2018 Form 10-K Financial Statement

#000130221518000015 Filed on May 25, 2018

View on sec.gov

Income Statement

Concept 2018 2017 Q1 2017
Revenue $30.20M $244.8M $33.02M
YoY Change -8.53% 33.31% 17.15%
Cost Of Revenue
YoY Change
Gross Profit $277.6M $241.5M
YoY Change 14.96% 27.96%
Gross Profit Margin 919.21% 731.41%
Selling, General & Admin $727.2M $193.3M $665.8M
YoY Change 9.22% 39.57% 21.43%
% of Gross Profit 261.96% 275.72%
Research & Development $18.48M $17.63M
YoY Change 4.84% 10.06%
% of Gross Profit 6.66% 7.3%
Depreciation & Amortization $7.905M $2.000M $8.853M
YoY Change -10.71% -16.67% 18.06%
% of Gross Profit 2.85% 3.67%
Operating Expenses $749.0M $185.0M $690.1M
YoY Change 8.53% 30.18% 21.63%
Operating Profit $214.4M $59.76M $182.0M
YoY Change 17.81% 44.02% 43.98%
Interest Expense $3.800M
YoY Change
% of Operating Profit 2.09%
Other Income/Expense, Net $3.423M -$800.0K -$3.508M
YoY Change -197.58% 0.0% 355.58%
Pretax Income $217.8M $56.60M $178.5M
YoY Change 22.05% 38.73% 42.07%
Income Tax $45.55M $22.50M $70.14M
% Of Pretax Income 20.91% 39.75% 39.3%
Net Earnings $172.3M $38.10M $108.3M
YoY Change 59.02% 67.25% 55.35%
Net Earnings / Revenue 570.47% 15.57% 328.16%
Basic Earnings Per Share $2.76 $0.61 $1.77
Diluted Earnings Per Share $2.60 $0.58 $1.63
COMMON SHARES
Basic Shares Outstanding 62.49M shares 61.10M shares
Diluted Shares Outstanding 66.32M shares 66.58M shares

Balance Sheet

Concept 2018 2017 Q1 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $206.7M $300.3M $300.3M
YoY Change -31.17% 80.69% 80.69%
Cash & Equivalents $206.7M $300.3M $300.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $123.1M $118.4M $118.4M
Other Receivables $8.800M $10.90M $10.90M
Total Short-Term Assets $338.6M $429.6M $429.6M
YoY Change -21.18% 38.49% 38.49%
LONG-TERM ASSETS
Property, Plant & Equipment $32.10M $30.42M $30.40M
YoY Change 5.59% 40.16% 40.09%
Goodwill $519.5M
YoY Change 0.16%
Intangibles
YoY Change
Long-Term Investments $209.3M
YoY Change
Other Assets $93.50M $192.4M $192.4M
YoY Change -51.4%
Total Long-Term Assets $1.080B $956.1M $956.1M
YoY Change 12.98% 25.69% 25.69%
TOTAL ASSETS
Total Short-Term Assets $338.6M $429.6M $429.6M
Total Long-Term Assets $1.080B $956.1M $956.1M
Total Assets $1.419B $1.386B $1.386B
YoY Change 2.39% 29.4% 29.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.80M $41.70M $41.70M
YoY Change -2.16% 21.22% 21.22%
Accrued Expenses $377.9M $336.5M $336.5M
YoY Change 12.3% 32.43% 32.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $432.3M $386.9M $386.9M
YoY Change 11.73% 31.6% 31.6%
LONG-TERM LIABILITIES
Long-Term Debt $11.90M $32.60M $32.60M
YoY Change -63.5% -57.44% -57.44%
Other Long-Term Liabilities $99.70M $204.7M $204.7M
YoY Change -51.29% 2077.66% 2077.66%
Total Long-Term Liabilities $111.6M $237.3M $237.3M
YoY Change -52.97% 175.93% 175.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $432.3M $386.9M $386.9M
Total Long-Term Liabilities $111.6M $237.3M $237.3M
Total Liabilities $566.0M $655.3M $659.1M
YoY Change -14.13% 57.01% 57.04%
SHAREHOLDERS EQUITY
Retained Earnings $87.41M
YoY Change 205.37%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 6.900M shares
Shareholders Equity $852.8M $726.6M $726.6M
YoY Change
Total Liabilities & Shareholders Equity $1.419B $1.386B $1.386B
YoY Change 2.39% 29.4% 29.4%

