2016 Q1 Form 10-K Financial Statement

#000143774916026441 Filed on March 01, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2016 2014 Q4
Revenue $220.0M $867.9M $206.6M
YoY Change 4.61% 0.0% 4.29%
Cost Of Revenue $137.3M $537.4M $131.1M
YoY Change 2.48% -0.01% 8.35%
Gross Profit $82.70M $413.1M $75.56M
YoY Change 8.35% 25.0% -2.01%
Gross Profit Margin 37.59% 47.6% 36.57%
Selling, General & Admin $41.30M $206.1M $37.50M
YoY Change 13.63% 12.27% 8.38%
% of Gross Profit 49.94% 49.9% 49.63%
Research & Development $8.600M $42.20M $8.300M
YoY Change 16.47% 37.01% 23.88%
% of Gross Profit 10.4% 10.21% 10.98%
Depreciation & Amortization $10.40M $53.14M $10.70M
YoY Change -0.17% 27.73% 22.99%
% of Gross Profit 12.58% 12.86% 14.16%
Operating Expenses $52.90M $282.5M $48.80M
YoY Change 13.08% 24.82% 10.16%
Operating Profit $29.80M $130.6M $26.39M
YoY Change 0.85% 25.38% -19.6%
Interest Expense -$1.300M $8.628M -$3.100M
YoY Change -212.95% -431.85% -875.0%
% of Operating Profit -4.36% 6.6% -11.75%
Other Income/Expense, Net $1.700M $1.730M $1.800M
YoY Change 50.98% -67.96% 63.64%
Pretax Income $30.20M $123.3M $25.10M
YoY Change 14.37% 15.32% -26.82%
Income Tax $9.300M $18.79M $5.600M
% Of Pretax Income 30.79% 15.24% 22.31%
Net Earnings $20.90M $104.5M $19.51M
YoY Change 4.53% 29.16% -17.53%
Net Earnings / Revenue 9.5% 12.04% 9.44%
Basic Earnings Per Share $4.63 $0.86
Diluted Earnings Per Share $924.8K $4.60 $0.86
COMMON SHARES
Basic Shares Outstanding 22.34M 22.56M shares
Diluted Shares Outstanding 22.73M shares

Balance Sheet

Concept 2016 Q1 2016 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $333.0M $278.8M $301.9M
YoY Change 11.93% -16.28% -3.27%
Cash & Equivalents $328.8M $275.1M $297.6M
Short-Term Investments $4.200M $3.700M $4.300M
Other Short-Term Assets $7.900M $31.50M $36.90M
YoY Change -78.71% 298.73% 11.48%
Inventory $98.63M $114.1M $97.39M
Prepaid Expenses
Receivables $142.9M $176.0M $135.4M
Other Receivables $1.500M $11.70M $0.00
Total Short-Term Assets $583.9M $612.1M $554.0M
YoY Change 3.0% 4.83% -2.05%
LONG-TERM ASSETS
Property, Plant & Equipment $162.6M $217.2M $158.6M
YoY Change 1.04% 33.58% 5.62%
Goodwill $189.8M $196.3M
YoY Change 5.25%
Intangibles
YoY Change
Long-Term Investments $15.20M $13.90M $12.10M
YoY Change 17.83% -8.55% -1.63%
Other Assets $14.06M $31.40M $23.30M
YoY Change -50.15% 40.18% 102.63%
Total Long-Term Assets $481.5M $879.1M $516.8M
YoY Change -2.14% 82.54% 244.14%
TOTAL ASSETS
Total Short-Term Assets $583.9M $612.1M $554.0M
Total Long-Term Assets $481.5M $879.1M $516.8M
Total Assets $1.065B $1.491B $1.071B
YoY Change 0.61% 39.95% 4.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.66M $90.70M $50.79M
YoY Change 8.98% 75.44% 49.83%
Accrued Expenses $24.15M $81.70M $13.06M
YoY Change -28.99% 34.82% -69.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $87.00M $6.300M $88.50M
YoY Change 0.0% -92.76% -29.76%
Total Short-Term Liabilities $211.0M $187.5M $204.5M
YoY Change 11.02% -11.14% -2.03%
LONG-TERM LIABILITIES
Long-Term Debt $83.75M $447.9M $106.7M
YoY Change -18.69% 434.49% 13.71%
Other Long-Term Liabilities $17.76M $33.80M $15.81M
YoY Change -13.39% 44.44% -32.42%
Total Long-Term Liabilities $101.5M $481.7M $122.5M
YoY Change -17.81% 349.35% 4.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $211.0M $187.5M $204.5M
Total Long-Term Liabilities $101.5M $481.7M $122.5M
Total Liabilities $312.6M $676.4M $326.9M
YoY Change -3.47% 107.23% -3.16%
SHAREHOLDERS EQUITY
Retained Earnings $557.8M $523.3M
YoY Change
Common Stock $224.0K $226.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.77M $18.72M
YoY Change
Treasury Stock Shares $362.7K $199.3K
Shareholders Equity $739.1M $814.8M $727.5M
YoY Change
Total Liabilities & Shareholders Equity $1.065B $1.491B $1.071B
YoY Change 0.61% 39.95% 4.53%

