2021 Q2 Form 10-K Financial Statement

#000159678321000110 Filed on August 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2019 Q2
Revenue $1.188B $947.6M $725.7M
YoY Change 25.39% 30.58% 5.9%
Cost Of Revenue $748.9M $613.0M $469.2M
YoY Change 22.17% 30.65% 3.83%
Gross Profit $439.3M $334.6M $256.5M
YoY Change 31.29% 30.45% 9.9%
Gross Profit Margin 36.97% 35.31% 35.35%
Selling, General & Admin $184.1M $157.2M $142.5M
YoY Change 17.11% 10.32% 15.76%
% of Gross Profit 41.91% 46.98% 55.56%
Research & Development $800.0K $900.0K
YoY Change -11.11% -25.0%
% of Gross Profit 0.24% 0.35%
Depreciation & Amortization $73.00M $66.40M $54.70M
YoY Change 9.94% 21.39% 3.99%
% of Gross Profit 16.62% 19.84% 21.33%
Operating Expenses $186.0M $158.0M $143.4M
YoY Change 17.72% 10.18% 15.37%
Operating Profit $253.3M $176.6M $113.1M
YoY Change 43.43% 56.15% 3.67%
Interest Expense -$30.80M -$19.20M -$31.20M
YoY Change 60.42% -38.46% 285.19%
% of Operating Profit -12.16% -10.87% -27.59%
Other Income/Expense, Net $1.800M $28.20M $13.10M
YoY Change -93.62% 115.27% 6450.0%
Pretax Income $221.5M $179.0M $79.80M
YoY Change 23.74% 124.31% -10.74%
Income Tax $39.10M $24.80M $8.700M
% Of Pretax Income 17.65% 13.85% 10.9%
Net Earnings $182.4M $154.2M $71.10M
YoY Change 18.29% 116.88% -14.03%
Net Earnings / Revenue 15.35% 16.27% 9.8%
Basic Earnings Per Share $0.86 $0.45
Diluted Earnings Per Share $1.064M $0.85 $0.44
COMMON SHARES
Basic Shares Outstanding 170.3M shares 154.9M shares 145.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $967.0M $953.0M $345.4M
YoY Change 1.47% 175.91% -15.8%
Cash & Equivalents $896.0M $953.0M $345.0M
Short-Term Investments $71.00M $0.00
Other Short-Term Assets $47.00M $31.00M $23.60M
YoY Change 51.61% 31.36% 55.26%
Inventory $563.0M $324.0M $257.2M
Prepaid Expenses $46.00M $29.00M $18.70M
Receivables $1.012B $838.0M $693.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.918B $2.293B $1.396B
YoY Change 27.26% 64.28% 12.54%
LONG-TERM ASSETS
Property, Plant & Equipment $2.524B $1.901B $1.537B
YoY Change 32.77% 23.71% 20.94%
Goodwill $2.519B $2.471B $2.221B
YoY Change 1.94% 11.26% 58.96%
Intangibles $817.0M $889.0M $930.8M
YoY Change -8.1% -4.49% 70.82%
Long-Term Investments
YoY Change
Other Assets $268.0M $174.0M $61.20M
YoY Change 54.02% 184.31% 35.4%
Total Long-Term Assets $6.194B $5.484B $4.788B
YoY Change 12.95% 14.53% 45.5%
TOTAL ASSETS
Total Short-Term Assets $2.918B $2.293B $1.396B
Total Long-Term Assets $6.194B $5.484B $4.788B
Total Assets $9.112B $7.777B $6.184B
YoY Change 17.17% 25.76% 36.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $385.0M $321.0M $255.8M
YoY Change 19.94% 25.49% 33.16%
Accrued Expenses $401.0M $303.8M $174.7M
YoY Change 31.99% 73.9% -6.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $59.10M $0.00
YoY Change -100.0%
Long-Term Debt Due $75.00M $13.80M $76.50M
YoY Change 443.48% -81.96% 6.4%
Total Short-Term Liabilities $1.196B $893.0M $670.7M
YoY Change 33.93% 33.14% 16.26%
LONG-TERM LIABILITIES
Long-Term Debt $3.166B $2.945B $2.883B
YoY Change 7.5% 2.16% 8.81%
Other Long-Term Liabilities $175.0M $204.0M $124.3M
YoY Change -14.22% 64.12% 130.19%
Total Long-Term Liabilities $175.0M $204.0M $124.3M
YoY Change -14.22% 64.12% 130.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.196B $893.0M $670.7M
Total Long-Term Liabilities $175.0M $204.0M $124.3M
Total Liabilities $4.838B $4.271B $3.896B
YoY Change 13.28% 9.63% 13.11%
SHAREHOLDERS EQUITY
Retained Earnings $25.00M -$535.0M -$723.4M
YoY Change -104.67% -26.04% -17.05%
Common Stock $4.205B $3.818B $2.757B
YoY Change 10.14% 38.46% 20.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.915B $2.899B $1.682B
YoY Change
Total Liabilities & Shareholders Equity $9.112B $7.777B $6.184B
YoY Change 17.17% 25.76% 36.48%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $182.4M $154.2M $71.10M
YoY Change 18.29% 116.88% -14.03%
Depreciation, Depletion And Amortization $73.00M $66.40M $54.70M
YoY Change 9.94% 21.39% 3.99%
Cash From Operating Activities $134.3M $172.7M $87.90M
YoY Change -22.24% 96.47% -14.91%
INVESTING ACTIVITIES
Capital Expenditures -$188.9M -$162.3M -$88.80M
YoY Change 16.39% 82.77% 51.02%
Acquisitions
YoY Change
Other Investing Activities -$24.20M -$400.0K -$1.164B
YoY Change 5950.0% -99.97%
Cash From Investing Activities -$213.1M -$162.7M -$1.253B
YoY Change 30.98% -87.01% 2030.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.30M 331.0M 1.284B
YoY Change -105.23% -74.22% -23443.64%
NET CHANGE
Cash From Operating Activities 134.3M 172.7M 87.90M
Cash From Investing Activities -213.1M -162.7M -1.253B
Cash From Financing Activities -17.30M 331.0M 1.284B
Net Change In Cash -96.10M 341.0M 119.1M
YoY Change -128.18% 186.31% 205.38%
FREE CASH FLOW
Cash From Operating Activities $134.3M $172.7M $87.90M
Capital Expenditures -$188.9M -$162.3M -$88.80M
Free Cash Flow $323.2M $335.0M $176.7M
YoY Change -3.52% 89.59% 9.01%

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CY2019 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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109000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2019 us-gaap Stock Issued During Period Value New Issues
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CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2019 us-gaap Temporary Equity Stock Issued During Period Value New Issues
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607000000 USD
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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33000000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2019 ctlt Equity Issued In Lieu Of Cash Consideration
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CY2019 us-gaap Dividends Preferred Stock
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CY2019 us-gaap Net Income Loss
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137000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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607000000 USD
CY2020 us-gaap Stock Issued During Period Value New Issues
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CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
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0 USD