Cashflow Statement

Concept 2018 2017 Q1 2017
OPERATING ACTIVITIES
Net Income $172.3M $38.10M $108.3M
YoY Change 59.02% 67.25% 55.35%
Depreciation, Depletion And Amortization $7.905M $2.000M $8.853M
YoY Change -10.71% -16.67% 18.06%
Cash From Operating Activities $250.6M $100.2M $252.0M
YoY Change -0.54% 108.75% 2050.16%
INVESTING ACTIVITIES
Capital Expenditures $7.719M -$1.600M $14.42M
YoY Change -46.48% -65.22% 53.68%
Acquisitions $2.701M $3.725M
YoY Change -27.49% -89.89%
Other Investing Activities -$210.9M -$6.400M $12.80M
YoY Change -1747.66% -557.14% -93.22%
Cash From Investing Activities -$218.6M -$8.100M -$1.653M
YoY Change 13123.47% 153.12% -100.92%
FINANCING ACTIVITIES
Cash Dividend Paid $52.08M $55.29M
YoY Change -5.81% -51.62%
Common Stock Issuance & Retirement, Net -$75.43M -$193.6M
YoY Change -61.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$225.3M 144.0M $80.17M
YoY Change -381.05% -1584.54% -170.19%
NET CHANGE
Cash From Operating Activities $250.6M 100.2M $252.0M
Cash From Investing Activities -$218.6M -8.100M -$1.653M
Cash From Financing Activities -$225.3M 144.0M $80.17M
Net Change In Cash -$192.5M 236.1M $326.5M
YoY Change -158.94% 572.65% 321.27%
FREE CASH FLOW
Cash From Operating Activities $250.6M $100.2M $252.0M
Capital Expenditures $7.719M -$1.600M $14.42M
Free Cash Flow $242.9M $101.8M $237.6M
YoY Change 2.24% 93.54% 10071.1%

