2017 Q2 Form 10-Q Financial Statement

#000167486217000060 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q3 2016 Q2
Revenue $870.0M $754.0M $790.0M
YoY Change 10.13% -41.09% -42.21%
Cost Of Revenue $635.0M $415.0M $554.0M
YoY Change 14.62% -57.17% -41.0%
Gross Profit $235.0M $339.0M $236.0M
YoY Change -0.42% 9.0% -44.86%
Gross Profit Margin 27.01% 44.96% 29.87%
Selling, General & Admin $182.0M $295.0M $160.0M
YoY Change 13.75% -21.33% 4.58%
% of Gross Profit 77.45% 87.02% 67.8%
Research & Development $20.00M $21.00M $22.00M
YoY Change -9.09% -16.0% -8.33%
% of Gross Profit 8.51% 6.19% 9.32%
Depreciation & Amortization $84.00M $75.00M $59.00M
YoY Change 42.37% 47.06% -30.59%
% of Gross Profit 35.74% 22.12% 25.0%
Operating Expenses $202.0M $334.0M $182.0M
YoY Change 10.99% -19.52% -5.21%
Operating Profit $37.00M $5.000M $57.00M
YoY Change -35.09% -104.81% -75.85%
Interest Expense -$39.00M -$41.00M -$42.00M
YoY Change -7.14% -35.94% -2.33%
% of Operating Profit -105.41% -820.0% -73.68%
Other Income/Expense, Net -$13.00M -$79.00M $0.00
YoY Change 1875.0% -100.0%
Pretax Income -$20.00M -$330.0M $20.00M
YoY Change -200.0% 142.65% -85.92%
Income Tax -$4.000M $14.00M -$4.000M
% Of Pretax Income -20.0%
Net Earnings -$33.00M -$276.0M $71.00M
YoY Change -146.48% 411.11% -33.64%
Net Earnings / Revenue -3.79% -36.6% 8.99%
Basic Earnings Per Share -$0.54 $1.15
Diluted Earnings Per Share -$0.54 -$4.381M $1.13
COMMON SHARES
Basic Shares Outstanding 62.00M 62.12M shares 62.00M shares
Diluted Shares Outstanding 62.00M 63.00M shares

Balance Sheet

Concept 2017 Q2 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $492.0M $1.017B $1.215B
YoY Change -59.51% -19.09% 9.16%
Cash & Equivalents $492.0M $1.017B $1.215B
Short-Term Investments
Other Short-Term Assets $73.00M $89.00M $111.0M
YoY Change -34.23% -47.34% -58.89%
Inventory $631.0M $539.0M $677.0M
Prepaid Expenses
Receivables $643.0M $529.0M $908.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.839B $2.888B $2.911B
YoY Change -36.83% -6.63% -5.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.937B $1.900B $2.170B
YoY Change -10.74% -1.5% 0.14%
Goodwill $288.0M $2.138B
YoY Change -7.73%
Intangibles $1.316B $1.061B
YoY Change -7.09%
Long-Term Investments $32.00M $31.00M $62.00M
YoY Change -48.39% -52.31% -6.06%
Other Assets $411.0M $437.0M $919.0M
YoY Change -55.28% 6.85% 21.24%
Total Long-Term Assets $6.667B $7.112B $7.001B
YoY Change -4.77% 2.17% 2.01%
TOTAL ASSETS
Total Short-Term Assets $1.839B $2.888B $2.911B
Total Long-Term Assets $6.667B $7.112B $7.001B
Total Assets $8.506B $10.00B $9.912B
YoY Change -14.18% -0.66% -0.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $392.0M $376.0M $477.0M
YoY Change -17.82% -34.38% -12.32%
Accrued Expenses $274.0M $313.0M $419.0M
YoY Change -34.61% -35.86% -14.84%
Deferred Revenue
YoY Change
Short-Term Debt $223.0M $170.0M $716.0M
YoY Change -68.85% -47.85% 209.96%
Long-Term Debt Due $6.000M $0.00 $55.00M
YoY Change -89.09% -100.0% -47.62%
Total Short-Term Liabilities $895.0M $1.238B $1.671B
YoY Change -46.44% -14.15% 21.62%
LONG-TERM LIABILITIES
Long-Term Debt $2.584B $2.325B $3.316B
YoY Change -22.07% -30.56% -1.37%
Other Long-Term Liabilities $361.0M $361.0M $2.106B
YoY Change -82.86% -10.86% 8.0%
Total Long-Term Liabilities $4.212B $5.597B $5.422B
YoY Change -22.32% 0.39% 2.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $895.0M $1.238B $1.671B
Total Long-Term Liabilities $4.212B $5.597B $5.422B
Total Liabilities $5.107B $6.835B $7.178B
YoY Change -28.85% -2.59% 5.75%
SHAREHOLDERS EQUITY
Retained Earnings $2.704B
YoY Change -17.59%
Common Stock $924.0M
YoY Change 1865.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.399B $3.347B $2.734B
YoY Change
Total Liabilities & Shareholders Equity $8.506B $10.00B $9.912B
YoY Change -14.18% -0.54% -0.43%

