2012 Q1 Form 10-Q Financial Statement

#000110465912080554 Filed on November 28, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q4 2011 Q3
Revenue $1.970B $1.418B $1.442B
YoY Change -0.35% 3.25% 1.47%
Cost Of Revenue $1.303B $881.1M $963.5M
YoY Change 2.25% 2.75% 3.56%
Gross Profit $667.4M $501.5M $478.2M
YoY Change -5.09% -2.73% -2.48%
Gross Profit Margin 33.88% 35.38% 33.17%
Selling, General & Admin $454.1M $416.0M $408.2M
YoY Change -0.44% 1.44% 1.04%
% of Gross Profit 68.04% 82.95% 85.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.20M $65.20M $64.60M
YoY Change -5.37% -0.31% -0.46%
% of Gross Profit 9.77% 13.0% 13.51%
Operating Expenses $519.1M $480.7M $472.3M
YoY Change -1.03% 1.18% 0.81%
Operating Profit $148.3M $20.83M $5.924M
YoY Change -17.01% -48.56% -72.95%
Interest Expense -$17.60M -$17.80M -$18.40M
YoY Change -4.35% -1.11% -0.54%
% of Operating Profit -11.87% -85.44% -310.6%
Other Income/Expense, Net
YoY Change
Pretax Income $217.1M $39.52M $24.30M
YoY Change 33.52% 83.8% 219.74%
Income Tax $76.10M -$188.4M $7.000M
% Of Pretax Income 35.05% -476.64% 28.81%
Net Earnings $141.5M $228.2M $17.60M
YoY Change 29.11% 1484.72% 158.82%
Net Earnings / Revenue 7.18% 16.1% 1.22%
Basic Earnings Per Share $4.38
Diluted Earnings Per Share $2.77 $4.31 $0.32
COMMON SHARES
Basic Shares Outstanding 52.11M shares
Diluted Shares Outstanding 52.95M shares

Balance Sheet

Concept 2012 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $224.3M $106.4M $179.5M
YoY Change -34.66% -36.33% -16.39%
Cash & Equivalents $224.3M $106.4M $179.5M
Short-Term Investments
Other Short-Term Assets $34.63M $63.07M $44.20M
YoY Change -18.53% -4.59% 0.68%
Inventory $1.304B $1.757B $1.358B
Prepaid Expenses
Receivables $28.70M $20.30M $19.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.592B $1.971B $1.601B
YoY Change -6.47% -1.1% -2.76%
LONG-TERM ASSETS
Property, Plant & Equipment $2.440B $2.476B $2.515B
YoY Change -5.98% -6.54% -6.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.200M
YoY Change
Other Assets $274.1M $269.6M $61.60M
YoY Change 257.42% 289.07% -11.24%
Total Long-Term Assets $2.714B $2.746B $2.576B
YoY Change 1.58% 0.99% -6.9%
TOTAL ASSETS
Total Short-Term Assets $1.592B $1.971B $1.601B
Total Long-Term Assets $2.714B $2.746B $2.576B
Total Assets $4.306B $4.717B $4.177B
YoY Change -1.56% 0.11% -5.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $655.7M $1.029B $706.9M
YoY Change -4.87% -1.96% 0.74%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $142.0M $0.00
YoY Change
Long-Term Debt Due $76.79M $57.22M $51.50M
YoY Change 49.39% 11.54% 1880.77%
Total Short-Term Liabilities $870.4M $1.299B $822.4M
YoY Change 4.71% 14.93% 11.02%
LONG-TERM LIABILITIES
Long-Term Debt $614.8M $634.8M $906.6M
YoY Change -32.34% -30.21% -5.21%
Other Long-Term Liabilities $245.2M $206.5M $206.1M
YoY Change 19.1% -2.21% -1.62%
Total Long-Term Liabilities $860.0M $841.3M $1.113B
YoY Change -22.84% -24.93% -4.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $870.4M $1.299B $822.4M
Total Long-Term Liabilities $860.0M $841.3M $1.113B
Total Liabilities $1.730B $2.140B $2.246B
YoY Change -24.35% -17.53% 0.38%
SHAREHOLDERS EQUITY
Retained Earnings $3.107B $2.968B $2.743B
YoY Change 17.11%
Common Stock $830.0M $830.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.846B $1.748B
YoY Change
Treasury Stock Shares 73.10M shares
Shareholders Equity $2.052B $2.034B $1.931B
YoY Change
Total Liabilities & Shareholders Equity $4.306B $4.717B $4.177B
YoY Change -1.56% 0.11% -5.36%

Cashflow Statement

Concept 2012 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $141.5M $228.2M $17.60M
YoY Change 29.11% 1484.72% 158.82%
Depreciation, Depletion And Amortization $65.20M $65.20M $64.60M
YoY Change -5.37% -0.31% -0.46%
Cash From Operating Activities $365.5M $10.60M $65.80M
YoY Change 3.25% -64.9% 35.95%
INVESTING ACTIVITIES
Capital Expenditures -$35.40M -$31.60M -$31.70M
YoY Change 45.08% 95.06% -35.57%
Acquisitions
YoY Change
Other Investing Activities $31.90M -$14.60M $12.60M
YoY Change 1176.0% -830.0% 207.32%
Cash From Investing Activities -$3.400M -$46.20M -$19.10M
YoY Change -84.47% 225.35% -57.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -244.2M -37.50M -14.50M
YoY Change 56.64% -41.04% -84.54%
NET CHANGE
Cash From Operating Activities 365.5M 10.60M 65.80M
Cash From Investing Activities -3.400M -46.20M -19.10M
Cash From Financing Activities -244.2M -37.50M -14.50M
Net Change In Cash 117.9M -73.10M 32.20M
YoY Change -33.09% 53.57% -135.54%
FREE CASH FLOW
Cash From Operating Activities $365.5M $10.60M $65.80M
Capital Expenditures -$35.40M -$31.60M -$31.70M
Free Cash Flow $400.9M $42.20M $97.50M
YoY Change 5.95% -9.05% -0.1%

