2019 Form 10-K Financial Statement

#000130221519000044 Filed on May 24, 2019

View on sec.gov

Income Statement

Concept 2019 2018 Q1 2018
Revenue $1.084B $291.4M $30.20M
YoY Change 3490.68% 19.05% -8.53%
Cost Of Revenue
YoY Change
Gross Profit $306.0M $277.6M
YoY Change 10.23% 14.96%
Gross Profit Margin 28.22% 919.21%
Selling, General & Admin $818.2M $179.5M $727.2M
YoY Change 12.51% -7.14% 9.22%
% of Gross Profit 267.4% 261.96%
Research & Development $21.51M $18.48M
YoY Change 16.4% 4.84%
% of Gross Profit 7.03% 6.66%
Depreciation & Amortization $14.48M $1.800M $7.905M
YoY Change 83.11% -10.0% -10.71%
% of Gross Profit 4.73% 2.85%
Operating Expenses $865.3M $230.4M $749.0M
YoY Change 15.53% 24.55% 8.53%
Operating Profit $219.1M $60.97M $214.4M
YoY Change 2.18% 2.01% 17.81%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $5.223M $1.100M $3.423M
YoY Change 52.59% -237.5% -197.58%
Pretax Income $224.3M $60.80M $217.8M
YoY Change 2.98% 7.42% 22.05%
Income Tax $65.21M $16.60M $45.55M
% Of Pretax Income 29.07% 27.3% 20.91%
Net Earnings $159.1M $45.35M $172.3M
YoY Change -7.65% 19.03% 59.02%
Net Earnings / Revenue 14.67% 15.56% 570.47%
Basic Earnings Per Share $2.56 $0.74 $2.76
Diluted Earnings Per Share $2.42 $0.69 $2.60
COMMON SHARES
Basic Shares Outstanding 62.21M shares 62.49M shares
Diluted Shares Outstanding 65.85M shares 66.32M shares

Balance Sheet

Concept 2019 2018 Q1 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $285.7M $416.0M $206.7M
YoY Change 38.22% 38.54% -31.17%
Cash & Equivalents $285.7M $206.7M $206.7M
Short-Term Investments $209.3M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $142.7M $123.1M $123.1M
Other Receivables $8.700M $8.800M $8.800M
Total Short-Term Assets $437.1M $338.6M $338.6M
YoY Change 29.09% -21.18% -21.18%
LONG-TERM ASSETS
Property, Plant & Equipment $31.00M $32.15M $32.10M
YoY Change -3.43% 5.69% 5.59%
Goodwill $528.9M
YoY Change 1.81%
Intangibles
YoY Change
Long-Term Investments $125.3M $209.3M $209.3M
YoY Change -40.13%
Other Assets $3.200M $93.50M $93.50M
YoY Change -96.58% -51.4% -51.4%
Total Long-Term Assets $988.8M $1.085B $1.080B
YoY Change -8.46% 13.51% 12.98%
TOTAL ASSETS
Total Short-Term Assets $437.1M $338.6M $338.6M
Total Long-Term Assets $988.8M $1.085B $1.080B
Total Assets $1.426B $1.424B $1.419B
YoY Change 0.5% 2.75% 2.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.00M $40.80M $40.80M
YoY Change 34.8% -2.16% -2.16%
Accrued Expenses $404.7M $377.9M $377.9M
YoY Change 7.09% 12.3% 12.3%
Deferred Revenue $3.620M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $495.3M $432.3M $432.3M
YoY Change 14.57% 11.73% 11.73%
LONG-TERM LIABILITIES
Long-Term Debt $8.700M $11.90M $11.90M
YoY Change -26.89% -63.5% -63.5%
Other Long-Term Liabilities $22.50M $99.70M $99.70M
YoY Change -77.43% -51.29% -51.29%
Total Long-Term Liabilities $31.20M $111.6M $111.6M
YoY Change -72.04% -52.97% -52.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $495.3M $432.3M $432.3M
Total Long-Term Liabilities $31.20M $111.6M $111.6M
Total Liabilities $534.6M $566.0M $566.0M
YoY Change -5.55% -13.62% -14.13%
SHAREHOLDERS EQUITY
Retained Earnings $207.1M
YoY Change 136.97%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 2.000M shares
Shareholders Equity $891.3M $852.8M $852.8M
YoY Change
Total Liabilities & Shareholders Equity $1.426B $1.419B $1.419B
YoY Change 0.5% 2.39% 2.39%

Cashflow Statement

Concept 2019 2018 Q1 2018
OPERATING ACTIVITIES
Net Income $159.1M $45.35M $172.3M
YoY Change -7.65% 19.03% 59.02%
Depreciation, Depletion And Amortization $14.48M $1.800M $7.905M
YoY Change 83.11% -10.0% -10.71%
Cash From Operating Activities $224.3M $109.9M $250.6M
YoY Change -10.52% 9.68% -0.54%
INVESTING ACTIVITIES
Capital Expenditures $6.726M -$1.500M $7.719M
YoY Change -12.86% -6.25% -46.48%
Acquisitions $71.41M $2.701M
YoY Change 2543.72% -27.49%
Other Investing Activities $13.20M -$78.20M -$210.9M
YoY Change -106.26% 1121.88% -1747.66%
Cash From Investing Activities $6.459M -$79.70M -$218.6M
YoY Change -102.95% 883.95% 13123.47%
FINANCING ACTIVITIES
Cash Dividend Paid $66.93M $52.08M
YoY Change 28.51% -5.81%
Common Stock Issuance & Retirement, Net $69.56M -$75.43M
YoY Change -192.23% -61.03%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$236.1M 75.30M -$225.3M
YoY Change 4.81% -47.71% -381.05%
NET CHANGE
Cash From Operating Activities $224.3M 109.9M $250.6M
Cash From Investing Activities $6.459M -79.70M -$218.6M
Cash From Financing Activities -$236.1M 75.30M -$225.3M
Net Change In Cash -$14.11M 105.5M -$192.5M
YoY Change -92.67% -55.32% -158.94%
FREE CASH FLOW
Cash From Operating Activities $224.3M $109.9M $250.6M
Capital Expenditures $6.726M -$1.500M $7.719M
Free Cash Flow $217.5M $111.4M $242.9M
YoY Change -10.45% 9.43% 2.24%

