2019 Q4 Form 10-K Financial Statement

#000143774920003706 Filed on February 27, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 2018 Q4
Revenue $579.0M $2.122B $329.0M
YoY Change 75.99% 95.76% 40.83%
Cost Of Revenue $349.0M $1.354B $159.7M
YoY Change 118.53% 127.03% 5.9%
Gross Profit $230.0M $768.0M $168.5M
YoY Change 36.5% 57.47% 103.5%
Gross Profit Margin 39.72% 36.19% 51.22%
Selling, General & Admin $21.00M $70.00M $10.80M
YoY Change 94.44% 71.15% 52.11%
% of Gross Profit 9.13% 9.11% 6.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.00M $80.00M $23.80M
YoY Change 143.7% 48.15% -6.3%
% of Gross Profit 25.22% 10.42% 14.12%
Operating Expenses $70.00M $1.644B $29.10M
YoY Change 140.55% 136.55% 8.18%
Operating Profit $180.0M $478.0M $151.0M
YoY Change 19.21% 22.88% 174.72%
Interest Expense -$54.00M -$227.0M -$32.40M
YoY Change 66.67% 112.95% 34.44%
% of Operating Profit -30.0% -47.49% -21.46%
Other Income/Expense, Net $0.00 $4.000M $3.300M
YoY Change -100.0% -33.33% 1000.0%
Pretax Income $126.0M $255.0M $121.5M
YoY Change 3.7% -11.46% 290.68%
Income Tax $32.00M $76.00M $33.20M
% Of Pretax Income 25.4% 29.8% 27.33%
Net Earnings $94.00M $179.0M $88.00M
YoY Change 6.82% -15.17% -46.85%
Net Earnings / Revenue 16.23% 8.44% 26.75%
Basic Earnings Per Share $0.82 $1.28 $1.01
Diluted Earnings Per Share $0.81 $1.27 $1.00
COMMON SHARES
Basic Shares Outstanding 99.00M
Diluted Shares Outstanding 100.0M

Balance Sheet

Concept 2019 Q4 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.0M $212.0M $667.0M
YoY Change -68.22% -68.22% 44.25%
Cash & Equivalents $212.0M $667.0M
Short-Term Investments
Other Short-Term Assets $49.00M $49.00M $22.20M
YoY Change 120.72% 120.72% -33.13%
Inventory
Prepaid Expenses
Receivables $411.0M $411.0M $184.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $672.0M $672.0M $873.0M
YoY Change -23.02% -23.0% 30.93%
LONG-TERM ASSETS
Property, Plant & Equipment $725.0M $777.0M $363.0M
YoY Change 99.72% 113.99% 3.52%
Goodwill $1.446B $612.0M
YoY Change 136.27% 0.16%
Intangibles
YoY Change
Long-Term Investments $17.00M $17.00M $16.60M
YoY Change 2.41% 2.41% 0.0%
Other Assets $29.00M $27.00M $13.00M
YoY Change 123.08% -96.47% 15.49%
Total Long-Term Assets $6.300B $6.300B $3.340B
YoY Change 88.62% 88.58% 28.75%
TOTAL ASSETS
Total Short-Term Assets $672.0M $672.0M $873.0M
Total Long-Term Assets $6.300B $6.300B $3.340B
Total Assets $6.972B $6.972B $4.213B
YoY Change 65.49% 65.47% 29.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.00M $11.00M $8.000M
YoY Change 37.5% 30.95% 2.04%
Accrued Expenses $32.00M $172.0M $18.00M
YoY Change 77.78% 58.09% 50.38%
Deferred Revenue $9.000M $4.000M
YoY Change 125.0% -0.1%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $246.0M $246.0M $150.0M
YoY Change 64.0% 63.56% 14.24%
LONG-TERM LIABILITIES
Long-Term Debt $3.697B $3.697B $2.549B
YoY Change 45.04% 45.03% 39.21%
Other Long-Term Liabilities $15.00M $105.0M $4.000M
YoY Change 275.0% 151.8% 117.51%
Total Long-Term Liabilities $3.712B $3.802B $2.553B
YoY Change 45.4% 46.74% 39.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $246.0M $246.0M $150.0M
Total Long-Term Liabilities $3.712B $3.802B $2.553B
Total Liabilities $4.858B $4.858B $3.026B
YoY Change 60.54% 60.53% 33.42%
SHAREHOLDERS EQUITY
Retained Earnings $504.0M $372.0M
YoY Change 35.48% 130.06%
Common Stock $907.1M
YoY Change 0.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $107.0M $72.00M
YoY Change 48.61% 45.27%
Treasury Stock Shares $9.088M $7.276M
Shareholders Equity $1.464B $2.114B $1.187B
YoY Change
Total Liabilities & Shareholders Equity $6.972B $6.972B $4.213B
YoY Change 65.49% 65.47% 29.2%

Cashflow Statement

Concept 2019 Q4 2019 2018 Q4
OPERATING ACTIVITIES
Net Income $94.00M $179.0M $88.00M
YoY Change 6.82% -15.17% -46.85%
Depreciation, Depletion And Amortization $58.00M $80.00M $23.80M
YoY Change 143.7% 48.15% -6.3%
Cash From Operating Activities $130.0M $385.0M $137.1M
YoY Change -5.18% 19.2% 108.68%
INVESTING ACTIVITIES
Capital Expenditures -$37.00M $110.0M -$35.10M
YoY Change 5.41% 57.14% 167.94%
Acquisitions $2.837B
YoY Change
Other Investing Activities $27.00M $6.000M $21.20M
YoY Change 27.36% -5400.0%
Cash From Investing Activities -$10.00M -$2.656B -$13.90M
YoY Change -28.06% 5551.06% 2.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.00M
YoY Change 68.42%
Debt Paid & Issued, Net $211.0M
YoY Change 427.5%
Cash From Financing Activities -234.0M $1.064B 744.8M
YoY Change -131.42% 56.24% 213.86%
NET CHANGE
Cash From Operating Activities 130.0M $385.0M 137.1M
Cash From Investing Activities -10.00M -$2.656B -13.90M
Cash From Financing Activities -234.0M $1.064B 744.8M
Net Change In Cash -114.0M -$1.207B 868.0M
YoY Change -113.13% -688.78% 199.83%
FREE CASH FLOW
Cash From Operating Activities $130.0M $385.0M $137.1M
Capital Expenditures -$37.00M $110.0M -$35.10M
Free Cash Flow $167.0M $275.0M $172.2M
YoY Change -3.02% 8.7% 118.53%

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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-4000000 USD
CY2019 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
169000000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
212000000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
258000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
493000000 USD
CY2017 gtn Impact Of Adoption Of Accounting Standard Update
ImpactOfAdoptionOfAccountingStandardUpdate
1000000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
262000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-4000000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
239000000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
0 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4000000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
9000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
