2018 Q3 Form 10-Q Financial Statement

#000168856818000133 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $5.013B $5.453B
YoY Change -8.07% 191.45%
Cost Of Revenue $3.518B $4.312B
YoY Change -18.41% 216.36%
Gross Profit $1.495B $1.141B
YoY Change 31.03% 124.61%
Gross Profit Margin 29.82% 20.92%
Selling, General & Admin $569.0M $644.0M
YoY Change -11.65% 119.8%
% of Gross Profit 38.06% 56.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $493.0M $541.0M
YoY Change -8.87% 220.12%
% of Gross Profit 32.98% 47.41%
Operating Expenses $4.681B $5.169B
YoY Change -9.44% 176.12%
Operating Profit $799.0M $740.0M
YoY Change 7.97% 516.67%
Interest Expense $83.00M $73.00M
YoY Change 13.7% 151.72%
% of Operating Profit 10.39% 9.86%
Other Income/Expense, Net
YoY Change
Pretax Income $332.0M $284.0M
YoY Change 16.9% -888.89%
Income Tax $73.00M $79.00M
% Of Pretax Income 21.99% 27.82%
Net Earnings $262.0M $256.0M
YoY Change 2.34% 1606.67%
Net Earnings / Revenue 5.23% 4.69%
Basic Earnings Per Share $0.93 $0.90
Diluted Earnings Per Share $0.92 $0.88
COMMON SHARES
Basic Shares Outstanding 281.4M shares 284.9M shares
Diluted Shares Outstanding 285.8M shares 289.3M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.780B $2.671B
YoY Change 4.08% 167.1%
Cash & Equivalents $2.780B $2.671B
Short-Term Investments
Other Short-Term Assets $477.0M $483.0M
YoY Change -1.24% 14.73%
Inventory
Prepaid Expenses $630.0M $610.0M
Receivables $4.928B $5.676B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.815B $9.440B
YoY Change -6.62% 177.32%
LONG-TERM ASSETS
Property, Plant & Equipment $3.281B $3.745B
YoY Change -12.39% 270.06%
Goodwill $7.417B $9.158B
YoY Change -19.01%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.441B $2.443B
YoY Change -0.08% 69.77%
Total Long-Term Assets $20.07B $23.74B
YoY Change -15.46% 335.28%
TOTAL ASSETS
Total Short-Term Assets $8.815B $9.440B
Total Long-Term Assets $20.07B $23.74B
Total Assets $28.88B $33.18B
YoY Change -12.94% 274.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.358B $1.666B
YoY Change -18.49% 352.72%
Accrued Expenses $3.268B $3.235B
YoY Change 1.02% 191.7%
Deferred Revenue $1.442B
YoY Change
Short-Term Debt $813.0M $1.301B
YoY Change -37.51%
Long-Term Debt Due $229.0M $207.0M
YoY Change 10.63% -70.43%
Total Short-Term Liabilities $8.514B $9.437B
YoY Change -9.78% 241.55%
LONG-TERM LIABILITIES
Long-Term Debt $5.409B $6.325B
YoY Change -14.48% 148.72%
Other Long-Term Liabilities $1.602B $1.984B
YoY Change -19.25% 80.2%
Total Long-Term Liabilities $1.602B $1.984B
YoY Change -19.25% -45.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.514B $9.437B
Total Long-Term Liabilities $1.602B $1.984B
Total Liabilities $17.05B $20.67B
YoY Change -17.53% 200.03%
SHAREHOLDERS EQUITY
Retained Earnings $136.0M $110.0M
YoY Change 23.64%
Common Stock $3.000M $3.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $105.0M $61.00M
YoY Change 72.13%
Treasury Stock Shares 1.241M shares 762.7K shares
Shareholders Equity $11.50B $12.14B
YoY Change
Total Liabilities & Shareholders Equity $28.88B $33.18B
YoY Change -12.94% 274.57%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $262.0M $256.0M
YoY Change 2.34% 1606.67%
Depreciation, Depletion And Amortization $493.0M $541.0M
YoY Change -8.87% 220.12%
Cash From Operating Activities $376.0M $991.0M
YoY Change -62.06% 1882.0%
INVESTING ACTIVITIES
Capital Expenditures -$221.0M -$246.0M
YoY Change -10.16% -524.14%
Acquisitions
YoY Change
Other Investing Activities $457.0M -$132.0M
YoY Change -446.21% -1420.0%
Cash From Investing Activities $236.0M -$378.0M
YoY Change -162.43% -31.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -386.0M -453.0M
YoY Change -14.79% -227.97%
NET CHANGE
Cash From Operating Activities 376.0M 991.0M
Cash From Investing Activities 236.0M -378.0M
Cash From Financing Activities -386.0M -453.0M
Net Change In Cash 226.0M 160.0M
YoY Change 41.25% -210.34%
FREE CASH FLOW
Cash From Operating Activities $376.0M $991.0M
Capital Expenditures -$221.0M -$246.0M
Free Cash Flow $597.0M $1.237B
YoY Change -51.74% -15562.5%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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-6000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
2000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
2000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
1000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
1000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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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
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
109000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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2000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
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CY2018Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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-17000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
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CY2017Q3 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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CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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5000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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2000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
97000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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3000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
7000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
5000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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6000000 USD
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1602000000 USD
us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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72000000 USD
us-gaap Other Operating Income Expense Net
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216000000 USD
CY2018Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
97000000 USD
us-gaap Other Operating Income Expense Net
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191000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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1000000 USD
us-gaap Payments For Repurchase Of Equity
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us-gaap Payments For Repurchase Of Equity
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447000000 USD
us-gaap Payments Of Dividends
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72000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
105000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
66000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
20000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
152000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
43000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
176000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
183000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
123000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
133000000 USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
86000000 USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
125000000 USD
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
496000000 USD
CY2018Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
630000000 USD
us-gaap Proceeds From Collection Of Finance Receivables
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521000000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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0 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
-65000000 USD
us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
1182000000 USD
us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
1158000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
615000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
483000000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
92000000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
36000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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1000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
11000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
20000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
57000000 USD
CY2017Q3 us-gaap Profit Loss
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265000000 USD
us-gaap Profit Loss
ProfitLoss
438000000 USD
CY2018Q3 us-gaap Profit Loss
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259000000 USD
us-gaap Profit Loss
ProfitLoss
525000000 USD
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3363000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
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3281000000 USD
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5481000000 USD
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4928000000 USD
us-gaap Repayments Of Commercial Paper
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1067000000 USD
us-gaap Repayments Of Commercial Paper
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1158000000 USD
us-gaap Repayments Of Lines Of Credit
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335000000 USD
