2014 Q4 Form 10-Q Financial Statement

#000144530514004599 Filed on October 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $329.5M $327.6M $292.1M
YoY Change 13.94% 12.13% 4.82%
Cost Of Revenue $209.4M $144.1M $121.9M
YoY Change 4.44% 18.16% 0.11%
Gross Profit $119.9M $118.3M $99.93M
YoY Change 36.0% 18.36% -36.32%
Gross Profit Margin 36.4% 36.1% 34.21%
Selling, General & Admin $69.80M $64.48M $54.90M
YoY Change 22.46% 17.44% 7.55%
% of Gross Profit 58.19% 54.52% 54.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.00M $26.07M $22.74M
YoY Change -11.26% 14.66% 10.91%
% of Gross Profit 21.68% 22.04% 22.75%
Operating Expenses $77.00M $64.48M $54.90M
YoY Change 24.39% 17.44% 7.55%
Operating Profit $40.77M $46.17M $40.84M
YoY Change 65.67% 13.05% 8.39%
Interest Expense -$2.400M $2.997M $2.319M
YoY Change -7.69% 29.24% -72.78%
% of Operating Profit -5.89% 6.49% 5.68%
Other Income/Expense, Net $1.800M $331.0K $4.059M
YoY Change 63.64% -91.85% -555.04%
Pretax Income $40.20M $43.88M $42.73M
YoY Change 74.03% 2.71% 50.47%
Income Tax $11.70M $11.58M $11.39M
% Of Pretax Income 29.1% 26.39% 26.66%
Net Earnings $27.20M $32.35M $31.22M
YoY Change 42.41% 3.62% 40.63%
Net Earnings / Revenue 8.25% 9.88% 10.69%
Basic Earnings Per Share $0.58 $0.70 $0.64
Diluted Earnings Per Share $0.57 $0.68 $0.64
COMMON SHARES
Basic Shares Outstanding 46.92M shares 46.02M shares 47.91M shares
Diluted Shares Outstanding 46.88M shares 48.44M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.0M $145.3M $141.5M
YoY Change -4.24% 2.69% 57.92%
Cash & Equivalents $160.0M $130.7M $130.5M
Short-Term Investments $14.60M $11.10M
Other Short-Term Assets $72.94M $93.00M $94.80M
YoY Change -3.26% -1.9% 60.68%
Inventory $89.04M $92.70M $87.15M
Prepaid Expenses $26.90M $31.47M $28.86M
Receivables $258.0M $275.0M $224.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $579.3M $606.0M $547.8M
YoY Change 4.83% 10.63% 19.63%
LONG-TERM ASSETS
Property, Plant & Equipment $676.8M $671.2M $690.7M
YoY Change 0.09% -2.82% -4.69%
Goodwill $321.1M $289.4M $229.3M
YoY Change 39.17% 26.21% 10.53%
Intangibles $178.9M $167.5M $87.25M
YoY Change 111.59% 92.04% -2.82%
Long-Term Investments $18.30M $23.43M $16.00M
YoY Change 75.63% 46.46% 100.87%
Other Assets $72.95M $83.87M $57.17M
YoY Change 17.73% 46.71% 39.48%
Total Long-Term Assets $1.291B $1.236B $1.096B
YoY Change 19.54% 12.81% -1.24%
TOTAL ASSETS
Total Short-Term Assets $579.3M $606.0M $547.8M
Total Long-Term Assets $1.291B $1.236B $1.096B
Total Assets $1.871B $1.842B $1.644B
YoY Change 14.57% 12.08% 4.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.82M $27.55M $29.68M
YoY Change 6.44% -7.17% 6.96%
Accrued Expenses $67.38M $69.52M $54.00M
YoY Change 18.81% 28.74% 8.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $31.71M $31.72M $15.99M
YoY Change 49.31% 98.43% -87.27%
Total Short-Term Liabilities $294.7M $283.1M $235.2M
YoY Change 19.29% 20.37% -27.69%
LONG-TERM LIABILITIES
Long-Term Debt $722.0M $737.9M $623.8M
YoY Change 12.5% 18.3% 14.84%
Other Long-Term Liabilities $99.55M $98.22M $101.7M
YoY Change 40.93% -3.45% 4.9%
Total Long-Term Liabilities $821.6M $836.1M $725.5M
YoY Change 15.32% 15.25% 13.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $294.7M $283.1M $235.2M
Total Long-Term Liabilities $821.6M $836.1M $725.5M
Total Liabilities $1.166B $1.144B $969.7M
YoY Change 20.47% 17.97% 0.21%
SHAREHOLDERS EQUITY
Retained Earnings -$138.8M -$165.9M -$284.6M
YoY Change -47.73% -41.69% -26.41%
Common Stock $2.308B $2.277B $2.172B
YoY Change 4.6% 4.85% 4.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.423B $1.423B $1.229B
YoY Change 8.99% 15.83% 10.0%
Treasury Stock Shares 37.18M shares 37.18M shares 33.45B shares
Shareholders Equity $672.2M $670.3M $656.5M
YoY Change
Total Liabilities & Shareholders Equity $1.871B $1.842B $1.644B
YoY Change 14.57% 12.08% 4.86%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $27.20M $32.35M $31.22M
YoY Change 42.41% 3.62% 40.63%
Depreciation, Depletion And Amortization $26.00M $26.07M $22.74M
YoY Change -11.26% 14.66% 10.91%
Cash From Operating Activities $99.40M $67.00M $67.00M
YoY Change 60.06% 0.0% 10.2%
INVESTING ACTIVITIES
Capital Expenditures -$27.00M -$9.400M -$9.100M
YoY Change 94.24% 3.3% -10.78%
Acquisitions
YoY Change
Other Investing Activities -$53.80M -$5.300M -$5.200M
YoY Change 811.86% 1.92% -68.29%
Cash From Investing Activities -$80.80M -$14.70M -$14.30M
YoY Change 310.15% 2.8% -46.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.10M -33.90M -38.90M
YoY Change -207.55% -12.85% 41.45%
NET CHANGE
Cash From Operating Activities 99.40M 67.00M 67.00M
Cash From Investing Activities -80.80M -14.70M -14.30M
Cash From Financing Activities 17.10M -33.90M -38.90M
Net Change In Cash 35.70M 18.40M 13.80M
YoY Change 34.72% 33.33% 105.97%
FREE CASH FLOW
Cash From Operating Activities $99.40M $67.00M $67.00M
Capital Expenditures -$27.00M -$9.400M -$9.100M
Free Cash Flow $126.4M $76.40M $76.10M
YoY Change 66.32% 0.39% 7.18%

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CY2014Q3 us-gaap Equity Method Investment Dividends Or Distributions
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0.32
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262449000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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251909000 USD
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CY2013Q4 us-gaap Goodwill
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1235701000 USD
CY2014Q3 us-gaap Goodwill Gross
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CY2014Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2013Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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us-gaap Goodwill Transfers
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0 USD
us-gaap Income Loss From Continuing Operations
