2017 Q4 Form 10-K Financial Statement

#000101896318000004 Filed on February 20, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $909.9M $869.1M $880.2M
YoY Change 14.29% 12.8% 8.6%
Cost Of Revenue $767.3M $763.8M $755.9M
YoY Change 9.8% 6.04% -0.84%
Gross Profit $142.6M $105.3M $124.3M
YoY Change 46.56% 109.76% 157.88%
Gross Profit Margin 15.67% 12.12% 14.12%
Selling, General & Admin $60.50M $64.60M $65.00M
YoY Change -7.35% 6.78% 9.61%
% of Gross Profit 42.43% 61.35% 52.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.10M $40.10M $40.30M
YoY Change 0.0% -5.42% -7.78%
% of Gross Profit 28.12% 38.08% 32.42%
Operating Expenses $60.50M $64.60M $65.00M
YoY Change -7.35% 6.78% 9.61%
Operating Profit $82.10M -$73.70M $59.30M
YoY Change 156.56% -85.23% -590.08%
Interest Expense -$31.60M -$34.20M -$34.50M
YoY Change -3.66% 4.91% 13.86%
% of Operating Profit -38.49% -58.18%
Other Income/Expense, Net -$13.10M $200.0K $200.0K
YoY Change -2283.33% -80.0%
Pretax Income $400.0K -$121.3M $11.30M
YoY Change -101.39% -77.18% -127.29%
Income Tax -$700.0K -$1.900M -$2.100M
% Of Pretax Income -175.0% -18.58%
Net Earnings $1.700M -$121.2M $10.10M
YoY Change -82.83% -77.17% -153.72%
Net Earnings / Revenue 0.19% -13.95% 1.15%
Basic Earnings Per Share $0.01 -$1.12 $0.09
Diluted Earnings Per Share $0.01 -$1.12 $0.09
COMMON SHARES
Basic Shares Outstanding 118.6M shares 108.9M shares 108.9M shares
Diluted Shares Outstanding 107.7M shares 128.3M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $141.6M $124.9M $154.6M
YoY Change -38.33% -33.78% -52.08%
Cash & Equivalents $141.6M $124.9M $154.6M
Short-Term Investments
Other Short-Term Assets $52.70M $52.20M $30.70M
YoY Change 10.25% 27.94% -29.1%
Inventory $1.176B $1.101B $1.076B
Prepaid Expenses
Receivables $545.3M $525.9M $538.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.916B $1.804B $1.800B
YoY Change 8.45% 2.38% -7.8%
LONG-TERM ASSETS
Property, Plant & Equipment $2.496B $2.491B $2.492B
YoY Change -0.13% -0.93% -15.77%
Goodwill $531.4M $531.9M $643.5M
YoY Change -17.21% -17.46% -0.53%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $242.6M $248.2M $250.4M
YoY Change -7.65% -8.55% -17.31%
Total Long-Term Assets $3.270B $3.271B $3.386B
YoY Change -3.93% -4.64% -13.37%
TOTAL ASSETS
Total Short-Term Assets $1.916B $1.804B $1.800B
Total Long-Term Assets $3.270B $3.271B $3.386B
Total Assets $5.185B $5.075B $5.186B
YoY Change 0.3% -2.26% -11.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $420.1M $350.5M $355.5M
YoY Change 42.75% 22.9% 15.35%
Accrued Expenses $282.4M $286.7M $278.0M
YoY Change -8.7% -7.78% -4.4%
Deferred Revenue $69.70M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.10M $36.40M $67.50M
YoY Change -90.39% 574.07% 907.46%
Total Short-Term Liabilities $712.6M $673.6M $701.0M
YoY Change 0.55% 11.99% 15.73%
LONG-TERM LIABILITIES
Long-Term Debt $1.531B $1.878B $1.877B
YoY Change -13.62% 0.39% 0.35%
Other Long-Term Liabilities $73.20M $80.80M $83.30M
YoY Change -12.23% -6.26% -7.34%
Total Long-Term Liabilities $73.20M $80.80M $83.30M
YoY Change -12.23% -6.26% -7.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $712.6M $673.6M $701.0M
Total Long-Term Liabilities $73.20M $80.80M $83.30M
Total Liabilities $3.341B $3.628B $3.672B
YoY Change -10.32% -0.06% -2.39%
SHAREHOLDERS EQUITY
Retained Earnings $1.184B $1.183B $1.304B
YoY Change -7.27% -6.67% -27.84%
Common Stock $1.609B $1.207B $1.202B
YoY Change 34.11% 1.1% 1.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.10M $25.90M $25.40M
YoY Change -6.79% -7.17% -8.3%
Treasury Stock Shares 838.0K shares 832.1K shares 815.5K shares
Shareholders Equity $1.739B $1.348B $1.414B
YoY Change
Total Liabilities & Shareholders Equity $5.185B $5.075B $5.186B
YoY Change 0.3% -2.26% -11.51%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $1.700M -$121.2M $10.10M
YoY Change -82.83% -77.17% -153.72%
Depreciation, Depletion And Amortization $40.10M $40.10M $40.30M
YoY Change 0.0% -5.42% -7.78%
Cash From Operating Activities $76.20M $31.70M $24.70M
YoY Change 12.06% -140.59% -11.47%
INVESTING ACTIVITIES
Capital Expenditures -$37.40M -$30.00M -$30.50M
YoY Change 37.0% 1.35% -59.76%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$100.0K $700.0K
YoY Change -200.0% -133.33% -30.0%
Cash From Investing Activities -$37.50M -$30.10M -$29.80M
YoY Change 37.87% 2.73% -60.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.00M -31.30M -100.0K
YoY Change -5600.0% 18.11% -100.05%
NET CHANGE
Cash From Operating Activities 76.20M 31.70M 24.70M
Cash From Investing Activities -37.50M -30.10M -29.80M
Cash From Financing Activities -22.00M -31.30M -100.0K
Net Change In Cash 16.70M -29.70M -5.200M
YoY Change -59.47% -77.82% -103.14%
FREE CASH FLOW
Cash From Operating Activities $76.20M $31.70M $24.70M
Capital Expenditures -$37.40M -$30.00M -$30.50M
Free Cash Flow $113.6M $61.70M $55.20M
YoY Change 19.2% -227.22% -46.77%

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36600000 USD
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5100000 USD
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3400000 USD
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CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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8600000 USD
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10400000 USD
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14300000 USD
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51800000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
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CY2015 us-gaap Increase Decrease In Accrued Income Taxes Payable
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55800000 USD
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
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9300000 USD
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
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-1900000 USD
CY2015 us-gaap Increase Decrease In Inventories
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-201200000 USD
CY2016 us-gaap Increase Decrease In Inventories
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CY2017 us-gaap Increase Decrease In Inventories
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139200000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
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19000000 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
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-600000 USD
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
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CY2016 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
CY2017 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
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2200000 USD
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4700000 USD
CY2017 us-gaap Interest Costs Capitalized
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2600000 USD
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111400000 USD
CY2016 us-gaap Interest Expense Debt
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125400000 USD
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134900000 USD
CY2015 us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
