2017 Q4 Form 8-K Financial Statement

#000088559018000055 Filed on August 10, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $2.163B $2.219B $2.233B
YoY Change -9.99% -10.49% -7.73%
Cost Of Revenue $647.0M $650.0M $635.0M
YoY Change -2.75% 0.15% -2.01%
Gross Profit $1.516B $1.569B $1.598B
YoY Change -12.74% -14.26% -9.82%
Gross Profit Margin 70.09% 70.71% 71.56%
Selling, General & Admin $639.0M $623.0M $659.0M
YoY Change -3.91% -5.75% -1.79%
% of Gross Profit 42.15% 39.71% 41.24%
Research & Development $90.00M $81.00M $94.00M
YoY Change -3.02% -19.8% -24.19%
% of Gross Profit 5.94% 5.16% 5.88%
Depreciation & Amortization $819.0M $698.0M $667.0M
YoY Change 15.84% -1.41% -7.36%
% of Gross Profit 54.02% 44.49% 41.74%
Operating Expenses $1.506B $704.0M $753.0M
YoY Change 32.57% -7.61% -5.28%
Operating Profit -$322.0M $38.00M $175.0M
YoY Change -314.67% -104.4% 116.05%
Interest Expense -$425.0M -$437.0M -$417.0M
YoY Change -16.73% -6.9% -8.81%
% of Operating Profit -1150.0% -238.29%
Other Income/Expense, Net $325.0M $19.00M
YoY Change -32600.0% -58.7%
Pretax Income -$804.0M -$400.0M -$242.0M
YoY Change 123.27% -69.97% -35.81%
Income Tax -$341.0M -$1.700B -$205.0M
% Of Pretax Income
Net Earnings $513.0M $1.300B -$37.00M
YoY Change -199.69% -206.64% -87.83%
Net Earnings / Revenue 23.72% 58.58% -1.66%
Basic Earnings Per Share $1.46 $3.71 -$0.11
Diluted Earnings Per Share $1.45 $3.69 -$0.11
COMMON SHARES
Basic Shares Outstanding 348.6M shares 350.4M shares 350.1M shares
Diluted Shares Outstanding 352.3M shares 350.1M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $720.0M $964.0M $1.214B
YoY Change 32.84% 46.28% 42.49%
Cash & Equivalents $720.0M $964.0M $1.214B
Short-Term Investments
Other Short-Term Assets $848.0M $1.680B $1.598B
YoY Change -11.39% 66.83% 78.15%
Inventory $1.048B $1.071B $1.084B
Prepaid Expenses
Receivables $2.130B $2.229B $2.096B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.746B $5.944B $5.992B
YoY Change -6.52% 4.76% 2.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.403B $1.398B $1.373B
YoY Change 6.94% -4.38% -6.73%
Goodwill $15.59B $15.57B $15.89B
YoY Change -1.27% -10.76% -14.15%
Intangibles $15.21B $16.02B $17.52B
YoY Change -19.45% -21.87% -17.9%
Long-Term Investments
YoY Change
Other Assets $111.0M $152.0M $111.0M
YoY Change -39.67% -28.84% -49.41%
Total Long-Term Assets $32.75B $34.03B $35.74B
YoY Change -14.83% -15.11% -14.58%
TOTAL ASSETS
Total Short-Term Assets $4.746B $5.944B $5.992B
Total Long-Term Assets $32.75B $34.03B $35.74B
Total Assets $37.50B $39.97B $41.73B
YoY Change -13.86% -12.65% -12.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $365.0M $407.0M $371.0M
YoY Change 12.65% 13.47% -12.89%
Accrued Expenses $3.694B $3.396B $3.259B
YoY Change 14.47% 0.12% -2.29%
Deferred Revenue
YoY Change
Short-Term Debt $905.0M $684.0M $0.00
YoY Change 14983.33%
Long-Term Debt Due $209.0M $925.0M $813.0M
YoY Change 20800.0% 1467.8% 176.44%
Total Short-Term Liabilities $4.268B $4.728B $4.465B
YoY Change 18.26% 21.33% 5.65%
LONG-TERM LIABILITIES
Long-Term Debt $25.24B $26.22B $27.65B
YoY Change -15.45% -13.72% -10.16%
Other Long-Term Liabilities $526.0M $102.0M $104.0M
YoY Change 8.23% -38.18% -38.35%
Total Long-Term Liabilities $25.76B $26.32B $27.75B
YoY Change -15.07% -13.86% -10.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.268B $4.728B $4.465B
Total Long-Term Liabilities $25.76B $26.32B $27.75B
Total Liabilities $31.55B $34.55B $37.70B
YoY Change -21.65% -16.72% -10.78%
SHAREHOLDERS EQUITY
Retained Earnings -$2.725B -$3.239B -$4.539B
YoY Change -46.87% -29.8% 32.5%
Common Stock $10.47B $10.45B $10.44B
YoY Change 0.78% 0.9% 1.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.849B $5.327B $3.931B
YoY Change
Total Liabilities & Shareholders Equity $37.50B $39.97B $41.73B
YoY Change -13.86% -12.65% -12.44%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $513.0M $1.300B -$37.00M
YoY Change -199.69% -206.64% -87.83%
Depreciation, Depletion And Amortization $819.0M $698.0M $667.0M
YoY Change 15.84% -1.41% -7.36%
Cash From Operating Activities $578.0M $490.0M $268.0M
YoY Change 12.89% -13.88% -40.31%
INVESTING ACTIVITIES
Capital Expenditures -$72.00M -$48.00M -$47.00M
YoY Change 16.13% -47.25% -31.88%
Acquisitions
YoY Change
Other Investing Activities $162.0M $917.0M $827.0M
YoY Change 138.24% 4068.18% 594.96%
Cash From Investing Activities $90.00M $869.0M $780.0M
YoY Change 1400.0% -1359.42% 1460.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.842B -1.430B -249.0M
YoY Change 220.35% 105.16% -73.82%
NET CHANGE
Cash From Operating Activities $578.0M $490.0M $268.0M
Cash From Investing Activities 90.00M 869.0M 780.0M
Cash From Financing Activities -1.842B -1.430B -249.0M
Net Change In Cash $578.0M $490.0M $268.0M
YoY Change 12.89% -13.88% -40.31%
FREE CASH FLOW
Cash From Operating Activities $578.0M $490.0M $268.0M
Capital Expenditures -$72.00M -$48.00M -$47.00M
Free Cash Flow $650.0M $538.0M $315.0M
YoY Change 13.24% -18.48% -39.19%

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377000000 USD
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90 country
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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99000000 USD
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0 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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0 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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21000000 USD
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20000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
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0 USD
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
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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
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26000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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202000000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-1000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
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-630000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
