2017 Q2 Form 10-Q Financial Statement

#000005143417000040 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2 2016 Q1
Revenue $5.383B $4.914B $4.717B
YoY Change 9.54% -14.0% -14.5%
Cost Of Revenue $3.749B $4.112B $3.611B
YoY Change -8.83% 3.58% -5.99%
Gross Profit $1.634B $802.0M $1.106B
YoY Change 103.74% -54.07% -33.89%
Gross Profit Margin 30.35% 16.32% 23.45%
Selling, General & Admin $393.0M $386.0M $376.0M
YoY Change 1.81% -4.22% -7.39%
% of Gross Profit 24.05% 48.13% 34.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $334.0M $301.0M $284.0M
YoY Change 10.96% -8.23% -12.07%
% of Gross Profit 20.44% 37.53% 25.68%
Operating Expenses $393.0M $386.0M $376.0M
YoY Change 1.81% -4.22% -7.39%
Operating Profit $157.0M $627.0M $497.0M
YoY Change -74.96% -7.25% -20.22%
Interest Expense $186.0M $172.0M $160.0M
YoY Change 8.14% 4.88% 0.63%
% of Operating Profit 118.47% 27.43% 32.19%
Other Income/Expense, Net -$46.00M $0.00 -$2.000M
YoY Change -100.0% -33.33%
Pretax Income -$23.00M -$76.00M $307.0M
YoY Change -69.74% -128.57% -24.38%
Income Tax -$87.00M -$9.000M $41.00M
% Of Pretax Income 13.36%
Net Earnings $80.00M $40.00M $334.0M
YoY Change 100.0% -82.38% 6.71%
Net Earnings / Revenue 1.49% 0.81% 7.08%
Basic Earnings Per Share $0.19 $0.10 $0.81
Diluted Earnings Per Share $0.19 $0.10 $0.81
COMMON SHARES
Basic Shares Outstanding 412.9M shares 411.2M shares 410.8M shares
Diluted Shares Outstanding 416.4M shares 414.7M shares 414.0M shares

Balance Sheet

Concept 2017 Q2 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.041B $1.254B $1.155B
YoY Change -16.99% -21.13% -26.71%
Cash & Equivalents $1.041B $1.254B $1.254B
Short-Term Investments
Other Short-Term Assets $552.0M $318.0M $268.0M
YoY Change 73.58% 30.86% 11.67%
Inventory $2.361B $2.165B $2.217B
Prepaid Expenses
Receivables $3.283B $2.837B $2.641B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.237B $6.871B $6.792B
YoY Change 5.33% -11.08% -11.33%
LONG-TERM ASSETS
Property, Plant & Equipment $14.04B $12.23B $12.04B
YoY Change 14.77% -2.61% -3.61%
Goodwill $3.409B $3.367B $3.354B
YoY Change 1.25% -8.65% -8.78%
Intangibles
YoY Change
Long-Term Investments $7.367B $7.302B $7.306B
YoY Change 0.89% 193.25% 201.65%
Other Assets $1.373B $1.169B $1.155B
YoY Change 17.45% -7.66% -10.12%
Total Long-Term Assets $26.64B $24.52B $24.25B
YoY Change 8.64% 19.9% 19.42%
TOTAL ASSETS
Total Short-Term Assets $7.237B $6.871B $6.792B
Total Long-Term Assets $26.64B $24.52B $24.25B
Total Assets $33.88B $31.39B $31.04B
YoY Change 7.92% 11.41% 11.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.362B $2.016B $2.065B
YoY Change 17.16% -26.53% -22.89%
Accrued Expenses $409.0M $415.0M $362.0M
YoY Change -1.45% 6.41% -1.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $824.0M $626.0M $551.0M
YoY Change 31.63% -31.13% -17.02%
Total Short-Term Liabilities $5.002B $4.082B $4.098B
YoY Change 22.54% -20.02% -14.2%
LONG-TERM LIABILITIES
Long-Term Debt $10.39B $8.820B $8.824B
YoY Change 17.82% -2.18% 4.29%
Other Long-Term Liabilities $457.0M $429.0M $434.0M
YoY Change 6.53% -10.25% -12.15%
Total Long-Term Liabilities $10.85B $9.249B $9.258B
YoY Change 17.3% -2.59% 3.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.002B $4.082B $4.098B
Total Long-Term Liabilities $10.85B $9.249B $9.258B
Total Liabilities $15.85B $13.33B $13.36B
YoY Change 18.9% -8.69% -2.73%
SHAREHOLDERS EQUITY
Retained Earnings $4.717B $4.657B $4.800B
YoY Change 1.29% 1.15% 5.54%
Common Stock $6.617B $6.603B $6.579B
YoY Change 0.21% -1.03% -0.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.681B $1.755B $1.756B
YoY Change -4.22% 17.16% 36.44%
Treasury Stock Shares 36.00M shares 37.71M shares 37.74M shares
Shareholders Equity $4.545B $4.024B $4.234B
YoY Change
Total Liabilities & Shareholders Equity $33.88B $31.39B $31.04B
YoY Change 7.92% 11.41% 11.0%

