$KEYS
Keysight Technologies, Inc.

2020 Q3 Form 10-Q Financial Statement

#000160104620000056 Filed on September 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $1.011B $1.120B $1.087B
YoY Change -6.99% 6.97% 8.27%
Cost Of Revenue $405.0M $455.0M $444.0M
YoY Change -8.78% -3.4% 1.14%
Gross Profit $606.0M $665.0M $643.0M
YoY Change -5.75% 15.45% 13.81%
Gross Profit Margin 59.94% 59.38% 59.15%
Selling, General & Admin $259.0M $286.0M $281.0M
YoY Change -7.83% -12.8% -4.42%
% of Gross Profit 42.74% 43.01% 43.7%
Research & Development $169.0M $176.0M $168.0M
YoY Change 0.6% 2.92% 9.09%
% of Gross Profit 27.89% 26.47% 26.13%
Depreciation & Amortization $80.00M $79.00M $78.00M
YoY Change 2.56% 2.6% 2.63%
% of Gross Profit 13.2% 11.88% 12.13%
Operating Expenses $428.0M $457.0M $449.0M
YoY Change -4.68% -5.58% 0.22%
Operating Profit $182.0M $208.0M $197.0M
YoY Change -7.61% 126.09% 68.38%
Interest Expense $20.00M -$18.00M $20.00M
YoY Change 0.0% 50.0% 0.0%
% of Operating Profit 10.99% -8.65% 10.15%
Other Income/Expense, Net $22.00M $13.00M $15.00M
YoY Change 46.67% -71.11% 15.38%
Pretax Income $185.0M $203.0M $199.0M
YoY Change -7.04% -134.76% -7.44%
Income Tax $9.000M $8.000M $40.00M
% Of Pretax Income 4.86% 3.94% 20.1%
Net Earnings $176.0M $195.0M $159.0M
YoY Change 10.69% -271.05% 31.4%
Net Earnings / Revenue 17.41% 17.41% 14.63%
Basic Earnings Per Share $0.94 $0.85
Diluted Earnings Per Share $0.93 $1.021M $0.83
COMMON SHARES
Basic Shares Outstanding 187.0M shares 188.4M shares 188.0M shares
Diluted Shares Outstanding 190.0M shares 191.0M shares

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.697B $1.635B $1.394B
YoY Change 21.74% 73.38% 87.87%
Cash & Equivalents $1.697B $1.598B $1.394B
Short-Term Investments $37.00M
Other Short-Term Assets $234.0M $244.0M $227.0M
YoY Change 3.08% -2.4% -2.99%
Inventory $778.0M $705.0M $696.0M
Prepaid Expenses
Receivables $569.0M $668.0M $618.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.278B $3.215B $2.935B
YoY Change 11.69% 35.2% 34.51%
LONG-TERM ASSETS
Property, Plant & Equipment $584.0M $576.0M $568.0M
YoY Change 2.82% 3.78% 3.46%
Goodwill $1.510B $1.209B $1.209B
YoY Change 24.9% 3.25% -35.96%
Intangibles $419.0M $490.0M $546.0M
YoY Change -23.26% -24.03% -22.22%
Long-Term Investments $62.00M $46.00M $46.00M
YoY Change 34.78% 0.0% -14.81%
Other Assets $375.0M $332.0M $341.0M
YoY Change 9.97% 17.73% 19.65%
Total Long-Term Assets $3.883B $3.408B $3.413B
YoY Change 13.77% -1.1% -6.85%
TOTAL ASSETS
Total Short-Term Assets $3.278B $3.215B $2.935B
Total Long-Term Assets $3.883B $3.408B $3.413B
Total Assets $7.161B $6.623B $6.348B
YoY Change 12.81% 13.72% 8.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $193.0M $253.0M $247.0M
YoY Change -21.86% 4.55% 6.93%
Accrued Expenses $361.0M $355.0M $309.0M
YoY Change 16.83% 4.72% 6.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $500.0M
YoY Change -100.0%
Total Short-Term Liabilities $980.0M $1.003B $1.432B
YoY Change -31.56% -31.4% 59.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.789B $1.788B $1.292B
YoY Change 38.47% 38.5% -27.82%
Other Long-Term Liabilities $358.0M $295.0M $297.0M
YoY Change 20.54% 1.72% 47.76%
Total Long-Term Liabilities $2.147B $2.083B $1.589B
YoY Change 35.12% 31.75% -20.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $980.0M $1.003B $1.432B
Total Long-Term Liabilities $2.147B $2.083B $1.589B
Total Liabilities $3.807B $3.619B $3.410B
YoY Change 11.64% 6.72% 5.47%
SHAREHOLDERS EQUITY
Retained Earnings $2.319B $1.909B $1.714B
YoY Change 35.3% 48.21% 29.26%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $537.0M $342.0M $312.0M
YoY Change 72.12% 87.91% 119.72%
Treasury Stock Shares 8.500M shares 6.500M shares 6.200M shares
Shareholders Equity $3.354B $3.004B $2.938B
YoY Change
Total Liabilities & Shareholders Equity $7.161B $6.623B $6.348B
YoY Change 12.81% 13.72% 8.59%

