$BLUE
bluebird bio, Inc.

2018 Q2 Form 10-Q Financial Statement

#000156459018018678 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q4 2017 Q2
Revenue $7.851M $4.168M $16.72M
YoY Change -53.03% 168.56% 977.06%
Cost Of Revenue $21.00K $0.00 $420.0K
YoY Change -95.0%
Gross Profit $7.830M $4.200M $16.30M
YoY Change -51.95%
Gross Profit Margin 99.73% 100.77% 97.49%
Selling, General & Admin $41.20M $29.10M $21.20M
YoY Change 94.34% 79.63% 15.22%
% of Gross Profit 526.18% 692.86% 130.09%
Research & Development $115.0M $92.60M $64.31M
YoY Change 78.84% 62.17% 54.0%
% of Gross Profit 1468.89% 2204.76% 394.64%
Depreciation & Amortization $4.180M $3.640M $3.440M
YoY Change 21.51% 44.44% 39.27%
% of Gross Profit 53.38% 86.67% 21.11%
Operating Expenses $156.5M $120.9M $84.54M
YoY Change 85.08% 63.68% 37.4%
Operating Profit -$148.6M -$116.8M -$67.82M
YoY Change 119.12% 61.43% 13.08%
Interest Expense $2.436M $500.0K -$2.242M
YoY Change -208.65% -183.33% -328.54%
% of Operating Profit
Other Income/Expense, Net $182.0K -$100.0K -$834.0K
YoY Change -121.82% -111.11% 997.37%
Pretax Income -$146.0M -$117.0M -$70.90M
YoY Change 105.92% 63.87% 20.02%
Income Tax $106.2M $0.00
% Of Pretax Income
Net Earnings -$146.0M -$117.2M -$70.90M
YoY Change 105.92% 64.27% 20.48%
Net Earnings / Revenue -1859.58% -2812.57% -424.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.908M -$2.515M -$1.729M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q4 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.077B $1.290B $1.095B
YoY Change -1.68% 83.15% 90.24%
Cash & Equivalents $333.9M $758.5M $686.3M
Short-Term Investments $743.0M $531.6M $409.1M
Other Short-Term Assets $28.80M $29.60M $18.80M
YoY Change 53.19% 859.48% 164.79%
Inventory
Prepaid Expenses $21.17M $15.04M
Receivables $4.635M
Other Receivables
Total Short-Term Assets $1.106B $1.323B $1.119B
YoY Change -1.15% 82.65% 91.91%
LONG-TERM ASSETS
Property, Plant & Equipment $219.2M $199.6M $180.4M
YoY Change 21.49% 27.17% 65.07%
Goodwill $13.13M $13.13M
YoY Change 0.0%
Intangibles $16.93M $18.81M
YoY Change -18.18%
Long-Term Investments $380.3M $324.2M $101.6M
YoY Change 274.31% 79.61% -50.0%
Other Assets $28.10M $23.94M $24.50M
YoY Change 14.69% 5.56% 131.13%
Total Long-Term Assets $655.8M $577.8M $338.5M
YoY Change 93.73% 46.68% -5.65%
TOTAL ASSETS
Total Short-Term Assets $1.106B $1.323B $1.119B
Total Long-Term Assets $655.8M $577.8M $338.5M
Total Assets $1.762B $1.901B $1.457B
YoY Change 20.89% 69.98% 54.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.90M $12.87M $14.42M
YoY Change 24.1% -5.79% 501.0%
Accrued Expenses $68.70M $55.20M $42.00M
YoY Change 63.57% 11.52% 56.13%
Deferred Revenue $27.32M $25.67M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.200M $1.100M
YoY Change
Total Short-Term Liabilities $116.3M $95.61M $77.84M
YoY Change 49.41% 28.28% 92.67%
LONG-TERM LIABILITIES
Long-Term Debt $154.1M $154.7M $154.0M
YoY Change 0.06% 28.81% 77.83%
Other Long-Term Liabilities $33.60M $2.780M $90.00K
YoY Change 37233.33% 2216.67% -99.84%
Total Long-Term Liabilities $187.7M $2.780M $90.00K
YoY Change 208455.56% 2216.67% -99.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $116.3M $95.61M $77.84M
Total Long-Term Liabilities $187.7M $2.780M $90.00K
Total Liabilities $304.0M $277.1M $257.1M
YoY Change 18.24% 11.44% 40.96%
SHAREHOLDERS EQUITY
Retained Earnings -$913.8M -$717.8M
YoY Change 58.19%
Common Stock $494.0K $455.0K
YoY Change 21.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.458B $1.623B $1.200B
YoY Change
Total Liabilities & Shareholders Equity $1.762B $1.901B $1.457B
YoY Change 20.89% 69.98% 54.73%