CY2016 us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
CY2017 us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
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113400000 USD
CY2016 us-gaap Interest Paid
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127200000 USD
CY2017 us-gaap Interest Paid
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36200000 USD
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CY2017Q4 us-gaap Inventory Finished Goods
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165000000 USD
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CY2017Q4 us-gaap Inventory Lifo Reserve
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CY2016 us-gaap Inventory Lifo Reserve Period Charge
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39100000 USD
CY2017 us-gaap Inventory Lifo Reserve Period Charge
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54200000 USD
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CY2017Q4 us-gaap Inventory Net
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1176100000 USD
CY2016Q4 us-gaap Inventory Raw Materials And Supplies
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149600000 USD
CY2017Q4 us-gaap Inventory Raw Materials And Supplies
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162800000 USD
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169000000 USD
CY2017Q4 us-gaap Inventory Valuation Reserves
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121500000 USD
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955500000 USD
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1200000 USD
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1400000 USD
CY2017 us-gaap Investment Income Interest
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1100000 USD
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736300000 USD
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821200000 USD
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31400000 USD
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31700000 USD
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23100000 USD
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22600000 USD
CY2017 us-gaap Lease And Rental Expense
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21100000 USD
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5170000000 USD
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5185400000 USD
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708700000 USD
CY2017Q4 us-gaap Liabilities Current
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712600000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
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1771900000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
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1530600000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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10100000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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387700000.0 USD
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500500000 USD
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1100000 USD
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4500000 USD
CY2017Q4 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
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15000000 USD
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89600000 USD
CY2017Q4 us-gaap Minority Interest
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105100000 USD
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16000000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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16000000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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8000000 USD
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131400000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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22400000 USD
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CY2016Q1 us-gaap Net Income Loss
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100000 USD
CY2016Q4 us-gaap Money Market Funds At Carrying Value
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65500000 USD
CY2017Q4 us-gaap Money Market Funds At Carrying Value
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1400000 USD
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
323500000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9200000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016Q3 us-gaap Net Income Loss
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CY2016Q4 us-gaap Net Income Loss
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9900000 USD
CY2016 us-gaap Net Income Loss
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CY2017Q1 us-gaap Net Income Loss
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17500000 USD
CY2017Q2 us-gaap Net Income Loss
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10100000 USD
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CY2017Q4 us-gaap Net Income Loss
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1700000 USD
CY2017 us-gaap Net Income Loss
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12000000 USD
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13800000 USD
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12200000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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3700000 USD
CY2016Q4 us-gaap Notes Payable Related Parties Classified Current
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0 USD
CY2017Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 USD
CY2016Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
0 USD
CY2017Q4 us-gaap Notes Payable Related Parties Noncurrent
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0 USD
CY2016Q4 us-gaap Notes Receivable Related Parties Current
NotesReceivableRelatedPartiesCurrent
0 USD
CY2017Q4 us-gaap Notes Receivable Related Parties Current
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0 USD
CY2016Q4 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
0 USD
CY2017Q4 us-gaap Notes Receivable Related Parties Noncurrent
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0 USD
CY2017 us-gaap Number Of Reportable Segments
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2 segment
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CY2016 us-gaap Operating Income Loss
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CY2017 us-gaap Operating Income Loss
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20000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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6200000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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11300000 USD
CY2015 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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6200000 USD
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12500000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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13500000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2017Q4 us-gaap Other Assets Current