994000000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
210000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
1000000 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
1000000 USD
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
19000000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1187000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1187000000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
179000000 USD
CY2019 us-gaap Dividends Preferred Stock
DividendsPreferredStock
52000000 USD
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
5000000 USD
CY2019 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
170000000 USD
CY2019 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
4000000 USD
CY2019 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-3000000 USD
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
32000000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16000000 USD
CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect
0 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1464000000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
179000000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
211000000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
262000000 USD
CY2019 us-gaap Depreciation
Depreciation
80000000 USD
CY2018 us-gaap Depreciation
Depreciation
54000000 USD
CY2017 us-gaap Depreciation
Depreciation
52000000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
115000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21000000 USD
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000000 USD
CY2019 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
12000000 USD
CY2018 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5000000 USD
CY2017 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5000000 USD
CY2019 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-1000000 USD
CY2018 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-1000000 USD
CY2017 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-1000000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
16000000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
7000000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
9000000 USD
CY2019 gtn Amortization Of Program Broadcast Rights
AmortizationOfProgramBroadcastRights
39000000 USD
CY2018 gtn Amortization Of Program Broadcast Rights
AmortizationOfProgramBroadcastRights
21000000 USD
CY2017 gtn Amortization Of Program Broadcast Rights
AmortizationOfProgramBroadcastRights
21000000 USD
CY2019 gtn Payments On Program Broadcast Obligations
PaymentsOnProgramBroadcastObligations
43000000 USD
CY2018 gtn Payments On Program Broadcast Obligations
PaymentsOnProgramBroadcastObligations
22000000 USD
CY2017 gtn Payments On Program Broadcast Obligations
PaymentsOnProgramBroadcastObligations
21000000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
55000000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
23000000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-78000000 USD
CY2019 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
54000000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
17000000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
74000000 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3000000 USD
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-11000000 USD
CY2018 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5000000 USD
CY2017 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3000000 USD
CY2019 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-22000000 USD
CY2018 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
12000000 USD
CY2017 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
24000000 USD
CY2019 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-0 USD
CY2018 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-14000000 USD
CY2017 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-1000000 USD
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
7000000 USD
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3000000 USD
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1000000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1000000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1000000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2000000 USD
CY2019 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
3000000 USD
CY2018 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
5000000 USD
CY2017 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2000000 USD
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-41000000 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
7000000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3000000 USD
CY2019 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
3000000 USD
CY2018 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
8000000 USD
CY2017 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-6000000 USD
CY2019 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-6000000 USD
CY2018 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
6000000 USD
CY2017 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
6000000 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3000000 USD
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
0 USD
CY2017 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1000000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
385000000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
323000000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
180000000 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2837000000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-0 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
416000000 USD
CY2019 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
253000000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35000000 USD
