2021 Form 10-K Financial Statement

#000109980022000005 Filed on February 14, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $5.233B $1.192B $4.386B
YoY Change 19.29% 1.5% 0.88%
Cost Of Revenue $1.249B $296.3M $1.081B
YoY Change 15.57% 3.53% -3.03%
Gross Profit $3.984B $895.4M $3.306B
YoY Change 20.51% 0.84% 2.23%
Gross Profit Margin 76.13% 75.14% 75.36%
Selling, General & Admin $1.494B $338.5M $1.228B
YoY Change 21.6% -2.51% -1.11%
% of Gross Profit 37.5% 37.8% 37.16%
Research & Development $903.1M $195.7M $760.7M
YoY Change 18.72% 0.93% 1.06%
% of Gross Profit 22.67% 21.86% 23.01%
Depreciation & Amortization $134.8M $32.60M $107.2M
YoY Change 25.75% 36.4% 20.04%
% of Gross Profit 3.38% 3.64% 3.24%
Operating Expenses $2.397B $539.4M $1.989B
YoY Change 20.5% 3.21% -0.29%
Operating Profit $1.690B $356.0M $897.6M
YoY Change 88.31% -2.55% -21.73%
Interest Expense $18.40M $5.000M $15.80M
YoY Change 16.46% -28.57% -23.67%
% of Operating Profit 1.09% 1.4% 1.76%
Other Income/Expense, Net $12.70M -$300.0K $11.50M
YoY Change 10.43% 0.0% 40.24%
Pretax Income $1.702B $356.1M $916.7M
YoY Change 85.67% 12.87% -21.41%
Income Tax $198.9M $46.60M $93.30M
% Of Pretax Income 11.69% 13.09% 10.18%
Net Earnings $1.503B $309.5M $823.4M
YoY Change 82.55% 10.46% -21.35%
Net Earnings / Revenue 28.73% 25.97% 18.77%
Basic Earnings Per Share $2.41 $0.50 $1.32
Diluted Earnings Per Share $2.38 $0.49 $1.30
COMMON SHARES
Basic Shares Outstanding 623.3M shares 623.2M shares 622.6M shares
Diluted Shares Outstanding 631.2M shares 631.9M shares

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.467B $1.403B $1.403B
YoY Change 4.58% -7.54% -7.54%
Cash & Equivalents $862.8M $1.183B $1.183B
Short-Term Investments $604.0M $219.4M $219.4M
Other Short-Term Assets $322.3M $208.2M $283.3M
YoY Change 13.77% 23.93% 24.75%
Inventory $726.7M $802.3M $802.3M
Prepaid Expenses $75.10M
Receivables $582.2M $514.6M $514.6M
Other Receivables $82.70M $88.20M $88.20M
Total Short-Term Assets $3.181B $3.091B $3.091B
YoY Change 2.9% 3.59% 3.59%
LONG-TERM ASSETS
Property, Plant & Equipment $1.639B $1.395B $1.489B
YoY Change 10.02% 31.59% 30.6%
Goodwill $1.173B
YoY Change 0.47%
Intangibles $331.4M
YoY Change -1.52%
Long-Term Investments $1.834B $5.700M $801.6M
YoY Change 128.82% -8.06% 36.91%
Other Assets $357.5M $119.6M $350.5M
YoY Change 2.0% 17.49% 27.92%
Total Long-Term Assets $5.322B $4.146B $4.146B
YoY Change 28.36% 18.32% 18.32%
TOTAL ASSETS
Total Short-Term Assets $3.181B $3.091B $3.091B
Total Long-Term Assets $5.322B $4.146B $4.146B
Total Assets $8.503B $7.237B $7.237B
YoY Change 17.49% 11.54% 11.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $204.5M $196.5M $196.5M
YoY Change 4.07% 8.92% 8.92%
Accrued Expenses $714.2M $578.7M $578.7M
YoY Change 23.41% -9.96% -9.96%
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 $1.032B $893.9M $893.9M
YoY Change 15.48% -0.94% -0.94%
LONG-TERM LIABILITIES
Long-Term Debt $595.7M $595.0M $595.0M
YoY Change 0.12% 0.1% 0.1%
Other Long-Term Liabilities $779.7M $252.4M $959.5M
YoY Change -18.74% 24.15% 42.93%
Total Long-Term Liabilities $1.375B $847.4M $1.555B
YoY Change -11.52% 6.23% 22.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.032B $893.9M $893.9M
Total Long-Term Liabilities $1.375B $847.4M $1.555B
Total Liabilities $2.667B $2.663B $2.663B
YoY Change 0.15% 56.63% 13.8%
SHAREHOLDERS EQUITY
Retained Earnings $4.565B
YoY Change 22.01%
Common Stock $2.075B
YoY Change 12.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.904B
YoY Change 48.91%
Treasury Stock Shares 12.10M shares
Shareholders Equity $5.836B $4.574B $4.574B
YoY Change
Total Liabilities & Shareholders Equity $8.503B $7.237B $7.237B
YoY Change 17.49% 11.54% 11.54%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $1.503B $309.5M $823.4M
YoY Change 82.55% 10.46% -21.35%
Depreciation, Depletion And Amortization $134.8M $32.60M $107.2M
YoY Change 25.75% 36.4% 20.04%
Cash From Operating Activities $1.732B $400.0M $1.054B
YoY Change 64.29% 0.15% -10.87%
INVESTING ACTIVITIES
Capital Expenditures $325.8M -$113.5M $407.0M
YoY Change -19.95% 58.74% 59.98%
Acquisitions
YoY Change
Other Investing Activities $44.40M -$146.4M $12.10M
YoY Change 266.94% -60.83% 9.01%
Cash From Investing Activities -$1.723B -$259.9M -$531.1M
YoY Change 224.33% -41.63% -10.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $512.8M $625.4M
YoY Change -18.0% 137.52%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$356.3M 41.40M -$486.9M
YoY Change -26.82% 11.89% 321.19%
NET CHANGE
Cash From Operating Activities $1.732B 400.0M $1.054B
Cash From Investing Activities -$1.723B -259.9M -$531.1M
Cash From Financing Activities -$356.3M 41.40M -$486.9M
Net Change In Cash -$332.8M 181.5M $15.80M
YoY Change -2206.33% -2139.33% -96.63%
FREE CASH FLOW
Cash From Operating Activities $1.732B $400.0M $1.054B
Capital Expenditures $325.8M -$113.5M $407.0M
Free Cash Flow $1.406B $513.5M $647.3M
YoY Change 117.26% 9.05% -30.29%

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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 COVID-19 pandemic has adversely impacted, and may further adversely impact, nearly all aspects of the Company's business and markets, including its workforce and the operations of its 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 and more contagious variants of COVID-19), its severity, the actions to contain the virus or address its impact, the timing, distribution, public acceptance and efficacy of vaccines and other treatments, United States 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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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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623300000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
622600000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
624800000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7900000 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
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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631200000 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
CY2021 us-gaap Earnings Per Share Diluted
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2.38
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.64
CY2020 us-gaap Litigation Settlement Expense
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405400000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
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109300000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
92600000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81300000 USD
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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18900000 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
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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90400000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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77200000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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66500000 USD