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CY2017Q4 us-gaap Other Assets Noncurrent
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CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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39100000 USD
CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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-1600000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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-121700000 USD
CY2016 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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10100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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-32000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
19600000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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7100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
9500000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-37000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-47100000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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39100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
73500000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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-5600000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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-9700000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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7600000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-83100000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-79200000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
65900000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
19700000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
61400000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-27300000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-95800000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-92100000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-42700000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-5100000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-43900000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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18200000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-7900000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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7200000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-75000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-75000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-71600000 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-33300000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
21200000 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
14300000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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83400000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
73200000 USD
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1600000 USD
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2400000 USD
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000000 USD
CY2016Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
317700000 USD
CY2017Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
317800000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
100000 USD
CY2016 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2200000 USD
CY2017 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3100000 USD
CY2015 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
1400000 USD
CY2016 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
0 USD
CY2017 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
4800000 USD
CY2016 us-gaap Payments For Restructuring
PaymentsForRestructuring
23800000 USD
CY2017 us-gaap Payments For Restructuring
PaymentsForRestructuring
28800000 USD
CY2015 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2016 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2017 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
35800000 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
10400000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
800000 USD
CY2015 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
66500000 USD
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25800000 USD
CY2017 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2015 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
16000000 USD
CY2016 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
16000000 USD
CY2017 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
8000000 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
500000 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
144500000 USD
CY2016 us-gaap Payments To Acquire Productive Assets
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5600000 shares
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4300000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company markets its products to a diverse customer base, principally throughout the United States. No single customer accounted for more than 10% of sales for any year presented. The principal end markets for the ATI&#8217;s products are customers in the aerospace &amp; defense, oil &amp; gas, electrical energy, automotive, construction and mining, food equipment and appliances, and medical markets.</font></div></div>
CY2017 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pending Accounting Pronouncements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2018, the FASB issued limited changes to accounting standards to address the income tax accounting for certain provisions of the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;).&#160; Accounting standards require the effect of a change in tax laws or rates on deferred tax assets and liabilities to be included in income from continuing operations in the reporting period that the change was enacted, including tax effects that were initially recognized directly in other comprehensive income at the previous rate. This results in stranded amounts in accumulated other comprehensive income (AOCI) related to the income tax rate differential, as the net-of-tax AOCI balance is not adjusted for the tax rate change.&#160; This new accounting guidance provides the option to make a one-time reclassification from AOCI to retained earnings for stranded tax effects resulting from the newly enacted U.S. federal tax rate under the Tax Act, calculated on the basis of the difference between the historical and newly enacted U.S. federal tax rate on deferred tax assets and liabilities related to items within AOCI.&#160; Adoption of the new accounting guidance is not required, and the Company has elected not to adopt this new guidance.