2019 Q1 Form 10-Q Financial Statement
#000141739819000019 Filed on May 01, 2019
Income Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
Revenue | $464.6M | $452.2M |
YoY Change | 2.74% | 14.39% |
Cost Of Revenue | $303.7M | $283.6M |
YoY Change | 7.09% | 14.96% |
Gross Profit | $160.9M | $168.6M |
YoY Change | -4.57% | 13.46% |
Gross Profit Margin | 34.63% | 37.28% |
Selling, General & Admin | ||
YoY Change | ||
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $15.10M | $14.00M |
YoY Change | 7.86% | 2.94% |
% of Gross Profit | 9.38% | 8.3% |
Operating Expenses | $93.70M | $98.30M |
YoY Change | -4.68% | 14.84% |
Operating Profit | $67.20M | $70.30M |
YoY Change | -4.41% | 11.59% |
Interest Expense | $5.400M | $6.000M |
YoY Change | -10.0% | -4.76% |
% of Operating Profit | 8.04% | 8.53% |
Other Income/Expense, Net | $100.0K | -$1.100M |
YoY Change | -109.09% | 83.33% |
Pretax Income | $53.30M | -$7.700M |
YoY Change | -792.21% | -115.75% |
Income Tax | $13.80M | $13.60M |
% Of Pretax Income | 25.89% | |
Net Earnings | $38.00M | -$21.90M |
YoY Change | -273.52% | -164.41% |
Net Earnings / Revenue | 8.18% | -4.84% |
Basic Earnings Per Share | $0.60 | -$0.34 |
Diluted Earnings Per Share | $0.60 | -$0.34 |
COMMON SHARES | ||
Basic Shares Outstanding | 62.90M shares | 63.30M shares |
Diluted Shares Outstanding | 63.40M shares | 63.30M shares |
Balance Sheet
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $58.60M | $68.00M |
YoY Change | -13.82% | 32.3% |
Cash & Equivalents | $58.60M | $68.50M |
Short-Term Investments | ||
Other Short-Term Assets | $20.40M | $23.20M |
YoY Change | -12.07% | 16.0% |
Inventory | $183.0M | $180.6M |
Prepaid Expenses | $24.10M | $34.30M |
Receivables | $364.3M | $374.1M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $650.4M | $680.7M |
YoY Change | -4.45% | 17.89% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $137.6M | $146.1M |
YoY Change | -5.82% | 0.48% |
Goodwill | $583.0M | $602.6M |
YoY Change | -3.25% | -2.81% |
Intangibles | $477.3M | $517.8M |
YoY Change | -7.82% | 0.31% |
Long-Term Investments | ||
YoY Change | ||
Other Assets | $37.20M | $42.20M |
YoY Change | -11.85% | 23.39% |
Total Long-Term Assets | $1.235B | $1.309B |
YoY Change | -5.62% | -0.54% |
TOTAL ASSETS | ||
Total Short-Term Assets | $650.4M | $680.7M |
Total Long-Term Assets | $1.235B | $1.309B |
Total Assets | $1.886B | $1.989B |
YoY Change | -5.22% | 5.08% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $207.7M | $175.2M |
YoY Change | 18.55% | 32.43% |
Accrued Expenses | $180.6M | $221.6M |
YoY Change | -18.5% | 57.05% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $700.0K | |
YoY Change | -95.68% | |
Total Short-Term Liabilities | $505.8M | $530.8M |
YoY Change | -4.71% | 29.75% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $361.7M | $478.4M |
YoY Change | -24.39% | -21.11% |
Other Long-Term Liabilities | $53.90M | $56.20M |
YoY Change | -4.09% | 103.62% |
Total Long-Term Liabilities | $415.6M | $534.6M |
YoY Change | -22.26% | -15.68% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $505.8M | $530.8M |
Total Long-Term Liabilities | $415.6M | $534.6M |
Total Liabilities | $1.115B | $1.257B |
YoY Change | -11.29% | 2.95% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $571.1M | $476.9M |
YoY Change | 19.75% | 3.25% |
Common Stock | $343.1M | $346.4M |
YoY Change | -0.95% | -0.06% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $55.60M | $48.00M |
YoY Change | 15.83% | 158.06% |
Treasury Stock Shares | 1.300M shares | 1.200M shares |
Shareholders Equity | $756.8M | $716.8M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.886B | $1.989B |
YoY Change | -5.22% | 5.08% |
Cashflow Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $38.00M | -$21.90M |
YoY Change | -273.52% | -164.41% |
Depreciation, Depletion And Amortization | $15.10M | $14.00M |
YoY Change | 7.86% | 2.94% |
Cash From Operating Activities | $11.00M | $34.60M |
YoY Change | -68.21% | -49.49% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$4.700M | -$5.000M |
YoY Change | -6.0% | 11.11% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $100.0K | $100.0K |
YoY Change | 0.0% | -95.0% |
Cash From Investing Activities | -$4.600M | -$4.900M |
YoY Change | -6.12% | 96.0% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -14.10M | -37.80M |
YoY Change | -62.7% | -39.33% |
NET CHANGE | ||
Cash From Operating Activities | 11.00M | 34.60M |
Cash From Investing Activities | -4.600M | -4.900M |
Cash From Financing Activities | -14.10M | -37.80M |
Net Change In Cash | -7.700M | -8.100M |
YoY Change | -4.94% | -318.92% |
FREE CASH FLOW | ||
Cash From Operating Activities | $11.00M | $34.60M |
Capital Expenditures | -$4.700M | -$5.000M |
Free Cash Flow | $15.70M | $39.60M |
YoY Change | -60.35% | -45.75% |
Facts In Submission
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Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
5600000 | USD | |
CY2019Q1 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
2900000 | USD |
us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
5700000 | USD | |
CY2018Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
14000000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
27800000 | USD | |
CY2019Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
15100000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
29200000 | USD | |
CY2018Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
13900000 | USD |
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
26900000 | USD | |
CY2019Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
14200000 | USD |
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
28300000 | USD | |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.34 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | ||
CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.60 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.05 | ||
CY2018Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.34 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | ||
CY2019Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.60 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.05 | ||
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
1700000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
2100000 | USD | |
CY2018Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-1.766 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
1.063 | ||
CY2019Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.259 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.292 | ||
CY2018Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
71900000 | USD |
CY2019Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
55500000 | USD |
CY2018Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1000000 | USD |
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1600000 | USD | |
CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
900000 | USD |
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1300000 | USD | |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
242800000 | USD |
CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
258600000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
602500000 | USD |
CY2019Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
608900000 | USD |
CY2018Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-500000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-800000 | USD | |
CY2019Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
100000 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
500000 | USD | |
CY2018Q3 | us-gaap |
Goodwill
Goodwill
|
581900000 | USD |
CY2019Q1 | us-gaap |
Goodwill
Goodwill
|
583000000 | USD |
CY2019Q1 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
-8000000 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
58800000.0 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
35100000 | USD | |
CY2018Q1 | us-gaap |
Gross Profit
GrossProfit
|
168600000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
314800000 | USD | |
CY2019Q1 | us-gaap |
Gross Profit
GrossProfit
|
160900000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
307900000 | USD | |
us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
4600000.0 | USD | |
CY2018Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-7700000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
35100000 | USD | |
CY2019Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
53300000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
96800000 | USD | |
CY2018Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-7700000 | USD |
CY2019Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
53300000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
96800000 | USD | |
CY2018Q1 | us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
0 | USD |
us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
0 | USD | |
CY2019Q1 | us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
0 | USD |
us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
-100000 | USD | |
CY2018Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
13600000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
37300000 | USD | |
CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
13800000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
28300000 | USD | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
34200000 | USD | |
us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
24800000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
12800000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
12700000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
26500000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-12800000 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
3.0 | USD | |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
10400000 | USD | |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-8700000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
25600000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
12100000 | USD | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
10300000 | USD | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-24600000 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
10700000 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
800000 | USD | |
CY2018Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2019Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
500000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
500000 | shares | |
CY2018Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
487300000 | USD |
CY2019Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
477300000 | USD |
CY2018Q1 | us-gaap |
Interest Expense
InterestExpense
|
6000000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
12300000 | USD | |
CY2019Q1 | us-gaap |
Interest Expense
InterestExpense
|
5400000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
10900000 | USD | |
CY2018Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
59500000 | USD |
CY2019Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
62200000 | USD |
CY2018Q3 | us-gaap |
Inventory Net
InventoryNet
|
172500000 | USD |
CY2019Q1 | us-gaap |
Inventory Net
InventoryNet
|
183000000 | USD |
CY2018Q4 | us-gaap |
Inventory Net
InventoryNet
|
170900000 | USD |
CY2018Q3 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
68300000 | USD |
CY2019Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
71300000 | USD |
CY2018Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
44700000 | USD |
CY2019Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
49500000 | USD |
CY2018Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
300000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
800000 | USD | |
CY2019Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
200000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
400000 | USD | |
CY2019Q1 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
CY2018Q3 | us-gaap |
Liabilities
Liabilities
|
1120500000 | USD |
CY2019Q1 | us-gaap |
Liabilities
Liabilities
|
1115400000 | USD |
CY2018Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1864600000 | USD |
CY2019Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1885500000 | USD |
CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
531700000 | USD |
CY2019Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
505800000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
344600000 | USD |
CY2019Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
363400000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
344600000 | USD |
CY2019Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
361700000 | USD |
us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
38500000 | GBP | |
CY2018Q3 | us-gaap |
Minority Interest
MinorityInterest
|
13000000 | USD |
CY2019Q1 | us-gaap |
Minority Interest
MinorityInterest
|
13300000 | USD |
CY2019Q1 | us-gaap |
Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
|
1 | |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
2300000 | USD | |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
2900000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-50400000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-11300000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-10500000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-34400000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
61500000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
46500000 | USD | |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-21900000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3800000 | USD | |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
38000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
66300000 | USD | |
CY2018Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
600000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1600000 | USD | |
CY2019Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1500000 | USD |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
2200000 | USD | |
CY2018Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-21900000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3800000 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
