2022 Q2 Form 10-K Financial Statement

#000001469322000069 Filed on June 17, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 2021 Q2
Revenue $996.0M $3.933B $812.0M
YoY Change 22.66% 13.64% 14.53%
Cost Of Revenue $370.0M $1.542B $314.0M
YoY Change 17.83% 12.8% 22.66%
Gross Profit $626.0M $2.391B $498.0M
YoY Change 25.7% 14.18% 9.93%
Gross Profit Margin 62.85% 60.79% 61.33%
Selling, General & Admin $322.0M $690.0M $332.0M
YoY Change -3.01% 2.83% 37.19%
% of Gross Profit 51.44% 28.86% 66.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.00M $79.00M $19.00M
YoY Change 0.0% 2.6% 0.0%
% of Gross Profit 3.04% 3.3% 3.82%
Operating Expenses $380.0M $690.0M $330.0M
YoY Change 15.15% 2.83% 41.63%
Operating Profit $246.0M $1.204B $168.0M
YoY Change 46.43% 3.26% -23.64%
Interest Expense -$19.00M $82.00M -$19.00M
YoY Change 0.0% 1.23% -51.28%
% of Operating Profit -7.72% 6.81% -11.31%
Other Income/Expense, Net -$11.00M -$13.00M -$2.000M
YoY Change 450.0% 116.67% 0.0%
Pretax Income $216.0M $1.114B $147.0M
YoY Change 46.94% 3.05% -11.45%
Income Tax $65.00M $276.0M $27.00M
% Of Pretax Income 30.09% 24.78% 18.37%
Net Earnings $151.0M $838.0M $120.0M
YoY Change 25.83% -7.2% -6.25%
Net Earnings / Revenue 15.16% 21.31% 14.78%
Basic Earnings Per Share $1.75
Diluted Earnings Per Share $314.3K $1.74 $249.6K
COMMON SHARES
Basic Shares Outstanding 478.9M shares
Diluted Shares Outstanding 480.6M shares

Balance Sheet

Concept 2022 Q2 2022 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $868.0M $868.0M $1.150B
YoY Change -24.52% -24.52% 70.37%
Cash & Equivalents $868.0M $868.0M $1.150B
Short-Term Investments
Other Short-Term Assets $122.0M $277.0M $93.00M
YoY Change 31.18% 5.32% -33.57%
Inventory $1.818B $1.818B $1.751B
Prepaid Expenses
Receivables $813.0M $813.0M $753.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.776B $3.776B $3.917B
YoY Change -3.6% -3.6% 19.97%
LONG-TERM ASSETS
Property, Plant & Equipment $875.0M $949.0M $832.0M
YoY Change 5.17% 5.56% -1.89%
Goodwill $761.0M $779.0M
YoY Change -2.31% 3.04%
Intangibles $586.0M $676.0M
YoY Change -13.31% 6.46%
Long-Term Investments
YoY Change
Other Assets $301.0M $301.0M $248.0M
YoY Change 21.37% 19.92% 0.4%
Total Long-Term Assets $2.597B $2.597B $2.605B
YoY Change -0.31% -0.31% 4.16%
TOTAL ASSETS
Total Short-Term Assets $3.776B $3.776B $3.917B
Total Long-Term Assets $2.597B $2.597B $2.605B
Total Assets $6.373B $6.373B $6.522B
YoY Change -2.28% -2.28% 13.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $703.0M $218.0M $679.0M
YoY Change 3.53% 26.74% 35.53%
Accrued Expenses $485.0M $485.0M $507.0M
YoY Change -4.34% -4.34% 31.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $205.0M
YoY Change -100.0% -100.0% -38.44%
Long-Term Debt Due $250.0M $250.0M $0.00
YoY Change
Total Short-Term Liabilities $1.034B $1.034B $918.0M
YoY Change 12.64% 12.64% 4.32%
LONG-TERM LIABILITIES
Long-Term Debt $2.019B $2.019B $2.354B
YoY Change -14.23% -14.23% 3.75%
Other Long-Term Liabilities $181.0M $364.0M $206.0M
YoY Change -12.14% -14.35% 22.62%
Total Long-Term Liabilities $2.200B $2.383B $2.560B
YoY Change -14.06% -14.25% 5.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.034B $1.034B $918.0M
Total Long-Term Liabilities $2.200B $2.383B $2.560B
Total Liabilities $3.636B $3.636B $3.866B
YoY Change -5.95% -5.95% 1.98%
SHAREHOLDERS EQUITY
Retained Earnings $3.242B $3.243B
YoY Change -0.03% 19.76%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $225.0M $237.0M
YoY Change -5.06% -8.14%
Treasury Stock Shares 5.511M shares 5.803M shares
Shareholders Equity $2.737B $2.737B $2.656B
YoY Change
Total Liabilities & Shareholders Equity $6.373B $6.373B $6.522B
YoY Change -2.28% -2.28% 13.11%

