2016 Form 10-K Financial Statement

#000143774917003385 Filed on February 28, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $1.185B $280.8M $289.0M
YoY Change 4.67% 1.58% 9.12%
Cost Of Revenue $745.1M $173.8M $177.9M
YoY Change 7.3% 3.15% 7.11%
Gross Profit $440.0M $107.1M $111.1M
YoY Change 0.49% -0.74% 12.51%
Gross Profit Margin 37.12% 38.14% 38.44%
Selling, General & Admin $328.0M $79.50M $81.01M
YoY Change -0.34% -4.68% 8.44%
% of Gross Profit 74.56% 74.23% 72.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.12M $8.500M $8.600M
YoY Change -12.83% 7.59% 56.36%
% of Gross Profit 6.62% 7.94% 7.74%
Operating Expenses $357.2M $88.00M $89.59M
YoY Change -1.49% -3.61% 11.7%
Operating Profit $82.79M $19.04M $21.50M
YoY Change 10.05% 14.62% 16.02%
Interest Expense $9.470M -$2.300M $2.674M
YoY Change -5.98% 15.0% 234.25%
% of Operating Profit 11.44% -12.08% 12.44%
Other Income/Expense, Net $1.184M -$100.0K -$52.00K
YoY Change -175.95% -84.48%
Pretax Income $74.51M $16.60M $18.77M
YoY Change 17.15% 12.93% 7.92%
Income Tax $27.92M $5.900M $7.226M
% Of Pretax Income 37.48% 35.54% 38.5%
Net Earnings $46.58M $10.75M $11.55M
YoY Change 18.33% 22.67% -0.07%
Net Earnings / Revenue 3.93% 3.83% 4.0%
Basic Earnings Per Share $2.45 $0.56 $0.60
Diluted Earnings Per Share $2.40 $0.55 $0.59
COMMON SHARES
Basic Shares Outstanding 18.99M 19.10M 19.32M
Diluted Shares Outstanding 19.42M 19.37M 19.56M

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.000M $7.700M $5.700M
YoY Change -22.08% -36.36% -24.0%
Cash & Equivalents $6.000M $7.747M $5.722M
Short-Term Investments
Other Short-Term Assets $11.70M $10.00M $11.10M
YoY Change 17.0% -2.91% -20.14%
Inventory
Prepaid Expenses
Receivables $281.4M $257.0M $271.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $299.1M $274.7M $288.5M
YoY Change 8.88% -4.74% 5.63%
LONG-TERM ASSETS
Property, Plant & Equipment $40.50M $45.43M $45.08M
YoY Change -10.79% 5.05% 55.98%
Goodwill $687.4M $690.6M
YoY Change -0.05%
Intangibles $58.90M $63.41M
YoY Change -23.22%
Long-Term Investments
YoY Change
Other Assets $16.10M $12.46M $13.12M
YoY Change 16.67% -1.98% -6.28%
Total Long-Term Assets $786.5M $805.5M $813.6M
YoY Change -2.37% -1.99% 56.34%
TOTAL ASSETS
Total Short-Term Assets $299.1M $274.7M $288.5M
Total Long-Term Assets $786.5M $805.5M $813.6M
Total Assets $1.086B $1.080B $1.102B
YoY Change 0.49% -2.71% 38.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $70.60M $63.74M $58.12M
YoY Change 10.83% -3.07% 30.01%
Accrued Expenses $96.60M $43.00M $91.00M
YoY Change 12.2% 1.64% 7.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $196.7M $183.0M $196.1M
YoY Change 7.49% -9.97% 27.51%
LONG-TERM LIABILITIES
Long-Term Debt $259.4M $311.5M $332.2M
YoY Change -16.73% -11.0% 188.33%
Other Long-Term Liabilities $24.30M $13.39M $16.92M
YoY Change -16.78% 58.0% -28.89%
Total Long-Term Liabilities $283.7M $324.9M $349.1M
YoY Change -16.73% -9.37% 151.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $196.7M $183.0M $196.1M
Total Long-Term Liabilities $283.7M $324.9M $349.1M
Total Liabilities $519.6M $557.0M $584.7M
YoY Change -6.71% -8.63% 91.82%
SHAREHOLDERS EQUITY
Retained Earnings $325.3M $314.6M
YoY Change 13.77%
Common Stock $21.00K $21.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $74.67M $67.53M
YoY Change 49.36%
Treasury Stock Shares
Shareholders Equity $566.0M $523.3M $517.4M
YoY Change
Total Liabilities & Shareholders Equity $1.086B $1.080B $1.102B
YoY Change 0.49% -2.71% 38.89%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $46.58M $10.75M $11.55M
YoY Change 18.33% 22.67% -0.07%
Depreciation, Depletion And Amortization $29.12M $8.500M $8.600M
YoY Change -12.83% 7.59% 56.36%
Cash From Operating Activities $80.06M $33.40M $37.90M
YoY Change 4.9% -44.05% 38.83%
INVESTING ACTIVITIES
Capital Expenditures -$13.80M -$2.900M -$4.000M
YoY Change 8.66% 60.0%
Acquisitions $100.0K
YoY Change -94.5%
Other Investing Activities -$100.0K $0.00 $0.00
YoY Change -94.44% -100.0% -100.0%
Cash From Investing Activities -$13.89M -$2.900M -$4.000M
YoY Change -4.2% -98.99% -6.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $530.7M
YoY Change 26.28%
Cash From Financing Activities -66.97M -28.20M -35.70M
YoY Change 3.92% -112.06% 54.55%
NET CHANGE
Cash From Operating Activities 80.06M 33.40M 37.90M
Cash From Investing Activities -13.89M -2.900M -4.000M
Cash From Financing Activities -66.97M -28.20M -35.70M
Net Change In Cash -1.224M 2.300M -1.800M
YoY Change -72.75% -54.9% 1700.0%
FREE CASH FLOW
Cash From Operating Activities $80.06M $33.40M $37.90M
Capital Expenditures -$13.80M -$2.900M -$4.000M
Free Cash Flow $93.86M $36.30M $41.90M
YoY Change 5.43% -39.2% 40.6%

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CY2016 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Risks and Uncertainties</div></div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 23.1pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and contract receivables. The majority of the Company<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#x2019;s cash transactions are processed through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> U.S. commercial bank. Cash held domestically in excess of daily requirements is used to reduce any amounts outstanding under the Company&#x2019;s Credit Facility. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> the Company held approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.4</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$6.7</div> million, respectively, of cash in foreign bank accounts. To date, the Company has not incurred losses related to cash and cash equivalents.</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 23.1pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Company<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#x2019;s contract receivables consist principally of contract receivables from agencies and departments of, as well as from prime contractors to, the federal government, other governments, and commercial organizations. The Company believes that </div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">this </div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">credit risk with</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"> respect to </div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">contract receivables, is limited due to the credit worthiness of the U.S. government. Contract receivable credit risk is also limited due to a large number of customers in differing agencies of the U.S. government. The Company extends credit in the normal course of operations and does not require collateral from its clients.</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 23.1pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Company has historically been, and continues to be, heavily dependent upon contracts with the <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">federal government and is subject to audit by agencies of the federal government. Such audits determine, among other things, whether an adjustment of invoices rendered to the government is appropriate under the underlying terms of the contracts. Management does not expect any significant adjustments as a result of government audits that will adversely affect the Company&#x2019;s financial position.</div></div></div></div></div>
CY2016Q4 us-gaap Contract Receivable Retainage
ContractReceivableRetainage
5088000
CY2015Q4 us-gaap Contract Receivable Retainage
ContractReceivableRetainage
5486000
CY2016 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
745137000
CY2015 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
694436000
CY2014 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
654946000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
12979000
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
14797000
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
13383000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1932000
CY2015 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1475000
CY2014 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3563000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18425000
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18941000
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
20097000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3514000
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2669000
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3151000
CY2016 us-gaap Deferred Compensation Arrangement With Individual Cash Awards Granted Percentage
DeferredCompensationArrangementWithIndividualCashAwardsGrantedPercentage
0.8
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
8872000
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
4562000
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3264000
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5800000
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5800000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-596000
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
216000
CY2014 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
360000
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9498000
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5290000
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4023000
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
72763000
CY2015Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
64256000
CY2016Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
15600000
CY2015Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
15785000
CY2016Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
29394000
CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
30523000
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1222000
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
512000
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
399000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
33649000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
30930000
CY2016Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
34780000
CY2015Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
31863000
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
1371000
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
933000
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
2631000
CY2015Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
1914000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
2592000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
2416000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
55000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
149000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
3662000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
2908000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4292000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4792000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
1008000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
831000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
5423000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
5376000
CY2016Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
5349000
CY2015Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
1879000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1131000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
933000
CY2016Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
39114000
CY2015Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
33326000
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1184000
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1559000
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-958000
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
17000
CY2016Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
51842000
CY2015Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
44867000
CY2016Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
39114000
CY2015Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
33326000
CY2016Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
1654000
CY2015Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
1040000
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
6664000
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
7186000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
14900000
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
13100000
CY2014 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
12300000
CY2016 us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
1
CY2016Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
12389000
CY2015Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
5547000
CY2016 us-gaap Depreciation
Depreciation
16300000
CY2015 us-gaap Depreciation
Depreciation
15800000
CY2014 us-gaap Depreciation
Depreciation
13100000
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
16638000
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
16222000
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
13369000
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29119000
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33406000
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23806000
CY2016 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Derivative Instruments</div></div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 27pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">Derivative instruments designated as cash flow hedges are recorded on the consolidated balance sheet at fair value<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">, at the reporting date, and the effective portion of the hedge is recorded in other comprehensive (loss) income on the consolidated statement of comprehensive income and reclassified to earnings in the period that the hedged instruments affect earnings. Management reviews the effectiveness of the hedges on a quarterly basis, and any ineffective portion is immediately reclassified to earnings. </div></div></div></div></div>
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.45
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-403000
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1746000
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1004000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.375
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.381
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.376
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.003
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.003
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.006
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.008
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.019
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.02
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.01
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
CY2016 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.01
CY2015 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.019
CY2014 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
-0.023
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.042
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.01
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.008
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.005
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.007
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
44003000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
43118000
CY2016Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
33624000
CY2016 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1307000
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
3543000
CY2015 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
8356000
CY2014 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-6453000
CY2016 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-639000
CY2015 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-320000
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1718000
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2792000
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
170000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
71235000
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
60218000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
12023000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10846000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4082000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4527000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6124000
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8432000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
117269000
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
119117000
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46034000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
58899000
CY2016Q4 us-gaap Foreign Financial Institutions Actual Deposits
ForeignFinancialInstitutionsActualDeposits
5400000
CY2015Q4 us-gaap Foreign Financial Institutions Actual Deposits
ForeignFinancialInstitutionsActualDeposits
6700000
CY2015Q4 us-gaap Goodwill
Goodwill
687404000
CY2014Q4 us-gaap Goodwill
Goodwill
687778000
CY2016Q4 us-gaap Goodwill
Goodwill
683683000
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
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-4833000
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us-gaap Goodwill Impairment Loss
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54150000
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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5348000
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10553000
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74507000
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63600000
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64150000
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27923000
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24231000
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IncomeTaxExpenseBenefit
24120000
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21094000
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16315000
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24335000
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40484000
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45425000
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-2374000
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9424000
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10252000
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-4522000
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683000
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-6535000
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-4071000
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-707000
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2367000
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-2099000
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1140000
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-13208000
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4286000
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-2447000
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519567000