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CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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0.27
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17628000 USD
CY2018 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
18481000 USD
CY2019 us-gaap Communications And Information Technology
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21512000 USD
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101039000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax
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CY2019 us-gaap Comprehensive Income Net Of Tax
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4675000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net
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CY2018Q1 us-gaap Contract With Customer Liability
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30872000 USD
CY2019Q1 us-gaap Contract With Customer Liability
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27812000 USD
CY2018Q1 us-gaap Contract With Customer Liability Current
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3620000 USD
CY2019Q1 us-gaap Contract With Customer Liability Current
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CY2019 us-gaap Current Federal Tax Expense Benefit
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3527000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
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7716000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
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6706000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
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CY2018 us-gaap Current Income Tax Expense Benefit
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52122000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
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75901000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
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12686000 USD
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CY2019 us-gaap Current State And Local Tax Expense Benefit
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22094000 USD
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58687000 USD
CY2019Q1 us-gaap Deferred Income Tax Liabilities
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53323000 USD
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22180000 USD
CY2019Q1 us-gaap Deferred Income Tax Liabilities Net
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5204000 USD
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49841000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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62550000 USD
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36507000 USD
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48119000 USD
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11235000 USD
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7789000 USD
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32358000 USD
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4920000 USD
CY2018Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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2347000 USD
CY2019Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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675000 USD
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13334000 USD
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31196000 USD
CY2018Q1 us-gaap Deferred Tax Liabilities
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22180000 USD
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5204000 USD
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51676000 USD
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77184000 USD
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50541000 USD
CY2019Q1 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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51676000 USD
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2321000 USD
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2018000 USD
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2765000 USD
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5708000 USD
CY2018 us-gaap Depreciation
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6195000 USD
CY2019 us-gaap Depreciation
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8434000 USD
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8853000 USD
CY2018 us-gaap Depreciation And Amortization
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7905000 USD
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14475000 USD
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8853000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
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7905000 USD
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14475000 USD
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3983000 USD
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0.71
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0.74
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2.76
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2.56
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0.58
CY2017 us-gaap Earnings Per Share Diluted
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1.63
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0.45
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0.61
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0.67
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0.69
CY2018 us-gaap Earnings Per Share Diluted
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2.60
CY2019 us-gaap Earnings Per Share Diluted
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2.42
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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785000 USD
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0.393
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0.209
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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0.291
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.314998439192787
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.315
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.049
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.006
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-0.010
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.018
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.009
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.008
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.006
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.017
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-0.074
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.000
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8000 USD
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
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.058
CY2018Q1 us-gaap Employee Related Liabilities Current And Noncurrent
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377901000 USD
CY2019Q1 us-gaap Employee Related Liabilities Current And Noncurrent
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404717000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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77348000 USD
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P1Y5M1D
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6982000 USD
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
CY2019 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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13253000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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11032000 USD
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6294000 USD
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7000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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7000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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157000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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711000 USD
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309000 USD
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5123000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
671000 USD
CY2018Q1 us-gaap Goodwill
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CY2019Q1 us-gaap Goodwill
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CY2006Q1 us-gaap Goodwill
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392600000 USD
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202212000 USD
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65923000 USD
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241475000 USD
CY2018 us-gaap Gross Profit
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277600000 USD
CY2019 us-gaap Gross Profit
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305986000 USD
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209319000 USD
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24000 USD
CY2018Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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77000 USD
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29083000 USD
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28719000 USD
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209319000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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124828000 USD
CY2018Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
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209266000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
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125258000 USD
CY2018Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
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209266000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
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96175000 USD
CY2018Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
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209319000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
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96109000 USD
CY2018Q1 us-gaap Held To Maturity Securities Fair Value
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209266000 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
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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224320000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3839000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
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3210000 USD
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
609000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
70144000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45553000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
65214000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-10731000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1313000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1741000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-3972000 USD
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-2098000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
62470000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
68618000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
47107000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1422000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1414000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3797000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-16173000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-8000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8139000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
7600000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
12944000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
57286000 USD
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
47629000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
82464000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
13499000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
392000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11542000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5527000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18202000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-21611000 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Asset
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1358000 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-3060000 USD
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1970000 USD
CY2018 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-31000 USD
CY2019 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-6661000 USD
CY2017 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
82046000 USD
CY2018 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
34556000 USD
CY2019 us-gaap Increase Decrease In Employee Related Liabilities
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18868000 USD
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0 USD
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430000 USD
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4960000 USD
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164000 USD
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813000 USD
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816000 USD
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934000 USD
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1093000 USD
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2670000 USD
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1033000 USD
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1210000 USD
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61100497 shares
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62494275 shares
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62213414 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
CY2019 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
3632718 shares
CY2019 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;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; the allocation of goodwill and other assets across the reporting units (segments); and reserves for income tax uncertainties and other contingencies.</font></div></div>

Files In Submission

Name View Source Status
0001302215-19-000044-index-headers.html Edgar Link pending
0001302215-19-000044-index.html Edgar Link pending
0001302215-19-000044.txt Edgar Link pending
0001302215-19-000044-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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hli-20190331.xml Edgar Link completed
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