2016 Form 10-K Financial Statement

#000151730217000013 Filed on February 21, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $720.9M $192.0M $198.3M
YoY Change -10.5% -6.8% -6.63%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $486.6M $126.3M $127.8M
YoY Change -6.98% -1.41% -2.74%
% of Gross Profit
Research & Development $32.13M $6.339M
YoY Change 26.04% 10.53%
% of Gross Profit
Depreciation & Amortization $5.272M $1.300M $1.100M
YoY Change 16.66% 30.0% 22.22%
% of Gross Profit
Operating Expenses $486.6M $126.3M $127.8M
YoY Change -6.97% -1.41% -2.76%
Operating Profit $234.2M $65.69M $70.56M
YoY Change -17.05% -15.69% -12.91%
Interest Expense $11.65M -$2.900M $2.971M
YoY Change -0.45% 31.82% 2.27%
% of Operating Profit 4.97% -4.41% 4.21%
Other Income/Expense, Net -$9.750M $0.00 -$8.777M
YoY Change -58.52% -100.0% 243.39%
Pretax Income $224.5M $62.80M $61.78M
YoY Change -13.29% -14.21% -21.26%
Income Tax $51.48M $13.60M $11.63M
% Of Pretax Income 22.93% 21.66% 18.83%
Net Earnings $73.03M $20.08M $18.47M
YoY Change -10.72% -5.72% -9.61%
Net Earnings / Revenue 10.13% 10.46% 9.32%
Basic Earnings Per Share $0.47 $0.44
Diluted Earnings Per Share $1.916M $547.7K $508.2K
COMMON SHARES
Basic Shares Outstanding 36.43M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.8M $166.2M $217.7M
YoY Change -5.66% -8.83% -4.52%
Cash & Equivalents $156.8M $166.2M $217.7M
Short-Term Investments
Other Short-Term Assets $8.700M $7.500M $13.10M
YoY Change 16.0% 27.12% 3.97%
Inventory
Prepaid Expenses
Receivables $59.70M $60.10M $67.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $225.2M $233.8M $298.4M
YoY Change -3.68% -9.24% -3.15%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00M $18.00M $15.60M
YoY Change 11.11% 8.44% 11.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.300M $10.30M $9.800M
YoY Change -38.83% 53.73% -16.95%
Other Assets $679.1M $679.4M $687.1M
YoY Change -0.04% 20.61% 21.96%
Total Long-Term Assets $711.0M $712.0M $712.4M
YoY Change -0.14% 20.31% 5.41%
TOTAL ASSETS
Total Short-Term Assets $225.2M $233.8M $298.4M
Total Long-Term Assets $711.0M $712.0M $712.4M
Total Assets $936.2M $945.8M $1.011B
YoY Change -1.02% 11.35% 2.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.60M $18.10M $28.00M
YoY Change -13.81% -17.35% -25.93%
Accrued Expenses $12.60M $13.70M $75.80M
YoY Change -8.03% 5.38% -2.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $615.0M $626.5M $692.5M
YoY Change -1.84% 16.38% 15.0%
LONG-TERM LIABILITIES
Long-Term Debt $199.5M $199.3M $200.0M
YoY Change 0.1% -0.35% 0.0%
Other Long-Term Liabilities $4.000M $3.500M
YoY Change 14.29% -2.78%
Total Long-Term Liabilities $203.5M $202.8M $200.0M
YoY Change 0.35% -0.39% -15.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $615.0M $626.5M $692.5M
Total Long-Term Liabilities $203.5M $202.8M $200.0M
Total Liabilities $804.5M $829.3M $892.5M
YoY Change -1.39% 11.77% 6.56%
SHAREHOLDERS EQUITY
Retained Earnings $13.24M $10.73M
YoY Change -19.36% -22.67%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $131.7M $130.0M $122.5M
YoY Change
Total Liabilities & Shareholders Equity $936.2M $945.8M $1.011B
YoY Change -1.02% 11.35% 2.73%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $73.03M $20.08M $18.47M
YoY Change -10.72% -5.72% -9.61%
Depreciation, Depletion And Amortization $5.272M $1.300M $1.100M
YoY Change 16.66% 30.0% 22.22%
Cash From Operating Activities $270.4M $22.60M $84.30M
YoY Change -15.84% -68.61% -7.36%
INVESTING ACTIVITIES
Capital Expenditures $2.933M -$3.700M -$800.0K
YoY Change -22.69% 117.65% -77.14%
Acquisitions
YoY Change
Other Investing Activities $4.900M $0.00 $1.800M
YoY Change -222.5% -100.0% -71.88%
Cash From Investing Activities -$2.329M -$3.700M $1.000M
YoY Change -79.43% -200.0% -65.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$277.7M -70.40M -83.00M
YoY Change -14.82% -42.01% 19.42%
NET CHANGE
Cash From Operating Activities $270.4M 22.60M 84.30M
Cash From Investing Activities -$2.329M -3.700M 1.000M
Cash From Financing Activities -$277.7M -70.40M -83.00M
Net Change In Cash -$9.676M -51.50M 2.300M
YoY Change -39.87% 12.69% -90.57%
FREE CASH FLOW
Cash From Operating Activities $270.4M $22.60M $84.30M
Capital Expenditures $2.933M -$3.700M -$800.0K
Free Cash Flow $267.4M $26.30M $85.10M
YoY Change -15.76% -64.31% -9.95%

