2015 Q1 Form 8-K Financial Statement

#000127618715000102 Filed on November 24, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q3
Revenue $9.661B $13.48B $14.99B
YoY Change -26.14% 6.93% 20.03%
Cost Of Revenue $8.487B $11.76B $13.02B
YoY Change -25.83% 5.3% 17.63%
Gross Profit $1.174B $1.900B $1.972B
YoY Change -28.33% 27.6% 38.68%
Gross Profit Margin 12.15% 14.09% 13.16%
Selling, General & Admin $155.0M $170.0M $168.0M
YoY Change 18.32% 95.4% 18.31%
% of Gross Profit 13.2% 8.95% 8.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $493.0M $476.0M $425.0M
YoY Change 32.17% 35.61% 28.01%
% of Gross Profit 41.99% 25.05% 21.55%
Operating Expenses $155.0M $1.365B $168.0M
YoY Change 18.32% 43.23% 18.31%
Operating Profit $758.0M $165.0M $822.0M
YoY Change 6.76% -207.84% 55.39%
Interest Expense $371.0M -$174.0M $356.0M
YoY Change 17.78% 1.16% 19.46%
% of Operating Profit 48.94% -105.45% 43.31%
Other Income/Expense, Net $7.000M $13.00M -$15.00M
YoY Change 250.0% -106.53% -145.45%
Pretax Income $233.0M -$206.0M $526.0M
YoY Change -59.05% -71.9% 34.18%
Income Tax $12.00M $86.00M $56.00M
% Of Pretax Income 5.15% 10.65%
Net Earnings $284.0M -$294.0M $188.0M
YoY Change 69.05% -58.06% 24.5%
Net Earnings / Revenue 2.94% -2.18% 1.25%
Basic Earnings Per Share
Diluted Earnings Per Share $263.2K $104.8K $174.1K
COMMON SHARES
Basic Shares Outstanding 1.078B shares 538.8M shares 538.8M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.863B $847.0M $1.108B
YoY Change 84.46% 43.56% -5.86%
Cash & Equivalents $1.863B $839.0M $1.108B
Short-Term Investments
Other Short-Term Assets $411.0M $287.0M $307.0M
YoY Change 47.31% -8.01% -4.36%
Inventory $1.461B $1.467B $1.780B
Prepaid Expenses
Receivables $2.863B $3.378B $4.722B
Other Receivables $155.0M $61.00M $58.00M
Total Short-Term Assets $6.789B $6.139B $8.042B
YoY Change -9.67% -6.07% 16.77%
LONG-TERM ASSETS
Property, Plant & Equipment $42.34B $40.29B $38.74B
YoY Change 24.12% 31.32% 30.54%
Goodwill $7.702B $5.871B $7.867B
YoY Change 23.91% -0.39% 22.39%
Intangibles $5.553B $5.582B $5.504B
YoY Change 8.2% 146.55% 150.75%
Long-Term Investments $3.656B $3.659B $3.633B
YoY Change -4.24% -8.84% -11.11%
Other Assets $953.0M $732.0M $897.0M
YoY Change -1.85% -20.61% 47.78%
Total Long-Term Assets $60.22B $58.14B $56.64B
YoY Change 19.82% 32.76% 31.24%
TOTAL ASSETS
Total Short-Term Assets $6.789B $6.139B $8.042B
Total Long-Term Assets $60.22B $58.14B $56.64B
Total Assets $67.00B $64.28B $64.68B
YoY Change 15.99% 27.72% 29.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.865B $3.349B $4.694B
YoY Change -32.94% -12.65% 32.45%
Accrued Expenses $1.501B $1.582B $1.355B
YoY Change 51.62% 58.04% 20.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $269.0M $1.008B $1.345B
YoY Change -80.62% 58.24% 351.34%
Total Short-Term Liabilities $5.327B $6.683B $8.431B
YoY Change -34.16% 2.82% 39.42%
LONG-TERM LIABILITIES
Long-Term Debt $33.16B $29.48B $28.51B
YoY Change 33.14% 30.65% 29.52%
Other Long-Term Liabilities $1.313B $1.193B $1.060B
YoY Change 28.22% 17.08% 18.7%
Total Long-Term Liabilities $34.47B $30.67B $29.57B
YoY Change 32.94% 30.06% 29.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.327B $6.683B $8.431B
Total Long-Term Liabilities $34.47B $30.67B $29.57B
Total Liabilities $39.80B $37.35B $38.00B
YoY Change 16.98% 24.17% 31.25%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $707.0M $664.0M $709.0M
YoY Change
Total Liabilities & Shareholders Equity $67.00B $64.28B $64.68B
YoY Change 15.99% 27.72% 29.25%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $284.0M -$294.0M $188.0M
YoY Change 69.05% -58.06% 24.5%
Depreciation, Depletion And Amortization $493.0M $476.0M $425.0M
YoY Change 32.17% 35.61% 28.01%
Cash From Operating Activities $575.0M $668.0M $612.0M
YoY Change -30.64% 16.78% -15.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.158B -$1.667B -$1.577B
YoY Change 129.09% 66.53% 57.7%
Acquisitions $370.0M
YoY Change 72.9%
Other Investing Activities $4.000M -$554.0M -$1.329B
YoY Change -80.95% 7.99% -183.01%
Cash From Investing Activities -$2.585B -$2.221B -$2.906B
YoY Change 222.72% 46.7% -583.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $5.938B
YoY Change 200.35%
Cash From Financing Activities $3.026B 1.292B 2.168B
YoY Change 671.94% 263.94% -383.4%
NET CHANGE
Cash From Operating Activities $575.0M 668.0M 612.0M
Cash From Investing Activities -$2.585B -2.221B -2.906B
Cash From Financing Activities $3.026B 1.292B 2.168B
Net Change In Cash $1.016B -261.0M -126.0M
YoY Change 141.9% -55.54% -122.66%
FREE CASH FLOW
Cash From Operating Activities $575.0M $668.0M $612.0M
Capital Expenditures -$2.158B -$1.667B -$1.577B
Free Cash Flow $2.733B $2.335B $2.189B
YoY Change 54.32% 48.44% 27.27%

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CY2014Q4 us-gaap Commitments And Contingencies
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CY2014 us-gaap Comprehensive Income Net Of Tax
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CY2012 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2012 us-gaap Cost Of Goods Sold
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CY2012 us-gaap Costs And Expenses
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CY2013 us-gaap Costs And Expenses
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CY2014 us-gaap Costs And Expenses
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CY2014 us-gaap Current Federal Tax Expense Benefit
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CY2013 us-gaap Current Income Tax Expense Benefit
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CY2014 us-gaap Current Income Tax Expense Benefit
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CY2014 us-gaap Current State And Local Tax Expense Benefit
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CY2013Q4 us-gaap Customer Advances And Deposits Current
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CY2014Q4 us-gaap Customer Advances And Deposits Current
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CY2014 us-gaap Debt Instrument Covenant Description
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0.66
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CY2014 us-gaap Deconsolidation Gain Or Loss Amount
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CY2014Q4 us-gaap Deferred Tax Assets Inventory
