2018 Q2 Form 10-Q Financial Statement

#000000428118000109 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $3.573B $3.261B
YoY Change 9.57% 0.83%
Cost Of Revenue $2.903B $2.549B
YoY Change 13.89% 0.63%
Gross Profit $670.0M $712.0M
YoY Change -5.9% 1.57%
Gross Profit Margin 18.75% 21.83%
Selling, General & Admin $158.0M $200.0M
YoY Change -21.0% -16.32%
% of Gross Profit 23.58% 28.09%
Research & Development $29.00M $29.00M
YoY Change 0.0% -9.38%
% of Gross Profit 4.33% 4.07%
Depreciation & Amortization $144.0M $137.0M
YoY Change 5.11% -56.23%
% of Gross Profit 21.49% 19.24%
Operating Expenses $187.0M $229.0M
YoY Change -18.34% -15.5%
Operating Profit $324.0M $320.0M
YoY Change 1.25% 13.07%
Interest Expense $89.00M $24.00M
YoY Change 270.83% -80.65%
% of Operating Profit 27.47% 7.5%
Other Income/Expense, Net -$41.00M $132.0M
YoY Change -131.06% 676.47%
Pretax Income $194.0M $269.0M
YoY Change -27.88% 52.84%
Income Tax $74.00M $57.00M
% Of Pretax Income 38.14% 21.19%
Net Earnings $120.0M $212.0M
YoY Change -43.4% 57.04%
Net Earnings / Revenue 3.36% 6.5%
Basic Earnings Per Share $0.25 $0.44
Diluted Earnings Per Share $0.24 $0.43
COMMON SHARES
Basic Shares Outstanding 483.0M shares 441.0M shares
Diluted Shares Outstanding 502.0M shares 462.0M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.455B $1.785B
YoY Change -18.49% -7.47%
Cash & Equivalents $1.455B $1.785B
Short-Term Investments
Other Short-Term Assets $324.0M $305.0M
YoY Change 6.23% -52.12%
Inventory $2.659B $2.416B
Prepaid Expenses
Receivables $1.159B $1.170B
Other Receivables $478.0M $357.0M
Total Short-Term Assets $6.075B $6.033B
YoY Change 0.7% -25.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.582B $5.507B
YoY Change 1.36% -63.33%
Goodwill $4.518B $5.215B
YoY Change -13.37% -3.35%
Intangibles $963.0M
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $455.0M $1.271B
YoY Change -64.2% -62.78%
Total Long-Term Assets $12.14B $13.07B
YoY Change -7.11% -53.39%
TOTAL ASSETS
Total Short-Term Assets $6.075B $6.033B
Total Long-Term Assets $12.14B $13.07B
Total Assets $18.22B $19.11B
YoY Change -4.64% -47.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.024B $1.667B
YoY Change 21.42% -37.45%
Accrued Expenses $477.0M $487.0M
YoY Change -2.05% -39.88%
Deferred Revenue
YoY Change
Short-Term Debt $45.00M $48.00M
YoY Change -6.25% 45.45%
Long-Term Debt Due $3.000M
YoY Change
Total Short-Term Liabilities $2.977B $2.658B
YoY Change 12.0% -51.57%
LONG-TERM LIABILITIES
Long-Term Debt $6.312B $6.796B
YoY Change -7.12% -17.9%
Other Long-Term Liabilities $3.712B $3.899B
YoY Change -4.8% -50.29%
Total Long-Term Liabilities $6.312B $6.796B
YoY Change -7.12% -57.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.977B $2.658B
Total Long-Term Liabilities $6.312B $6.796B
Total Liabilities $13.00B $13.35B
YoY Change -2.64% -38.21%
SHAREHOLDERS EQUITY
Retained Earnings -$1.073B -$567.0M
YoY Change 89.24% -106.39%
Common Stock $483.0M $441.0M
YoY Change 9.52% -68.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.204B $5.740B
YoY Change
Total Liabilities & Shareholders Equity $18.22B $19.11B
YoY Change -4.64% -47.13%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $120.0M $212.0M
YoY Change -43.4% 57.04%
Depreciation, Depletion And Amortization $144.0M $137.0M
YoY Change 5.11% -56.23%
Cash From Operating Activities $176.0M $79.00M
YoY Change 122.78% -76.2%
INVESTING ACTIVITIES
Capital Expenditures -$171.0M -$126.0M
YoY Change 35.71% -54.51%
Acquisitions
YoY Change
Other Investing Activities $288.0M $195.0M
YoY Change 47.69% -66.84%
Cash From Investing Activities $117.0M $69.00M
YoY Change 69.57% -77.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.00M -912.0M
YoY Change -96.16% 812.0%
NET CHANGE
Cash From Operating Activities 176.0M 79.00M
Cash From Investing Activities 117.0M 69.00M
Cash From Financing Activities -35.00M -912.0M
Net Change In Cash 258.0M -764.0M
YoY Change -133.77% -240.7%
FREE CASH FLOW
Cash From Operating Activities $176.0M $79.00M
Capital Expenditures -$171.0M -$126.0M
Free Cash Flow $347.0M $205.0M
YoY Change 69.27% -66.34%

