2017 Q4 Form 10-K Financial Statement

#000106508818000009 Filed on February 05, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017
Revenue $2.613B $2.409B $9.567B
YoY Change 9.1% 8.66% 6.55%
Cost Of Revenue $590.0M $556.0M $2.221B
YoY Change 10.07% 11.65% 10.83%
Gross Profit $2.117B $1.941B $7.706B
YoY Change 14.06% 12.91% 5.65%
Gross Profit Margin 81.02% 80.57% 80.55%
Selling, General & Admin $1.048B $881.0M $3.908B
YoY Change -11.11% 6.92% 8.86%
% of Gross Profit 49.5% 45.39% 50.71%
Research & Development $317.0M $316.0M $1.224B
YoY Change 8.56% 9.72% 9.87%
% of Gross Profit 14.97% 16.28% 15.88%
Depreciation & Amortization $172.0M $173.0M $612.0M
YoY Change -2.27% 0.58% 1.16%
% of Gross Profit 8.12% 8.91% 7.94%
Operating Expenses $1.454B $1.367B $5.442B
YoY Change -5.58% 16.14% 9.52%
Operating Profit $663.0M $574.0M $2.264B
YoY Change 109.81% 5.9% -2.62%
Interest Expense -$102.0M $120.0M $292.0M
YoY Change -107.47% -1433.33% 29.78%
% of Operating Profit -15.38% 20.91% 12.9%
Other Income/Expense, Net $11.00M
YoY Change -86.75%
Pretax Income $561.0M $694.0M $2.275B
YoY Change -72.01% 30.21% -37.69%
Income Tax -$445.0M $174.0M $3.288B
% Of Pretax Income -79.32% 25.07% 144.53%
Net Earnings -$2.601B $520.0M -$1.017B
YoY Change -143.82% 25.91% -114.0%
Net Earnings / Revenue -99.54% 21.59% -10.63%
Basic Earnings Per Share -$2.51 $0.49 -$0.95
Diluted Earnings Per Share -$2.51 $0.48 -$0.95
COMMON SHARES
Basic Shares Outstanding 1.035B shares 1.062B shares 1.064B shares
Diluted Shares Outstanding 1.035B shares 1.078B shares 1.064B shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.843B $6.008B $5.843B
YoY Change -18.05% -25.1% -18.05%
Cash & Equivalents $2.120B $1.760B $2.120B
Short-Term Investments $3.723B $4.248B $3.723B
Other Short-Term Assets $1.185B $1.202B $543.0M
YoY Change 4.5% 8.09% -3.55%
Inventory
Prepaid Expenses
Receivables $696.0M $626.0M $696.0M
Other Receivables $0.00 $0.00 $662.0M
Total Short-Term Assets $7.744B $7.858B $7.744B
YoY Change -12.74% -19.68% -12.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.597B $1.546B $1.597B
YoY Change 5.34% 1.31% 5.34%
Goodwill $4.773B $4.669B
YoY Change 6.04% -1.23%
Intangibles
YoY Change
Long-Term Investments $885.0M $6.302B $6.331B
YoY Change -77.7% 60.72% 59.51%
Other Assets $273.0M $276.0M $5.472B
YoY Change -1.09% -35.51% 12.04%
Total Long-Term Assets $18.24B $18.09B $18.24B
YoY Change 21.84% 68.72% 21.84%
TOTAL ASSETS
Total Short-Term Assets $7.744B $7.858B $7.744B
Total Long-Term Assets $18.24B $18.09B $18.24B
Total Assets $25.99B $25.94B $25.99B
YoY Change 8.97% 26.54% 8.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $330.0M $260.0M $330.0M
YoY Change 16.61% -6.47% 16.61%
Accrued Expenses $2.105B $1.901B $1.476B
YoY Change 59.35% 7.4% 11.73%
Deferred Revenue $137.0M
YoY Change
Short-Term Debt $781.0M $781.0M $31.00M
YoY Change -46.18% -46.1% 3000.0%
Long-Term Debt Due $750.0M $750.0M $750.0M
YoY Change -48.28% -48.28% -48.28%
Total Short-Term Liabilities $3.559B $3.190B $3.559B
YoY Change -7.49% -15.23% -7.49%
LONG-TERM LIABILITIES
Long-Term Debt $9.234B $9.234B $9.234B
YoY Change 22.97% 21.79% 22.97%
Other Long-Term Liabilities $1.720B $64.00M $1.720B
YoY Change 244.69% -8.57% 2587.5%
Total Long-Term Liabilities $10.95B $9.298B $10.95B
YoY Change 36.79% 21.51% 44.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.559B $3.190B $3.559B
Total Long-Term Liabilities $10.95B $9.298B $10.95B
Total Liabilities $17.94B $14.66B $17.94B
YoY Change 34.78% 7.14% 34.78%
SHAREHOLDERS EQUITY
Retained Earnings $13.93B $16.54B
YoY Change -6.89% 83.09%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.89B $20.97B
YoY Change 13.99% 15.19%
Treasury Stock Shares 632.0M shares 607.0M shares
Shareholders Equity $8.049B $11.28B $8.049B
YoY Change
Total Liabilities & Shareholders Equity $25.99B $25.94B $25.99B
YoY Change 8.97% 26.54% 8.97%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017
OPERATING ACTIVITIES
Net Income -$2.601B $520.0M -$1.017B
YoY Change -143.82% 25.91% -114.0%
Depreciation, Depletion And Amortization $172.0M $173.0M $612.0M
YoY Change -2.27% 0.58% 1.16%
Cash From Operating Activities $988.0M $877.0M $3.146B
YoY Change 59.35% 9.35% 11.32%
INVESTING ACTIVITIES
Capital Expenditures -$192.0M -$157.0M $666.0M
YoY Change 41.18% -15.14% 6.39%
Acquisitions $34.00M
YoY Change -83.96%
Other Investing Activities $406.0M $771.0M $2.000M
YoY Change -41.67% -288.05% -93.33%
Cash From Investing Activities $214.0M $614.0M -$1.295B
YoY Change -61.79% -203.19% -35.8%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $2.626B
YoY Change -7.57%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -896.0M -2.402B -$1.784B
YoY Change -3.24% 377.53% 139.78%
NET CHANGE
Cash From Operating Activities 988.0M 877.0M $3.146B
Cash From Investing Activities 214.0M 614.0M -$1.295B
Cash From Financing Activities -896.0M -2.402B -$1.784B
Net Change In Cash 306.0M -911.0M $305.0M
YoY Change 20.47% 207.77% -1320.0%
FREE CASH FLOW
Cash From Operating Activities $988.0M $877.0M $3.146B
Capital Expenditures -$192.0M -$157.0M $666.0M
Free Cash Flow $1.180B $1.034B $2.480B
YoY Change 56.08% 4.76% 12.73%

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CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2017 us-gaap Comprehensive Income Net Of Tax
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CY2016 us-gaap Comprehensive Income Net Of Tax
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CY2015 us-gaap Comprehensive Income Net Of Tax
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CY2015 us-gaap Net Income Loss
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CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2017 ebay Provision For Transaction Losses
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CY2017 us-gaap Depreciation And Amortization
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CY2015 us-gaap Depreciation And Amortization
