2018 Q4 Form 10-K Financial Statement

#000136447919000004 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4 2017 Q3
Revenue $543.7M $491.7M $457.6M
YoY Change 10.58% 21.35% 13.38%
Cost Of Revenue $289.4M $261.7M $10.80M
YoY Change 10.58% 24.44% -10.74%
Gross Profit $254.3M $230.0M $446.8M
YoY Change 10.57% 18.01% 14.13%
Gross Profit Margin 46.77% 46.78% 97.64%
Selling, General & Admin $82.00M $76.00M $84.50M
YoY Change 7.89% 5.26% 26.5%
% of Gross Profit 32.25% 33.04% 18.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $114.4M $109.2M $109.7M
YoY Change 4.76% 1.77% 8.72%
% of Gross Profit 44.99% 47.48% 24.55%
Operating Expenses $180.9M $171.4M $84.50M
YoY Change 5.54% 2.27% 26.5%
Operating Profit $73.40M $58.60M $362.3M
YoY Change 25.26% 114.65% 11.58%
Interest Expense -$34.40M -$38.20M -$32.00M
YoY Change -9.95% 11.05% -8.31%
% of Operating Profit -46.87% -65.19% -8.83%
Other Income/Expense, Net -$700.0K $1.100M $1.700M
YoY Change -163.64% 450.0% 112.5%
Pretax Income $38.30M $21.10M $18.60M
YoY Change 81.52% -385.14% 177.61%
Income Tax $1.300M $13.90M $5.800M
% Of Pretax Income 3.39% 65.88% 31.18%
Net Earnings $33.30M $214.3M $12.80M
YoY Change -84.46% -1723.48% 326.67%
Net Earnings / Revenue 6.12% 43.58% 2.8%
Basic Earnings Per Share $1.17 $7.57 $0.45
Diluted Earnings Per Share $1.16 $7.44 $0.45
COMMON SHARES
Basic Shares Outstanding 28.50M shares 28.37M shares 28.30M shares
Diluted Shares Outstanding 28.60M shares

Balance Sheet

Concept 2018 Q4 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.80M $41.50M $19.10M
YoY Change -33.01% 257.76% -63.2%
Cash & Equivalents $27.80M $41.50M $19.10M
Short-Term Investments
Other Short-Term Assets $22.30M $23.00M $26.30M
YoY Change -3.04% -34.84% 55.62%
Inventory $17.90M $23.70M $26.70M
Prepaid Expenses
Receivables $332.4M $386.3M $347.9M
Other Receivables $0.00 $0.00 $4.400M
Total Short-Term Assets $400.4M $474.5M $424.4M
YoY Change -15.62% 27.66% 8.6%
LONG-TERM ASSETS
Property, Plant & Equipment $282.5M $286.3M $287.3M
YoY Change -1.33% 5.26% 6.33%
Goodwill $91.00M $91.00M $91.10M
YoY Change 0.0% 0.0% 0.11%
Intangibles $293.5M $283.9M $284.4M
YoY Change 3.38% -6.58% -6.35%
Long-Term Investments
YoY Change
Other Assets $38.10M $39.40M $36.20M
YoY Change -3.3% 13.54% 2.84%
Total Long-Term Assets $3.210B $3.075B $3.165B
YoY Change 4.38% -0.62% -0.71%
TOTAL ASSETS
Total Short-Term Assets $400.4M $474.5M $424.4M
Total Long-Term Assets $3.210B $3.075B $3.165B
Total Assets $3.610B $3.550B $3.589B
YoY Change 1.7% 2.41% 0.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $147.0M $152.0M $246.3M
YoY Change -3.29% 9.35% -6.31%
Accrued Expenses $122.3M $113.3M $105.6M
YoY Change 7.94% 28.46% 3.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.90M $22.70M $17.20M
YoY Change 18.5% 44.59% 10.97%
Total Short-Term Liabilities $299.2M $290.7M $387.7M
YoY Change 2.92% 19.68% -1.4%
LONG-TERM LIABILITIES
Long-Term Debt $2.130B $2.137B $2.212B
YoY Change -0.34% -1.9% 4.14%
Other Long-Term Liabilities $43.80M $35.80M $38.30M
YoY Change 22.35% 11.88% -7.26%
Total Long-Term Liabilities $43.80M $35.80M $38.30M
YoY Change 22.35% 11.88% -7.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $299.2M $290.7M $387.7M
Total Long-Term Liabilities $43.80M $35.80M $38.30M
Total Liabilities $3.038B $3.039B $3.300B
YoY Change -0.06% -3.46% 2.31%
SHAREHOLDERS EQUITY
Retained Earnings -$391.1M -$462.4M -$679.2M
YoY Change -15.42% -26.04% 10.98%
Common Stock $300.0K $300.0K $300.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $692.0M $692.0M $692.0M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 2.700M shares 2.700M shares 2.700M shares
Shareholders Equity $572.7M $510.4M $288.8M
YoY Change
Total Liabilities & Shareholders Equity $3.610B $3.550B $3.589B
YoY Change 1.7% 2.41% 0.3%

Cashflow Statement

Concept 2018 Q4 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $33.30M $214.3M $12.80M
YoY Change -84.46% -1723.48% 326.67%
Depreciation, Depletion And Amortization $114.4M $109.2M $109.7M
YoY Change 4.76% 1.77% 8.72%
Cash From Operating Activities $184.1M $95.50M $127.3M
YoY Change 92.77% 52.8% -21.81%
INVESTING ACTIVITIES
Capital Expenditures -$173.0M -$162.6M -$226.6M
YoY Change 6.4% 0.87% 13.87%
Acquisitions
YoY Change
Other Investing Activities $89.00M $41.60M $34.10M
YoY Change 113.94% 520.9% 7.23%
Cash From Investing Activities -$84.00M -$121.0M -$192.5M
YoY Change -30.58% -21.68% 15.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -90.00M 40.80M 68.30M
YoY Change -320.59% -27.01% 563.11%
NET CHANGE
Cash From Operating Activities 184.1M 95.50M 127.3M
Cash From Investing Activities -84.00M -121.0M -192.5M
Cash From Financing Activities -90.00M 40.80M 68.30M
Net Change In Cash 10.10M 15.30M 3.100M
YoY Change -33.99% -142.38% -47.46%
FREE CASH FLOW
Cash From Operating Activities $184.1M $95.50M $127.3M
Capital Expenditures -$173.0M -$162.6M -$226.6M
Free Cash Flow $357.1M $258.1M $353.9M
YoY Change 38.36% 15.38% -2.18%

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CY2018Q4 us-gaap Assets
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CY2018Q4 us-gaap Assets Current
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10500000 USD
CY2017Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
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4300000 USD
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7800000 USD
CY2017 us-gaap Capital Expenditures Incurred But Not Yet Paid
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0 USD
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2016 us-gaap Capital Lease Obligations Incurred
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CY2017 us-gaap Capital Lease Obligations Incurred
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400000 USD
CY2018 us-gaap Capital Lease Obligations Incurred
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2600000 USD
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CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
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23600000 USD
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700000 USD
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1500000 USD
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1500000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
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13000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
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2200000 USD
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38100000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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41500000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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27800000 USD
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31700000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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31000000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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41500000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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27800000 USD
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CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q4 us-gaap Common Stock Shares Authorized
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133300000 shares
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31100000 shares
CY2018Q4 us-gaap Common Stock Shares Issued
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31200000 shares
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CY2018Q4 us-gaap Common Stock Shares Outstanding
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28500000 shares
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300000 USD
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47500000 USD
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75600000 USD
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2000000 USD
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0 USD
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2500000 USD
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0 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
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2000000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
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2200000 USD