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us-gaap Income Loss From Continuing Operations
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CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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194000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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393000000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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534000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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120000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2017Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2018Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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130000000 USD
CY2017Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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214000000 USD
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52000000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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106000000 USD
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us-gaap Income Tax Reconciliation Other Adjustments
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CY2018Q2 us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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4000000 USD
CY2018Q2 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Payable Trade
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218000000 USD
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Taxes Payable
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121000000 USD
us-gaap Increase Decrease In Accrued Taxes Payable
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37000000 USD
us-gaap Increase Decrease In Inventories
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150000000 USD
us-gaap Increase Decrease In Inventories
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220000000 USD
CY2018Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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5000000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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5000000 shares
us-gaap Increase Decrease In Other Noncurrent Assets
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60000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
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4000000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Receivables
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567000000 USD
us-gaap Increase Decrease In Receivables
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709000000 USD
CY2017Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2017Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
5000000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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5000000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments Of Distributions To Affiliates
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us-gaap Payments Of Ordinary Dividends
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us-gaap Payments Of Ordinary Dividends
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments For Proceeds From Productive Assets
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us-gaap Payments Of Debt Extinguishment Costs
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CY2017Q2 us-gaap Pension And Other Postretirement Benefit Contributions
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CY2018Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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us-gaap Pension Contributions
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us-gaap Pension Contributions
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us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2012Q1 us-gaap Proceeds From Sale Of Finance Receivables
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us-gaap Proceeds From Sale Of Finance Receivables
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285000000 USD
us-gaap Proceeds From Sale Of Finance Receivables
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420000000 USD
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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CY2017Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2018Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2017Q4 us-gaap Property Plant And Equipment Net
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us-gaap Repayments Of Long Term Debt
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CY2017Q2 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2018Q2 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2017Q4 us-gaap Restricted Cash
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CY2018Q2 us-gaap Restricted Cash
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CY2017Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
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us-gaap Restructuring And Related Cost Number Of Positions Eliminated
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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RetainedEarningsAccumulatedDeficit
-1073000000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3260000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6451000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3609000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7053000000 USD
CY2017Q2 us-gaap Revenues
Revenues
3261000000 USD
us-gaap Revenues
Revenues
6453000000 USD
CY2018Q2 us-gaap Revenues
Revenues
3573000000 USD
us-gaap Revenues
Revenues
7018000000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
200000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
417000000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
158000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
330000000 USD
CY2017Q2 us-gaap Severance Costs1
SeveranceCosts1
7000000 USD
us-gaap Severance Costs1
SeveranceCosts1
7000000 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
38000000 USD
CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
45000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
4910000000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
5204000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5141000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5753000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4924000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5218000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-16000000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
75000000 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
69000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
462000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
500000000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
502000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
502000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
441000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
440000000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483000000 shares

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