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CY2017 us-gaap Share Based Compensation
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CY2016 us-gaap Share Based Compensation
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416000000 USD
CY2015 us-gaap Share Based Compensation
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CY2017 us-gaap Gain Loss On Sale Of Business
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167000000 USD
CY2016 us-gaap Gain Loss On Sale Of Business
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0 USD
CY2015 us-gaap Gain Loss On Sale Of Business
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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CY2016 us-gaap Deferred Income Tax Expense Benefit
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CY2015 us-gaap Deferred Income Tax Expense Benefit
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CY2017 us-gaap Gain Loss On Sale Of Investments
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CY2016 us-gaap Gain Loss On Sale Of Investments
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1236000000 USD
CY2015 us-gaap Gain Loss On Sale Of Investments
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195000000 USD
CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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15000000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2017 us-gaap Increase Decrease In Accounts Receivable
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195000000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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CY2015 us-gaap Increase Decrease In Accounts Receivable
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CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2016 us-gaap Increase Decrease In Other Operating Assets
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CY2015 us-gaap Increase Decrease In Other Operating Assets
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CY2017 us-gaap Increase Decrease In Accounts Payable
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19000000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
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CY2015 us-gaap Increase Decrease In Accounts Payable
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CY2017 us-gaap Increase Decrease In Accrued Liabilities
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CY2016 us-gaap Increase Decrease In Accrued Liabilities
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CY2015 us-gaap Increase Decrease In Accrued Liabilities
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CY2015 us-gaap Increase Decrease In Deferred Revenue
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CY2017 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2016 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2016 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2015 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2017 us-gaap Payments To Acquire Equity Method Investments
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CY2016 us-gaap Payments To Acquire Equity Method Investments
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CY2015 us-gaap Payments To Acquire Equity Method Investments
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CY2017 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2017 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2016 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2015 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017 us-gaap Proceeds From Issuance Of Common Stock
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120000000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
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CY2015 us-gaap Proceeds From Issuance Of Common Stock
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CY2017 us-gaap Payments For Repurchase Of Common Stock
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CY2016 us-gaap Payments For Repurchase Of Common Stock
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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2216000000 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2017 us-gaap Repayments Of Senior Debt
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CY2016 us-gaap Repayments Of Senior Debt
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CY2015 us-gaap Repayments Of Senior Debt
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850000000 USD
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016 us-gaap Proceeds From Payments For Other Financing Activities
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CY2015 us-gaap Proceeds From Payments For Other Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2016 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2015 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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2120000000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2015 us-gaap Interest Paid
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CY2017 us-gaap Income Taxes Paid
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CY2016 us-gaap Income Taxes Paid
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CY2015 us-gaap Income Taxes Paid
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CY2017 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2016 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2015 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2017 us-gaap Use Of Estimates
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Use of estimates <div style="line-height:120%;text-align:justify;padding-left:16px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;"><br/></span></div>The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) 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.
