2021 Q4 Form 10-Q Financial Statement

#000150630721000106 Filed on October 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $4.425B $3.824B $2.919B
YoY Change 42.05% 31.0% -9.18%
Cost Of Revenue $2.647B $1.559B $655.0M
YoY Change 90.16% 138.02% -14.04%
Gross Profit $1.778B $2.265B $2.264B
YoY Change 3.19% 0.04% -7.67%
Gross Profit Margin 40.18% 59.23% 77.56%
Selling, General & Admin $267.0M $280.0M $253.0M
YoY Change -1.11% 10.67% -1.56%
% of Gross Profit 15.02% 12.36% 11.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $540.0M $526.0M $539.0M
YoY Change 2.27% -2.41% -6.75%
% of Gross Profit 30.37% 23.22% 23.81%
Operating Expenses $806.0M $803.0M $791.0M
YoY Change 1.0% 1.52% -5.38%
Operating Profit $972.0M $844.0M $819.0M
YoY Change 5.08% 3.05% -13.88%
Interest Expense -$171.0M -$368.0M -$383.0M
YoY Change 4.91% -3.92% -14.32%
% of Operating Profit -17.59% -43.6% -46.76%
Other Income/Expense, Net -$4.000M -$199.0M -$207.0M
YoY Change -76.47% -3.86% -26.86%
Pretax Income $775.0M $645.0M $612.0M
YoY Change -3.13% 5.39% -8.38%
Income Tax $121.0M $134.0M $140.0M
% Of Pretax Income 15.61% 20.78% 22.88%
Net Earnings $637.0M $495.0M $455.0M
YoY Change 4.94% 8.79% -10.08%
Net Earnings / Revenue 14.4% 12.94% 15.59%
Basic Earnings Per Share $0.22 $0.20
Diluted Earnings Per Share $280.7K $0.22 $0.20
COMMON SHARES
Basic Shares Outstanding 2.267B shares 2.267B shares 2.263B shares
Diluted Shares Outstanding 2.267B shares 2.263B shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.140B $102.0M $632.0M
YoY Change -3.72% -83.86% 162.24%
Cash & Equivalents $1.140B $102.0M $632.0M
Short-Term Investments $0.00
Other Short-Term Assets $289.0M $318.0M $257.0M
YoY Change 72.02% 23.74% -6.55%
Inventory $562.0M $457.0M $317.0M
Prepaid Expenses
Receivables $1.611B $1.433B $1.142B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.829B $2.686B $2.672B
YoY Change 19.54% 0.52% 12.98%
LONG-TERM ASSETS
Property, Plant & Equipment $35.65B $35.58B $35.96B
YoY Change -0.51% -1.06% -5.21%
Goodwill $19.91B $20.03B $19.85B
YoY Change 0.32% 0.92% -9.62%
Intangibles $1.678B $1.744B $2.510B
YoY Change -31.59% -30.52% -8.02%
Long-Term Investments $7.578B $7.620B $8.014B
YoY Change -4.28% -4.92% -4.45%
Other Assets $1.649B $1.678B $2.145B
YoY Change -24.25% -21.77% -3.73%
Total Long-Term Assets $66.59B $66.95B $69.15B
YoY Change -3.17% -3.17% -7.26%
TOTAL ASSETS
Total Short-Term Assets $3.829B $2.686B $2.672B
Total Long-Term Assets $66.59B $66.95B $69.15B
Total Assets $70.42B $69.64B $71.82B
YoY Change -2.16% -3.04% -6.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.259B $1.189B $774.0M
YoY Change 50.42% 53.62% -15.5%
Accrued Expenses $788.0M $578.0M $666.0M
YoY Change -9.63% -13.21% 61.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $160.0M $0.00
YoY Change
Long-Term Debt Due $2.646B $2.662B $2.057B
YoY Change 3.44% 29.41% -53.31%
Total Short-Term Liabilities $5.821B $5.825B $4.376B
YoY Change 14.72% 33.11% -35.89%
LONG-TERM LIABILITIES
Long-Term Debt $30.67B $30.00B $32.66B
YoY Change -4.53% -8.14% 1.71%
Other Long-Term Liabilities $2.000B $2.160B $2.093B
YoY Change -9.17% 3.2% -23.02%
Total Long-Term Liabilities $32.67B $32.16B $34.75B
YoY Change -4.83% -7.46% -0.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.821B $5.825B $4.376B
Total Long-Term Liabilities $32.67B $32.16B $34.75B
Total Liabilities $38.50B $37.99B $39.13B
YoY Change -2.31% -2.92% -6.07%
SHAREHOLDERS EQUITY
Retained Earnings -$10.60B -$10.62B -$9.945B
YoY Change 6.63% 6.76% 28.6%
Common Stock $23.00M $23.00M $23.00M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.82B $30.55B $31.56B
YoY Change
Total Liabilities & Shareholders Equity $70.42B $69.64B $71.82B
YoY Change -2.16% -3.04% -6.64%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $637.0M $495.0M $455.0M
YoY Change 4.94% 8.79% -10.08%
Depreciation, Depletion And Amortization $540.0M $526.0M $539.0M
YoY Change 2.27% -2.41% -6.75%
Cash From Operating Activities $1.268B $1.129B $1.050B
YoY Change 0.0% 7.52% 2.64%
INVESTING ACTIVITIES
Capital Expenditures -$387.0M -$349.0M -$388.0M
YoY Change 8.71% -10.05% -28.28%
Acquisitions
YoY Change
Other Investing Activities -$7.000M -$1.451B -$147.0M
YoY Change -103.17% 887.07% -46.35%
Cash From Investing Activities -$394.0M -$1.800B -$535.0M
YoY Change 191.85% 236.45% -34.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.000M -1.019B -364.0M
YoY Change -99.04% 179.95% 94.65%
NET CHANGE
Cash From Operating Activities 1.268B 1.129B 1.050B
Cash From Investing Activities -394.0M -1.800B -535.0M
Cash From Financing Activities -6.000M -1.019B -364.0M
Net Change In Cash 868.0M -1.690B 151.0M
YoY Change 70.87% -1219.21% 619.05%
FREE CASH FLOW
Cash From Operating Activities $1.268B $1.129B $1.050B
Capital Expenditures -$387.0M -$349.0M -$388.0M
Free Cash Flow $1.655B $1.478B $1.438B
YoY Change 1.91% 2.78% -8.06%

