$EMN
EASTMAN CHEMICAL CO

2017 Q2 Form 10-Q Financial Statement

#000091538917000044 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2 2016 Q1
Revenue $2.419B $2.297B $2.236B
YoY Change 5.31% -9.32% -8.47%
Cost Of Revenue $1.789B $1.692B $1.602B
YoY Change 5.73% -6.67% -10.35%
Gross Profit $630.0M $605.0M $634.0M
YoY Change 4.13% -15.97% -3.35%
Gross Profit Margin 26.04% 26.34% 28.35%
Selling, General & Admin $181.0M $174.0M $183.0M
YoY Change 4.02% -10.31% 1.67%
% of Gross Profit 28.73% 28.76% 28.86%
Research & Development $58.00M $55.00M $54.00M
YoY Change 5.45% -3.51% -3.57%
% of Gross Profit 9.21% 9.09% 8.52%
Depreciation & Amortization $147.0M $144.0M $147.0M
YoY Change 2.08% 1.41% 1.38%
% of Gross Profit 23.33% 23.8% 23.19%
Operating Expenses $239.0M $229.0M $237.0M
YoY Change 4.37% -8.76% 0.42%
Operating Profit $420.0M $376.0M $399.0M
YoY Change 11.7% -19.83% 28.3%
Interest Expense -$61.00M -$62.00M -$73.00M
YoY Change -1.61% 5.08% 35.19%
% of Operating Profit -14.52% -16.49% -18.3%
Other Income/Expense, Net -$1.000M $20.00M -$12.00M
YoY Change -105.0% -209.09%
Pretax Income $359.0M $324.0M $323.0M
YoY Change 10.8% -19.6% 26.17%
Income Tax $65.00M $67.00M $72.00M
% Of Pretax Income 18.11% 20.68% 22.29%
Net Earnings $292.0M $255.0M $251.0M
YoY Change 14.51% -14.14% 46.78%
Net Earnings / Revenue 12.07% 11.1% 11.23%
Basic Earnings Per Share $2.01 $1.73 $1.70
Diluted Earnings Per Share $2.00 $1.71 $1.69
COMMON SHARES
Basic Shares Outstanding 145.3M shares 147.8M shares 147.8M shares
Diluted Shares Outstanding 146.4M shares 148.9M shares 148.8M shares