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $176.0M $195.0M $159.0M
YoY Change 10.69% -271.05% 31.4%
Depreciation, Depletion And Amortization $80.00M $79.00M $78.00M
YoY Change 2.56% 2.6% 2.63%
Cash From Operating Activities $183.0M $263.0M $274.0M
YoY Change -33.21% 11.91% 621.05%
INVESTING ACTIVITIES
Capital Expenditures -$32.00M -$30.00M -$30.00M
YoY Change 6.67% -11.76% -25.0%
Acquisitions
YoY Change
Other Investing Activities -$319.0M $3.000M -$90.00M
YoY Change 254.44% -86.96% 1025.0%
Cash From Investing Activities -$351.0M -$27.00M -$120.0M
YoY Change 192.5% 145.45% 150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.00M -31.00M -37.00M
YoY Change -159.46% -31.11% 48.0%
NET CHANGE
Cash From Operating Activities 183.0M 263.0M 274.0M
Cash From Investing Activities -351.0M -27.00M -120.0M
Cash From Financing Activities 22.00M -31.00M -37.00M
Net Change In Cash -146.0M 205.0M 117.0M
YoY Change -224.79% 14.53% -434.29%
FREE CASH FLOW
Cash From Operating Activities $183.0M $263.0M $274.0M
Capital Expenditures -$32.00M -$30.00M -$30.00M
Free Cash Flow $215.0M $293.0M $304.0M
YoY Change -29.28% 8.92% 289.74%

