2021 Q4 Form 10-K Financial Statement

#000092014822000015 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $4.056B $16.12B $4.490B
YoY Change -9.66% 15.33% 52.02%
Cost Of Revenue $2.681B $10.50B $2.585B
YoY Change 3.72% 16.3% 21.2%
Gross Profit $1.375B $5.624B $1.905B
YoY Change -27.82% 13.56% 132.11%
Gross Profit Margin 33.9% 34.89% 42.43%
Selling, General & Admin $525.8M $1.952B $498.2M
YoY Change 5.54% 12.88% 30.93%
% of Gross Profit 38.24% 34.71% 26.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $188.0M $745.1M $183.9M
YoY Change 2.23% 19.27% 18.04%
% of Gross Profit 13.67% 13.25% 9.65%
Operating Expenses $618.7M $1.952B $589.0M
YoY Change 5.04% 12.88% 32.45%
Operating Profit $756.3M $3.260B $1.316B
YoY Change -42.53% 33.29% 291.17%
Interest Expense -$43.20M $212.1M -$49.20M
YoY Change -12.2% 2.27% -1.01%
% of Operating Profit -5.71% 6.51% -3.74%
Other Income/Expense, Net -$1.300M $42.50M -$1.300M
YoY Change 0.0% -118.78% -72.92%
Pretax Income $686.0M $2.581B $1.243B
YoY Change -44.8% 39.76% 324.27%
Income Tax $132.4M $747.1M $304.1M
% Of Pretax Income 19.3% 28.95% 24.47%
Net Earnings $553.0M $2.377B $938.3M
YoY Change -41.06% 52.77% 313.17%
Net Earnings / Revenue 13.63% 14.75% 20.9%
Basic Earnings Per Share $24.60
Diluted Earnings Per Share $5.742M $24.39 $9.545M
COMMON SHARES
Basic Shares Outstanding 95.70M shares 96.70M shares 97.40M shares
Diluted Shares Outstanding 97.50M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.473B $1.473B $1.321B
YoY Change 11.48% 11.48% 290.83%
Cash & Equivalents $1.473B $1.473B $1.321B
Short-Term Investments
Other Short-Term Assets $478.1M $478.1M $365.0M
YoY Change 30.99% 30.99% -2.41%
Inventory $401.4M $401.4M $423.2M
Prepaid Expenses $478.1M $364.8M
Receivables $2.262B $2.978B $2.480B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.331B $5.331B $5.125B
YoY Change 4.0% 4.01% 71.92%
LONG-TERM ASSETS
Property, Plant & Equipment $2.815B $2.897B $2.730B
YoY Change 3.14% 3.14% 3.53%
Goodwill $7.959B $7.752B
YoY Change 2.68% -1.44%
Intangibles $3.736B $3.961B
YoY Change -5.7% -1.82%
Long-Term Investments $60.90M $60.90M $74.00M
YoY Change -17.7% -17.7% -12.94%
Other Assets $462.6M $402.5M $410.0M
YoY Change 12.83% 14.67% -5.83%
Total Long-Term Assets $15.05B $15.05B $14.95B
YoY Change 0.73% 0.72% -0.79%
TOTAL ASSETS
Total Short-Term Assets $5.331B $5.331B $5.125B
Total Long-Term Assets $15.05B $15.05B $14.95B
Total Assets $20.39B $20.39B $20.07B
YoY Change 1.56% 1.56% 11.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $621.3M $621.3M $638.9M
YoY Change -2.75% -2.77% 1.04%
Accrued Expenses $1.404B $1.352B $1.358B
YoY Change 3.42% 15.02% 44.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $12.00M $12.00M $383.0M
YoY Change -96.87% -96.87% -9.67%
Total Short-Term Liabilities $2.783B $2.783B $3.079B
YoY Change -9.6% -9.62% 15.92%
LONG-TERM LIABILITIES
Long-Term Debt $5.417B $5.501B $5.419B
YoY Change -0.05% -0.03% -6.4%
Other Long-Term Liabilities $402.0M $1.045B $526.4M
YoY Change -23.63% -13.25% 37.37%
Total Long-Term Liabilities $5.819B $6.546B $5.945B
YoY Change -2.13% -2.41% -3.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.783B $2.783B $3.079B
Total Long-Term Liabilities $5.819B $6.546B $5.945B
Total Liabilities $10.09B $10.11B $10.61B
YoY Change -4.93% -5.6% 1.48%
SHAREHOLDERS EQUITY
