2021 Q4 Form 10-K Financial Statement

#000095017022002474 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $1.112B $12.00M $882.0M
YoY Change 26.08% -64.71% -10.46%
Cost Of Revenue $838.0M $3.001B $684.0M
YoY Change 22.51% 6.0% -13.09%
Gross Profit $274.0M $939.0M $198.0M
YoY Change 38.38% 24.21% 0.0%
Gross Profit Margin 24.64% 7825.0% 22.45%
Selling, General & Admin $192.0M $803.0M $189.0M
YoY Change 1.59% 10.76% -42.73%
% of Gross Profit 70.07% 85.52% 95.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $48.00M $75.00M $67.00M
YoY Change -28.36% -7.41% -2.9%
% of Gross Profit 17.52% 7.99% 33.84%
Operating Expenses $224.0M $803.0M $219.0M
YoY Change 2.28% 10.76% -39.0%
Operating Profit $50.00M $136.0M -$21.00M
YoY Change -338.1% -181.93% -86.96%
Interest Expense -$17.00M $60.00M -$11.00M
YoY Change 54.55% 15.38% -26.67%
% of Operating Profit -34.0% 44.12%
Other Income/Expense, Net $0.00 -$57.00M $14.00M
YoY Change -100.0% 216.67% -44.0%
Pretax Income $33.00M $79.00M -$18.00M
YoY Change -283.33% -142.93% -88.08%
Income Tax $18.00M $32.00M $4.000M
% Of Pretax Income 54.55% 40.51%
Net Earnings $15.00M $47.00M -$22.00M
YoY Change -168.18% -130.72% -85.62%
Net Earnings / Revenue 1.35% 391.67% -2.49%
Basic Earnings Per Share -$0.67
Diluted Earnings Per Share $71.77K -$0.67 -$132.5K
COMMON SHARES
Basic Shares Outstanding 224.6M 206.0M
Diluted Shares Outstanding 206.0M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.188B $1.188B $515.0M
YoY Change 130.68% 130.68%
Cash & Equivalents $1.188B $1.188B $515.0M
Short-Term Investments
Other Short-Term Assets $385.0M $385.0M $77.00M
YoY Change 400.0% 400.0%
Inventory $69.00M $69.00M $64.00M
Prepaid Expenses
Receivables $767.0M $984.0M $639.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.626B $2.626B $1.437B
YoY Change 82.74% 82.74% 7.08%
LONG-TERM ASSETS
Property, Plant & Equipment $326.0M $427.0M $355.0M
YoY Change -8.17% -7.58% -11.69%
Goodwill $1.106B $1.082B
YoY Change 2.22% 10.41%
Intangibles $882.0M $965.0M
YoY Change -8.6% -13.92%
Long-Term Investments
YoY Change
Other Assets $45.00M $118.0M $30.00M
YoY Change 50.0% -0.84% -50.82%
Total Long-Term Assets $2.533B $2.533B $2.628B
YoY Change -3.61% -3.61% -1.54%
TOTAL ASSETS
Total Short-Term Assets $2.626B $2.626B $1.437B
Total Long-Term Assets $2.533B $2.533B $2.628B
Total Assets $5.159B $5.159B $4.065B
YoY Change 26.91% 26.91% 1.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $236.0M $236.0M $150.0M
YoY Change 57.33% 57.33% -3.85%
Accrued Expenses $338.0M $362.0M $315.0M
YoY Change 7.3% 5.54%
Deferred Revenue $243.0M $219.0M
YoY Change 10.96% 13.47%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $28.00M $4.000M $49.00M
YoY Change -42.86% -80.95%
Total Short-Term Liabilities $867.0M $867.0M $841.0M
YoY Change 3.09% 3.09% 2.19%
LONG-TERM LIABILITIES
Long-Term Debt $1.845B $1.768B $1.493B
YoY Change 23.58% 24.95%
Other Long-Term Liabilities $71.00M $158.0M $106.0M
YoY Change -33.02% -23.3% 116.33%
Total Long-Term Liabilities $71.00M $1.926B $106.0M
YoY Change -33.02% 18.82% 116.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $867.0M $867.0M $841.0M
Total Long-Term Liabilities $71.00M $1.926B $106.0M
Total Liabilities $2.836B $2.836B $2.507B
YoY Change 13.12% 13.12% 11.22%
SHAREHOLDERS EQUITY
Retained Earnings -$237.0M -$284.0M