Cashflow Statement

Concept 2018 Q2 2017 Q4 2017 Q2
OPERATING ACTIVITIES
Net Income -$146.0M -$117.2M -$70.90M
YoY Change 105.92% 64.27% 20.48%
Depreciation, Depletion And Amortization $4.180M $3.640M $3.440M
YoY Change 21.51% 44.44% 39.27%
Cash From Operating Activities -$100.4M -$95.38M -$53.54M
YoY Change 87.52% 38.01% 20.78%
INVESTING ACTIVITIES
Capital Expenditures -$13.24M -$18.83M -$13.49M
YoY Change -1.85% 44.62% 521.66%
Acquisitions
YoY Change
Other Investing Activities -$14.25M $46.42M $72.50M
YoY Change -119.66% -138.84% -6.87%
Cash From Investing Activities -$27.48M $27.59M $59.01M
YoY Change -146.57% -120.81% -22.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.300M 588.3M 464.9M
YoY Change -98.86% 145.37% -35584.73%
NET CHANGE
Cash From Operating Activities -100.4M -95.38M -53.54M
Cash From Investing Activities -27.48M 27.59M 59.01M
Cash From Financing Activities 5.300M 588.3M 464.9M
Net Change In Cash -122.6M 520.5M 470.3M
YoY Change -126.06% 1266.25% 1465.65%
FREE CASH FLOW
Cash From Operating Activities -$100.4M -$95.38M -$53.54M
Capital Expenditures -$13.24M -$18.83M -$13.49M
Free Cash Flow -$87.16M -$76.55M -$40.05M
YoY Change 117.63% 36.48% -5.0%