CY2016 us-gaap Current Foreign Tax Expense Benefit
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2400000 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
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5000000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
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1900000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
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2500000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
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3700000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
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9600000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
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100000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
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CY2018 us-gaap Current State And Local Tax Expense Benefit
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5500000 USD
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100000 USD
CY2018 us-gaap Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Amortization Expense Period Increase Decrease
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200000 USD
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2700000 USD
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CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2016 us-gaap Deferred Income Tax Expense Benefit
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12300000 USD
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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CY2018Q4 us-gaap Deferred Income Tax Liabilities
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590000000 USD
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462800000 USD
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448300000 USD
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12300000 USD
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CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
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46500000 USD
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CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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4200000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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4200000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
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4200000 USD
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5400000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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6800000 USD
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7600000 USD
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5800000 USD
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448100000 USD
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66200000 USD
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67800000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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469700000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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512500000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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5800000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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6300000 USD
CY2017 us-gaap Defined Benefit Plan Assets Transferred To From Plan
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3600000 USD
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100000 USD
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1200000 USD
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7500000 USD
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9400000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
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10500000 USD
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39700000 USD
CY2017 us-gaap Depreciation Nonproduction
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46800000 USD
CY2018 us-gaap Depreciation Nonproduction
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51900000 USD
CY2018 us-gaap Derivative Term Of Contract
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P3Y0M
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CY2017 us-gaap Direct Operating Costs
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CY2018 us-gaap Direct Operating Costs
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CY2017 us-gaap Earnings Per Share Basic
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1300000 USD
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CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
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27500000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current
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32100000 USD
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17400000 USD
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P1Y6M0D
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2100000 USD
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2500000 USD
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3500000 USD
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0 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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100000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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100000 USD
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16200000 USD
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34100000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
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41800000 USD
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17900000 USD
CY2018Q4 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions
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159600000 USD
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117100000 USD
CY2018Q4 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Five Years
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8500000 USD
CY2018Q4 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Four Years
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8500000 USD
CY2018Q4 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within One Year
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8500000 USD
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8500000 USD
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8500000 USD
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11900000 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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11400000 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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5400000 USD
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CY2018Q4 us-gaap Goodwill
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91000000 USD
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CY2018Q4 us-gaap Goodwill Gross
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765900000 USD
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674900000 USD
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674900000 USD
CY2018 us-gaap Goodwill Impairment Loss
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0 USD
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7600000 USD
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0 USD
CY2018 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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0 USD
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2500000 USD
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60500000 USD
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54300000 USD
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49800000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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18600000 USD
CY2017Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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21100000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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15200000 USD
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500000 USD
