2019 Q1 Form 10-K Financial Statement

#000133525819000024 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2 2017 Q4
Revenue $1.728B $2.868B $2.320B
YoY Change 16.56% 6.88% 29.09%
Cost Of Revenue $1.152B $2.135B $1.750B
YoY Change 23.55% 5.57% 38.38%
Gross Profit $576.2M $733.2M $570.2M
YoY Change 4.71% 10.91% 7.04%
Gross Profit Margin 33.35% 25.56% 24.57%
Selling, General & Admin $464.9M $476.4M $651.4M
YoY Change 6.96% 9.68% 41.18%
% of Gross Profit 80.68% 64.98% 114.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.67M $89.90M $204.6M
YoY Change 22.63% 10.71% 88.57%
% of Gross Profit 8.97% 12.26% 35.88%
Operating Expenses $464.9M $476.4M $772.8M
YoY Change 6.96% 9.68% 35.63%
Operating Profit -$23.86M $134.7M -$202.0M
YoY Change 295.74% 18.77% 442.84%
Interest Expense $36.52M $35.52M -$25.80M
YoY Change 11.72% 32.15% -15.13%
% of Operating Profit 26.36%
Other Income/Expense, Net $3.403M -$6.443M -$5.300M
YoY Change -1137.5% -285.89% -43.62%
Pretax Income -$51.28M $95.16M -$233.1M
YoY Change 50.2% 5.1% 155.87%
Income Tax $3.958M $11.80M -$3.700M
% Of Pretax Income 12.4%
Net Earnings -$52.44M $69.36M -$190.9M
YoY Change 54.67% -14.87% 88.33%
Net Earnings / Revenue -3.04% 2.42% -8.23%
Basic Earnings Per Share -$0.31 $0.25 -$1.12
Diluted Earnings Per Share -$0.31 $0.24 -$1.12
COMMON SHARES
Basic Shares Outstanding 210.9M shares 207.3M shares 206.8M shares
Diluted Shares Outstanding 215.1M shares

Balance Sheet

Concept 2019 Q1 2018 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.671B $2.293B $1.825B
YoY Change -9.21% 3.43% 19.52%
Cash & Equivalents $2.671B $2.293B $1.825B
Short-Term Investments
Other Short-Term Assets $48.35M $59.66M $51.90M
YoY Change 9.48% 14.68% 4.28%
Inventory $17.47M
Prepaid Expenses $772.3M $954.0M $546.7M
Receivables $920.0M $949.4M $725.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.425B $4.263B $3.153B
YoY Change -4.73% 7.0% 17.92%
LONG-TERM ASSETS
Property, Plant & Equipment $943.0M $890.4M $885.9M
YoY Change 6.33% 8.94% 17.88%
Goodwill $1.841B $1.824B $1.755B
YoY Change 3.87% 3.93% 0.43%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $423.0M $869.2M $253.2M
YoY Change -38.24% 64.69% -38.44%
Total Long-Term Assets $5.878B $4.689B $4.352B
YoY Change 31.41% 9.9% 6.38%
TOTAL ASSETS
Total Short-Term Assets $4.425B $4.263B $3.153B
Total Long-Term Assets $5.878B $4.689B $4.352B
Total Assets $10.30B $8.953B $7.504B
YoY Change 13.0% 8.5% 10.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.6M $134.2M $85.67M
YoY Change 30.42% 8.27% 55.67%
Accrued Expenses $1.140B $1.180B $1.109B
YoY Change 11.72% 17.92% 41.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $81.00M $85.00M $348.0M
YoY Change -31.93% 28.79% 556.6%
Total Short-Term Liabilities $4.689B $4.207B $3.577B
YoY Change 5.64% 9.65% 45.39%
LONG-TERM LIABILITIES
Long-Term Debt $2.716B $2.743B $1.952B
YoY Change -1.13% 21.97% -13.63%
Other Long-Term Liabilities $100.2M $169.3M $174.4M
YoY Change -35.78% 8.65% 16.42%
Total Long-Term Liabilities $100.2M $169.3M $174.4M
YoY Change -35.78% 8.65% 16.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.689B $4.207B $3.577B
Total Long-Term Liabilities $100.2M $169.3M $174.4M
Total Liabilities $4.789B $4.376B $3.751B
YoY Change 4.23% 9.61% 43.72%
SHAREHOLDERS EQUITY
Retained Earnings -$1.072B -$1.044B -$1.079B
YoY Change -3.75% 1.86% 0.56%
Common Stock $2.099M $2.079M $2.069M
YoY Change 1.11% 1.22% 1.72%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.865M $6.865M $6.865M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 408.0K shares
Shareholders Equity $1.043B $1.163B $1.181B
YoY Change
Total Liabilities & Shareholders Equity $10.30B $8.953B $7.504B
YoY Change 13.0% 8.5% 10.94%

