2016 Q2 Form 10-Q Financial Statement

#000089615916000036 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $7.897B $5.048B
YoY Change 56.44% 0.0%
Cost Of Revenue $4.254B $2.417B
YoY Change 76.0% 0.0%
Gross Profit $3.643B $2.631B
YoY Change 38.46% 0.0%
Gross Profit Margin 46.13% 52.12%
Selling, General & Admin $834.0M $583.0M
YoY Change 43.05% 2.1%
% of Gross Profit 22.89% 22.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.560B $727.0M
YoY Change 114.58% -4.09%
% of Gross Profit 42.82% 27.63%
Operating Expenses $6.800B $3.936B
YoY Change 72.76% 1.1%
Operating Profit -$3.157B -$1.305B
YoY Change 141.92% 3.41%
Interest Expense -$122.0M -$31.00M
YoY Change 293.55% 10.71%
% of Operating Profit
Other Income/Expense, Net $1.000M -$17.00M
YoY Change -105.88% -168.0%
Pretax Income $881.0M $1.085B
YoY Change -18.8% 18.97%
Income Tax $155.0M $143.0M
% Of Pretax Income 17.59% 13.18%
Net Earnings $726.0M $942.0M
YoY Change -22.93% 0.0%
Net Earnings / Revenue 9.19% 18.66%
Basic Earnings Per Share $1.55 $2.89
Diluted Earnings Per Share $1.54 $2.86
COMMON SHARES
Basic Shares Outstanding 467.7M shares 325.5M shares
Diluted Shares Outstanding 471.2M shares 328.7M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.011B $790.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $15.53B
YoY Change
Intangibles $7.398B
YoY Change
Long-Term Investments $100.5B $63.90B
YoY Change 57.28% -0.29%
Other Assets $0.00 $285.0M
YoY Change -100.0% 21.79%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $160.2B $99.84B
YoY Change 60.46% 2.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.614B $6.090B
YoY Change 57.87% 12.38%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $500.0M $2.102B
YoY Change -76.21% 13.56%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.06B $12.79B
YoY Change 17.7% 15.64%
LONG-TERM LIABILITIES
Long-Term Debt $12.94B $4.466B
YoY Change 189.72% 2.29%
Other Long-Term Liabilities -$1.256B $615.0M
YoY Change -304.23% 26.54%
Total Long-Term Liabilities $11.68B $5.081B
YoY Change 129.94% 4.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.06B $12.79B
Total Long-Term Liabilities $11.68B $5.081B
Total Liabilities $113.0B $70.29B
YoY Change 60.74% 4.71%
SHAREHOLDERS EQUITY
Retained Earnings $20.64B $18.27B
YoY Change 13.01% 19.36%
Common Stock $11.12B $7.833B
YoY Change 41.98% -7.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.577B $1.999B
YoY Change -21.11% 217.3%
Treasury Stock Shares 14.77M shares 19.02M shares
Shareholders Equity $47.23B $29.56B
YoY Change
Total Liabilities & Shareholders Equity $160.2B $99.84B
YoY Change 60.46% 2.46%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $726.0M $942.0M
YoY Change -22.93% 0.0%
Depreciation, Depletion And Amortization $1.560B $727.0M
YoY Change 114.58% -4.09%
Cash From Operating Activities $1.133B $816.0M
YoY Change 38.85% -3.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.057B $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.057B $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -167.0M -992.0M
YoY Change -83.17% 548.37%
NET CHANGE
Cash From Operating Activities 1.133B 816.0M
Cash From Investing Activities -1.057B 0.000
Cash From Financing Activities -167.0M -992.0M
Net Change In Cash -91.00M -176.0M
YoY Change -48.3% -33.08%
FREE CASH FLOW
Cash From Operating Activities $1.133B $816.0M
Capital Expenditures
Free Cash Flow
YoY Change

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TradingSymbol
CB
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
6205000000 USD
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
9614000000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-71000000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-376000000 USD
CY2015Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
513000000 USD
CY2016Q2 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
919000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-735000000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1181000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Availableforsale Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities
42000000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Availableforsale Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities
30000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities
35000000 USD
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities
3000000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4481000000 USD
CY2016Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
15858000000 USD
us-gaap Additions To Contract Holders Funds
AdditionsToContractHoldersFunds
235000000 USD
us-gaap Additions To Contract Holders Funds
AdditionsToContractHoldersFunds
274000000 USD
CY2015Q4 us-gaap Alternative Investments Fair Value Disclosure
AlternativeInvestmentsFairValueDisclosure
2477000000 USD
CY2016Q2 us-gaap Alternative Investments Fair Value Disclosure
AlternativeInvestmentsFairValueDisclosure
3537000000 USD
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
55000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
85000000 USD
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12000000 USD
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1934454 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1306817 shares
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2103281 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2056018 shares
CY2015Q4 us-gaap Assets
Assets
102306000000 USD
CY2016Q2 us-gaap Assets
Assets
160203000000 USD
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
57929000000 USD
CY2016Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
88048000000 USD
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1168000000 USD
CY2016Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2719000000 USD
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
730000000 USD
CY2016Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
204000000 USD
CY2015Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
43149000000 USD
CY2016Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
77436000000 USD
CY2015Q4 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000000 USD
CY2016Q2 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedGainBeforeTax
103000000 USD
CY2015Q4 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedLossBeforeTax
18000000 USD
CY2016Q2 us-gaap Available For Sale Equity Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleEquitySecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000000 USD
CY2015Q4 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
441000000 USD
CY2016Q2 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
703000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
226000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
115000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
827000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
256000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
18648000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
9570000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
601000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
141000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
16763000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
7376000000 USD
CY2015Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
1885000000 USD