YoY Change -16.55% 116.79%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.323B $2.323B $1.558B
YoY Change
Total Liabilities & Shareholders Equity $5.159B $5.159B $4.065B
YoY Change 26.91% 26.91% 1.35%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $15.00M $47.00M -$22.00M
YoY Change -168.18% -130.72% -85.62%
Depreciation, Depletion And Amortization $48.00M $75.00M $67.00M
YoY Change -28.36% -7.41% -2.9%
Cash From Operating Activities $114.0M $182.0M $167.0M
YoY Change -31.74% -63.31% 11.33%
INVESTING ACTIVITIES
Capital Expenditures -$12.00M $55.00M -$14.00M
YoY Change -14.29% 44.74% 27.27%
Acquisitions $86.00M
YoY Change -73.04%
Other Investing Activities -$28.00M -$66.00M -$309.0M
YoY Change -90.94% -78.15% -82.0%
Cash From Investing Activities -$40.00M -$121.0M -$323.0M
YoY Change -87.62% -64.41% -81.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $321.0M
YoY Change 1428.57%
Cash From Financing Activities 288.0M 917.0M 200.0M
YoY Change 44.0% 826.26% -85.69%
NET CHANGE
Cash From Operating Activities 114.0M 182.0M 167.0M
Cash From Investing Activities -40.00M -121.0M -323.0M
Cash From Financing Activities 288.0M 917.0M 200.0M
Net Change In Cash 362.0M 976.0M 44.00M
YoY Change 722.73% 276.83% -124.44%
FREE CASH FLOW
Cash From Operating Activities $114.0M $182.0M $167.0M
Capital Expenditures -$12.00M $55.00M -$14.00M
Free Cash Flow $126.0M $127.0M $181.0M
YoY Change -30.39% -72.27% 12.42%

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CY2021 us-gaap Nature Of Operations
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">NOTE 1. NATURE OF BUSINESS</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">APi Group Corporation (the “Company”, “APG”, or "APi Group") is a market-leading business services provider of safety, specialty, and industrial services in over </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">200</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> locations, primarily in North America and Europe.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021Q4 apg Number Of Locations In Which Entity Operates
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200
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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0.287
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9000000
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3000000
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P12M
CY2021 apg Customers With Payment Terms
CustomersWithPaymentTerms
30 days
CY2021 us-gaap Goodwill Change In Goodwill Allocation Description
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The components are aligned to one of the Company’s three reportable segments, Safety Services, Specialty Services, or Industrial Services. Goodwill is required to be evaluated for impairment at the reporting unit level, which represents the operating segment level or one level below the operating segment level for which discrete financial information is available.Management identifies its reporting units by assessing whether components have discrete financial information available, engage in business activities, and have a segment manager regularly review the component’s operating results. If two or more components are deemed economically similar, those components are aggregated into one reporting unit when performing the annual goodwill impairment test.
