2015 Q4 Form 10-K Financial Statement

#000106508817000007 Filed on February 06, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $2.322B $2.099B $2.110B
YoY Change -0.04% -2.37% -2.68%
Cost Of Revenue $493.0M $433.0M $434.0M
YoY Change 11.54% 4.84% -63.25%
Gross Profit $1.829B $1.666B $1.676B
YoY Change -2.76% -4.09% -4.61%
Gross Profit Margin 78.77% 79.37% 79.43%
Selling, General & Admin $855.0M $772.0M $941.0M
YoY Change 2.03% -6.65% -29.41%
% of Gross Profit 46.75% 46.34% 56.15%
Research & Development $229.0M $241.0M $232.0M
YoY Change -2.97% -2.03% -50.43%
% of Gross Profit 12.52% 14.47% 13.84%
Depreciation & Amortization $171.0M $182.0M -$47.00M
YoY Change 4.27% -176.79% -112.6%
% of Gross Profit 9.35% 10.92% -2.8%
Operating Expenses $1.167B $1.088B $1.248B
YoY Change 1.48% -4.65% -39.65%
Operating Profit $662.0M $578.0M $428.0M
YoY Change -9.44% -3.02% -49.88%
Interest Expense -$12.00M $87.00M $124.0M
YoY Change -271.43% 411.76% 520.0%
% of Operating Profit -1.81% 15.05% 28.97%
Other Income/Expense, Net
YoY Change
Pretax Income $650.0M $665.0M $552.0M
YoY Change -11.92% 8.48% -36.11%
Income Tax $127.0M $120.0M $122.0M
% Of Pretax Income 19.54% 18.05% 22.1%
Net Earnings $477.0M $539.0M $83.00M
YoY Change -53.37% -19.91% -87.72%
Net Earnings / Revenue 20.54% 25.68% 3.93%
Basic Earnings Per Share $0.40 $0.45 $0.07
Diluted Earnings Per Share $0.39 $0.45 $0.07
COMMON SHARES
Basic Shares Outstanding 1.191B shares 1.210B shares 1.217B shares
Diluted Shares Outstanding 1.204B shares 1.223B shares 1.225B shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.103B $5.271B $10.51B
YoY Change -21.92% -49.09% 43.25%
Cash & Equivalents $1.832B $2.387B $2.409B
Short-Term Investments $4.271B $2.884B $5.539B
Other Short-Term Assets $1.154B $1.152B $1.643B
YoY Change 10.11% -16.76% 29.57%
Inventory
Prepaid Expenses
Receivables $619.0M $595.0M $662.0M
Other Receivables $0.00 $0.00 $14.50B
Total Short-Term Assets $7.904B $8.280B $28.55B
YoY Change -70.21% -67.72% 27.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.554B $1.535B $2.781B
YoY Change 4.58% -45.66% 3.58%
Goodwill $4.451B $4.442B $7.902B
YoY Change -4.71% -51.82% -15.64%
Intangibles
YoY Change
Long-Term Investments $3.391B $3.572B $5.881B
YoY Change -40.88% -39.2% -5.4%
Other Assets $365.0M $419.0M $262.0M
YoY Change 76.33% 61.15% -6.09%
Total Long-Term Assets $9.851B $10.06B $17.11B
YoY Change -47.04% -46.56% -11.18%
TOTAL ASSETS
Total Short-Term Assets $7.904B $8.280B $28.55B
Total Long-Term Assets $9.851B $10.06B $17.11B
Total Assets $17.76B $18.34B $45.66B
YoY Change -60.66% -58.77% 9.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $349.0M $175.0M $368.0M
YoY Change 226.17% -48.38% 17.95%
Accrued Expenses $1.711B $3.074B $3.807B
YoY Change -55.09% -44.55% -31.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $625.0M $865.0M
YoY Change -100.0%
Long-Term Debt Due $0.00 $625.0M $865.0M
YoY Change -100.0% 150.0% -28.1%
Total Short-Term Liabilities $2.263B $4.436B $17.06B
YoY Change -87.09% -73.1% -2.73%
LONG-TERM LIABILITIES
Long-Term Debt $6.749B $6.814B $6.757B
YoY Change -0.41% -7.24% 64.08%
Other Long-Term Liabilities $75.00M $85.00M $123.0M
YoY Change -5.06% -29.17% -48.75%
Total Long-Term Liabilities $6.824B $6.899B $6.880B
YoY Change -0.47% 5649.17% 2766.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.263B $4.436B $17.06B
Total Long-Term Liabilities $6.824B $6.899B $6.880B
Total Liabilities $11.18B $11.85B $25.85B
YoY Change -55.68% -51.97% 14.04%
SHAREHOLDERS EQUITY
Retained Earnings $7.713B $7.255B $19.61B
YoY Change -59.19% -59.42% 13.98%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.20B $15.65B $15.05B
YoY Change 15.29% 21.61% 17.02%
Treasury Stock Shares 443.0M shares 423.0M shares 402.0M shares
Shareholders Equity $6.576B $6.492B $19.81B
YoY Change
Total Liabilities & Shareholders Equity $17.76B $18.34B $45.66B
YoY Change -60.66% -58.77% 9.65%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $477.0M $539.0M $83.00M
YoY Change -53.37% -19.91% -87.72%
Depreciation, Depletion And Amortization $171.0M $182.0M -$47.00M
YoY Change 4.27% -176.79% -112.6%
Cash From Operating Activities $1.040B $686.0M $1.156B
YoY Change -36.62% -49.85% -22.62%
INVESTING ACTIVITIES
Capital Expenditures -$129.0M -$242.0M $25.00M
YoY Change -35.5% -556.6% -109.29%
Acquisitions
YoY Change
Other Investing Activities -$194.0M -$625.0M -$1.722B
YoY Change -115.25% -76.58% 23.71%
Cash From Investing Activities -$323.0M -$867.0M -$1.697B
YoY Change -130.13% -66.86% 2.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.222B -2.354B 7.000M
YoY Change 14.74% -203.2% -101.57%
NET CHANGE
Cash From Operating Activities 1.040B 686.0M 1.156B
Cash From Investing Activities -323.0M -867.0M -1.697B
Cash From Financing Activities -1.222B -2.354B 7.000M
Net Change In Cash -505.0M -2.535B -534.0M
YoY Change -130.64% -345.4% -12.75%
FREE CASH FLOW
Cash From Operating Activities $1.040B $686.0M $1.156B
Capital Expenditures -$129.0M -$242.0M $25.00M
Free Cash Flow $1.169B $928.0M $1.131B
YoY Change -36.5% -29.43% -35.85%