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100394000 USD
us-gaap Income Loss From Continuing Operations
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84912000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
31984000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
30980000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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43882000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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115221000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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137409000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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42726000 USD
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42726000 USD
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43882000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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115221000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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137409000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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31336000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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32300000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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101388000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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2.15
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CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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IncomeLossFromEquityMethodInvestments
3527000 USD
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us-gaap Income Tax Expense Benefit
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CY2013Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Reconciliation Deductions
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22663000 USD
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13355000 USD
us-gaap Increase Decrease In Accrued Liabilities
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3285000 USD
us-gaap Increase Decrease In Accrued Taxes Payable
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-3953000 USD
us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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8826000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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10795000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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10500000 USD
us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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4573000 USD
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15055000 USD
us-gaap Increase Decrease In Other Operating Assets
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7917000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Operating Liabilities
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CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Interest Expense
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9171000 USD
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crl Business Combination Pro Forma Information Operating Incomeof Acquireesince Acquisition Date Actual
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-390
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CY2014Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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15583000 USD
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15028000 USD
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12053000 USD
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143000 USD
CY2014Q3 us-gaap Investment Income Interest
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376000 USD
us-gaap Investment Income Interest
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803000 USD
us-gaap Investment Income Interest
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476000 USD
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17957000 USD
CY2014Q3 us-gaap Letters Of Credit Outstanding Amount
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5009000 USD
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CY2014Q3 us-gaap Liabilities
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CY2014Q3 us-gaap Liabilities And Stockholders Equity
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CY2013Q4 us-gaap Liabilities And Stockholders Equity
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CY2014Q3 us-gaap Liabilities Fair Value Disclosure
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CY2013Q4 us-gaap Liabilities Fair Value Disclosure
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20581000 USD
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1931000 USD
CY2014Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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2059000 USD
CY2013Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
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8080000 USD
CY2014Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
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CY2014Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2013Q4 us-gaap Long Term Debt
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31723000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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0 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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63000000 USD
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42000000 USD
CY2014Q3 us-gaap Long Term Debt Noncurrent
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3535000 USD
CY2013Q4 us-gaap Minority Interest