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0 USD
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CY2018Q1 us-gaap Commitments And Contingencies
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124000 USD
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16017000 USD
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17628000 USD
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18481000 USD
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180244000 USD
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CY2017 us-gaap Contracts Revenue
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217491000 USD
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5881000 USD
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3527000 USD
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7716000 USD
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77184000 USD
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77184000 USD
CY2018Q1 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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50541000 USD
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7499000 USD
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.008
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0.000
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0.000
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-0.074
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.057
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.046
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.035
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74950000 USD
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P1Y7M24D
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1798000 USD
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6982000 USD
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
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11183000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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13253000 USD
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677000 USD
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7000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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157000 USD
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373000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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583000 USD
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2239000 USD
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309000 USD
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5123000 USD
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2239000 USD
CY2017 us-gaap Foreign Currency Transaction Gain Loss Realized
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309000 USD
CY2018 us-gaap Foreign Currency Transaction Gain Loss Realized
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5123000 USD
CY2017Q1 us-gaap Goodwill
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528889000 USD
CY2006Q1 us-gaap Goodwill
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392600000 USD
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136289000 USD
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6902000 USD
CY2018 us-gaap Goodwill Period Increase Decrease
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9402000 USD
CY2016 us-gaap Gross Profit
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188710000 USD
CY2017 us-gaap Gross Profit
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241475000 USD
CY2018 us-gaap Gross Profit
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277600000 USD
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0 USD
CY2018Q1 us-gaap Held To Maturity Securities
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209319000 USD
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24000 USD
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77000 USD
CY2018Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
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209266000 USD
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209319000 USD
CY2018Q1 us-gaap Held To Maturity Securities Fair Value
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209266000 USD
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125630000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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178487000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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217836000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
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-1604000 USD
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-3839000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
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3210000 USD
CY2016 us-gaap Income Tax Expense Benefit
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55863000 USD
CY2017 us-gaap Income Tax Expense Benefit
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70144000 USD
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45553000 USD
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0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-10731000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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43963000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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62470000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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68618000 USD
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1475000 USD
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1422000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
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1414000 USD
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0 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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0 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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-16173000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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7108000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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8139000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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7600000 USD
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75365000 USD
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57286000 USD
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47629000 USD
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-13959000 USD
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13499000 USD
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392000 USD
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1387000 USD
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5527000 USD
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18202000 USD
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2475000 USD
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-1970000 USD
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82046000 USD
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34556000 USD
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20917000 USD
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643000 USD
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-3745000 USD
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1703000 USD
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8360000 USD
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192210000 USD
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192210000 USD
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806000 USD
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62000 USD
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33000 USD
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656000 USD
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636631000 USD
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26459000 USD
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27094000 USD
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28560000 USD
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1385707000 USD
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1418841000 USD
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12080000 USD
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989000 USD
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201000 USD
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280000 USD
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575000 USD
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654000 USD
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-1013000 USD
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11721000 USD
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252020000 USD
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250647000 USD
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26000 USD
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0 USD
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0 USD
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172283000 USD
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172283000 USD
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3390000 USD
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184991000 USD
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32861000 USD
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7961000 USD
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14139000 USD
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19497000 USD
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0 USD
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0 USD
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0 USD
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0 USD
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2936000 USD
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22756000 USD
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36854000 USD
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3725000 USD
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2701000 USD
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0 USD
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0 USD
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209319000 USD
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9385000 USD
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14423000 USD
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16495000 USD
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0 USD
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93500000 USD
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65000000 USD
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0 USD
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33000 USD
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13073000 USD
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62609000 USD
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69224000 USD
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30416000 USD
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32146000 USD
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2538000 USD
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4008000 USD
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1983000 USD
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3838000 USD
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0 USD
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28183000 USD
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33015000 USD
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30200000 USD
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214000 USD
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269000 USD
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0 USD
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205000 USD
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461000 USD
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286000 USD
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0 USD
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65000000 USD
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1661000 USD
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0 USD
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30000000 USD
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15000000 USD
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192372000 USD
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93500000 USD
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192000 USD
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87407000 USD
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207124000 USD
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504000 USD
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7504000 USD
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3006000 USD
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35057000 USD
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39357000 USD
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47111000 USD
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0 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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4754000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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0 USD
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
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1907890 shares
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1737461 shares
CY2017Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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806248 shares
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0 USD
CY2018 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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0 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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0 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
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0 USD
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
13320000 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
5154000 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
7985000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
0 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
27309000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
15139000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
824506000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
651160000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
726617000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
852813000 USD
CY2016 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
20955000 USD
CY2017 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
21707000 USD
CY2018 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
26445000 USD
CY2017Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
6900000 shares
CY2018Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
2000000 shares
CY2017Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
193572000 USD
CY2018Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
93500000 USD
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
133000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1024000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3694000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4563000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
164000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
313000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
816000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
934000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
891000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2670000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1033000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63475903 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66579130 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66324093 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59044981 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61100497 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62494275 shares
CY2016 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
4430922 shares
CY2017 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
5478633 shares
CY2018 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
3829818 shares
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;padding-left:48px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform with current year presentation.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;padding-left:48px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements. Management estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting period, and disclosure of contingent assets and liabilities at the reporting date. These estimates and assumptions are based on management&#8217;s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Items subject to such estimates and assumptions include: the allowance for doubtful accounts, the valuation of deferred tax assets, goodwill, accrued expenses, and share based compensation and reserves for income tax uncertainties and other contingencies.</font></div></div>

Files In Submission

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0001302215-18-000015-index-headers.html Edgar Link pending
0001302215-18-000015-index.html Edgar Link pending
0001302215-18-000015.txt Edgar Link pending
0001302215-18-000015-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
hli-033118xex1021.htm Edgar Link pending
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hli-20180331.xml Edgar Link completed
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hli-20180331_cal.xml Edgar Link unprocessable
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