66300000 | USD | |
us-gaap |
New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
|
200000 | USD | |
CY2019Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
38000000 | USD |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment | |
CY2018Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
98300000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
187400000 | USD | |
CY2019Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
93700000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
184400000 | USD | |
CY2018Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
18100000 | USD |
CY2019Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
20400000 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
42800000 | USD |
CY2019Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
37200000 | USD |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
|
21800000 | USD | |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
|
-20500000 | USD | |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
21600000 | USD | |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
-17900000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
500000 | USD |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
300000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-3200000 | USD |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
-8400000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-100000 | USD |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
-100000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
900000 | USD |
us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
|
2600000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
14700000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
21000000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-4600000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-9500000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
15900000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
22700000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-7500000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-17400000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-700000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-1400000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-300000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-500000 | USD | |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-400000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-700000 | USD | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-100000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
-200000 | USD | |
us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
200000 | USD | |
us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
-2600000 | USD | |
CY2018Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
137100000 | USD |
CY2019Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
117500000 | USD |
CY2018Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
47300000 | USD |
CY2019Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
53900000 | USD |
us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
5600000 | USD | |
us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
4600000 | USD | |
us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
2300000 | USD | |
us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
1700000 | USD | |
CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
100000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
600000 | USD | |
CY2018Q3 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
120500000 | USD |
CY2018Q3 | us-gaap |
Other Long Term Debt Current
OtherLongTermDebtCurrent
|
0 | USD |
CY2019Q1 | us-gaap |
Other Long Term Debt Current
OtherLongTermDebtCurrent
|
1700000 | USD |
CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1100000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1500000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
38900000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
26200000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
26200000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
4100000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
4200000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
26200000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
10600000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
8300000 | USD | |
CY2019Q1 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
114600000 | USD |
CY2018Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
25200000 | USD |
CY2019Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
24100000 | USD |
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
701800000 | USD | |
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
342000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-1000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-500000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
9300000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1400000 | USD | |
CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-21300000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
-2200000 | USD | |
CY2019Q1 | us-gaap |
Profit Loss
ProfitLoss
|
39500000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
68500000 | USD | |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
142000000 | USD |
CY2019Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
137600000 | USD |
CY2018Q3 | us-gaap |
Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
|
120300000 | USD |
CY2019Q1 | us-gaap |
Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
|
164800000 | USD |
CY2018Q4 | us-gaap |
Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
|
122200000 | USD |
us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1100000 | USD | |
us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-500000 | USD | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
542800000 | USD | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
323800000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
148500000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD | |
CY2018Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
500000 | USD |
CY2018Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
500000.0 | USD |
CY2019Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
800000 | USD |
CY2018Q1 | us-gaap |
Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
|
800000 | USD |
us-gaap |
Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
|
900000 | USD | |
CY2019Q1 | us-gaap |
Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
|
700000 | USD |
us-gaap |
Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
|
1200000 | USD | |
CY2018Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
700000 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
1200000 | USD | |
CY2019Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
700000 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
1200000 | USD | |
CY2019Q1 | us-gaap |
Restructuring Reserve Current
RestructuringReserveCurrent
|
700000 | USD |
CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