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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48000000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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32000000 USD
CY2020 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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3000000 USD
CY2020 us-gaap Dividends Preferred Stock
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33000000 USD
CY2020 us-gaap Net Income Loss
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221000000 USD
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2899000000 USD
CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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607000000 USD
CY2021 us-gaap Stock Issued During Period Value New Issues
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82000000 USD
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
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0 USD
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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253000000 USD
CY2021 us-gaap Temporary Equity Issue Period Increase Or Decrease
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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51000000 USD
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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46000000 USD
CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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38000000 USD
CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
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9000000 USD
CY2021 us-gaap Dividends Preferred Stock
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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3915000000 USD
CY2021Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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359000000 USD
CY2021 us-gaap Profit Loss
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CY2020 us-gaap Profit Loss
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CY2019 us-gaap Profit Loss
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137000000 USD
CY2021 us-gaap Depreciation Depletion And Amortization
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CY2020 us-gaap Depreciation Depletion And Amortization
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CY2019 us-gaap Depreciation Depletion And Amortization
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229000000 USD
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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4000000 USD
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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0 USD
CY2021 ctlt Amortization And Write Off Of Financing Costs
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11000000 USD
CY2020 ctlt Amortization And Write Off Of Financing Costs
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CY2019 ctlt Amortization And Write Off Of Financing Costs
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CY2021 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2020 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2019 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2021 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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182000000 USD
CY2020 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2019 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2021 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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CY2020 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
10000000 USD
CY2019 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
5000000 USD
CY2021 us-gaap Derivative Gain Loss On Derivative Net
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17000000 USD
CY2020 us-gaap Derivative Gain Loss On Derivative Net
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3000000 USD
CY2019 us-gaap Derivative Gain Loss On Derivative Net
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13000000 USD
CY2021 us-gaap Share Based Compensation
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51000000 USD
CY2020 us-gaap Share Based Compensation
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CY2019 us-gaap Share Based Compensation
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33000000 USD
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
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CY2020 us-gaap Increase Decrease In Deferred Income Taxes
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CY2019 us-gaap Increase Decrease In Deferred Income Taxes
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15000000 USD
CY2021 ctlt Provision For Bad Debts And Inventory
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41000000 USD
CY2020 ctlt Provision For Bad Debts And Inventory
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10000000 USD
CY2019 ctlt Provision For Bad Debts And Inventory
ProvisionForBadDebtsAndInventory
13000000 USD
CY2021 us-gaap Increase Decrease In Accounts Receivable
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186000000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
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151000000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
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119000000 USD
CY2021 us-gaap Increase Decrease In Inventories
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260000000 USD
CY2020 us-gaap Increase Decrease In Inventories
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76000000 USD
CY2019 us-gaap Increase Decrease In Inventories
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34000000 USD
CY2021 us-gaap Increase Decrease In Accounts Payable
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50000000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
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72000000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
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36000000 USD
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
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36000000 USD
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