Cashflow Statement

Concept 2016 Q1 2016 2014 Q4
OPERATING ACTIVITIES
Net Income $20.90M $104.5M $19.51M
YoY Change 4.53% 29.16% -17.53%
Depreciation, Depletion And Amortization $10.40M $53.14M $10.70M
YoY Change -0.17% 27.73% 22.99%
Cash From Operating Activities $52.20M $180.1M $49.30M
YoY Change 124.71% 8.64% 56.01%
INVESTING ACTIVITIES
Capital Expenditures -$9.000M $46.23M -$12.90M
YoY Change -173.3% -205.06% 32.99%
Acquisitions $471.1M
YoY Change
Other Investing Activities -$6.100M -$465.0M -$25.80M
YoY Change 464900.0% -1055.56%
Cash From Investing Activities -$15.20M -$511.2M -$38.70M
YoY Change 23.85% 1056.66% 452.86%
FINANCING ACTIVITIES
Cash Dividend Paid $27.87M
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $8.750M
YoY Change
Cash From Financing Activities -40.50M $284.2M -84.80M
YoY Change 379.57% -519.79% 685.19%
NET CHANGE
Cash From Operating Activities 52.20M $180.1M 49.30M
Cash From Investing Activities -15.20M -$511.2M -38.70M
Cash From Financing Activities -40.50M $284.2M -84.80M
Net Change In Cash -3.500M -$46.91M -74.20M
YoY Change -239.33% -187.04% -637.68%
FREE CASH FLOW
Cash From Operating Activities $52.20M $180.1M $49.30M
Capital Expenditures -$9.000M $46.23M -$12.90M
Free Cash Flow $61.20M $133.9M $62.20M
YoY Change 458.85% -36.17% 50.61%