Facts In Submission

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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q3 kmi Miles Of Pipeline
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CY2021Q3 kmi Number Of Pipeline Terminals Owned Interest In And Or Operated
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144 Terminals
CY2021Q3 kmi Working Capacity Of Business
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700 Bcf
us-gaap Number Of Reporting Units
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6 segment
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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495000000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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455000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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1147000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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4000000 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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10000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
9000000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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2267000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2263000000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2020Q3 us-gaap Earnings Per Share Basic
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0.20
us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2020Q4 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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CY2021Q3 us-gaap Goodwill
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CY2021Q3 kmi Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
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CY2020Q3 kmi Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
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kmi Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
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kmi Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
Gainlossondivestituresandimpairmentsofequityinvestmentsandlonglivedassets
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CY2021Q3 us-gaap Debt Current
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CY2020Q4 us-gaap Debt Current
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CY2020Q4 us-gaap Debt Instrument Carrying Amount
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CY2021Q3 us-gaap Debt Instrument Face Amount
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CY2020Q4 us-gaap Debt Instrument Face Amount
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33396000000 USD
CY2021Q3 us-gaap Foreign Currency Exchange Rate Translation1
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1.1580
CY2021Q3 kmi Debt Fair Value Adjustments
DebtFairValueAdjustments
1014000000 USD
CY2020Q4 kmi Debt Fair Value Adjustments
DebtFairValueAdjustments
1293000000 USD
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
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2000000000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
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17.71
us-gaap Stock Repurchased During Period Value
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575000000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.81
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.27
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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us-gaap Common Stock Dividends Per Share Cash Paid
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0.8025
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.775
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
575000000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
931000000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
443000000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
78000000 USD
CY2021Q3 us-gaap Additional Collateral Aggregate Fair Value
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177000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3615000000 USD
CY2021Q3 us-gaap Operating Lease Lease Income
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316000000 USD
CY2021Q3 us-gaap Revenue Not From Contract With Customer Other
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27000000 USD
CY2021Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
209000000 USD
CY2021Q3 us-gaap Revenues
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3824000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2515000000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
317000000 USD
CY2020Q3 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
47000000 USD
CY2020Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
404000000 USD
CY2020Q3 us-gaap Revenues
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2919000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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12016000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
953000000 USD
us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
86000000 USD
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
169000000 USD
us-gaap Revenues
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12185000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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7355000000 USD
us-gaap Operating Lease Lease Income
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910000000 USD
us-gaap Revenue Not From Contract With Customer Other
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112000000 USD
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1230000000 USD
us-gaap Revenues
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8585000000 USD
CY2021Q3 us-gaap Contract With Customer Asset Gross
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62000000 USD
CY2020Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
20000000 USD
us-gaap Contract With Customer Asset Reclassified To Receivable
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14000000 USD
CY2021Q3 us-gaap Contract With Customer Liability
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217000000 USD
CY2020Q4 us-gaap Contract With Customer Liability
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239000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
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63000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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1178000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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4022000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3186000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2711000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2277000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2021Q3 us-gaap Revenues
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3824000000 USD
CY2020Q3 us-gaap Revenues
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2919000000 USD
us-gaap Revenues
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12185000000 USD
us-gaap Revenues
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CY2021Q3 us-gaap Profit Loss
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511000000 USD
CY2020Q3 us-gaap Profit Loss
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472000000 USD
us-gaap Profit Loss
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1196000000 USD
us-gaap Profit Loss
ProfitLoss
-443000000 USD
CY2021Q3 us-gaap Assets
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69640000000 USD
CY2020Q4 us-gaap Assets
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CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
134000000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
140000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
248000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
304000000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.208
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.229
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.172
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-2.187
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1600000000 USD
CY2021Q3 us-gaap Litigation Reserve
LitigationReserve
192000000 USD
CY2020Q4 us-gaap Litigation Reserve
LitigationReserve
273000000 USD
CY2021Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
242000000 USD
CY2020Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
250000000 USD
CY2021Q3 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
12000000 USD
CY2020Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
12000000 USD

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