2013 Q4 Form 10-K Financial Statement

#000002617215000007 Filed on February 17, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4 2012
Revenue $4.588B $4.292B $17.33B
YoY Change 6.9% -12.78% -3.96%
Cost Of Revenue $3.451B $3.205B $12.92B
YoY Change 7.68% -12.91% -4.02%
Gross Profit $1.137B $1.087B $4.416B
YoY Change 4.6% -12.41% -3.77%
Gross Profit Margin 24.78% 25.33% 25.48%
Selling, General & Admin $473.0M $462.0M $1.808B
YoY Change 2.38% -6.85% -1.58%
% of Gross Profit 41.6% 42.5% 40.94%
Research & Development $181.0M $171.0M $728.0M
YoY Change 5.85% -4.47% 15.74%
% of Gross Profit 15.92% 15.73% 16.49%
Depreciation & Amortization $102.0M $99.00M $361.0M
YoY Change 3.03% 20.73% 11.08%
% of Gross Profit 8.97% 9.11% 8.17%
Operating Expenses $653.0M $630.0M $2.536B
YoY Change 3.65% -6.94% 2.84%
Operating Profit $484.0M $457.0M $2.254B
YoY Change 5.91% -18.97% -15.93%
Interest Expense $63.00M $89.00M $32.00M
YoY Change -29.21% -16.04% -27.27%
% of Operating Profit 13.02% 19.47% 1.42%
Other Income/Expense, Net $11.00M $1.000M $24.00M
YoY Change 1000.0% -87.5%
Pretax Income $547.0M $473.0M $2.271B
YoY Change 15.64% -37.6% -14.98%
Income Tax $86.00M $75.00M $533.0M
% Of Pretax Income 15.72% 15.86% 23.47%
Net Earnings $432.0M $369.0M $1.738B
YoY Change 17.07% -32.66% -10.69%
Net Earnings / Revenue 9.42% 8.6% 10.03%
Basic Earnings Per Share $8.69
Diluted Earnings Per Share $2.319M $1.954M $8.67
COMMON SHARES
Basic Shares Outstanding 189.3M shares
Diluted Shares Outstanding 189.7M shares

Balance Sheet

Concept 2013 Q4 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.849B $1.616B $1.616B
YoY Change 76.3% -8.23% -8.23%
Cash & Equivalents $2.699B $1.369B $1.369B
Short-Term Investments $150.0M $247.0M $247.0M
Other Short-Term Assets $760.0M $855.0M $855.0M
YoY Change -11.11% 28.96% 28.96%
Inventory $2.381B $2.221B $2.221B
Prepaid Expenses
Receivables $2.649B $2.475B $2.475B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.639B $7.167B $7.167B
YoY Change 20.54% 1.07% 1.07%
LONG-TERM ASSETS
Property, Plant & Equipment $3.156B $2.724B $2.724B
YoY Change 15.86% 19.06% 19.06%
Goodwill $461.0M $445.0M
YoY Change 3.6% 31.27%
Intangibles $357.0M $369.0M
YoY Change -3.25% 62.56%
Long-Term Investments $931.0M $897.0M $897.0M
YoY Change 3.79% 7.04% 7.04%
Other Assets $670.0M $764.0M $946.0M
YoY Change -12.3% -13.67% 6.89%
Total Long-Term Assets $6.089B $5.381B $5.381B
YoY Change 13.16% 17.57% 17.57%
TOTAL ASSETS
Total Short-Term Assets $8.639B $7.167B $7.167B
Total Long-Term Assets $6.089B $5.381B $5.381B
Total Assets $14.73B $12.55B $12.55B
YoY Change 17.37% 7.54% 7.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.557B $1.339B $1.339B
YoY Change 16.28% -13.39% -13.39%
Accrued Expenses $1.359B $1.332B $1.332B
YoY Change 2.03% -10.96% -10.96%
Deferred Revenue
YoY Change
Short-Term Debt $17.00M $16.00M $16.00M
YoY Change 6.25% -42.86% -42.86%
Long-Term Debt Due $51.00M $61.00M $61.00M
YoY Change -16.39% -37.11% -37.11%
Total Short-Term Liabilities $3.368B $3.136B $3.136B
YoY Change 7.4% -14.25% -14.25%
LONG-TERM LIABILITIES
Long-Term Debt $1.672B $698.0M $698.0M
YoY Change 139.54% 6.08% 6.08%
Other Long-Term Liabilities $357.0M $246.0M $1.740B
YoY Change 45.12% 30.16% 14.32%
Total Long-Term Liabilities $357.0M $246.0M $2.438B
YoY Change 45.12% 30.16% 11.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.368B $3.136B $3.136B
Total Long-Term Liabilities $357.0M $246.0M $2.438B
Total Liabilities $6.858B $5.574B $5.945B
YoY Change 23.04% -4.51% -3.74%
SHAREHOLDERS EQUITY
Retained Earnings $8.406B $7.343B
YoY Change 14.48% 21.61%
Common Stock $2.099B $2.058B
YoY Change 1.99% 2.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.195B $1.830B
YoY Change 19.95% 15.31%
Treasury Stock Shares 35.60M shares 32.60M shares
Shareholders Equity $7.510B $6.603B $6.603B
YoY Change
Total Liabilities & Shareholders Equity $14.73B $12.55B $12.55B
YoY Change 17.37% 7.54% 7.54%