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45200000 USD
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38300000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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68800000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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8300000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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68800000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
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2300000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1900000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
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1600000 USD
CY2016 us-gaap Income Tax Expense Benefit
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14800000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1300000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1100000 USD
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CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2016 us-gaap Income Tax Reconciliation Disposition Of Assets
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0 USD
CY2017 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
0 USD
CY2018 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
900000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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800000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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1900000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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900000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-1700000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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14400000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
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3200000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
500000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
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1100000 USD
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0 USD
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CY2018 us-gaap Income Tax Reconciliation Other Adjustments
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1100000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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11200000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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2600000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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3600000 USD
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2900000 USD
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13400000 USD
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9200000 USD
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-10000000 USD
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-1700000 USD
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59200000 USD
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131600000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
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29900000 USD
CY2016 us-gaap Increase Decrease In Accrued Liabilities
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31200000 USD
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26800000 USD
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17600000 USD
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
300000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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500000 shares
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311800000 USD
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293500000 USD
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7500000 USD
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7200000 USD
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70700000 USD
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23700000 USD
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17900000 USD
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P15Y0M
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3549700000 USD
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290700000 USD
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2137100000 USD
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25400000 USD
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29900000 USD
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2156800000 USD
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437500000 USD
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700000 USD
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428400000 USD
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1086500000 USD
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187400000 USD
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26900000 USD
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22700000 USD
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26900000 USD
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70100000 USD
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349100000 USD
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300000 USD
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CY2018 us-gaap Net Income Loss
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1 segment
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1 reporting_unit
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600000 USD
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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20500000 USD
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24000000 USD
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29000000 USD
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350500000 USD
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CY2018 us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
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387500000 USD
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32500000 USD
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34600000 USD
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36500000 USD
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500000 USD
CY2017 us-gaap Operating Leases Rent Expense Sublease Rentals1
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400000 USD
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400000 USD
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12800000 USD
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38100000 USD
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CY2017 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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CY2018 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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1000000 USD
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0 USD
CY2017 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
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800000 USD
CY2018 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
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400000 USD
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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15800000 USD
CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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17700000 USD
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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1400000 USD
CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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2300000 USD
CY2018 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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1900000 USD
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16700000 USD
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20100000 USD
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CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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-100000 USD
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0 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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5600000 USD