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CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
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CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2013Q4 us-gaap Deferred Tax Liabilities
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CY2013Q4 us-gaap Deferred Tax Liabilities Current
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180000000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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CY2013Q4 us-gaap Deferred Tax Liabilities Gross Current
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CY2014Q4 us-gaap Deferred Tax Liabilities Gross Current
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CY2014Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2013Q4 us-gaap Deferred Tax Liabilities Noncurrent
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CY2014Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2014 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
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CY2013 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
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CY2014 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
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CY2013 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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CY2014 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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0.0541
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2018
CY2014Q4 us-gaap Defined Benefit Plan Year That Rate Reaches Ultimate Trend Rate
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54000000 USD
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8000000 USD
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8000000 USD
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CY2013 us-gaap Environmental Remediation Expense
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CY2014 us-gaap Environmental Remediation Expense
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CY2012 us-gaap Equity Method Investment Dividends Or Distributions
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1071000000 USD
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CY2014 us-gaap Fair Value Measured On Recurring Basis Gain Loss Included In Earnings
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256000000 USD
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259000000 USD
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260000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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260000000 USD
CY2012 us-gaap Gain Loss On Disposition Of Assets
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CY2014 us-gaap Gain Loss On Disposition Of Assets
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CY2012 us-gaap Gains Losses On Extinguishment Of Debt
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CY2014 us-gaap Goodwill Impairment Loss
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CY2013Q4 us-gaap Gross Profit
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CY2013 us-gaap Gross Profit
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CY2014 us-gaap Gross Profit
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375000000 USD
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282000000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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1060000000 USD
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0.17
CY2014 us-gaap Income Loss From Continuing Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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0.57
CY2012 us-gaap Income Loss From Continuing Operations Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013 us-gaap Income Loss From Continuing Operations Per Outstanding Limited Partnership Unit Basic Net Of Tax
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0.17
CY2014 us-gaap Income Loss From Continuing Operations Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2012 us-gaap Income Loss From Equity Method Investments
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CY2012 us-gaap Income Tax Expense Benefit
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0 shares
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75000000 USD
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CY2014 us-gaap Net Income Loss
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CY2012 us-gaap Net Income Loss Allocated To Limited Partners
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CY2012 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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CY2013 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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0.18
CY2014Q1 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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0.15
CY2014Q3 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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0.18
CY2014Q4 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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CY2014 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
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0.58
CY2012 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013Q3 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013Q4 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2013 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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0.18
CY2014Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2014Q3 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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CY2014 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
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0 USD
CY2014 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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0 USD
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CY2013 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2013Q3 us-gaap Operating Income Loss
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CY2013 us-gaap Operating Income Loss
