2017 Q4 Form 10-K Financial Statement

#000103526718000013 Filed on February 02, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017
Revenue $892.4M $806.1M $3.129B
YoY Change 17.9% 18.04% 15.7%
Cost Of Revenue $258.0M $239.3M $934.8M
YoY Change 12.66% 22.15% 14.8%
Gross Profit $634.0M $568.1M $2.202B
YoY Change 20.26% 16.65% 16.33%
Gross Profit Margin 71.04% 70.48% 70.38%
Selling, General & Admin $219.1M $204.1M $810.5M
YoY Change 17.48% 21.49% 15.19%
% of Gross Profit 34.56% 35.93% 36.81%
Research & Development $87.10M $83.40M $328.6M
YoY Change 26.05% 33.23% 37.15%
% of Gross Profit 13.74% 14.68% 14.92%
Depreciation & Amortization $38.50M $24.90M $82.10M
YoY Change 59.75% 11.66% 16.12%
% of Gross Profit 6.07% 4.38% 3.73%
Operating Expenses $306.2M $287.5M $1.139B
YoY Change 19.8% 24.67% 20.77%
Operating Profit $327.8M $280.6M $1.063B
YoY Change 20.69% 9.44% 11.92%
Interest Expense $12.30M $10.80M $41.90M
YoY Change 5.13% 3.85% 17.7%
% of Operating Profit 3.75% 3.85% 3.94%
Other Income/Expense, Net $10.80M $41.90M
YoY Change 3.85% 17.7%
Pretax Income $341.3M $291.4M $774.7M
YoY Change 21.63% 9.22% 17.91%
Income Tax $55.00M -$7.200M $433.9M
% Of Pretax Income 16.11% -2.47% 56.01%
Net Earnings -$31.50M $298.6M $670.9M
YoY Change -115.44% 41.52% -9.13%
Net Earnings / Revenue -3.53% 37.04% 21.44%
Basic Earnings Per Share -$0.28 $2.67 $6.01
Diluted Earnings Per Share -$0.28 $2.56 $5.77
COMMON SHARES
Basic Shares Outstanding 112.0M shares 111.8M shares 111.7M shares
Diluted Shares Outstanding 116.8M shares 116.3M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.961B $2.147B $1.961B
YoY Change -23.25% -3.07% -23.25%
Cash & Equivalents $648.2M $875.0M $451.0M
Short-Term Investments $1.312B $1.272B $1.312B
Other Short-Term Assets $99.00M $89.00M $99.00M
YoY Change 19.28% 9.88% 19.28%
Inventory $241.2M $225.2M $241.0M
Prepaid Expenses
Receivables $507.9M $468.0M $508.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.809B $2.929B $2.809B
YoY Change -13.58% 0.6% -13.57%
LONG-TERM ASSETS
Property, Plant & Equipment $613.1M $584.8M $613.0M
YoY Change 33.75% 30.74% 33.84%
Goodwill $201.1M $201.1M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.886B $1.655B $1.886B
YoY Change -17.39% -29.45% -17.39%
Other Assets $72.00M $120.0M $72.00M
YoY Change -52.32% -9.77% -72.52%
Total Long-Term Assets $2.968B $2.716B $2.968B
YoY Change -8.3% -16.78% -8.31%
TOTAL ASSETS
Total Short-Term Assets $2.809B $2.929B $2.809B
Total Long-Term Assets $2.968B $2.716B $2.968B
Total Assets $5.777B $5.645B $5.777B
YoY Change -10.95% -8.59% -10.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $82.50M $80.40M $83.00M
YoY Change 20.44% 32.67% 20.29%
Accrued Expenses $169.5M $253.0M $337.0M
YoY Change 12.25% 22.82% 36.44%
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 $662.8M $615.7M $663.0M
YoY Change 11.11% 16.59% 11.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.00M $69.00M $334.0M
YoY Change -80.46% -34.16% 195.58%
Total Long-Term Liabilities $22.00M $69.00M $334.0M
YoY Change -80.46% -34.16% 195.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $662.8M $615.7M $663.0M
Total Long-Term Liabilities $22.00M $69.00M $334.0M
Total Liabilities $996.4M $684.7M $998.0M
YoY Change 40.52% 8.18% 40.76%
SHAREHOLDERS EQUITY
Retained Earnings $115.0M $776.6M
YoY Change -92.7% -44.64%
Common Stock $4.679B $4.191B
YoY Change 11.1% 1.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.779B $4.958B $4.779B
YoY Change
Total Liabilities & Shareholders Equity $5.777B $5.645B $5.777B
YoY Change -10.95% -8.59% -10.94%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017
OPERATING ACTIVITIES
Net Income -$31.50M $298.6M $670.9M
YoY Change -115.44% 41.52% -9.13%
Depreciation, Depletion And Amortization $38.50M $24.90M $82.10M
YoY Change 59.75% 11.66% 16.12%
Cash From Operating Activities $332.0M $353.9M $1.144B
YoY Change 0.7% 31.66% 5.23%
INVESTING ACTIVITIES
Capital Expenditures -$31.00M -$51.40M -$190.7M
YoY Change 74.16% 240.4% 253.8%
Acquisitions $0.00
YoY Change
Other Investing Activities -$284.8M -$208.6M $569.4M
YoY Change -2.2% -60.36% -146.46%
Cash From Investing Activities -$315.8M -$260.0M $378.7M
YoY Change 2.2% -51.97% -129.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.274B
YoY Change 5250.59%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -243.1M 83.60M -$1.913B
YoY Change 5072.34% -16.82% -471.91%
NET CHANGE
Cash From Operating Activities 332.0M 353.9M $1.144B
Cash From Investing Activities -315.8M -260.0M $378.7M
Cash From Financing Activities -243.1M 83.60M -$1.913B
Net Change In Cash -226.9M 177.5M -$388.4M
YoY Change -1518.13% -203.2% -220.62%
FREE CASH FLOW
Cash From Operating Activities $332.0M $353.9M $1.144B
Capital Expenditures -$31.00M -$51.40M -$190.7M
Free Cash Flow $363.0M $405.3M $1.335B
YoY Change 4.46% 42.76% 16.98%

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CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
1898300000 USD
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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1885900000 USD
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1320700000 USD
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1317900000 USD
CY2017Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
3203800000 USD
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199500000 USD
CY2017Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
230500000 USD
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128000000 USD
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Receivable Current
CapitalLeasesFutureMinimumPaymentsReceivableCurrent
44400000 USD
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CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter
500000 USD
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Five Years
CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears
6400000 USD
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Four Years
CapitalLeasesFutureMinimumPaymentsReceivableInFourYears
13100000 USD
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Three Years
CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears
26600000 USD
CY2017Q4 us-gaap Capital Leases Future Minimum Payments Receivable In Two Years
CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears
37000000 USD
CY2016Q4 us-gaap Capital Leases Net Investment In Sales Type Leases
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98900000 USD
CY2017Q4 us-gaap Capital Leases Net Investment In Sales Type Leases
CapitalLeasesNetInvestmentInSalesTypeLeases
122100000 USD
CY2016Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Allowance For Uncollectible Minimum Lease Payments
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600000 USD
CY2017Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Allowance For Uncollectible Minimum Lease Payments
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900000 USD
CY2016Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Deferred Income
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4800000 USD
CY2017Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Deferred Income
CapitalLeasesNetInvestmentInSalesTypeLeasesDeferredIncome
5000000 USD
CY2016Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Minimum Payments To Be Received
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104300000 USD
CY2017Q4 us-gaap Capital Leases Net Investment In Sales Type Leases Minimum Payments To Be Received
CapitalLeasesNetInvestmentInSalesTypeLeasesMinimumPaymentsToBeReceived
128000000 USD
CY2016Q4 us-gaap Capitalized Computer Software Gross
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114200000 USD
CY2017Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
135600000 USD
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600300000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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714600000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1036600000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
