2016 Q4 Form 10-Q Financial Statement

#000005849216000037 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $903.7M $1.039B $1.132B
YoY Change -4.33% -8.23% 2.12%
Cost Of Revenue $699.5M $721.5M $768.0M
YoY Change -1.62% -6.05% -2.58%
Gross Profit $204.2M $227.4M $241.1M
YoY Change -12.59% -5.68% 15.3%
Gross Profit Margin 22.6% 21.89% 21.29%
Selling, General & Admin $98.10M $93.90M $96.90M
YoY Change -15.36% -3.1% -26.26%
% of Gross Profit 48.04% 41.29% 40.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.00M $29.20M $28.50M
YoY Change 2.84% 2.46% -2.4%
% of Gross Profit 14.2% 12.84% 11.82%
Operating Expenses $123.6M $93.90M $96.90M
YoY Change 3.43% -3.1% -26.26%
Operating Profit $80.60M $133.5M $144.2M
YoY Change -29.36% -7.42% 85.59%
Interest Expense -$8.200M $9.900M $10.30M
YoY Change 7.89% -3.88% -0.96%
% of Operating Profit -10.17% 7.42% 7.14%
Other Income/Expense, Net
YoY Change
Pretax Income $110.0M $121.2M $132.3M
YoY Change 3.29% -8.39% 98.95%
Income Tax $27.00M $27.60M $36.10M
% Of Pretax Income 24.55% 22.77% 27.29%
Net Earnings $81.60M $93.50M $95.20M
YoY Change 1.37% -1.79% 97.51%
Net Earnings / Revenue 9.03% 9.0% 8.41%
Basic Earnings Per Share $0.60 $0.68 $0.68
Diluted Earnings Per Share $0.59 $0.67 $0.67
COMMON SHARES
Basic Shares Outstanding 133.7M shares 137.4M shares 140.4M shares
Diluted Shares Outstanding 139.4M shares 142.5M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $281.9M $317.3M $251.2M
YoY Change 11.33% 26.31% 3.42%
Cash & Equivalents $281.9M $317.3M $251.2M
Short-Term Investments
Other Short-Term Assets $35.50M $33.60M $94.30M
YoY Change 6.93% -64.37% 45.98%
Inventory $519.6M $518.6M $504.6M
Prepaid Expenses
Receivables $450.8M $508.4M $486.8M
Other Receivables $35.80M $35.40M $42.80M
Total Short-Term Assets $1.325B $1.413B $1.380B
YoY Change 1.04% 2.44% -3.85%
LONG-TERM ASSETS
Property, Plant & Equipment $565.5M $554.1M $543.7M
YoY Change 4.57% 1.91% -0.53%
Goodwill $791.3M $800.5M $815.4M
YoY Change -1.84% -1.83% -1.94%
Intangibles $164.9M $177.7M $200.3M
YoY Change -12.47% -11.28% -6.01%
Long-Term Investments $7.100M
YoY Change
Other Assets $137.5M $124.7M $127.1M
YoY Change 17.32% -1.89% 16.82%
Total Long-Term Assets $1.659B $1.657B $1.687B
YoY Change 0.41% -1.75% -3.61%
TOTAL ASSETS
Total Short-Term Assets $1.325B $1.413B $1.380B
Total Long-Term Assets $1.659B $1.657B $1.687B
Total Assets $2.984B $3.070B $3.066B
YoY Change 0.69% 0.13% -3.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $351.1M $334.9M $343.5M
YoY Change 14.29% -2.5% -3.75%
Accrued Expenses $257.7M $264.2M $312.7M
YoY Change -10.12% -15.51% 4.93%
Deferred Revenue
YoY Change
Short-Term Debt $17.80M $0.00 $0.00
YoY Change
Long-Term Debt Due $3.600M $1.000M $3.400M
YoY Change 5.88% -70.59% -99.11%
Total Short-Term Liabilities $706.6M $686.9M $751.0M
YoY Change 0.77% -8.54% -34.38%
LONG-TERM LIABILITIES
Long-Term Debt $956.2M $1.055B $989.1M
YoY Change 1.56% 6.7% 59.74%
Other Long-Term Liabilities $173.0M $171.0M $179.9M
YoY Change -6.33% -4.95% 38.38%
Total Long-Term Liabilities $1.184B $1.280B $1.215B
YoY Change 1.61% 5.35% 49.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $706.6M $686.9M $751.0M
Total Long-Term Liabilities $1.184B $1.280B $1.215B
Total Liabilities $1.890B $1.967B $1.966B
YoY Change 1.29% 0.05% 0.5%
SHAREHOLDERS EQUITY
Retained Earnings $2.411B $2.376B $2.173B
YoY Change 9.11% 9.3% 4.25%
Common Stock $506.2M $501.7M $521.2M
YoY Change -4.4% -3.74% 9.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.714B $1.701B $1.539B
YoY Change 9.56% 10.53% 9.36%
Treasury Stock Shares 65.30M shares
Shareholders Equity $1.092B $1.101B $1.089B
YoY Change
Total Liabilities & Shareholders Equity $2.984B $3.070B $3.066B
YoY Change 0.69% 0.13% -3.72%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $81.60M $93.50M $95.20M
YoY Change 1.37% -1.79% 97.51%
Depreciation, Depletion And Amortization $29.00M $29.20M $28.50M
YoY Change 2.84% 2.46% -2.4%
Cash From Operating Activities $166.9M $123.6M $129.9M
YoY Change 63.15% -4.85% -1.81%
INVESTING ACTIVITIES
Capital Expenditures -$40.90M -$25.20M -$27.20M
YoY Change 65.59% -7.35% 10.57%
Acquisitions
YoY Change
Other Investing Activities $4.500M -$12.20M $3.700M
YoY Change -85.85% -429.73% -120.56%
Cash From Investing Activities -$36.40M -$37.40M -$23.50M
YoY Change -612.68% 59.15% -44.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.5M -54.00M -124.7M
YoY Change 53.03% -56.7% -14.94%
NET CHANGE
Cash From Operating Activities 166.9M 123.6M 129.9M
Cash From Investing Activities -36.40M -37.40M -23.50M
Cash From Financing Activities -151.5M -54.00M -124.7M
Net Change In Cash -21.00M 32.20M -18.30M
YoY Change -301.92% -275.96% -67.84%
FREE CASH FLOW
Cash From Operating Activities $166.9M $123.6M $129.9M
Capital Expenditures -$40.90M -$25.20M -$27.20M
Free Cash Flow $207.8M $148.8M $157.1M
YoY Change 63.62% -5.28% 0.13%

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CY2016Q3 us-gaap Defined Benefit Plan Interest Cost
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2800000 USD
us-gaap Defined Benefit Plan Interest Cost
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8700000 USD
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1400000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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4600000 USD
CY2016Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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1600000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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5700000 USD
CY2015Q3 us-gaap Defined Benefit Plan Service Cost
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1200000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
3100000 USD
CY2016Q3 us-gaap Defined Benefit Plan Service Cost
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1100000 USD
us-gaap Defined Benefit Plan Service Cost
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3400000 USD
us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year
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10000000 USD
us-gaap Depreciation
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62700000 USD
us-gaap Depreciation
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65100000 USD
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us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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1700000 USD
CY2016Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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200000 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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32100000 USD
CY2015Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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0 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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500000 USD
CY2016Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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200000 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
11700000 USD
us-gaap Dividends Common Stock
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128900000 USD
us-gaap Dividends Common Stock
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134000000 USD
CY2015Q3 us-gaap Earnings Per Share Basic