Cashflow Statement

Concept 2013 Q4 2012 Q4 2012
OPERATING ACTIVITIES
Net Income $432.0M $369.0M $1.738B
YoY Change 17.07% -32.66% -10.69%
Depreciation, Depletion And Amortization $102.0M $99.00M $361.0M
YoY Change 3.03% 20.73% 11.08%
Cash From Operating Activities $756.0M $745.0M $1.532B
YoY Change 1.48% 5.67% -26.1%
INVESTING ACTIVITIES
Capital Expenditures -$280.0M -$291.0M $690.0M
YoY Change -3.78% 6.2% 10.93%
Acquisitions $215.0M
YoY Change
Other Investing Activities -$21.00M $28.00M -$44.00M
YoY Change -175.0% -64.1% 4300.0%
Cash From Investing Activities -$301.0M -$263.0M -$982.0M
YoY Change 14.45% 34.18% 77.9%
FINANCING ACTIVITIES
Cash Dividend Paid $340.0M
YoY Change 33.33%
Common Stock Issuance & Retirement, Net $256.0M
YoY Change -59.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -292.0M -144.0M -694.0M
YoY Change 102.78% -22.16% -32.29%
NET CHANGE
Cash From Operating Activities 756.0M 745.0M 1.532B
Cash From Investing Activities -301.0M -263.0M -982.0M
Cash From Financing Activities -292.0M -144.0M -694.0M
Net Change In Cash 163.0M 338.0M -144.0M
YoY Change -51.78% 4.32% -129.03%
FREE CASH FLOW
Cash From Operating Activities $756.0M $745.0M $1.532B
Capital Expenditures -$280.0M -$291.0M $690.0M
Free Cash Flow $1.036B $1.036B $842.0M
YoY Change 0.0% 5.82% -41.97%

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90000000 USD
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94000000 USD
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86000000 USD
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76000000 USD
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36000000 USD
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121000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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P3Y
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0.0130
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0155
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728000000 USD
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ResearchAndDevelopmentExpense
713000000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
754000000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8406000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9545000000 USD
CY2012 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2427000000 USD
CY2013 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2319000000 USD
CY2014 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2063000000 USD
CY2014 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
100 shares
CY2012 us-gaap Sales Revenue Net
SalesRevenueNet
17334000000 USD
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
17301000000 USD
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
19221000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0161
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5898
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5659
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4117
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0105
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0079
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0180
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3500000 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
785869 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
758936 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
903059 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
51.40
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
76.85
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
92.18
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
19000000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
22000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12000000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
13999 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
13674 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10716 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
321945 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
432370 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
350630 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
54.25
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1462336 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1626724 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
59.02
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
78.80
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
95.35
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
108.30
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
31.73
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
40.48
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
82.06
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
67.86
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
105.19
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
102.56
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
119.34
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
112.07
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
148.98
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
48.00
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
49.16
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62000000 USD
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1243037 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1309168 shares
CY2012Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
44000000 USD
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
48000000 USD
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
48000000 USD
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M4D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y11M9D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y18D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M20D
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
17000000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
86000000 USD
CY2013 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
431000000 USD
CY2014 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
411000000 USD
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
241815 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
265528 shares
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
175526 shares
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
13000000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
17000000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16000000 USD
CY2012 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
7000000 USD
CY2013 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
8000000 USD
CY2014 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
9000000 USD
CY2014Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
174000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
7510000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
7749000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5831000000 USD
CY2013Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
3100000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6974000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7870000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8093000000 USD
CY2012 us-gaap Stockholders Equity Other
StockholdersEquityOther
-45000000 USD
CY2013 us-gaap Stockholders Equity Other
StockholdersEquityOther
4000000 USD
CY2014 us-gaap Stockholders Equity Other
StockholdersEquityOther
-5000000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
99000000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
70000000 USD
CY2014 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
139.12
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
35600000 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40100000 shares
CY2014 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4800000 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2195000000 USD
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2844000000 USD
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
256000000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
381000000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
670000000 USD
CY2012Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
2300000000 USD
CY2014Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
3800000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
86000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
145000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
169000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
174000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
6000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
5000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
4000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
10000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
57000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
21000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
2000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
3000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
7000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
-3000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
4000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
107000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
114000000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
6000000 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
43000000 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189668704 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
187417841 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
183079295 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189286821 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186994382 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
182637568 shares
CY2014 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;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassification Adjustments</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We revised the classification of certain amounts for "Cost of sales" and "Selling, general and administrative expenses" for 2013 and 2012. In connection with the integration of recently acquired North American distributors and anticipating the future acquisition and integration of the entire North American channel, our Distribution segment has developed a framework against which Distribution management intends to measure the performance of the distribution channel. The segment EBIT (defined as earnings before interest expense, taxes and noncontrolling interests) performance measure is unchanged, however, certain activities that were previously classified in "Selling, general and administrative expenses" are now classified as "Cost of sales" to align with the new framework and allow for consistent treatment across the channel. We revised the expense presentation of our </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidated Statements of Income </font><font style="font-family:inherit;font-size:10pt;">for the periods presented</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">to follow the new cost framework. The reclassifications for the years ended December 31, 2013 and 2012, were</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;font-style:normal;">$103 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;font-style:normal;">$92 million</font><font style="font-family:inherit;font-size:10pt;font-style:normal;">, respectively. The revision had no impact on reported net income, cash flows or the balance sheet. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates in the Preparation of the Financial Statements</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts presented and disclosed in our </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidated Financial Statements</font><font style="font-family:inherit;font-size:10pt;">. Significant estimates and assumptions in these </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidated Financial Statements </font><font style="font-family:inherit;font-size:10pt;">require the exercise of judgment and are used for, but not limited to, allowance for doubtful accounts, estimates of future cash flows and other assumptions associated with goodwill and long-lived asset impairment tests, useful lives for depreciation and amortization, warranty programs, determination of discount and other assumptions for pension and other postretirement benefit costs, restructuring costs, income taxes and deferred tax valuation allowances, lease classification and contingencies. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></div>

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