2016 Q4 Form 10-K Financial Statement

#000002134418000008 Filed on February 23, 2018

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015
Revenue $9.409B $11.43B $44.29B
YoY Change -17.66% 5.1% -3.7%
Cost Of Revenue $3.794B $4.577B $17.48B
YoY Change -17.11% 5.05% -2.28%
Gross Profit $5.615B $6.850B $26.81B
YoY Change -18.03% 5.14% -4.61%
Gross Profit Margin 59.68% 59.95% 60.53%
Selling, General & Admin $3.588B $4.207B $16.43B
YoY Change -14.71% -4.17% -4.59%
% of Gross Profit 63.9% 61.42% 61.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $464.0M $482.0M $1.970B
YoY Change -3.73% -3.41% -0.3%
% of Gross Profit 8.26% 7.04% 7.35%
Operating Expenses $3.976B $4.207B $16.43B
YoY Change -5.49% -10.47% -4.59%
Operating Profit $1.639B $2.379B $8.728B
YoY Change -31.11% 31.0% -10.09%
Interest Expense $25.00M $138.0M $856.0M
YoY Change -81.88% -47.92% 77.23%
% of Operating Profit 1.53% 5.8% 9.81%
Other Income/Expense, Net $7.000M -$871.0M $631.0M
YoY Change -100.8% 421.56% -149.96%
Pretax Income $515.0M $1.725B $9.605B
YoY Change -70.14% 60.32% 3.0%
Income Tax -$32.00M $272.0M $2.239B
% Of Pretax Income -6.21% 15.77% 23.31%
Net Earnings $550.0M $1.449B $7.351B
YoY Change -62.04% 88.18% 3.56%
Net Earnings / Revenue 5.85% 12.68% 16.6%
Basic Earnings Per Share $0.33 $1.69
Diluted Earnings Per Share $126.6K $0.33 $1.67
COMMON SHARES
Basic Shares Outstanding 4.313B shares 4.349B shares 4.352B shares
Diluted Shares Outstanding 4.399B shares 4.405B shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.20B $22.77B $19.90B
YoY Change -2.52% 5.07% -8.19%
Cash & Equivalents $8.555B $7.309B $7.309B
Short-Term Investments $13.65B $12.79B $12.59B
Other Short-Term Assets $5.278B $6.882B $6.652B
YoY Change -23.31% 83.77% 77.62%
Inventory $2.675B $2.902B $2.902B
Prepaid Expenses
Receivables $3.856B $3.941B $3.941B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.01B $33.40B $33.40B
YoY Change 1.84% 1.24% 1.24%
LONG-TERM ASSETS
Property, Plant & Equipment $10.64B $12.57B $12.57B
YoY Change -15.4% -14.09% -14.09%
Goodwill $10.63B $11.29B
YoY Change -5.85% -6.7%
Intangibles $6.097B $5.989B
YoY Change 1.8% -8.33%
Long-Term Investments $16.26B $12.32B $15.79B
YoY Change 32.0% 23.84% 15.88%
Other Assets $4.248B $4.110B $4.110B
YoY Change 3.36% -5.56% -6.74%
Total Long-Term Assets $53.26B $56.60B $56.60B
YoY Change -5.9% -4.04% -4.13%
TOTAL ASSETS
Total Short-Term Assets $34.01B $33.40B $33.40B
Total Long-Term Assets $53.26B $56.60B $56.60B
Total Assets $87.27B $90.00B $90.00B
YoY Change -3.03% -2.14% -2.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.395B $9.780B $9.338B
YoY Change -3.94% -65.23% 347.01%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $12.50B $17.55B $13.13B
YoY Change -28.77% -31.37%
Long-Term Debt Due $3.527B $2.676B $2.676B
YoY Change 31.8% -24.62% -24.66%
Total Short-Term Liabilities $26.53B $26.93B $26.93B
YoY Change -1.47% -16.81% -16.82%
LONG-TERM LIABILITIES
Long-Term Debt $29.68B $28.31B $28.31B
YoY Change 4.85% 48.93% 48.51%
Other Long-Term Liabilities $4.081B $4.301B $4.301B
YoY Change -5.12% -2.01% -2.01%
Total Long-Term Liabilities $33.77B $32.61B $32.61B
YoY Change 3.54% 39.37% 39.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.53B $26.93B $26.93B
Total Long-Term Liabilities $33.77B $32.61B $32.61B
Total Liabilities $60.30B $59.54B $64.44B
YoY Change 1.27% 6.76% 4.44%
SHAREHOLDERS EQUITY
Retained Earnings $65.50B $65.02B
YoY Change 0.74% 2.54%
Common Stock $16.75B $15.78B
YoY Change 6.19% 5.78%
Preferred Stock
YoY Change
Treasury Stock (at cost) $47.99B $45.07B
YoY Change 6.48% 6.73%
Treasury Stock Shares 2.752B shares 2.716B shares
Shareholders Equity $23.06B $25.55B $25.55B
YoY Change
Total Liabilities & Shareholders Equity $87.27B $90.00B $90.00B
YoY Change -3.03% -2.14% -2.2%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015
OPERATING ACTIVITIES
Net Income $550.0M $1.449B $7.351B
YoY Change -62.04% 88.18% 3.56%
Depreciation, Depletion And Amortization $464.0M $482.0M $1.970B
YoY Change -3.73% -3.41% -0.3%
Cash From Operating Activities $2.073B $3.272B $10.53B
YoY Change -36.64% 24.13% -0.82%
INVESTING ACTIVITIES
Capital Expenditures -$701.0M -$556.0M $2.553B
YoY Change 26.08% -29.44% 6.11%
Acquisitions
YoY Change
Other Investing Activities $1.035B -$1.101B $40.00M
YoY Change -194.01% 588.13% -85.07%
Cash From Investing Activities $334.0M -$1.657B -$6.186B
YoY Change -120.16% 74.79% -17.59%
FINANCING ACTIVITIES
Cash Dividend Paid $5.741B
YoY Change 7.31%
Common Stock Issuance & Retirement, Net $2.319B
YoY Change -11.83%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.762B -48.00M -$5.113B
YoY Change 9820.83% -98.6% 40.82%
NET CHANGE
Cash From Operating Activities 2.073B 3.272B $10.53B
Cash From Investing Activities 334.0M -1.657B -$6.186B
Cash From Financing Activities -4.762B -48.00M -$5.113B
Net Change In Cash -2.355B 1.567B -$771.0M
YoY Change -250.29% -189.7% 47.7%
FREE CASH FLOW
Cash From Operating Activities $2.073B $3.272B $10.53B
Capital Expenditures -$701.0M -$556.0M $2.553B
Free Cash Flow $2.774B $3.828B $7.975B
YoY Change -27.53% 11.8% -2.85%

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2021
CY2017 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
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2022
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CY2016Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
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109000000 USD
CY2017Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
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106000000 USD
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0
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0
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0.02
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0
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0
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0.02
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CY2016 us-gaap Disposal Group Not Discontinued Operation Loss Gain On Write Down
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1819000000 USD
CY2016Q4 us-gaap Due From Related Parties
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1.69
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1.51
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0.29
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1.67
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1.49
CY2017 us-gaap Earnings Per Share Diluted
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0.29
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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242000000 USD
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0.233
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.825
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017 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 Equity In Earnings Losses Of Unconsolidated Subsidiary
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-0.017
CY2016 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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-0.030