531000000 | USD |
CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
571100000 | USD |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
531200000 | USD |
CY2019Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
960451000 | USD |
CY2018Q1 | us-gaap |
Revenues
Revenues
|
452200000 | USD |
us-gaap |
Revenues
Revenues
|
849400000 | USD | |
CY2019Q1 | us-gaap |
Revenues
Revenues
|
464600000 | USD |
us-gaap |
Revenues
Revenues
|
874900000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6200000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5800000 | USD | |
CY2018Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
2600000 | USD |
us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
5200000 | USD | |
CY2019Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
1000000 | USD |
us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
-2800000 | USD | |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
731100000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
756800000 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
765900000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
768500000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
732000000 | USD |
CY2018Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
744100000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
747400000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
770100000 | USD |
CY2018Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1600000 | shares |
CY2019Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1300000 | shares |
CY2018Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
67100000 | USD |
CY2019Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
55600000 | USD |
CY2018Q1 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
23700000 | USD |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
38900000 | USD | |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
63300000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
63500000 | shares | |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
63400000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
63400000 | shares | |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
63300000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
63500000 | shares | |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
62900000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
62900000 | shares | |
us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Contract balances</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the Process Equipment Group segment, the Company requires an advance deposit based on the terms and conditions of contracts with customers for many of its contracts. Payment terms generally require an upfront payment at the start of the contract, and the remaining payments during the contract or within a certain number of days of delivery. Typically, revenue is recognized within one year of receiving an advance deposit. For contracts where an advance payment is received greater than one year from expected revenue recognition, or a portion of the payment due extends beyond one year, the Company has determined it does not constitute a significant financing component.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The timing of revenue recognition, billings, and cash collections can result in customer receivables, advance payments, and billings in excess of revenue recognized. Customer receivables include amounts billed and currently due from customers and are included in Trade receivables, net, as well as unbilled amounts (contract assets) which are included in Receivables from long-term manufacturing contracts on our Consolidated Balance Sheets. Amounts are billed in accordance with contractual terms or as work progresses in accordance with contractual terms. Unbilled amounts arise when the timing of billing differs from the timing of revenue recognized, such as when contract provisions require specific milestones to be met before a customer can be billed. Unbilled amounts primarily relate to performance obligations satisfied over time when the cost-to-cost method is used and the revenue recognized exceeds the amount billed to the customer as there is not yet a right to payment in accordance with contractual terms. Unbilled amounts are recorded as a contract asset when the revenue associated with the contract is recognized prior to billing and derecognized when billed in accordance with the terms of the contract. Trade receivables are recorded at face amounts and represent the amounts we believe to be collectible. The Company maintains allowances for doubtful accounts for estimated losses as a result of customers’ inability to make required payments. Management evaluates the aging of the customer receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of customer receivables that may not be collected in the future, and records the appropriate provision. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advance payments and billings in excess of revenue recognized are included in Liabilities from long-term manufacturing contracts and advances on our Consolidated Balance Sheets. Advance payments and billings in excess of revenue recognized represent contract liabilities and are recorded when customers remit contractual cash payments in advance of us satisfying performance obligations under contractual arrangements, including those with performance obligations satisfied over time. Billings in excess of revenue recognized primarily relate to performance obligations satisfied over time when the cost-to-cost method is used and revenue cannot yet be recognized as the Company has not completed the corresponding performance obligation. Contract liabilities are derecognized when revenue is recognized and the performance obligation is satisfied.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The balance in Receivables from long-term manufacturing contracts at </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and September 30, 2018 was </font><font style="font-family:inherit;font-size:10pt;">$164.8</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$120.3</font><font style="font-family:inherit;font-size:10pt;">. The change was driven by the adoption of ASC 606 (</font><font style="font-family:inherit;font-size:10pt;">$3.0</font><font style="font-family:inherit;font-size:10pt;">) and the impact of net revenue recognized prior to billings (</font><font style="font-family:inherit;font-size:10pt;">$41.5</font><font style="font-family:inherit;font-size:10pt;">). The balance in the Liabilities from long-term manufacturing contracts and advances at </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;"> and September 30, 2018 was </font><font style="font-family:inherit;font-size:10pt;">$125.1</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$125.9</font><font style="font-family:inherit;font-size:10pt;"> and consists primarily of cash payments received or due in advance of satisfying our performance obligations. The revenue recognized for the </font><font style="font-family:inherit;font-size:10pt;">six months ended March 31, 2019</font><font style="font-family:inherit;font-size:10pt;"> related to Liabilities from long-term manufacturing contracts and advances as of September 30, 2018 was </font><font style="font-family:inherit;font-size:10pt;">$107.0</font><font style="font-family:inherit;font-size:10pt;">. During the </font><font style="font-family:inherit;font-size:10pt;">six months ended March 31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the adjustments related to performance obligations satisfied in previous periods were immaterial.