217000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-17000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
23000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-15000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-3000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
4000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-4000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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486000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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526000000 USD
CY2015 us-gaap Other Noncash Income Expense
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33000000 USD
CY2016 us-gaap Other Noncash Income Expense
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2000000 USD
CY2017 us-gaap Other Noncash Income Expense
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26000000 USD
CY2015 us-gaap Other Nonoperating Income Expense
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-295000000 USD
CY2016 us-gaap Other Nonoperating Income Expense
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-73000000 USD
CY2015 us-gaap Other Operating Income Expense Net
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-295000000 USD
CY2017 us-gaap Other Nonoperating Income Expense
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353000000 USD
CY2016 us-gaap Other Operating Income Expense Net
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-73000000 USD
CY2017 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
353000000 USD
CY2015 us-gaap Payments For Legal Settlements
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33000000 USD
CY2016 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
69000000 USD
CY2017 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
221000000 USD
CY2015 us-gaap Payments For Previous Acquisition
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151000000 USD
CY2016 us-gaap Payments For Previous Acquisition
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123000000 USD
CY2017 us-gaap Payments For Previous Acquisition
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45000000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
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72000000 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
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CY2015 us-gaap Payments Of Debt Issuance Costs
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103000000 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
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97000000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
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110000000 USD
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
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18000000 USD
CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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88000000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11000000 USD
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4000000 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15458000000 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
19000000 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015 us-gaap Payments To Acquire Intangible Assets
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68000000 USD
CY2016 us-gaap Payments To Acquire Intangible Assets
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56000000 USD
CY2017 us-gaap Payments To Acquire Intangible Assets
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165000000 USD
CY2015 us-gaap Payments To Acquire Marketable Securities
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49000000 USD
CY2016 us-gaap Payments To Acquire Marketable Securities
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1000000 USD
CY2017 us-gaap Payments To Acquire Marketable Securities
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7000000 USD
CY2015 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
235000000 USD
CY2016 us-gaap Payments To Acquire Productive Assets
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235000000 USD
CY2017 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
171000000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
235000000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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235000000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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171000000 USD
CY2015 us-gaap Payments To Minority Shareholders
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9000000 USD
CY2016 us-gaap Payments To Minority Shareholders
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9000000 USD
CY2017 us-gaap Payments To Minority Shareholders
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18000000 USD
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CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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696000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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771000000 USD
CY2015 us-gaap Proceeds From Derivative Instrument Investing Activities
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184000000 USD
CY2016 us-gaap Proceeds From Derivative Instrument Investing Activities
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0 USD
CY2017 us-gaap Proceeds From Derivative Instrument Investing Activities
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0 USD
CY2015 us-gaap Proceeds From Insurance Settlement Operating Activities
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0 USD
CY2016 us-gaap Proceeds From Insurance Settlement Operating Activities
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0 USD
CY2017 us-gaap Proceeds From Insurance Settlement Operating Activities
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60000000 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
