2015 Q4 Form 10-K Financial Statement

#000112297617000006 Filed on February 16, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $775.8M $841.6M $887.1M
YoY Change -10.76% -12.19% -11.78%
Cost Of Revenue $601.8M $672.5M $701.4M
YoY Change -16.39% -13.32% -14.57%
Gross Profit $156.9M $169.1M $185.7M
YoY Change 2.82% -7.39% 0.65%
Gross Profit Margin 20.22% 20.09% 20.93%
Selling, General & Admin $90.70M $99.90M $105.4M
YoY Change -42.16% -16.05% -21.98%
% of Gross Profit 57.81% 59.08% 56.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.30M $23.70M $25.00M
YoY Change -2.8% -11.24% -36.55%
% of Gross Profit 15.49% 14.02% 13.46%
Operating Expenses $90.70M $99.90M $105.4M
YoY Change -42.16% -16.05% -21.98%
Operating Profit $31.30M $69.20M $80.30M
YoY Change -318.88% 8.81% 62.55%
Interest Expense -$15.60M $16.20M $16.20M
YoY Change 0.0% 5.19% 3.18%
% of Operating Profit -49.84% 23.41% 20.17%
Other Income/Expense, Net $300.0K -$1.600M -$700.0K
YoY Change -123.08% -11.11% 75.0%
Pretax Income -$400.0K $51.40M $63.40M
YoY Change -98.72% 10.78% 90.39%
Income Tax -$3.400M $6.900M -$3.600M
% Of Pretax Income 13.42% -5.68%
Net Earnings $3.100M $44.50M $66.80M
YoY Change -121.23% 36.09% 110.73%
Net Earnings / Revenue 0.4% 5.29% 7.53%
Basic Earnings Per Share $0.51 $0.75
Diluted Earnings Per Share $35.80K $0.50 $0.74
COMMON SHARES
Basic Shares Outstanding 87.50M shares 88.90M shares
Diluted Shares Outstanding 88.40M shares 89.80M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $279.8M $235.7M $236.8M
YoY Change 17.27% -10.58% -9.45%
Cash & Equivalents $279.8M $235.7M $236.8M
Short-Term Investments
Other Short-Term Assets $47.00M $82.80M $83.50M
YoY Change -12.96% -6.65% -16.92%
Inventory $287.0M $285.9M $300.9M
Prepaid Expenses
Receivables $347.0M $407.3M $431.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $960.8M $1.012B $1.053B
YoY Change -3.77% -9.42% -10.7%
LONG-TERM ASSETS
Property, Plant & Equipment $399.9M $574.5M $581.8M
YoY Change -32.98% -3.54% -4.98%
Goodwill $453.0M $591.0M $591.8M
YoY Change -23.3% 3.98% 4.03%
Intangibles $344.6M $345.9M $350.9M
YoY Change -4.99% -1.11% -1.02%
Long-Term Investments
YoY Change
Other Assets $108.5M $114.3M $115.3M
YoY Change -7.97% -8.63% -12.65%
Total Long-Term Assets $1.660B $1.626B $1.640B
YoY Change -0.5% -0.81% -1.67%
TOTAL ASSETS
Total Short-Term Assets $960.8M $1.012B $1.053B
Total Long-Term Assets $1.660B $1.626B $1.640B
Total Assets $2.620B $2.637B $2.693B
YoY Change -1.73% -4.3% -5.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $351.6M $374.6M $396.9M
YoY Change -3.91% -8.19% -6.06%
Accrued Expenses $127.9M $125.2M $136.5M
YoY Change -26.03% -18.6% -20.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $18.60M $61.80M $61.80M
YoY Change -69.85% 371.76% 386.61%
Total Short-Term Liabilities $498.1M $561.6M $595.2M
YoY Change -17.05% -2.31% -1.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.128B $1.038B $996.4M
YoY Change 18.87% 7.48% 2.94%
Other Long-Term Liabilities $152.5M $150.8M $155.6M
YoY Change -14.47% -16.59% -14.69%
Total Long-Term Liabilities $1.392B $1.327B $1.298B
YoY Change 8.01% 1.06% -2.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $498.1M $561.6M $595.2M
Total Long-Term Liabilities $1.392B $1.327B $1.298B
Total Liabilities $1.890B $1.888B $1.893B
YoY Change 0.04% 0.03% -2.12%
SHAREHOLDERS EQUITY
Retained Earnings $367.1M
YoY Change 41.36%
Common Stock $1.200M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $748.4M
YoY Change 25.21%
Treasury Stock Shares 36.90M shares
Shareholders Equity $704.2M $747.9M $798.8M
YoY Change
Total Liabilities & Shareholders Equity $2.595B $2.637B $2.693B
YoY Change -2.67% -4.3% -5.41%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $3.100M $44.50M $66.80M
YoY Change -121.23% 36.09% 110.73%
Depreciation, Depletion And Amortization $24.30M $23.70M $25.00M
YoY Change -2.8% -11.24% -36.55%
Cash From Operating Activities $98.60M $68.70M $117.7M
YoY Change 28.72% -21.93% -0.84%
INVESTING ACTIVITIES
Capital Expenditures -$29.60M -$22.50M -$24.00M
YoY Change -7.79% -0.88% 17.07%
Acquisitions
YoY Change
Other Investing Activities -$17.20M $0.00 $800.0K
YoY Change -63.56% -100.0% 60.0%
Cash From Investing Activities -$46.80M -$22.50M -$23.20M
YoY Change -40.98% 3.21% 16.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.100M -42.20M -84.60M
YoY Change -70.24% -31.05% 12.05%
NET CHANGE
Cash From Operating Activities 98.60M 68.70M 117.7M
Cash From Investing Activities -46.80M -22.50M -23.20M
Cash From Financing Activities -6.100M -42.20M -84.60M
Net Change In Cash 45.70M 4.000M 9.900M
YoY Change -296.98% -20.0% -57.33%
FREE CASH FLOW
Cash From Operating Activities $98.60M $68.70M $117.7M
Capital Expenditures -$29.60M -$22.50M -$24.00M
Free Cash Flow $128.2M $91.20M $141.7M
YoY Change 17.94% -17.62% 1.8%