&#160; </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the FASB issued changes to its accounting guidance for derivatives and hedging, which changes both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. Some changes resulting from this new guidance include the elimination of the concept of recognizing periodic hedge ineffectiveness for cash flow hedges, changes to the recognition and presentation of changes in the fair value of the hedging instrument, enhancement of the ability to use the critical-terms-match method for the cash flow hedge of groups of forecasted transactions when the timing of the hedged transactions does not perfectly match the hedging instrument&#8217;s maturity date, and the addition of new disclosure requirements and amendments to existing ones. This new guidance is effective for the Company&#8217;s 2019 fiscal year, with early adoption permitted and all transition requirements and elections being applied to hedging relationships existing on the date of adoption. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2017, the FASB issued changes to the accounting for defined benefit pension and other postretirement benefit expenses. This new guidance requires the disaggregation of the service cost component from the other components of net benefit cost. The service cost component of net benefit cost is to be reported in the same line item on the consolidated statement of operations as other compensation costs arising from services rendered by the pertinent employees, while the other components of net benefit cost are to be presented in the consolidated statement of operations separately, outside a subtotal of operating income. The amendments also provide explicit guidance to allow only the service cost component of net benefit cost to be eligible for capitalization. This new guidance is effective for the Company&#8217;s 2018 fiscal year, with the adoption of the change in presentation of net benefit cost in the consolidated statement of operations to be applied retrospectively, and the change in capitalization for only service cost applied prospectively. The guidance allows a practical expedient that permits the use of the amounts disclosed in the retirement benefits footnote for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company will adopt this new guidance in the first quarter of fiscal year 2018 using this practical expedient. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company expects such adoption to have a material impact to reported operating income in the consolidated statement of operations due to the change in presentation of non-service cost expense components. For example, applying the practical expedient to fiscal year 2017 results, operating income for 2017 would be </font><font style="font-family:inherit;font-size:10pt;">$54.3 million</font><font style="font-family:inherit;font-size:10pt;"> higher, with the reclassification of this amount representing the other components of net benefit cost to a newly-created non-operating retirement benefit expense category, with no net impact to the reported 2017 loss before income taxes. This statement of operations change in presentation of net benefit cost will not affect ATI&#8217;s measure of segment operating profit; all defined benefit pension and other postretirement benefit expense attributable to business segment operations remains a component of business segment financial performance. The Company expects to have a one-time, unfavorable impact of approximately </font><font style="font-family:inherit;font-size:10pt;">$6 million</font><font style="font-family:inherit;font-size:10pt;"> to pre-tax reported results in the first quarter of 2018 upon adoption primarily affecting the Flat Rolled Products business segment, due to the change limiting only the service cost component of net benefit cost to be capitalizable into inventory. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued new guidance on the accounting for leases. This new guidance will require that a lessee recognize assets and liabilities on the balance sheet for all leases with a lease term of more than twelve months, with the result being the recognition of a right of use asset and a lease liability. The new lease accounting requirements are effective for the Company&#8217;s 2019 fiscal year with a modified retrospective transition approach required, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued changes to revenue recognition with customers, which is required to be adopted by the Company in fiscal year 2018. This update provides a five-step analysis of transactions to determine when and how revenue is recognized, along with expanded disclosure requirements. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company will adopt this accounting standard update using the modified retrospective method, with the cumulative effect of initially applying this update recognized in the first reporting period of 2018. The Company has evaluated the impact of this standard on individual customer contracts and based on this evaluation determined that there are several customer agreements involving production of parts and components in the High Performance Materials and Components segment that require revenue to be recognized over time due to there being no alternative use for the product without significant economic loss and an enforceable right to payment including a normal profit margin from the customer in the event of contract termination. Over-time recognition is a change from current accounting, which is at a point-in-time for these products. As a result, the Company will recognize a </font><font style="font-family:inherit;font-size:10pt;">$15.5 million</font><font style="font-family:inherit;font-size:10pt;"> increase to retained earnings at the beginning of the 2018 fiscal year for the cumulative effect of applying the over-time revenue recognition to prior periods, representing the favorable impact to prior results had the over-time revenue recognition method been applied. Due to certain customer agreements with limited duration, 2018 gross profit is now expected to be lower by approximately </font><font style="font-family:inherit;font-size:10pt;">$5 million</font><font style="font-family:inherit;font-size:10pt;"> as a result of the cumulative effect adjustment for over-time recognition. There is no other significant impact to the Company upon adoption, with the exception of reclassifications to contract assets and liabilities on the consolidated balances sheet. As of January 1, 2018, total assets and total liabilities both increased by approximately </font><font style="font-family:inherit;font-size:10pt;">$33 million</font><font style="font-family:inherit;font-size:10pt;">, representing the reclassification of amounts recorded previously in accounts receivable and inventory to contract liabilities on the consolidated balance sheet. The Company also expects an increase to financial statement footnote disclosures in 2018 regarding revenues, contract assets and contract liabilities as a result of this accounting standard update.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Risks and Uncertainties and Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Management believes that the estimates are reasonable. Certain prior year amounts have been reclassified in order to conform with the </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> presentation.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div></div>

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