Retained Earnings $10.46B $9.479B
YoY Change 10.31% 19.94%
Common Stock $8.500M $119.3M
YoY Change -92.88% 233.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $10.27B $10.27B $9.360B
YoY Change
Total Liabilities & Shareholders Equity $20.39B $20.39B $20.07B
YoY Change 1.56% 1.56% 11.22%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $553.0M $2.377B $938.3M
YoY Change -41.06% 52.77% 313.17%
Depreciation, Depletion And Amortization $188.0M $745.1M $183.9M
YoY Change 2.23% 19.27% 18.04%
Cash From Operating Activities $697.5M $3.110B $774.6M
YoY Change -9.95% 45.63% 35.94%
INVESTING ACTIVITIES
Capital Expenditures -$150.0M $460.4M -$99.40M
YoY Change 50.91% 20.62% -22.46%
Acquisitions $496.9M
YoY Change 85.69%
Other Investing Activities -$104.5M -$424.2M -$28.60M
YoY Change 265.38% 62.22% 19.67%
Cash From Investing Activities -$254.5M -$884.6M -$128.0M
YoY Change 98.83% 37.53% -15.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000B $1.669B
YoY Change 1568.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.009B -$2.066B -1.000M
YoY Change 100760.0% 299.27% -99.78%
NET CHANGE
Cash From Operating Activities 697.5M $3.110B 774.6M
Cash From Investing Activities -254.5M -$884.6M -128.0M
Cash From Financing Activities -1.009B -$2.066B -1.000M
Net Change In Cash -565.6M $151.9M 645.6M
YoY Change -187.61% -84.55% -2136.59%
FREE CASH FLOW
Cash From Operating Activities $697.5M $3.110B $774.6M
Capital Expenditures -$150.0M $460.4M -$99.40M
Free Cash Flow $847.5M $2.649B $874.0M
YoY Change -3.03% 51.07% 25.21%

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<div style="margin-bottom:3pt;margin-top:7pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:7pt;margin-top:3pt;text-align:justify;text-indent:15.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Significant estimates include implicit price concessions, revenue estimates, the allowances for doubtful accounts, deferred tax assets, fair values of acquired assets and assumed liabilities in business combinations, fair value of goodwill and indefinite-lived intangible assets, amortization lives for acquired intangible assets, and accruals for self-insurance reserves, litigation reserves and pensions. Actual results could differ from those estimates.</span></div><div style="margin-bottom:7pt;margin-top:3pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The extent to which the COVID-19 pandemic has and will continue to impact the Company’s business and financial results depend on numerous evolving factors including, but not limited to: the magnitude and duration of the COVID-19 pandemic, the impact to worldwide macroeconomic conditions including interest rates, employment rates and health insurance coverage, the speed of the anticipated recovery, and governmental and business reactions to the pandemic. The Company assessed certain </span></div>accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of December 31, 2021, and through the date of this Annual Report. The accounting matters assessed included, but were not limited to, the Company’s implicit price concessions and credit losses, equity investments, and the carrying value of goodwill and other long-lived assets. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could impact the Company’s consolidated financial statements in future reporting periods.