CY2021 us-gaap Maximum Length Of Time Foreign Currency Cash Flow Hedge
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P13M
CY2021 us-gaap Litigation Settlement Expense
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20600000 USD
CY2019 us-gaap Litigation Settlement Expense
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33400000 USD
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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132800000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
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136700000 USD
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
164300000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
140000000.0 USD
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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429600000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
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525600000 USD
CY2021Q4 us-gaap Inventory Net
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726700000 USD
CY2020Q4 us-gaap Inventory Net
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802300000 USD
CY2021Q4 us-gaap Land
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116500000 USD
CY2020Q4 us-gaap Land
Land
97600000 USD
CY2021Q4 ew Buildings And Leasehold Improvements Gross
BuildingsAndLeaseholdImprovementsGross
1010100000 USD
CY2020Q4 ew Buildings And Leasehold Improvements Gross
BuildingsAndLeaseholdImprovementsGross
881500000 USD
CY2021Q4 us-gaap Machinery And Equipment Gross
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613400000 USD
CY2020Q4 us-gaap Machinery And Equipment Gross
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564900000 USD
CY2021Q4 ew Equipment With Customers
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39200000 USD
CY2020Q4 ew Equipment With Customers
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42200000 USD
CY2021Q4 us-gaap Capitalized Computer Software Gross
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88200000 USD
CY2020Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
94200000 USD
CY2020Q4 ew Accrued Litigation And Insurance Reserves
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60800000 USD
CY2021Q4 us-gaap Construction In Progress Gross
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333800000 USD
CY2020Q4 us-gaap Construction In Progress Gross
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313300000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2201200000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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1993700000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
654600000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
598500000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
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1546600000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1395200000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
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319700000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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236700000 USD
CY2021Q4 ew Accrued Rebates
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77000000.0 USD
CY2020Q4 ew Accrued Rebates
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67200000 USD
CY2021Q4 ew Accrual For Property Payroll And Other Taxes Other Than Income Taxes Current
AccrualForPropertyPayrollAndOtherTaxesOtherThanIncomeTaxesCurrent
68900000 USD
CY2020Q4 ew Accrual For Property Payroll And Other Taxes Other Than Income Taxes Current
AccrualForPropertyPayrollAndOtherTaxesOtherThanIncomeTaxesCurrent
49700000 USD
CY2021Q4 ew Research And Development Accruals
ResearchAndDevelopmentAccruals
58200000 USD
CY2020Q4 ew Research And Development Accruals
ResearchAndDevelopmentAccruals
52300000 USD
CY2021Q4 ew Accrued Litigation And Insurance Reserves
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79100000 USD
CY2021Q4 us-gaap Accrued Income Taxes Current
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30600000 USD
CY2020Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
18600000 USD
CY2021Q4 us-gaap Derivative Liabilities Current
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3900000 USD
CY2020Q4 us-gaap Derivative Liabilities Current
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39300000 USD
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
20100000 USD
CY2020Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
14300000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
11900000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
7600000 USD
CY2021Q4 us-gaap Restructuring Reserve Current
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19100000 USD
CY2020Q4 us-gaap Restructuring Reserve Current
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14500000 USD
CY2021Q4 ew Accrued Relocation Costs Current
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26200000 USD
CY2020Q4 ew Accrued Relocation Costs Current
AccruedRelocationCostsCurrent
21000000.0 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
87600000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
88200000 USD
CY2021Q4 ew Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
802300000 USD
CY2020Q4 ew Accrued And Other Liabilities Current
AccruedAndOtherLiabilitiesCurrent
670200000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
20200000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
19900000 USD
CY2019 us-gaap Interest Paid Net
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19900000 USD
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
182500000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
197900000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
61500000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
31900000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
29700000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
28600000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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28700000 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
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
54300000 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
CY2021 ew Notes Receivable Converted To Equity Investment
NotesReceivableConvertedToEquityInvestment
21500000 USD
CY2020 ew Notes Receivable Converted To Equity Investment
NotesReceivableConvertedToEquityInvestment
4500000 USD
CY2019 ew Notes Receivable Converted To Equity Investment
NotesReceivableConvertedToEquityInvestment
0 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
862800000 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
CY2021Q4 us-gaap Restricted Cash Current
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1500000 USD
CY2020 us-gaap Operating Lease Cost
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30500000 USD
CY2021 us-gaap Operating Lease Cost
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29700000 USD
CY2020Q4 us-gaap Restricted Cash Current
