2019 Q1 Form 10-Q Financial Statement

#000121960119000010 Filed on April 29, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $2.755B $2.197B
YoY Change 25.4% 15.57%
Cost Of Revenue $2.210B $1.808B
YoY Change 22.23% 18.09%
Gross Profit $423.0M $324.0M
YoY Change 30.56% 4.18%
Gross Profit Margin 15.35% 14.75%
Selling, General & Admin $157.0M $90.00M
YoY Change 74.44% 0.0%
% of Gross Profit 37.12% 27.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $122.0M $65.00M
YoY Change 87.69% 10.17%
% of Gross Profit 28.84% 20.06%
Operating Expenses $157.0M $90.00M
YoY Change 74.44% 0.0%
Operating Profit $262.0M $221.0M
YoY Change 18.55% -1.78%
Interest Expense $98.00M $74.00M
YoY Change 32.43% 19.35%
% of Operating Profit 37.4% 33.48%
Other Income/Expense, Net $4.000M $17.00M
YoY Change -76.47% 41.67%
Pretax Income $178.0M $152.0M
YoY Change 17.11% -15.08%
Income Tax $48.00M $39.00M
% Of Pretax Income 26.97% 25.66%
Net Earnings $103.0M $90.00M
YoY Change 14.44% -15.89%
Net Earnings / Revenue 3.74% 4.1%
Basic Earnings Per Share $0.77 $0.67
Diluted Earnings Per Share $0.77 $0.67
COMMON SHARES
Basic Shares Outstanding 133.8M shares 133.5M shares
Diluted Shares Outstanding 134.4M shares 133.8M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $301.0M $2.201B
YoY Change -86.32% 551.18%
Cash & Equivalents $301.0M $2.201B
Short-Term Investments
Other Short-Term Assets $166.0M $243.0M
YoY Change -31.69% 3.85%
Inventory $1.851B $1.241B
Prepaid Expenses
Receivables $1.503B $1.142B
Other Receivables $203.0M $244.0M
Total Short-Term Assets $4.024B $3.110B
YoY Change 29.39% 7.69%
LONG-TERM ASSETS
Property, Plant & Equipment $3.734B $3.322B
YoY Change 12.4% 14.63%
Goodwill $4.418B $3.134B
YoY Change 40.97%
Intangibles $2.136B $487.0M
YoY Change 338.6%
Long-Term Investments
YoY Change
Other Assets $832.0M $833.0M
YoY Change -0.12% 14.58%
Total Long-Term Assets $11.33B $7.590B
YoY Change 49.31% 8.71%
TOTAL ASSETS
Total Short-Term Assets $4.024B $3.110B
Total Long-Term Assets $11.33B $7.590B
Total Assets $15.36B $10.70B
YoY Change 43.52% 8.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.223B $2.009B
YoY Change 10.65% -15.02%
Accrued Expenses $864.0M $774.0M
YoY Change 11.63%
Deferred Revenue $3.000M $1.000M
YoY Change 200.0%
Short-Term Debt $125.0M $32.00M
YoY Change 290.63% -13.51%
Long-Term Debt Due $83.00M $61.00M
YoY Change 36.07% 7.02%
Total Short-Term Liabilities $3.342B $3.267B
YoY Change 2.3% 30.89%
LONG-TERM LIABILITIES
Long-Term Debt $8.814B $7.778B
YoY Change 13.32% 49.4%
Other Long-Term Liabilities $861.0M $695.0M
YoY Change 23.88% -2.52%
Total Long-Term Liabilities $9.675B $8.473B
YoY Change 14.19% 43.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.342B $3.267B
Total Long-Term Liabilities $9.675B $8.473B
Total Liabilities $13.02B $11.74B
YoY Change 10.88% 39.51%
SHAREHOLDERS EQUITY
Retained Earnings $3.013B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.134B $610.0M
YoY Change
Total Liabilities & Shareholders Equity $15.36B $10.70B
YoY Change 43.52% 8.41%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $103.0M $90.00M
YoY Change 14.44% -15.89%
Depreciation, Depletion And Amortization $122.0M $65.00M
YoY Change 87.69% 10.17%
Cash From Operating Activities -$666.0M -$751.0M
YoY Change -11.32% 30.16%
INVESTING ACTIVITIES
Capital Expenditures $75.00M $92.00M
YoY Change -18.48% -14.02%
Acquisitions
YoY Change
Other Investing Activities $11.00M $150.0M
YoY Change -92.67%
Cash From Investing Activities -$64.00M $58.00M
YoY Change -210.34% -62.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.000M $1.000M
YoY Change -200.0% -99.21%
Debt Paid & Issued, Net $281.0M $13.00M
YoY Change 2061.54% 8.33%
Cash From Financing Activities $417.0M $2.455B
YoY Change -83.01% 1133.67%
NET CHANGE
Cash From Operating Activities -$666.0M -$751.0M
Cash From Investing Activities -$64.00M $58.00M
Cash From Financing Activities $417.0M $2.455B
Net Change In Cash -$311.0M $1.776B
YoY Change -117.51% -903.62%
FREE CASH FLOW
Cash From Operating Activities -$666.0M -$751.0M
Capital Expenditures $75.00M $92.00M
Free Cash Flow -$741.0M -$843.0M
YoY Change -12.1% 23.25%