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0 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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2100000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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1500000 USD
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43800000 USD
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3200000 USD
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1200000 USD
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200000 USD
CY2016 us-gaap Other Operating Activities Cash Flow Statement
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8600000 USD
CY2017 us-gaap Other Operating Activities Cash Flow Statement
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5800000 USD
CY2018 us-gaap Other Operating Activities Cash Flow Statement
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3800000 USD
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0 USD
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7400000 USD
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3700000 USD
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1791000000 USD
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41500000 USD
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2700000 USD
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1300000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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500000 USD
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100000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1100000 USD
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468300000 USD
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501400000 USD
CY2018 us-gaap Payments To Acquire Equipment On Lease
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771400000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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47800000 USD
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74600000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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77600000 USD
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0.01
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CY2018Q4 us-gaap Preferred Stock Shares Authorized
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CY2017Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
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0 USD
CY2018Q4 us-gaap Preferred Stock Value
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0 USD
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23000000 USD
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22300000 USD
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122100000 USD
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1235000000 USD
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561900000 USD
CY2018 us-gaap Proceeds From Lines Of Credit
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737500000 USD
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5700000 USD
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
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5900000 USD
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9700000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
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10000000 USD
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700000 USD
CY2018 us-gaap Proceeds From Stock Options Exercised
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500000 USD
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0 USD
CY2017 us-gaap Proceeds From Stock Plans
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1100000 USD
CY2018 us-gaap Proceeds From Stock Plans
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2000000 USD
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574400000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
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580800000 USD
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286300000 USD
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282500000 USD
CY2017Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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1382600000 USD
CY2018Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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1336000000 USD
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3757200000 USD
CY2018Q4 us-gaap Property Subject To Or Available For Operating Lease Gross
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3840700000 USD
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2374600000 USD
CY2018Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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2504700000 USD
CY2016 us-gaap Provision For Doubtful Accounts
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44400000 USD
CY2017 us-gaap Provision For Doubtful Accounts
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52400000 USD
CY2018 us-gaap Provision For Doubtful Accounts
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57800000 USD
CY2016 us-gaap Repayments Of Lines Of Credit
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881000000 USD
CY2017 us-gaap Repayments Of Lines Of Credit
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339200000 USD
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
604000000 USD
CY2016 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
12400000 USD
CY2017 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
16700000 USD
CY2018 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
17000000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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RepaymentsOfLongTermDebt
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CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
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14.28
CY2016 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1554800000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
389400000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
415800000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
457600000 USD
CY2017Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
491700000 USD
CY2017 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1754500000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
431300000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
485500000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
516200000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
543700000 USD
CY2018 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1976700000 USD
CY2017Q4 us-gaap Sale Leaseback Transaction Deferred Gain Net
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112900000 USD
CY2018Q4 us-gaap Sale Leaseback Transaction Deferred Gain Net
SaleLeasebackTransactionDeferredGainNet
116300000 USD
CY2016 us-gaap Sale Leaseback Transaction Gross Proceeds Financing Activities
SaleLeasebackTransactionGrossProceedsFinancingActivities
0 USD
CY2017 us-gaap Sale Leaseback Transaction Gross Proceeds Financing Activities
SaleLeasebackTransactionGrossProceedsFinancingActivities
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CY2018 us-gaap Sale Leaseback Transaction Gross Proceeds Financing Activities
SaleLeasebackTransactionGrossProceedsFinancingActivities
6400000 USD
CY2017Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
6200000 USD
CY2018Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
8000000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
275300000 USD
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
320200000 USD
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
312600000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
5500000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
10100000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
13400000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2200000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2186000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
203954 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
39.10
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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54953 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
35.71