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165000000 USD
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1.97
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0.50
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0.40
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1.95
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1200000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2014 us-gaap Income Tax Expense Benefit
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11200000 USD
CY2015 us-gaap Income Tax Expense Benefit
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23000000 USD
CY2016 us-gaap Income Tax Expense Benefit
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57300000 USD
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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6900000 USD
CY2014 us-gaap Income Taxes Paid
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70000000 USD
CY2015 us-gaap Income Taxes Paid
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57700000 USD
CY2016 us-gaap Income Taxes Paid
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50300000 USD
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CY2015 us-gaap Increase Decrease In Accounts Payable
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12400000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
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17600000 USD
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CY2016 us-gaap Increase Decrease In Inventories
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CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1200000 shares
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900000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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700000 shares
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3700000 USD
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3500000 USD
CY2016Q2 us-gaap Insurance Recoveries
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5300000 USD
CY2016 us-gaap Insurance Recoveries
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6100000 USD
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CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2014 us-gaap Interest Expense
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CY2015 us-gaap Interest Expense
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64100000 USD
CY2016 us-gaap Interest Expense
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59800000 USD
CY2014 us-gaap Interest Expense Borrowings
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59800000 USD
CY2015 us-gaap Interest Expense Borrowings
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65900000 USD
CY2016 us-gaap Interest Expense Borrowings
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56300000 USD
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1100000 USD
CY2015 us-gaap Interest Income Expense Net
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1000000 USD
CY2016 us-gaap Interest Income Expense Net
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800000 USD
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CY2016Q4 us-gaap Interest Payable Current
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12100000 USD
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197400000 USD
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109300000 USD
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109200000 USD
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5000000 USD
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5800000 USD
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2595100000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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498100000 USD
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509600000 USD
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1488200000 USD
CY2015Q4 us-gaap Liability For Uncertain Tax Positions Current
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1500000 USD
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200000 USD
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14200000 USD
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CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1214600000 USD
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18500000 USD
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6700000 USD
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6700000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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6700000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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20900000 USD
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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208400000 USD
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227200000 USD
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221300000 USD
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CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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100000 USD
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CY2016 us-gaap Nonoperating Income Expense
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CY2015Q4 us-gaap Operating Income Loss
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100000 USD
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CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
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100000 USD
CY2016Q3 us-gaap Operating Income Loss
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CY2016 us-gaap Operating Income Loss
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CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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6400000 USD
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9400000 USD
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11900000 USD
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14800000 USD
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14700000 USD
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27100000 USD
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27000000 USD
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125200000 USD
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63100000 USD
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156100000 USD
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86200000 USD
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47200000 USD
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18300000 USD
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164200000 USD
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92800000 USD
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91200000 USD
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84200000 USD
CY2015Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
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5700000 USD
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5600000 USD
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0 USD
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CY2015Q4 us-gaap Preferred Stock Shares Authorized
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
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2400000 USD
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28200000 USD
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3000000 USD
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13000000 USD
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6000000 USD
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54500000 USD
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3500000 USD
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787700000 USD
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3339800000 USD
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CY2015 us-gaap Share Based Compensation
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CY2016 us-gaap Share Based Compensation
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6200000.0 shares
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5600000 USD
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5500000 USD
CY2014 us-gaap Stock Repurchased During Period Value
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233200000 USD
CY2015 us-gaap Stock Repurchased During Period Value
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156100000 USD
CY2016 us-gaap Stock Repurchased During Period Value
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86200000 USD
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978500000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
777200000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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705200000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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725500000 USD
CY2015Q4 us-gaap Taxes Payable Current
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4200000 USD
CY2016Q4 us-gaap Taxes Payable Current
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5500000 USD
CY2015Q4 us-gaap Treasury Stock Shares
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CY2016Q4 us-gaap Treasury Stock Shares
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39600000 shares
CY2014 us-gaap Treasury Stock Shares Acquired
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6300000.0 shares
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4500000.0 shares
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3000000.0 shares
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748400000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
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12500000 USD
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830600000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15200000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28600000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7900000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2300000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2300000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
15300000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
300000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
4500000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3300000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
14200000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1200000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
500000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
300000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3800000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
12600000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1200000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
13100000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
5400000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93500000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88700000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84600000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92300000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87800000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83900000 shares
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Reclassifications </font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Certain reclassifications of the prior period amounts and presentation have been made to conform to the presentation for the current period. </font></div></div>
CY2016 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:Arial;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.</font></div></div>

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