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0.68
us-gaap Earnings Per Share Basic
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1.73
CY2016Q3 us-gaap Earnings Per Share Basic
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0.68
CY2015Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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2700000 USD
CY2015Q3 us-gaap Earnings Per Share Diluted
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0.67
us-gaap Earnings Per Share Diluted
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1.71
CY2016Q3 us-gaap Earnings Per Share Diluted
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0.67
us-gaap Earnings Per Share Diluted
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2.17
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-11500000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-5300000 USD
CY2016Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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8800000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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23400000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
14800000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
14800000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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0 USD
CY2015Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0 USD
CY2016Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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139800000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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137400000 USD
CY2015Q3 us-gaap Gain Loss On Disposition Of Assets1
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-200000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2300000 USD
CY2016Q3 us-gaap Gain Loss On Disposition Of Assets1
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-100000 USD
us-gaap Gain Loss On Disposition Of Assets1
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20600000 USD
CY2015Q4 us-gaap Goodwill
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806100000 USD
CY2016Q3 us-gaap Goodwill
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800500000 USD
CY2015Q1 us-gaap Goodwill Impairment Loss
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4100000 USD
CY2015Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
4100000 USD
CY2016Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3700000 USD
CY2015Q3 us-gaap Gross Profit
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241100000 USD
us-gaap Gross Profit
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689600000 USD
CY2016Q3 us-gaap Gross Profit
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227400000 USD
us-gaap Gross Profit
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695000000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations
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95300000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
243400000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
93500000 USD
us-gaap Income Loss From Continuing Operations
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283800000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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132300000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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343300000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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121200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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377100000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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141500000 USD
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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372400000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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130200000 USD
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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403800000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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96200000 USD
us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.70
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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246200000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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93600000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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284100000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.68
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.72
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.68
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.05
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IncomeLossFromContinuingOperationsPerDilutedShare
0.67
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.67
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.02
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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-100000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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1200000 USD
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
20400000 USD
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.15
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.15
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
97100000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27600000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
93000000 USD
CY2015Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
32600000 USD
CY2016Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
10600000 USD
CY2015Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
0 USD
CY2016Q3 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
0 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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25400000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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41000000 USD
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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27900000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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-6400000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Inventories
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42000000 USD
us-gaap Increase Decrease In Inventories
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20300000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-2100000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-800000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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188400000 USD
CY2016Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
177700000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
10300000 USD
us-gaap Interest Expense
InterestExpense
32500000 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
9900000 USD
us-gaap Interest Expense
InterestExpense
29400000 USD
CY2015Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
242800000 USD
CY2016Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
