2019 Q2 Form 10-Q Financial Statement

#000103797619000062 Filed on August 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $4.267B $3.904B
YoY Change 9.29% 12.49%
Cost Of Revenue $1.918B $1.740B
YoY Change 10.22% 9.06%
Gross Profit $2.348B $2.163B
YoY Change 8.55% 15.41%
Gross Profit Margin 55.04% 55.42%
Selling, General & Admin $2.127B $1.978B
YoY Change 7.51% 16.57%
% of Gross Profit 90.58% 91.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.50M $46.30M
YoY Change -1.73% 12.38%
% of Gross Profit 1.94% 2.14%
Operating Expenses $4.116B $3.754B
YoY Change 9.66% 12.41%
Operating Profit $150.1M $149.8M
YoY Change 0.2% 14.53%
Interest Expense -$3.400M -$4.100M
YoY Change -17.07% 4000.0%
% of Operating Profit -2.27% -2.74%
Other Income/Expense, Net $800.0K $1.700M
YoY Change -52.94%
Pretax Income $147.5M $147.4M
YoY Change 0.07% 12.78%
Income Tax $36.20M $37.60M
% Of Pretax Income 24.54% 25.51%
Net Earnings $110.7M $108.0M
YoY Change 2.5% 14.29%
Net Earnings / Revenue 2.59% 2.77%
Basic Earnings Per Share $2.42 $2.37
Diluted Earnings Per Share $2.40 $2.35
COMMON SHARES
Basic Shares Outstanding 45.75M shares 45.49M shares
Diluted Shares Outstanding 46.04M shares 45.95M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $411.0M $293.0M
YoY Change 40.27% 17.2%
Cash & Equivalents $411.2M $292.8M
Short-Term Investments
Other Short-Term Assets $1.772B $1.653B
YoY Change 7.2% 908.54%
Inventory
Prepaid Expenses
Receivables $1.726B $1.508B
Other Receivables $779.0M $753.0M
Total Short-Term Assets $5.030B $4.470B
YoY Change 12.54% 31.49%
LONG-TERM ASSETS
Property, Plant & Equipment $583.3M $536.4M
YoY Change 8.74% 4.58%
Goodwill $2.731B $2.683B
YoY Change 1.78% 0.52%
Intangibles $336.1M $292.8M
YoY Change 14.79% -3.05%
Long-Term Investments $376.0M $380.0M
YoY Change -1.05% 4.4%
Other Assets $198.9M $155.9M
YoY Change 27.58% 96.6%
Total Long-Term Assets $5.551B $4.718B
YoY Change 17.65% 4.87%
TOTAL ASSETS
Total Short-Term Assets $5.030B $4.470B
Total Long-Term Assets $5.551B $4.718B
Total Assets $10.58B $9.188B
YoY Change 15.16% 16.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.037B $966.0M
YoY Change 7.35% 20.45%
Accrued Expenses $1.193B $974.0M
YoY Change 22.48% 31.44%
Deferred Revenue
YoY Change
Short-Term Debt $118.7M $93.40M
YoY Change 27.09% 34.39%
Long-Term Debt Due $119.0M $93.00M
YoY Change 27.96% 32.86%
Total Short-Term Liabilities $4.171B $3.832B
YoY Change 8.82% 34.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.156B $1.077B
YoY Change 7.34% -18.84%
Other Long-Term Liabilities $327.2M $330.2M
YoY Change -0.91% 98.32%
Total Long-Term Liabilities $327.2M $330.2M
YoY Change -0.91% 98.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.171B $3.832B
Total Long-Term Liabilities $327.2M $330.2M
Total Liabilities $6.697B $5.722B
YoY Change 17.05% 17.72%
SHAREHOLDERS EQUITY
Retained Earnings $3.208B $2.778B
YoY Change 15.45% 15.54%
Common Stock $1.070B $1.047B
YoY Change 2.19% 1.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.822B $3.428B
YoY Change
Total Liabilities & Shareholders Equity $10.58B $9.188B
YoY Change 15.16% 16.33%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $110.7M $108.0M
YoY Change 2.5% 14.29%
Depreciation, Depletion And Amortization $45.50M $46.30M
YoY Change -1.73% 12.38%
Cash From Operating Activities $68.40M -$9.300M
YoY Change -835.48% -105.38%
INVESTING ACTIVITIES
Capital Expenditures -$39.20M -$29.40M
YoY Change 33.33% -6.96%
Acquisitions
YoY Change
Other Investing Activities -$11.50M $5.700M
YoY Change -301.75% -319.23%
Cash From Investing Activities -$50.70M -$23.70M
YoY Change 113.92% -30.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.30M 41.40M
YoY Change -209.42% -131.22%
NET CHANGE
Cash From Operating Activities 68.40M -9.300M
Cash From Investing Activities -50.70M -23.70M
Cash From Financing Activities -45.30M 41.40M
Net Change In Cash -27.60M 8.400M
YoY Change -428.57% 35.48%
FREE CASH FLOW
Cash From Operating Activities $68.40M -$9.300M
Capital Expenditures -$39.20M -$29.40M
Free Cash Flow $107.6M $20.10M
YoY Change 435.32% -90.18%

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us-gaap Dividends Share Based Compensation
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us-gaap Dividends Share Based Compensation
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Net Income Loss
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8000000.0 USD
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31300000 USD
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31300000 USD
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51800000 USD
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51800000 USD
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us-gaap Profit Loss
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Interest In Joint Venture
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us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
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2019-06-30
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jll Finite And Indefinite Lived Intangible Assets Additions