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us-gaap Minority Interest Change In Redemption Value
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CY2013Q1 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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152283000 USD
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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978000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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994000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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316000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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30867000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Operating Income Loss
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2249000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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871000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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291000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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752000 USD
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16371000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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42000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Nonoperating Income Expense
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CY2014Q3 us-gaap Other Sundry Liabilities Noncurrent
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Restructuring
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us-gaap Payments For Restructuring
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us-gaap Payments To Acquire Marketable Securities
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15341000 USD
us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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CY2014Q3 us-gaap Preferred Stock Shares Authorized
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20000000 shares
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CY2014Q3 us-gaap Preferred Stock Shares Issued
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0 shares
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0 shares
CY2014Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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CY2014Q3 us-gaap Preferred Stock Value
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CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
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11600000 USD
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CY2014Q3 us-gaap Treasury Stock Shares
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CY2013Q3 us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Value Acquired Cost Method
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34300000 USD
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1300000 USD
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1813000 USD
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189000 USD
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CY2014Q3 crl Business Combination Pro Forma Information Operating Incomeof Acquireesince Acquisition Date Actual
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CY2014Q3 crl Cost Of Repurchase Of Treasury Shares
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20375000 USD
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93072000 USD
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117347000 USD
CY2013Q3 crl Cost Of Repurchase Of Treasury Shares
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65515000 USD
CY2013Q4 crl Effecton Unrecognized Tax Benefitsofadoptionof Asu201311
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11865000 USD
CY2014Q3 crl Effecton Unrecognized Tax Benefitsofadoptionof Asu201311
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16100000 USD
CY2014Q3 crl Equity Method Investments Limited Partnership Committed Contribution
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55000000 USD
crl Goodwill Gross Translation And Other Adjustments
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350000000 USD
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500000 USD
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250000000 USD
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250000000 USD
CY2014Q3 crl Stockholders Equity Including Noncontrolling Interest And Redeemable Noncontrolling Interest
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crl Totalcomprehensiveincome
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77373000 USD
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292129000 USD
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327567000 USD
crl Totalrevenue
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876300000 USD
crl Totalrevenue
Totalrevenue
968114000 USD
CY2014Q3 crl Trade Receivables From Customers
TradeReceivablesFromCustomers
229366000 USD
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TradeReceivablesFromCustomers
190423000 USD
CY2014Q3 crl Transaction Costs
TransactionCosts
492000 USD
crl Transaction Costs
TransactionCosts
5371000 USD
CY2014Q3 crl Unrecognized Tax Benefitsthat Would Impact Effective Tax Rate Period Increase
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400000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-27
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-27
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001100682
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46921688 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CHARLES RIVER LABORATORIES INTERNATIONAL INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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