240000000 USD
CY2015Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
22600000 USD
CY2016Q3 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
25900000 USD
CY2015Q3 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-13300000 USD
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
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CY2016Q3 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-4700000 USD
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
2600000 USD
CY2015Q4 us-gaap Inventory Net
InventoryNet
504600000 USD
CY2016Q3 us-gaap Inventory Net
InventoryNet
518600000 USD
CY2015Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
241800000 USD
CY2016Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
258200000 USD
CY2015Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
42600000 USD
CY2016Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
46300000 USD
us-gaap Inventory Write Down
InventoryWriteDown
6500000 USD
us-gaap Inventory Write Down
InventoryWriteDown
4200000 USD
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1100000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
3400000 USD
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
900000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
2700000 USD
CY2015Q4 us-gaap Land
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40000000 USD
CY2016Q3 us-gaap Land
Land
38500000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2963700000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3070300000 USD
CY2015Q4 us-gaap Liabilities Current
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701200000 USD
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
686900000 USD
CY2015Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1164800000 USD
CY2016Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1279800000 USD
CY2016Q2 us-gaap Litigation Settlement Amount
LitigationSettlementAmount
38000000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
941500000 USD
CY2016Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1055400000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3400000 USD
CY2016Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1000000 USD
CY2014Q4 us-gaap Loss Contingency Accrual At Carrying Value
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83900000 USD
CY2015Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
68900000 USD
CY2015Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
41400000 USD
CY2015Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
8100000 USD
CY2016Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4100000 USD
CY2016Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
4100000 USD
CY2015Q3 us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
27500000 USD
us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
44700000 USD
CY2016Q3 us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
0 USD
us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
9000000 USD
CY2016Q3 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
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32000000 USD
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1099100000 USD
CY2016Q3 us-gaap Machinery And Equipment Gross
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1135700000 USD
CY2015Q4 us-gaap Minority Interest
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12100000 USD
CY2016Q3 us-gaap Minority Interest
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2400000 USD
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1600000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
256800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
385700000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
95200000 USD
us-gaap Net Income Loss
NetIncomeLoss
244600000 USD
CY2016Q3 us-gaap Net Income Loss
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93500000 USD
us-gaap Net Income Loss
NetIncomeLoss
304200000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
900000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2800000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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300000 USD
us-gaap Noncontrolling Interest Decrease From Deconsolidation
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35300000 USD
us-gaap Number Of Operating Segments
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4 Segment
CY2015Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
2400000 USD
CY2016Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
300000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
300000 USD
CY2015Q4 us-gaap Other Assets Current
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33200000 USD
CY2016Q3 us-gaap Other Assets Current
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33600000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
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117200000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
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124700000 USD
CY2015Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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900000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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2700000 USD
CY2016Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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600000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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2200000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
3700000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
17300000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2300000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
8300000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3400000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
800000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13900000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
900000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
4400000 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
103900000 USD
CY2016Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
86800000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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184700000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
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171000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
800000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5100000 USD
CY2015Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
38900000 USD
CY2016Q3 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
24800000 USD
CY2015Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
71500000 USD
CY2016Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
35400000 USD
CY2012Q3 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
42700000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4900000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8700000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
162500000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
181400000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
128000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
