2015 Q4 Form 10-Q Financial Statement

#000156459015009720 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $363.7M $433.8M $426.7M
YoY Change -14.76% -1.43% 24.84%
Cost Of Revenue $307.3M $359.1M $369.7M
YoY Change -16.88% -4.75% 25.45%
Gross Profit $56.40M $74.70M $57.00M
YoY Change -1.05% 18.38% 21.02%
Gross Profit Margin 15.51% 17.22% 13.36%
Selling, General & Admin $30.90M $30.80M $40.90M
YoY Change -24.45% -3.75% 109.74%
% of Gross Profit 54.79% 41.23% 71.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.80M $12.50M $14.20M
YoY Change -2.82% 11.61% 79.75%
% of Gross Profit 24.47% 16.73% 24.91%
Operating Expenses $40.30M $30.80M $55.10M
YoY Change -26.86% -3.75% 101.09%
Operating Profit -$90.60M $27.00M $2.100M
YoY Change -4414.29% 56.07% -73.08%
Interest Expense -$12.20M $12.60M -$13.80M
YoY Change -11.59% 5.88% 109.09%
% of Operating Profit 46.67% -657.14%
Other Income/Expense, Net -$200.0K $0.00 $300.0K
YoY Change -166.67% -100.0% -57.14%
Pretax Income -$103.0M $14.40M -$11.40M
YoY Change 803.51% 176.92% -700.0%
Income Tax -$14.20M $5.200M $25.00M
% Of Pretax Income 36.11%
Net Earnings -$87.70M $10.10M -$33.50M
YoY Change 161.79% -474.07% 717.07%
Net Earnings / Revenue -24.11% 2.33% -7.85%
Basic Earnings Per Share -$4.27 $0.48 -$1.63
Diluted Earnings Per Share -$4.27 $0.48 -$1.63
COMMON SHARES
Basic Shares Outstanding 20.55M 20.55M 20.50M shares
Diluted Shares Outstanding 20.63M

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.80M $33.00M $51.10M
YoY Change -57.34% -56.06% -37.83%
Cash & Equivalents $21.80M $33.00M $51.10M
Short-Term Investments
Other Short-Term Assets $27.00M $39.20M $30.30M
YoY Change -10.89% -1.01% -15.13%
Inventory $226.4M $208.7M $241.2M
Prepaid Expenses $20.60M
Receivables $155.0M $198.5M $198.7M
Other Receivables $14.10M $9.500M $9.500M
Total Short-Term Assets $444.3M $502.3M $541.3M
YoY Change -17.92% -17.38% 14.42%
LONG-TERM ASSETS
Property, Plant & Equipment $277.8M $289.4M $299.7M
YoY Change -7.31% 0.91% 52.13%
Goodwill $186.6M $252.6M $247.2M
YoY Change -24.51% 6.13% 240.03%
Intangibles $158.9M $167.7M
YoY Change -11.77% 1274.59%
Long-Term Investments $800.0K $5.000M
YoY Change -85.96% -24.24%
Other Assets $11.50M $25.10M $30.20M
YoY Change -61.92% 0.4% 115.71%
Total Long-Term Assets $668.6M $735.1M $752.6M
YoY Change -11.16% -1.45% 141.37%
TOTAL ASSETS
Total Short-Term Assets $444.3M $502.3M $541.3M
Total Long-Term Assets $668.6M $735.1M $752.6M
Total Assets $1.113B $1.237B $1.294B
YoY Change -13.99% -8.6% 64.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.8M $151.6M $120.6M
YoY Change 16.75% 23.86% 12.08%
Accrued Expenses $99.80M $97.70M $122.5M
YoY Change -18.53% -4.78% 48.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $39.90M $45.10M $43.90M
YoY Change -9.11% 50.33%
Total Short-Term Liabilities $280.5M $294.4M $292.1M
YoY Change -3.97% 13.19% 49.72%
LONG-TERM LIABILITIES
Long-Term Debt $682.4M $718.0M $806.6M
YoY Change -15.4% -14.27% 166.12%
Other Long-Term Liabilities $103.1M $88.20M $46.40M
YoY Change 122.2% 105.12% 14.29%
Total Long-Term Liabilities $785.5M $806.2M $853.0M
YoY Change -7.91% -8.44% 148.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $280.5M $294.4M $292.1M
Total Long-Term Liabilities $785.5M $806.2M $853.0M
Total Liabilities $1.125B $1.162B $1.210B
YoY Change -7.0% -2.25% 103.33%
SHAREHOLDERS EQUITY
Retained Earnings -$54.00M $33.80M $18.00M
YoY Change -400.0% -40.39% -74.75%
Common Stock $168.0M $167.7M $164.7M
YoY Change 2.0% 1.82% 3.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $52.70M $52.70M $52.40M
YoY Change 0.57% 0.57% 3.97%
Treasury Stock Shares $1.459M $1.459M $1.443M
Shareholders Equity -$18.50M $68.00M $70.00M
YoY Change
Total Liabilities & Shareholders Equity $1.113B $1.237B $1.294B
YoY Change -13.99% -8.6% 64.85%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$87.70M $10.10M -$33.50M
YoY Change 161.79% -474.07% 717.07%
Depreciation, Depletion And Amortization $13.80M $12.50M $14.20M
YoY Change -2.82% 11.61% 79.75%
Cash From Operating Activities $32.60M $17.00M $24.70M
YoY Change 31.98% -12.82% -52.5%
INVESTING ACTIVITIES
Capital Expenditures -$14.30M -$9.100M -$24.80M
YoY Change -42.34% -61.11% -42.99%
Acquisitions
YoY Change
Other Investing Activities $200.0K $2.200M $200.0K
YoY Change 0.0% -100.47% -111.11%
Cash From Investing Activities -$14.10M -$6.900M -$24.60M
YoY Change -42.68% -98.59% -45.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.10M -29.70M -21.50M
YoY Change 26.05% -106.03% -1891.67%
NET CHANGE
Cash From Operating Activities 32.60M 17.00M 24.70M
Cash From Investing Activities -14.10M -6.900M -24.60M
Cash From Financing Activities -27.10M -29.70M -21.50M
Net Change In Cash -8.600M -19.60M -21.40M
YoY Change -59.81% -191.16% -370.89%
FREE CASH FLOW
Cash From Operating Activities $32.60M $17.00M $24.70M
Capital Expenditures -$14.30M -$9.100M -$24.80M
Free Cash Flow $46.90M $26.10M $49.50M
YoY Change -5.25% -39.16% -48.17%