CY2019 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
41000000 USD
CY2018 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
14000000 USD
CY2018 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
9000000 USD
CY2017 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
CY2019 gtn Proceeds From Spectrum Auction
ProceedsFromSpectrumAuction
0 USD
CY2018 gtn Proceeds From Spectrum Auction
ProceedsFromSpectrumAuction
0 USD
CY2017 gtn Proceeds From Spectrum Auction
ProceedsFromSpectrumAuction
91000000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110000000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
70000000 USD
CY2017 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
0 USD
CY2019 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
3000000 USD
CY2018 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
0 USD
CY2017 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
0 USD
CY2019 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
6000000 USD
CY2018 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-0 USD
CY2017 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-10000000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2656000000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47000000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-350000000 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1400000000 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
750000000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
642000000 USD
CY2019 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
211000000 USD
CY2018 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
40000000 USD
CY2017 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
563000000 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
32000000 USD
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19000000 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4000000 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
239000000 USD
CY2019 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
39000000 USD
CY2018 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
-0 USD
CY2017 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
-0 USD
CY2019 gtn Increase Decrease In Deferred And Other Loan Costs
IncreaseDecreaseInDeferredAndOtherLoanCosts
50000000 USD
CY2018 gtn Increase Decrease In Deferred And Other Loan Costs
IncreaseDecreaseInDeferredAndOtherLoanCosts
5000000 USD
CY2017 gtn Increase Decrease In Deferred And Other Loan Costs
IncreaseDecreaseInDeferredAndOtherLoanCosts
5000000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4000000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5000000 USD
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2000000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1064000000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
681000000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
307000000 USD
CY2019 gtn Cash And Cash Equivalents Period Increase Decrease Excluding Change In Restricted Cash
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingChangeInRestrictedCash
-1207000000 USD
CY2018 gtn Cash And Cash Equivalents Period Increase Decrease Excluding Change In Restricted Cash
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingChangeInRestrictedCash
205000000 USD
CY2017 gtn Cash And Cash Equivalents Period Increase Decrease Excluding Change In Restricted Cash
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingChangeInRestrictedCash
137000000 USD
CY2019 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2018 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
752000000 USD
CY2017 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1419000000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
462000000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
325000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
212000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1419000000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
462000000 USD
CY2019 gtn Period For Creating Allowance For Doubtful Accounts
PeriodForCreatingAllowanceForDoubtfulAccounts
P120D
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11000000 USD
CY2019 gtn Advertising Barter Transactions Trade Revenue
AdvertisingBarterTransactionsTradeRevenue
8000 USD
CY2018 gtn Advertising Barter Transactions Trade Revenue
AdvertisingBarterTransactionsTradeRevenue
3000 USD
CY2017 gtn Advertising Barter Transactions Trade Revenue
AdvertisingBarterTransactionsTradeRevenue
2000 USD
CY2019 gtn Advertising Barter Transactions Trade Expense
AdvertisingBarterTransactionsTradeExpense
8000 USD
CY2018 gtn Advertising Barter Transactions Trade Expense
AdvertisingBarterTransactionsTradeExpense
3000 USD
CY2017 gtn Advertising Barter Transactions Trade Expense
AdvertisingBarterTransactionsTradeExpense
2000 USD
CY2019 gtn Advertising Barter Transactions Net Trade Income Loss
AdvertisingBarterTransactionsNetTradeIncomeLoss
0 USD
CY2018 gtn Advertising Barter Transactions Net Trade Income Loss
AdvertisingBarterTransactionsNetTradeIncomeLoss
0 USD
CY2017 gtn Advertising Barter Transactions Net Trade Income Loss
AdvertisingBarterTransactionsNetTradeIncomeLoss
0 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
2000000 USD
CY2018 us-gaap Advertising Expense
AdvertisingExpense
1000000 USD
CY2017 us-gaap Advertising Expense
AdvertisingExpense
2000000 USD
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 27pt;"><i>Use of Estimates</i><i>. </i>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“UNITED STATES GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Our actual results could differ materially from these estimated amounts. Our most significant estimates are our allowance for doubtful accounts in receivables, valuation of goodwill and intangible assets, amortization of program rights and intangible assets, pension costs, income taxes, employee medical insurance claims, useful lives of property and equipment and contingencies.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:22.3pt;"> </p>