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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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20000000 USD
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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56000 Claim
CY2019Q1 us-gaap Loss Contingency Pending Claims Number
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CY2018Q4 us-gaap Minority Interest
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CY2018Q1 us-gaap Net Income Loss
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23000000 USD
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10000000 USD
CY2019Q1 us-gaap Objectives For Using Derivative Instruments
ObjectivesForUsingDerivativeInstruments
The Company’s objective in managing exposure to market risk is to limit the impact on earnings and cash flow.
CY2018Q1 us-gaap Operating Income Loss
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221000000 USD
CY2019Q1 us-gaap Operating Income Loss
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CY2019Q1 us-gaap Operating Lease Cost
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CY2019Q1 us-gaap Operating Lease Liability
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214000000 USD
CY2019Q1 us-gaap Operating Lease Liability
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220000000 USD
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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220000000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.042
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P9Y7M
CY2018Q4 us-gaap Other Assets Noncurrent
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803000000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
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1000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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55000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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78000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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12000000 USD
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82000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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59000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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61000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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85000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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63000000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
85000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-14000000 USD
CY2018Q1 us-gaap Other Depreciation And Amortization
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65000000 USD
CY2019Q1 us-gaap Other Depreciation And Amortization
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122000000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
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887000000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
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861000000 USD
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183000000 USD
CY2019Q1 us-gaap Other Receivables Net Current
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203000000 USD
CY2018Q1 us-gaap Other Restructuring Costs
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0 USD
CY2019Q1 us-gaap Other Restructuring Costs
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-9000000 USD
CY2018Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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25000000 USD
CY2019Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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0 USD
CY2018Q1 us-gaap Payments For Proceeds From Hedge Investing Activities
PaymentsForProceedsFromHedgeInvestingActivities
0 USD
CY2019Q1 us-gaap Payments For Proceeds From Hedge Investing Activities
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CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
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1000000 USD
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1000000 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
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29000000 USD
CY2019Q1 us-gaap Payments Of Debt Issuance Costs
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0 USD
CY2018Q1 us-gaap Payments Of Dividends Minority Interest
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0 USD
CY2019Q1 us-gaap Payments Of Dividends Minority Interest
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9000000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
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92000000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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75000000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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683000000 USD
CY2019Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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671000000 USD
CY2018Q1 us-gaap Pension Contributions
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5000000 USD
CY2019Q1 us-gaap Pension Contributions
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7000000 USD
CY2018Q1 us-gaap Pension Expense
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1000000 USD
CY2019Q1 us-gaap Pension Expense
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180000000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
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186000000 USD
CY2018Q1 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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175000000 USD
CY2019Q1 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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1912000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
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10000000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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576000000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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731000000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2019Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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5000000 USD
CY2018Q1 us-gaap Profit Loss
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113000000 USD
CY2019Q1 us-gaap Profit Loss
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131000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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CY2019Q1 us-gaap Property Plant And Equipment Net
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CY2019Q1 us-gaap Receivables Net Current
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CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2019Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2018Q1 us-gaap Repayments Of Long Term Debt
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13000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
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281000000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
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52000000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
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47000000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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45000000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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40000000 USD
CY2018Q4 us-gaap Restricted Cash Equivalents Noncurrent
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7000000 USD
CY2019Q1 us-gaap Restricted Cash Equivalents Noncurrent
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7000000 USD
CY2018Q1 us-gaap Restructuring Charges
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3000000 USD
CY2019Q1 us-gaap Restructuring Charges
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9000000 USD
CY2018Q1 us-gaap Revenues
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2197000000 USD
CY2019Q1 us-gaap Revenues
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2755000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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5000000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
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90000000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
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157000000 USD
CY2018Q1 us-gaap Share Based Compensation
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6000000 USD
CY2019Q1 us-gaap Share Based Compensation
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8000000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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2142743 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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2244014 shares
CY2018Q4 us-gaap Short Term Borrowings
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89000000 USD
CY2019Q1 us-gaap Short Term Borrowings
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125000000 USD
CY2019Q1 us-gaap Short Term Lease Cost
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2000000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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0 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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2000000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
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1000000 USD
CY2019Q1 us-gaap Stock Repurchased During Period Value
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1000000 USD
CY2018Q4 us-gaap Stockholders Equity
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937000000 USD
CY2019Q1 us-gaap Stockholders Equity
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1134000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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923000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1112000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1286000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1502000000 USD
CY2018Q4 us-gaap Unbilled Receivables Current
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181000000 USD
CY2019Q1 us-gaap Unbilled Receivables Current
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217000000 USD
CY2019Q1 us-gaap Variable Lease Cost
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1000000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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300000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
600000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133800000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134400000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133500000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133800000 shares

Files In Submission

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