2021 Q4 Form 10-Q Financial Statement

#000079835421000018 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $4.257B $4.163B $3.832B
YoY Change 11.09% 9.96% -5.27%
Cost Of Revenue $2.203B $2.051B $1.857B
YoY Change 18.63% 9.8% -9.9%
Gross Profit $2.054B $2.112B $1.975B
YoY Change 4.0% 10.11% -0.45%
Gross Profit Margin 48.25% 50.73% 51.54%
Selling, General & Admin $1.512B $1.476B $1.459B
YoY Change 3.63% 4.53% -0.27%
% of Gross Profit 73.61% 69.89% 73.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $781.0M $805.0M $774.0M
YoY Change 0.9% 2.29% -1.9%
% of Gross Profit 38.02% 38.12% 39.19%
Operating Expenses $1.512B $1.476B $1.459B
YoY Change 3.63% 4.53% -0.27%
Operating Profit $542.0M $636.0M $516.0M
YoY Change 5.04% 17.34% 7.95%
Interest Expense -$135.0M $173.0M -$180.0M
YoY Change -25.0% -1.7% -10.0%
% of Operating Profit -24.91% 27.2% -34.88%
Other Income/Expense, Net $14.00M
YoY Change 7.69%
Pretax Income $398.0M $478.0M $336.0M
YoY Change 18.45% 25.46% 20.86%
Income Tax $63.00M $54.00M $20.00M
% Of Pretax Income 15.83% 11.3% 5.95%
Net Earnings $333.0M $428.0M $300.0M
YoY Change 11.0% 62.12% 21.46%
Net Earnings / Revenue 7.82% 10.28% 7.83%
Basic Earnings Per Share $0.65
Diluted Earnings Per Share $501.4K $0.64 $440.3K
COMMON SHARES
Basic Shares Outstanding 660.2M shares 661.4M shares 670.4M shares
Diluted Shares Outstanding 669.7M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $835.0M $933.0M $906.0M
YoY Change -7.84% -0.43% 1.46%
Cash & Equivalents $835.0M $942.0M $906.0M
Short-Term Investments
Other Short-Term Assets $15.18B $14.70B $12.83B
YoY Change 18.27% 36.54% -4.04%
Inventory
Prepaid Expenses $410.0M $348.0M
Receivables $2.860B $2.793B $2.482B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $18.87B $18.43B $16.22B
YoY Change 16.35% 31.37% -4.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.742B $1.717B $1.628B
YoY Change 7.0% 5.34% 1.37%
Goodwill $36.43B $36.30B $36.32B
YoY Change 0.31% 1.1% 0.79%
Intangibles
YoY Change
Long-Term Investments $2.561B $2.602B $2.756B
YoY Change -7.08% -6.13% 1.32%
Other Assets $1.823B $1.670B $1.644B
YoY Change 10.89% -4.08% -15.86%
Total Long-Term Assets $57.38B $57.34B $58.40B
YoY Change -1.75% -1.72% -3.46%
TOTAL ASSETS
Total Short-Term Assets $18.87B $18.43B $16.22B
Total Long-Term Assets $57.38B $57.34B $58.40B
Total Assets $76.25B $75.77B $74.62B
YoY Change 2.18% 4.69% -3.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $593.0M $496.0M $437.0M
YoY Change 35.7% 32.98% 11.48%
Accrued Expenses $15.67B $15.13B $13.44B
YoY Change 16.62% 33.97% -2.4%
Deferred Revenue $585.0M $529.0M $546.0M
YoY Change 7.14% 17.29% 10.98%
Short-Term Debt $240.0M $155.0M $144.0M
YoY Change 66.67% 28.1% -4.0%
Long-Term Debt Due $268.0M $294.0M $240.0M
YoY Change 11.67% 20.49% 75.18%
Total Short-Term Liabilities $18.30B $17.56B $15.64B
YoY Change 17.0% 32.41% -0.57%
LONG-TERM LIABILITIES
Long-Term Debt $20.73B $20.54B $20.30B
YoY Change 2.11% -1.69% -6.07%
Other Long-Term Liabilities $878.0M $764.0M $777.0M
YoY Change 13.0% -7.28% -17.43%
Total Long-Term Liabilities $878.0M $764.0M $777.0M
YoY Change 13.0% -7.28% -17.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.30B $17.56B $15.64B
Total Long-Term Liabilities $878.0M $764.0M $777.0M
Total Liabilities $44.30B $43.18B $41.29B
YoY Change 7.29% 8.82% -3.26%
SHAREHOLDERS EQUITY
Retained Earnings $14.85B $14.44B $13.44B
YoY Change 10.45% 9.9% 7.29%
Common Stock $22.99B $22.98B $23.65B
YoY Change -2.79% -3.35% -0.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.140B $5.179B $4.375B
YoY Change 40.34% 17.78% 40.31%
Treasury Stock Shares 134.0M shares 124.0M shares 121.0M shares
Shareholders Equity $30.95B $31.60B $32.33B
YoY Change
Total Liabilities & Shareholders Equity $76.25B $75.77B $74.62B
YoY Change 2.18% 4.69% -3.77%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $333.0M $428.0M $300.0M
YoY Change 11.0% 62.12% 21.46%
Depreciation, Depletion And Amortization $781.0M $805.0M $774.0M
YoY Change 0.9% 2.29% -1.9%
Cash From Operating Activities $1.343B $678.0M $1.186B
YoY Change 13.24% -34.93% 0.68%
INVESTING ACTIVITIES
Capital Expenditures -$346.0M -$320.0M -$211.0M
YoY Change 63.98% 59.2% -27.24%
Acquisitions
YoY Change
Other Investing Activities -$319.0M $53.00M $24.00M
YoY Change -1429.17% 152.38% -81.54%
Cash From Investing Activities -$665.0M -$267.0M -$187.0M
YoY Change 255.61% 48.33% 16.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.00M -481.0M -1.051B
YoY Change -95.34% -41.77% -9.4%
NET CHANGE
Cash From Operating Activities 1.343B 678.0M 1.186B
Cash From Investing Activities -665.0M -267.0M -187.0M
Cash From Financing Activities -49.00M -481.0M -1.051B
Net Change In Cash 629.0M -70.00M -52.00M
YoY Change -1309.62% -294.44% -63.38%
FREE CASH FLOW
Cash From Operating Activities $1.343B $678.0M $1.186B
Capital Expenditures -$346.0M -$320.0M -$211.0M
Free Cash Flow $1.689B $998.0M $1.397B
YoY Change 20.9% -19.71% -4.84%