Balance Sheet

Concept 2017 Q2 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $222.0M $240.0M $202.0M
YoY Change -7.5% -10.45% 3.06%
Cash & Equivalents $222.0M $240.0M $202.0M
Short-Term Investments
Other Short-Term Assets $63.00M $68.00M $62.00M
YoY Change -7.35% -75.0% -79.8%
Inventory $1.540B $1.445B $1.493B
Prepaid Expenses
Receivables $1.018B $951.0M $951.0M
Other Receivables $419.0M $226.0M $155.0M
Total Short-Term Assets $3.262B $2.930B $2.863B
YoY Change 11.33% -7.48% -9.57%
LONG-TERM ASSETS
Property, Plant & Equipment $5.403B $5.162B $5.185B
YoY Change 4.67% 3.01% 4.6%
Goodwill $4.507B $4.520B $4.527B
YoY Change -0.29% 1.03% 2.44%
Intangibles $2.433B $2.585B $2.637B
YoY Change -5.88% -6.91% -6.52%
Long-Term Investments
YoY Change
Other Assets $359.0M $385.0M $404.0M
YoY Change -6.75% -15.75% -14.23%
Total Long-Term Assets $12.70B $12.65B $12.75B
YoY Change 0.4% -0.53% 0.67%
TOTAL ASSETS
Total Short-Term Assets $3.262B $2.930B $2.863B
Total Long-Term Assets $12.70B $12.65B $12.75B
Total Assets $15.96B $15.58B $15.62B
YoY Change 2.45% -1.91% -1.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $675.0M $610.0M $633.0M
YoY Change 10.66% -14.33% -10.21%
Accrued Expenses $125.0M $172.0M $125.0M
YoY Change -27.33% 21.13% 35.87%
Deferred Revenue
YoY Change
Short-Term Debt $212.0M $722.0M $513.0M
YoY Change -70.64% 187.65% 46.15%
Long-Term Debt Due $212.0M $722.0M $513.0M
YoY Change -70.64% 187.65% 46.15%
Total Short-Term Liabilities $1.596B $2.189B $1.847B
YoY Change -27.09% 20.21% 4.71%
LONG-TERM LIABILITIES
Long-Term Debt $6.669B $6.082B $6.565B
YoY Change 9.65% -14.0% -9.98%
Other Long-Term Liabilities $519.0M $568.0M $686.0M
YoY Change -8.63% -18.39% -7.8%
Total Long-Term Liabilities $7.188B $6.650B $7.251B
YoY Change 8.09% -14.39% -9.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.596B $2.189B $1.847B
Total Long-Term Liabilities $7.188B $6.650B $7.251B
Total Liabilities $11.07B $11.13B $11.33B
YoY Change -0.49% -7.57% -7.97%
SHAREHOLDERS EQUITY
Retained Earnings $6.142B $5.517B $5.330B
YoY Change 11.33% 12.75% 14.48%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.000B $2.725B $2.700B
YoY Change 10.09% 4.49% 3.73%
Treasury Stock Shares 73.45M shares 69.77M shares 69.43M shares
Shareholders Equity $4.812B $4.375B $4.204B
YoY Change
Total Liabilities & Shareholders Equity $15.96B $15.58B $15.62B
YoY Change 2.45% -1.91% -1.38%

Cashflow Statement

Concept 2017 Q2 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $292.0M $255.0M $251.0M
YoY Change 14.51% -14.14% 46.78%
Depreciation, Depletion And Amortization $147.0M $144.0M $147.0M
YoY Change 2.08% 1.41% 1.38%
Cash From Operating Activities $431.0M $494.0M $51.00M
YoY Change -12.75% -16.41% -43.96%
INVESTING ACTIVITIES
Capital Expenditures -$146.0M -$124.0M $110.0M
YoY Change 17.74% -12.06% -12.0%
Acquisitions $21.00M
YoY Change
Other Investing Activities -$1.000M $38.00M $1.000M
YoY Change -102.63% -2000.0% 0.0%
Cash From Investing Activities -$147.0M -$86.00M -$126.0M
YoY Change 70.93% -39.86% 3.28%
FINANCING ACTIVITIES
Cash Dividend Paid $68.00M
YoY Change 15.25%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.00M
YoY Change
Cash From Financing Activities -260.0M -369.0M -$16.00M
YoY Change -29.54% -1.86% -194.12%
NET CHANGE
Cash From Operating Activities 431.0M 494.0M $51.00M
Cash From Investing Activities -147.0M -86.00M -$126.0M
Cash From Financing Activities -260.0M -369.0M -$16.00M
Net Change In Cash 24.00M 39.00M -$91.00M
YoY Change -38.46% -45.83% 550.0%
FREE CASH FLOW
Cash From Operating Activities $431.0M $494.0M $51.00M
Capital Expenditures -$146.0M -$124.0M $110.0M
Free Cash Flow $577.0M $618.0M -$59.00M
YoY Change -6.63% -15.57% 73.53%

