2019 Q4 Form 10-Q Financial Statement

#000079395219000050 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $1.072B $1.273B $1.316B
YoY Change -6.42% -3.28% 14.29%
Cost Of Revenue $705.5M $748.9M $776.5M
YoY Change -4.69% -3.56% 12.9%
Gross Profit $366.8M $523.6M $539.1M
YoY Change -9.59% -2.87% 16.35%
Gross Profit Margin 34.21% 41.15% 40.98%
Selling, General & Admin $313.8M $309.0M $306.7M
YoY Change -9.88% 0.77% 4.47%
% of Gross Profit 85.55% 59.02% 56.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.90M $49.20M $67.60M
YoY Change -15.35% -27.22% 19.86%
% of Gross Profit 15.79% 9.4% 12.54%
Operating Expenses $353.7M $309.0M $306.7M
YoY Change -7.53% 0.77% 4.47%
Operating Profit $13.10M $119.8M $149.4M
YoY Change -43.53% -19.79% 58.26%
Interest Expense -$3.400M $7.789M $7.762M
YoY Change -63.83% 0.35% -1.7%
% of Operating Profit -25.95% 6.5% 5.19%
Other Income/Expense, Net $4.700M $3.160M $644.0K
YoY Change 213.33% 390.68% -71.95%
Pretax Income $13.70M $117.3M $141.2M
YoY Change -434.15% -16.96% 57.07%
Income Tax $200.0K $30.69M $27.34M
% Of Pretax Income 1.46% 26.18% 19.36%
Net Earnings $13.50M $86.56M $113.9M
YoY Change 2600.0% -23.97% 66.92%
Net Earnings / Revenue 1.26% 6.8% 8.65%
Basic Earnings Per Share $0.09 $0.55 $0.69
Diluted Earnings Per Share $0.09 $0.55 $0.68
COMMON SHARES
Basic Shares Outstanding 154.3M shares 156.2M shares 165.9M shares
Diluted Shares Outstanding 156.9M shares 166.7M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $886.4M $912.2M $986.8M
YoY Change -29.54% -7.56% 35.39%
Cash & Equivalents $833.9M $862.4M $927.0M
Short-Term Investments $52.58M $49.82M $59.84M
Other Short-Term Assets $169.0M $140.8M $151.0M
YoY Change 17.04% -6.79% -17.2%
Inventory $603.6M $489.1M $516.2M
Prepaid Expenses
Receivables $259.3M $307.6M $332.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.203B $4.089B $4.089B
YoY Change -6.28% -0.01% 7.95%
LONG-TERM ASSETS
Property, Plant & Equipment $847.4M $844.4M $885.0M
YoY Change -6.28% -4.58% -5.31%
Goodwill $64.16M $63.73M $55.32M
YoY Change 16.55% 15.2% -1.04%
Intangibles
YoY Change
Long-Term Investments $53.00M $50.00M $50.00M
YoY Change -1.85% 0.0% 8.7%
Other Assets $93.11M $85.56M $82.57M
YoY Change 27.43% 3.62% -4.3%
Total Long-Term Assets $6.325B $6.487B $6.414B
YoY Change 2.33% 1.14% 1.81%
TOTAL ASSETS
Total Short-Term Assets $4.203B $4.089B $4.089B
Total Long-Term Assets $6.325B $6.487B $6.414B
Total Assets $10.53B $10.58B $10.50B
YoY Change -1.29% 0.69% 4.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $294.4M $349.0M $311.0M
YoY Change 3.34% 12.21% 12.22%
Accrued Expenses $582.3M $557.0M $564.8M
YoY Change -3.13% -1.39% -1.59%
Deferred Revenue
YoY Change
Short-Term Debt $572.0M $1.013B $1.374B
YoY Change -49.64% -26.26% 64.56%
Long-Term Debt Due $1.748B $1.780B $1.526B
YoY Change 10.93% 16.61% -0.28%
Total Short-Term Liabilities $3.197B $3.699B $3.776B
YoY Change -11.14% -2.04% 17.39%
LONG-TERM LIABILITIES
Long-Term Debt $5.125B $4.607B $4.197B
YoY Change 4.85% 9.78% -8.93%
Other Long-Term Liabilities $221.3M $223.2M $211.6M
YoY Change 8.38% 5.51% 10.19%
Total Long-Term Liabilities $5.346B $4.830B $4.408B
YoY Change 4.99% 9.58% -8.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.197B $3.699B $3.776B
Total Long-Term Liabilities $5.346B $4.830B $4.408B
Total Liabilities $8.543B $8.529B $8.184B
YoY Change -1.69% 4.22% 2.09%
SHAREHOLDERS EQUITY
Retained Earnings $2.194B $2.238B $1.958B
YoY Change 9.29% 14.29% 17.91%
Common Stock $1.828M $1.827M $1.819M
YoY Change 0.49% 0.44% 0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.346B $1.270B $873.9M
YoY Change 26.33% 45.37% 26.62%
Treasury Stock Shares 30.35M shares
Shareholders Equity $1.804B $1.836B $2.153B
YoY Change
Total Liabilities & Shareholders Equity $10.53B $10.58B $10.50B
YoY Change -1.29% 0.69% 4.12%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $13.50M $86.56M $113.9M
YoY Change 2600.0% -23.97% 66.92%
Depreciation, Depletion And Amortization $57.90M $49.20M $67.60M
YoY Change -15.35% -27.22% 19.86%
Cash From Operating Activities $19.70M $352.4M $544.3M
YoY Change -76.35% -35.26% 69.04%
INVESTING ACTIVITIES
Capital Expenditures -$60.20M -$38.00M -$40.90M
YoY Change -35.75% -7.09% -7.47%
Acquisitions
YoY Change
Other Investing Activities $103.6M -$149.0M -$305.5M
YoY Change 118.57% -51.23% 161.11%
Cash From Investing Activities $43.40M -$186.9M -$346.3M
YoY Change -193.94% -46.03% 114.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -108.5M -222.8M 24.60M
YoY Change -142.5% -1005.69% -104.98%
NET CHANGE
Cash From Operating Activities 19.70M 352.4M 544.3M
Cash From Investing Activities 43.40M -186.9M -346.3M
Cash From Financing Activities -108.5M -222.8M 24.60M
Net Change In Cash -45.40M -57.30M 222.6M
YoY Change -115.53% -125.74% -166.91%
FREE CASH FLOW
Cash From Operating Activities $19.70M $352.4M $544.3M
Capital Expenditures -$60.20M -$38.00M -$40.90M
Free Cash Flow $79.90M $390.4M $585.2M
YoY Change -54.86% -33.29% 59.8%

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CY2018Q3 us-gaap Common Stock Value
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us-gaap Repayments Of Secured Debt
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hog Proceedsfrom Issuanceof Asset Backed Commercial Paper
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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us-gaap Net Cash Provided By Used In Financing Activities