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1891000
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2843000
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4054000
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33711000
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Fiscal Year</div>: The company&#x2019;s fiscal years ended on January 2, 2016, December 27, 2014 and December 28, 2013. Fiscal year 2015 contained 53 weeks while fiscal years 2014 and 2013 each contained 52 weeks. </div></div></div></div></div></div></div></div></div></div>
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us-gaap Gross Profit
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296232000
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293000
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106948000
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106948000
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CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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1907000
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
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1186000
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1.13
us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.26
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1.32
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24482000
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32228000
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35451000
CY2016 us-gaap Income Tax Expense Benefit
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24482000
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CY2014 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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CY2013 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
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46076000
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23300000
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26600000
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30400000
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2573000
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17281000
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2000000
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14377000
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13062000
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16683000
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6482000
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5883000
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2360000
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8032000
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4488000
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3577000
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2258000
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5486000
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4091000
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4903000
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2917000
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4091000
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4900000
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2900000
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2769000
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8900000
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100000
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800000
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800000
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82466000
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88733000
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85000000
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87000000
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1800000
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1900000
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7900000
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4600000
CY2013 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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5200000
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-46231000
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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12475000
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-20893000
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1761000
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106000
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1530000
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1530000
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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746000
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
0
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
0
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1398000
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793000
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1526000
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793000
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0
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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0
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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0
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15814000
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5417000
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6644000
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100000
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31252000
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14283000
CY2013 us-gaap Payments For Repurchase Of Common Stock
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42000
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107000
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809000
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24341000
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21175000
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18722000
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4558000
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56368000
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144382000
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3500000
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PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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44019000
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32281000
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34953000
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4331000
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8478000
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5653000
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5147000
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5653000
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5147000
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14061000
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176000
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9150000
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0
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0
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0
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CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
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8959000
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13904000
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Reclassifications:</div> Certain amounts presented in the 2014 financial statements have been reclassified to conform to the 2015 presentation - specifically a reclassification was made to the company&#x2019;s current deferred tax assets from short-term to long-term. This reclassification resulted from the company&#x2019;s early adoption of ASU 2015-17 &#x201c;Balance Sheet Classification of Deferred Taxes (ASC 740, income taxes)&#x201d; which requires all deferred taxes to be presented as long-term. The amount of current deferred tax assets that were reclassified to long-term deferred tax assets for the fiscal year 2014 was $17.5 million at December 27, 2014. This reclassification had no impact on net income, cash flows or shareholders&#x2019; equity.</div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
49000000
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
97500000
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
260500000
CY2016 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
CY2014 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
6770000
CY2013 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
2044000
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
102000
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
125000
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
21959000
CY2016 us-gaap Profit Loss
ProfitLoss
82466000
CY2014 us-gaap Profit Loss
ProfitLoss
99418000
CY2013 us-gaap Profit Loss
ProfitLoss
88784000
CY2016 us-gaap Profit Loss
ProfitLoss
82466000
us-gaap Profit Loss
ProfitLoss
22463000
CY2015Q3 us-gaap Profit Loss
ProfitLoss
11324000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
28684000
CY2015Q1 us-gaap Profit Loss
ProfitLoss
19995000
CY2014Q4 us-gaap Profit Loss
ProfitLoss
19511000
CY2014Q3 us-gaap Profit Loss
ProfitLoss
29940000
CY2014Q2 us-gaap Profit Loss
ProfitLoss
24578000
CY2014Q1 us-gaap Profit Loss
ProfitLoss
25389000
CY2016 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
44019000
CY2014 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
32281000
CY2013 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
34953000
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
162568000
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
158640000
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
164000
CY2014 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
130000
CY2013 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
289000
CY2016 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
55500000
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
135000000
CY2013 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
123500000
CY2016 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8750000
CY2014 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1250000
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30802000
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31122000
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24415000
CY2014Q4 us-gaap Restructuring Charges
RestructuringCharges
2200000
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
1100000
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
562717000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
523302000
CY2016 us-gaap Revenue Recognition Rebates
RevenueRecognitionRebates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Volume Rebates</div><div style="display: inline; font-style: italic;">:</div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> The company offers incentives to certain customers to achieve specific quarterly or annual sales targets. If customers achieve their sales targets, they are entitled to rebates. The company estimates the future cost of these rebates and recognizes this estimated cost as a reduction to revenue as products are sold.</div></div></div></div></div></div></div></div></div></div>
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
206859000
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
867864000
CY2016 us-gaap Revenue Recognition Sales Returns
RevenueRecognitionSalesReturns
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Returns </div><div style="display: inline; font-style: italic;">and</div><div style="display: inline; font-style: italic;"> Credits</div>: Some of the terms of the company&#x2019;s sales agreements and normal business conditions provide customers (distributors) the ability to receive price adjustments on products previously shipped and invoiced. This practice is common in the industry and is referred to as a &#x201c;ship and debit&#x201d; program. This program allows the distributor to debit the company for the difference between the distributors&#x2019; contracted price and a lower price for specific transactions. Under certain circumstances (usually in a competitive situation or large volume opportunity), a distributor will request authorization to reduce its price to its buyer. If the company approves such a reduction, the distributor is authorized to &#x201c;debit&#x201d; its account for the difference between the contracted price and the lower approved price. The company establishes reserves for this program based on historic activity and actual authorizations for the debit and recognizes these debits as a reduction of revenue. </div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
867864000
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
851995000
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
757853000
us-gaap Sales Revenue Net
SalesRevenueNet
220020000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
215510000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
222021000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
210313000
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
206620000
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
217608000
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
220908000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
78.91
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
89.32
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
153714000
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
146975000
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
132657000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
10266000
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
9069000
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
8609000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
8638000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
80.40
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
103002000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
94.10
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
188998000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
194461000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.45
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0125
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0167
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
600000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
199472
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
66.23
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
5000000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9600000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
15300000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
550
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
145140
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.99
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
26.25
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
400000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
300000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
100000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
88901000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
73.59
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0104
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0093
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.012
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.28
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.33
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.90
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12470000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
421862
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
470904
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
67.88
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
80.53
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
48.74
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
29.68
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
96.18
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y219D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y219D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y36D
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
8135000
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y219D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y292D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
8100000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7600000
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
6500000
CY2016Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
100000
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2016Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
650000
CY2016Q1 us-gaap Short Term Investments
ShortTermInvestments
4179000
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
4302000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
95548
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
19018000
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
14061000
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9150000
CY2016 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
7000000
CY2014 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
6700000
CY2013 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
6500000
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
350000
CY2014 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-14283000
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-31252000
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
744055000
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
727522000
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
744198000
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
727665000
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
587558000
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
686916000
CY2013 us-gaap Treasury Stock Retired Par Value Method Amount
TreasuryStockRetiredParValueMethodAmount
CY2016 us-gaap Treasury Stock Retired Par Value Method Amount
TreasuryStockRetiredParValueMethodAmount
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
362748
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
199266
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
32766000
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
18724000
CY2016 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
CY2014 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
CY2013 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
16000
CY2016Q1 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
367900000
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
102000
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
112000
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
112000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22719000
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22727000
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22537000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22719000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22565000
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Use of Estimates</div>: The process of preparing financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses and the accompanying notes. The company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in its evaluation, as considered necessary. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
154000
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
184000
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
222000
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22543000
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22315000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22565000

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