CY2016Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
2194000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
12258000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
25905000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
12173000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
26685000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
14936000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
25540000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
15104000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
26174000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
4272000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
10137000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
4487000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
10827000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1856000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
3485000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1865000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
3501000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
9827000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
12369000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
9958000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
12764000000 USD
CY2015Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
43587000000 USD
CY2016Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79951000000 USD
CY2015Q4 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
497000000 USD
CY2016Q2 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
787000000 USD
CY2015Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
3963000000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
7551000000 USD
CY2016Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
7016000000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
13330000000 USD
CY2015Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.57
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
4.62
CY2016Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
1.52
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.67
CY2015Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.55
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
4.57
CY2016Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.51
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.65
CY2015Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1199000000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
2158000000 USD
CY2016Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
712000000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1246000000 USD
CY2015Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
8378000000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
16073000000 USD
CY2016Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
7915000000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
15237000000 USD
CY2015Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
0 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
0 USD
CY2016Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
98000000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
246000000 USD
us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
581000000 USD
CY2016Q2 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
326000000 USD
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
5232000000 USD
CY2016Q2 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
2745000000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
620000000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
71000000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
655000000 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
790000000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1775000000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1011000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
135000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-764000000 USD
us-gaap Cash Dividends Paid To Parent Company
CashDividendsPaidToParentCompany
0 USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.67
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.32
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.69
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.68
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.36
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.34
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
24.15
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
24.15
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
342832412 shares
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
479783864 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
324563441 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
465012980 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
7833000000 USD
CY2016Q2 us-gaap Common Stock Value
CommonStockValue
11121000000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
397000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1039000000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1540000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3081000000 USD
CY2015Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
318000000 USD
CY2016Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
0 USD
CY2015Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
0 USD
CY2016Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1409000000 USD
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.53
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-77000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
24000000 USD
CY2015Q2 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
727000000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
1434000000 USD
CY2016Q2 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
1560000000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
2973000000 USD
CY2015Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
2873000000 USD
CY2016Q2 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
3948000000 USD
us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year
DefinedBenefitPlansEstimatedFutureEmployerContributionsInCurrentFiscalYear
19000000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
1000000 USD
CY2016Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
51000000 USD
CY2015Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
128000000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
72000000 USD
CY2016Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-206000000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-490000000 USD
CY2015Q4 us-gaap Due From Affiliates
DueFromAffiliates
0 USD
CY2016Q2 us-gaap Due From Affiliates
DueFromAffiliates
0 USD
CY2015Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
0 USD
CY2016Q2 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
0 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.89
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.97
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.55
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.86
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.91
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.54
CY2015Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
1000000 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
1000000 USD