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Costs incurred to obtain a customer contract are not material to the Company. The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed as incurred. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Transaction price allocated to the remaining performance obligations</font></div><div style="line-height:120%;text-align:justify;text-indent:528px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">                                            </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the aggregate amount of transaction price of remaining performance obligations, which corresponds to backlog as defined in Item 2 of this Form 10-Q, for the Company was </font><font style="font-family:inherit;font-size:10pt;">$960.5</font><font style="font-family:inherit;font-size:10pt;">. Approximately </font><font style="font-family:inherit;font-size:10pt;">85%</font><font style="font-family:inherit;font-size:10pt;"> of these obligations are expected to be satisfied over the next twelve months, and the remaining performance obligations, primarily within one to three years. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> | ||
us-gaap |
Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Performance Obligations & Contract Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Process Equipment Group designs, engineers, manufactures, markets, and services differentiated process and material handling equipment and systems for a wide variety of industries. A large portion of our revenue across the Process Equipment Group is derived from manufactured equipment, which may be standard, customized to meet customer specifications, or turnkey. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our contracts with customers in the Process Equipment Group segment often include multiple performance obligations. Performance obligations are promises in a contract to transfer a distinct good or service to the customer, and are the basis for determining how revenue is recognized. For instance, a contract may include obligations to deliver equipment, installation services, and spare parts. We frequently have contracts for which the equipment and the installation services, as well as highly engineered or specialized spare parts, are all considered a single performance obligation, as in these instances the installation services and/or spare parts are not separately identifiable. However, due to the varying nature of equipment and contracts across the Process Equipment Group, we also have contracts where the installation services and/or spare parts are deemed to be separately identifiable and are therefore deemed to be distinct performance obligations. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A contract’s transaction price is allocated to each distinct performance obligation based on its respective stand-alone selling price, and recognized as revenue when, or as, the performance obligation is satisfied. When a distinct performance obligation is not sold separately, the value of the standalone selling price is estimated considering all reasonably available information. When an obligation is distinct, as defined in ASC</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">606, we allocate a portion of the contract price to the obligation and recognize it separately from the other performance obligations. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The timing of revenue recognition for each performance obligation is either over time or at a point in time. We recognize revenue over time for contracts that have an enforceable right to collect payment for performance completed to-date upon customer cancellation and provide one or more of the following: (i) service over a period of time, (ii) highly customized equipment, or (iii) parts which are highly engineered and have no alternative use. Revenue generated from standard equipment and highly customized equipment or parts contracts without an enforceable right to payment for performance completed to-date, as well as non-specialized parts sales and sales of death care products, is recognized at a point in time. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We use the input method of “cost-to-cost” to recognize revenue over time. Accounting for these contracts involves management judgment in estimating total contract revenue and cost. Contract revenues are largely determined by negotiated contract prices and quantities, modified by our assumptions regarding contract options, change orders, and incentive and award provisions associated with technical performance clauses. Contract costs are incurred over longer periods of time and, accordingly, the estimation of these costs requires judgment. We measure progress based on costs incurred to date relative to total estimated cost at completion. Incurred cost represents work performed, which corresponds with, and we believe thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, and certain overhead expenses. Cost estimates are based on various assumptions to project the outcome of future events, including labor productivity and availability, the complexity of the work to be performed, the cost of materials, and the performance of subcontractors. Significant factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, asset utilization, and anticipated labor agreements. Revenue and cost estimates are regularly monitored and revised based on changes in circumstances. Anticipated losses on long-term contracts are recognized immediately when such losses become evident. We maintain financial controls over the customer qualification, contract pricing, and estimation processes to reduce the risk of contract losses.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stand-alone service revenue is recognized either over time proportionately over the period of the underlying contract or as invoiced, depending on the terms of the arrangement. Stand-alone service revenue is not material to the Company.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the Process Equipment Group and Batesville segment products where revenue is recognized at a point in time, we recognize it when our customers take control of the asset. We define this as the point in time at which the customer has the capability of full beneficial use of the asset as intended per the contract. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> |