2014 Q2 Form 10-K Financial Statement

#000119312515290023 Filed on August 13, 2015

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2 2013
Revenue $1.249B $986.2M $3.599B
YoY Change 26.63% 32.95% 35.03%
Cost Of Revenue $691.8M $572.3M $2.196B
YoY Change 20.88% 31.96% 38.88%
Gross Profit $557.0M $413.9M $1.403B
YoY Change 34.57% 34.34% 29.43%
Gross Profit Margin 44.6% 41.97% 38.99%
Selling, General & Admin $155.7M $148.2M $601.3M
YoY Change 5.06% 5.11% 49.66%
% of Gross Profit 27.95% 35.81% 42.86%
Research & Development $185.4M $180.2M $683.7M
YoY Change 2.89% 44.74% 53.79%
% of Gross Profit 33.29% 43.54% 48.73%
Depreciation & Amortization $71.20M $76.00M $126.5M
YoY Change -6.32% 119.65% 70.95%
% of Gross Profit 12.78% 18.36% 9.02%
Operating Expenses $341.1M $327.4M $1.285B
YoY Change 4.18% 23.31% 51.83%
Operating Profit $215.9M $86.50M $118.1M
YoY Change 149.6% 103.05% -50.33%
Interest Expense -$9.900M -$14.40M $60.41M
YoY Change -31.25% 144.07% 55.04%
% of Operating Profit -4.59% -16.65% 51.16%
Other Income/Expense, Net $400.0K $2.100M -$51.41M
YoY Change -80.95% -223.53% 54.32%
Pretax Income $289.5M $74.20M -$46.39M
YoY Change 290.16% 225.44% 567.51%
Income Tax $56.10M -$11.50M -$47.22M
% Of Pretax Income 19.38% -15.5%
Net Earnings $233.4M $85.70M $113.9M
YoY Change 172.35% 373.48% -32.51%
Net Earnings / Revenue 18.69% 8.69% 3.16%
Basic Earnings Per Share $0.67
Diluted Earnings Per Share $1.262M $501.8K $0.66
COMMON SHARES
Basic Shares Outstanding 162.1M shares 162.7M shares 168.9M shares
Diluted Shares Outstanding 173.4M shares

Balance Sheet

Concept 2014 Q2 2013 Q2 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.066B $2.497B $2.497B
YoY Change 22.79% -12.78% -12.78%
Cash & Equivalents $1.453B $1.162B $1.162B
Short-Term Investments $1.613B $1.335B $1.335B
Other Short-Term Assets $177.0M $135.0M $135.0M
YoY Change 31.11% -12.34% -12.34%
Inventory $740.5M $559.3M $559.0M
Prepaid Expenses
Receivables $800.6M $602.6M $603.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.784B $3.794B $3.794B
YoY Change 26.09% -14.07% -14.07%
LONG-TERM ASSETS
Property, Plant & Equipment $543.5M $603.9M $604.0M
YoY Change -10.0% 3.3% 3.25%
Goodwill $1.466B $1.452B
YoY Change 0.97% 0.41%
Intangibles $894.1M $1.074B
YoY Change -16.78% -13.39%
Long-Term Investments $117.0M $98.00M $98.00M
YoY Change 19.39%
Other Assets $159.4M $159.5M $228.0M
YoY Change -0.09% 5.02% -28.3%
Total Long-Term Assets $3.210B $3.456B $3.456B
YoY Change -7.14% -3.71% -3.73%
TOTAL ASSETS
Total Short-Term Assets $4.784B $3.794B $3.794B
Total Long-Term Assets $3.210B $3.456B $3.456B
Total Assets $7.993B $7.250B $7.250B
YoY Change 10.25% -9.42% -9.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $223.5M $200.3M $200.0M
YoY Change 11.62% -22.62% -22.78%
Accrued Expenses $604.3M $464.5M $307.0M
YoY Change 30.09% -5.62% -9.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $516.6M $513.0M $515.0M
YoY Change 0.7% 0.67% 0.78%
Total Short-Term Liabilities $1.582B $1.404B $1.404B
YoY Change 12.64% -1.57% -1.61%
LONG-TERM LIABILITIES
Long-Term Debt $806.9M $777.4M $976.0M
YoY Change 3.79% 3.75% 2.52%
Other Long-Term Liabilities $122.7M $134.3M $381.0M
YoY Change -8.67% -38.83% -22.87%
Total Long-Term Liabilities $929.6M $911.7M $1.357B
YoY Change 1.96% -5.9% -6.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.582B $1.404B $1.404B
Total Long-Term Liabilities $929.6M $911.7M $1.357B
Total Liabilities $2.780B $2.575B $2.761B
YoY Change 7.99% -4.03% -3.9%
SHAREHOLDERS EQUITY
Retained Earnings $3.576B $2.973B
YoY Change 20.29% 3.98%
Common Stock $162.0K $163.0K
YoY Change -0.61% -12.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.757B $3.540B
YoY Change 6.14% 34.24%
Treasury Stock Shares 92.87M shares 89.21M shares
Shareholders Equity $5.030B $4.489B $4.489B
YoY Change
Total Liabilities & Shareholders Equity $7.993B $7.250B $7.250B
YoY Change 10.25% -9.42% -9.43%

