2018 Q2 Form 10-Q Financial Statement

#000140807518000037 Filed on July 24, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $1.511B $1.095B
YoY Change 38.02% -0.77%
Cost Of Revenue $1.273B $920.9M
YoY Change 38.28% 2.5%
Gross Profit $237.5M $176.9M
YoY Change 34.26% -13.62%
Gross Profit Margin 15.72% 16.16%
Selling, General & Admin $116.1M $84.30M
YoY Change 37.72% -9.06%
% of Gross Profit 48.88% 47.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.3M $75.20M
YoY Change 48.01% 0.0%
% of Gross Profit 46.86% 42.51%
Operating Expenses $116.1M $84.30M
YoY Change 37.72% -9.06%
Operating Profit $110.3M $83.80M
YoY Change 31.62% -20.64%
Interest Expense $30.30M $22.50M
YoY Change 34.67% 23.63%
% of Operating Profit 27.47% 26.85%
Other Income/Expense, Net $4.100M $3.800M
YoY Change 7.89%
Pretax Income $84.10M $65.10M
YoY Change 29.19% -25.51%
Income Tax $18.50M $23.60M
% Of Pretax Income 22.0% 36.25%
Net Earnings $49.40M $42.00M
YoY Change 17.62% -46.02%
Net Earnings / Revenue 3.27% 3.84%
Basic Earnings Per Share $0.16 $0.14
Diluted Earnings Per Share $0.16 $0.14
COMMON SHARES
Basic Shares Outstanding 310.7M shares 310.7M shares
Diluted Shares Outstanding 311.3M shares 311.1M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.90M $12.50M
YoY Change 307.2% -67.7%
Cash & Equivalents $50.90M $12.50M
Short-Term Investments
Other Short-Term Assets $74.40M $45.70M
YoY Change 62.8% 16.58%
Inventory $989.9M $600.2M
Prepaid Expenses
Receivables $701.2M $493.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.816B $1.152B
YoY Change 57.67% -1.45%
LONG-TERM ASSETS
Property, Plant & Equipment $3.115B $1.814B
YoY Change 71.76% 3.81%
Goodwill $1.558B $1.266B
YoY Change 23.02% -0.11%
Intangibles $507.5M $423.7M
YoY Change 19.78% -13.18%
Long-Term Investments
YoY Change
Other Assets $82.60M $35.80M
YoY Change 130.73% -25.88%
Total Long-Term Assets $5.263B $3.539B
YoY Change 48.69% -0.33%
TOTAL ASSETS
Total Short-Term Assets $1.816B $1.152B
Total Long-Term Assets $5.263B $3.539B
Total Assets $7.079B $4.691B
YoY Change 50.9% -0.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $629.4M $465.3M
YoY Change 35.27% 10.26%
Accrued Expenses $345.4M $256.5M
YoY Change 34.66% 5.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $51.50M $47.50M
YoY Change 8.42% -23.14%
Total Short-Term Liabilities $1.026B $769.3M
YoY Change 33.41% 5.92%
LONG-TERM LIABILITIES
Long-Term Debt $2.924B $2.166B
YoY Change 35.03% -2.13%
Other Long-Term Liabilities $150.8M $73.50M
YoY Change 105.17% 4.4%
Total Long-Term Liabilities $3.075B $2.239B
YoY Change 37.33% -1.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.026B $769.3M
Total Long-Term Liabilities $3.075B $2.239B
Total Liabilities $4.101B $3.009B
YoY Change 36.33% -0.04%
SHAREHOLDERS EQUITY
Retained Earnings -$23.30M -$229.5M
YoY Change -89.85% -15.41%
Common Stock $2.078B $1.677B
YoY Change 23.89% -3.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.713B $1.097B
YoY Change
Total Liabilities & Shareholders Equity $7.079B $4.691B
YoY Change 50.9% -0.61%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $49.40M $42.00M
YoY Change 17.62% -46.02%
Depreciation, Depletion And Amortization $111.3M $75.20M
YoY Change 48.01% 0.0%
Cash From Operating Activities -$110.1M -$12.20M
YoY Change 802.46% -106.47%
INVESTING ACTIVITIES
Capital Expenditures -$81.30M -$68.40M
YoY Change 18.86% -17.59%
Acquisitions
YoY Change
Other Investing Activities $334.3M $147.8M
YoY Change 126.18% -453.59%
Cash From Investing Activities $253.0M $79.40M
YoY Change 218.64% -163.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -142.5M -92.50M
YoY Change 54.05% -7.31%
NET CHANGE
Cash From Operating Activities -110.1M -12.20M
Cash From Investing Activities 253.0M 79.40M
Cash From Financing Activities -142.5M -92.50M
Net Change In Cash 400.0K -25.30M
YoY Change -101.58% -29.72%
FREE CASH FLOW
Cash From Operating Activities -$110.1M -$12.20M
Capital Expenditures -$81.30M -$68.40M
Free Cash Flow -$28.80M $56.20M
YoY Change -151.25% -79.31%