132000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">INTERIM PRESENTATION</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interim financial statements of Leggett&#160;&amp; Platt, Incorporated (&#8220;we&#8221;, &#8220;us&#8221; or &#8220;our&#8221;) included herein have not been audited by an independent registered public accounting firm. The statements include all adjustments, including normal recurring accruals, which management considers necessary for a fair statement of our financial position and operating results for the periods presented. We have prepared the statements pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of results to be expected for an entire year.</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The December&#160;31, 2015 financial position data included herein was derived from the audited consolidated financial statements included in Form 10-K, but does not include all disclosures required by GAAP. For further information, refer to the financial statements and footnotes included in our annual report on Form 10-K for the year ended December&#160;31, 2015.</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the prior period's information in the Consolidated Condensed Financial Statements and related notes to conform to the third quarter 2016 income statement and September 30, 2016 balance sheet presentation. The first reclassification was a result of changes in our management organizational structure and related internal reporting (See Note 4 - Segment Information). The final was a balance sheet reclassification associated with new accounting guidance for the presentation of debt issuance costs as discussed below.</font></div></div>
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Financial Accounting Standards Board (FASB) regularly issues&#160;updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). &#160;&#160;Below is a summary of the ASUs, effective for current or future periods, most relevant to our financial statements: </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160; </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASU 2016-09 &#8220;Improvements to Employee Share-Based Payment Accounting&#8221;:&#160; Simplifies the financial reporting for share-based compensation.&#160; We adopted this guidance in the first quarter of 2016:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All income tax effects of stock-based compensation are now classified within income tax expense, rather than recognizing some of the effects in additional contributed capital.&#160; To the extent tax deductions from stock-based compensation payments differ from the compensation cost recognized for financial reporting purposes, the tax effects are recorded as discrete items in that quarter.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Prospective application was required, and the impact of adopting this new guidance resulted in an additional tax benefit of </font><font style="font-family:inherit;font-size:10pt;">$8.8</font><font style="font-family:inherit;font-size:10pt;"> recorded in the third quarter of 2016, and </font><font style="font-family:inherit;font-size:10pt;">$17.1</font><font style="font-family:inherit;font-size:10pt;"> for the first nine months of 2016.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This ASU impacted the calculation of the dilutive effect of stock-based compensation on earnings per share, which resulted in an increase in our average diluted shares outstanding of approximately </font><font style="font-family:inherit;font-size:10pt;">.5</font><font style="font-family:inherit;font-size:10pt;"> shares. &#160;&#160;&#160;&#160;&#160;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The income tax effects are now classified as cash flow from operations, rather than cash flow from financing activities. We have elected to apply this cash flow classification guidance prospectively. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consistent with our past practice, when shares are withheld from the issuance of stock to fund the payment of the employee&#8217;s taxes, the payment is classified as a financing activity.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><font style="font-family:inherit;font-size:10pt;">&#9702;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have elected to continue to estimate the number of stock-based awards expected to vest, rather than electing to account for forfeitures as they occur. </font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASU 2016 -02 &#8220; Leases&#8221;:&#160; Requires that a lessee recognize a right-of-use asset and a lease liability on the balance sheet for most lease arrangements. This ASU will be effective January 1, 2019, and we are assessing all potential impacts of the standard. Currently, we anticipate adopting this standard January 1, 2019. We believe it will most significantly impact our assets and liabilities for the addition of right-of-use assets and the corresponding lease liabilities on the balance sheet. We are evaluating its impact on our statements of operations and cash flows.</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASUs 2016-13 &#8220;Financial Instruments - Credit Losses&#8221;, 2016-15 &#8220;Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)&#8221;, and 2016-16 &#8220;Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory&#8221; are currently being evaluated, however, we do not expect these updates to materially impact our future financial statements.</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASU 2015-03 &#8220;Simplifying the Presentation of Debt Issuance Costs&#8221;:&#160; Changes the presentation of long-term debt issuance costs in the financial statements to a reduction of the related liability rather than as a separate asset. We adopted this ASU in the first quarter of 2016 and retrospectively reclassified net deferred loan costs associated with each of our long-term debt issuances from assets to long-term debt on the balance sheet.&#160; The adoption of this ASU did not have a material impact on our financial statements. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASU 2014-09 &#8220;Revenue from Contracts with Customers&#8221;:&#160; Supersedes most of the existing authoritative literature for revenue recognition and prescribes a five-step model for recognizing revenue from contracts with customers. In July 2015, the FASB&#160;deferred the effective date of this ASU by one year, which results in the new standard being effective January 1, 2018. In addition, the FASB has issued several amendments to the standard during 2016. This standard permits two transition methods, the full retrospective method or the modified retrospective method. The new standard will also require expanded disclosures pertaining to revenues from contracts with customers in the notes to the financial statements. </font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We established a cross-functional implementation team in 2014 to assess all potential impacts of this standard We continue to make progress in implementing the new revenue standard and in evaluating its impact on our future financial statements. We have not yet selected a transition method. We will apply the guidance at the new revenue standard&#8217;s effective date of January 1, 2018.</font></div></div>

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