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24.39
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1556100000 USD
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8.35
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InventoryValuationReserves
40100000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
20200000 USD
CY2021 lh Propertyplantandequipmentusefullifesoftwareminimum
Propertyplantandequipmentusefullifesoftwareminimum
3 Y
CY2021 lh Propertyplantandequipmentusefullifesoftwaremaximum
Propertyplantandequipmentusefullifesoftwaremaximum
15 Y
CY2021 lh Property Plant And Equipment Useful Life Software Average
PropertyPlantAndEquipmentUsefulLifeSoftwareAverage
5 Y
CY2021Q4 lh Income Tax Benefit Minimum Certainty Percentage
IncomeTaxBenefitMinimumCertaintyPercentage
0.50
CY2021Q4 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-76900000 USD
CY2021 lh Percentof Revenue Contributed
PercentofRevenueContributed
1
CY2019 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
21200000 USD
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
14200000 USD
CY2020 lh Percentof Revenue Contributed
PercentofRevenueContributed
1
CY2019 lh Percentof Revenue Contributed
PercentofRevenueContributed
1
CY2021 lh Percent Of Domestic Revenue
PercentOfDomesticRevenue
0.779
CY2020 lh Percent Of Domestic Revenue
PercentOfDomesticRevenue
0.801
CY2019 lh Percent Of Domestic Revenue
PercentOfDomesticRevenue
0.777
CY2021 lh Sales Commission Amortization Period Minimum
SalesCommissionAmortizationPeriodMinimum
P1Y
CY2021 lh Sales Commission Amortization Period Maximum
SalesCommissionAmortizationPeriodMaximum
P5Y
CY2021Q4 us-gaap Accrued Sales Commission Current And Noncurrent
AccruedSalesCommissionCurrentAndNoncurrent
36200000 USD
CY2020Q4 us-gaap Accrued Sales Commission Current And Noncurrent
AccruedSalesCommissionCurrentAndNoncurrent
32600000 USD
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
14400000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
12600000 USD
CY2021Q4 us-gaap Amount Of Deferred Costs Related To Long Term Contracts
AmountOfDeferredCostsRelatedToLongTermContracts
50600000 USD
CY2020Q4 us-gaap Amount Of Deferred Costs Related To Long Term Contracts
AmountOfDeferredCostsRelatedToLongTermContracts
45200000 USD
CY2021 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
27500000 USD
CY2020 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
23200000 USD
CY2019 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
8700000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
10100000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
21500000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
22100000 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2261500000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2479800000 USD
CY2021Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
730800000 USD
CY2020Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
548100000 USD
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
14000000.0 USD
CY2020Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
11300000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
716800000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
536800000 USD
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
558500000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
506500000 USD
CY2021 lh Long Term Contracts Duration Maximum
LongTermContractsDurationMaximum
P8Y
CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
69800000 USD
CY2021 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
319400000 USD
CY2020 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
262600000 USD
CY2019 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
250200000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19000000.0 USD
CY2019Q4 lh Unbilled Services Allowancefor Credit Loss
UnbilledServicesAllowanceforCreditLoss
2300000 USD
CY2019Q4 lh Note Receivable Allowancefor Credit Loss
NoteReceivableAllowanceforCreditLoss
0 USD
CY2019Q4 lh Allowancefor Credit Loss
AllowanceforCreditLoss
21300000 USD
CY2020 lh Current Expected Credit Losses Opening Balance Impact On Retained Earnings
CurrentExpectedCreditLossesOpeningBalanceImpactOnRetainedEarnings
7000000.0 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7000000.0 USD
CY2020 lh Unbilled Services Credit Loss Expense Reversal
UnbilledServicesCreditLossExpenseReversal
9000000.0 USD
CY2020 lh Note Receivable Credit Loss Expense Reversal
NoteReceivableCreditLossExpenseReversal
700000 USD
CY2020 lh Credit Loss Expense Reversal
CreditLossExpenseReversal
16700000 USD
CY2020 lh Allowancefor Credit Loss Write Off
AllowanceforCreditLossWriteOff
5900000 USD
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
496900000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
22100000 USD
CY2020Q4 lh Unbilled Services Allowancefor Credit Loss
UnbilledServicesAllowanceforCreditLoss
11300000 USD
CY2020Q4 lh Note Receivable Allowancefor Credit Loss
NoteReceivableAllowanceforCreditLoss
5700000 USD
CY2020Q4 lh Allowancefor Credit Loss
AllowanceforCreditLoss
39100000 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3800000 USD
CY2021 lh Unbilled Services Credit Loss Expense Reversal
UnbilledServicesCreditLossExpenseReversal
2700000 USD
CY2021 lh Note Receivable Credit Loss Expense Reversal
NoteReceivableCreditLossExpenseReversal
5000000.0 USD
CY2021 lh Credit Loss Expense Reversal
CreditLossExpenseReversal
1500000 USD
CY2021 lh Allowancefor Credit Loss Write Off
AllowanceforCreditLossWriteOff
4500000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
21500000 USD
CY2021Q4 lh Unbilled Services Allowancefor Credit Loss
UnbilledServicesAllowanceforCreditLoss
13900000 USD
CY2021Q4 lh Note Receivable Allowancefor Credit Loss
NoteReceivableAllowanceforCreditLoss
700000 USD
CY2021Q4 lh Allowancefor Credit Loss
AllowanceforCreditLoss
36100000 USD
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5757500000 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5128400000 USD
CY2021Q4 lh Percentofremainingperformanceobligationsrecognizedasrevenueinnextyear
Percentofremainingperformanceobligationsrecognizedasrevenueinnextyear
0.400
CY2021 lh Long Term Contracts Duration Minimum
LongTermContractsDurationMinimum
P1Y
CY2020 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
80900000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
10800000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
3200000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
1600000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
3000000.0 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
56600000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
198500000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
572100000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
2500000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
3900000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
6600000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
75200000 USD
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
496900000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
267600000 USD
CY2020 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
121300000 USD
CY2019Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
110000000.0 USD
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-12200000 USD
CY2019Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
110000000.0 USD
CY2019Q2 lh Totalacquisitionconsiderationcashstocknotesetc.
