2016 Q4 Form 10-K Financial Statement

#000140807517000011 Filed on February 08, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015 Q3
Revenue $1.057B $1.025B $1.070B
YoY Change 3.15% 2.38% 1.9%
Cost Of Revenue $869.2M $811.9M $868.1M
YoY Change 7.06% -0.71% 2.42%
Gross Profit $188.1M $199.6M $201.9M
YoY Change -5.76% 8.07% -0.25%
Gross Profit Margin 17.79% 19.48% 18.87%
Selling, General & Admin $95.00M $89.90M $83.70M
YoY Change 5.67% 3.93% 0.12%
% of Gross Profit 50.51% 45.04% 41.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.20M $67.70M $73.50M
YoY Change 11.08% -0.15% 11.7%
% of Gross Profit 39.98% 33.92% 36.4%
Operating Expenses $96.10M $95.40M $83.70M
YoY Change 0.73% 12.5% 0.12%
Operating Profit $78.10M $101.6M $110.0M
YoY Change -23.13% 14.54% -2.05%
Interest Expense -$21.40M -$24.70M $16.50M
YoY Change -13.36% 47.9% -19.12%
% of Operating Profit -27.4% -24.31% 15.0%
Other Income/Expense, Net
YoY Change
Pretax Income $56.60M $85.00M $93.50M
YoY Change -33.41% 52.88% 1.74%
Income Tax $21.90M $28.10M $33.60M
% Of Pretax Income 38.69% 33.06% 35.94%
Net Earnings $34.90M $57.20M $60.20M
YoY Change -38.99% 37.83% 13.58%
Net Earnings / Revenue 3.3% 5.58% 5.63%
Basic Earnings Per Share $0.11 $0.17 $0.18
Diluted Earnings Per Share $0.11 $0.17 $0.18
COMMON SHARES
Basic Shares Outstanding 317.6M shares 327.7M shares 329.7M shares
Diluted Shares Outstanding 330.4M shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.10M $54.90M $81.50M
YoY Change 7.65% -32.72% 47.64%
Cash & Equivalents $59.10M $54.90M $81.50M
Short-Term Investments
Other Short-Term Assets $46.10M $30.90M $35.30M
YoY Change 49.19% -3.44% 7.95%
Inventory $582.9M $557.1M $569.3M
Prepaid Expenses $34.10M $30.50M
Receivables $363.3M $336.8M $483.2M
Other Receivables $63.50M $87.10M $0.00
Total Short-Term Assets $1.115B $1.067B $1.350B
YoY Change 4.51% 1.7% 3.89%
LONG-TERM ASSETS
Property, Plant & Equipment $1.752B $1.586B $1.553B
YoY Change 10.43% 2.56% 0.51%
Goodwill $1.260B $1.168B $1.159B
YoY Change 7.92% 4.45% 3.3%
Intangibles $445.3M $386.7M $379.7M
YoY Change 15.15% 0.29% -5.31%
Long-Term Investments
YoY Change
Other Assets $31.00M $48.40M $66.70M
YoY Change -35.95% 27.03% 4.87%
Total Long-Term Assets $3.489B $3.189B $3.158B
YoY Change 9.38% 3.26% 0.85%
TOTAL ASSETS
Total Short-Term Assets $1.115B $1.067B $1.350B
Total Long-Term Assets $3.489B $3.189B $3.158B
Total Assets $4.603B $4.256B $4.508B
YoY Change 8.16% 2.86% 1.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $466.5M $457.9M $411.6M
YoY Change 1.88% 7.77% -2.49%
Accrued Expenses $249.9M $204.0M $247.4M
YoY Change 22.5% 7.94% 14.43%
Deferred Revenue
YoY Change
Short-Term Debt $37.10M $10.80M $0.00
YoY Change 243.52% 92.86%
Long-Term Debt Due $25.00M $25.00M $33.80M
YoY Change 0.0% 0.0% -50.29%
Total Short-Term Liabilities $779.8M $732.2M $692.8M
YoY Change 6.5% 8.2% -1.91%
LONG-TERM LIABILITIES
Long-Term Debt $2.089B $1.839B $1.960B
YoY Change 13.57% -4.5% -2.53%
Other Long-Term Liabilities $68.10M $69.30M $74.00M
YoY Change -1.73% -11.27% -71.06%
Total Long-Term Liabilities $2.157B $1.908B $2.034B
YoY Change 13.02% -4.76% -10.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $779.8M $732.2M $692.8M
Total Long-Term Liabilities $2.157B $1.908B $2.034B
Total Liabilities $2.936B $2.640B $2.727B
YoY Change 11.21% -1.49% -8.27%
SHAREHOLDERS EQUITY
Retained Earnings -$268.0M -$326.8M -$343.8M
YoY Change -17.99% -27.84% -30.46%
Common Stock $1.709B $1.771B $1.782B
YoY Change -3.5% -1.42% -0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.057B $1.102B $1.104B
YoY Change
Total Liabilities & Shareholders Equity $4.603B $4.256B $4.508B
YoY Change 8.16% 2.86% 1.74%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $34.90M $57.20M $60.20M
YoY Change -38.99% 37.83% 13.58%
Depreciation, Depletion And Amortization $75.20M $67.70M $73.50M
YoY Change 11.08% -0.15% 11.7%
Cash From Operating Activities $247.1M $238.2M $173.7M
YoY Change 3.74% 21.9% -2.2%
INVESTING ACTIVITIES
Capital Expenditures -$36.20M -$62.40M -$54.70M
YoY Change -41.99% 24.8% 28.71%
Acquisitions
YoY Change
Other Investing Activities -$1.900M -$43.30M -$3.500M
YoY Change -95.61% -2161.9% 25.0%
Cash From Investing Activities -$38.10M -$105.7M -$58.20M
YoY Change -63.95% 120.67% 28.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -193.2M -158.3M -79.30M
YoY Change 22.05% 33.59% -65.58%
NET CHANGE
Cash From Operating Activities 247.1M 238.2M 173.7M
Cash From Investing Activities -38.10M -105.7M -58.20M
Cash From Financing Activities -193.2M -158.3M -79.30M
Net Change In Cash 15.80M -25.80M 36.20M
YoY Change -161.24% -188.97% -136.9%
FREE CASH FLOW
Cash From Operating Activities $247.1M $238.2M $173.7M
Capital Expenditures -$36.20M -$62.40M -$54.70M
Free Cash Flow $283.3M $300.6M $228.4M
YoY Change -5.76% 22.49% 3.77%

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CY2015 us-gaap Adjustment For Amortization
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CY2016 us-gaap Adjustment For Amortization
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5100000 USD
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9200000 USD
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20400000 USD
CY2016 us-gaap Allocated Share Based Compensation Expense
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20200000 USD
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6700000 USD
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4800000 USD
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4100000 USD
CY2016 us-gaap Amortization Of Financing Costs
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4800000 USD
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700000 USD
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5000000 USD
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12400000 USD
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21200000 USD
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1800000 USD
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17900000 USD
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800000 USD
CY2016Q4 us-gaap Capital Lease Obligations Current
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1300000 USD
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27200000 USD
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2100000 USD
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1800000 USD
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1800000 USD
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
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1800000 USD
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
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2100000 USD
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17600000 USD
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9300000 USD
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17900000 USD
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16900000 USD
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52200000 USD
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81600000 USD
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54900000 USD
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59100000 USD
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4200000 USD
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CY2016Q4 us-gaap Commitments And Contingencies
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0.05
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0.05
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0.05
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0.05
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0.05
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0.05
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0.05
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0.075
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0.01
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
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1000000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
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324688717 shares
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CY2016Q4 us-gaap Common Stock Shares Outstanding
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3200000 USD
CY2016Q4 us-gaap Common Stock Value Outstanding
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3100000 USD
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CY2015 us-gaap Comprehensive Income Net Of Tax
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219000000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax
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186100000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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0 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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0 USD
CY2014 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2015 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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219000000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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186100000 USD
CY2014 us-gaap Cost Of Goods Sold
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CY2016 us-gaap Cost Of Goods Sold
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3506200000 USD
CY2014 us-gaap Current Federal Tax Expense Benefit
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7500000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
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7900000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
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5100000 USD
CY2014 us-gaap Current Foreign Tax Expense Benefit
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4800000 USD
CY2015 us-gaap Current Foreign Tax Expense Benefit
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12500000 USD
