2019 Q2 Form 10-Q Financial Statement

#000162836919000019 Filed on August 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $2.122B $1.974B $1.768B
YoY Change 7.47% 16.09% 20.97%
Cost Of Revenue $1.687B $1.566B $1.473B
YoY Change 7.71% 19.14%
Gross Profit $434.6M $408.0M $294.4M
YoY Change 6.52% 31.02%
Gross Profit Margin 20.48% 20.67% 16.65%
Selling, General & Admin $306.9M $312.6M $295.6M
YoY Change -1.82% 11.25%
% of Gross Profit 70.62% 76.62% 100.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $74.30M $71.60M $69.80M
YoY Change 3.77% 8.65% 10.79%
% of Gross Profit 17.1% 17.55% 23.71%
Operating Expenses $306.9M $312.6M $295.6M
YoY Change -1.82% 11.25% -13.11%
Operating Profit $53.20M $30.70M -$81.90M
YoY Change 73.29% -186.24% -30.71%
Interest Expense $38.20M $52.00M $44.40M
YoY Change -26.54% 18.18% -196.73%
% of Operating Profit 71.8% 169.38%
Other Income/Expense, Net $2.200M $2.000M $1.000M
YoY Change 10.0% 900.0% 900.0%
Pretax Income $17.70M -$18.90M -$124.9M
YoY Change -193.65% -76.32% -22.61%
Income Tax $11.40M $14.60M -$32.00M
% Of Pretax Income 64.41%
Net Earnings $6.300M -$33.50M -$92.90M
YoY Change -118.81% -29.18% -21.2%
Net Earnings / Revenue 0.3% -1.7% -5.26%
Basic Earnings Per Share $0.03 -$0.23 -$0.64
Diluted Earnings Per Share $0.03 -$0.23 -$0.64
COMMON SHARES
Basic Shares Outstanding 216.9M shares 145.7M shares
Diluted Shares Outstanding 224.8M shares 145.7M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $423.7M $382.4M $438.7M
YoY Change 10.8%
Cash & Equivalents $423.7M $382.4M $438.7M
Short-Term Investments
Other Short-Term Assets $191.3M $199.7M $209.6M
YoY Change -4.21%
Inventory
Prepaid Expenses
Receivables $1.610B $1.486B $1.414B
Other Receivables $39.50M $11.40M $16.30M
Total Short-Term Assets $2.264B $2.079B $2.078B
YoY Change 8.88%
LONG-TERM ASSETS
Property, Plant & Equipment $299.6M $289.5M $303.6M
YoY Change 3.49%
Goodwill $1.950B $1.750B
YoY Change 11.43%
Intangibles $1.147B $1.204B
YoY Change -4.77%
Long-Term Investments $9.800M $7.300M $9.900M
YoY Change 34.25%
Other Assets $479.1M $447.8M $479.2M
YoY Change 6.99%
Total Long-Term Assets $4.495B $3.767B $3.857B
YoY Change 19.31%
TOTAL ASSETS
Total Short-Term Assets $2.264B $2.079B $2.078B
Total Long-Term Assets $4.495B $3.767B $3.857B
Total Assets $6.759B $5.847B $5.935B
YoY Change 15.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $945.0M $689.8M $709.9M
YoY Change 37.0%
Accrued Expenses $738.5M $834.2M $800.1M
YoY Change -11.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $37.00M $35.50M $40.80M
YoY Change 4.23%
Total Short-Term Liabilities $1.946B $1.869B $1.911B
YoY Change 4.08%
LONG-TERM LIABILITIES
Long-Term Debt $2.631B $3.002B $3.026B
YoY Change -12.35%
Other Long-Term Liabilities $346.4M $389.5M $393.7M
YoY Change -11.07%
Total Long-Term Liabilities $2.978B $3.392B $3.420B
YoY Change -12.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.946B $1.869B $1.911B
Total Long-Term Liabilities $2.978B $3.392B $3.420B
Total Liabilities $5.471B $5.406B $5.449B
YoY Change 1.2%
SHAREHOLDERS EQUITY
Retained Earnings -$1.312B -$1.254B
YoY Change 4.65%
Common Stock $21.70M $14.60M
YoY Change 48.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.288B $436.8M $480.5M
YoY Change
Total Liabilities & Shareholders Equity $6.759B $5.847B $5.935B
YoY Change 15.6%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $6.300M -$33.50M -$92.90M
YoY Change -118.81% -29.18% -21.2%
Depreciation, Depletion And Amortization $74.30M $71.60M $69.80M
YoY Change 3.77% 8.65% 10.79%
Cash From Operating Activities $56.60M -$8.800M -$170.6M
YoY Change -743.18% -86.36% -2.29%
INVESTING ACTIVITIES
Capital Expenditures -$16.60M -$10.70M $20.60M
YoY Change 55.14% -73.25% -172.28%
Acquisitions $0.00
YoY Change
Other Investing Activities -$7.700M -$6.000M -$200.0K
YoY Change 28.33% -233.33% -100.24%
Cash From Investing Activities -$24.30M -$16.70M -$20.20M
YoY Change 45.51% -52.96% -137.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.400M
YoY Change
Debt Paid & Issued, Net $26.60M
YoY Change
Cash From Financing Activities -19.90M -39.90M $221.0M
YoY Change -50.13% -121.14% -1593.24%
NET CHANGE
Cash From Operating Activities 56.60M -8.800M -$170.6M
Cash From Investing Activities -24.30M -16.70M -$20.20M
Cash From Financing Activities -19.90M -39.90M $221.0M
Net Change In Cash 12.40M -65.40M $30.20M
YoY Change -118.96% -173.73% -122.17%
FREE CASH FLOW
Cash From Operating Activities $56.60M -$8.800M -$170.6M
Capital Expenditures -$16.60M -$10.70M $20.60M
Free Cash Flow $73.20M $1.900M -$191.2M
YoY Change 3752.63% -107.76% 30.87%