CY2017 us-gaap Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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-0.034
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.127
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.175
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.097
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0.015
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.038
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.059
CY2015 us-gaap Effective Income Tax Rate Reconciliation Repatriation Foreign Earnings Jobs Creation Act Of2004
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0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Repatriation Foreign Earnings Jobs Creation Act Of2004
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0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Repatriation Foreign Earnings Jobs Creation Act Of2004
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0.535
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.012
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.012
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0.019
CY2016Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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854000000 USD
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286000000 USD
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P3Y
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65000000 USD
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71000000 USD
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44000000 USD
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9932000000 USD
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0.17
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25000000 USD
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CY2017Q4 us-gaap Equity Method Investments
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688000000 USD
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432000000 USD
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57000000 USD
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28000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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28000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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38000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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44000000 USD
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694000000 USD
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300000000 USD
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137000000 USD
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374000000 USD
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445000000 USD
CY2017 us-gaap Gain Or Loss On Sale Of Previously Unissued Stock By Equity Investee
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25000000 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
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CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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CY2017 us-gaap Goodwill Acquired During Period
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56000000 USD
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
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87000000 USD
CY2016 us-gaap Goodwill Impairment Loss
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10000000 USD
CY2017 us-gaap Goodwill Impairment Loss
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390000000 USD
CY2016 us-gaap Goodwill Purchase Accounting Adjustments
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10000000 USD
CY2017 us-gaap Goodwill Purchase Accounting Adjustments
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18000000 USD
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CY2017 us-gaap Gross Profit
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143000000 USD
CY2017 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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33000000 USD
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15000000 USD
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23000000 USD
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113000000 USD
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CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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9605000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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8136000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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6742000000 USD
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7432000000 USD
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7366000000 USD
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6550000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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1182000000 USD
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1.69
CY2016 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.51
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.28
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.67
CY2016 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.49
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
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0.27
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
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0 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax
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101000000 USD
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0 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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0 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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34000000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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67000000 USD
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IncomeLossFromEquityMethodInvestments
489000000 USD
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IncomeLossFromEquityMethodInvestments
835000000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1071000000 USD
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122000000 USD
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449000000 USD
CY2017 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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628000000 USD
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2239000000 USD
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1586000000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5560000000 USD
CY2015 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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223000000 USD
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105000000 USD
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221000000 USD
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157000000 USD
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1554000000 USD
