2017 Form 10-K Financial Statement

#000105350718000006 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016 Q3
Revenue $6.664B $1.540B $1.515B
YoY Change 15.18% 20.27% 22.37%
Cost Of Revenue $34.60M $488.0M $5.712M
YoY Change 24.91% 36.92% -38.63%
Gross Profit $6.629B $1.052B $1.509B
YoY Change 15.13% 13.85% 22.83%
Gross Profit Margin 99.48% 68.31% 99.62%
Selling, General & Admin $637.0M $138.3M $131.5M
YoY Change 17.22% -3.56% 14.55%
% of Gross Profit 9.61% 13.15% 8.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $835.5M $388.2M $398.0M
YoY Change 10.09% 10.19% 16.68%
% of Gross Profit 12.6% 36.92% 26.37%
Operating Expenses $637.0M $562.2M $131.5M
YoY Change 17.22% 7.8% 14.55%
Operating Profit $1.998B $489.3M $479.1M
YoY Change 7.85% 21.68% 19.5%
Interest Expense $749.6M -$201.0M $190.2M
YoY Change -206.48% -37.48% 26.95%
% of Operating Profit 37.51% -41.08% 39.69%
Other Income/Expense, Net -$742.3M $5.100M -$193.3M
YoY Change 2.09% -96.96% -7.49%
Pretax Income $971.2M $293.7M $285.8M
YoY Change 10.04% 18.67% 48.86%
Income Tax $30.70M $60.80M $22.04M
% Of Pretax Income 3.16% 20.7% 7.71%
Net Earnings $1.239B $229.2M $264.5M
YoY Change 29.54% -1.5% 156.8%
Net Earnings / Revenue 18.59% 14.89% 17.46%
Basic Earnings Per Share $2.69 $0.48 $0.56
Diluted Earnings Per Share $2.67 $0.47 $0.55
COMMON SHARES
Basic Shares Outstanding 428.2M shares 425.7M shares 425.5M shares
Diluted Shares Outstanding 431.7M shares 429.9M shares

Balance Sheet

Concept 2017 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $803.0M $791.0M $530.0M
YoY Change 1.52% 146.42% 75.5%
Cash & Equivalents $802.0M $787.2M $530.4M
Short-Term Investments $1.000M $4.000M
Other Short-Term Assets $550.0M $501.0M $482.0M
YoY Change 9.78% 30.47% 26.84%
Inventory
Prepaid Expenses $36.30M $54.58M
Receivables $514.0M $308.4M $273.9M
Other Receivables $172.0M $90.00M $84.00M
Total Short-Term Assets $2.038B $1.690B $1.371B
YoY Change 20.59% 69.59% 45.77%
LONG-TERM ASSETS
Property, Plant & Equipment $11.10B $10.52B $10.45B
YoY Change 5.55% 6.6% 6.59%
Goodwill $5.071B $4.997B
YoY Change 23.92% 23.23%
Intangibles $11.27B $11.56B
YoY Change 14.6% 15.44%
Long-Term Investments
YoY Change
Other Assets $1.703B $841.5M $813.9M
YoY Change 14.68% 14.82% 3.19%
Total Long-Term Assets $31.18B $29.19B $29.28B
YoY Change 6.81% 12.67% 12.69%
TOTAL ASSETS
Total Short-Term Assets $2.038B $1.690B $1.371B
Total Long-Term Assets $31.18B $29.19B $29.28B
Total Assets $33.21B $30.88B $30.66B
YoY Change 7.56% 14.77% 13.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.0M $118.7M $105.6M
YoY Change 20.17% 22.73% 5.99%
Accrued Expenses $945.0M $620.5M $572.0M
YoY Change 28.75% 20.16% -23.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $775.0M $238.8M $243.0M
YoY Change 224.27% 375.68% 429.95%
Total Short-Term Liabilities $2.512B $1.631B $1.520B
YoY Change 54.02% 35.94% 10.96%
LONG-TERM LIABILITIES
Long-Term Debt $19.43B $18.29B $18.44B
YoY Change 6.2% 7.18% 8.56%
Other Long-Term Liabilities $2.420B $1.143B $1.068B
YoY Change 14.8% 19.1% -1.09%
Total Long-Term Liabilities $21.85B $19.44B $19.50B
YoY Change 7.09% 7.82% 1706.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.512B $1.631B $1.520B
Total Long-Term Liabilities $21.85B $19.44B $19.50B
Total Liabilities $26.97B $22.81B $22.78B
YoY Change 11.85% 12.98% 12.54%
SHAREHOLDERS EQUITY
Retained Earnings -$1.077B -$1.031B
YoY Change 7.86% 3.49%
Common Stock $4.300M $4.284M
YoY Change 0.77% 0.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $207.7M $207.7M
YoY Change -0.02% 0.0%
Treasury Stock Shares 2.810M shares 2.810M shares
Shareholders Equity $6.242B $6.764B $6.707B
YoY Change
Total Liabilities & Shareholders Equity $33.21B $30.88B $30.66B
YoY Change 7.56% 14.77% 13.85%

