2016 Q4 Form 8-K Financial Statement

#000170160518000108 Filed on November 13, 2018

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $3.516B $3.024B $3.322B
YoY Change 3.59% -20.13% -16.28%
Cost Of Revenue $2.144B $494.0M $3.112B
YoY Change -31.76% -85.48% -13.91%
Gross Profit $793.0M $766.0M $661.0M
YoY Change 214.68% 100.0% 87.25%
Gross Profit Margin 22.55% 25.33% 19.9%
Selling, General & Admin $183.0M $475.0M $222.0M
YoY Change -33.94% 75.28% -28.39%
% of Gross Profit 23.08% 62.01% 33.59%
Research & Development $92.00M $87.00M $99.00M
YoY Change -13.21% -24.35% -20.16%
% of Gross Profit 11.6% 11.36% 14.98%
Depreciation & Amortization $727.0M $67.00M $305.0M
YoY Change 74.76% -84.49% -29.72%
% of Gross Profit 91.68% 8.75% 46.14%
Operating Expenses $275.0M $562.0M $321.0M
YoY Change -28.2% 45.6% -26.04%
Operating Profit $518.0M $176.0M $340.0M
YoY Change -495.42% -5966.67% -519.75%
Interest Expense -$36.00M -$39.00M -$48.00M
YoY Change -34.55% -29.09% -9.43%
% of Operating Profit -6.95% -22.16% -14.12%
Other Income/Expense, Net $6.000M
YoY Change
Pretax Income -$306.0M $161.0M -$760.0M
YoY Change -78.63% -203.21% 285.79%
Income Tax $107.0M $70.00M $152.0M
% Of Pretax Income 43.48%
Net Earnings $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Net Earnings / Revenue 0.0% 0.0% 0.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$981.2K -$997.7K -$2.080M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.572B $3.736B $3.910B
YoY Change 96.73% 82.87% 98.18%
Cash & Equivalents $981.0M $998.0M $3.910B
Short-Term Investments
Other Short-Term Assets $633.0M $1.093B $1.235B
YoY Change -21.85% 43.25% 65.55%
Inventory $3.166B $1.966B $1.992B
Prepaid Expenses
Receivables $2.251B $2.207B $2.262B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.344B $9.002B $9.399B
YoY Change -20.76% -6.09% -5.42%
LONG-TERM ASSETS
Property, Plant & Equipment $2.325B $4.874B $5.229B
YoY Change -8.97% -39.27% -37.5%
Goodwill $6.680B
YoY Change -2.72%
Intangibles $2.449B
YoY Change
Long-Term Investments
YoY Change
Other Assets $573.0M
YoY Change
Total Long-Term Assets $14.12B $10.49B $10.92B
YoY Change -4.66% -33.74% -32.09%
TOTAL ASSETS
Total Short-Term Assets $7.344B $9.002B $9.399B
Total Long-Term Assets $14.12B $10.49B $10.92B
Total Assets $21.47B $19.49B $20.32B
YoY Change -10.86% -23.31% -21.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.896B $951.0M $1.023B
YoY Change 34.56% -35.74% -42.69%
Accrued Expenses $1.067B $1.015B $1.001B
YoY Change -8.02% -17.61% -10.55%
Deferred Revenue $2.038B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $132.0M $127.0M $139.0M
YoY Change -12.58% -18.59% 0.0%
Total Short-Term Liabilities $5.324B $2.224B $2.338B
YoY Change 91.86% -23.78% -24.92%
LONG-TERM LIABILITIES
Long-Term Debt $2.886B $2.895B $2.887B
YoY Change -25.81% -25.69% -26.05%
Other Long-Term Liabilities $425.0M $753.0M $776.0M
YoY Change -45.58% -2.59% -2.14%
Total Long-Term Liabilities $425.0M $3.648B $3.663B
YoY Change -90.9% -21.87% -22.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.324B $2.224B $2.338B
Total Long-Term Liabilities $425.0M $3.648B $3.663B
Total Liabilities $0.00 $6.332B $6.436B
YoY Change -100.0% -20.87% -22.65%
SHAREHOLDERS EQUITY
Retained Earnings $0.00
YoY Change
Common Stock $1.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.11B $13.16B $13.88B
YoY Change
Total Liabilities & Shareholders Equity $21.47B $19.49B $20.32B
YoY Change -10.86% -23.31% -21.9%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Depreciation, Depletion And Amortization $727.0M $67.00M $305.0M
YoY Change 74.76% -84.49% -29.72%
Cash From Operating Activities $4.424B -$3.673B $3.577B
YoY Change 733.15% -958.18% 515.66%
INVESTING ACTIVITIES
Capital Expenditures -$2.000M -$174.0M -$70.00M
YoY Change -99.07% -2.25% -72.87%
Acquisitions
YoY Change
Other Investing Activities $551.0M -$83.00M -$80.00M
YoY Change 2404.55% -31.97% -197.56%
Cash From Investing Activities $549.0M -$257.0M -$150.0M
YoY Change -385.94% -14.33% -14.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.414B 2.034B -1.710B
YoY Change 5513.95% -4011.54% 4070.73%
NET CHANGE
Cash From Operating Activities 4.424B -3.673B 3.577B
Cash From Investing Activities 549.0M -257.0M -150.0M
Cash From Financing Activities -2.414B 2.034B -1.710B
Net Change In Cash 2.559B -1.896B 1.717B
YoY Change 764.53% -2594.74% 371.7%
FREE CASH FLOW
Cash From Operating Activities $4.424B -$3.673B $3.577B
Capital Expenditures -$2.000M -$174.0M -$70.00M
Free Cash Flow $4.426B -$3.499B $3.647B
YoY Change 494.09% -677.39% 334.68%

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202000000 USD
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51000000 USD
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CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
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15460000 USD
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550000000 USD
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150000000 USD
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55000000 USD
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1000000 USD
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186000000 USD
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62000000 USD
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0 USD
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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304000000 USD
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0.045
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2115000000 USD
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432000000 USD
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293000000 USD
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195000000 USD
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CY2017 us-gaap Goodwill Impairment Loss
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358000000 USD
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358000000 USD
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45000000 USD
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28000000 USD
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169000000 USD
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1000000 USD
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125000000 USD
