2016 Q2 Form 10-Q Financial Statement

#000142080016000059 Filed on May 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $765.7M $911.1M
YoY Change -25.32% -13.59%
Cost Of Revenue $596.3M $616.6M
YoY Change -14.49% -15.38%
Gross Profit $241.7M $294.4M
YoY Change -26.32% -9.58%
Gross Profit Margin 31.56% 32.32%
Selling, General & Admin $214.4M $213.2M
YoY Change -3.7% -7.92%
% of Gross Profit 88.7% 72.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.72M $36.93M
YoY Change 18.32%
% of Gross Profit 15.61% 12.54%
Operating Expenses $214.4M $213.2M
YoY Change -3.7% -7.92%
Operating Profit $48.47M $77.45M
YoY Change -49.81% -11.72%
Interest Expense $9.120M $12.04M
YoY Change -36.0% -2.26%
% of Operating Profit 18.82% 15.55%
Other Income/Expense, Net
YoY Change
Pretax Income $39.35M $65.41M
YoY Change -52.21% -13.27%
Income Tax $13.14M $9.134M
% Of Pretax Income 33.39% 13.96%
Net Earnings $22.62M $52.06M
YoY Change -57.43% 11.25%
Net Earnings / Revenue 2.95% 5.71%
Basic Earnings Per Share $0.18 $0.42
Diluted Earnings Per Share $0.18 $0.42
COMMON SHARES
Basic Shares Outstanding 123.1M shares 122.7M shares 123.9M shares
Diluted Shares Outstanding 123.2M shares 125.1M shares

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $196.0M $206.9M
Short-Term Investments
Other Short-Term Assets $253.4M $345.1M
YoY Change -21.02% 6.83%
Inventory $453.6M $455.7M
Prepaid Expenses
Receivables $881.7M $1.015B
Other Receivables
Total Short-Term Assets $1.785B $2.023B
YoY Change -11.0% -13.64%
LONG-TERM ASSETS
Property, Plant & Equipment $650.9M $679.7M
YoY Change -3.14% -9.04%
Goodwill $2.769B $2.764B
YoY Change -3.17% 15.64%
Intangibles $992.2M $981.7M
YoY Change 0.91% 20.36%
Long-Term Investments
YoY Change
Other Assets $526.6M $497.3M
YoY Change 7.59% 4.41%
Total Long-Term Assets $4.939B $4.923B
YoY Change -1.31% 11.14%
TOTAL ASSETS
Total Short-Term Assets $1.785B $2.023B
Total Long-Term Assets $4.939B $4.923B
Total Assets $6.724B $6.945B
YoY Change -4.08% 2.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $691.8M $762.8M
YoY Change -6.32% -2.16%
Accrued Expenses $400.1M $481.9M
YoY Change -12.66% -2.03%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $5.774M $10.27M
YoY Change -14.31% -75.34%
Total Short-Term Liabilities $1.098B $1.255B
YoY Change -8.78% -4.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.440B $1.428B
YoY Change 4.6% 28.96%
Other Long-Term Liabilities $946.6M $1.013B
YoY Change -5.45% 6.25%
Total Long-Term Liabilities $2.387B $2.442B
YoY Change 0.37% 18.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.098B $1.255B
Total Long-Term Liabilities $2.387B $2.442B
Total Liabilities $3.485B $3.697B
YoY Change -2.7% 9.55%
SHAREHOLDERS EQUITY
Retained Earnings $579.9M $441.6M
YoY Change 17.22% 897.94%
Common Stock $123.0K $124.0K
YoY Change -0.81% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.046B $3.044B
YoY Change
Total Liabilities & Shareholders Equity $6.724B $6.945B
YoY Change -4.08% 2.57%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $22.62M $52.06M
YoY Change -57.43% 11.25%
Depreciation, Depletion And Amortization $37.72M $36.93M
YoY Change 18.32%
Cash From Operating Activities $15.52M -$2.050M
YoY Change -96.94%
INVESTING ACTIVITIES
Capital Expenditures $15.39M $11.16M
YoY Change -11.37%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$15.39M -$11.16M
YoY Change -11.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $20.48M -$689.0K
YoY Change -100.11%
Debt Paid & Issued, Net $9.375M $15.14M
YoY Change
Cash From Financing Activities -$5.287M -$71.17M
YoY Change -128.8%
NET CHANGE
Cash From Operating Activities $15.52M -$2.050M
Cash From Investing Activities -$15.39M -$11.16M
Cash From Financing Activities -$5.287M -$71.17M
Net Change In Cash -$5.160M -$84.38M
YoY Change -150.38%
FREE CASH FLOW
Cash From Operating Activities $15.52M -$2.050M
Capital Expenditures $15.39M $11.16M
Free Cash Flow $127.0K -$13.21M
YoY Change -83.41%

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1169000 USD
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CY2015Q1 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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62000 USD
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OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
62000 USD
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OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
62000 USD
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OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
40000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
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 Tax
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-22000 USD
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0 USD
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246000 USD
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2900000 USD
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
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0 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
2110000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
3154000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
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2097000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
3092000 USD
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
2035000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
2110000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
2154000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
1360000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-675000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
2216000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
1400000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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-938000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
-697000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
22181000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-9553000 USD
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2790000 USD
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OtherLiabilitiesNoncurrent
946578000 USD
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PaymentsForRepurchaseOfCommonStock
0 USD
CY2016Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20812000 USD
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PaymentsForRestructuring
12953000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11161000 USD
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
689000 USD
CY2016Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
330000 USD
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ProceedsFromLinesOfCredit
115726000 USD
CY2016Q2 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
313796000 USD
CY2015Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2016Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1226000 USD
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
36128000 USD
CY2016Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
37703000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
56275000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
26210000 USD
CY2015Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
15876000 USD
CY2016Q2 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
16557000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
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644536000 USD
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PropertyPlantAndEquipmentNet
650863000 USD
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2216000 USD
CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1400000 USD
CY2015Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
169936000 USD
CY2016Q2 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
290452000 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15141000 USD
CY2016Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9375000 USD
CY2016Q2 us-gaap Restructuring And Related Cost Expected Cost Remaining1
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52000000 USD
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
3753000 USD
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
17668000 USD
CY2015Q4 us-gaap Restructuring Reserve
RestructuringReserve
13718000 USD
CY2016Q2 us-gaap Restructuring Reserve
RestructuringReserve
17528000 USD
CY2015Q4 us-gaap Restructuring Reserve Current
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12918000 USD
CY2016Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
16864000 USD
CY2016Q2 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
600000 USD
CY2016Q2 us-gaap Restructuring Reserve Translation Adjustment
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281000 USD
CY2016Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
17668000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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557300000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
579915000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
911070000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
876843000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
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213232000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
214387000 USD
CY2015Q1 us-gaap Share Based Compensation
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4374000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5110000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual
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51135000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46580000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
37407000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
38875000 USD
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-2566000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
881000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
5606000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
7642000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-844000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
1715000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4461000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
6514000 USD
CY2016Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5441000 USD
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
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100000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
52000000 USD
CY2016Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1000000 shares
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
20800000 USD
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
20812000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
3069975000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
3045592000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3256556000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3239200000 USD
CY2015Q1 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
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28685000 USD
CY2016Q2 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
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-10573000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
13000000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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125092635 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123242884 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123947392 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123082661 shares

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