2016 Q2 Form 10-Q Financial Statement

#000139361216000085 Filed on August 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.090B $1.947B
YoY Change 7.34% 4.51%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $89.00M $90.00M
YoY Change -1.11% 3.45%
% of Gross Profit
Depreciation & Amortization $92.00M $98.00M
YoY Change -6.12% 206.25%
% of Gross Profit
Operating Expenses $89.00M $90.00M
YoY Change -1.11% 3.45%
Operating Profit
YoY Change
Interest Expense $339.0M $311.0M
YoY Change 9.0% 13.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $898.0M $942.0M
YoY Change -4.67% -7.19%
Income Tax $282.0M $343.0M
% Of Pretax Income 31.4% 36.41%
Net Earnings $616.0M $599.0M
YoY Change 2.84% -6.99%
Net Earnings / Revenue 29.47% 30.77%
Basic Earnings Per Share $1.47 $1.33
Diluted Earnings Per Share $1.47 $1.33
COMMON SHARES
Basic Shares Outstanding 410.0M shares 441.0M shares
Diluted Shares Outstanding 411.0M shares 442.0M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.09B $13.30B
YoY Change -1.56% 21.44%
Cash & Equivalents $10.62B $10.60B
Short-Term Investments $2.471B $2.701B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $708.0M $688.0M
YoY Change 2.91% 3.46%
Goodwill $255.0M $255.0M
YoY Change 0.0% -10.21%
Intangibles $167.0M $170.0M
YoY Change -1.76% -5.03%
Long-Term Investments $312.0M $307.0M
YoY Change 1.63% -0.65%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $87.51B $84.91B
YoY Change 3.06% 7.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.906B $3.089B
YoY Change -5.92% 5.28%
Deferred Revenue
YoY Change
Short-Term Debt $144.0M
YoY Change 20.0%
Long-Term Debt Due $1.250B $1.500B
YoY Change -16.67%
Total Short-Term Liabilities $4.156B $4.589B
YoY Change -9.44% 56.41%
LONG-TERM LIABILITIES
Long-Term Debt $23.43B $22.60B
YoY Change 3.68% 12.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $23.43B $22.60B
YoY Change 3.68% 12.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.156B $4.589B
Total Long-Term Liabilities $23.43B $22.60B
Total Liabilities $76.11B $73.65B
YoY Change 3.35% 9.02%
SHAREHOLDERS EQUITY
Retained Earnings $14.19B $12.40B
YoY Change 14.42% 16.33%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.114B $5.395B
YoY Change 31.86% 52.88%
Treasury Stock Shares 155.8M shares 123.2M shares
Shareholders Equity $11.40B $11.26B
YoY Change
Total Liabilities & Shareholders Equity $87.51B $84.91B
YoY Change 3.06% 7.57%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $616.0M $599.0M
YoY Change 2.84% -6.99%
Depreciation, Depletion And Amortization $92.00M $98.00M
YoY Change -6.12% 206.25%
Cash From Operating Activities $658.0M $600.0M
YoY Change 9.67% -6.54%
INVESTING ACTIVITIES
Capital Expenditures -$40.00M -$47.00M
YoY Change -14.89% 56.67%
Acquisitions
YoY Change
Other Investing Activities -$1.538B -$2.247B
YoY Change -31.55% 51.93%
Cash From Investing Activities -$1.578B -$2.294B
YoY Change -31.21% 52.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -598.0M 475.0M
YoY Change -225.89% -148.22%
NET CHANGE
Cash From Operating Activities 658.0M 600.0M
Cash From Investing Activities -1.578B -2.294B
Cash From Financing Activities -598.0M 475.0M
Net Change In Cash -1.518B -1.219B
YoY Change 24.53% -34.18%
FREE CASH FLOW
Cash From Operating Activities $658.0M $600.0M
Capital Expenditures -$40.00M -$47.00M
Free Cash Flow $698.0M $647.0M
YoY Change 7.88% -3.72%

Facts In Submission

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us-gaap Dividends Common Stock
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us-gaap Dividends Common Stock
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CY2015Q2 us-gaap Dividends Preferred Stock
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10000000 USD
us-gaap Dividends Preferred Stock
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19000000 USD
CY2016Q2 us-gaap Dividends Preferred Stock
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10000000 USD
us-gaap Dividends Preferred Stock
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19000000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
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1.33
us-gaap Earnings Per Share Basic
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CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
us-gaap Earnings Per Share Basic
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CY2015Q2 us-gaap Earnings Per Share Diluted
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1.33
us-gaap Earnings Per Share Diluted
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2.61
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.47
us-gaap Earnings Per Share Diluted
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2.81
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.364
us-gaap Effective Income Tax Rate Continuing Operations
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0.359
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.314
us-gaap Effective Income Tax Rate Continuing Operations
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0.343
CY2015Q2 us-gaap Fees And Commissions Credit Cards
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80000000 USD
us-gaap Fees And Commissions Credit Cards
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161000000 USD
CY2016Q2 us-gaap Fees And Commissions Credit Cards
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79000000 USD
us-gaap Fees And Commissions Credit Cards
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159000000 USD
CY2015Q2 us-gaap Fees And Commissions Other
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68000000 USD
us-gaap Fees And Commissions Other
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139000000 USD
CY2016Q2 us-gaap Fees And Commissions Other
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59000000 USD
us-gaap Fees And Commissions Other
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120000000 USD
CY2015Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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1627000000 USD
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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1706000000 USD
CY2015Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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206000000 USD
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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207000000 USD
CY2015Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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122000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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236000000 USD
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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121000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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242000000 USD
CY2015Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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469000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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943000000 USD
CY2016Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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505000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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998000000 USD
CY2015Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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68077000000 USD
CY2016Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
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67889000000 USD
CY2015Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
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1192000000 USD
CY2016Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
1201000000 USD
CY2015Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
460000000 USD
CY2016Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
440000000 USD
CY2015Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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224000000 USD
CY2016Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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212000000 USD
CY2015Q4 us-gaap Financing Receivable Recorded Investment Past Due
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CY2016Q2 us-gaap Financing Receivable Recorded Investment Past Due
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us-gaap Gain Loss On Disposition Of Assets1
