2011 Q3 Form 10-Q Financial Statement

#000095012311091227 Filed on October 21, 2011

View on sec.gov

Income Statement

Concept 2011 Q3 2010 Q4 2010 Q3
Revenue $764.3M $639.3M $685.0M
YoY Change 11.58% 8.01% 15.34%
Cost Of Revenue $512.0M $432.5M $449.8M
YoY Change 13.83% 8.1% 12.17%
Gross Profit $252.3M $206.8M $235.2M
YoY Change 7.27% 7.82% 21.93%
Gross Profit Margin 33.01% 32.35% 34.34%
Selling, General & Admin $127.0M $115.8M $117.6M
YoY Change 7.99% 3.12% 15.75%
% of Gross Profit 50.34% 56.0% 50.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.90M $17.70M $18.00M
YoY Change -6.11% -9.23% 7.78%
% of Gross Profit 6.7% 8.56% 7.65%
Operating Expenses $127.0M $115.8M $117.6M
YoY Change 7.99% 3.12% 15.75%
Operating Profit $125.3M $91.00M $117.6M
YoY Change 6.55% 14.47% 28.81%
Interest Expense -$7.300M -$8.100M -$7.800M
YoY Change -6.41% 6.58% 1.3%
% of Operating Profit -5.83% -8.9% -6.63%
Other Income/Expense, Net $0.00 -$100.0K -$600.0K
YoY Change -100.0% -94.44% -300.0%
Pretax Income $118.0M $68.10M $109.2M
YoY Change 8.06% -2.85% 30.15%
Income Tax $34.70M $17.90M $37.50M
% Of Pretax Income 29.41% 26.28% 34.34%
Net Earnings $82.40M $49.70M $71.30M
YoY Change 15.57% 0.2% 24.43%
Net Earnings / Revenue 10.78% 7.77% 10.41%
Basic Earnings Per Share $1.38 $0.82 $1.19
Diluted Earnings Per Share $1.37 $0.81 $1.18
COMMON SHARES
Basic Shares Outstanding 59.30M shares 59.80M shares
Diluted Shares Outstanding 59.90M shares 60.20M shares

Balance Sheet

Concept 2011 Q3 2010 Q4 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $518.5M $529.5M $354.2M
YoY Change 46.39% 102.8% -14.11%
Cash & Equivalents $511.8M $520.7M $342.8M
Short-Term Investments $6.700M $8.800M $11.40M
Other Short-Term Assets $59.50M $56.40M $67.50M
YoY Change -11.85% -17.9% 51.35%
Inventory $331.2M $298.4M $294.0M
Prepaid Expenses
Receivables $455.3M $341.8M $409.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.365B $1.226B $1.125B
YoY Change 21.28% 34.54% 8.49%
LONG-TERM ASSETS
Property, Plant & Equipment $357.3M $358.3M $357.7M
YoY Change -0.11% -2.85% 8.69%
Goodwill $722.7M $724.0M $746.6M
YoY Change -3.2% -0.03%
Intangibles $259.9M $273.5M
YoY Change
Long-Term Investments $39.30M $30.20M $31.00M
YoY Change 26.77% 18.43% 1.64%
Other Assets $66.40M $93.70M $72.40M
YoY Change -8.29% 26.79% 17.15%
Total Long-Term Assets $1.446B $1.480B $1.484B
YoY Change -2.59% -0.79% 25.49%
TOTAL ASSETS
Total Short-Term Assets $1.365B $1.226B $1.125B
Total Long-Term Assets $1.446B $1.480B $1.484B
Total Assets $2.810B $2.706B $2.609B
YoY Change 7.7% 12.61% 17.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $221.0M $160.8M $172.9M
YoY Change 27.82% 22.94% 29.22%
Accrued Expenses $173.7M $141.6M $163.9M
YoY Change 5.98% -8.47% -34.6%
Deferred Revenue
YoY Change
Short-Term Debt $2.300M $1.800M $2.300M
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $529.8M $445.0M $477.4M
YoY Change 10.98% 6.33% 18.11%
LONG-TERM LIABILITIES
Long-Term Debt $596.2M $595.9M $502.1M
YoY Change 18.74% 19.85% 0.92%
Other Long-Term Liabilities $201.6M $44.90M $196.8M
YoY Change 2.44% -75.74% 2.45%
Total Long-Term Liabilities $797.8M $640.8M $698.9M
YoY Change 14.15% -6.08% 1.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $529.8M $445.0M $477.4M
Total Long-Term Liabilities $797.8M $640.8M $698.9M
Total Liabilities $1.328B $1.242B $1.176B
YoY Change 12.86% 12.85% 7.21%
SHAREHOLDERS EQUITY
Retained Earnings $1.468B $1.339B
YoY Change 10.81%
Common Stock $91.80M $201.9M
YoY Change 27.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.477B $1.459B $1.429B
YoY Change
Total Liabilities & Shareholders Equity $2.810B $2.706B $2.609B
YoY Change 7.7% 12.61% 17.55%