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0.14
us-gaap Earnings Per Share Basic
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0.25
CY2018Q2 us-gaap Earnings Per Share Basic
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0.16
us-gaap Earnings Per Share Basic
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0.26
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0.14
us-gaap Earnings Per Share Diluted
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0.25
CY2018Q2 us-gaap Earnings Per Share Diluted
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0.16
us-gaap Earnings Per Share Diluted
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0.25
CY2017Q4 us-gaap Employee Related Liabilities Current
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113400000 USD
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150000000 USD
CY2017Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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0 USD
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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0 USD
CY2018Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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0 USD
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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1500000 USD
CY2017Q2 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2018Q2 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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CY2017Q4 us-gaap Goodwill
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CY2018Q2 us-gaap Goodwill
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1557900000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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65100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
119300000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
84100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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131600000 USD
CY2017Q2 us-gaap Income Loss From Equity Method Investments
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500000 USD
us-gaap Income Loss From Equity Method Investments
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900000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
400000 USD
us-gaap Income Loss From Equity Method Investments
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700000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
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23600000 USD
us-gaap Income Tax Expense Benefit
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41200000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
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18500000 USD
us-gaap Income Tax Expense Benefit
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23600000 USD
us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Increase Decrease In Operating Capital
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343900000 USD
us-gaap Increase Decrease In Operating Capital
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658700000 USD
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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700000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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700000 shares
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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436500000 USD
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
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507500000 USD
CY2017Q2 us-gaap Interest Expense
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22500000 USD
us-gaap Interest Expense
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43800000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
30300000 USD
us-gaap Interest Expense
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59100000 USD
CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
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240500000 USD
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408600000 USD
CY2017Q4 us-gaap Inventory Net
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634000000 USD
CY2018Q2 us-gaap Inventory Net
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989900000 USD
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229400000 USD
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
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318600000 USD
CY2017Q4 us-gaap Inventory Supplies Net Of Reserves
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90000000 USD
CY2018Q2 us-gaap Inventory Supplies Net Of Reserves
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156100000 USD
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
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74100000 USD
CY2018Q2 us-gaap Inventory Work In Process Net Of Reserves
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106600000 USD
CY2018Q2 us-gaap Letters Of Credit Outstanding Amount
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27000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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4863000000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
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7079300000 USD
CY2017Q4 us-gaap Liabilities Current
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851400000 USD
CY2018Q2 us-gaap Liabilities Current
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1026300000 USD
CY2018Q2 us-gaap Line Of Credit
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530800000 USD
CY2018Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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1699200000 USD
CY2018Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2017Q4 us-gaap Long Term Debt
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2247900000 USD
CY2018Q2 us-gaap Long Term Debt
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CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
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2213200000 USD
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations
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2924300000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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52200000 USD
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
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38500000 USD
CY2017Q4 us-gaap Long Term Debt Fair Value
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CY2018Q2 us-gaap Long Term Debt Fair Value
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2929000000 USD
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2213200000 USD
CY2018Q2 us-gaap Long Term Debt Noncurrent
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2924300000 USD
CY2017Q4 us-gaap Minority Interest
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455900000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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9400000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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122200000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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299700000 USD
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42000000 USD
us-gaap Net Income Loss
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79000000 USD
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49400000 USD
us-gaap Net Income Loss
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79300000 USD
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CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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16600000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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29400000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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12800000 USD
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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22700000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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3800000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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6700000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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102000000 USD
CY2018Q2 us-gaap Number Of Real Estate Properties
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8 paperboard_mill
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83800000 USD
us-gaap Operating Income Loss
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155400000 USD
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110300000 USD
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1900000 USD
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45700000 USD
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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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2000000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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1400000 USD
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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17200000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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36100000 USD
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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1700000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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33700000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Dividends
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46900000 USD
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52500000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Acquire Machinery And Equipment
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8700000 USD
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6100000 USD
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135800000 USD
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167300000 USD
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80000000 USD
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75400000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2017Q4 us-gaap Preferred Stock Shares Issued
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0 shares
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0 shares
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0 shares
CY2017Q4 us-gaap Preferred Stock Value
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CY2017Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2018Q2 us-gaap Profit Loss
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66000000 USD
us-gaap Profit Loss
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134100000 USD
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2145800000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2977000000 USD
CY2017Q2 us-gaap Revenues
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us-gaap Revenues
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CY2018Q2 us-gaap Revenues
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1509300000 USD
us-gaap Revenues
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2985300000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
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84300000 USD
us-gaap Selling General And Administrative Expense
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176200000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
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114500000 USD
us-gaap Selling General And Administrative Expense
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235800000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
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1000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
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600000 shares
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us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Value
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4100000 USD
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1291900000 USD
CY2018Q2 us-gaap Stockholders Equity
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1291900000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2168400000 USD
us-gaap Temporary Equity Net Income
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CY2018Q2 us-gaap Temporary Equity Shares Outstanding
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CY2017Q2 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
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CY2018Q2 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
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CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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312500000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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311300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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311300000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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310700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
311800000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
310700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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310600000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:100%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from those estimates and changes in these estimates are recorded when known.</font></div></div>

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gpk-20180630.xml Edgar Link completed
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