2013 Q4 Form 10-K Financial Statement

#000006480315000008 Filed on February 10, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $32.83B $31.93B $31.25B
YoY Change 4.56% 5.61% 1.8%
Cost Of Revenue $26.45B $25.91B $25.41B
YoY Change 5.37% 5.39% 0.56%
Gross Profit $6.338B $6.027B $5.841B
YoY Change 0.7% 6.77% 7.31%
Gross Profit Margin 19.31% 18.87% 18.69%
Selling, General & Admin $4.122B $3.873B $3.869B
YoY Change 3.2% 1.04% 3.42%
% of Gross Profit 65.04% 64.26% 66.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.122B $3.873B $3.869B
YoY Change 3.2% 1.04% 3.42%
Operating Profit $2.217B $2.154B $1.972B
YoY Change -3.57% 18.87% 15.86%
Interest Expense -$135.0M $125.0M $127.0M
YoY Change -15.63% -7.41% -3.79%
% of Operating Profit -6.09% 5.8% 6.44%
Other Income/Expense, Net
YoY Change
Pretax Income $2.074B $2.032B $1.846B
YoY Change 16.71% 20.95% 17.13%
Income Tax $812.0M $777.0M $721.0M
% Of Pretax Income 39.15% 38.24% 39.06%
Net Earnings $1.265B $1.249B $1.124B
YoY Change 12.44% 24.28% 16.96%
Net Earnings / Revenue 3.85% 3.91% 3.6%
Basic Earnings Per Share $1.06 $1.03 $0.92
Diluted Earnings Per Share $1.05 $1.02 $0.91
COMMON SHARES
Basic Shares Outstanding 1.190B shares 1.218B shares 1.227B shares
Diluted Shares Outstanding 1.226B shares 1.236B shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.177B $1.613B $1.179B
YoY Change 202.68% 30.29% -35.5%
Cash & Equivalents $4.089B $1.505B $1.174B
Short-Term Investments $88.00M $108.0M $5.000M
Other Short-Term Assets $472.0M $401.0M $413.0M
YoY Change -18.2% 89.15% -55.06%
Inventory $11.05B $10.83B $10.58B
Prepaid Expenses
Receivables $8.729B $8.035B $7.093B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $25.33B $21.43B $19.87B
YoY Change 25.61% 13.52% 2.95%
LONG-TERM ASSETS
Property, Plant & Equipment $8.615B $8.749B $8.708B
YoY Change -0.2% 4.54% 1.09%
Goodwill $26.54B $26.55B $26.55B
YoY Change 0.56% 0.48% 0.49%
Intangibles $9.529B $9.587B $9.657B
YoY Change -2.3% -2.18%
Long-Term Investments
YoY Change
Other Assets $1.515B $1.487B $1.496B
YoY Change 18.36% 12.23% 10.0%
Total Long-Term Assets $46.20B $46.37B $46.42B
YoY Change 0.31% 0.99% 0.27%
TOTAL ASSETS
Total Short-Term Assets $25.33B $21.43B $19.87B
Total Long-Term Assets $46.20B $46.37B $46.42B
Total Assets $71.53B $67.81B $66.28B
YoY Change 8.01% 4.64% 1.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.548B $5.412B $5.178B
YoY Change 9.43% 6.31% -39.45%
Accrued Expenses $4.768B $3.940B $3.501B
YoY Change 8.09% 8.9% -20.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $814.0M $0.00
YoY Change -100.0% -1.33% -100.0%
Long-Term Debt Due $561.0M $572.0M $18.00M
YoY Change 11120.0% 11340.0% 260.0%
Total Short-Term Liabilities $15.43B $15.10B $12.69B
YoY Change 9.01% 13.84% -3.4%
LONG-TERM LIABILITIES
Long-Term Debt $12.84B $8.819B $9.358B
YoY Change 40.6% -4.25% 1.63%
Other Long-Term Liabilities $1.421B $1.563B $1.534B
YoY Change -5.33% 3.3% 6.68%
Total Long-Term Liabilities $14.26B $10.38B $10.89B
YoY Change 34.12% -3.18% 2.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.43B $15.10B $12.69B
Total Long-Term Liabilities $14.26B $10.38B $10.89B
Total Liabilities $29.69B $25.48B $23.58B
YoY Change 19.78% 6.23% -14.79%
SHAREHOLDERS EQUITY
Retained Earnings $28.49B $27.55B $26.57B
YoY Change 13.98% 14.21%
Common Stock $17.00M $17.00M $17.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.17B $18.46B $16.99B
YoY Change 23.96% 15.84%
Treasury Stock Shares 500.0M shares 473.0M shares 448.0M shares
Shareholders Equity $37.94B $38.53B $38.91B
YoY Change
Total Liabilities & Shareholders Equity $71.53B $67.81B $66.28B
YoY Change 8.01% 4.64% 1.06%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $1.265B $1.249B $1.124B
YoY Change 12.44% 24.28% 16.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.538B $1.703B $902.0M
YoY Change -11.15% 84.51% -26.73%
INVESTING ACTIVITIES
Capital Expenditures -$654.0M -$526.0M -$486.0M
YoY Change -8.66% 6.05% 9.95%
Acquisitions
YoY Change
Other Investing Activities $441.0M -$3.000M -$40.00M
YoY Change 782.0% -100.75% -80.0%
Cash From Investing Activities -$213.0M -$529.0M -$526.0M
YoY Change -68.02% 439.8% -18.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.261B -850.0M -751.0M
YoY Change -236.62% -39.93% -23.13%
NET CHANGE
Cash From Operating Activities 1.538B 1.703B 902.0M
Cash From Investing Activities -213.0M -529.0M -526.0M
Cash From Financing Activities 1.261B -850.0M -751.0M
Net Change In Cash 2.586B 324.0M -375.0M
YoY Change 1721.13% -154.92% -3.35%
FREE CASH FLOW
Cash From Operating Activities $1.538B $1.703B $902.0M
Capital Expenditures -$654.0M -$526.0M -$486.0M
Free Cash Flow $2.192B $2.229B $1.388B
YoY Change -10.42% 57.08% -17.04%