CY2017 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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140000000 USD
CY2016 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2017 us-gaap Capitalized Computer Software Amortization1
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CY2016 us-gaap Capitalized Computer Software Amortization1
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CY2015 us-gaap Capitalized Computer Software Amortization1
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CY2017 us-gaap Advertising Expense
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CY2016 us-gaap Advertising Expense
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CY2015 us-gaap Advertising Expense
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CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2017 us-gaap Sales Revenue Net
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CY2016 us-gaap Sales Revenue Net
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CY2017 us-gaap Cost Of Revenue
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CY2016 us-gaap Cost Of Revenue
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CY2017 us-gaap Selling And Marketing Expense
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CY2016 us-gaap Selling And Marketing Expense
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CY2017 us-gaap Income Loss From Continuing Operations
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CY2016 us-gaap Income Loss From Continuing Operations
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CY2017 us-gaap Net Income Loss
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CY2016 us-gaap Net Income Loss
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CY2017 us-gaap Earnings Per Share Basic
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-0.95
CY2016 us-gaap Earnings Per Share Basic
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6.41
CY2017 us-gaap Earnings Per Share Diluted
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-0.95
CY2016 us-gaap Earnings Per Share Diluted
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6.35
CY2017 us-gaap Income Loss From Continuing Operations
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CY2016 us-gaap Income Loss From Continuing Operations
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CY2015 us-gaap Income Loss From Continuing Operations
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1947000000 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2017 us-gaap Net Income Loss
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CY2016 us-gaap Net Income Loss
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CY2015 us-gaap Net Income Loss
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1725000000 USD
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1064000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1133000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1208000000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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11000000 shares
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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12000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1064000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1144000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1220000000 shares
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
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-0.95
CY2016 us-gaap Income Loss From Continuing Operations Per Basic Share
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6.43
CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.61
CY2017 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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0
CY2016 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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-0.02
CY2015 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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-0.18
CY2017 us-gaap Earnings Per Share Basic
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CY2016 us-gaap Earnings Per Share Basic
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6.41
CY2015 us-gaap Earnings Per Share Basic
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1.43
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
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-0.95
CY2016 us-gaap Income Loss From Continuing Operations Per Diluted Share
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6.37
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.60
CY2017 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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0 USD
CY2017 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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0
CY2016 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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-0.02
CY2015 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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-0.18
CY2017 us-gaap Earnings Per Share Diluted
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-0.95
CY2016 us-gaap Earnings Per Share Diluted
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6.35
CY2015 us-gaap Earnings Per Share Diluted
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1.42
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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46000000 shares
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8000000 shares
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2000000 shares
CY2016 us-gaap Number Of Businesses Acquired
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6 acquisition
CY2016 us-gaap Business Combination Consideration Transferred1
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212000000 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-19000000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-222000000 USD
CY2017 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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0 USD
CY2016 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2015 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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1156000000 USD
CY2017 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2016 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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56000000 USD
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360000000 USD
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544000000 USD
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1185000000 USD
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430000000 USD
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184000000 USD
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23000000 USD
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1550000000 USD
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750000000 USD
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1750000000 USD
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62000000 USD
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36000000 USD
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25000000 USD
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1900000000 USD
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2100000000 USD
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3000000000 USD
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68000000 USD
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396000000 USD
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1858000000 USD
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2122000000 USD
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2010000000 USD
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2276000000 USD
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3651000000 USD
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2406000000 USD
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491000000 USD
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843000000 USD
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330000000 USD
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105000000 USD
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150000000 USD
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23000000 USD
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3142000000 USD
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0 USD
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3288000000 USD
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86000000 USD
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78000000 USD
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129000000 USD
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222000000 USD
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