2015 Q1 Form 10-K Financial Statement

#000070198515000006 Filed on March 20, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1 2013 Q4
Revenue $4.069B $3.818B $2.171B
YoY Change 6.57% -0.99% 5.9%
Cost Of Revenue $2.234B $2.176B $1.314B
YoY Change 2.67% 1.73% 7.27%
Gross Profit $1.835B $1.642B $857.0M
YoY Change 11.75% -4.37% 3.88%
Gross Profit Margin 45.1% 43.01% 39.47%
Selling, General & Admin $878.0M $779.0M $646.0M
YoY Change 12.71% -6.82% 1.25%
% of Gross Profit 47.85% 47.44% 75.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.0M $108.0M $96.00M
YoY Change 2.78% 5.88% 1.05%
% of Gross Profit 6.05% 6.58% 11.2%
Operating Expenses $878.0M $779.0M $646.0M
YoY Change 12.71% -6.82% 1.25%
Operating Profit $957.0M $863.0M $211.0M
YoY Change 10.89% -2.04% 12.83%
Interest Expense -$78.00M -$82.00M $76.00M
YoY Change -4.88% 0.0% -1.3%
% of Operating Profit -8.15% -9.5% 36.02%
Other Income/Expense, Net $1.000M $6.000M $7.000M
YoY Change -83.33% 20.0% -61.11%
Pretax Income $880.0M $787.0M $142.0M
YoY Change 11.82% 10.69% 10.94%
Income Tax $315.0M $297.0M $50.00M
% Of Pretax Income 35.8% 37.74% 35.21%
Net Earnings $565.0M $490.0M $92.00M
YoY Change 15.31% 19.22% 24.32%
Net Earnings / Revenue 13.89% 12.83% 4.24%
Basic Earnings Per Share $1.93 $1.69 $0.32
Diluted Earnings Per Share $1.89 $1.65 $0.31
COMMON SHARES
Basic Shares Outstanding 292.4M shares 291.0M shares 290.0M shares
Diluted Shares Outstanding 297.0M shares

Balance Sheet

Concept 2015 Q1 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.681B $1.519B $425.0M
YoY Change 10.66% 96.51% -22.3%
Cash & Equivalents $1.681B $1.681B $425.0M
Short-Term Investments
Other Short-Term Assets $230.0M $194.0M $237.0M
YoY Change 18.56% -1.02% 9.22%
Inventory $1.036B $1.165B $1.643B
Prepaid Expenses
Receivables $252.0M $244.0M $245.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.199B $3.150B $2.580B
YoY Change 1.56% 42.86% 3.82%
LONG-TERM ASSETS
Property, Plant & Equipment $2.277B $2.045B $2.078B
YoY Change 11.34% 13.42% 12.87%
Goodwill $1.318B $1.318B $1.318B
YoY Change 0.0% 0.0% -0.9%
Intangibles $411.0M $411.0M $411.0M
YoY Change 0.0% -0.24% -16.8%
Long-Term Investments $101.0M $105.0M
YoY Change -3.81%
Other Assets $247.0M $274.0M $249.0M
YoY Change -9.85% -2.49% -10.11%
Total Long-Term Assets $4.277B $3.978B $4.056B
YoY Change 7.52% 4.3% 2.89%
TOTAL ASSETS
Total Short-Term Assets $3.199B $3.150B $2.580B
Total Long-Term Assets $4.277B $3.978B $4.056B
Total Assets $7.476B $7.128B $6.636B
YoY Change 4.88% 18.42% 3.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $613.0M $599.0M $799.0M
YoY Change 2.34% 10.72% 9.15%
Accrued Expenses $900.0M $787.0M $702.0M
YoY Change 14.36% -2.48% -2.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $215.0M $216.0M
YoY Change -100.0% 278.95%
Total Short-Term Liabilities $1.679B $1.826B $1.734B
YoY Change -8.05% 18.73% 14.68%
LONG-TERM LIABILITIES
Long-Term Debt $4.722B $4.761B $4.762B
YoY Change -0.82% 6.34% 6.34%
Other Long-Term Liabilities $820.0M $770.0M $766.0M
YoY Change 6.49% -5.87% -1.54%
Total Long-Term Liabilities $5.542B $5.531B $5.528B
YoY Change 0.2% 4.46% 5.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.679B $1.826B $1.734B
Total Long-Term Liabilities $5.542B $5.531B $5.528B
Total Liabilities $7.221B $7.357B $7.262B
YoY Change -1.85% 7.67% 7.3%
SHAREHOLDERS EQUITY
Retained Earnings $233.0M -$118.0M -$519.0M
YoY Change -297.46% -82.44% 268.09%
Common Stock $582.0M $456.0M $420.0M
YoY Change 27.63% 34.91% 44.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $832.0M $748.0M $740.0M
YoY Change 11.23% 9.2% 10.12%
Treasury Stock Shares 18.00M shares 16.00M shares 16.00M shares
Shareholders Equity $18.00M -$370.0M -$820.0M
YoY Change
Total Liabilities & Shareholders Equity $7.476B $7.198B $6.636B
YoY Change 3.86% 19.59% 3.25%