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190000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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fisv Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
NoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
32000000 USD
fisv Noncontrolling Interest Decrease From Distributions To Deconsolidation
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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633000000 USD
fisv Noncontrolling Interest Increase Decreasefrom Business Combination Measurement Period Adjustments
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
30000000 USD
us-gaap Noncontrolling Interest Decrease From Deconsolidation
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762000000 USD
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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286000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2020Q3 fisv Finance Lease Right Of Use Asset Accelerated Amortization
FinanceLeaseRightOfUseAssetAcceleratedAmortization
17000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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1435000000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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32429000000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
29000000 USD
fisv Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
NoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
31000000 USD
CY2021Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months
5000000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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183000000 USD
CY2021Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-20000000 USD
CY2021Q3 fisv Other Comprehensive Income Loss Net Investment Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossAfterReclassificationAndTax
71000000 USD
CY2020Q3 fisv Other Comprehensive Income Loss Net Investment Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossAfterReclassificationAndTax
-92000000 USD
fisv Other Comprehensive Income Loss Net Investment Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossAfterReclassificationAndTax
77000000 USD
fisv Other Comprehensive Income Loss Net Investment Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossAfterReclassificationAndTax
-38000000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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63000000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
84000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
190000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
286000000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
321000000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14689000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
50.82
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
110.41
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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59000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
107.83
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
36.45
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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55.75
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P4Y4M28D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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600000000 USD
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9692000 shares
us-gaap Business Exit Costs1
BusinessExitCosts1
44000000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
47.71
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y9M10D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
591000000 USD
CY2021Q3 us-gaap Business Combination Integration Related Costs
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30000000 USD
CY2020Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
41000000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
58000000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
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CY2021Q3 us-gaap Business Exit Costs1
BusinessExitCosts1
1000000 USD
CY2020Q3 us-gaap Business Exit Costs1
BusinessExitCosts1
4000000 USD
us-gaap Business Exit Costs1
BusinessExitCosts1
6000000 USD
us-gaap Effective Income Tax Rate Continuing Operations
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0.237
CY2020Q3 fisv Restructuring And Related Cost Accelerated Amortization
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18000000 USD
fisv Restructuring And Related Cost Accelerated Amortization
RestructuringAndRelatedCostAcceleratedAmortization
53000000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
54000000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
124000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
176000000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.113
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.325
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.211
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.113
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.325
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.211
CY2020Q3 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
32000000 USD
us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
134000000 USD
fisv Disposal Group Not Discontinued Operation Gainon Disposal Tax Expense
DisposalGroupNotDiscontinuedOperationGainonDisposalTaxExpense
112000000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
32000000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits
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136000000 USD
CY2021Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
26000000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
661400000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
669800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
664600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
672600000 shares
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8300000 shares
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
10500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11500000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
669700000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
680300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
674100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
684100000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1600000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2600000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
us-gaap Interest Paid Net
InterestPaidNet
533000000 USD
us-gaap Interest Paid Net
InterestPaidNet
548000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
555000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
143000000 USD
us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
0 USD
us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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726000000 USD
fisv Financed Software Arrangements
FinancedSoftwareArrangements
143000000 USD
fisv Financed Software Arrangements
FinancedSoftwareArrangements
130000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
75000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
183000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
331000000 USD
CY2021Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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1000000000 USD
CY2020Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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1700000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4163000000 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
636000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3786000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
542000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11969000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1755000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11020000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1336000000 USD

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