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CY2015Q3 kop Effective Income Tax Rate Reconciliation Foreign Earnings Taxed At Different Rates
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CY2014Q3 kop Effective Income Tax Rate Reconciliation Foreign Earnings Taxed At Different Rates
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CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2015Q3 kop Effective Income Tax Rate Reconciliation Uncertain Tax Positions Rate
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CY2014Q3 kop Effective Income Tax Rate Reconciliation Uncertain Tax Positions Rate
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsRate
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CY2015Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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kop Discrete Income Tax Expense Benefit
DiscreteIncomeTaxExpenseBenefit
1600000
kop Discrete Income Tax Expense Benefit
DiscreteIncomeTaxExpenseBenefit
6000000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
kop Effective Income Tax Rate Reconciliation Foreign Earnings Taxed At Different Rates
EffectiveIncomeTaxRateReconciliationForeignEarningsTaxedAtDifferentRates
0.037
kop Effective Income Tax Rate Reconciliation Foreign Earnings Taxed At Different Rates
EffectiveIncomeTaxRateReconciliationForeignEarningsTaxedAtDifferentRates
0.388
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.014
kop Effective Income Tax Rate Reconciliation Uncertain Tax Positions Rate
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsRate
0.012
kop Effective Income Tax Rate Reconciliation Uncertain Tax Positions Rate
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsRate
0.020
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.008
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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0.020
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.004
CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
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CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
6000000
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6600000
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7200000
CY2015Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1500000
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2700000
CY2015Q3 us-gaap Inventory Raw Materials
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158300000
CY2014Q4 us-gaap Inventory Raw Materials
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CY2015Q3 us-gaap Inventory Work In Process
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CY2014Q4 us-gaap Inventory Work In Process
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CY2015Q3 us-gaap Inventory Finished Goods
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CY2014Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2015Q3 us-gaap Inventory Gross
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CY2014Q4 us-gaap Inventory Gross
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CY2015Q3 us-gaap Inventory Lifo Reserve
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CY2014Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
56100000
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
739700000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2015Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
450300000
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
442900000
CY2015Q3 kop Number Of Non Qualified Defined Benefit Pension Plans
NumberOfNonQualifiedDefinedBenefitPensionPlans
3
CY2015Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
500000
CY2014Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
700000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1500000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1900000
CY2015Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2700000
CY2014Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2800000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
8100000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
8800000
CY2015Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3000000
CY2014Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3500000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
9000000
CY2015Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-100000
CY2014Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-200000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-100000
CY2015Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1700000
CY2014Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
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us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
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us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3000000
CY2015Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1800000
CY2014Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1000000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