Facts In Submission

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CY2017Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
292000000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
570000000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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324000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
647000000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
359000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
700000000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.73
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.43
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.01
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.91
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.71
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.40
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.00
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.89
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
139000000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
65000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
127000000 USD
CY2016Q2 us-gaap Income Tax Reconciliation Deductions Other
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16000000 USD
us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
16000000 USD
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
22000000 USD
us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
9000000 USD
CY2017Q2 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
22000000 USD
us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
22000000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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-76000000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Receivable
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151000000 USD
us-gaap Increase Decrease In Accounts Receivable
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166000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-41000000 USD
us-gaap Increase Decrease In Inventories
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108000000 USD
us-gaap Increase Decrease In Other Current Assets
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13000000 USD
us-gaap Increase Decrease In Other Current Assets
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3000000 USD
us-gaap Increase Decrease In Other Current Liabilities
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40000000 USD
us-gaap Increase Decrease In Other Current Liabilities
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-30000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Other Noncurrent Assets
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CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
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2469000000 USD
CY2017Q2 us-gaap Intangible Assets Net Excluding Goodwill
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2433000000 USD
CY2016Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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CY2017Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
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CY2016Q4 us-gaap Inventory Finished Goods
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CY2017Q2 us-gaap Inventory Finished Goods
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1103000000 USD
CY2016Q4 us-gaap Inventory Gross
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1668000000 USD
CY2017Q2 us-gaap Inventory Gross
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1801000000 USD
CY2016Q4 us-gaap Inventory Lifo Reserve
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264000000 USD
CY2017Q2 us-gaap Inventory Lifo Reserve
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261000000 USD
CY2016Q4 us-gaap Inventory Net
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1404000000 USD
CY2017Q2 us-gaap Inventory Net
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1540000000 USD
CY2016Q4 us-gaap Inventory Raw Materials And Supplies
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473000000 USD
CY2017Q2 us-gaap Inventory Raw Materials And Supplies
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478000000 USD
CY2016Q4 us-gaap Inventory Work In Process
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198000000 USD
CY2017Q2 us-gaap Inventory Work In Process
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220000000 USD
us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
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P40Y
CY2016Q4 us-gaap Liabilities
Liabilities
10849000000 USD
CY2017Q2 us-gaap Liabilities
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11074000000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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15457000000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
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15964000000 USD
CY2016Q4 us-gaap Liabilities Current
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1795000000 USD
CY2017Q2 us-gaap Liabilities Current
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1596000000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
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CY2017Q2 us-gaap Long Term Debt Noncurrent
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CY2016Q4 us-gaap Minority Interest
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CY2017Q2 us-gaap Minority Interest
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78000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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545000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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483000000 USD
CY2016Q2 us-gaap Net Income Loss
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255000000 USD
us-gaap Net Income Loss
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506000000 USD
CY2017Q2 us-gaap Net Income Loss
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292000000 USD
us-gaap Net Income Loss
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570000000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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2000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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2000000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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2000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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3000000 USD
us-gaap Number Of Operating Segments
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4 Segment
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
376000000 USD
us-gaap Operating Income Loss
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775000000 USD
CY2017Q2 us-gaap Operating Income Loss
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420000000 USD
us-gaap Operating Income Loss
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CY2017Q2 us-gaap Other Assets Current
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CY2017Q2 us-gaap Other Assets Noncurrent
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359000000 USD
CY2016 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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0 USD
CY2016Q2 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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-11000000 USD
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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-22000000 USD
CY2017Q2 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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-11000000 USD
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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-22000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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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 Net Of Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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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 Net Of Tax
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34000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
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106000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Before Tax
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10000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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172000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
36000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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36000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