Facts In Submission

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CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2014 us-gaap Interest Expense
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13300000000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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575000000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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1300000000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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1300000000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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1200000 USD
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CY2014Q4 us-gaap Long Term Debt Noncurrent
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2 item
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CY2014Q4 us-gaap Minority Interest
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2013Q1 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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CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014 us-gaap Number Of Reportable Segments
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CY2013Q1 us-gaap Operating Income Loss
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CY2014 us-gaap Operating Leases Rent Expense Minimum Rentals
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CY2014Q4 us-gaap Other Assets Current
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CY2012 us-gaap Payments For Repurchase Of Common Stock
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CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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2030000000 USD
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1984000000 USD
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2136000000 USD
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CY2013 us-gaap Payments To Acquire Short Term Investments
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226000000 USD
CY2014 us-gaap Payments To Acquire Short Term Investments
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157000000 USD
CY2012 us-gaap Payments To Suppliers
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0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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100000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
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CY2013Q4 us-gaap Preferred Stock Shares Issued
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CY2014Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
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7000000 USD
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CY2014 us-gaap Proceeds From Divestiture Of Businesses
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CY2012 us-gaap Proceeds From Interest Received
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CY2013Q4 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2012 us-gaap Profit Loss
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17408000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
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CY2014Q4 us-gaap Property Plant And Equipment Net
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8843000000 USD
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33000000 USD
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CY2012 us-gaap Repayments Of Long Term Debt
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1718000000 USD
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CY2014 us-gaap Repayments Of Long Term Debt
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3100000000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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28493000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2012 us-gaap Revenues
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CY2013Q1 us-gaap Revenues
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CY2013Q2 us-gaap Revenues
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CY2013Q4 us-gaap Revenues
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CY2013 us-gaap Revenues
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CY2014Q3 us-gaap Revenues
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CY2014Q4 us-gaap Revenues
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CY2014 us-gaap Revenues
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CY2014 us-gaap Sale Leaseback Transaction Net Proceeds
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CY2012 us-gaap Share Based Compensation
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CY2013 us-gaap Share Based Compensation
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CY2014 us-gaap Share Based Compensation
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321000000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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282000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
372000000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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1336774863 USD
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27394000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
47.51
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y1M10D
CY2013Q4 us-gaap Short Term Borrowings
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CY2014Q4 us-gaap Short Term Borrowings
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685000000 USD
CY2013Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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0.0027
CY2014Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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0.0036
CY2013Q4 us-gaap Short Term Investments
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CY2014Q4 us-gaap Short Term Investments
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34000000 USD
CY2014Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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11000000 USD
CY2012Q4 us-gaap Stockholders Equity
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CY2013Q4 us-gaap Stockholders Equity
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CY2014Q4 us-gaap Stockholders Equity
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37653000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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37938000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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37963000000 USD
CY2013Q4 us-gaap Treasury Stock Shares
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500000000 shares
CY2014 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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6000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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12000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
17000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
15000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
170000000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
550000000 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
20169000000 USD
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
24078000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
80000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
117000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
188000000 USD
CY2010Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
38000000 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
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
15000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
10000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
11000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
15000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
19000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
32000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
42000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
37000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
70000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
4000000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
149000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
195000000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
185000000 USD
CY2012 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
95000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
182000000 USD
CY2014 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
185000000 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1280000000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1226000000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1169000000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1271000000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1217000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1161000000 shares
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of estimates</font><font style="font-family:inherit;font-size:10pt;"> - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates</font></div></div>

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