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0 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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0 USD
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21000000 USD
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2000000 USD
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19000000 USD
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171000000 USD
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317000000 USD
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230000000 USD
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1190000000 USD
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88000000 USD
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17000000 USD
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360000000 USD
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200000000 USD
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360000000 USD
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540000000 USD
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31000000 USD
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us-gaap Noncontrolling Interest Increase From Business Combination
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0 USD
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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93000000 USD
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120 country
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4 segment
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457000000 USD
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2073000000 USD
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4000000 USD
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12000000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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123000000 USD
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57000000 USD
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14000000 USD
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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0 USD
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46000000 USD
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2038000000 USD
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425000000 USD
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889000000 USD
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37000000 USD
CY2017Q4 us-gaap Other Long Term Debt
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22000000 USD
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167000000 USD
CY2017Q4 us-gaap Other Minority Interests
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140000000 USD
CY2016 us-gaap Other Nonoperating Income Expense
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3000000 USD
CY2017 us-gaap Other Nonoperating Income Expense
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0 USD
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0 USD
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155000000 USD
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665000000 USD
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0 USD
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251000000 USD
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50000000 shares
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0 USD
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ProceedsFromContributionsFromParent
7400000000 USD
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0 USD
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20000000 USD
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0 USD
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CY2016 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016 us-gaap Proceeds From Repayments Of Debt
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-156000000 USD
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CY2016 us-gaap Proceeds From Sale Of Productive Assets
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20000000 USD
CY2017 us-gaap Proceeds From Sale Of Productive Assets
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172000000 USD
us-gaap Profit Loss
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46000000 USD
us-gaap Profit Loss
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-437000000 USD
CY2016 us-gaap Profit Loss
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185000000 USD
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-391000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
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4390000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9776000000 USD
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PropertyPlantAndEquipmentNet
2325000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6959000000 USD
CY2017Q4 us-gaap Purchase Obligation Due After Fifth Year
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13000000 USD
CY2017Q4 us-gaap Purchase Obligation Due In Fifth Year
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23000000 USD
CY2017Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
36000000 USD
CY2017Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
962000000 USD
CY2017Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
45000000 USD
CY2017Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
42000000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2564000000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
6015000000 USD
CY2016 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2017 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
44000000 USD
CY2017 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
177000000 USD
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
352000000 USD
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
501000000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
752000000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1190000000 USD
CY2017Q4 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
150000000 USD
CY2016 us-gaap Restructuring Charges
RestructuringCharges
293000000 USD
CY2017 us-gaap Restructuring Charges
RestructuringCharges
385000000 USD
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RestructuringSettlementAndImpairmentProvisions
147000000 USD