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0 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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17817000000 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1433000000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1220000000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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9424000000 USD
CY2015 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-3123000000 USD
CY2016 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
CY2017 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
CY2015 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
67000000 USD
CY2016 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
17000000 USD
CY2017 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2000000 USD
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13000000 USD
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
199000000 USD
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3253000000 USD
CY2015 us-gaap Proceeds From Short Term Debt
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8000000 USD
CY2016 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
3000000 USD
CY2017 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1000000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
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33000000 USD
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2015 us-gaap Profit Loss
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-288000000 USD
CY2016 us-gaap Profit Loss
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-2408000000 USD
CY2017 us-gaap Profit Loss
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2404000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
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2508000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2833000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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1312000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1403000000 USD
CY2016Q4 us-gaap Receivables Net Current
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2517000000 USD
CY2017Q4 us-gaap Receivables Net Current
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2130000000 USD
CY2015 us-gaap Repayments Of Long Term Debt
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2055000000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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2436000000 USD
CY2017 us-gaap Repayments Of Long Term Debt
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14203000000 USD
CY2015 us-gaap Repayments Of Short Term Debt
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8000000 USD
CY2016 us-gaap Repayments Of Short Term Debt
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3000000 USD
CY2017 us-gaap Repayments Of Short Term Debt
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8000000 USD
CY2016Q2 us-gaap Reporting Unit Percentage Of Fair Value In Excess Of Carrying Amount
ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount
0.15
CY2015 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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334000000 USD
CY2016 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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421000000 USD
CY2017 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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361000000 USD
CY2015 us-gaap Research And Development In Process
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106000000 USD
CY2016 us-gaap Research And Development In Process
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34000000 USD
CY2017 us-gaap Research And Development In Process
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5000000 USD
CY2015Q4 us-gaap Restricted Cash Current
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0 USD
CY2016Q4 us-gaap Restricted Cash Current
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0 USD
CY2017Q4 us-gaap Restricted Cash Current
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77000000 USD
CY2015 us-gaap Restructuring Charges
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362000000 USD
CY2016 us-gaap Restructuring Charges
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132000000 USD
CY2017 us-gaap Restructuring Charges
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52000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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-5129000000 USD
CY2015 us-gaap Revenues
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10447000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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-2725000000 USD
CY2016Q1 us-gaap Revenues
Revenues
2372000000 USD
CY2016Q2 us-gaap Revenues
Revenues
2420000000 USD
CY2016Q3 us-gaap Revenues
Revenues
2479000000 USD
CY2016Q4 us-gaap Revenues
Revenues
2403000000 USD
CY2016 us-gaap Revenues
Revenues
9674000000 USD
CY2017Q1 us-gaap Revenues
Revenues
2109000000 USD
CY2017Q2 us-gaap Revenues
Revenues
2233000000 USD
CY2017Q3 us-gaap Revenues
Revenues
2219000000 USD
CY2017Q4 us-gaap Revenues
Revenues
2163000000 USD
CY2017 us-gaap Revenues
Revenues
8724000000 USD
CY2015 us-gaap Royalty Revenue
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155000000 USD
CY2016 us-gaap Royalty Revenue
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138000000 USD
CY2017 us-gaap Royalty Revenue
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129000000 USD
CY2015 us-gaap Sales Revenue Goods Net
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10292000000 USD
CY2016 us-gaap Sales Revenue Goods Net
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9536000000 USD
CY2017 us-gaap Sales Revenue Goods Net
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8595000000 USD
CY2015 us-gaap Selling General And Administrative Expense
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2700000000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2810000000 USD
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2582000000 USD
CY2015 us-gaap Share Based Compensation
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140000000 USD
CY2016 us-gaap Share Based Compensation