CY2016Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
5000000 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
6000000 USD
CY2015Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
824000000 USD
CY2016Q2 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
2108000000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-1000000 USD
us-gaap Fair Value Measurements Valuation Techniques
FairValueMeasurementsValuationTechniques
Actuarial model
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
253000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
250000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
264000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
285000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
329000000 USD
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-40000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-71000000 USD
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-22000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
17000000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
578000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1132000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
492000000 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
829000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1601000000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
4796000000 USD
CY2016Q2 us-gaap Goodwill
Goodwill
15525000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10526000000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
203000000 USD
CY2015Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
8430000000 USD
CY2016Q2 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
11090000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
190000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
497000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
68000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
6000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
2313000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
3063000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount
2292000000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-weight:bold;">c) Accounting guidance not yet adopted</font></div><div style="line-height:120%;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-style:italic;font-weight:bold;">Revenue from Contracts with Customers</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">In May 2014, the FASB issued an accounting standard that supersedes most existing revenue recognition guidance. The standard excludes from its scope the accounting for insurance contracts, leases, financial instruments, and certain other agreements that are governed under other GAAP guidance, but could affect the revenue recognition for certain of our claims management and risk control services. The updated guidance requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The standard is effective for us in the first quarter of 2018 with early adoption permitted. The adoption of this guidance is not expected to have a material impact on our financial condition or results of operations.</font></div><div style="line-height:120%;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-style:italic;font-weight:bold;">Short-Duration Contracts</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">In May 2015, the FASB issued&#160;guidance that requires additional disclosures for short-duration insurance contracts. New disclosure will be required to provide more information about initial claim estimates and subsequent adjustments to those estimates, the methodologies and judgments used to estimate claims, and the timing, frequency, and severity of claims. The guidance is effective for us beginning with our 2016 annual reporting on Form 10-K. The guidance requires a change in disclosure only and adoption of this guidance will not have an impact on our financial condition or results of operations.</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-style:italic;font-weight:bold;">Financial Instruments &#8211; Recognition and Measurement of Financial Assets and Financial Liabilities</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">In January 2016, the FASB issued guidance that affects the recognition, measurement, presentation, and disclosure of financial instruments. The guidance requires equity investments to be measured at fair value with changes in fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee) and an assessment of a valuation allowance on deferred tax assets related to unrealized losses of available for sale debt securities in combination with other deferred tax assets. The standard is effective for us in the first quarter of 2018. We are in the process of evaluating the effect the updated guidance will have on our financial condition and results of operations.</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-style:italic;font-weight:bold;">Financial Instruments &#8211; Credit Losses:&#160;Measurement of Credit Losses on Financial Instruments</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">In June&#160;2016, the FASB issued guidance on the accounting for credit losses of financial instruments that are measured at amortized cost, including held to maturity securities and reinsurance recoverables, by applying an approach based on the current expected credit losses (CECL). The estimate of expected credit losses should consider historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset in order to present the net carrying value at the amount expected to be collected on the financial asset on the consolidated balance sheet.</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">The guidance also amends the current available for sale (AFS) security other-than-temporary impairment model by requiring an estimate of the expected credit loss (ECL) only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model will also require the use of a valuation allowance. </font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">The standard is effective for us in the first quarter of 2020 with early adoption permitted in the first quarter of 2019. We will be able to assess the impact of adopting this guidance on our financial condition and results of operations closer to the date of adoption.</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;font-style:italic;font-weight:bold;">Stock Compensation</font></div><div style="line-height:120%;text-align:left;font-size:9.75pt;"><font style="font-family:News Gothic,sans-serif;font-size:9.75pt;">In March 2016, the FASB issued guidance which requires recognition of the excess tax benefits or deficiencies of awards through net income rather than through additional paid in capital. Additionally, entities can elect to account for forfeitures related to share-based payments either as they occur or through an estimation method. If elected, the change to recognize forfeitures as they occur would be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to retained earnings. The updated guidance is effective for us in the first quarter of 2017 with early adoption permitted. We are in the process of evaluating the effect the updated guidance will have on our financial condition and results of operations.</font></div></div>

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