2020 Q4 Form 10-K Financial Statement

#000109980021000007 Filed on February 12, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $1.192B $1.174B $1.094B
YoY Change 1.5% 20.09% 20.67%
Cost Of Revenue $296.3M $286.2M $292.4M
YoY Change 3.53% 21.94% 30.01%
Gross Profit $895.4M $887.9M $801.6M
YoY Change 0.84% 19.5% 17.59%
Gross Profit Margin 75.14% 75.62% 73.27%
Selling, General & Admin $338.5M $347.2M $306.2M
YoY Change -2.51% 20.51% 13.62%
% of Gross Profit 37.8% 39.1% 38.2%
Research & Development $195.7M $193.9M $195.5M
YoY Change 0.93% 18.88% 20.83%
% of Gross Profit 21.86% 21.84% 24.39%
Depreciation & Amortization $32.60M $23.90M $23.10M
YoY Change 36.4% 20.1% 20.31%
% of Gross Profit 3.64% 2.69% 2.88%
Operating Expenses $539.4M $522.6M $501.7M
YoY Change 3.21% 19.53% 16.32%
Operating Profit $356.0M $365.3M $294.3M
YoY Change -2.55% 19.46% 18.24%
Interest Expense $5.000M $7.000M $10.70M
YoY Change -28.57% 9.38% 78.33%
% of Operating Profit 1.4% 1.92% 3.64%
Other Income/Expense, Net -$300.0K -$300.0K $4.600M
YoY Change 0.0% -89.66% 1433.33%
Pretax Income $356.1M $315.5M $301.7M
YoY Change 12.87% -17627.78% 21.31%
Income Tax $46.60M $32.50M $27.00M
% Of Pretax Income 13.09% 10.3% 8.95%
Net Earnings $309.5M $280.2M $274.7M
YoY Change 10.46% 3902.86% 21.6%
Net Earnings / Revenue 25.97% 23.87% 25.11%
Basic Earnings Per Share $0.50 $0.45 $0.44
Diluted Earnings Per Share $0.49 $0.44 $0.43
COMMON SHARES
Basic Shares Outstanding 623.2M shares 208.6M shares 624.6M shares
Diluted Shares Outstanding 636.3M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.403B $1.517B $1.357B
YoY Change -7.54% 58.59% -14.97%
Cash & Equivalents $1.183B $1.179B $1.187B
Short-Term Investments $219.4M $337.8M $170.3M
Other Short-Term Assets $208.2M $168.0M $144.4M
YoY Change 23.93% 27.47% -3.99%
Inventory $802.3M $640.9M $611.1M
Prepaid Expenses $75.10M $59.10M $57.30M
Receivables $514.6M $543.6M $570.0M
Other Receivables $88.20M $55.50M $0.00
Total Short-Term Assets $3.091B $2.984B $2.740B
YoY Change 3.59% 30.48% -5.94%
LONG-TERM ASSETS
Property, Plant & Equipment $1.395B $1.060B $973.6M
YoY Change 31.59% 22.22% 17.85%
Goodwill $1.173B $1.168B $1.157B
YoY Change 0.47% 4.99% 3.06%
Intangibles $331.4M $336.5M $381.1M
YoY Change -1.52% -1.95% -18.55%
Long-Term Investments $5.700M $6.200M $6.900M
YoY Change -8.06% 40.91% 56.82%
Other Assets $119.6M $101.8M $100.2M
YoY Change 17.49% 202.98% 184.66%
Total Long-Term Assets $4.146B $3.504B $3.227B
YoY Change 18.32% 15.39% 5.94%
TOTAL ASSETS
Total Short-Term Assets $3.091B $2.984B $2.740B
Total Long-Term Assets $4.146B $3.504B $3.227B
Total Assets $7.237B $6.488B $5.966B
YoY Change 11.54% 21.87% 0.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $196.5M $180.4M $135.9M
YoY Change 8.92% 34.63% 1.42%
Accrued Expenses $578.7M $642.7M $597.6M
YoY Change -9.96% 25.97% 20.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $893.9M $902.4M $775.8M
YoY Change -0.94% 2.94% -38.48%
LONG-TERM LIABILITIES
Long-Term Debt $595.0M $594.4M $594.2M
YoY Change 0.1% 0.1% 0.1%
Other Long-Term Liabilities $252.4M $203.3M $159.9M
YoY Change 24.15% 35.53% -43.91%
Total Long-Term Liabilities $847.4M $797.7M $754.1M
YoY Change 6.23% 7.25% -14.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $893.9M $902.4M $775.8M
Total Long-Term Liabilities $847.4M $797.7M $754.1M
Total Liabilities $2.663B $1.700B $1.530B
YoY Change 56.63% 4.92% -28.5%
SHAREHOLDERS EQUITY
Retained Earnings $4.565B $3.742B $3.461B
YoY Change 22.01% 38.85% 28.79%
Common Stock $2.075B $1.841B $1.788B
YoY Change 12.66% 15.12% 14.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.904B $1.279B $1.279B
YoY Change 48.91% 25.93% 72.01%
Treasury Stock Shares 12.10M shares 9.000M shares 9.000M shares
Shareholders Equity $4.574B $4.148B $3.815B
YoY Change
Total Liabilities & Shareholders Equity $7.237B $6.488B $5.966B
YoY Change 11.54% 21.87% 0.14%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $309.5M $280.2M $274.7M
YoY Change 10.46% 3902.86% 21.6%
Depreciation, Depletion And Amortization $32.60M $23.90M $23.10M
YoY Change 36.4% 20.1% 20.31%
Cash From Operating Activities $400.0M $399.4M $437.3M
YoY Change 0.15% 36.31% 27.75%
INVESTING ACTIVITIES
Capital Expenditures -$113.5M -$71.50M -$76.10M
YoY Change 58.74% 17.99% -7.31%
Acquisitions
YoY Change
Other Investing Activities -$146.4M -$373.8M $63.40M
YoY Change -60.83% -663.8% -136.84%
Cash From Investing Activities -$259.9M -$445.3M -$12.70M
YoY Change -41.63% -7912.28% -95.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 41.40M 37.00M 34.40M
YoY Change 11.89% -104.38% -160.67%
NET CHANGE
Cash From Operating Activities 400.0M 399.4M 437.3M
Cash From Investing Activities -259.9M -445.3M -12.70M
Cash From Financing Activities 41.40M 37.00M 34.40M
Net Change In Cash 181.5M -8.900M 459.0M
YoY Change -2139.33% -98.37% 1361.78%
FREE CASH FLOW
Cash From Operating Activities $400.0M $399.4M $437.3M
Capital Expenditures -$113.5M -$71.50M -$76.10M
Free Cash Flow $513.5M $470.9M $513.4M
YoY Change 9.05% 33.17% 20.97%

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DESCRIPTION OF BUSINESSEdwards Lifesciences Corporation ("Edwards Lifesciences" or the "Company") conducts operations worldwide and is managed in the following geographical regions: United States, Europe, Japan, and Rest of World. Edwards Lifesciences is focused on technologies that treat structural heart disease and critically ill patients. The products and technologies provided by Edwards Lifesciences are categorized into the following main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements of Edwards Lifesciences have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") which have been applied consistently in all material respects. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. In particular, the novel Coronavirus ("COVID-19") pandemic has adversely impacted and is likely to further adversely impact nearly all aspects of our business and markets, including our workforce and the operations of our customers, suppliers, and business partners. The full extent to which the pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including sales, expenses, manufacturing, clinical trials, research and development costs, reserves and allowances, fair value measurements, asset impairment charges, contingent consideration obligations, and the effectiveness of the Company's hedging instruments, will depend on future developments that are highly uncertain and difficult to predict. These developments include, but are not limited to, the duration and spread of the outbreak (including new variants of COVID-19), its severity, the actions to contain the virus or address its impact, the timing, distribution, and efficacy of vaccines and other treatments, U.S. and foreign government actions to respond to the reduction in global economic activity, and how quickly and to what extent normal economic and operating conditions can resume.</span></div>
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622600000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
624800000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
627600000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9300000 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
11900000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