Cashflow Statement

Concept 2014 Q2 2013 Q2 2013
OPERATING ACTIVITIES
Net Income $233.4M $85.70M $113.9M
YoY Change 172.35% 373.48% -32.51%
Depreciation, Depletion And Amortization $71.20M $76.00M $126.5M
YoY Change -6.32% 119.65% 70.95%
Cash From Operating Activities $245.8M $175.0M $719.9M
YoY Change 40.46% 80.97% 44.27%
INVESTING ACTIVITIES
Capital Expenditures -$41.80M -$43.10M -$160.8M
YoY Change -3.02% 16.8% 49.86%
Acquisitions $9.916M
YoY Change -102.37%
Other Investing Activities -$32.70M -$17.50M -$77.80M
YoY Change 86.86% -102.34% -120.64%
Cash From Investing Activities -$74.50M -$60.70M -$238.6M
YoY Change 22.73% -108.53% -188.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $916.3M
YoY Change 18.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.30M 26.90M -887.8M
YoY Change -142.01% -104.12% 28.16%
NET CHANGE
Cash From Operating Activities 245.8M 175.0M 719.9M
Cash From Investing Activities -74.50M -60.70M -238.6M
Cash From Financing Activities -11.30M 26.90M -887.8M
Net Change In Cash 160.0M 141.2M -406.5M
YoY Change 13.31% -8.96% -634.81%
FREE CASH FLOW
Cash From Operating Activities $245.8M $175.0M $719.9M
Capital Expenditures -$41.80M -$43.10M -$160.8M
Free Cash Flow $287.6M $218.1M $880.7M
YoY Change 31.87% 63.25% 45.26%

