2017 Q2 Form 10-Q Financial Statement

#000159071417000115 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $941.1M $921.6M
YoY Change 2.12% 36.51%
Cost Of Revenue $541.2M $541.0M
YoY Change 0.04% 33.09%
Gross Profit $196.6M $380.6M
YoY Change -48.34% 41.7%
Gross Profit Margin 20.89% 41.3%
Selling, General & Admin $284.3M $265.2M
YoY Change 7.2% 28.61%
% of Gross Profit 144.61% 69.68%
Research & Development $25.10M $20.50M
YoY Change 22.44% 11.41%
% of Gross Profit 12.77% 5.39%
Depreciation & Amortization $19.70M $18.80M
YoY Change 4.79% -71.56%
% of Gross Profit 10.02% 4.94%
Operating Expenses $309.4M $285.7M
YoY Change 8.3% 27.2%
Operating Profit $90.50M $94.90M
YoY Change -4.64% 115.68%
Interest Expense -$105.9M -$77.80M
YoY Change 36.12% -248.19%
% of Operating Profit -117.02% -81.98%
Other Income/Expense, Net -$139.4M -$76.10M
YoY Change 83.18% 42.78%
Pretax Income -$48.90M $18.80M
YoY Change -360.11% -302.15%
Income Tax $11.10M $26.90M
% Of Pretax Income 143.09%
Net Earnings -$73.90M -$8.800M
YoY Change 739.77% -27.87%
Net Earnings / Revenue -7.85% -0.95%
Basic Earnings Per Share -$0.21 -$0.04
Diluted Earnings Per Share -$0.21 -$0.04
COMMON SHARES
Basic Shares Outstanding 286.1M shares 229.6M shares
Diluted Shares Outstanding 286.1M shares 229.6M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $427.0M $342.0M
YoY Change 24.85% -49.11%
Cash & Equivalents $427.1M $341.7M
Short-Term Investments
Other Short-Term Assets $143.0M $172.0M
YoY Change -16.86% -11.79%
Inventory $536.6M $572.7M
Prepaid Expenses
Receivables $1.168B $1.182B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.342B $2.268B
YoY Change 3.27% -4.98%
LONG-TERM ASSETS
Property, Plant & Equipment $455.8M $480.3M
YoY Change -5.1% 71.17%
Goodwill $4.275B $4.370B
YoY Change -2.18% 45.05%
Intangibles $3.185B $3.454B
YoY Change -7.8% 24.37%
Long-Term Investments
YoY Change
Other Assets $128.8M $99.30M
YoY Change 29.71% 12.33%
Total Long-Term Assets $8.044B $8.404B
YoY Change -4.28% 36.44%
TOTAL ASSETS
Total Short-Term Assets $2.342B $2.268B
Total Long-Term Assets $8.044B $8.404B
Total Assets $10.39B $10.67B
YoY Change -2.68% 24.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $432.6M $393.9M
YoY Change 9.82% 1.86%
Accrued Expenses $511.0M $472.0M
YoY Change 8.26% 30.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $188.8M $162.0M
YoY Change 16.54% 864.29%
Total Short-Term Liabilities $1.205B $1.136B
YoY Change 6.07% 32.4%
LONG-TERM LIABILITIES
Long-Term Debt $5.271B $5.187B
YoY Change 1.62% 52.49%
Other Long-Term Liabilities $140.8M $250.9M
YoY Change -43.88% 141.02%
Total Long-Term Liabilities $140.8M $250.9M
YoY Change -43.88% -92.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.205B $1.136B
Total Long-Term Liabilities $140.8M $250.9M
Total Liabilities $7.434B $7.458B
YoY Change -0.32% 44.76%
SHAREHOLDERS EQUITY
Retained Earnings -$659.0M -$676.3M
YoY Change -2.56% 157.15%
Common Stock $2.800M $2.300M
YoY Change 21.74% 9.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $100.0K
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $2.823B $2.377B
YoY Change
Total Liabilities & Shareholders Equity $10.39B $10.67B
YoY Change -2.68% 24.87%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$73.90M -$8.800M
YoY Change 739.77% -27.87%
Depreciation, Depletion And Amortization $19.70M $18.80M
YoY Change 4.79% -71.56%
Cash From Operating Activities $110.1M $97.10M
YoY Change 13.39% -0.41%
INVESTING ACTIVITIES
Capital Expenditures -$13.80M -$11.00M
YoY Change 25.45% 29.41%
Acquisitions
YoY Change
Other Investing Activities -$6.200M $700.0K
YoY Change -985.71% -177.78%
Cash From Investing Activities -$20.00M -$10.30M
YoY Change 94.17% 9.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.00M -73.20M
YoY Change -48.09% -125.68%
NET CHANGE
Cash From Operating Activities 110.1M 97.10M
Cash From Investing Activities -20.00M -10.30M
Cash From Financing Activities -38.00M -73.20M
Net Change In Cash 52.10M 13.60M
YoY Change 283.09% -96.35%
FREE CASH FLOW
Cash From Operating Activities $110.1M $97.10M
Capital Expenditures -$13.80M -$11.00M
Free Cash Flow $123.9M $108.1M
YoY Change 14.62% 1.98%

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256000000 USD
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327000000 USD
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679800000 USD
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25000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
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us-gaap Foreign Currency Transaction Loss Before Tax
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33400000 USD
us-gaap Foreign Currency Transaction Loss Before Tax
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70200000 USD
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2800000 USD
us-gaap Gain Loss Related To Litigation Settlement
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2800000 USD
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10600000 USD
us-gaap Gain Loss Related To Litigation Settlement
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10600000 USD
CY2016Q4 us-gaap Goodwill
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46600000 USD
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46600000 USD
CY2016Q2 us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Gross Profit
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18800000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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45300000 USD
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11100000 USD
us-gaap Income Tax Expense Benefit
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29800000 USD
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41100000 USD
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91000000 USD
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94800000 USD
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41300000 USD
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86500000 USD
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16900000 USD
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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22200000 USD
CY2016Q4 us-gaap Indefinite Lived Trade Names
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382000000 USD
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us-gaap Interest Income Expense Net
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21000000 USD
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135900000 USD
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159200000 USD
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37100000 USD
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40700000 USD
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10054100000 USD
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1204900000 USD
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5239000000 USD
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5459900000 USD
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188800000 USD
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3700000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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0 USD
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6900000 USD
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300000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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1200000 USD
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47500000 USD
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us-gaap Net Cash Provided By Used In Investing Activities
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1200000 USD
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1100000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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1900000 USD
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments 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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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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0 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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0 USD
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0 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Noncash Income Expense
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22600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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28700000 USD
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CY2017Q2 us-gaap Preferred Stock Value
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67500000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
1927600000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2300000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8600000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
104100000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
69900000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
-8100000 USD
us-gaap Profit Loss
ProfitLoss
-142400000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-60000000 USD
us-gaap Profit Loss
ProfitLoss
-83600000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
580900000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
606400000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
460500000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46700000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20500000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
40400000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
455800000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
17400000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
1946700000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-573500000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-659000000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
921600000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1745400000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
941100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1802900000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
265200000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
549200000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
284400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
541900000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
73884 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
256202 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
565198 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
747516 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
400000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
600000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2736100000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
2822700000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2273300000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2567900000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2889800000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2952300000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
100000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
229600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
229500000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
286100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
285300000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
229600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
229500000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
286100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
285300000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year&#8217;s presentation.</font></div></div>

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