CY2016Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
228000000 USD
CY2016Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
77000000 USD
CY2016Q4 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
64000000 USD
CY2016 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
516000000 USD
CY2017Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
42000000 USD
CY2017Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
59000000 USD
CY2017Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
191000000 USD
CY2017Q4 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
119000000 USD
CY2017 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
412000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-103000000 USD
CY2016Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3361000000 USD
CY2016Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3210000000 USD
CY2016Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3073000000 USD
CY2016Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3438000000 USD
CY2016 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
13082000000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3064000000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3015000000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5301000000 USD
CY2017Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5799000000 USD
CY2017 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
17179000000 USD
CY2017Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
21000000000 USD
CY2017 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P2Y
CY2017 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P5Y
CY2017 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P15Y
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1926000000 USD
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2535000000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.012
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.364
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.021
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.32
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20000000 USD
CY2017Q4 us-gaap Share Price
SharePrice
31.64
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y10M24D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M18D
CY2016 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
-6000000 USD
CY2017 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
97000000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
24874000000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
501000000 USD
CY2016 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
29000000 USD
CY2017 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
37000000 USD
CY2017Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2000000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
100000000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
74000000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
164000000 USD
CY2016 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
49000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
14113000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
14277000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14545000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14280000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
38410000000 USD
CY2016Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1509000000 USD
CY2017Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2044000000 USD
CY2017Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
8000000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
100000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
94000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
395000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
32000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
14000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
53000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
326000000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
13000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
19000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
95000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
5000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
11000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
522000000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2397000000 USD
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We grant credit to our customers who primarily operate in the oil and natural gas industry. Although this concentration affects our overall exposure to credit risk, our current receivables are spread over a diverse group of customers across many countries, which mitigates this risk. We perform periodic credit evaluations of our customers' financial conditions, including monitoring our customers' payment history and current credit worthiness to manage this risk. We do not generally require collateral in support of our current receivables, but we may require payment in advance or security in the form of a letter of credit or a bank guarantee.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of any contingent assets or liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information that we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty, and accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. While we believe that the estimates and assumptions used in the preparation of the consolidated and combined financial statements are appropriate, actual results could differ from those estimates. Estimates are used for, but are not limited to, determining the following: allowance for doubtful accounts and inventory valuation reserves; recoverability of long-lived assets, including revenue recognition on long term contracts, valuation of goodwill; useful lives used in depreciation and amortization; income taxes and related valuation allowances; accruals for contingencies; actuarial assumptions to determine costs and liabilities related to employee benefit plans; stock-based compensation expense; valuation of derivatives and the fair value of assets acquired and liabilities assumed in acquisitions; and expense allocations for certain corporate functions and shared services provided by GE.</font></div></div>

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