CY2021 us-gaap Number Of Reportable Segments
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3
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64000000
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59000000
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8000000
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7000000
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6000000
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4000000
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638000000
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3940000000
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RevenueFromContractWithCustomerExcludingAssessedTax
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RevenueFromContractWithCustomerExcludingAssessedTax
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RevenueFromContractWithCustomerExcludingAssessedTax
3940000000
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RevenueFromContractWithCustomerExcludingAssessedTax
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RevenueFromContractWithCustomerExcludingAssessedTax
985000000
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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1240000000
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358000000
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882000000
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70000000
CY2020Q4 us-gaap Goodwill
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47000000
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-23000000
CY2021Q4 us-gaap Goodwill
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1106000000
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GoodwillImpairmentLossAtBusinessWithOngoingOperations
193000000
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
197000000
CY2020 apg Goodwill Impairment Loss At Business With Ongoing Operations
GoodwillImpairmentLossAtBusinessWithOngoingOperations
193000000
CY2020 apg Goodwill Impairment Loss At Business Divested Prior To Current Period
GoodwillImpairmentLossAtBusinessDivestedPriorToCurrentPeriod
4000000
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
730000000
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
245000000
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
193000000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
639000000
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
142000000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
219000000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
767000000
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
217000000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
243000000
CY2021 apg Accounts Receivable Includes Retentions Receivable
AccountsReceivableIncludesRetentionsReceivable
117000000
CY2020 apg Accounts Receivable Includes Retentions Receivable
AccountsReceivableIncludesRetentionsReceivable
122000000
CY2021 apg Accounts Receivable Includes Retentions Receivable Within One Year
AccountsReceivableIncludesRetentionsReceivableWithinOneYear
25000000
CY2020 apg Accounts Receivable Includes Retentions Receivable Within One Year
AccountsReceivableIncludesRetentionsReceivableWithinOneYear
26000000
CY2021 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2019Q4 us-gaap Goodwill
Goodwill
980000000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
225000000
CY2020 apg Goodwill Impairment Loss At Business With Ongoing Operations
GoodwillImpairmentLossAtBusinessWithOngoingOperations
193000000
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1198000000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
233000000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
965000000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
182000000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
127000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
124000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
124000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
123000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
123000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
261000000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
882000000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
127000000
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
4000000
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7000000
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7000000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
3000000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
8000000
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
6000000
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
4000000
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
4000000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-1000000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4000000
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7000000
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7000000
CY2021Q4 apg Business Combination Contingent Consideration Arrangements Number Of Open Arrangements
BusinessCombinationContingentConsiderationArrangementsNumberOfOpenArrangements
3
CY2020Q4 apg Business Combination Contingent Consideration Arrangements Number Of Open Arrangements
BusinessCombinationContingentConsiderationArrangementsNumberOfOpenArrangements
3
CY2019Q4 apg Business Combination Contingent Consideration Arrangements Number Of Open Arrangements
BusinessCombinationContingentConsiderationArrangementsNumberOfOpenArrangements
5
CY2021Q4 apg Business Combination Contingent Consideration Arrangements Maximum Potential Payout
BusinessCombinationContingentConsiderationArrangementsMaximumPotentialPayout
5000000
CY2020Q4 apg Business Combination Contingent Consideration Arrangements Maximum Potential Payout
BusinessCombinationContingentConsiderationArrangementsMaximumPotentialPayout
7000000
CY2019Q4 apg Business Combination Contingent Consideration Arrangements Maximum Potential Payout
BusinessCombinationContingentConsiderationArrangementsMaximumPotentialPayout
11000000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
481000000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
449000000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
155000000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
94000000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
326000000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
355000000
CY2021 us-gaap Depreciation
Depreciation
75000000
CY2020 us-gaap Depreciation
Depreciation
81000000
CY2019 us-gaap Depreciation
Depreciation
18000000
CY2021 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Some leases include one or more options to renew, generally at the Company’s sole discretion, with renewal terms that can extend the lease term from 1 to 12 years or more.
CY2021 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021 us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants.