13300000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
631900000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
636700000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
640900000 shares
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.64
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
92600000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81300000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
71000000.0 USD
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
15400000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
14800000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
13400000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
77200000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
66500000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
57600000 USD
CY2020 us-gaap Maximum Length Of Time Foreign Currency Cash Flow Hedge
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P13M
CY2020 us-gaap Litigation Settlement Expense
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405400000 USD
CY2019 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
33400000 USD
CY2018 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
214000000.0 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
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136700000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
118000000.0 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
140000000.0 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
121700000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
525600000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
401200000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
802300000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
640900000 USD
CY2020Q4 us-gaap Land
Land
97600000 USD
CY2019Q4 us-gaap Land
Land
98000000.0 USD
CY2020Q4 ew Buildings And Leasehold Improvements Gross
BuildingsAndLeaseholdImprovementsGross
881500000 USD
CY2019Q4 ew Buildings And Leasehold Improvements Gross
BuildingsAndLeaseholdImprovementsGross
619800000 USD
CY2020Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
564900000 USD
CY2019Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
466300000 USD
CY2020Q4 ew Equipment With Customers
EquipmentWithCustomers
42200000 USD
CY2019Q4 ew Equipment With Customers
EquipmentWithCustomers
35600000 USD
CY2020Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
94200000 USD
CY2019Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
87900000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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88200000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
89800000 USD
CY2020Q4 ew Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
670200000 USD
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
313300000 USD
CY2019Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
265000000.0 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1993700000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1572600000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
598500000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
512300000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1395200000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1060300000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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236700000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
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295800000 USD
CY2020Q4 ew Accrued Rebates
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67200000 USD
CY2019Q4 ew Accrued Rebates
AccruedRebates
67100000 USD
CY2020Q4 ew Accrual For Property Payroll And Other Taxes Other Than Income Taxes Current
AccrualForPropertyPayrollAndOtherTaxesOtherThanIncomeTaxesCurrent
49700000 USD
CY2019Q4 ew Accrual For Property Payroll And Other Taxes Other Than Income Taxes Current
AccrualForPropertyPayrollAndOtherTaxesOtherThanIncomeTaxesCurrent
51400000 USD
CY2020Q4 ew Research And Development Accruals
ResearchAndDevelopmentAccruals
52300000 USD
CY2019Q4 ew Research And Development Accruals
ResearchAndDevelopmentAccruals
51400000 USD
CY2020Q4 us-gaap Litigation Reserve Current
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37500000 USD
CY2019Q4 us-gaap Litigation Reserve Current
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0 USD
CY2020Q4 ew Accrued Litigation And Insurance Reserves
AccruedLitigationAndInsuranceReserves
23300000 USD
CY2019Q4 ew Accrued Litigation And Insurance Reserves
AccruedLitigationAndInsuranceReserves
20000000.0 USD
CY2020Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
18600000 USD
CY2019Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
52900000 USD
CY2020Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
39300000 USD
CY2019Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
6400000 USD
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
14300000 USD
CY2019Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
17500000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7600000 USD
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
10100000 USD
CY2020Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
14500000 USD
CY2019Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
16700000 USD
CY2020Q4 ew Accrued Relocation Costs Current
AccruedRelocationCostsCurrent
21000000.0 USD
CY2019Q4 ew Accrued Relocation Costs Current
AccruedRelocationCostsCurrent
17400000 USD
CY2019Q4 ew Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
696500000 USD
CY2019 us-gaap Inventory Write Down
InventoryWriteDown
73100000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
19900000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
19900000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
30100000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
197900000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
61500000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
223700000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
29700000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
28600000 USD
CY2018 us-gaap Operating Lease Payments
OperatingLeasePayments
0 USD
CY2020 us-gaap Stock Issued1
StockIssued1
0 USD
CY2019 us-gaap Stock Issued1
StockIssued1
0 USD
CY2018 us-gaap Stock Issued1
StockIssued1
34300000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
39700000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
49600000 USD
CY2018 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
80400000 USD
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
50800000 USD
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
18700000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1183200000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1179100000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
714100000 USD
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
16600000 USD
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1600000 USD
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1500000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
400000 USD
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3700000 USD
CY2018Q4 us-gaap Restricted Cash Noncurrent