Totalacquisitionconsiderationcashstocknotesetc.
711000000.0 USD
CY2021 lh Net Restructuring Charges
NetRestructuringCharges
43100000 USD
CY2021 us-gaap Severance Costs1
SeveranceCosts1
16300000 USD
CY2021 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
28000000.0 USD
CY2021 lh Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment
EmployeeSeveranceBenefitsRelatedRestructuringReserveAccrualAdjustment
400000 USD
CY2021 lh Facility Related Restructuring Reserve Accrual Adjustment
FacilityRelatedRestructuringReserveAccrualAdjustment
800000 USD
CY2020 lh Net Restructuring Charges
NetRestructuringCharges
40600000 USD
CY2021 us-gaap Restructuring Charges
RestructuringCharges
44300000 USD
CY2020 us-gaap Severance Costs1
SeveranceCosts1
14100000 USD
CY2020 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
17400000 USD
CY2020 us-gaap Business Exit Costs1
BusinessExitCosts1
18900000 USD
CY2020 lh Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment
EmployeeSeveranceBenefitsRelatedRestructuringReserveAccrualAdjustment
600000 USD
CY2020 lh Facility Related Restructuring Reserve Accrual Adjustment
FacilityRelatedRestructuringReserveAccrualAdjustment
9200000 USD
CY2019 lh Net Restructuring Charges
NetRestructuringCharges
54600000 USD
CY2019 us-gaap Severance Costs1
SeveranceCosts1
32900000 USD
CY2019 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
24900000 USD
CY2019 lh Employee Severance Benefits Related Restructuring Reserve Accrual Adjustment
EmployeeSeveranceBenefitsRelatedRestructuringReserveAccrualAdjustment
1700000 USD
CY2019 lh Facility Related Restructuring Reserve Accrual Adjustment
FacilityRelatedRestructuringReserveAccrualAdjustment
1500000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
13400000 USD
CY2020 us-gaap Restructuring Charges
RestructuringCharges
33000000.0 USD
CY2020 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
17400000 USD
CY2020 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-9800000 USD
CY2020 us-gaap Payments For Restructuring
PaymentsForRestructuring
46200000 USD
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
7800000 USD
CY2021 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-1200000 USD
CY2021 us-gaap Payments For Restructuring
PaymentsForRestructuring
42500000 USD
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
8400000 USD
CY2021Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
6800000 USD
CY2021Q4 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
1600000 USD
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
8400000 USD
CY2021 lh Numberofyearsrestructuringliabilitiesexpectedtobepaidoutover
Numberofyearsrestructuringliabilitiesexpectedtobepaidoutover
P4Y9M18D
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12Y
CY2021Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P15Y
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
220700000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
215400000 USD
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9400000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
11200000 USD
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5400000 USD
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4700000 USD
CY2021 us-gaap Lease Cost
LeaseCost
14800000 USD
CY2020 us-gaap Lease Cost
LeaseCost
15900000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
219600000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
213800000 USD
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5400000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4700000 USD
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
13100000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15200000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
164600000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
185900000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
746300000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
789800000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
187000000.0 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
192000000.0 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
642500000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
677600000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
829500000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
869600000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
81700000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
79700000 USD
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
10500000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
6700000 USD
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
84600000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
84400000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
95100000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
91100000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M6D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P15Y6M
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P15Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.033
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.056
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.051
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
204000000.0 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
12300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
159400000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
12300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
110700000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
10900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
85300000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
8900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
70400000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
8100000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
325500000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
93800000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
955300000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
146300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
125800000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
51200000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
187000000.0 USD
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
10500000 USD
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
642500000 USD
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
84600000 USD
CY2021 us-gaap Variable Lease Payment
VariableLeasePayment
28400000 USD
CY2020 us-gaap Variable Lease Payment
VariableLeasePayment
26700000 USD
CY2019 us-gaap Variable Lease Payment
VariableLeasePayment
20800000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5228600000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4932700000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2413200000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2203100000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2815400000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2729600000 USD
CY2021 lh Software Depreciation
SoftwareDepreciation
82400000 USD
CY2020 lh Software Depreciation
SoftwareDepreciation
84700000 USD
CY2019 lh Software Depreciation
SoftwareDepreciation
90400000 USD
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
5423600000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
7751500000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
7865000000 USD
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
298400000 USD
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
166200000 USD
CY2021 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
0 USD
CY2020 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
0 USD
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
422400000 USD
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-91000000.0 USD
CY2020 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
142700000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
7958900000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