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CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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23000000 USD
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24000000 USD
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32000000 USD
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CY2016 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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20000000 USD
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750000000 USD
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300000000 USD
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3482000000 USD
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6000000 USD
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1554000000 USD
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1516000000 USD
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205000000 USD
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481000000 USD
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0 USD
CY2015 us-gaap Repayments Of Senior Debt
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850000000 USD
CY2016 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
20000000 USD
CY2014 us-gaap Research And Development Expense
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CY2015 us-gaap Research And Development Expense
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CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
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19000 USD
CY2015 us-gaap Restructuring Charges
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62000000 USD
CY2015Q4 us-gaap Restructuring Reserve
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2000000 USD
CY2016Q4 us-gaap Restructuring Reserve
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0 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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7713000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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8790000000 USD
CY2015Q1 us-gaap Sales Revenue Net
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CY2015Q2 us-gaap Sales Revenue Net
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2110000000 USD
CY2015Q3 us-gaap Sales Revenue Net
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2099000000 USD
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
2322000000 USD
CY2015 us-gaap Sales Revenue Net
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CY2016Q1 us-gaap Sales Revenue Net
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2137000000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2230000000 USD
CY2016Q3 us-gaap Sales Revenue Net
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2217000000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
2395000000 USD
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
8979000000 USD
CY2014 us-gaap Selling And Marketing Expense
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2442000000 USD
CY2015 us-gaap Selling And Marketing Expense
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2267000000 USD
CY2016 us-gaap Selling And Marketing Expense
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2368000000 USD
CY2014 us-gaap Share Based Compensation
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344000000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
379000000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
416000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.29 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.27 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.012 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
37000000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y1M6D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y1M5D
CY2015Q4 us-gaap Short Term Borrowings
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0 USD
CY2016Q4 us-gaap Short Term Borrowings
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1451000000 USD
CY2015Q4 us-gaap Short Term Investments
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4299000000 USD
CY2016Q4 us-gaap Short Term Investments
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5333000000 USD
CY2015Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1836000000 USD
CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1336000000 USD
CY2014Q4 us-gaap Stockholders Equity
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19906000000 USD
CY2015Q4 us-gaap Stockholders Equity
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6576000000 USD
CY2016Q4 us-gaap Stockholders Equity
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10539000000 USD
CY2015Q4 us-gaap Taxes Payable Current
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72000000 USD
CY2016Q4 us-gaap Taxes Payable Current
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110000000 USD
CY2016 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
26.28
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
443000000 shares
CY2016Q4 us-gaap Treasury Stock Shares
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557000000 shares
CY2016 us-gaap Treasury Stock Shares Acquired
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114000000 shares
CY2016 us-gaap Treasury Stock Shares Retired
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0 shares
CY2015Q4 us-gaap Treasury Stock Value
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CY2016Q4 us-gaap Treasury Stock Value
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CY2016 us-gaap Treasury Stock Value Acquired Cost Method
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3000000000 USD
CY2014Q1 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
9000000000 USD
CY2016Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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7400000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
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304000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
367000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
440000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
458000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
18000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
20000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
13000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
6000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
33000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
61000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
54000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
59000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
51000000 USD
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47000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
35000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
36000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
24000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
385000000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1229000000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
1204000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1220000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1170000000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
1149000000 shares
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1139000000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
1119000000 shares
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1144000000 shares
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1251000000 shares
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1216000000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
1217000000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
1210000000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
1126000000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
1106000000 shares
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CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:18px;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%;text-align:justify;padding-left:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S.&#160;generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction losses, legal contingencies, income taxes, revenue recognition, stock-based compensation, goodwill and the recoverability of intangible assets. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div></div>

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