Cashflow Statement

Concept 2017 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $1.239B $229.2M $264.5M
YoY Change 29.54% -1.5% 156.8%
Depreciation, Depletion And Amortization $835.5M $388.2M $398.0M
YoY Change 10.09% 10.19% 16.68%
Cash From Operating Activities $2.926B $723.3M $667.1M
YoY Change 8.29% 13.1% 31.55%
INVESTING ACTIVITIES
Capital Expenditures $803.6M -$207.3M -$155.8M
YoY Change 17.74% -1.66% -24.7%
Acquisitions $2.007B
YoY Change 42.21%
Other Investing Activities $5.000M -$108.8M -$87.00M
YoY Change -68.94% -66.7% -90.52%
Cash From Investing Activities -$2.801B -$316.1M -$242.8M
YoY Change 33.23% -41.18% -78.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $766.3M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$113.0M -126.0M -303.6M
YoY Change 13.8% 190.99% -147.27%
NET CHANGE
Cash From Operating Activities $2.926B 723.3M 667.1M
Cash From Investing Activities -$2.801B -316.1M -242.8M
Cash From Financing Activities -$113.0M -126.0M -303.6M
Net Change In Cash $18.40M 281.2M 120.7M
YoY Change -96.11% 378.23% 394.67%
FREE CASH FLOW
Cash From Operating Activities $2.926B $723.3M $667.1M
Capital Expenditures $803.6M -$207.3M -$155.8M
Free Cash Flow $2.122B $930.6M $822.9M
YoY Change 5.09% 9.44% 15.25%