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49000000 USD
us-gaap Gain Loss On Disposition Of Assets1
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CY2015Q2 us-gaap Gain Loss On Investments
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us-gaap Gain Loss On Investments
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8000000 USD
CY2016Q2 us-gaap Gain Loss On Investments
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0 USD
us-gaap Gain Loss On Investments
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CY2015Q2 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
26000000 USD
us-gaap Gain Loss On Sale Of Mortgage Loans
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66000000 USD
CY2016Q2 us-gaap Gain Loss On Sale Of Mortgage Loans
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us-gaap Gain Loss On Sale Of Mortgage Loans
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CY2015Q4 us-gaap Goodwill
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CY2016Q2 us-gaap Goodwill
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CY2015Q4 us-gaap Held To Maturity Securities
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121000000 USD
CY2016Q2 us-gaap Held To Maturity Securities
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CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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1000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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3000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
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CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
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CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
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CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
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0 USD
CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Fair Value
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160000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Net Carrying Amount
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157000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
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1000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
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1000000 USD
CY2015Q4 us-gaap Held To Maturity Securities Fair Value
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122000000 USD
CY2016Q2 us-gaap Held To Maturity Securities Fair Value
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161000000 USD
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942000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1850000000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
898000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2015Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2016Q2 us-gaap Income Tax Expense Benefit
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282000000 USD
us-gaap Income Tax Expense Benefit
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us-gaap Increase Decrease In Deposits
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226000000 USD
us-gaap Increase Decrease In Deposits
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983000000 USD
us-gaap Increase Decrease In Other Operating Assets
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75000000 USD
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Restricted Cash
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648000000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Restricted Cash
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CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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168000000 USD
CY2016Q2 us-gaap Intangible Assets Net Excluding Goodwill
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167000000 USD
CY2015Q2 us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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CY2016Q2 us-gaap Interest And Dividend Income Operating
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2090000000 USD
us-gaap Interest And Dividend Income Operating
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4174000000 USD
CY2015Q2 us-gaap Interest And Dividend Income Securities
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12000000 USD
us-gaap Interest And Dividend Income Securities
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25000000 USD
CY2016Q2 us-gaap Interest And Dividend Income Securities
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10000000 USD
us-gaap Interest And Dividend Income Securities
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21000000 USD
CY2015Q2 us-gaap Interest And Fee Income Loans Consumer Installment Credit Card
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1620000000 USD
us-gaap Interest And Fee Income Loans Consumer Installment Credit Card
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3226000000 USD
CY2016Q2 us-gaap Interest And Fee Income Loans Consumer Installment Credit Card
InterestAndFeeIncomeLoansConsumerInstallmentCreditCard
1734000000 USD
us-gaap Interest And Fee Income Loans Consumer Installment Credit Card
InterestAndFeeIncomeLoansConsumerInstallmentCreditCard
3467000000 USD
CY2015Q2 us-gaap Interest And Fee Income Loans Other Consumer
InterestAndFeeIncomeLoansOtherConsumer
308000000 USD
us-gaap Interest And Fee Income Loans Other Consumer
InterestAndFeeIncomeLoansOtherConsumer
612000000 USD
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InterestAndFeeIncomeLoansOtherConsumer
331000000 USD
us-gaap Interest And Fee Income Loans Other Consumer
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657000000 USD
CY2015Q4 us-gaap Interest Bearing Deposit Liabilities
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47094000000 USD
CY2016Q2 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
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CY2015Q4 us-gaap Interest Bearing Deposit Liabilities Domestic
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47094000000 USD
CY2016Q2 us-gaap Interest Bearing Deposit Liabilities Domestic
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48104000000 USD
CY2015Q2 us-gaap Interest Expense
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us-gaap Interest Expense
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CY2016Q2 us-gaap Interest Expense
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339000000 USD
us-gaap Interest Expense
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673000000 USD
CY2015Q2 us-gaap Interest Expense Deposits
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155000000 USD
us-gaap Interest Expense Deposits
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307000000 USD
CY2016Q2 us-gaap Interest Expense Deposits
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166000000 USD
us-gaap Interest Expense Deposits
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328000000 USD
CY2015Q2 us-gaap Interest Expense Long Term Debt
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156000000 USD
us-gaap Interest Expense Long Term Debt
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303000000 USD
CY2016Q2 us-gaap Interest Expense Long Term Debt
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173000000 USD
us-gaap Interest Expense Long Term Debt
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345000000 USD
CY2015Q2 us-gaap Interest Expense Short Term Borrowings
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0 USD
us-gaap Interest Expense Short Term Borrowings
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CY2016Q2 us-gaap Interest Expense Short Term Borrowings
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us-gaap Interest Expense Short Term Borrowings
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CY2015Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
1330000000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
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2569000000 USD
CY2016Q2 us-gaap Interest Income Expense After Provision For Loan Loss
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us-gaap Interest Income Expense After Provision For Loan Loss
