2021 Q4 Form 10-Q Financial Statement

#000079005121000233 Filed on October 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.376B $1.316B $1.057B
YoY Change 29.31% 24.47% -17.46%
Cost Of Revenue $982.9M $944.0M $739.1M
YoY Change 27.9% 27.72% -17.91%
Gross Profit $393.1M $371.6M $317.9M
YoY Change 32.98% 16.89% -16.39%
Gross Profit Margin 28.57% 28.25% 30.08%
Selling, General & Admin $193.3M $192.6M $153.0M
YoY Change 19.69% 25.88% -12.57%
% of Gross Profit 49.17% 51.83% 48.13%
Research & Development $12.90M $12.80M $11.50M
YoY Change 3.2% 11.3% -24.34%
% of Gross Profit 3.28% 3.44% 3.62%
Depreciation & Amortization $61.50M $57.60M $56.20M
YoY Change 11.41% 2.49% 9.13%
% of Gross Profit 15.64% 15.5% 17.68%
Operating Expenses $204.6M $205.4M $164.5M
YoY Change 15.01% 24.86% -13.51%
Operating Profit $188.5M $166.5M $154.8M
YoY Change 60.15% 7.56% -18.95%
Interest Expense -$22.00M $19.80M $19.10M
YoY Change 21.55% 3.66% 14.37%
% of Operating Profit -11.67% 11.89% 12.34%
Other Income/Expense, Net -$300.0K -$900.0K -$500.0K
YoY Change -85.0% 80.0% -141.67%
Pretax Income $160.2M $146.0M $135.9M
YoY Change 74.7% 7.43% -23.31%
Income Tax $29.40M $33.00M $33.20M
% Of Pretax Income 18.35% 22.6% 24.43%
Net Earnings $128.1M $142.1M $102.3M
YoY Change 58.93% 38.91% -25.82%
Net Earnings / Revenue 9.31% 10.8% 9.68%
Basic Earnings Per Share $2.70 $1.88
Diluted Earnings Per Share $2.408M $2.67 $1.87
COMMON SHARES
Basic Shares Outstanding 52.28M shares 52.30M shares 54.10M shares
Diluted Shares Outstanding 53.00M shares 54.50M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $324.4M $295.6M $719.0M
YoY Change -64.04% -58.89% 9.25%
Cash & Equivalents $324.4M $295.6M $711.4M
Short-Term Investments
Other Short-Term Assets $284.8M $251.2M $57.60M
YoY Change 373.09% 336.11% 7.66%
Inventory $605.1M $548.9M $514.5M
Prepaid Expenses $49.90M $35.10M $30.70M
Receivables $814.6M $877.5M $721.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.151B $2.082B $2.140B
YoY Change -2.64% -2.73% 1.56%
LONG-TERM ASSETS
Property, Plant & Equipment $759.9M $734.1M $765.9M
YoY Change 13.06% -4.15% 1.16%
Goodwill $2.199B $2.540B $1.727B
YoY Change 33.95% 47.02% 12.56%
Intangibles $2.009B $1.599B $1.064B
YoY Change 109.04% 50.35% 3.12%
Long-Term Investments
YoY Change
Other Assets $128.3M $119.8M $102.8M
YoY Change 19.46% 16.54% -6.88%
Total Long-Term Assets $5.096B $4.993B $3.660B
YoY Change 39.34% 36.42% 6.58%
TOTAL ASSETS
Total Short-Term Assets $2.151B $2.082B $2.140B
Total Long-Term Assets $5.096B $4.993B $3.660B
Total Assets $7.247B $7.075B $5.800B
YoY Change 23.53% 21.98% 4.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $432.4M $481.0M $325.0M
YoY Change 51.99% 48.0% -12.59%
Accrued Expenses $351.2M $332.6M $287.9M
YoY Change 27.9% 15.53% -1.94%
Deferred Revenue $33.90M $35.30M $31.90M
YoY Change 4.31% 10.66% 19.03%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $352.0M $2.400M $900.0K
YoY Change 31900.0% 166.67%
Total Short-Term Liabilities $1.170B $851.3M $645.7M
YoY Change 80.98% 31.84% -6.72%
LONG-TERM LIABILITIES
Long-Term Debt $2.575B $2.924B $2.079B
YoY Change 23.81% 40.62% 30.76%
Other Long-Term Liabilities $622.4M $507.7M $368.0M
YoY Change 80.62% 37.96% 1.35%
Total Long-Term Liabilities $3.448B $3.679B $2.679B
YoY Change 28.53% 37.31% 23.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.170B $851.3M $645.7M
Total Long-Term Liabilities $3.448B $3.679B $2.679B
Total Liabilities $4.617B $4.530B $3.325B
YoY Change 38.71% 36.25% 16.24%
SHAREHOLDERS EQUITY
Retained Earnings $4.238B $4.138B $3.876B
YoY Change 7.87% 6.75% 6.28%
Common Stock $560.2M $552.5M $512.3M
YoY Change 7.65% 7.85% 5.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.063B $2.044B $1.781B
YoY Change 13.71% 14.78% 36.17%
Treasury Stock Shares 26.40M shares 26.30M shares 25.20M shares
Shareholders Equity $2.630B $2.545B $2.475B
YoY Change
Total Liabilities & Shareholders Equity $7.247B $7.075B $5.800B
YoY Change 23.53% 21.98% 4.67%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $128.1M $142.1M $102.3M
YoY Change 58.93% 38.91% -25.82%
Depreciation, Depletion And Amortization $61.50M $57.60M $56.20M
YoY Change 11.41% 2.49% 9.13%
Cash From Operating Activities $137.8M $112.4M $213.9M
YoY Change -46.28% -47.45% -26.85%
INVESTING ACTIVITIES
Capital Expenditures -$45.90M -$33.80M -$24.20M
YoY Change 101.32% 39.67% 55.13%
Acquisitions
YoY Change
Other Investing Activities -$17.30M -$1.326B -$32.50M
YoY Change -350.72% 3979.69% 122.6%
Cash From Investing Activities -$63.20M -$1.360B -$56.70M
YoY Change 297.48% 2298.06% 87.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.80M 818.4M -178.0M
YoY Change -25.41% -559.78% 626.53%
NET CHANGE
Cash From Operating Activities 137.8M 112.4M 213.9M
Cash From Investing Activities -63.20M -1.360B -56.70M
Cash From Financing Activities -45.80M 818.4M -178.0M
Net Change In Cash 28.80M -428.9M -20.80M
YoY Change -83.93% 1962.02% -108.75%
FREE CASH FLOW
Cash From Operating Activities $137.8M $112.4M $213.9M
Capital Expenditures -$45.90M -$33.80M -$24.20M
Free Cash Flow $183.7M $146.2M $238.1M
YoY Change -34.23% -38.6% -22.69%

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238600000 USD