us-gaap Repayments Of Lines Of Credit
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0 USD
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1109000000 USD
us-gaap Repayments Of Long Term Debt
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2036000000 USD
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us-gaap Restructuring Charges
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CY2018Q3 us-gaap Restructuring Charges
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157000000 USD
us-gaap Restructuring Charges
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CY2018Q3 us-gaap Restructuring Reserve
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CY2018Q3 us-gaap Restructuring Reserve Current
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415000000 USD
CY2018Q3 us-gaap Restructuring Reserve Noncurrent
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143000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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1301000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
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136000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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30400000000 USD
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P6M
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Percentage
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0.24
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Revenues
5453000000 USD
us-gaap Revenues
Revenues
10689000000 USD
CY2018Q3 us-gaap Revenues
Revenues
5013000000 USD
us-gaap Revenues
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10295000000 USD
us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
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0 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
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644000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1037000000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
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569000000 USD
us-gaap Selling General And Administrative Expense
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1009000000 USD
us-gaap Share Based Compensation
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58000000 USD
us-gaap Share Based Compensation
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41000000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
22226313 shares
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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45000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
74000000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
25000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
35000000 USD
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
863000000 USD
CY2018Q3 us-gaap Short Term Borrowings
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813000000 USD
us-gaap Stock Issued1
StockIssued1
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us-gaap Stock Issued1
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
70000000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
26000000 USD
CY2017Q2 us-gaap Stock Repurchase Program Authorized Amount1
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2000000000 USD
CY2017Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
250000 shares
CY2017Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
591505 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
841505 shares
CY2018Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3779194 shares
CY2018Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2017Q2 us-gaap Stock Repurchased During Period Value
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19000000 USD
CY2017Q3 us-gaap Stock Repurchased During Period Value
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47000000 USD
us-gaap Stock Repurchased During Period Value
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66000000 USD
CY2018Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
324000000 USD
CY2018Q3 us-gaap Stock Repurchased During Period Value
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127000000 USD
us-gaap Stock Repurchased During Period Value
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CY2018Q1 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Stockholders Equity
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CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2166000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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12507000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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13837000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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11837000000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
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CY2017Q3 us-gaap Tangible Asset Impairment Charges
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0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2018Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2017Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
77.39
CY2017Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
78.20
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
77.96
CY2018Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
85.86
CY2018Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
87.16
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
86.22
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2018Q1 us-gaap Treasury Stock Value
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CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
105000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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4410000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4640000 shares
us-gaap Treasury Stock Value Acquired Cost Method
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20000000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4420000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
289290000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
289380000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
287530000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284870000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284350000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
281370000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
282890000 shares
dxc Expiration Of Financial Guarantees And Standby Letters Of Credit Outstanding
ExpirationOfFinancialGuaranteesAndStandbyLettersOfCreditOutstanding
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The following table summarizes the expiration of the Company&#8217;s financial guarantees and stand-by letters of credit outstanding as of </font><font style="font-family:Arial;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:Arial;font-size:10pt;">:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:40%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(in millions)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#160;Fiscal 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Fiscal 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Fiscal 2021 and Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Totals</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Surety bonds </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">299</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">97</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">436</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Letters of credit </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">122</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">68</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">294</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">484</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Stand-by letters of credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">36</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">27</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">85</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">148</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Totals</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">198</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">394</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">476</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,068</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP, requires the Company's management to make estimates and assumptions that affect amounts reported in the financial statements. The Company bases its estimates on assumptions regarding historical experience, currently available information and anticipated developments that it believes are reasonable and appropriate. However, because the use of estimates involves an inherent degree of uncertainty, actual results could differ from those estimates. In the opinion of the Company's management, the accompanying financial statements of DXC contain all adjustments, including normal recurring adjustments, necessary to present fairly the Company's financial statements. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2019 ("fiscal 2019"). </font></div></div>

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