Cashflow Statement

Concept 2011 Q3 2010 Q4 2010 Q3
OPERATING ACTIVITIES
Net Income $82.40M $49.70M $71.30M
YoY Change 15.57% 0.2% 24.43%
Depreciation, Depletion And Amortization $16.90M $17.70M $18.00M
YoY Change -6.11% -9.23% 7.78%
Cash From Operating Activities $100.8M $90.20M $82.90M
YoY Change 21.59% -10.34% -42.19%
INVESTING ACTIVITIES
Capital Expenditures -$10.20M -$13.50M -$11.50M
YoY Change -11.3% 33.66% 105.36%
Acquisitions
YoY Change
Other Investing Activities -$3.400M $2.300M -$1.600M
YoY Change 112.5% -100.65% -121.33%
Cash From Investing Activities -$13.60M -$11.20M -$13.10M
YoY Change 3.82% -96.9% -789.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -77.70M 97.60M -21.90M
YoY Change 254.79% -8.18% 25.14%
NET CHANGE
Cash From Operating Activities 100.8M 90.20M 82.90M
Cash From Investing Activities -13.60M -11.20M -13.10M
Cash From Financing Activities -77.70M 97.60M -21.90M
Net Change In Cash 9.500M 176.6M 47.90M
YoY Change -80.17% -214.23% -62.52%
FREE CASH FLOW
Cash From Operating Activities $100.8M $90.20M $82.90M
Capital Expenditures -$10.20M -$13.50M -$11.50M
Free Cash Flow $111.0M $103.7M $94.40M
YoY Change 17.58% -6.32% -36.64%