Facts In Submission

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10100000 USD
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9100000 USD
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18400000 USD
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0.68
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0.70
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0.51
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2.69
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1.41
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0.58
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0.37
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0.55
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EarningsPerShareDiluted
0.47
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.98
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0.67
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0.80
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0.69
CY2017Q4 us-gaap Earnings Per Share Diluted
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0.51
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.67
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6700000 USD
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.19
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0.14
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0.02
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.02
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.00
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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3100000 USD
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830000000 USD
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144400000 USD
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3800000 USD
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143900000 USD
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300000 USD
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100000 USD
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100000 USD
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CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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900000 USD
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CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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100000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2016 us-gaap Other Cost And Expense Operating
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CY2017 us-gaap Other Cost And Expense Operating
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256000000 USD
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CY2016 us-gaap Payments For Proceeds From Other Investing Activities
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16100000 USD
CY2017 us-gaap Payments For Proceeds From Other Investing Activities
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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CY2016 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
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CY2016 us-gaap Other Expenses
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CY2016 us-gaap Other Nonoperating Income Expense
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CY2017 us-gaap Other Nonoperating Income Expense
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CY2015 us-gaap Other Selling General And Administrative Expense
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CY2016 us-gaap Other Selling General And Administrative Expense
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CY2015 us-gaap Payments Of Debt Extinguishment Costs
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85700000 USD
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100000 USD
CY2017 us-gaap Payments Of Debt Extinguishment Costs
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CY2016 us-gaap Payments Of Dividends Common Stock
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886100000 USD
CY2017 us-gaap Payments Of Dividends Common Stock
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CY2015 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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84600000 USD
CY2016 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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107100000 USD
CY2017 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2015 us-gaap Payments To Acquire Businesses Gross
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CY2016 us-gaap Payments To Acquire Businesses Gross
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4700000 USD
CY2017 us-gaap Payments To Acquire Businesses Gross
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CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2016 us-gaap Payments To Acquire Productive Assets
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CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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CY2017 us-gaap Payments To Acquire Short Term Investments
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CY2016Q1 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2016Q3 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2016Q4 us-gaap Preferred Stock Dividends Income Statement Impact
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26800000 USD
CY2016 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
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26800000 USD
CY2017Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
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18900000 USD
CY2017Q4 us-gaap Preferred Stock Dividends Income Statement Impact
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18900000 USD
CY2017 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2016Q4 us-gaap Prepaid Taxes
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136500000 USD
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7100000 USD
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CY2017 us-gaap Proceeds From Issuance Of Common Stock
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CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2016 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2017 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2015 us-gaap Proceeds From Issuance Of Secured Debt
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CY2016 us-gaap Proceeds From Issuance Of Secured Debt
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0 USD
CY2017 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
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CY2015 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2016 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2017 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2015 us-gaap Proceeds From Issuance Of Unsecured Debt
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500000000 USD
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CY2017 us-gaap Proceeds From Issuance Of Unsecured Debt
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CY2015 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2016 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2017 us-gaap Proceeds From Lines Of Credit
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CY2017 us-gaap Proceeds From Payments For Other Financing Activities
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CY2015 us-gaap Proceeds From Payments To Minority Shareholders
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CY2017 us-gaap Proceeds From Payments To Minority Shareholders
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CY2015 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2016 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2017 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2015 us-gaap Profit Loss
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CY2016 us-gaap Profit Loss
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CY2017Q4 us-gaap Profit Loss
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CY2017 us-gaap Profit Loss
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CY2017Q4 us-gaap Property Plant And Equipment Gross
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CY2017 us-gaap Real Estate Accumulated Depreciation Other Additions
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CY2015 us-gaap Real Estate Accumulated Depreciation Other Deductions
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145200000 USD
CY2016 us-gaap Real Estate Accumulated Depreciation Other Deductions
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201100000 USD
CY2016 us-gaap Real Estate Other Additions
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CY2017 us-gaap Real Estate Other Additions
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CY2015 us-gaap Real Estate Other Deductions
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CY2016Q4 us-gaap Sales Revenue Net
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24900000 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
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CY2017Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
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65600000 USD
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CY2016 us-gaap Real Estate Other Acquisitions
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230800000 USD
CY2017 us-gaap Real Estate Other Deductions
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CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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242400000 USD
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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557100000 USD
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
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647900000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
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718700000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Number Of Units
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149246 site
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CY2016Q1 us-gaap Sales Revenue Net
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1442200000 USD
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74.47
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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81.32
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2017Q4 us-gaap Stockholders Equity
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CY2017Q1 us-gaap Sales Revenue Net
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1662500000 USD
CY2017Q3 us-gaap Sales Revenue Net
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CY2017Q4 us-gaap Sales Revenue Net
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CY2017 us-gaap Sales Revenue Net
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CY2015 us-gaap Sales Revenue Services Net
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91100000 USD
CY2016 us-gaap Sales Revenue Services Net
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72600000 USD
CY2017 us-gaap Sales Revenue Services Net
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98000000 USD
CY2015 us-gaap Selling General And Administrative Expense
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497800000 USD
CY2016 us-gaap Selling General And Administrative Expense
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543400000 USD
CY2017 us-gaap Selling General And Administrative Expense
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637000000 USD
CY2015 us-gaap Share Based Compensation
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90500000 USD
CY2016 us-gaap Share Based Compensation
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CY2017 us-gaap Share Based Compensation
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108500000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Purchase Date
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0.15
CY2017 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
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28.39
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
3425213 shares
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
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5557561 shares
CY2017 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
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121.15
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y2M28D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y0M26D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y0M26D
CY2017 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y0M26D
CY2017 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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1442506 shares
CY2016Q4 us-gaap Short Term Investments
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4000000 USD
CY2017Q4 us-gaap Short Term Investments
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1000000 USD
CY2017 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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0 USD
CY2015 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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6600000 USD
CY2016 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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7500000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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9000000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
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2440400000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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120800000 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
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117200000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
155100000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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4053400000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6712800000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6976200000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6828100000 USD
CY2015 us-gaap Straight Line Rent
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155000000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2810000 shares
CY2016 us-gaap Straight Line Rent
StraightLineRent
131700000 USD
CY2017 us-gaap Straight Line Rent
StraightLineRent
194400000 USD
CY2016 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-23500000 USD
CY2017 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
68300000 USD
CY2017Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
216
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
8909000000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
207700000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
974000000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
766300000 USD
CY2016Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
57700000 USD
CY2017Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
107900000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
31900000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28100000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
107600000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
116700000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
5300000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
200000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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24300000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
29000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
3200000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
9200000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
5000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
82900000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
7600000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
1900000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 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
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3500000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3200000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
400000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
102900000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
105800000 USD
CY2015 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
19900000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
50000000 USD
CY2017 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
87200000 USD
CY2015 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
14100000 USD
CY2016 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
27200000 USD
CY2017 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
2100000 USD
CY2016Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
31600000 USD
CY2017Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
64200000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4108000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4140000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3507000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
423015000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
429283000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
431688000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
418907000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
425143000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
428181000 shares
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:13px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accounts Receivable and Deferred Rent Asset</font><font style="font-family:inherit;font-size:10pt;">&#8212;The Company derives the largest portion of its revenues, corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry, and </font><font style="font-family:inherit;font-size:10pt;">53%</font><font style="font-family:inherit;font-size:10pt;"> of its current year revenues are derived from </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> tenants. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease in which revenue is recognized on a straight-line basis over the lease term. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the creditworthiness of its borrowers and tenants. In recognizing tenant revenue, the Company assesses the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management&#8217;s estimates, may not be collectible, recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant&#8217;s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as tenants in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. </font></div></div>

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