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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21000000.0 USD
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20100000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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19100000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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158100000 USD
CY2020Q4 us-gaap Contract With Customer Liability
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us-gaap Contract With Customer Liability Revenue Recognized
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csl Contractwith Customer Liability Revenue Deferredin Period
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csl Contractwith Customer Liability Revenue Deferredin Period
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2600000 USD
us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
0 USD
CY2021Q3 us-gaap Contract With Customer Liability
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CY2020Q3 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Asset Gross
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73500000 USD
CY2020Q3 us-gaap Contract With Customer Asset Gross
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97400000 USD
csl Increase Decrease In Contract With Customer Asset Including Business Combinations
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-11000000.0 USD
csl Increase Decrease In Contract With Customer Asset Including Business Combinations
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1315600000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1057000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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5300000 USD
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6700000 USD
us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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0 USD
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1800000 USD
CY2021Q3 csl Share Based Payment Arrangement Amortization Of Capitalized Cost
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0 USD
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csl Share Based Payment Arrangement Amortization Of Capitalized Cost
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CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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5500000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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CY2021Q3 us-gaap Severance Costs1
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SeveranceCosts1
3400000 USD
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6300000 USD
us-gaap Severance Costs1
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9400000 USD
CY2021Q3 us-gaap Restructuring Reserve Accelerated Depreciation
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800000 USD
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0 USD
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2900000 USD
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400000 USD
CY2021Q3 us-gaap Business Exit Costs1
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400000 USD
CY2020Q3 us-gaap Business Exit Costs1
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0 USD
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700000 USD
us-gaap Business Exit Costs1
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300000 USD
CY2021Q3 csl Restructuring And Related Cost Facility Clean Up Costs
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500000 USD
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1600000 USD
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2400000 USD
CY2021Q3 us-gaap Other Restructuring Costs
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700000 USD
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100000 USD
us-gaap Other Restructuring Costs
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2200000 USD
us-gaap Other Restructuring Costs
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1500000 USD
CY2021Q3 us-gaap Restructuring Charges
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3600000 USD
CY2020Q3 us-gaap Restructuring Charges
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5100000 USD
us-gaap Restructuring Charges
RestructuringCharges
11600000 USD
us-gaap Restructuring Charges
RestructuringCharges
14000000.0 USD
CY2021Q3 us-gaap Restructuring Charges
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3600000 USD
CY2020Q3 us-gaap Restructuring Charges
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5100000 USD
us-gaap Restructuring Charges
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11600000 USD
us-gaap Restructuring Charges
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14000000.0 USD
CY2021Q3 us-gaap Restructuring Charges
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3600000 USD
CY2020Q3 us-gaap Restructuring Charges
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5100000 USD
us-gaap Restructuring Charges
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11600000 USD
us-gaap Restructuring Charges
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14000000.0 USD