Cashflow Statement

Concept 2015 Q1 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $565.0M $490.0M $92.00M
YoY Change 15.31% 19.22% 24.32%
Depreciation, Depletion And Amortization $111.0M $108.0M $96.00M
YoY Change 2.78% 5.88% 1.05%
Cash From Operating Activities $1.416B $1.279B -$385.0M
YoY Change 10.71% 0.24% 196.15%
INVESTING ACTIVITIES
Capital Expenditures $130.0M $93.00M $215.0M
YoY Change 39.78% -4.12% 32.72%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$13.00M $47.00M
YoY Change -107.69% -135.14% 422.22%
Cash From Investing Activities -$129.0M -$106.0M -$168.0M
YoY Change 21.7% 76.67% 9.8%
FINANCING ACTIVITIES
Cash Dividend Paid $100.0M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -344.0M -78.00M 426.0M
YoY Change 341.03% -92.11% -217.03%
NET CHANGE
Cash From Operating Activities 1.416B 1.279B -385.0M
Cash From Investing Activities -129.0M -106.0M -168.0M
Cash From Financing Activities -344.0M -78.00M 426.0M
Net Change In Cash 943.0M 1.095B -127.0M
YoY Change -13.88% 382.38% -80.37%
FREE CASH FLOW
Cash From Operating Activities $1.416B $1.279B -$385.0M
Capital Expenditures $130.0M $93.00M $215.0M
Free Cash Flow $1.286B $1.186B -$600.0M
YoY Change 8.43% 0.59% 105.48%