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<div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Description of the business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">bluebird bio, Inc. (the &#8220;Company&#8221; or &#8220;bluebird&#8221;) was incorporated in Delaware on April&#160;16, 1992, and is headquartered in Cambridge, Massachusetts. The Company researches, develops, manufactures and plans to commercialize gene therapies for the treatment of severe genetic diseases and cancer. Since its inception, the Company has devoted substantially all of its resources to its research and development efforts relating to its product candidates, including activities to manufacture product candidates, conduct clinical studies of its product candidates, perform preclinical research to identify new product candidates and provide general and administrative support for these operations.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s clinical programs in severe genetic diseases include its LentiGlobin<sup style="font-size:85%; vertical-align:top">&#174;</sup> product candidate to treat transfusion-dependent &#946;-thalassemia, or TDT, and to treat severe sickle cell disease, or severe SCD, and its Lenti-D<sup style="font-size:85%; vertical-align:top">TM</sup> product candidate to treat cerebral adrenoleukodystrophy, or CALD, a rare hereditary neurological disorder. The Company&#8217;s programs in oncology are built upon its leadership in lentiviral gene delivery and T cell engineering, with a focus on developing novel T cell-based immunotherapies, including chimeric antigen receptor (CAR) and T cell receptor (TCR) T cell therapies. bb2121 and bb21217, which are product candidates in oncology under the Company&#8217;s collaboration arrangement with Celgene Corporation (&#8220;Celgene&#8221;), are CAR T cell product candidates for the treatment of multiple myeloma. Refer to Note 8, &#8220;<font style="font-style:italic;">Collaboration revenue</font>&#8221; for further discussion of the Company&#8217;s collaboration with Celgene.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of June 30, 2018, the Company had cash, cash equivalents and marketable securities of $1.46 billion. Although the Company has incurred recurring losses and expects to continue to incur losses for the foreseeable future, the Company expects that its cash, cash equivalents and marketable securities will be sufficient to fund current operations for at least the next twelve months.&nbsp;&nbsp;</p></div>
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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the <font style="color:#000000;">reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially</font> from those estimated amounts used in the preparation of the financial statements. Estimates are used in the following areas, among others: subsequent fair value estimates used to assess potential impairment of long-lived assets, including goodwill and intangible assets, financing lease obligation, contingent consideration, stock-based compensation expense, accrued expenses, revenue and income taxes.</p></div>
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Under ASC 605, the Company accounted for contract modifications to the Celgene collaboration as they occurred and the accounting for those changes was prospective in nature. Through the application of the practical expedient discussed above in connection with the adoption of Topic 606, the Company reflected the aggregate effect of all modifications to the Celgene collaboration when identifying the satisfied and unsatisfied performance obligations, determining the transaction price, and allocating the transaction price. As a result, although the performance obligations identified under Topic 606 were generally consistent with the units of account identified under ASC 605, the timing of the allocation of the transaction price to the identified performance obligations under Topic 606 differed from the allocations of consideration under ASC 605. Accordingly, the transaction price ultimately allocated to each performance obligation under Topic 606 differed from the amounts allocated under ASC 605.
CY2018Q2 us-gaap Deferred Tax Assets Valuation Allowance
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7900000
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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686334000
CY2018Q2 blue Restricted Cash Included In Receivables And Other Current Assets
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100000
CY2017Q2 blue Restricted Cash Included In Receivables And Other Current Assets
RestrictedCashIncludedInReceivablesAndOtherCurrentAssets
627000
CY2018Q2 blue Restricted Cash Included In Restricted Cash And Other Non Current Assets
RestrictedCashIncludedInRestrictedCashAndOtherNonCurrentAssets
13763000
CY2017Q2 blue Restricted Cash Included In Restricted Cash And Other Non Current Assets
RestrictedCashIncludedInRestrictedCashAndOtherNonCurrentAssets
13763000
CY2018Q2 us-gaap Available For Sale Securities Amortized Cost
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1127972000
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
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859375000
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AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
36000
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2018Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4714000
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3579000
CY2018Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
1123294000
CY2017Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
855797000
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
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0
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2018Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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807200000
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
704100000
CY2018Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
101200000
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
134400000
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4300000
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3300000
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
400000
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
300000
CY2018Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2017Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
blue Additional Cash Cash Equivalent And Marketable Securities Related Text
AdditionalCashCashEquivalentAndMarketableSecuritiesRelatedText
90 days or less
CY2018Q2 us-gaap Property Plant And Equipment Gross
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241393000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
215455000
CY2018Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1748000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1402000
CY2018Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1214000
CY2017Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1051000
CY2018Q2 blue Accrued License And Milestone Fees
AccruedLicenseAndMilestoneFees
914000
CY2017Q4 blue Accrued License And Milestone Fees
AccruedLicenseAndMilestoneFees
4584000
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1061000
CY2016Q4 blue Contractual Obligation Agreement Period
ContractualObligationAgreementPeriod
P5Y
CY2016Q4 blue Contractual Obligation Agreement Renewal Period
ContractualObligationAgreementRenewalPeriod
P3Y
CY2016Q4 blue Contractual Obligation Fees
ContractualObligationFees
3000000
CY2016Q4 blue Contractual Obligation Advance Fees Payment
ContractualObligationAdvanceFeesPayment
2000000
CY2016Q4 blue Contractual Obligation Fees Payable
ContractualObligationFeesPayable
1000000
blue Contractual Obligation Termination Description
ContractualObligationTerminationDescription
The Company may terminate this agreement with twelve months’ notice and a one-time termination fee.
CY2018Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
12000000
CY2018Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
12000000
blue Decrease In Letter Of Credit Related To New Lease Agreement
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9200000
CY2017Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4635000
blue Additions To Accounts Receivable Net Current
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1641000
blue Deduction To Accounts Receivable Net Current
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6276000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
76812000
us-gaap Contract With Customer Liability Revenue Recognized
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21589000
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
55223000
CY2017Q4 us-gaap Stock Issued During Period Shares New Issues
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3200000
CY2017Q4 us-gaap Shares Issued Price Per Share
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185.00
CY2017Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
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569800000
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
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300000
CY2018Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
185.00
CY2018Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
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48700000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod
2000000
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod
1600000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1800000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28056000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
51051000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13489000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24971000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3755000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1220000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
426000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
44000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4505000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1954000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4497000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
67.91
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
198.41
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
59.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
120.49
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
103.55
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
56.65
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
103.61
us-gaap Proceeds From Stock Plans
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25300000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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5441000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4662000

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