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CY2019 us-gaap Increase Decrease In Other Operating Capital Net
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43000000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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433000000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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440000000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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248000000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1000000 USD
CY2021 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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CY2020 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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21000000 USD
CY2019 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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1291000000 USD
CY2021 us-gaap Payments To Acquire Other Investments
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CY2020 us-gaap Payments To Acquire Other Investments
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CY2019 us-gaap Payments To Acquire Other Investments
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2000000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2020 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2019 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2021 us-gaap Proceeds From Issuance Of Debt
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CY2020 us-gaap Proceeds From Issuance Of Debt
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CY2019 us-gaap Proceeds From Issuance Of Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2020 us-gaap Repayments Of Long Term Debt
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CY2019 us-gaap Repayments Of Long Term Debt
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1290000000 USD
CY2021 us-gaap Payments Of Debt Issuance Costs
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CY2020 us-gaap Payments Of Debt Issuance Costs
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25000000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
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25000000 USD
CY2021 us-gaap Dividends And Interest Paid
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CY2020 us-gaap Dividends And Interest Paid
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36000000 USD
CY2019 us-gaap Dividends And Interest Paid
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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82000000 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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445000000 USD
CY2021 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
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CY2020 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
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0 USD
CY2019 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
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646000000 USD
CY2021 us-gaap Proceeds From Stock Options Exercised
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38000000 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
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0 USD
CY2019 us-gaap Proceeds From Stock Options Exercised
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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32000000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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15000000 USD
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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142000000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
608000000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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345000000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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410000000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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896000000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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953000000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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345000000 USD
CY2021 us-gaap Interest Paid Net
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105000000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
98000000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
103000000 USD
CY2021 us-gaap Income Taxes Paid Net
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47000000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
43000000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
42000000 USD
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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253000000 USD
CY2020 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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0 USD
CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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0 USD
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
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47000000 USD
CY2020Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
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0 USD
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
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0 USD
CY2014Q3 us-gaap Stock Issued During Period Shares New Issues
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48900000 shares
CY2014Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
20.5
CY2021Q2 ctlt Numberof Customers
NumberofCustomers
7000 customer
CY2021 us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesThe preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Such estimates include, but are not limited to, allowance for credit losses, inventory and long-lived asset valuation, goodwill and other intangible asset valuation and impairment, equity-based compensation, income taxes, derivative valuation, and pension plan asset and liability valuation. Actual amounts may differ from these estimated amounts.