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165000000 USD
CY2017 us-gaap Share Based Compensation
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87000000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2015Q1 us-gaap Stock Issued During Period Value New Issues
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1450000000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1482000000 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
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30000000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
33000000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2015 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
72000000 USD
CY2016Q4 us-gaap Stockholders Equity
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3152000000 USD
CY2017Q4 us-gaap Stockholders Equity
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CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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5401000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6029000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3258000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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5944000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
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345000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
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344000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
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423000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
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598000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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39000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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20000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
18000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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39000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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41000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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-7000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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16000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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145000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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2000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
5000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
23000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
96000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
57000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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5000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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13000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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9000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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185000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
273000000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
342700000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
347300000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
351800000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
342700000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
347300000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
350200000 shares
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Credit Risk </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and trade receivables.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company invests its excess cash in high-quality, money market instruments and term deposits with varying maturities, but typically less than </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading its risk across multiple counterparties and monitoring the risk profiles of these counterparties.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s trade receivables primarily represent amounts due from wholesale distributors, retail pharmacies, government entities and group purchasing organizations. Outside of the U.S., concentrations of credit risk with respect to trade receivables, which are typically unsecured, are limited due to the number of customers using the Company&#8217;s products, as well as their dispersion across many different geographic regions. The Company performs periodic credit evaluations of customers and does not require collateral. The Company monitors economic conditions, including volatility associated with international economies, and related impacts on the relevant financial markets and its business, especially in light of sovereign credit issues. The credit and economic conditions within Italy, Portugal, Spain, Greece, among other members of the European Union, Russia, Brazil, and Egypt have been weak in recent years. In November 2016, as a result of the Egyptian government&#8217;s decision to float the Egyptian pound and un-peg it to the U.S. Dollar, the Egyptian pound was significantly devalued.&#160; The Company's exposure to the Egyptian pound is with respect to the Amoun Pharmaceutical Company S.A.E. business acquired in October 2015, which represented approximately </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's 2017 and 2016 total revenues. These conditions have increased, and may continue to increase, the average length of time that it takes to collect on the Company&#8217;s trade receivables outstanding in these countries. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">An allowance for doubtful accounts is maintained for potential credit losses based on the aging of trade receivables, historical bad debts experience, and changes in customer payment patterns. Trade receivable balances are written off against the allowance when it is deemed probable that the receivable will not be&#160;collected.</font></div></div>