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CY2015Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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3265000000 USD
CY2016Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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CY2015Q2 us-gaap Labor And Related Expense
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326000000 USD
us-gaap Labor And Related Expense
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657000000 USD
CY2016Q2 us-gaap Labor And Related Expense
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340000000 USD
us-gaap Labor And Related Expense
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CY2016Q2 us-gaap Liabilities
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2016Q2 us-gaap Liabilities And Stockholders Equity
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CY2014Q4 us-gaap Loans And Leases Receivable Allowance
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CY2015Q2 us-gaap Loans And Leases Receivable Allowance
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CY2016Q1 us-gaap Loans And Leases Receivable Allowance
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CY2016Q2 us-gaap Loans And Leases Receivable Allowance
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1949000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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CY2016Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
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71924000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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CY2016Q2 us-gaap Loans And Leases Receivable Net Reported Amount
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CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
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24650000000 USD
CY2016Q2 us-gaap Long Term Debt And Capital Lease Obligations
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CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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5131000000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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3094000000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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4829000000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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5277000000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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5100000000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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1250000000 USD
CY2015Q4 us-gaap Marketable Securities
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3084000000 USD
CY2016Q2 us-gaap Marketable Securities
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2471000000 USD
CY2015Q2 us-gaap Marketing And Advertising Expense
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199000000 USD
us-gaap Marketing And Advertising Expense
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381000000 USD
CY2016Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
198000000 USD
us-gaap Marketing And Advertising Expense
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360000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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689000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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959000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1663000000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1816000000 USD
CY2015Q2 us-gaap Net Income Loss
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599000000 USD
us-gaap Net Income Loss
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1185000000 USD
CY2016Q2 us-gaap Net Income Loss
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616000000 USD
us-gaap Net Income Loss
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1191000000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
586000000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1159000000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
602000000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1164000000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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589000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1166000000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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606000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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1172000000 USD
CY2015Q4 us-gaap Noninterest Bearing Deposit Liabilities
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437000000 USD
CY2016Q2 us-gaap Noninterest Bearing Deposit Liabilities
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423000000 USD
CY2015Q2 us-gaap Noninterest Expense
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927000000 USD
us-gaap Noninterest Expense
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1800000000 USD
CY2016Q2 us-gaap Noninterest Expense
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906000000 USD
us-gaap Noninterest Expense
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1792000000 USD
CY2015Q2 us-gaap Noninterest Income
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539000000 USD
us-gaap Noninterest Income
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1081000000 USD
CY2016Q2 us-gaap Noninterest Income
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465000000 USD
us-gaap Noninterest Income
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939000000 USD
CY2015Q2 us-gaap Noninterest Income Other
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27000000 USD
us-gaap Noninterest Income Other
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59000000 USD
CY2016Q2 us-gaap Noninterest Income Other
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23000000 USD
us-gaap Noninterest Income Other
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47000000 USD
us-gaap Number Of Reportable Segments
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2 segment
CY2015Q2 us-gaap Occupancy Net
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23000000 USD
us-gaap Occupancy Net
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47000000 USD
CY2016Q2 us-gaap Occupancy Net
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us-gaap Occupancy Net
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47000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
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CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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8000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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9000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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12000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
14000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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36000000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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8000000 USD
CY2015Q4 us-gaap Other Assets
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CY2016Q2 us-gaap Other Assets
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2170000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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-10000000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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-10000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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4000000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
18000000 USD
CY2015Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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11000000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2016Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
6000000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the condensed consolidated financial statements. The Company believes that the estimates used in the preparation of the condensed consolidated financial statements are reasonable. Actual results could differ from these estimates.</font></div></div>

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