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56000000 USD
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71600000 USD
us-gaap Depreciation Depletion And Amortization
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141400000 USD
CY2019Q2 us-gaap Depreciation Depletion And Amortization
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74300000 USD
us-gaap Depreciation Depletion And Amortization
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147800000 USD
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us-gaap Earnings Per Share Basic
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CY2019Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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CY2019Q2 us-gaap Earnings Per Share Diluted
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0.03
us-gaap Earnings Per Share Diluted
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1900000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1500000 USD
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621400000 USD
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8700000 USD
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9800000 USD
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100000 USD
us-gaap Finance Lease Interest Payment On Liability
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200000 USD
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18500000 USD
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10100000 USD
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8400000 USD
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19200000 USD
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0 USD
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Five
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0 USD
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300000 USD
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2800000 USD
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6000000 USD
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10100000 USD
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700000 USD
us-gaap Finance Lease Principal Payments
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7500000 USD
us-gaap Finance Lease Principal Payments
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6000000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
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20300000 USD
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2200000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
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4700000 USD
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0.028
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P2Y3M19D
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CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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735100000 USD
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2019Q2 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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173000000 USD
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0 USD
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0 USD
us-gaap Goodwill Impairment Loss
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0 USD
CY2019Q2 us-gaap Goodwill Impairment Loss
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0 USD
us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Purchase Accounting Adjustments
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CY2019Q2 us-gaap Guarantee Obligations Maximum Exposure
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40800000 USD
CY2018Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
CY2019Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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17700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018Q2 us-gaap Income Loss From Equity Method Investments
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400000 USD
us-gaap Income Loss From Equity Method Investments
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800000 USD
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500000 USD
us-gaap Income Loss From Equity Method Investments
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1300000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2019Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Taxes Paid
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27400000 USD
us-gaap Income Taxes Paid
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35200000 USD
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41100000 USD
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39500000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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35600000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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40200000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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25000000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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101400000 USD
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us-gaap Increase Decrease In Employee Related Liabilities
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-200700000 USD
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us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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41400000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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111300000 USD
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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6700000 USD
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us-gaap Interest Expense
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us-gaap Interest Expense
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75400000 USD
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85000000 USD
us-gaap Interest Paid Net
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76800000 USD
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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84200000 USD
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125100000 USD
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us-gaap Liabilities Assumed1
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Operating Income Loss
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us-gaap Operating Lease Cost
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31000000 USD
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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1500000 USD
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Payments To Acquire Investments
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us-gaap Proceeds From Issuance Of Common Stock
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250000000 USD
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200000 USD
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300000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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300000 USD
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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8800000 USD
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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9400000 USD
CY2019Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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1800000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
4000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
608200000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
54000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
13700000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
62300000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
52200000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
70100000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
52800000 USD
CY2018Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-6400000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
4000000 USD
CY2019Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
200000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
4100000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1298400000 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1311800000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1974300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3742000000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2121700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4024700000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
5000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
34300000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
312600000 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
306900000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
593700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
28700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
30000000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4600000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8800000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
499400000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
480500000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
436800000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1360100000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1330400000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1288000000 USD
CY2018Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
3400000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
3400000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
4000000 USD
us-gaap Sublease Income
SubleaseIncome
6200000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
7400000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
14000000 USD
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145500000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
224800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216800000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145500000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216800000 shares

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