FiniteAndIndefiniteLivedIntangibleAssetsAdditions
31900000 USD
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22200000 USD
jll Finite And Indefinite Lived Intangible Assets Translation Adjustments
FiniteAndIndefiniteLivedIntangibleAssetsTranslationAdjustments
0 USD
CY2019Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
516400000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
169800000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
33600000 USD
jll Accumulated Amortization Adjustmentforfully Amortized Intangibles
AccumulatedAmortizationAdjustmentforfullyAmortizedIntangibles
22200000 USD
jll Accumulated Amortization Finite Lived Intangible Assets Translation Adjustments
AccumulatedAmortizationFiniteLivedIntangibleAssetsTranslationAdjustments
900000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
180300000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
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336100000 USD
us-gaap Servicing Asset At Amortized Cost Other Than Temporary Impairments
ServicingAssetAtAmortizedCostOtherThanTemporaryImpairments
3000000.0 USD
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FiniteAndIndefiniteLivedIntangibleAssetsGross
470900000 USD
jll Finite And Indefinite Lived Intangible Assets Additions
FiniteAndIndefiniteLivedIntangibleAssetsAdditions
26000000.0 USD
jll Adjustment For Fully Amortized Intangibles
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14300000 USD
jll Finite And Indefinite Lived Intangible Assets Translation Adjustments
FiniteAndIndefiniteLivedIntangibleAssetsTranslationAdjustments
-3500000 USD
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479100000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
165900000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
36800000 USD
jll Accumulated Amortization Adjustmentforfully Amortized Intangibles
AccumulatedAmortizationAdjustmentforfullyAmortizedIntangibles
14300000 USD
jll Accumulated Amortization Finite Lived Intangible Assets Translation Adjustments
AccumulatedAmortizationFiniteLivedIntangibleAssetsTranslationAdjustments
-2100000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
186300000 USD
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IntangibleAssetsNetExcludingGoodwill
292800000 USD
us-gaap Servicing Asset At Amortized Cost Other Than Temporary Impairments
ServicingAssetAtAmortizedCostOtherThanTemporaryImpairments
6500000 USD
dei Document Period End Date
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2019-06-30
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
34300000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
53100000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
43400000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33600000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
27800000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
23400000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
70500000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
286100000 USD
CY2019Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
375500000 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
356900000 USD
CY2019Q2 jll Number Of Separate Property Or Fund Co Investments
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47 investment
CY2019Q2 jll Equity Method Investment Ownership Percentage Minimum
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0.01
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EquityMethodInvestmentOwnershipPercentageMaximum
0.10
CY2018Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
247300000 USD
CY2017Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
242300000 USD
jll Investmentsin Real Estate Venturesat Fair Value Additions
InvestmentsinRealEstateVenturesatFairValueAdditions
32200000 USD
jll Investmentsin Real Estate Venturesat Fair Value Additions
InvestmentsinRealEstateVenturesatFairValueAdditions
11100000 USD
jll Investmentsin Real Estate Venturesat Fair Value Distributions
InvestmentsinRealEstateVenturesatFairValueDistributions
22300000 USD
jll Investmentsin Real Estate Venturesat Fair Value Distributions
InvestmentsinRealEstateVenturesatFairValueDistributions
29000000.0 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
14600000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
13600000 USD
jll Investmentsin Real Estate Venturesat Fair Value Foreign Currency Translation
InvestmentsinRealEstateVenturesatFairValueForeignCurrencyTranslation
1000000.0 USD
jll Investmentsin Real Estate Venturesat Fair Value Foreign Currency Translation
InvestmentsinRealEstateVenturesatFairValueForeignCurrencyTranslation
700000 USD
CY2019Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
272800000 USD
CY2018Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
238700000 USD
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680800000 USD
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LongTermDebtFairValue
671400000 USD
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SeniorLongTermNotes