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223801000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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223801000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q1 us-gaap Net Income Loss
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<div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</span></div>
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CY2018Q3 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation Optional Exemption Remaining Duration
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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14900000 USD
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CY2018Q3 us-gaap Equity Securities Fv Ni
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CY2018Q3 us-gaap Marketable Securities
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CY2018Q3 us-gaap Inventory Lifo Reserve
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530956000 USD
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174609000 USD
us-gaap Depreciation Amortization And Accretion Net
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196461000 USD
us-gaap Amortization Of Deferred Loan Origination Fees Net
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7032000 USD
us-gaap Amortization Of Financing Costs
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6207000 USD
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28162000 USD
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us-gaap Pension And Other Postretirement Benefit Contributions
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11035000 USD
us-gaap Share Based Compensation
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25323000 USD
us-gaap Share Based Compensation
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29122000 USD
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18400000 USD
us-gaap Provision For Loan Lease And Other Losses
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94621000 USD
us-gaap Provision For Loan Lease And Other Losses
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72462000 USD
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3535000 USD
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CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses
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189885000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses
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189885000 USD
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2576342000 USD
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2659740000 USD
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us-gaap Interest Expense
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23180000 USD
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145089000 USD
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us-gaap Variable Lease Cost
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4800000 USD
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5421000 USD
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18781000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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4396000 USD
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
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61497000 USD
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3668000 USD
CY2019Q3 us-gaap Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2018Q4 us-gaap Long Term Debt
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CY2018Q3 us-gaap Long Term Debt
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CY2019Q3 us-gaap Long Term Debt Current
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CY2018Q4 us-gaap Long Term Debt Current
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CY2018Q3 us-gaap Long Term Debt Current
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CY2019Q3 us-gaap Long Term Debt Noncurrent
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CY2018Q4 us-gaap Long Term Debt Noncurrent
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CY2018Q3 us-gaap Long Term Debt Noncurrent
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us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
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900000 USD
CY2019Q3 us-gaap Continuing Involvement With Transferred Financial Assets Principal Amount Outstanding
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6500938000 USD
CY2018Q4 us-gaap Continuing Involvement With Transferred Financial Assets Principal Amount Outstanding
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6185350000 USD
CY2018Q3 us-gaap Continuing Involvement With Transferred Financial Assets Principal Amount Outstanding
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43938000 USD
CY2018Q4 us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
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79613000 USD
CY2018Q3 us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
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93147000 USD
CY2019Q3 us-gaap Securitized Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
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6264963000 USD