648200000 USD
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114300000 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
322000000 USD
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q4 us-gaap Commitments And Contingencies
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CY2017Q4 us-gaap Commitments And Contingencies
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0.001
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Shares Authorized
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300000000.0 shares
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000.0 shares
CY2016Q4 us-gaap Common Stock Shares Issued
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116400000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
112300000 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
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116400000 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
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112300000 shares
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CY2017Q4 us-gaap Common Stock Value
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CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
653400000 USD
CY2016Q4 us-gaap Construction In Progress Gross
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41200000 USD
CY2017Q4 us-gaap Construction In Progress Gross
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83500000 USD
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647200000 USD
CY2016 us-gaap Cost Of Goods Sold
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663300000 USD
CY2017 us-gaap Cost Of Goods Sold
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754900000 USD
CY2015 us-gaap Cost Of Revenue
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806500000 USD
CY2016 us-gaap Cost Of Revenue
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814300000 USD
CY2017 us-gaap Cost Of Revenue
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934800000 USD
CY2015 us-gaap Cost Of Services
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159300000 USD
CY2016 us-gaap Cost Of Services
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151000000 USD
CY2017 us-gaap Cost Of Services
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179900000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
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CY2016 us-gaap Current Federal Tax Expense Benefit
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207000000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
352100000 USD
CY2015 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7600000 USD
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
5400000 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
8700000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
164700000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
225800000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
373800000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
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8400000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13400000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13000000 USD
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7500000 USD
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DeferredFederalIncomeTaxExpenseBenefit
18300000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
65500000 USD
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DeferredForeignIncomeTaxExpenseBenefit
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CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
200000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5000000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19100000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
62700000 USD
CY2016Q4 us-gaap Deferred Revenue Current
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240600000 USD
CY2017Q4 us-gaap Deferred Revenue Current
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284500000 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
500000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
600000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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195000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
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146800000 USD
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150100000 USD
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
87300000 USD
CY2016Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
177800000 USD
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
117400000 USD
CY2016Q4 us-gaap Deferred Tax Assets Net Noncurrent
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150900000 USD
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87300000 USD
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9800000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
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10500000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
15600000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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27500000 USD
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CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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122200000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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79100000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
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17200000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
29400000 USD
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21500000 USD
CY2016 us-gaap Deferred Tax Expense From Stock Options Exercised
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29800000 USD
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CY2017Q4 us-gaap Deferred Tax Liabilities
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30100000 USD
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2300000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
3600000 USD
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200000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Other
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200000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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25200000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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26300000 USD
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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2
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1500 USD
CY2017 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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1
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61100000 USD
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70700000 USD
CY2017 us-gaap Depreciation
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CY2016 us-gaap Earnings Per Share Basic
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6.40
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1.61
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2.00
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2.66
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5.91
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5.18
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1.18
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1.57
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1.77
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1.71
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.24
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1.56
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1.92