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2000000 USD
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1186000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
766000000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
461000000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
403000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
725000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
363000000 USD
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
253000000 USD
CY2018 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000000 USD
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
91000000 USD
CY2019 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
41000000 USD
CY2018 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
14000000 USD
CY2017 gtn Proceeds From Fcc Repack
ProceedsFromFCCRepack
0 USD
CY2019 gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
240000000 USD
CY2018 gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
6000000 USD
CY2017 gtn Net Book Value Of Assets Disposed
NetBookValueOfAssetsDisposed
17000000 USD
CY2019 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
54000000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
17000000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
74000000 USD
CY2019 gtn Payments For Recurring Purchases For Operations
PaymentsForRecurringPurchasesForOperations
89000000 USD
CY2018 gtn Payments For Recurring Purchases For Operations
PaymentsForRecurringPurchasesForOperations
41000000 USD
CY2017 gtn Payments For Recurring Purchases For Operations
PaymentsForRecurringPurchasesForOperations
32000000 USD
CY2019 gtn Payments To Acquire Broadcasting Equipment
PaymentsToAcquireBroadcastingEquipment
20000000 USD
CY2018 gtn Payments To Acquire Broadcasting Equipment
PaymentsToAcquireBroadcastingEquipment
27000000 USD
CY2017 gtn Payments To Acquire Broadcasting Equipment
PaymentsToAcquireBroadcastingEquipment
3000000 USD
CY2019 gtn Payments To Acquire Broadcasting Equipment Related Parties
PaymentsToAcquireBroadcastingEquipmentRelatedParties
1000000 USD
CY2018 gtn Payments To Acquire Broadcasting Equipment Related Parties
PaymentsToAcquireBroadcastingEquipmentRelatedParties
2000000 USD
CY2017 gtn Payments To Acquire Broadcasting Equipment Related Parties
PaymentsToAcquireBroadcastingEquipmentRelatedParties
0 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110000000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
70000000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35000000 USD
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2000000 USD
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1000000 USD
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 27pt;"><i>Concentration of Credit Risk</i><i>. </i>We sell advertising air-time on our broadcasts and advertising space on our websites to national and local advertisers within the geographic areas in which we operate. Credit is extended based on an evaluation of the customer’s financial condition, and generally advance payment is <em style="font-weight: inherit; font-style: normal;">not</em> required, except for political advertising. Credit losses are provided for in the financial statements and consistently have been within our expectations that are based upon our prior experience.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i> </i></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 27pt;">Excluding political advertising revenue, which is cyclical based on election cycles, our most significant category of customer is automotive. During the years ended <em style="font-weight: inherit; font-style: normal;"> December 31, 2019, </em><em style="font-weight: inherit; font-style: normal;">2018</em> and <em style="font-weight: inherit; font-style: normal;">2017</em> approximately 25% of our broadcast advertising revenue was obtained from advertising sales to automotive customers. Although our revenues can be affected by changes within our customer base, we believe this risk is in part mitigated due to the fact that <em style="font-weight: inherit; font-style: normal;">no</em> <em style="font-weight: inherit; font-style: normal;">one</em> customer accounted for in excess of <em style="font-weight: inherit; font-style: normal;">5%</em> of our broadcast advertising revenue in any of these periods. Furthermore, we believe that our large geographic operating area partially mitigates the potential effect of regional economic impacts.</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:22.3pt;"> </p>
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99000000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73000000
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100000000
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CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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42000000 USD
CY2018Q4 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Before Tax
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35000000 USD
CY2019Q4 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax
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11000000 USD
CY2018Q4 gtn Pension And Other Postretirement Benefit Plans Accumulated Other Comprehensive Income Loss Minimum Pension Liability Tax
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14000000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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3000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2122000000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1084000000 USD