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
440642 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
370273 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
37.25
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
37.56
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
161502 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0.0 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
35.74
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
34.40
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2018Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
203954 shares
CY2018Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
370273 shares
CY2018Q4 us-gaap Share Price
SharePrice
25.99
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0.0 USD
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y11M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y4M
CY2018Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
39.10
CY2018Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
37.56
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15416 shares
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-500000 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-100000 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1100000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10000000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
700000 USD
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
500000 USD
CY2014Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
395900000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2302000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
317700000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
510400000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
572700000 USD
CY2017 us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
-2000000 USD
CY2016Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.06666666667
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
7100000 USD
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
5500000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2700000 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2700000 shares
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2500000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
692000000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
692000000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
604500000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28300000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28600000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28900000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28300000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28300000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28400000 shares
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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;">Concentration of Credit Risk </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 Company's cash and cash equivalents are held in checking accounts, various investment grade institutional money market accounts or bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading the risk across multiple counterparties and monitoring the risk profiles of these counterparties. In addition, the Company has credit risk from financial instruments used in hedging activities. The Company limits its exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions.</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;">No single customer accounted for more than </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s equipment rental revenue during the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, no single customer accounted for more than </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> of accounts receivable.</font></div></div>
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<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-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Background </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </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;">Herc Holdings Inc. ("Herc Holdings" or the "Company") is one of the leading equipment rental suppliers with approximately </font><font style="font-family:inherit;font-size:10pt;">270</font><font style="font-family:inherit;font-size:10pt;"> locations as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, principally in North America. The Company conducts substantially all of its operations through subsidiaries, including Herc Rentals Inc. ("Herc"). Operations are conducted under the Herc Rentals brand in the United States and Canada and under the Hertz Equipment Rental brand in other international locations. With over 50 years of experience, the Company is a full-line equipment rental supplier offering a broad portfolio of equipment for rent. In addition to its principal business of equipment rental, the Company sells used equipment and contractor supplies such as construction consumables, tools, small equipment and safety supplies; provides repair, maintenance, equipment management services and safety training to certain of its customers; offers equipment re-rental services and provides on-site support to its customers; and provides ancillary services such as equipment transport, rental protection, cleaning, refueling and labor.</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 Company's classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. The Company's equipment rental business is supported by ProSolutions</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">TM</sup></font><font style="font-family:inherit;font-size:10pt;">, its industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and its ProContractor professional grade tools. </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;">On June 30, 2016, the Company, in its previous form as the holding company of both the existing equipment rental operations as well as the former vehicle rental operations (in its form prior to the Spin-Off, "Hertz Holdings"), completed a spin-off (the "Spin-Off") of its global vehicle rental business through a dividend to stockholders of all of the issued and outstanding common stock of Hertz Rental Car Holding Company, Inc., which was re-named Hertz Global Holdings, Inc. ("New Hertz") in connection with the Spin-Off. New Hertz is an independent public company that trades on the New York Stock Exchange under the symbol "HTZ" and continues to operate its global vehicle rental business through its operating subsidiaries including The Hertz Corporation ("THC"). The Company changed its name to Herc Holdings Inc. on June 30, 2016, and trades on the New York Stock Exchange under the symbol &#8220;HRI.&#8221;</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 accounting purposes, due to the relative significance of New Hertz to Hertz Holdings, New Hertz was considered the spinnor or divesting entity in the Spin-Off and Herc Holdings was considered the spinnee or divested entity. As a result, despite the legal form of the transaction, New Hertz was the &#8220;accounting successor&#8221; to Hertz Holdings. Under the accounting rules, the historical financial information of New Hertz is required to reflect the financial information of Hertz Holdings, as if New Hertz spun off Herc Holdings in the Spin-Off. In contrast, the historical financial information of Herc Holdings, including certain information presented in this Report, reflects the financial information of the equipment rental business and certain parent legal entities of Herc as historically operated as part of Hertz Holdings, as if Herc Holdings was a stand-alone company for all periods presented. The historical financial information of the Company presented in these consolidated financial statements is not necessarily indicative of what the Company's results of operations actually would have been had it operated as a separate, independent company for the year ended December 31, 2016.</font></div></div>
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:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</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;">Certain amounts in prior years have been reclassified to conform with the presentation in the current year.</font></div></div>

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