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CY2014Q2 us-gaap Operating Income Loss
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CY2014Q3 us-gaap Operating Income Loss
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CY2014Q4 us-gaap Operating Income Loss
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CY2014 us-gaap Operating Income Loss
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CY2014 us-gaap Operating Leases Rent Expense Sublease Rentals1
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CY2014Q4 us-gaap Other Accrued Liabilities Current
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CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2013 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2014 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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2000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2013 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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10000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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340000000 USD
CY2014 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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CY2014 us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
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CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2014 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2013 us-gaap Profit Loss
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CY2012 us-gaap Revenue From Related Parties
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CY2013 us-gaap Revenue From Related Parties
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CY2014 us-gaap Revenue From Related Parties
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32.36
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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60.85
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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49.65
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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53.83
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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29000000 USD
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29000000 USD
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26000000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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48.12
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
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3000000 shares
CY2014Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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4000000 USD
CY2014 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Other Information
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleOtherInformation
2
CY2014Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7388000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16350000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16279000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22314000000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4000000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
54000000 USD
CY2013Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
32000000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
33000000 USD
CY2013 us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
-4000000 USD
CY2014 us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
-1000000 USD
CY2012 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
10000000 USD
CY2013 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
48000000 USD
CY2014 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
116000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
27000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
429000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
440000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
5000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
6000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
28000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
20000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
406000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
-1000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
439000000 USD
CY2012 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
1066900000 shares
CY2013 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
1121800000 shares
CY2014 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
1088600000 shares
CY2012 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
1066900000 shares
CY2013 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
1121800000 shares
CY2014 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
1090800000 shares
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the accrual for and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The natural gas industry conducts its business by processing actual transactions at the end of the month following the month of delivery. Consequently, the most current month&#8217;s financial results for the midstream, NGL and intrastate transportation and storage operations are estimated using volume estimates and market prices. Any differences between estimated results and actual results are recognized in the following month&#8217;s financial statements. Management believes that the estimated operating results represent the actual results in all material respects.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Some of the other significant estimates made by management include, but are not limited to, the timing of certain forecasted transactions that are hedged, the fair value of derivative instruments, useful lives for depreciation, depletion and amortization, purchase accounting allocations and subsequent realizability of intangible assets, fair value measurements used in the goodwill impairment test, market value of inventory, assets and liabilities resulting from the regulated ratemaking process, contingency reserves and environmental reserves. Actual values and results could differ from those estimates.</font></div></div>

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