7751500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1688100000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3735500000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6090100000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2129000000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3961100000 USD
CY2020 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
462100000 USD
CY2021 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
198500000 USD
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y3M18D
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
369600000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
275400000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
243200000 USD
CY2020 lh Adjustmentstointangiblesthroughamortizationexpense
Adjustmentstointangiblesthroughamortizationexpense
400000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
237900000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
234600000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
230000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
217800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
208500000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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500000000.0 USD
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CY2021Q4 lh Seniornotesdue2024
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CY2020Q4 lh Seniornotesdue2024
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CY2020Q4 lh Seniornotesdue2027
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900000000.0 USD
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900000000.0 USD
CY2021Q4 lh A2.30seniornotesdue2024
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1000000000 USD
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500000000.0 USD
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CY2020 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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CY2021 lh Effective Income Tax Rate Reconciliation Gilti Impact Percent
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CY2020Q4 lh Deferred Tax Asset Right Of Use Asset
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22600000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2020Q4 us-gaap Deferred Tax Assets Other
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CY2020Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Assets Net
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CY2020Q4 us-gaap Deferred Tax Assets Net
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CY2020Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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203900000 USD
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47600000 USD
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46300000 USD
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CY2021Q4 us-gaap Deferred Tax Liabilities
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CY2020Q4 us-gaap Deferred Tax Liabilities
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99100000 USD
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6500000 USD
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8300000 USD
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8900000 shares
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4300000 shares
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4400000 USD
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CY2021 lh Reversalof Accrued Income Tax Penalties And Interest
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3000000.0 USD
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5800000 USD
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31700000 USD
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17300000 USD
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8200000 USD
CY2019 lh Unrecognized Tax Benefits Increasein Reserve From Acquisition
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8400000 USD
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7100000 USD
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300000 USD
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800000 USD
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20400000 USD
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8100000 USD
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4200000 USD
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48800000 USD
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31700000 USD
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18500000 USD
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24500000 USD
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62.18
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40.06
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33.70
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CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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200000 shares
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300000 shares
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200000 shares
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10300000 USD
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9900000 USD
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300000 USD
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300000 USD
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1600000 USD
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500000 USD
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400000 USD
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21900000 USD
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16200000 USD
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90600000 USD
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9100000 USD
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6121800000 USD
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1600000 USD
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1600000 USD
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1600000 USD
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216600000 USD
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248900000 USD
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500000000.0 USD
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216800000 USD
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0 USD
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0 USD
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8400000 USD
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0 USD
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48700000 USD
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11800000 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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1200000 USD
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2700000 USD
CY2021Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
0 USD
CY2020Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
0 USD
CY2019Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
110000000.0 USD
CY2021 us-gaap Revenues
Revenues
16120900000 USD
CY2020 us-gaap Revenues
Revenues
13978500000 USD
CY2019 us-gaap Revenues
Revenues
11554800000 USD
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
3259500000 USD
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
2445400000 USD
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
1330200000 USD
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
745100000 USD
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
624700000 USD
CY2019 lh Depreciationand Amortizationof Intangible Assets
DepreciationandAmortizationofIntangibleAssets
564700000 USD
CY2021 us-gaap Revenues
Revenues
16120900000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2815400000 USD

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