2016 Q1 Form 8-K Financial Statement

#000002134416000077 Filed on October 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2014 Q4 2013 Q4
Revenue $10.87B $11.04B
YoY Change -1.52% -3.62%
Cost Of Revenue $4.357B $4.315B
YoY Change 0.97% -6.76%
Gross Profit $6.515B $6.725B
YoY Change -3.12% -1.49%
Gross Profit Margin 59.92% 60.91%
Selling, General & Admin $4.390B $4.347B
YoY Change 0.99% -40.18%
% of Gross Profit 67.38% 64.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $499.0M $533.0M
YoY Change -6.38% 3.9%
% of Gross Profit 7.66% 7.93%
Operating Expenses $4.699B $4.461B
YoY Change 5.34% -3.94%
Operating Profit $1.816B $2.264B
YoY Change -19.79% 3.71%
Interest Expense $265.0M $131.0M
YoY Change 102.29% -38.5%
% of Operating Profit 14.59% 5.79%
Other Income/Expense, Net -$167.0M $20.00M
YoY Change -935.0% -205.26%
Pretax Income $1.076B $2.228B
YoY Change -51.71% -6.27%
Income Tax $305.0M $520.0M
% Of Pretax Income 28.35% 23.34%
Net Earnings $770.0M $1.710B
YoY Change -54.97% -8.36%
Net Earnings / Revenue 7.08% 15.49%
Basic Earnings Per Share
Diluted Earnings Per Share $173.5K $381.5K
COMMON SHARES
Basic Shares Outstanding 4.329B shares 4.380B shares 4.416B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.68B $20.27B
YoY Change 6.94% 22.46%
Cash & Equivalents $8.958B $10.41B
Short-Term Investments $12.72B $9.854B
Other Short-Term Assets $3.745B $2.886B
YoY Change 29.76% -49.84%
Inventory $3.100B $3.277B
Prepaid Expenses
Receivables $4.466B $4.873B
Other Receivables $0.00 $0.00
Total Short-Term Assets $32.99B $31.30B
YoY Change 5.37% 3.22%
LONG-TERM ASSETS
Property, Plant & Equipment $14.63B $14.97B
YoY Change -2.23% 3.39%
Goodwill $12.10B $12.31B
YoY Change -1.72% 0.47%
Intangibles $6.533B $6.744B
YoY Change -3.13% 3.32%
Long-Term Investments $9.947B $10.39B
YoY Change -4.29% 12.77%
Other Assets $4.352B $4.661B
YoY Change -6.63% 30.01%
Total Long-Term Assets $58.98B $58.75B
YoY Change 0.39% 5.2%
TOTAL ASSETS
Total Short-Term Assets $32.99B $31.30B
Total Long-Term Assets $58.98B $58.75B
Total Assets $91.97B $90.06B
YoY Change 2.12% 4.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.13B $1.933B
YoY Change 1355.15% -77.59%
Accrued Expenses $7.644B
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $16.90B
YoY Change -100.0% 3.71%
Long-Term Debt Due $3.550B $1.024B
YoY Change 246.68% -35.07%
Total Short-Term Liabilities $32.37B $27.81B
YoY Change 16.4% -0.04%
LONG-TERM LIABILITIES
Long-Term Debt $19.01B $19.15B
YoY Change -0.75% 29.98%
Other Long-Term Liabilities $4.389B $3.498B
YoY Change 25.47% -36.03%
Total Long-Term Liabilities $23.40B $22.65B
YoY Change 3.3% 12.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.37B $27.81B
Total Long-Term Liabilities $23.40B $22.65B
Total Liabilities $55.77B $50.46B
YoY Change 10.52% 5.08%
SHAREHOLDERS EQUITY
Retained Earnings $63.41B $61.66B
YoY Change 2.83% 6.23%
Common Stock $14.91B $14.04B
YoY Change 6.26% 6.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.23B $39.09B
YoY Change 8.02% 11.66%
Treasury Stock Shares 2.674B shares 2.638B shares
Shareholders Equity $30.32B $33.17B
YoY Change
Total Liabilities & Shareholders Equity $91.97B $90.06B
YoY Change 2.12% 4.5%

Cashflow Statement

Concept 2016 Q1 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $770.0M $1.710B
YoY Change -54.97% -8.36%
Depreciation, Depletion And Amortization $499.0M $533.0M
YoY Change -6.38% 3.9%
Cash From Operating Activities $2.636B $2.830B
YoY Change -6.86% 0.89%
INVESTING ACTIVITIES
Capital Expenditures -$788.0M -$925.0M
YoY Change -14.81% 14.34%
Acquisitions
YoY Change
Other Investing Activities -$160.0M -$306.0M
YoY Change -47.71% 56.12%
Cash From Investing Activities -$948.0M -$1.231B
YoY Change -22.99% 22.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.435B -2.362B
YoY Change 45.43% -19.88%
NET CHANGE
Cash From Operating Activities 2.636B 2.830B
Cash From Investing Activities -948.0M -1.231B
Cash From Financing Activities -3.435B -2.362B
Net Change In Cash -1.747B -763.0M
YoY Change 128.96% -33.54%
FREE CASH FLOW
Cash From Operating Activities $2.636B $2.830B
Capital Expenditures -$788.0M -$925.0M
Free Cash Flow $3.424B $3.755B
YoY Change -8.81% 3.9%