CY2018Q3 us-gaap Securitized Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
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954000 USD
CY2018Q4 us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Delinquent Amount At End Of Period
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1658000 USD
CY2018Q3 us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Delinquent Amount At End Of Period
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1767000 USD
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218666000 USD
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229673000 USD
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206341000 USD
CY2019Q3 us-gaap Assets That Continue To Be Recognized Securitized Or Asset Backed Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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30167000 USD
CY2018Q3 us-gaap Assets That Continue To Be Recognized Securitized Or Asset Backed Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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24005000 USD
us-gaap Assets That Continue To Be Recognized Securitized Or Asset Backed Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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85930000 USD
us-gaap Assets That Continue To Be Recognized Securitized Or Asset Backed Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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71478000 USD
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CY2018Q3 us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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230000 USD
us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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375000 USD
us-gaap Derecognized Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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729000 USD
CY2019Q3 hog Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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30149000 USD
CY2018Q3 hog Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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24235000 USD
hog Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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86305000 USD
hog Assets Securitized Or Assetbacked Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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72207000 USD
CY2019Q2 us-gaap Standard Product Warranty Accrual
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108804000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
89943000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
131740000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
94202000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
12988000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
12038000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
41955000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
43548000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
26906000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
21550000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
73291000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
59965000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
1990000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
3493000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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-3528000 USD
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6139000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
96876000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
83924000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
96876000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
83924000 USD
CY2019Q3 hog Standard Product Warranty Accrual Liability For Recall
StandardProductWarrantyAccrualLiabilityForRecall
40500000 USD
CY2018Q4 hog Standard Product Warranty Accrual Liability For Recall
StandardProductWarrantyAccrualLiabilityForRecall
73300000 USD
CY2018Q3 hog Standard Product Warranty Accrual Liability For Recall
StandardProductWarrantyAccrualLiabilityForRecall
23900000 USD
CY2019Q3 us-gaap Operating Income Loss
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119844000 USD
CY2018Q3 us-gaap Operating Income Loss
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149416000 USD
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543213000 USD
us-gaap Operating Income Loss
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709780000 USD
CY2019Q3 us-gaap Revenues
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1272519000 USD
CY2019Q3 us-gaap Cost Of Goods And Services Sold
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748878000 USD
CY2019Q3 us-gaap Financing Interest Expense
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53390000 USD
CY2019Q3 us-gaap Provision For Loan Lease And Other Losses
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33747000 USD
CY2019Q3 us-gaap Selling General And Administrative Expense
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309031000 USD
CY2019Q3 us-gaap Restructuring Charges
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7629000 USD
CY2019Q3 us-gaap Costs And Expenses
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