Facts In Submission

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OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
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OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
411000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
2754000 USD
CY2012Q4 dds Gain Loss On Disposition Of Assets And Investments
GainLossOnDispositionOfAssetsAndInvestments
1072000 USD
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GainLossOnDispositionOfAssetsAndInvestments
1456000 USD
dds Gain Loss On Disposition Of Assets And Investments
GainLossOnDispositionOfAssetsAndInvestments
2211000 USD
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
72724000 USD
CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
39518000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
268047000 USD
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24231000 USD
CY2011Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-188360000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
94531000 USD
CY2012Q4 dds Income On And Equity In Losses Of Joint Ventures
IncomeOnAndEquityInLossesOfJointVentures
21000 USD
CY2011Q4 dds Income On And Equity In Losses Of Joint Ventures
IncomeOnAndEquityInLossesOfJointVentures
293000 USD
dds Income On And Equity In Losses Of Joint Ventures
IncomeOnAndEquityInLossesOfJointVentures
1003000 USD
CY2012Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48514000 USD
CY2011Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
228171000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
174519000 USD
CY2012Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2359000 USD
CY2012Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
49432000 USD
CY2011Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
228582000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
177273000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
323646000 USD
CY2012Q4 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
522000 USD
CY2011Q4 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
237000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
1566000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
712000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
195489000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
194272000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
2376000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5688000 USD
us-gaap Increase Decrease In Retail Related Inventories
IncreaseDecreaseInRetailRelatedInventories
418319000 USD
us-gaap Increase Decrease In Retail Related Inventories
IncreaseDecreaseInRetailRelatedInventories
466379000 USD
us-gaap Increase Decrease In Other Current Assets
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31969000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
20531000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-9264000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
205503000 USD
dds Increase Decrease In Trade Accounts Payable Accrued Expenses And Other Liabilities
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383047000 USD
dds Increase Decrease In Trade Accounts Payable Accrued Expenses And Other Liabilities
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338632000 USD
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-85524000 USD
dds Increase Decrease In Accrued Income Taxes Including Deferred Tax Liabilities
IncreaseDecreaseInAccruedIncomeTaxesIncludingDeferredTaxLiabilities
-20048000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
219873000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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135553000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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111910000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
80304000 USD
dds Proceeds From Sale Of Property Plant And Equipment And Joint Venture Investment
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11978000 USD
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22966000 USD
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2481000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-99932000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-79758000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
78190000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
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55773000 USD
us-gaap Payments Of Dividends Common Stock
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7533000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
392388000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10820000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
10171000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-292703000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6796000 USD
us-gaap Stock Issued1
StockIssued1
2762000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
9839000 USD
CY2012Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.0171 pure
CY2012Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000 USD
CY2012Q4 dds Line Of Credit Facility Borrowing Capacity As Percentage Of Inventory
LineOfCreditFacilityBorrowingCapacityAsPercentageOfInventory
0.90 pure
CY2012Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1000000000 USD
CY2012Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
911000000 USD
us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00375 pure
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
142000000 USD
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2245000 shares
CY2012Q4 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
27000000 USD
CY2012Q1 us-gaap Restructuring Reserve
RestructuringReserve
738000 USD
CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
649000 USD
us-gaap Restructuring Reserve Period Expense
RestructuringReservePeriodExpense
833000 USD
us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
922000 USD
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47127000 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52107000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48265000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54611000 shares
CY2012Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
978000 shares
CY2011Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
843000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
951000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
963000 shares
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48105000 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52950000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49216000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55574000 shares
CY2012Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
61900000 USD
CY2012Q4 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1200000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3300000 USD
CY2012Q4 us-gaap Defined Benefit Plan Estimated Future Employer Contributions In Current Fiscal Year
DefinedBenefitPlanEstimatedFutureEmployerContributionsInCurrentFiscalYear
1100000 USD
CY2012Q4 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
817000 USD
CY2011Q4 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
831000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2450000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2494000 USD
CY2012Q4 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1823000 USD
CY2011Q4 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1800000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
5470000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
5400000 USD
CY2012Q4 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1283000 USD
CY2011Q4 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-492000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3849000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1475000 USD
CY2012Q4 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
157000 USD
CY2011Q4 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
157000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
470000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
470000 USD
CY2012Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4080000 USD
CY2011Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3280000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
12239000 USD
dds Number Of Former Retail Store Locations
NumberOfFormerRetailStoreLocations
3 store
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
173000 USD
CY2011Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
142000000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2100000 shares
dds Number Of Former Retail Store Locations
NumberOfFormerRetailStoreLocations
2 store
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
24901000 USD
CY2011Q4 dds Tax Benefit From Capital Loss Carryforwards Valuation Allowance Reversal
TaxBenefitFromCapitalLossCarryforwardsValuationAllowanceReversal
201600000 USD
dds Tax Benefit From Capital Loss Carryforwards Valuation Allowance Reversal
TaxBenefitFromCapitalLossCarryforwardsValuationAllowanceReversal
201600000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
24901000 USD
CY2011Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2742624000 USD

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