CY2016 us-gaap Current Foreign Tax Expense Benefit
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11400000 USD
CY2014 us-gaap Current Income Tax Expense Benefit
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CY2015 us-gaap Current Income Tax Expense Benefit
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20400000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
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16500000 USD
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6600000 USD
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36600000 USD
CY2016Q4 us-gaap Debt Current
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63400000 USD
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6100000 USD
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4500000 USD
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13700000 USD
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15900000 USD
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33100000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
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19500000 USD
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11400000 USD
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55400000 USD
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26500000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
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44800000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
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45500000 USD
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CY2016Q4 us-gaap Deferred Tax Liabilities
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404800000 USD
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279000000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill
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284500000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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86800000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
99600000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Noncurrent
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CY2016Q4 us-gaap Deferred Tax Liabilities Noncurrent
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3600000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Other
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4700000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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286100000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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334600000 USD
CY2015Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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1226200000 USD
CY2016Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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1270000000 USD
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10400000 USD
CY2016Q4 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
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3000000 USD
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1600000 USD
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200000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
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1800000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components
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200000 USD
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1038900000 USD
CY2016Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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1115600000 USD
CY2016 us-gaap Defined Benefit Plan Target Plan Asset Allocations
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1
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1.000
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1.000
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28900000 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
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29000000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
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34700000 USD
CY2014 us-gaap Depreciation
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221600000 USD
CY2015 us-gaap Depreciation
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227600000 USD
CY2016 us-gaap Depreciation
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240000000 USD
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270000000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
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280500000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
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299300000 USD
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400000 USD
CY2016Q4 us-gaap Derivative Assets Current
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7000000 USD
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0 USD
CY2016Q4 us-gaap Derivative Assets Noncurrent
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700000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset
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400000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Asset
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7700000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Liability
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14200000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Liability
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800000 USD
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6900000 USD
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14200000 USD
CY2016Q4 us-gaap Derivative Liabilities Current
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800000 USD
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65500000 USD
CY2015 us-gaap Dividends
Dividends
66000000 USD
CY2016 us-gaap Dividends
Dividends
71700000 USD
CY2016 us-gaap Dividends
Dividends
72000000 USD
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16300000 USD
CY2016Q4 us-gaap Dividends Payable Current And Noncurrent
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23600000 USD
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0.27
CY2015Q1 us-gaap Earnings Per Share Basic
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0.17
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0.17
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0.18
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0.17
CY2015 us-gaap Earnings Per Share Basic
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0.70
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0.18
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0.24
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0.18
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0.11
CY2016 us-gaap Earnings Per Share Basic
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0.71
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0.27
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0.17
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0.17
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0.18
CY2015Q4 us-gaap Earnings Per Share Diluted
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0.17
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
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0.18
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0.24
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0.18
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0.11
CY2016 us-gaap Earnings Per Share Diluted
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0.71
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-5200000 USD
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-5200000 USD
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-1600000 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
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0.342
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.363
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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0.292
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.039
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.005
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.002
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.034
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.003
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.001
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.026
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.007
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.006
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.065
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
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0.035
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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1.00
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4700000 USD
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4800000 USD
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CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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CY2015 us-gaap Gross Profit
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4700000 USD
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359300000 USD
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319400000 USD
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1700000 USD
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1200000 USD
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1800000 USD
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5100000 USD
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CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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46400000 USD
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125800000 USD