Cashflow Statement

Concept 2017 Q2 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income -$33.00M -$276.0M $71.00M
YoY Change -146.48% 411.11% -33.64%
Depreciation, Depletion And Amortization $84.00M $75.00M $59.00M
YoY Change 42.37% 47.06% -30.59%
Cash From Operating Activities $195.0M $273.0M $174.0M
YoY Change 12.07% 18.18% -164.21%
INVESTING ACTIVITIES
Capital Expenditures -$53.00M -$81.00M -$47.00M
YoY Change 12.77% 10.96% -22.95%
Acquisitions
YoY Change
Other Investing Activities -$877.0M -$44.00M -$36.00M
YoY Change 2336.11% 238.46% -181.82%
Cash From Investing Activities -$930.0M -$125.0M -$83.00M
YoY Change 1020.48% 45.35% 388.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 621.0M -173.0M -17.00M
YoY Change -3752.94% -4425.0% -103.41%
NET CHANGE
Cash From Operating Activities 195.0M 273.0M 174.0M
Cash From Investing Activities -930.0M -125.0M -83.00M
Cash From Financing Activities 621.0M -173.0M -17.00M
Net Change In Cash -114.0M -25.00M 74.00M
YoY Change -254.05% -116.78% -64.76%
FREE CASH FLOW
Cash From Operating Activities $195.0M $273.0M $174.0M
Capital Expenditures -$53.00M -$81.00M -$47.00M
Free Cash Flow $248.0M $354.0M $221.0M
YoY Change 12.22% 16.45% -205.24%