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16600000 USD
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1600000 USD
CY2021Q4 us-gaap Restricted Cash Noncurrent
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3100000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
400000 USD
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3700000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
867400000 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
CY2019 us-gaap Operating Lease Cost
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27900000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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92100000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
94200000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25500000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
69100000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
72700000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
94600000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
99900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27500000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23000000.0 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13600000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7500000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
24600000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
104500000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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9900000 USD
CY2021Q4 us-gaap Operating Lease Liability
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94600000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M6D
CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.025
CY2020Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.027
CY2021 ew Lessee Operating Lease Lease Not Yet Commenced Amount
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2500000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2192700000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2900000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11900000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2183700000 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
CY2021Q4 us-gaap Heldtomaturity Securities Debt Maturities Next Rolling Twelve Months Amortized Cost
HeldtomaturitySecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCost
162000000.0 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Next Rolling Twelve Months Fair Value
HeldToMaturitySecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
162000000.0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
441300000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
442000000.0 USD
CY2021Q4 us-gaap Heldtomaturity Securities Debt Maturities Rolling Year Two Through Five Amortized Cost
HeldtomaturitySecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCost
0 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Rolling Year Two Through Five Fair Value
HeldToMaturitySecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
1196700000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1189600000 USD
CY2021Q4 us-gaap Heldtomaturity Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost
HeldtomaturitySecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCost
0 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Rolling Year Six Through Ten Fair Value
HeldToMaturitySecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
8700000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
8600000 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateNetCarryingAmount
0 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
546000000.0 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
543500000 USD
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
162000000.0 USD
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
162000000.0 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2192700000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2183700000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1632500000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
11900000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1632500000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
11900000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
0 investment
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
8400000 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5700000 USD
CY2021Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
84100000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
29400000 USD
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
92500000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
35100000 USD
CY2021 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
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4200000 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
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-700000 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
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-5300000 USD
CY2021Q4 us-gaap Goodwill
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1167900000 USD
CY2021 us-gaap Finite Lived Intangible Asset Useful Life
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P12Y7M6D
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
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352000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
246500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
105500000 USD
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
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
570100000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
246500000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
323600000 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
CY2021 us-gaap Amortization Of Intangible Assets
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7700000 USD
CY2020 us-gaap Amortization Of Intangible Assets
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5400000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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6800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8400000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8400000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10200000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
15900000 USD
CY2021Q4 us-gaap Longterm Debt Weighted Average Interest Rate
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0.034
CY2020Q4 us-gaap Longterm Debt Weighted Average Interest Rate
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0.035
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
172500000 USD
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-13600000 USD
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
186100000 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
14000000.0 USD
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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1241700000 USD

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