5400000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3100000
CY2015Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2100000
CY2014Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1300000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
4200000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
4500000
kop Defined Contribution Plan Employer Discretionary Matching Contribution Reversal
DefinedContributionPlanEmployerDiscretionaryMatchingContributionReversal
2200000
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
763100000
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
850500000
CY2014Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
30500000
CY2013Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
23200000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
800000
CY2014 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3100000
CY2014 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
2300000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
8300000
CY2014 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
10300000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
5500000
CY2014 us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
4600000
us-gaap Asset Retirement Obligation Foreign Currency Translation
AssetRetirementObligationForeignCurrencyTranslation
-500000
CY2014 us-gaap Asset Retirement Obligation Foreign Currency Translation
AssetRetirementObligationForeignCurrencyTranslation
-700000
CY2015Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
36700000
CY2014Q4 us-gaap Deferred Revenue
DeferredRevenue
2500000
CY2013Q4 us-gaap Deferred Revenue
DeferredRevenue
3200000
kop Deferred Revenue Advance Payment
DeferredRevenueAdvancePayment
30000000
CY2014 kop Deferred Revenue Advance Payment
DeferredRevenueAdvancePayment
0
us-gaap Deferred Revenue Revenue Recognized
DeferredRevenueRevenueRecognized
1600000
CY2014 us-gaap Deferred Revenue Revenue Recognized
DeferredRevenueRevenueRecognized
700000
CY2015Q3 us-gaap Deferred Revenue
DeferredRevenue
30900000
CY2015Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
29900000
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
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P30M
kop Loss Contingency Number Of States New Claims Filed
LossContingencyNumberOfStatesNewClaimsFiled
2
kop Loss Contingency Number Of Plaintiffs Present During Period
LossContingencyNumberOfPlaintiffsPresentDuringPeriod
110
CY2014 kop Loss Contingency Number Of Plaintiffs Present During Period
LossContingencyNumberOfPlaintiffsPresentDuringPeriod
112
CY2015Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
59
CY2014Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
60
kop Single Family Residential Properties Number Of Owners
SingleFamilyResidentialPropertiesNumberOfOwners
7000
kop Single Family Residential Properties Extension Sought By Plaintiffs From Former Plant Area
SingleFamilyResidentialPropertiesExtensionSoughtByPlaintiffsFromFormerPlantArea
2
CY2004Q3 kop Environmental Legal Indemnification Expense
EnvironmentalLegalIndemnificationExpense
7000000
kop Number Of Sites Listed On National Priorities List
NumberOfSitesListedOnNationalPrioritiesList
1
CY2015Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
7100000
CY2014Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
3300000
CY2014Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
7800000
CY2013Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
11900000
us-gaap Accrual For Environmental Loss Contingencies Provision For New Losses
AccrualForEnvironmentalLossContingenciesProvisionForNewLosses
600000
CY2014 us-gaap Accrual For Environmental Loss Contingencies Provision For New Losses
AccrualForEnvironmentalLossContingenciesProvisionForNewLosses
800000
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
100000
CY2014 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
1500000
us-gaap Accrual For Environmental Loss Contingencies Payments
AccrualForEnvironmentalLossContingenciesPayments
800000
CY2014 us-gaap Accrual For Environmental Loss Contingencies Payments
AccrualForEnvironmentalLossContingenciesPayments
3700000
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Acquisitions And Divestitures
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForAcquisitionsAndDivestitures
13600000
CY2014 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Acquisitions And Divestitures
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForAcquisitionsAndDivestitures
700000
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Currency Translation
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForCurrencyTranslation
-1100000
CY2014 us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Currency Translation
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForCurrencyTranslation
-400000
CY2015Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
20000000

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