43000000 USD
CY2016Q2 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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36000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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36000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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43000000 USD
CY2016Q2 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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79000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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109000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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20000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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13000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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62000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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32000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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-28000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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38000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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20000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-18000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2016Q4 us-gaap Other Liabilities Noncurrent
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519000000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
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519000000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
20000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
11000000 USD
us-gaap Other Operating Activities Cash Flow Statement
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CY2016Q4 us-gaap Other Receivables
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399000000 USD
CY2017Q2 us-gaap Other Receivables
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419000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
45000000 USD
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
175000000 USD
CY2016 us-gaap Payments For Restructuring
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48000000 USD
us-gaap Payments For Restructuring
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24000000 USD
us-gaap Payments Of Dividends
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136000000 USD
us-gaap Payments Of Dividends
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149000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
4000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
1000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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22000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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234000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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279000000 USD
CY2016Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
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110000000 USD
CY2017Q2 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
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84000000 USD
CY2016Q4 us-gaap Percentage Of Lifo Inventory
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0.60
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0.60
CY2016Q4 us-gaap Postemployment Benefits Liability Noncurrent
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1004000000 USD
CY2017Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
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us-gaap Proceeds From Issuance Of Long Term Debt
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807000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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500000000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Issuance Or Sale Of Equity
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12000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Sales Of Assets Investing Activities
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41000000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
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CY2016Q2 us-gaap Profit Loss
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257000000 USD
us-gaap Profit Loss
ProfitLoss
508000000 USD
CY2017Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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573000000 USD
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11699000000 USD
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5403000000 USD
us-gaap Repayments Of Long Term Debt
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807000000 USD
us-gaap Repayments Of Long Term Debt
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250000000 USD
CY2016Q2 us-gaap Research And Development Expense
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55000000 USD
us-gaap Research And Development Expense
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109000000 USD
CY2017Q2 us-gaap Research And Development Expense
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55000000 USD
us-gaap Research And Development Expense
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109000000 USD
CY2015Q4 us-gaap Restructuring Reserve
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CY2016Q4 us-gaap Restructuring Reserve
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CY2017Q2 us-gaap Restructuring Reserve
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32000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
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1000000 USD
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45000000 USD
us-gaap Restructuring Reserve Period Increase Decrease
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CY2016 us-gaap Restructuring Reserve Settled Without Cash2
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8000000 USD
CY2016Q2 us-gaap Restructuring Settlement And Impairment Provisions
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0 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
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CY2017Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0 USD
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5146000000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
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5330000000 USD
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5517000000 USD
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5721000000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
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5925000000 USD
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6142000000 USD
CY2016Q2 us-gaap Revenues
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2297000000 USD
us-gaap Revenues
Revenues
4533000000 USD
CY2017Q2 us-gaap Revenues
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2419000000 USD
us-gaap Revenues
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4722000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
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174000000 USD
us-gaap Selling General And Administrative Expense
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357000000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
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176000000 USD
us-gaap Selling General And Administrative Expense
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350000000 USD
us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Expected Credit Losses
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0.10
CY2016Q4 us-gaap Short Term Borrowings
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CY2017Q2 us-gaap Short Term Borrowings
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212000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Stock Issued During Period Value Stock Options Exercised
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17000000 USD
CY2016Q4 us-gaap Stockholders Equity
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CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q4 us-gaap Stockholders Equity Before Treasury Stock
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CY2017Q2 us-gaap Stockholders Equity Before Treasury Stock
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4608000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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4890000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-6000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
106000000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