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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883000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2122000000 USD
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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883000000 USD
CY2019 us-gaap Business Combination Acquisition Related Costs
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79000000 USD
CY2018 us-gaap Business Combination Acquisition Related Costs
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11000000 USD
CY2019 us-gaap Business Combination Acquisition Related Costs
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79000000 USD
CY2018 us-gaap Business Combination Acquisition Related Costs
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11000000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
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CY2018Q4 us-gaap Debt Instrument Carrying Amount
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CY2019Q4 us-gaap Long Term Debt
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CY2018Q4 us-gaap Long Term Debt
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CY2018Q4 us-gaap Long Term Debt Current
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CY2019Q4 us-gaap Long Term Debt Noncurrent
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3697000000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
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CY2019Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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200000000 USD
CY2018Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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100000000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
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CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2019Q4 gtn Longterm Debt Maturities Repayments Of Principal In Year Six
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1120000000 USD
CY2019Q4 gtn Longterm Debt Maturities Repayments Of Principal After Year Six
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2640000000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
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3760000000 USD
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CY2018 us-gaap Interest Paid Net
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95000000 USD
us-gaap Interest Paid Net
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97000000 USD
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
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18000000 USD
CY2019Q4 us-gaap Operating Lease Liability
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51000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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9000000 USD
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9000000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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8000000 USD
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0.0700 pure
CY2019Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.0314 pure
CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.0416 pure
CY2019Q4 us-gaap Long Term Debt
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3700000000 USD
CY2019Q4 us-gaap Long Term Debt Fair Value
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3900000000 USD
CY2018Q4 us-gaap Long Term Debt
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2500000000 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
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2400000000 USD
CY2019Q4 us-gaap Capital Units Authorized
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245000000
CY2019Q4 us-gaap Common Stock Shares Authorized
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200000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
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20000000
CY2019Q4 gtn Common Stock Voting Rights Votes Per Share
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1 pure
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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6130944
CY2018Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2019 us-gaap Allocated Share Based Compensation Expense
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CY2018 us-gaap Allocated Share Based Compensation Expense
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7000000 USD
CY2017 us-gaap Allocated Share Based Compensation Expense
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8000000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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5000000 USD
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P1Y7M6D
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CY2019 us-gaap Current Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
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CY2018Q4 us-gaap Deferred Income Tax Liabilities
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CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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1000000 USD
CY2017 us-gaap Increase Decrease In Pension Plan Obligations
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3000000 USD
CY2019 us-gaap Income Taxes Paid Net
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CY2018 us-gaap Income Taxes Paid Net
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CY2017 us-gaap Income Taxes Paid Net
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2019 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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CY2019 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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