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111800000 USD
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8600000 USD
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0 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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4700000 USD
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1300000 USD
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1700000 USD
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5900000 USD
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5500000 USD
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3500000 USD
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14500000 USD
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1200000 USD
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25500000 USD
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2100000 USD
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2700000 USD
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30500000 USD
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30400000 USD
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641400000 USD
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228000000 USD
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0 USD
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10200000 USD
CY2015 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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0 USD
CY2016 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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9400000 USD
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110000000 USD
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101600000 USD
CY2015 us-gaap Operating Income Loss
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427100000 USD
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107200000 USD
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105600000 USD
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105100000 USD
CY2016Q4 us-gaap Operating Income Loss
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78100000 USD
CY2016 us-gaap Operating Income Loss
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396000000 USD
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15800000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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17700000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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22600000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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35700000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2016Q4 us-gaap Other Accrued Liabilities Current
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30900000 USD
CY2016Q4 us-gaap Other Assets Current
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46100000 USD
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18900000 USD
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19600000 USD
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48400000 USD
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CY2015 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Loss Before Tax
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CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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21000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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8000000 USD
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CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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165800000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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105500000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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60300000 USD
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6000000 USD
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68100000 USD
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3700000 USD
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7700000 USD
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52200000 USD
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21100000 USD
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20300000 USD
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201400000 USD
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14300000 USD
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15200000 USD
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16000000 USD
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187100000 USD
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0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
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CY2016Q4 us-gaap Preferred Stock Value
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30500000 USD
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34100000 USD
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250000000 USD
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1200000000 USD
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3600000 USD
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170800000 USD
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0 USD
CY2016 us-gaap Proceeds From Sale Of Productive Assets
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25000000 USD
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CY2016 us-gaap Selling General And Administrative Expense
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13.60
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1200000 USD
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100000 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
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250000000 USD
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18000000 USD
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4600000 shares
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63000000 USD
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63000000 USD
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169000000 USD
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168800000 USD
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1012300000 USD
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1101700000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1056500000 USD
CY2016Q4 us-gaap Tax Credit Carryforward Amount
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35300000 USD
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5000000 USD
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1100000000 USD
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1300000000 USD
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17500000 USD
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5200000 USD
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9100000 USD
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10100000 USD
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100000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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1600000 USD
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600000 USD
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100000 USD
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800000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1500000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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3200000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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1100000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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10100000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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330500000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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330700000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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321500000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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328600000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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329500000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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320900000 shares
CY2015Q4 us-gaap Workers Compensation Liability Noncurrent
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11600000 USD
CY2016Q4 us-gaap Workers Compensation Liability Noncurrent
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10700000 USD
CY2014 us-gaap Write Off Of Deferred Debt Issuance Cost
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4600000 USD
CY2015 us-gaap Write Off Of Deferred Debt Issuance Cost
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0 USD
CY2016 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:115%;text-align:left;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:115%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:115%;text-align:justify;text-indent:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States (&#8220;U.S.&#160;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Actual results could differ from these estimates, and changes in these estimates are recorded when known. Estimates are used in accounting for, among other things, pension benefits, retained insurable risks, slow-moving and obsolete inventory, allowance for doubtful accounts, useful lives for depreciation and amortization, impairment testing of goodwill and long-term assets, fair values related to acquisition accounting, fair value of derivative financial instruments, deferred income tax assets and potential income tax assessments, and loss contingencies.</font></div></div>

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