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UnrecognizedTaxBenefitsChangesResultingFromEffectsOfForeignCurrencyTranslations
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CY2015Q4 ko Unrecognized Tax Benefits Different Tax Jurisdictions
UnrecognizedTaxBenefitsDifferentTaxJurisdictions
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CY2014 ko Unusual Or Infrequent Event Charges
UnusualOrInfrequentEventCharges
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CY2015 ko Unusual Or Infrequent Event Charges
UnusualOrInfrequentEventCharges
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UnusualOrInfrequentItemOperating
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CY2014 ko Unusual Or Infrequent Item Operating
UnusualOrInfrequentItemOperating
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CY2015 ko Unusual Or Infrequent Item Operating
UnusualOrInfrequentItemOperating
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AccountsPayableAndAccruedLiabilitiesCurrent
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CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
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CY2014Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
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CY2015Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
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CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2014Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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CY2015Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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CY2014Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
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CY2015Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
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CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
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CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
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CY2013 us-gaap Advertising Expense
AdvertisingExpense
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CY2014 us-gaap Advertising Expense
AdvertisingExpense
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CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2015 us-gaap Advertising Expense
AdvertisingExpense
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CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2013 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2014 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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Assets
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CY2015Q4 us-gaap Assets
Assets
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CY2014Q4 us-gaap Assets Current
AssetsCurrent
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CY2015Q4 us-gaap Assets Current
AssetsCurrent
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CY2014Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
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CY2015Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
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CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
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CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
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CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
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CY2015Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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CY2015Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2014 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
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CY2015 us-gaap Available For Sale Securities Gross Realized Gains
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CY2014 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
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CY2015 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
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CashAndCashEquivalentsAtCarryingValue
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CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CashCashEquivalentsAndShortTermInvestments
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CY2015Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
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CommercialPaper
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CommercialPaper
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CY2014 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2015 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2014Q4 us-gaap Common Stock Shares Authorized
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CY2015Q4 us-gaap Common Stock Shares Authorized
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CY2015Q4 us-gaap Common Stock Shares Issued
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CY2015Q4 us-gaap Common Stock Value
CommonStockValue
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DeferredIncomeTaxExpenseBenefit
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2020
CY2015Q4 us-gaap Defined Benefit Plan Year That Rate Reaches Ultimate Trend Rate
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2021
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CY2014Q4 us-gaap Due From Related Parties
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0.233
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.103
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.005
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.015
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.001
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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-0.016
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.003
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.010
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.010
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.012
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
EffectiveIncomeTaxRateReconciliationTaxContingenciesForeign
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P1Y9M34D
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CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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149000000 USD
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CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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57000000 USD
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60000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2013 us-gaap Gain Or Loss On Sale Of Previously Unissued Stock By Equity Investee
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371000000 USD
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6000000 USD
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CY2013 us-gaap Income Tax Reconciliation Tax Credits Foreign
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279000000 USD
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265000000 USD
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223000000 USD
CY2013 us-gaap Income Taxes Paid
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105000000 USD
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250000000 USD
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163000000 USD
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26000000 USD
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56000000 USD
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183000000 USD
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243000000 USD
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151000000 USD
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63000000 USD
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49000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Tax
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0 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Tax
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894000000 USD
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594000000 USD
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8000000 shares
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36.53
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13000000 shares
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3.73
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3.91
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4.38
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2786000000 USD
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305000000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
266000000 shares
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31.60
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2775000000 USD
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264000000 shares
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CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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2700000000 USD
CY2014 us-gaap Shipping Handling And Transportation Costs
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CY2015 us-gaap Shipping Handling And Transportation Costs
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2500000000 USD
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0.002
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53000000 shares
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58000000 shares
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StockIssuedDuringPeriodSharesStockOptionsExercised
44000000 shares
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30320000000 USD
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2716000000 shares
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42225000000 USD
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45066000000 USD
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302000000 USD
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230000000 USD
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211000000 USD
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4000000 USD
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5000000 USD
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5000000 USD
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113000000 USD
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8000000 USD
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8000000 USD
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11000000 USD
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5000000 USD
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1000000 USD
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63000000 USD
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63000000 shares
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WeightedAverageNumberDilutedSharesOutstandingAdjustment
53000000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
4450000000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
4405000000 shares
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4352000000 shares
CY2015 ko Assetsand Liabilities Heldfor Sale
AssetsandLiabilitiesHeldforSale
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Assets and Liabilities Held for Sale</font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our Company classifies long-lived assets or disposal groups to be sold as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the asset or disposal group; the asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets or disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell the asset or disposal group have been initiated; the sale of the asset or disposal group is probable, and transfer of the asset or disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond our control extend the period of time required to sell the asset or disposal group beyond one year; the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.</font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset or disposal group until the date of sale. We assess the fair value of a long-lived asset or disposal group less any costs to sell each reporting period it remains classified as held for sale and report any subsequent changes as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale.</font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Upon determining that a long-lived asset or disposal group meets the criteria to be classified as held for sale, the Company ceases depreciation and reports long-lived assets and/or the assets and liabilities of the disposal group, if material, in the line items assets held for sale and liabilities held for sale, respectively, in our consolidated balance sheet. Refer to Note 2.</font></div></div>

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