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2.55
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CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.67
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CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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2100000 USD
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2016Q4 us-gaap Employee Related Liabilities Current
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167600000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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51800000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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56100000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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49200000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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118900000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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165000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
167800000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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1700000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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9600000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2100000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3400000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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4600000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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4600000 USD
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196500000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
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193800000 USD
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31500000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
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26000000 USD
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-5600000 USD
CY2017 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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9700000 USD
CY2015 us-gaap Gain Loss On Oil And Gas Hedging Activity
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7200000 USD
CY2016 us-gaap Gain Loss On Oil And Gas Hedging Activity
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900000 USD
CY2017 us-gaap Gain Loss On Oil And Gas Hedging Activity
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CY2016Q4 us-gaap Goodwill
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201100000 USD
CY2017Q4 us-gaap Goodwill
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201100000 USD
CY2017 us-gaap Goodwill Impairment Loss
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CY2016Q1 us-gaap Gross Profit
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405000000 USD
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470900000 USD
CY2016Q3 us-gaap Gross Profit
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487000000 USD
CY2016Q4 us-gaap Gross Profit
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527200000 USD
CY2016 us-gaap Gross Profit
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1890100000 USD
CY2017Q1 us-gaap Gross Profit
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466100000 USD
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527900000 USD
CY2017Q3 us-gaap Gross Profit
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566800000 USD
CY2017Q4 us-gaap Gross Profit
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633300000 USD
CY2017 us-gaap Gross Profit
GrossProfit
2194100000 USD
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425100000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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653000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
765000000 USD
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758500000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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333400000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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327800000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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331500000 USD
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980800000 USD
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1096500000 USD
CY2015 us-gaap Income Tax Expense Benefit
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169700000 USD
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244900000 USD
CY2017 us-gaap Income Tax Expense Benefit
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436500000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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317800000 USD
CY2015 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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5300000 USD
CY2016 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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8000000 USD
CY2017 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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7900000 USD
CY2015 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-67400000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-86200000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-107300000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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265500000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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343300000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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383800000 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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6900000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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3600000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
10800000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
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-1100000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
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1800000 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
3800000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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8900000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
14000000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
16000000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits Research
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6400000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
7800000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
15300000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
110300000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
138400000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
147500000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
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-11300000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
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15900000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
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14000000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
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79200000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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2547100000 USD
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CY2017 us-gaap Sales Revenue Net
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517000000 USD
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581800000 USD
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640500000 USD