Facts In Submission

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The Communications Solutions Group serves customers spanning the worldwide commercial communications and aerospace, defense, and government end markets. The group’s solutions consist of electronic design and test software, electronic measurement instruments, systems and related services. These solutions are used in the simulation, design, validation, manufacturing, installation, and optimization of electronic equipment and networks. The Electronic Industrial Solutions Group provides test and measurement solutions and related services across a broad set of electronic industrial end markets, focusing on high-value applications in the automotive and energy industry and measurement solutions for consumer electronics, education, general electronics design and manufacturing, and semiconductor design and manufacturing. The group provides electronic design and test software, electronic measurement instruments and systems and related services used in the simulation, design, validation, manufacturing, installation and optimization of electronic equipment.
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86000000 USD
CY2019Q3 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-3000000 USD
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-32000000 USD
us-gaap Income Tax Holiday Description
IncomeTaxHolidayDescription
Keysight benefits from tax incentives in several jurisdictions, most significantly in Singapore, that have granted us tax incentives that require renewal at various times in the future. The tax incentives provide lower rates of taxation on certain classes of income and require thresholds of investments and employment or specific types of income in those jurisdictions.
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
29000000 USD
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
32000000 USD
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.15
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.17
us-gaap Income Tax Holiday Termination Date
IncomeTaxHolidayTerminationDate
The majority of our tax incentives are due for renewal between 2024 and 2025.
CY2020Q3 us-gaap Profit Loss
ProfitLoss
176000000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
159000000 USD
us-gaap Profit Loss
ProfitLoss
410000000 USD
us-gaap Profit Loss
ProfitLoss
426000000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187000000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188000000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
190000000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
191000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
190000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
191000000 shares
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
66000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
78000000 USD
us-gaap Interest Paid
InterestPaid
38000000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1697000000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1598000000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1703000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1600000000 USD
CY2020Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
351000000 USD
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
317000000 USD
CY2020Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
427000000 USD
CY2019Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
388000000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
778000000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
705000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
21000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
20000000 USD
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
1918000000 USD
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
709000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
1209000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
288000000 USD
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
13000000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
1510000000 USD
CY2020Q3 us-gaap Goodwill Gross
GoodwillGross
2219000000 USD
CY2020Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
709000000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
1510000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1331000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
914000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
417000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1240000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
752000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
488000000 USD
CY2020Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2000000 USD
CY2020Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2000000 USD
CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2000000 USD
CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2000000 USD
CY2020Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1333000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
914000000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
419000000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1242000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
752000000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
490000000 USD
us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
3000000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
54000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
162000000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
53000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
155000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
58000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
166000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
88000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
65000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
26000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
14000000 USD
CY2020Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
1000000 USD
CY2020Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
3000000 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
4000000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
13000000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
7000000 USD
CY2020Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
3000000 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
4000000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
13000000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
8000000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-1000000 USD
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
We have operating leases for items including office space, order fulfillment, sales and service centers, R&D and certain equipment, primarily automobiles. Our leases have remaining terms of up to 14 years, some of which may include options to extend the leases for 3 to 6 years. We consider options to renew in our lease terms and measurement of ROU assets and lease liabilities if we determine they are reasonably certain to be exercised.
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M24D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.03
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
13000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
36000000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
12000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
35000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
62000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
47000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
38000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
26000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
82000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
223000000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
25000000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
198000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
48000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
40000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
31000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
19000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
12000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
46000000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
196000000 USD
CY2020Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
2000000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
8000000 USD
us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
Our warranties on products sold through direct sales channels are primarily for one year. Warranties for products sold through distribution channels are primarily for three years.
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
38000000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
17000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
21000000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
22000000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
26000000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
33000000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
19000000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
24000000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
41000000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
14000000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
17000000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
33000000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
41000000 USD
CY2020Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1789000000 USD
CY2019Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1788000000 USD
us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
We were in compliance with the covenants of the Revolving Credit Facility during the nine months ended July 31, 2020.
us-gaap Repayments Of Debt
RepaymentsOfDebt
7000000 USD
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
36000000 USD
CY2019Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
37000000 USD
CY2020Q3 keys Long Term Debt Fair Value Over Carrying Value
LongTermDebtFairValueOverCarryingValue
270000000 USD
CY2019Q4 keys Long Term Debt Fair Value Over Carrying Value
LongTermDebtFairValueOverCarryingValue
139000000 USD
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2047166000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
195000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1790420000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
130000000 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-567000000 USD
CY2020Q3 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
37000000 USD
CY2020Q3 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-13000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
3000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
47000000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-520000000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-578000000 USD
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
21000000 USD
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-41000000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
4000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
58000000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-520000000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-461000000 USD
CY2019Q3 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
-5000000 USD
CY2019Q3 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-7000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
1000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1000000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-460000000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-488000000 USD
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
9000000 USD
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-25000000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
6000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
28000000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-460000000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2020Q3 us-gaap Revenues
Revenues
1011000000 USD
CY2019Q3 us-gaap Revenues
Revenues
1087000000 USD
CY2019Q3 keys Business Combination Acquisition Related Fair Value Adjustments Revenue
BusinessCombinationAcquisitionRelatedFairValueAdjustmentsRevenue
-1000000 USD
us-gaap Revenues
Revenues
3001000000 USD
us-gaap Revenues
Revenues
3183000000 USD
keys Business Combination Acquisition Related Fair Value Adjustments Revenue
BusinessCombinationAcquisitionRelatedFairValueAdjustmentsRevenue
-7000000 USD
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
19000000 USD
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
16000000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
73000000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
66000000 USD
CY2020Q3 keys Amortizationofacquisitionrelatedbalances
Amortizationofacquisitionrelatedbalances
54000000 USD
CY2019Q3 keys Amortizationofacquisitionrelatedbalances
Amortizationofacquisitionrelatedbalances
56000000 USD
keys Amortizationofacquisitionrelatedbalances
Amortizationofacquisitionrelatedbalances
167000000 USD
keys Amortizationofacquisitionrelatedbalances
Amortizationofacquisitionrelatedbalances
164000000 USD
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
8000000 USD
CY2019Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
12000000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5000000 USD
CY2020Q3 us-gaap Loss From Catastrophes
LossFromCatastrophes
0 USD
CY2019Q3 us-gaap Loss From Catastrophes
LossFromCatastrophes
0 USD
us-gaap Loss From Catastrophes
LossFromCatastrophes
32000000 USD
us-gaap Loss From Catastrophes
LossFromCatastrophes
0 USD
CY2020Q3 keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
SegmentReportingOtherReconcilingItemsForOperatingProfitLossSegmentToConsolidated
-1000000 USD
CY2019Q3 keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
SegmentReportingOtherReconcilingItemsForOperatingProfitLossSegmentToConsolidated
-3000000 USD
keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
SegmentReportingOtherReconcilingItemsForOperatingProfitLossSegmentToConsolidated
-4000000 USD
keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
SegmentReportingOtherReconcilingItemsForOperatingProfitLossSegmentToConsolidated
-9000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
182000000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
197000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
487000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
503000000 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000 USD
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
11000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
17000000 USD
CY2020Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
20000000 USD
CY2019Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
20000000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
59000000 USD
us-gaap Interest Expense Deposits
InterestExpenseDeposits
60000000 USD
CY2020Q3 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
22000000 USD
CY2019Q3 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
15000000 USD
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
56000000 USD
us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
52000000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
185000000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
199000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
495000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
512000000 USD

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keys-07312020xex312.htm Edgar Link pending
keys-07312020xex321.htm Edgar Link pending
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