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us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-1300000 USD
hubb Disclosure Of Date Of Annual Goodwill Impairment Test
DisclosureOfDateOfAnnualGoodwillImpairmentTest
2011-04-01
us-gaap Future Amortization Expense Year Five
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12500000 USD
CY2010Q4 us-gaap Inventory Raw Materials Net Of Reserves
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106000000 USD
CY2010Q4 us-gaap Inventory Work In Process Net Of Reserves
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62400000 USD
CY2010Q4 us-gaap Inventory Finished Goods Net Of Reserves
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206400000 USD
CY2010Q4 us-gaap Fifo Inventory Amount
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374800000 USD
CY2011Q3 us-gaap Inventory Lifo Reserve
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82900000 USD
CY2010Q4 us-gaap Inventory Lifo Reserve
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76400000 USD
CY2011Q3 us-gaap Finite Lived Intangible Assets Gross
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265000000 USD
CY2011Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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-61300000 USD
CY2010Q4 us-gaap Finite Lived Intangible Assets Gross
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266700000 USD
CY2010Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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-49800000 USD
CY2011Q3 hubb Total Gross Other Intangible Assets
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321200000 USD
CY2010Q4 hubb Total Gross Other Intangible Assets
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323300000 USD
us-gaap Amortization Of Intangible Assets
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12400000 USD
us-gaap Future Amortization Expense Remainder Of Fiscal Year
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3600000 USD
us-gaap Future Amortization Expense Year One
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15400000 USD
us-gaap Future Amortization Expense Year Two
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15000000 USD
us-gaap Future Amortization Expense Year Three
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14500000 USD
us-gaap Future Amortization Expense Year Four
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13200000 USD
us-gaap Amortization Of Intangible Assets
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12300000 USD
CY2010Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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56600000 USD
CY2011Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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56200000 USD
CY2011Q3 us-gaap Deferred Revenue Current
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33600000 USD
CY2011Q3 us-gaap Accrued Marketing Costs Current
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27300000 USD
CY2011Q3 us-gaap Other Liabilities Current
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68400000 USD
CY2010Q4 us-gaap Other Liabilities Current
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60300000 USD
CY2010Q4 us-gaap Deferred Revenue Current
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34900000 USD
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15200000 USD
CY2010Q4 us-gaap Accrued Marketing Costs Current
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31200000 USD
CY2011Q3 us-gaap Additional Paid In Capital Common Stock
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91200000 USD
CY2010Q4 us-gaap Additional Paid In Capital Common Stock
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201300000 USD
CY2011Q3 us-gaap Retained Earnings Accumulated Deficit
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1468300000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
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1338600000 USD
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91700000 USD
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95600000 USD
CY2011Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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7600000 USD
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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14600000 USD
CY2011Q3 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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900000 USD
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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500000 USD
CY2011Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-83000000 USD
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-81300000 USD
hubb Schedule Of Total Equity Tabletextblock
ScheduleOfTotalEquityTabletextblock
<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 430px; text-align:left;border-color:#000000;min-width:430px;">&#160;</td><td colspan="2" style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">September 30,</font></td><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;">&#160;</td><td colspan="2" style="width: 75px; text-align:center;border-color:#000000;min-width:75px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">December 31,</font></td></tr><tr style="height: 17px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 430px; text-align:left;border-color:#000000;min-width:430px;">&#160;</td><td colspan="2" style="width: 80px; 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CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-800000 USD
CY2011Q3 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
200000 USD
CY2010Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q3 us-gaap Common Stock Value
CommonStockValue
600000 USD
CY2010Q4 us-gaap Common Stock Value
CommonStockValue
600000 USD
hubb Schedule Of Changes In Total Equity Tabletextblock
ScheduleOfChangesInTotalEquityTabletextblock
<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 175px; text-align:center;border-color:#000000;min-width:175px;">&#160;</td><td colspan="17" style="width: 468px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:468px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">Nine Months Ended September 30,</font></td></tr><tr style="height: 15px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 175px; text-align:left;border-color:#000000;min-width:175px;">&#160;</td><td colspan="8" style="width: 229px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:229px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">2011</font></td><td style="width: 10px; 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border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:5px;">&#160;</td><td colspan="2" style="width: 84px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:84px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">Noncontrolling interest</font></td><td style="width: 5px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:5px;">&#160;</td><td colspan="2" style="width: 57px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:57px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">Total Equity</font></td></tr><tr style="height: 16px"><td colspan="2" style="width: 180px; text-align:left;border-color:#000000;min-width:180px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Equity, January 1,</font></td><td style="width: 8px; 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text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 76px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:76px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;"> 5.4</font></td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 49px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:49px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;"> 1,482.5</font></td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;">&#160;</td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 70px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:70px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;"> 1,428.9</font></td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 76px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:76px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;"> 4.0</font></td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;">&#160;</td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 49px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:49px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;"> 1,432.9</font></td></tr></table></div>
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198000000 USD
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6900000 USD
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179800000 USD
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2400000 USD
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1432900000 USD
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400000 USD
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1000000 USD
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1800000 USD
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ComprehensiveIncomeNetOfTax
196200000 USD
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62300000 USD
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1200000 USD
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900000 USD
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200000 USD
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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
63200000 USD
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CY2011Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
1000000 USD
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14200000 USD
CY2010Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
800000 USD
CY2010Q3 us-gaap Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease
200000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
86700000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
400000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
86300000 USD
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OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-200000 USD
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300000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1100000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
178700000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
2500000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
600000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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7800000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
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82200000 USD
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166800000 USD
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400000 shares
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400000 shares
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60600000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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700000 shares
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59900000 shares
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5200000 USD
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CY2011Q3 us-gaap Standard Product Warranty Accrual
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6600000 USD
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CY2011Q3 us-gaap Guarantee Obligations Maximum Exposure
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0 USD
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0 USD
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0 USD
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36400000 USD
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3700000 USD
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CY2010Q4 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
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900000 USD
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300000 USD
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18 pure
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Sep-12
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400000 USD
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500000 USD
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1200000 USD
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CY2011Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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800000 USD
CY2010Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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-300000 USD
CY2010Q3 us-gaap Cash Flow Hedge Gain Loss Reclassified To Cost Of Sales Net
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-100000 USD
CY2011Q3 us-gaap Cash Flow Hedge Gain Loss Reclassified To Cost Of Sales Net
CashFlowHedgeGainLossReclassifiedToCostOfSalesNet
-200000 USD
CY2011Q3 us-gaap Subsequent Event Description
SubsequentEventDescription
Credit facility
CY2011Q3 us-gaap Subsequent Event Amount
SubsequentEventAmount
500000000 USD
CY2011Q3 us-gaap Subsequent Events Date
SubsequentEventsDate
2011-10-31

Files In Submission

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0000950123-11-091227-index-headers.html Edgar Link pending
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0000950123-11-091227.txt Edgar Link pending
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