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;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-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Valeant Pharmaceuticals International,&#160;Inc. (the&#160;&#8220;Company&#8221;) is a multinational, specialty pharmaceutical and medical device company that develops, manufactures, and markets a broad range of branded, generic and branded generic pharmaceuticals, over-the-counter (&#8220;OTC&#8221;) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices) which are marketed directly or indirectly in over </font><font style="font-family:inherit;font-size:10pt;">90</font><font style="font-family:inherit;font-size:10pt;"> countries. Effective August 9, 2013, the Company continued from the federal jurisdiction of Canada to the Province of British Columbia, meaning that the Company became a company registered under the laws of the Province of British Columbia as if it had been incorporated under the laws of the Province of British Columbia. As a result of this continuance, the legal domicile of the Company became the Province of British Columbia, the Canada Business Corporations Act ceased to apply to the Company and the Company became subject to the British Columbia Business Corporations Act.</font></div></div>
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior year amounts to conform to the current year presentation. </font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognizes product sales revenue when persuasive evidence of an arrangement exists, delivery has occurred, collectability is reasonably assured, and the price to the buyer is fixed or determinable, the timing of which is based on the specific contractual terms with each customer. Delivery occurs when title has transferred to the customer, and the customer has assumed the risks and rewards of ownership. As such, the Company generally recognizes revenue on a sell-in basis (i.e., record revenue upon delivery); however, based upon specific terms and circumstances, the Company has determined that, for certain arrangements with certain retailers and other third parties, revenue should be recognized on a sell-through basis (i.e., record revenue when products are dispensed to patients). In evaluating the proper revenue recognition for sales transactions, the Company considers all relevant factors, including additional discounts or extended payment terms which the Company grants to certain customers, often near the end of quarterly periods.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue from product sales is recognized net of provisions for estimated cash discounts, allowances, returns, rebates, chargebacks and distribution fees paid to certain of the Company&#8217;s wholesale customers. The Company establishes these provisions concurrently with the recognition of product sales revenue. &#160;Price appreciation credits are generated when the Company increases a product&#8217;s wholesaler acquisition cost (&#8220;WAC&#8221;) under its contracts with certain wholesalers. Under such contracts, the Company is entitled to credits from such wholesalers for the impact of that WAC increase on inventory currently on hand at the wholesalers. Such credits, which can be significant, are used to offset against the total distribution service fees the Company pays on all of its products to each wholesaler. Net revenue on these credits is recognized on the date that the wholesaler is notified of the price increase. The Company offers cash discounts for prompt payment and allowances for volume purchases to customers. Provisions for cash discounts and allowances are estimated based on contractual sales terms with customers, an analysis of unpaid invoices, and historical payment experience. The Company generally allows customers to return product within a specified period of time before and after its expiration date, excluding the Company&#8217;s European businesses which generally do not carry a right of return. Provisions for returns are estimated based on historical sales and return levels, taking into account additional available information such as historical return and exchange levels, external data with respect to inventory levels in the wholesale distribution channel, external data with respect to prescription demand for the Company&#8217;s products, remaining shelf lives of the Company&#8217;s products at the date of sale and estimated returns liability to be processed by year of sale based on analysis of lot information related to actual historical returns. The Company reviews its methodology and adequacy of the provision for returns on a quarterly basis, adjusting for changes in assumptions, historical results and business practices, as necessary. The Company is subject to rebates on sales made under governmental and managed-care programs in the U.S., and chargebacks on sales made to government agencies, group purchasing organizations and other indirect customers. Provisions for rebates and chargebacks are estimated based on historical utilization levels, relevant statutes with respect to governmental pricing programs and contractual sales&#160;terms with managed-care providers and group purchasing organizations. Changes in the level of utilization of the Company&#8217;s products through private or public benefit plans and group purchasing organizations will impact the amount of rebates and chargebacks that the Company is obligated to pay.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is party to product manufacturing and supply agreements with a number of commercialization counterparties in the U.S.&#160;Under the terms of these agreements, the Company&#8217;s supply prices for its products are determined after taking into consideration estimates for future returns, rebates, and chargebacks provided by each counterparty. The Company makes adjustments, as needed, to state these estimates on a basis consistent with this policy and its methodology for estimating returns, rebates and chargebacks related to its own direct product&#160;sales.</font></div></div>

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