Cashflow Statement

Concept 2017 Q2 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $80.00M $40.00M $334.0M
YoY Change 100.0% -82.38% 6.71%
Depreciation, Depletion And Amortization $334.0M $301.0M $284.0M
YoY Change 10.96% -8.23% -12.07%
Cash From Operating Activities $641.0M $617.0M $620.0M
YoY Change 3.89% 436.52% -2.82%
INVESTING ACTIVITIES
Capital Expenditures -$290.0M -$328.0M -$309.0M
YoY Change -11.59% -7.34% -3.13%
Acquisitions
YoY Change
Other Investing Activities -$40.00M $0.00 $63.00M
YoY Change -100.0% -5.97%
Cash From Investing Activities -$330.0M -$328.0M -$364.0M
YoY Change 0.61% -9.14% -3.45%
FINANCING ACTIVITIES
Cash Dividend Paid $181.0M
YoY Change 7.1%
Common Stock Issuance & Retirement, Net $131.0M
YoY Change -4.38%
Debt Paid & Issued, Net $322.0M
YoY Change 15.0%
Cash From Financing Activities -266.0M -190.0M -$164.0M
YoY Change 40.0% -174.51% -69.96%
NET CHANGE
Cash From Operating Activities 641.0M 617.0M $620.0M
Cash From Investing Activities -330.0M -328.0M -$364.0M
Cash From Financing Activities -266.0M -190.0M -$164.0M
Net Change In Cash 45.00M 99.00M $92.00M
YoY Change -54.55% 1000.0% -132.28%
FREE CASH FLOW
Cash From Operating Activities $641.0M $617.0M $620.0M
Capital Expenditures -$290.0M -$328.0M -$309.0M
Free Cash Flow $931.0M $945.0M $929.0M
YoY Change -1.48% 101.49% -2.93%

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us-gaap Earnings Per Share Diluted
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y11M1D
CY2016Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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379000000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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414000000 USD
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2016Q4 us-gaap Goodwill
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CY2017Q2 us-gaap Goodwill
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CY2016Q4 us-gaap Goodwill Gross
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CY2017Q2 us-gaap Goodwill Gross
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CY2016Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2017Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
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us-gaap Goodwill Other Increase Decrease
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8000000 USD
us-gaap Goodwill Period Increase Decrease
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37000000 USD
CY2016Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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65000000 USD
CY2017Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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9000000 USD
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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us-gaap Income Loss From Continuing Operations
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CY2017Q2 us-gaap Income Loss From Continuing Operations
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80000000 USD
us-gaap Income Loss From Continuing Operations
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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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303000000 USD
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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215000000 USD
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40000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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80000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2016Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2017Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Tax Expense Benefit
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230000000 USD
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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370000000 USD
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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 Payments For Repurchase Of Common Stock
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Productive Assets
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us-gaap Pension Contributions
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us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Repayments Of Long Term Debt
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us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2016Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
422000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
844000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2200000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
51.78
CY2016Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
339000000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
659000000 USD
CY2017Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
390000000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
769000000 USD
CY2017Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
73000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
94000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
4341000000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
4545000000 USD
CY2016Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
6094000000 USD
CY2017Q2 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
6226000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3909000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4046000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4359000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4565000000 USD
CY2016Q2 us-gaap Taxes Other
TaxesOther
41000000 USD
us-gaap Taxes Other
TaxesOther
82000000 USD
CY2017Q2 us-gaap Taxes Other
TaxesOther
43000000 USD
us-gaap Taxes Other
TaxesOther
88000000 USD
CY2016Q4 us-gaap Timber And Timberlands
TimberAndTimberlands
456000000 USD
CY2017Q2 us-gaap Timber And Timberlands
TimberAndTimberlands
451000000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
37700000 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
36000000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1753000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1681000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
132000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
46000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
98000000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
142000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
22000000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
19000000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
2000000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2000000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
42000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
414700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
415100000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
416400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
416700000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
411200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
411000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
412900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
412500000 shares

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