CY2020Q4 us-gaap Restructuring Reserve
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6100000 USD
us-gaap Restructuring Charges
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11600000 USD
us-gaap Payments For Restructuring
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12100000 USD
CY2021Q3 us-gaap Restructuring Reserve
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5600000 USD
us-gaap Effective Income Tax Rate Continuing Operations
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0.205
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0.242
csl Discrete Income Tax Expense Benefit
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12100000 USD
us-gaap Effective Income Tax Rate Continuing Operations
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0.225
CY2021Q3 us-gaap Inventory Raw Materials
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233100000 USD
CY2020Q4 us-gaap Inventory Raw Materials
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168200000 USD
CY2021Q3 us-gaap Goodwill
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2539500000 USD
CY2021Q3 us-gaap Inventory Work In Process
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82100000 USD
CY2020Q4 us-gaap Inventory Work In Process
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67400000 USD
CY2021Q3 us-gaap Inventory Finished Goods
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264100000 USD
CY2020Q4 us-gaap Inventory Finished Goods
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225800000 USD
CY2021Q3 us-gaap Inventory Valuation Reserves
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30400000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
28700000 USD
CY2021Q3 us-gaap Inventory Net
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548900000 USD
CY2020Q4 us-gaap Inventory Net
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432700000 USD
CY2020Q4 us-gaap Goodwill
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1641700000 USD
us-gaap Goodwill Acquired During Period
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903000000.0 USD
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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23600000 USD
CY2021Q3 us-gaap Intangible Assets Gross Excluding Goodwill
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2304800000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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705400000 USD
CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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1575900000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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615000000.0 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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18700000 USD
CY2021Q3 us-gaap Long Term Debt
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2926400000 USD
CY2020Q4 us-gaap Long Term Debt
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CY2021Q3 us-gaap Long Term Debt Current
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2400000 USD
CY2020Q4 us-gaap Long Term Debt Current
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CY2021Q3 us-gaap Long Term Debt Noncurrent
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2924000000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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2080200000 USD
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
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27700000 USD
CY2020Q4 us-gaap Letters Of Credit Outstanding Amount
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25200000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
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30000000.0 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual
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us-gaap Standard Product Warranty Accrual Warranties Issued
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8600000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
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11500000 USD
us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
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us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
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0 USD
us-gaap Standard Product Warranty Accrual Payments
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9200000 USD
us-gaap Standard Product Warranty Accrual Payments
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10500000 USD
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
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300000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual
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29700000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual
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30000000.0 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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10200000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0 USD

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