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300000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1200200000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1184400000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
715900000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
30500000 USD
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
27900000 USD
CY2018 us-gaap Operating Lease Cost
OperatingLeaseCost
27000000.0 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
94200000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
80100000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25500000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
72700000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58900000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
99900000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
84400000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
30000000.0 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20700000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14400000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8800000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6100000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
28100000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
108100000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8200000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
99900000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M6D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2020Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.027
CY2019Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.028
CY2020 ew Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
0 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
924300000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
11600000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
935900000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
790500000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3500000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
200000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
793800000 USD
CY2020Q4 us-gaap Heldtomaturity Securities Debt Maturities Next Rolling Twelve Months Amortized Cost
HeldtomaturitySecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCost
50000000.0 USD
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Next Rolling Twelve Months Fair Value
HeldToMaturitySecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
50000000.0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
168400000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
169400000 USD
CY2020Q4 us-gaap Heldtomaturity Securities Debt Maturities Rolling Year Two Through Five Amortized Cost
HeldtomaturitySecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCost
0 USD
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Rolling Year Two Through Five Fair Value
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0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
578200000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
586500000 USD
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
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0 USD
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
177700000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
180000000.0 USD
CY2020Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
50000000.0 USD
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
50000000.0 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
924300000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
935900000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
0 investment
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
154800000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
200000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
154800000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
200000 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5700000 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
6200000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
29400000 USD
CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
23100000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
35100000 USD
CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
29300000 USD
CY2020 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
1800000 USD
CY2020 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
700000 USD
CY2019 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
300000 USD
CY2018Q4 us-gaap Goodwill
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1112200000 USD
CY2019 us-gaap Goodwill Acquired During Period
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64400000 USD
CY2019 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-8900000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
1167700000 USD
CY2020 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
5500000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1173200000 USD
CY2020 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P12Y7M6D
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
353900000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
240600000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
113300000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
351500000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
233100000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
118400000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
572000000.0 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
240600000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
331400000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
569600000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
233100000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
336500000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5400000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000 USD
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5200000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
7600000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
10100000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12200000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
14800000 USD
CY2020Q4 us-gaap Longterm Debt Weighted Average Interest Rate
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0.035
CY2019Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.034
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
172500000 USD
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
178600000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-13600000 USD
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
6100000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
186100000 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
172500000 USD
CY2020 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1080600000 USD
CY2020 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1228400000 USD
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11500000 USD
CY2019 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1114400000 USD
CY2019 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1242200000 USD
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8200000 USD
CY2020 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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