669600000 USD
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SeniorLongTermNotes
671500000 USD
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DerivativeNotionalAmount
2080000000.00 USD
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ForeignCurrencyForwardContractNetNotionalValue
660000000 USD
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CY2018Q4 jll Foreign Currency Forward Contract Net Notional Value
ForeignCurrencyForwardContractNetNotionalValue
840000000 USD
CY2019Q2 us-gaap Common Stock Issued Employee Stock Trust
CommonStockIssuedEmployeeStockTrust
5900000 USD
CY2018Q4 us-gaap Common Stock Issued Employee Stock Trust
CommonStockIssuedEmployeeStockTrust
5800000 USD
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
40700000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
80900000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
80600000 USD
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
11000000.0 USD
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
79500000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
152600000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
132800000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
100900000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
80900000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
236300000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
783000000.0 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
97000000.0 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
686000000.0 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
167800000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
153100000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
132300000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
99400000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
81000000.0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
257300000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
890900000 USD
CY2019Q2 us-gaap Bank Overdrafts
BankOverdrafts
34800000 USD
CY2018Q4 us-gaap Bank Overdrafts
BankOverdrafts
17000000.0 USD
CY2019Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
83900000 USD
CY2018Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
15700000 USD
CY2019Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
118700000 USD
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
32700000 USD
CY2019Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1274200000 USD
CY2018Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
688300000 USD
CY2019Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
500000 USD
CY2018Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
8600000 USD
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
70600000 USD
CY2019Q2 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
384000000.0 USD
CY2018Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
317900000 USD
CY2019Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
37700000 USD
CY2018Q4 us-gaap Loss Contingency Receivable
LossContingencyReceivable
40600000 USD
CY2019Q2 jll Loansubjecttolosssharingarrangementsaggregateunpaidprincipalamount
Loansubjecttolosssharingarrangementsaggregateunpaidprincipalamount
8800000000 USD
CY2018Q4 jll Loansubjecttolosssharingarrangementsaggregateunpaidprincipalamount
Loansubjecttolosssharingarrangementsaggregateunpaidprincipalamount
8400000000 USD
CY2019Q2 jll Loanlossaccrual
Loanlossaccrual
18300000 USD
CY2018Q4 jll Loanlossaccrual
Loanlossaccrual
17500000 USD
CY2019Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
25700000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
44300000 USD
CY2018Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
-11100000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
-10400000 USD
CY2019Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
14300000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
20000000.0 USD
CY2018Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
13600000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
14800000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
15100000 USD
us-gaap Restructuring Charges
RestructuringCharges
24300000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
24800000 USD
CY2019Q2 us-gaap Restructuring Reserve
RestructuringReserve
14600000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
21300000 USD
us-gaap Restructuring Charges
RestructuringCharges
4400000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
12400000 USD
CY2018Q2 us-gaap Restructuring Reserve
RestructuringReserve
13300000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
-8400000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
100000 USD
CY2019Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
8500000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
3800000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
3800000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0 USD
CY2019Q3 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1800000000 USD

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