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4847000
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1359650000
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9077000
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322070000
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300203000
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17593000
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21086000
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37961000
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859000000
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1944674000
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15167000
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1651592000
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2574947000
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13942000
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1705093000
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3975762000
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49700000
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61100000
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1651673000
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131000
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1501539000
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6034000
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81899000
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9100000
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1501539000
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170969000
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33360000
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152918000
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156074000
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1940529000
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318000
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478000
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91380000
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157435000
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38505000
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1093582000
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1250961000
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131079000
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185763000
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6352000
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1666588000
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3970792000
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114846000
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138900000
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4261000
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4283009000
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379496000
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-3100000
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378590000
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7 Location
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170969000
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2574947000
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6352000
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534174000
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488480000
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8838403605
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376003000
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4331478 shares
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25.14
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41.01
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5131781000
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26.87
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39.32
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333114000
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58078000
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257700000
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4488872000
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603910000
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44919000
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1162473000
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36870000
CY2015Q1 us-gaap Debt Instrument Redemption Description
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The Company may redeem the Senior Notes at par, plus accrued and unpaid interest at any time on or after February 15, 2020 for the 2020 Notes and on or after December 24, 2024 for the 2025 Notes. In addition, upon the occurrence of certain events, as described in the indenture, the Company will be required to make an offer to repurchase the Senior Notes at a price equal to 101% of the principal amount of the Senior Notes, plus accrued and unpaid interest.
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1.00 pure
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6898000 shares
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166455 shares
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41.16
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0.18
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281476 shares
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78000 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2473 shares
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632327000
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1658000
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30227000
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34791000
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723363000
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103700000
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87922000
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677669000
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-1615000
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1572000
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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51.76
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164741000 shares
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53.21
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717049000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1736453 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2811602 shares
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30.21
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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24.75
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
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1403019 shares
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3.84
CY2014 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
40.39
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174503000 shares
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3.62
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0.04
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0.35 pure
CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2864000 shares
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6065000
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1529000
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645287000
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190058000
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18157000
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-2838000
CY2014 us-gaap Sales Revenue Net
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4607309000
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201549000
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12507000
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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33003000
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-28085000
CY2014 us-gaap Investment Income Interest
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12540000
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-2888000
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1500000
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3665000
CY2014 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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5973000
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8004000
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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31993000
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
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83090000
CY2014 us-gaap Interest Expense
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61692000
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0
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2000000
CY2014 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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42926000
CY2014 us-gaap Payments To Acquire Productive Assets
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145503000
CY2014 us-gaap Interest Paid
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26489000
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-493000
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7400000
CY2014 us-gaap Liabilities Assumed1
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3392000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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78076000
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6225000
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202000
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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11923000
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632289000
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-12669000
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16937000
CY2014 us-gaap Gross Profit
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2007481000
CY2014 us-gaap Income Tax Reconciliation Tax Credits
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15650000
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1407000
CY2014 us-gaap Payments To Acquire Available For Sale Securities
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1312244000
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38000
CY2014 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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9069000
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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4192000
CY2014 us-gaap Payments For Repurchase Of Common Stock
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244859000
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OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
1895000
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StandardProductWarrantyAccrualPayments
80280000
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ProceedsFromIssuanceOfCommonStock
34791000
CY2014 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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1028278000
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1104000
CY2014 us-gaap Proceeds From Sale Of Treasury Stock
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42926000
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42454000
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
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156397000
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4182000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
41379000
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AmortizationOfFinancingCostsAndDiscounts
35482000
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IncomeTaxReconciliationStateAndLocalIncomeTaxes
1884000
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DeferredFederalIncomeTaxExpenseBenefit
10692000
CY2014 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
4000000
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
16048000
CY2014 us-gaap Asset Impairment Charges
AssetImpairmentCharges
11632000
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7537000
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
290204000
CY2014 us-gaap Increase Decrease In Deferred Revenue
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10886000
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12000000
CY2014 us-gaap Current State And Local Tax Expense Benefit
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3192000
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292254000
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1329812000
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-2976000
CY2014 us-gaap Depreciation
Depreciation
129100000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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163200000
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2323000
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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253177000
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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-735000
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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2203000