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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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CY2013Q2 us-gaap Net Income Loss
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CY2013Q3 us-gaap Net Income Loss
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CY2013Q4 us-gaap Net Income Loss
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CY2014Q1 us-gaap Net Income Loss
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CY2014 us-gaap Net Income Loss
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CY2014Q2 us-gaap Net Income Loss
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CY2014Q3 us-gaap Net Income Loss
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CY2014Q4 us-gaap Net Income Loss
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CY2015Q1 us-gaap Net Income Loss
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CY2015 us-gaap Net Income Loss
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3 Reportable_Segments
CY2013 us-gaap Operating Income Loss
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CY2013Q2 us-gaap Operating Income Loss
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CY2013Q3 us-gaap Operating Income Loss
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CY2013Q4 us-gaap Operating Income Loss
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CY2014Q1 us-gaap Operating Income Loss
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CY2014 us-gaap Operating Income Loss
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CY2014Q2 us-gaap Operating Income Loss
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CY2014Q3 us-gaap Operating Income Loss
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CY2014Q4 us-gaap Operating Income Loss
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CY2015Q1 us-gaap Operating Income Loss
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CY2015 us-gaap Operating Income Loss
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364000000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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413000000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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494000000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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556000000 USD
CY2015Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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60000000 USD
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59000000 USD
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63000000 USD
CY2013 us-gaap Operating Leases Rent Expense Minimum Rentals
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CY2014 us-gaap Operating Leases Rent Expense Minimum Rentals
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482000000 USD
CY2015 us-gaap Operating Leases Rent Expense Minimum Rentals
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516000000 USD
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168000000 USD
CY2015Q1 us-gaap Other Accrued Liabilities Current
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185000000 USD
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194000000 USD
CY2015Q1 us-gaap Other Assets Current
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230000000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
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274000000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
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CY2014 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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34000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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40000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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21000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
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4000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
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36000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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50000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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60000000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
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CY2015Q1 us-gaap Other Liabilities Noncurrent
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10000000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
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CY2013 us-gaap Payments For Repurchase Of Common Stock
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629000000 USD
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60000000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
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87000000 USD
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73000000 USD
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73000000 USD
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361000000 USD
us-gaap Payments Of Dividends Common Stock
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CY2013 us-gaap Payments Of Dividends Common Stock
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1449000000 USD
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87000000 USD
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87000000 USD
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87000000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
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CY2014 us-gaap Payments Of Dividends Common Stock
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349000000 USD
CY2014Q2 us-gaap Payments Of Dividends Common Stock
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392000000 USD
CY2014Q3 us-gaap Payments Of Dividends Common Stock
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99000000 USD
CY2014Q4 us-gaap Payments Of Dividends Common Stock
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100000000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
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100000000 USD
CY2015 us-gaap Payments Of Dividends Common Stock
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691000000 USD
CY2013 us-gaap Payments Of Financing Costs
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0 USD
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CY2015 us-gaap Payments Of Financing Costs
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CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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691000000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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715000000 USD
CY2014Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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1
CY2014Q1 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2014Q1 us-gaap Preferred Stock Shares Issued
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0 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
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0 shares
CY2014Q1 us-gaap Preferred Stock Value
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CY2015Q1 us-gaap Preferred Stock Value
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CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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495000000 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2013 us-gaap Proceeds From Long Term Lines Of Credit
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0 USD
CY2014 us-gaap Proceeds From Long Term Lines Of Credit
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290000000 USD
CY2015 us-gaap Proceeds From Long Term Lines Of Credit
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5000000 USD
CY2013 us-gaap Profit Loss
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CY2014 us-gaap Profit Loss
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903000000 USD
CY2015 us-gaap Profit Loss
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1042000000 USD
CY2014Q1 us-gaap Property Plant And Equipment Gross
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5101000000 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
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5480000000 USD
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2045000000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
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2277000000 USD
CY2014 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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50000000 USD
CY2015 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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60000000 USD
CY2013 us-gaap Repayments Of Long Term Debt
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57000000 USD
CY2014 us-gaap Repayments Of Long Term Debt
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0 USD
CY2015 us-gaap Repayments Of Long Term Debt
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213000000 USD
CY2013 us-gaap Repayments Of Long Term Lines Of Credit
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CY2014 us-gaap Repayments Of Long Term Lines Of Credit
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290000000 USD
CY2015 us-gaap Repayments Of Long Term Lines Of Credit
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5000000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q2 us-gaap Sales Revenue Net
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CY2013Q3 us-gaap Sales Revenue Net
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CY2013Q4 us-gaap Sales Revenue Net
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CY2014Q1 us-gaap Sales Revenue Net
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CY2014 us-gaap Sales Revenue Net
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CY2014Q3 us-gaap Sales Revenue Net
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CY2014Q4 us-gaap Sales Revenue Net
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CY2015Q1 us-gaap Sales Revenue Net
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CY2015 us-gaap Sales Revenue Net
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CY2013 us-gaap Selling General And Administrative Expense
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CY2014 us-gaap Selling General And Administrative Expense
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CY2015 us-gaap Selling General And Administrative Expense
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CY2013 us-gaap Share Based Compensation
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CY2014 us-gaap Share Based Compensation
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
309000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
43.21
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1760000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
54.03
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7395000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6773000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
34.82
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
41.06
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2209000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
25.30
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.027
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.034
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.030
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.47
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.35
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.010
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.008
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
146000000 shares
CY2012Q1 us-gaap Unrecognized Tax Benefits
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146000000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits
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185000000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
12000000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2885000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.38
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
195000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1112000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
276675000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6204000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5773000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
29.14
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
34.93
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
270589000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5582000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
34.38
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
24.84
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
47.80
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
59.76
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M18D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y8M12D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y6M26D
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
177220000 USD
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y6M20D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M20D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y3M22D
CY2015Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Estimated Range Of Change Upper Bound
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142000000 USD
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1462000 shares
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
165000000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
118000000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
126000000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
18000000 USD
CY2012Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
138000000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1014000000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-369000000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19000000 USD
CY2014Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
16000000 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
18000000 shares
CY2013 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
13773000 shares
CY2014 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1377000 shares
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1317000 shares
CY2014Q1 us-gaap Treasury Stock Value
TreasuryStockValue
748000000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
832000000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
625000000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
63000000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
84000000 USD
CY2015Q1 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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216000000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
167000000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
193000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
19000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
54000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
14000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
34000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
5000000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
30000000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
31000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
4000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
52000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
37000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
36000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
13000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
39000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
16000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
6000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
6000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
7000000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
160000000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
143000000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
170000000 USD
CY2014Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
1582000000 USD
CY2015Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
1364000000 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7000000 shares
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 shares
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
297000000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
296000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
298000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
302000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
306000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
309000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
290000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
290000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
292000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
12000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
16000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
17000000 shares
CY2015 us-gaap Nature Of Operations
NatureOfOperations
<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:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">L Brands, Inc. (&#8220;the Company&#8221;) operates in the highly competitive specialty retail business. The Company is a specialty retailer of women&#8217;s intimate and other apparel, beauty and personal care products and accessories. The Company sells its merchandise through company-owned specialty retail stores in the U.S., Canada and the U.K., which are primarily mall-based, and through its websites and other channels. The Company's other international operations are primarily through franchise, license and wholesale partners. The Company currently operates the following retail brands:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Victoria&#8217;s Secret</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Victoria's Secret PINK</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bath&#160;&amp; Body Works</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">La Senza</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Henri Bendel</font></div></td></tr></table></div>

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