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
35000000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
34000000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
7000000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2000000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
26000000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
28000000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
9000000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
6000000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
4000000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
1000000
CY2021 us-gaap Lease Cost
LeaseCost
69000000
CY2020 us-gaap Lease Cost
LeaseCost
67000000
CY2019 us-gaap Lease Cost
LeaseCost
17000000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
35000000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
33000000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
7000000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18000000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1000000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26000000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32000000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
111000000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
3000000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
4000000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
17000000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1000000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5000000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
20000000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.035
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.023
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.026
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27000000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due In Next Twelve Months
OperatingAndFinanceLeaseLiabilityPaymentsDueInNextTwelveMonths
30000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
22000000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due Year Two
OperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
23000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17000000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due Year Three
OperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
18000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due Year Four
OperatingAndFinanceLeaseLiabilityPaymentsDueYearFour
13000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due Year Five
OperatingAndFinanceLeaseLiabilityPaymentsDueYearFive
9000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
24000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due Thereafter
OperatingAndFinanceLeaseLiabilityPaymentsDueThereafter
24000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
112000000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
5000000
CY2021Q4 apg Operating And Finance Lease Liability Payments Due
OperatingAndFinanceLeaseLiabilityPaymentsDue
117000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11000000
CY2021Q4 apg Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
11000000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
101000000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5000000
CY2021Q4 apg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
106000000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
24000000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
3000000
CY2021Q4 apg Operating And Finance Leases Liability Current
OperatingAndFinanceLeasesLiabilityCurrent
27000000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
77000000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2000000
CY2021Q4 apg Operating And Finance Leases Liability Non Current
OperatingAndFinanceLeasesLiabilityNonCurrent
79000000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
101000000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5000000
CY2021Q4 apg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
106000000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
5000000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
5000000
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
0
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
1791000000
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
1443000000
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
24000000
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
28000000
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1767000000
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1415000000
CY2021Q4 us-gaap Debt Current
DebtCurrent
1000000
CY2020Q4 us-gaap Debt Current
DebtCurrent
18000000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1766000000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
1397000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
12000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1128000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
650000000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1791000000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
54000000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-180000000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-153000000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
25000000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-4000000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2000000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
79000000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-184000000
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-151000000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
9000000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
17000000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8000000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19000000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3000000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
9000000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7000000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
2000000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
26000000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
43000000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5000000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
6000000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-50000000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2000000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-20000000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1000000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2000000
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-4000000
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2000000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6000000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-74000000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3000000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
17000000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-39000000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-32000000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 apg Effective Income Tax Rate Reconciliation Deferred Remeasurement
EffectiveIncomeTaxRateReconciliationDeferredRemeasurement
0.000
CY2020 apg Effective Income Tax Rate Reconciliation Deferred Remeasurement
EffectiveIncomeTaxRateReconciliationDeferredRemeasurement
0.000
CY2019 apg Income Tax Reconciliation Deferred Remeasurement
IncomeTaxReconciliationDeferredRemeasurement
33000000
CY2019 apg Effective Income Tax Rate Reconciliation Deferred Remeasurement
EffectiveIncomeTaxRateReconciliationDeferredRemeasurement
-0.215
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8000000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.101
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-6000000
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.026
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1000000
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.007
CY2021 apg Effective Income Tax Rate Reconciliation S Corporation Exclusion
EffectiveIncomeTaxRateReconciliationSCorporationExclusion
0.000
CY2020 apg Effective Income Tax Rate Reconciliation S Corporation Exclusion
EffectiveIncomeTaxRateReconciliationSCorporationExclusion
0.000
CY2019 apg Effective Income Tax Rate Reconciliation S Corporation Exclusion
EffectiveIncomeTaxRateReconciliationSCorporationExclusion
0.000
CY2021 apg Income Tax Reconciliation Permanent Differences And Other
IncomeTaxReconciliationPermanentDifferencesAndOther
2000000
CY2021 apg Effective Income Tax Rate Reconciliation Permanent Differences And Other
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAndOther
0.025
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1000000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
4000000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.012
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.002
CY2021 apg Income Tax Reconciliation Transaction Costs
IncomeTaxReconciliationTransactionCosts
4000000
CY2021 apg Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
0.051
CY2020 apg Income Tax Reconciliation Transaction Costs
IncomeTaxReconciliationTransactionCosts
1000000
CY2020 apg Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
-0.005
CY2019 apg Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
0.000
CY2020Q4 apg Deferred Tax Assets Amortization On Identified Intangibles
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