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29500000
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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10892000
CY2014 us-gaap Cost Of Goods And Services Sold
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2599828000
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-242000
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IncreaseDecreaseInAccountsPayableTrade
18704000
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-1707000
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CurrentFederalTaxExpenseBenefit
31762000
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-164130000
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-869000
CY2014 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
46297000
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
6065000
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
10200000
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
103700000
CY2014 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
7600000
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
613341000
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
550000
CY2014 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-5667000
CY2014 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
29240000
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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23167000
CY2014 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-1065000
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-265214000
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
253185000
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
716471000
CY2014 us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
MarketableSecuritiesRealizedGainLossOtherThanTemporaryImpairmentsAmount
0
CY2014 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
78608000
CY2014 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
49273000
CY2014 lrcx Deferred Income Tax Expense Benefit Share Based Compensation
DeferredIncomeTaxExpenseBenefitShareBasedCompensation
5973000
CY2014 lrcx Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
-10000000
CY2014 lrcx Gain Or Loss On Assets Related To Deferred Compensation Plan
GainOrLossOnAssetsRelatedToDeferredCompensationPlan
9559000
CY2014 lrcx Other Non Operating Income Expense Other Net
OtherNonOperatingIncomeExpenseOtherNet
668000
CY2014 lrcx Reclassifications Of Temporary Equity To Permanent Equity Convertible Notes
ReclassificationsOfTemporaryEquityToPermanentEquityConvertibleNotes
3571000
CY2015 dei Document Type
DocumentType
10-K
CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
13530000 shares
CY2015 dei Trading Symbol
TradingSymbol
LRCX
CY2015 us-gaap Reclassifications
Reclassifications
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 15pt"> <font color="#2A517F"><b>Note 4: Reclassifications</b></font></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 4pt"> Certain amounts in fiscal years 2014 and 2013 financial statements have been reclassified to conform to the fiscal year 2015 presentation.</p> </div>
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
76659 shares
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0000707549
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
50.16
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-06-28
CY2015 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.84
CY2015 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
715000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
174879 shares
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
330000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8155 shares
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-28
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
80.60
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
159629000 shares
CY2015 us-gaap Fiscal Period
FiscalPeriod
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 10pt"> <i>Fiscal Year:</i> The Company follows a 52/53-week fiscal reporting calendar, and its fiscal year ends on the last Sunday of June each year. The Company&#x2019;s most recent fiscal years ended on June&#xA0;28, 2015, June&#xA0;29, 2014, and June&#xA0;30, 2013 and included 52&#xA0;weeks, 52 weeks, and 53 weeks, respectively.</p> </div>
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2015 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06 pure
CY2015 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.75 pure
CY2015 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
9.44
CY2015 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
79.74
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
785503000
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2311439 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1804937 shares
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
29.32
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
31.05
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
564558 shares
CY2015 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 10pt"> <i>Guarantees:</i> The Company has certain operating leases that contain provisions whereby the properties subject to the operating leases may be remarketed at lease expiration. The Company has guaranteed to the lessor an amount approximating the lessor&#x2019;s investment in the property. Also, the Company&#x2019;s guarantees generally include certain indemnifications to its lessors under operating lease agreements for environmental matters, potential overdraft protection obligations to financial institutions related to one of the Company&#x2019;s subsidiaries, indemnifications to the Company&#x2019;s customers for certain infringement of third-party intellectual property rights by its products and services, and the Company&#x2019;s warranty obligations under sales of its products.</p> </div>
CY2015 dei Entity Registrant Name
EntityRegistrantName
LAM RESEARCH CORP
CY2015 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.11
CY2015 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
761883 shares
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y5M1D
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"> <font color="#2A517F"><b>Note 1: Company and Industry Information</b></font></p> <p style="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"> The Company designs, manufactures, markets, refurbishes and services semiconductor processing equipment used in the fabrication of integrated circuits. Semiconductor wafers are subjected to a complex series of process and preparation steps that result in the simultaneous creation of many individual integrated circuits. The Company leverages its expertise in the areas of deposition, etch, and single-wafer clean to develop processing solutions that are designed to benefit its customers through lower defect rates, enhanced yields, faster processing time, and/or reduced cost.</p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"> The Company sells its products and services primarily to companies involved in the production of semiconductors in United States, Europe, Taiwan, Korea, Japan, China, and Southeast Asia.</p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"> The semiconductor industry is cyclical in nature and has historically experienced periodic downturns and upturns. Today&#x2019;s leading indicators of changes in customer investment patterns, such as electronics demand, memory pricing, and foundry utilization rates, may not be any more reliable than in prior years. Demand for the Company&#x2019;s equipment can vary significantly from period to period as a result of various factors, including, but not limited to, economic conditions, supply, demand, and prices for semiconductors, customer capacity requirements, and the Company&#x2019;s ability to develop and market competitive products. For these and other reasons, the Company&#x2019;s results of operations for fiscal years 2015, 2014, and 2013 may not necessarily be indicative of future operating results.</p> </div>
CY2015 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
41.17
CY2015 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
11400000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
177067000 shares
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.70
CY2015 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.03
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3193000 shares
CY2015 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
119119000
CY2015 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
2500000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
788039000
CY2015 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
51.76
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
11398000
CY2015 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2331000
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
626436000
CY2015 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1515000
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1137000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
17523000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
740850000
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
135354000
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-47189000
CY2015 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-21123000
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
92000
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-5318000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
668122000
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
207462000
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
114512000
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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1109000
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
5259312000
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
294155000
CY2015 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
4296000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
31810000
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-356000
CY2015 us-gaap Investment Income Interest
InvestmentIncomeInterest
19268000
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2793000
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
116059000
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5389000
CY2015 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
3086808000
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-29141000
CY2015 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-290000
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-22139000
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
573240000
CY2015 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
11316000
CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1595000
CY2015 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
7431000
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
40401000
CY2015 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
2800000
CY2015 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
4901000
CY2015 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
48803000
CY2015 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
198265000
CY2015 us-gaap Interest Paid
InterestPaid
26393000
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-31000
CY2015 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
4800000
CY2015 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
3255000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
72728000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3729000
CY2015 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
-87000
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
52496000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
655577000
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-12656000
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
23660000
CY2015 us-gaap Gross Profit
GrossProfit
2284336000
CY2015 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
24416000
CY2015 us-gaap Interest Expense
InterestExpense
73682000
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
79444000
CY2015 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
2100000
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-871000
CY2015 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
100196000
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17520000
CY2015 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2137068000
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-9017000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
15000000
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1376000
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
277920000
CY2015 us-gaap Operating Expenses
OperatingExpenses
1496297000
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-6722000
CY2015 us-gaap Depreciation
Depreciation
120300000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
378472000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157700000
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-71000
CY2015 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
1534000
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
259297000
CY2015 us-gaap Increase Decrease In Accounts Payable Trade
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