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3982000 USD
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CurrentStateAndLocalTaxExpenseBenefit
3560000 USD
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CurrentStateAndLocalTaxExpenseBenefit
2180000 USD
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200000000 USD
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200000000 USD
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21402000 USD
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DeferredFederalIncomeTaxExpenseBenefit
22916000 USD
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32124000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
17569000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16521000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
33960000 USD
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3478000 USD
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3972000 USD
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-3833000 USD
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DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1836000 USD
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678537000 USD
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678518000 USD
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18283000 USD
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24576000 USD
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0 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
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0 USD
CY2014 us-gaap Defined Benefit Plan Contributions By Employer
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4900000 USD
CY2015 us-gaap Defined Benefit Plan Contributions By Employer
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5500000 USD
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6000000 USD
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3200000 USD
CY2015 us-gaap Depreciation
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4500000 USD
CY2016 us-gaap Depreciation
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5200000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
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3250000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
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4519000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5272000 USD
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99804000 USD
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123948000 USD
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0.43
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0.50
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0.44
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0.47
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0.35
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0.38
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0.41
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0.42
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1.86
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1.57
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0.167
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0.181
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0.229
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.017
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.030
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.031
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.029
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.024
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.014
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.009
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012
CY2014 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1200000 USD
CY2015 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
200000 USD
CY2016 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
100000 USD
CY2015Q4 us-gaap Employee Related Liabilities Current
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13748000 USD
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12642000 USD
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1114000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1300000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1114000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1300000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
CY2014 us-gaap Gain Loss On Investments
GainLossOnInvestments
300000 USD
CY2015 us-gaap Gain Loss On Investments
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400000 USD
CY2016 us-gaap Gain Loss On Investments
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1100000 USD
CY2014 us-gaap Gain Loss On Sale Of Investments
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295000 USD
CY2015 us-gaap Gain Loss On Sale Of Investments
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424000 USD
CY2016 us-gaap Gain Loss On Sale Of Investments
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1073000 USD
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-362000 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-40000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-108000 USD
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30685000 USD
CY2015 us-gaap Income Taxes Paid Net
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29316000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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291543000 USD
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258877000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
224484000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48829000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46771000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51483000 USD
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18621000 USD
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12638000 USD
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-316000 USD
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IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3520000 USD
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5599000 USD
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-9303000 USD
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-318000 USD
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-8742000 USD
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-8682000 USD
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-5096000 USD
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-136000 USD
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-129000 USD
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IncreaseDecreaseInOtherDeferredLiability
494000 USD
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1607000 USD
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2614000 USD
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4898000 USD
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-260000 USD
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-36000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash
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InterestExpense
11572000 USD
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InterestExpense
11706000 USD
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InterestExpense
11653000 USD
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11100000 USD
CY2015 us-gaap Interest Expense Debt
InterestExpenseDebt
11100000 USD
CY2016 us-gaap Interest Expense Debt
InterestExpenseDebt
11100000 USD
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InterestPaid
179000 USD
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InterestPaid
127000 USD
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414238000 USD
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383915000 USD
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Liabilities
818452000 USD
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936166000 USD
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90000000 USD
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60000000 USD
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0 USD
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0 USD
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50000000 USD
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0 USD
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0 USD
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266838000 USD
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182175000 USD
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133876000 USD
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0.54
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351567000 USD
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321239000 USD
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270360000 USD
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23736000 USD
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18474000 USD
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20077000 USD
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18384000 USD
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19086000 USD
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35522000 USD
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25092000 USD
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65768000 USD
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59971000 USD
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32516000 USD
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120402000 USD
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88942000 USD
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1 segment
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12504000 USD
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13076000 USD
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521798000 USD
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523084000 USD
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OperatingExpenses
486625000 USD
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306903000 USD
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OperatingIncomeLoss
67829000 USD
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OperatingIncomeLoss
70555000 USD
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OperatingIncomeLoss
65688000 USD
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OperatingIncomeLoss
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OperatingIncomeLoss
54725000 USD
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OperatingIncomeLoss
59013000 USD
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61909000 USD
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58587000 USD
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OperatingIncomeLoss
234234000 USD
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72615000 USD
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10131000 USD
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8200000 USD
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8321000 USD
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8882000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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10303000 USD
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26778000 USD
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9400000 USD
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9700000 USD
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9800000 USD
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4600000 USD
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3600000 USD
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4410000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous
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5534000 USD
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-536000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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-725000 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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-99000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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-510000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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-586000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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-2130000 USD
CY2015 us-gaap Other Noncash Income Expense
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0 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-510000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-586000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-2130000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1046000 USD
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OtherComprehensiveIncomeLossNetOfTax
-1311000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2229000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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295000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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424000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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1073000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Basis of presentation</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">The accompanying consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) and related rules and regulations of the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates or assumptions.</font></div></div>

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