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1085571000
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1080290000
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196720000
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182984000
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1743000
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29020000
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2713000
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2464000
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494000
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427000
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328000
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389000
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9470000
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3400000
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0.0025
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0.0025
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30603000
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702000
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702000
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7900000
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79563000
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76319000
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218752000
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33278000
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35591000
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52284000
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39500000
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40000000
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35800000
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39900000
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35700000
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100000
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100000
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100000
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2917000
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4630000
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14301000
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12456000
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-4324000
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-5010000
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-1491000
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-4321000
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-5676000
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-2017000
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4000000
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3000
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-666000
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-526000
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-5010000
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-1491000
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-2149000
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-5010000
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-1491000
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2200000
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1000000
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400000
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2175000
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6580000
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5252000
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8744000
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13387000
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637000
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3015000
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1245000
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100000
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1818000
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347871000
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13791000
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12682000
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10635000
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0
CY2015Q4 us-gaap Preferred Stock Shares Issued
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0
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0
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11724000
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10032000
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478584000
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381745000
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733032000
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-13823000
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3034000
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932000
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1831000
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114560000
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116628000
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40484000
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45425000
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1089000
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268000
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272000
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420265000
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1843000
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1362000
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371890000
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325306000
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288951000
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28.47
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13
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587407
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29.56
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11900000
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474091000
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StockholdersEquity
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43000
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9.05
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41
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P5Y182D
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P5Y255D
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y255D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1300000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2000000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1800000
CY2016Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
400000
CY2016 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
24401
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1831000
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
932000
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3034000
CY2013Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35
CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
75
CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
37700000
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
88695000
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
74673000
CY2016Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
108432000
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
174000
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
200000
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
12000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
925000
CY2014 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
140000
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
140000
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1000000
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
300000
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 23.05pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">The preparation of financial statements in conformity with <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</div></div></div></div></div>
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19416000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19663000
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19997000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19273000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19293000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19329000
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19512000
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19838000
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19706000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19556000
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19373000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18989000
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19335000
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19608000
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18994000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19008000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18965000
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18988000
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19450000
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19475000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19316000
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19102000

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