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CY2015 us-gaap Share Based Compensation
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CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
177600000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
209100000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
196500000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
273300000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
379900000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
100000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
700000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1447200000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9300000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7200000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
148.36
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
164.16
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
1429600000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7100000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
162.50
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
140.70
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
204.94
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
287.11
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
5700000 shares
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
7200000 shares
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1234400000 USD
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10M24D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y6M25D
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
147.32
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
164.16
CY2017 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2700000 shares
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
361100000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
580900000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
415500000 USD
CY2017Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
717500000 USD
CY2015 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
183700000 USD
CY2016 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
42500000 USD
CY2017 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
2274000000 USD
CY2015 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1100000 shares
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
200000 shares
CY2017 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
7300000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
5777800000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
4725200000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3379400000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4319500000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5777800000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4726800000 USD
CY2017Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3
CY2016Q4 us-gaap Taxes Payable Current
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40400000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
63100000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
75500000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
92400000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
106000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
65400000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
500000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
46500000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
11400000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
500000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2900000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3700000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1800000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
28900000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
29900000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
21100000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
300000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-40600000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
900000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
15800000 USD
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4600000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113700000 shares
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
14700000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117900000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116300000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111300000 shares
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2400000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114900000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111700000 shares
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentrations of Credit Risk and Other Risks and Uncertainties</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their short maturities. Marketable securities and derivative instruments are stated at their estimated fair values, based on quoted market prices for the same or similar instruments. The counterparties to the agreements relating to the Company&#8217;s investment securities and derivative instruments consist of various major corporations, financial institutions, municipalities, and government agencies of high credit standing. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s accounts receivable are derived from net revenue to customers and distributors located throughout the world. The Company performs credit evaluations of its customers&#8217; financial condition and, generally, requires no collateral from its customers. The Company provides reserves for potential credit losses but has not experienced significant losses to date. </font></div></div>
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF THE BUSINESS</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intuitive Surgical, Inc. designs, manufactures, and markets </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> Surgical Systems and related instruments and accessories, which taken together, are advanced surgical systems that the Company considers an advanced generation of surgery. This advanced generation of surgery, which the Company calls </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgery, combines the benefits of MIS for patients with the ease of use, precision and dexterity of open surgery. A </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical System consists of a surgeon&#8217;s console, a patient-side cart, and a high performance vision system. The </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical System translates a surgeon&#8217;s natural hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions, or ports. The </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical System is designed to provide its operating surgeons with intuitive control, range of motion, fine tissue manipulation capability, and 3-D HD vision while simultaneously allowing surgeons to work through the small ports enabled by MIS procedures.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes to the Consolidated Financial Statements. The accounting estimates that require management&#8217;s most significant, difficult, and subjective judgments include the valuation and recognition of investments, the valuation of the revenue and allowance for sales returns and doubtful accounts, the estimation of hedging transactions, the valuation of inventory, the assessment of recoverability of intangible assets and their estimated useful lives, revenue recognition, the valuation and recognition of share-based compensation, the recognition and measurement of current and deferred income tax assets and liabilities, and legal contingencies estimates. Actual results could differ materially from these estimates. </font></div></div>

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