EBITDA will reflect only the add-back of non-cash stock-based compensation and other non-recurring items, if any. Prior period amounts in this release have been recast to conform to the current methodology.

The following is a reconciliation of net income (loss) to EBITDA and adjusted EBITDA, as well as a presentation of total liquidity (in thousands):

Three Months Ended March 31,

(Unaudited)

Consolidated

Campus Operations

Corporate

2026

2025

2026

2025

2026

2025

Net income (loss)

4,356

1,944

27,155

21,077

(22,799

)

(19,133

)

Interest expense (income), net

807

587

575

595

232

)

Provision for income taxes

1,244

882

1,244

882

Depreciation and amortization

7,632

3,763

7,500

3,600

132

163

EBITDA

14,039

7,176

35,230

25,272

(21,191

)

(18,096

)

Stock-based compensation expense

1,444

1,205

1,444

1,205

Adjusted EBITDA

15,483

8,381

35,230

25,272

(19,747

)

(16,891

)

As of

March 31,

2026

Cash and cash equivalents

16,690

Credit facility

55,000

Total Liquidity

71,690

*As of March 31, 2026, $5.0 million was outstanding under the revolving credit facility.

The table below presents operating income (loss) (in thousands) for the three months ended March 31, 2026:

2026

2025

% Change

Operating Income (loss):

Campus Operations

27,731

21,671

28.0

Corporate

(21,324

)

(18,258

)

(16.8

Total

6,407

3,413

87.7

Information included in the table below provides student starts and population with a breakdown by Transportation and Skilled Trade programs and Healthcare and Other

Professions programs.

Population by Program:

Three Months Ended March 31,

2026

2025

% Change

Starts:

Transportation and Skilled Trades

4,397

3,551

23.8

Healthcare and Other Professions

1,112

1,059

5.0

Total

5,509

4,610

19.5

Average Population:

Transportation and Skilled Trades

14,695

11,695

25.7

Healthcare and Other Professions

3,590

3,774

(4.9

Total

18,285

15,469

18.2

End of Period Population:

Transportation and Skilled Trades

15,032

12,130

23.9

Healthcare and Other Professions

3,670

3,774

(2.8

Total

18,702

15,904

17.6

The reconciliations provided below represent management’s projections of various components included in our outlook for the full year 2026. These calculations are for

illustrative purposes and will be reviewed as the year progresses to reflect actual results, our outlook and continued relevance of specific items. Any revisions or modifications, if necessary, will be disclosed in future announcements of 2026

quarterly results. Adjusted EBITDA and net income have been reconciled to the midpoint of our guidance.

Reconciliation of Net Income to Adjusted EBITDA - 2026 Guidance

(Reconciled to the Mid-Point of 2026 Guidance)

Adjusted

EBITDA

Net Income

24,500

Interest expense, net

4,000

Provision for taxes

10,300

Depreciation and amortization1

33,000

EBITDA

71,800

Stock-based compensation expense

6,200

Total

78,000

2026 Guidance Range

76,000 - $80,000

LINCOLN EDUCATIONAL SERVICES CORPORATION

Brian Meyers, Chief Financial Officer

973-736-9340

EVC GROUP LLC

Investor Relations: Michael Polyviou, mpolyviou@evcgroup.com, 732-933-2754

Media Relations: Tom Gibson, 201-476-0322

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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.

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No definition available.

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dei_DocumentPeriodEndDate

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xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

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'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the City or Town

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the state or province.

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No definition available.

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Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

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Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityCentralIndexKey

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

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Data Type:

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duration

- Definition

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.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

Namespace Prefix:

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xbrli:normalizedStringItemType

Balance Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

dei_Security12bTitle

Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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