CY2021 us-gaap Reclassifications
Reclassifications
ReclassificationCertain prior-period amounts were reclassified to conform to the current period presentation. These reclassifications did not have a material impact on the consolidated statements of operations, consolidated balance sheets, consolidated statements of cash flows, or notes to the consolidated financial statements.
CY2019 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-5000000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk and Major Customers </span></div><div style="margin-top:9pt;text-align:justify;text-indent:24pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concentration of credit risk, with respect to accounts receivable, is limited due to the large number of customers and their dispersion across different geographic areas. The customers are primarily concentrated in the pharmaceutical and consumer products industries. The Company does not normally require collateral or any other security to support credit sales. The Company performs ongoing credit evaluations of its customers’ financial conditions and maintains reserves for credit losses. Such losses historically have been within the Company’s expectations. No single customer exceeded 10% of revenue during the fiscal years ended June 30, 2021, 2020, and 2019. As of June 30, 2021, the Company had one customer that represented 15% or $155 million of its net trade receivables balance. No customer exceeded 10% of trade receivables as of June 30, 2020.</span></div>
CY2021 us-gaap Depreciation
Depreciation
196000000 USD
CY2020 us-gaap Depreciation
Depreciation
165000000 USD
CY2019 us-gaap Depreciation
Depreciation
141000000 USD
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
17000000 USD
CY2020 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
11000000 USD
CY2021 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-9000000 USD
CY2020 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-5000000 USD
CY2021 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="margin-top:9pt;text-align:justify;text-indent:24pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivative Instruments and Hedging Activities</span></div><div style="margin-top:9pt;text-align:justify;text-indent:24pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest-rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments from time to time to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings. The Company does not net any of its derivative positions under master netting arrangements. </span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Primarily, the Company is exposed to fluctuations in the euro-U.S. dollar exchange rate on its investments in foreign operations in Europe. While the Company does not actively hedge against changes in foreign currency, it has mitigated the exposure of investments in its European operations through a net-investment hedge by denominating a portion of its debt in euros. In addition, a portion of Operating Company's interest payment obligation on its U.S dollar-denominated term loans is exposed to interest rate variability. The Company has mitigated its exposure to this risk by entering into interest-rate swap agreements, which qualify for and are designated as cash-flow hedges. Also, as discussed in Note 9, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivative Instruments and Hedging Activities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company has determined that an aspect of the dividend-rate adjustment feature of the Company’s convertible Series A Preferred Stock (as defined below, see Note 13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Equity,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Redeemable Preferred Stock, and Accumulated Other Comprehensive Loss</span>) should be accounted for as a derivative liability.
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21000000 USD
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21000000 USD
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19000000 USD
CY2021 ctlt Segment Reporting Information Inter Segment Revenue Elimination
SegmentReportingInformationInterSegmentRevenueElimination
-19000000 USD
CY2021 us-gaap Revenues
Revenues
3998000000 USD
CY2020 ctlt Segment Reporting Information Inter Segment Revenue Elimination
SegmentReportingInformationInterSegmentRevenueElimination
-10000000 USD
CY2020 us-gaap Revenues
Revenues
3094000000 USD
CY2021 ctlt Eliminationofrevenueattributabletomultiplelocations
Eliminationofrevenueattributabletomultiplelocations
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CY2020 ctlt Eliminationofrevenueattributabletomultiplelocations
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