Facts In Submission

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0.17
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-102000000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-501000000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
66000000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-187000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-234000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
164000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-103000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-779000000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
235000000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
114000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
27000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
57000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
144000000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
CY2017Q2 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
37000000 USD
us-gaap Payments For Hedge Investing Activities
PaymentsForHedgeInvestingActivities
2000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
108000000 USD
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
89000000 USD
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
73000000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
406000000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
411000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Cost Credit Arising During Period Before Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostCreditArisingDuringPeriodBeforeTax
-86000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Cost Credit Arising During Period Before Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostCreditArisingDuringPeriodBeforeTax
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
-55000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
0 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
3000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
52000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
1000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
7000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
34000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
4000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
3000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
18000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
1000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
3000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-41000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
28000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
112000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
21000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-45000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-27000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
107000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
15000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-46000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-26000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
105000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
19000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-1000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
2000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-4000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-42000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
109000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
25000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-21000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
4000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
-31000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
-2000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-1000000 USD
us-gaap Payments For Hedge Investing Activities
PaymentsForHedgeInvestingActivities
3000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-1000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
20000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
3000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
500000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
17000000 USD
CY2016Q2 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-4000000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
361000000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
361000000 USD
CY2016Q2 us-gaap Other Operating Income
OtherOperatingIncome
3000000 USD
us-gaap Other Operating Income
OtherOperatingIncome
7000000 USD
CY2017Q2 us-gaap Other Operating Income
OtherOperatingIncome
4000000 USD
us-gaap Other Operating Income
OtherOperatingIncome
9000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
15000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
69000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
62000000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4000000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
19000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
680000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
150000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-30000000 USD
us-gaap Profit Loss
ProfitLoss
85000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
19000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
71000000 USD
us-gaap Profit Loss
ProfitLoss
247000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3615000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
126000000 USD
CY2016Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
195000000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
191000000 USD
us-gaap Pension Contributions
PensionContributions
24000000 USD
us-gaap Pension Contributions
PensionContributions
6000000 USD
us-gaap Proceeds From Hedge Investing Activities
ProceedsFromHedgeInvestingActivities
8000000 USD
us-gaap Proceeds From Hedge Investing Activities
ProceedsFromHedgeInvestingActivities
5000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1100000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
389000000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3707000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1900000000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1937000000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3165000000 USD
CY2016Q3 us-gaap Recorded Third Party Environmental Recoveries Noncurrent
RecordedThirdPartyEnvironmentalRecoveriesNoncurrent
15000000 USD
CY2017Q2 us-gaap Recorded Third Party Environmental Recoveries Noncurrent
RecordedThirdPartyEnvironmentalRecoveriesNoncurrent
14000000 USD
CY2016Q3 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
23000000 USD
CY2017Q2 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
15000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
50000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
913000000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
66000000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
61000000 USD
CY2016Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
30000000 USD
CY2017Q2 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
30000000 USD
CY2016Q3 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
292000000 USD
CY2017Q2 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
299000000 USD
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
2000000 USD
CY2017Q2 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
11000000 USD
us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.83
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
790000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2265000000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
870000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2380000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
160000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
481000000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
182000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
493000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-3000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
3399000000 USD
CY2016Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
170000000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
223000000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
242043 shares
CY2017Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
500000000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
3347000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3399000000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
187000000 USD
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2.745338
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
168000000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
192000000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2000000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
12000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
12000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
6000000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
-3000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62000000 shares
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Since 2014, Ashland has entered into foreign currency contracts in order to manage the foreign currency exposure of the net investment in certain foreign operations. These foreign currency contracts were primarily the result of certain proceeds from the sale of Water Technologies being received in non-U.S. denominated currencies during 2014 and ongoing management of the volatility in foreign currency exchange rates. Ashland designated the foreign currency contracts as hedges of net investments in its foreign subsidiaries. As a result, Ashland records these hedges at fair value using forward rates, with the effective portion of the gain or loss reported as a component of the cumulative translation adjustment within AOCI and subsequently recognized in the Statements of Consolidated Comprehensive Income when the hedged item affects net income</font><font style="font-family:inherit;font-size:10pt;">.</font><font style="font-family:inherit;font-size:11pt;"> During 2017 and 2016, these foreign currency contracts were settled and for certain hedges Ashland entered into new foreign currency contracts designated as hedges of net investments in foreign subsidiaries. These settlements resulted in net gains and losses recorded within the cumulative translation adjustment within AOCI, including a net gain of </font><font style="font-family:inherit;font-size:11pt;">$1 million</font><font style="font-family:inherit;font-size:10pt;"> and</font><font style="font-family:inherit;font-size:11pt;"> a net loss of </font><font style="font-family:inherit;font-size:11pt;">$1 million</font><font style="font-family:inherit;font-size:11pt;"> for the three months ended </font><font style="font-family:inherit;font-size:11pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;">2016</font><font style="font-family:inherit;font-size:11pt;">, respectively, and net gains of </font><font style="font-family:inherit;font-size:11pt;">$2 million</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;">$6 million</font><font style="font-family:inherit;font-size:11pt;"> for the </font><font style="font-family:inherit;font-size:11pt;">nine</font><font style="font-family:inherit;font-size:11pt;"> months </font><font style="font-family:inherit;font-size:11pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;">2016</font><font style="font-family:inherit;font-size:11pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As of </font><font style="font-family:inherit;font-size:11pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;">September&#160;30, 2016</font><font style="font-family:inherit;font-size:11pt;">, the total notional value of foreign currency contracts equaled </font><font style="font-family:inherit;font-size:11pt;">$49 million</font><font style="font-family:inherit;font-size:11pt;"> and </font><font style="font-family:inherit;font-size:11pt;">$94 million</font><font style="font-family:inherit;font-size:11pt;">, respectively. The fair value of Ashland's net investment hedge assets and liabilities are calculated using forward rates. Accordingly, these instruments are deemed to be Level 2 measurements within the fair value hierarchy. Counterparties to these net investment hedges are highly rated financial institutions which Ashland believes carry only a nominal risk of nonperformance.</font></div></div>
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ashland conducts business in a variety of foreign currencies.&#160;&#160;Accordingly, Ashland regularly uses foreign currency derivative instruments to manage exposure on certain transactions denominated in foreign currencies to curtail potential earnings volatility effects of certain assets and liabilities, including short-term inter-company loans, denominated in currencies other than Ashland&#8217;s functional currency of an entity. These derivative contracts generally require exchange of one foreign currency for another at a fixed rate at a future date and generally have maturities of less than twelve months.&#160;&#160;All contracts are valued at fair value with net changes in fair value recorded within the selling, general and administrative expense caption.&#160;&#160;The impacts of these contracts were largely offset by gains and losses resulting from the impact of changes in exchange rates on transactions denominated in non-functional currencies. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Use of estimates, risks and uncertainties </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The preparation of Ashland&#8217;s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities.&#160;&#160;Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets (including goodwill and other intangible assets), employee benefit obligations, income taxes and liabilities and receivables associated with asbestos litigation and environmental remediation.&#160;&#160;Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ashland&#8217;s results are affected by domestic and international economic, political, legislative, regulatory and legal actions.&#160;&#160;Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies and changes in the prices of certain key raw materials, can have a significant effect on operations.&#160;&#160;While Ashland maintains reserves for anticipated liabilities and carries various levels of insurance, Ashland could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings relating to asbestos, environmental remediation or other matters.</font></div></div>

Files In Submission

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0001674862-17-000060-index-headers.html Edgar Link pending
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