Cashflow Statement

Concept 2022 Q2 2022 2021 Q2
OPERATING ACTIVITIES
Net Income $151.0M $838.0M $120.0M
YoY Change 25.83% -7.2% -6.25%
Depreciation, Depletion And Amortization $19.00M $79.00M $19.00M
YoY Change 0.0% 2.6% 0.0%
Cash From Operating Activities $253.0M $936.0M $245.0M
YoY Change 3.27% 14.57% 13.95%
INVESTING ACTIVITIES
Capital Expenditures -$65.00M $138.0M -$22.00M
YoY Change 195.45% 122.58% -26.67%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $1.000M -$11.00M $0.00
YoY Change -466.67%
Cash From Investing Activities -$64.00M -$127.0M -$22.00M
YoY Change 190.91% -229.59% -26.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -108.0M -$1.038B -191.0M
YoY Change -43.46% 114.02% -181.28%
NET CHANGE
Cash From Operating Activities 253.0M $936.0M 245.0M
Cash From Investing Activities -64.00M -$127.0M -22.00M
Cash From Financing Activities -108.0M -$1.038B -191.0M
Net Change In Cash 81.00M -$276.0M 32.00M
YoY Change 153.13% -158.11% -92.38%
FREE CASH FLOW
Cash From Operating Activities $253.0M $936.0M $245.0M
Capital Expenditures -$65.00M $138.0M -$22.00M
Free Cash Flow $318.0M $798.0M $267.0M
YoY Change 19.1% 5.7% 8.98%

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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2022 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2022 us-gaap Asset Impairment Charges
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CY2022 us-gaap Depreciation And Amortization
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2021 us-gaap Share Based Compensation
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CY2022 us-gaap Share Based Compensation
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Other Noncash Income Expense
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Other Current Assets
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2020 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2021 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2022 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2021 us-gaap Proceeds From Divestiture Of Businesses
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CY2022 us-gaap Proceeds From Divestiture Of Businesses
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CY2020 us-gaap Payments For Proceeds From Other Investing Activities
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CY2021 us-gaap Payments For Proceeds From Other Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
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CY2022 us-gaap Proceeds From Short Term Debt Maturing In More Than Three Months
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CY2020 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2021 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2022 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Dividends Common Stock Cash
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70000000 USD
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Estimates. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To prepare financial statements that conform with GAAP, our management must make informed estimates that affect how we report revenues, expenses, assets, and liabilities, including contingent assets and liabilities. Actual results could differ from these estimates.</span>
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CY2022Q2 us-gaap Prepaid Taxes
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CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2022Q2 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
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37000000 USD
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227000000 USD
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150000000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020 bfb Net Income Loss Available To Common Stockholders Basic And Diluted
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CY2021 bfb Net Income Loss Available To Common Stockholders Basic And Diluted
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903000000 USD
CY2022 bfb Net Income Loss Available To Common Stockholders Basic And Diluted
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838000000 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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478527000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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478879000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2150000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1686000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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480409000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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480677000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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480565000 shares
CY2020 us-gaap Earnings Per Share Basic
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1.73
CY2021 us-gaap Earnings Per Share Basic
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1.89
CY2022 us-gaap Earnings Per Share Basic
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1.75
CY2020 us-gaap Earnings Per Share Diluted
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1.72
CY2021 us-gaap Earnings Per Share Diluted
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1.88
CY2022 us-gaap Earnings Per Share Diluted
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1.74
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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301000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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234000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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691000 shares
CY2020Q2 us-gaap Goodwill
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635000000 USD
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4000000 USD
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1000000 USD
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8000000 USD
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19000000 USD
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34000000 USD
CY2021Q2 us-gaap Goodwill
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676000000 USD
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-18000000 USD
CY2022 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
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-38000000 USD
CY2022 us-gaap Goodwill Impairment Loss
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0 USD
CY2022 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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52000000 USD
CY2022Q2 us-gaap Goodwill
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761000000 USD
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2022Q2 us-gaap Long Term Debt
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CY2021Q2 us-gaap Long Term Debt Noncurrent
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2354000000 USD
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250000000 USD
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CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2021Q2 us-gaap Commercial Paper
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CY2022Q2 bfb Commercial Paper Weighted Average Interest Rateat Pointin Time
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P24D
CY2022 bfb Commercial Paper Borrowings Average Remaining Maturity
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CY2020 us-gaap Share Based Compensation
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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12000000 USD
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12000000 USD
CY2022 us-gaap Defined Contribution Plan Cost Recognized
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CY2022 us-gaap Share Based Compensation
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021 bfb Share Based Compensation Arrangement By Award Stock Settled Appreciation Rights Exercises In Period Intrinsic Value
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CY2022 bfb Share Based Compensation Arrangement By Award Stock Settled Appreciation Rights Exercises In Period Intrinsic Value
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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13000000 USD
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 bfb Effective Income Tax Rate Reconciliation Prior Intercompany Sales Taxed At Higher Than Current Us Federal Statutory Rate
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0
CY2021 bfb Effective Income Tax Rate Reconciliation Prior Intercompany Sales Taxed At Higher Than Current Us Federal Statutory Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Assets
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Assets
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
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90000000 USD
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
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CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
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214000000 USD
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219000000 USD
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87000000 USD
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CY2022Q2 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2022Q2 us-gaap Deferred Tax Liabilities Derivatives
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2021Q2 us-gaap Unrecognized Tax Benefits
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CY2022Q2 us-gaap Unrecognized Tax Benefits
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CY2021 us-gaap Proceeds From Divestiture Of Businesses
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CY2021Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation
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CY2021 us-gaap Maximum Remaining Maturity Of Foreign Currency Derivatives1
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CY2022 us-gaap Maximum Remaining Maturity Of Foreign Currency Derivatives1
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CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
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