90000000 USD
CY2017Q2 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
171000000 USD
CY2017Q2 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
150000000 EUR
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
71269474 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
73446150 shares
CY2016Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
344790 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
632071 shares
CY2017Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1232977 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2176676 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2825000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3000000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
175000000 USD
us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
2900000000 USD
us-gaap Unrecorded Unconditional Purchase Obligation Term
UnrecordedUnconditionalPurchaseObligationTerm
P30Y
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148900000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146800000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
147800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
147800000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145700000 shares
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECENTLY ISSUED ACCOUNTING STANDARDS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board ("FASB") and International Accounting Standards Board jointly issued new principles-based accounting guidance for revenue recognition that provides a five-step process to the principles-based guidance. In August 2015, the FASB issued new guidance to delay the effective date of the new revenue standard by one year. The deferral results in the new revenue standard being effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early application is permitted under the original effective date of fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. In April 2016, the FASB issued clarifying guidance to the 2014 revenue standard in regard to the identification of performance obligations and licensing. In May 2016, the FASB issued narrow-scope improvements and practical expedients to the new revenue standard that include clarification of the collectability criterion, specification for the measurement of noncash considerations, clarifies a completed contract for transition purposes and clarification in regards to the retrospective application, as well as, policy elections, and other practical expedients. In December 2016, the FASB issued additional corrections and improvements that affect various narrow aspects of the guidance. The effective date for all amendments is the same as that of the revenue standard stated above. Management does not expect that changes in its accounting required by this new guidance will materially impact the Company's financial statements and related disclosures. Management plans to adopt the new guidance January 1, 2018, and anticipates adopting retrospectively to each prior reporting period presented with the election of applicable practical expedients. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued guidance on lease accounting. The new guidance establishes two types of leases for lessees: finance and operating. Both finance and operating leases will have associated right-of-use assets and liabilities initially measured at the present value of the lease payments. This guidance is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period and early adoption is permitted. The new guidance is to be applied under a modified retrospective approach wherein practical expedients have been allowed that will not require reassessment of current leases at the effective date. Management is currently evaluating the impact on the Company's financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued guidance relating to credit losses. The amendments require a financial asset (including trade receivables) to be presented at the net amount expected to be collected through the use of allowances for credit losses valuation account. The income statement will reflect the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. This guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period and early adoption is permitted, including adoption in an interim period, beginning after December 15, 2018. The new guidance application is mixed among the various elements that include modified retrospective and prospective transition methods. Management is currently evaluating the impact on the Company's financial statements and related disclosures.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In October 2016, the FASB issued guidance as a part of its simplification initiative in regards to income tax of intra-entity asset transfers. The release requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments eliminate the exception for an intra-entity transfer of an asset other than inventory that prohibited recognizing current and deferred income tax consequences for an intra-entity asset transfer until the asset or assets have been sold to an outside party. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods and early adoption is permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. The new guidance is to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Management is currently evaluating the impact on the Company's financial statements and related disclosures.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued guidance clarifying the definition of a business that provides a two-step analysis in the determination of whether an acquisition or derecognition is a business or an asset. The update removes the evaluation of whether a market participant could replace any missing elements and provides a framework to assist entities in evaluating whether both an input and a substantive process are present. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods and early adoption is permitted for transactions that meet specified criteria. This guidance is to be applied on a prospective basis for transactions that occur after the effective date.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued guidance as a part of its simplification initiative that bases the impairment of goodwill on any difference for which the carrying value is greater than the fair value of the reporting unit. This guidance is effective for annual reporting periods, or interim period testing performed, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment testing performed after January 1, 2017. This guidance is to be applied on a prospective basis for goodwill testing that occur after the effective date.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2017, the FASB issued guidance that clarifies the scope of nonfinancial asset derecognition and the accounting for partial sales of nonfinancial assets. This guidance is effective at the same time as the amendments in the revenue recognition standard stated above, for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and must be applied in conjunction with that standard. Adoption can be applied either on a retrospective or modified retrospective approach. Management is currently evaluating the impact on the Company's financial statements and related disclosures.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2017, the FASB issued guidance to improve the presentation of net periodic pension and postretirement benefit costs that will require the reporting of the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost (interest cost, expected return on plan assets, curtailment gains or losses, amortization of prior service costs or credits, and mark-to-market gains or losses) are to be presented in the income statement separately from the service cost component and outside the subtotal of income from operations. In addition, the amendment prescribes only the service cost component to be eligible for capitalization. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods and early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. The new guidance is to be applied retrospectively for income statement effect and prospectively for balance sheet effects. Management is currently evaluating the impact on the Company's financial statements and related disclosures.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2017, the FASB issued guidance to clarify when changes to the terms or conditions of a share-based payment award would require an entity to apply modification accounting. This guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for reporting periods for which financial statements have not yet been issued. The new guidance is to be applied prospectively to an award modified on or after the adoption date.</font></div></div>

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