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1904000000 USD
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1004000000 USD
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212000000 USD
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28000000 USD
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141000000 USD
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750000000 USD
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250000000 USD
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142000000 USD
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355000000 USD
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157000000 USD
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221000000 USD
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4052000000 USD
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138000000 USD
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2675000000 USD
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2655000000 USD
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1565000000 USD
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1729000000 USD
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613000000 USD
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642000000 USD
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677000000 USD
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87270000000 USD
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27194000000 USD
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9199000000 USD
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67000000 USD
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34480000000 USD
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3527000000 USD
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3298000000 USD
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3298000000 USD
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2480000000 USD
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2930000000 USD
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4298000000 USD
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5209000000 USD
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0.017
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0.018
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40000000 USD
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41000000 USD
CY2017 us-gaap Multiemployer Plan Contributions By Employer
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35000000 USD
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0 USD
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8000000 USD
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10528000000 USD
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8796000000 USD
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6995000000 USD
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CY2017 us-gaap Net Income Loss
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1248000000 USD
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15000000 USD
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23000000 USD
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35000000 USD
CY2015 us-gaap Operating Income Loss
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8728000000 USD
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CY2017 us-gaap Operating Income Loss
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7501000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
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542000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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130000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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52000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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59000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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69000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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85000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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147000000 USD
CY2017Q4 us-gaap Operating Loss Carryforwards
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350000000 USD
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17000000 USD
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0.032
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0.160
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0.160
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0.015
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4.38
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33.70
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1869000000 USD
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171000000 shares
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34.96
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30.28
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y8M53D
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2500000000 USD
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1100000000 USD
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302000000 USD
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9000000 USD
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13000000 USD
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5000000 USD
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40000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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111000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
142000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
177000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
31000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
35000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
5000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
17000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
13000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
4000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
163000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
18000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
23000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
205000000 USD
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-172000000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
53000000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-29000000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
53000000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
50000000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
52000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4405000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4367000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4324000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4352000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4317000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4272000000 shares

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