Cashflow Statement

Concept 2019 Q1 2018 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income -$52.44M $69.36M -$190.9M
YoY Change 54.67% -14.87% 88.33%
Depreciation, Depletion And Amortization $51.67M $89.90M $204.6M
YoY Change 22.63% 10.71% 88.57%
Cash From Operating Activities $469.1M -$255.7M $204.8M
YoY Change -39.52% -694.65% -57.15%
INVESTING ACTIVITIES
Capital Expenditures $57.14M -$57.30M -$60.00M
YoY Change 26.62% -19.52% -0.66%
Acquisitions $9.882M
YoY Change -51.13%
Other Investing Activities $14.89M -$168.4M -$32.10M
YoY Change -687.5% 552.71% -69.72%
Cash From Investing Activities -$84.87M -$225.7M -$92.10M
YoY Change -4.35% 132.92% -44.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $13.57M
YoY Change -95.78%
Cash From Financing Activities -$71.49M -89.50M -101.4M
YoY Change -117.69% 368.59% -148.54%
NET CHANGE
Cash From Operating Activities $469.1M -255.7M 204.8M
Cash From Investing Activities -$84.87M -225.7M -92.10M
Cash From Financing Activities -$71.49M -89.50M -101.4M
Net Change In Cash $306.0M -570.9M 11.30M
YoY Change -71.95% 682.05% -97.83%
FREE CASH FLOW
Cash From Operating Activities $469.1M -$255.7M $204.8M
Capital Expenditures $57.14M -$57.30M -$60.00M
Free Cash Flow $411.9M -$198.4M $264.8M
YoY Change -43.6% -273.73% -50.82%

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GoodwillImpairmentLoss
0 USD
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GoodwillImpairmentLoss
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CY2017Q4 us-gaap Goodwill Impairment Loss
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20000000 USD
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GoodwillImpairmentLoss
10500000 USD
CY2018 us-gaap Goodwill Impairment Loss
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10500000 USD
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55238000 USD
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1100000 USD
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
43500000 USD
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48326000 USD
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-9380000 USD
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131105000 USD
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47200000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
123200000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
87600000 USD
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-17802000 USD
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1161000 USD
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2747000 USD
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-27498000 USD
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-11693000 USD
CY2016 us-gaap Income Tax Expense Benefit
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IncomeTaxExpenseBenefit
40765000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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11820000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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18067000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-8845000 USD
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-11116000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-10887000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
2650000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
16914000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-3283000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
27532000 USD
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IncomeTaxReconciliationNondeductibleExpenseOther
3210000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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1544000 USD
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IncomeTaxReconciliationNondeductibleExpenseOther
11380000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Other
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26376000 USD
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-323000 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
93000 USD
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
665000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3264000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4860000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
2390000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
1955000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
389000 USD
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30312000 USD
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44871000 USD
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60016000 USD
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146128000 USD
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133020000 USD
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135429000 USD
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164291000 USD
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26773000 USD
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344539000 USD
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128499000 USD
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238549000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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266241000 USD
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InterestPaid
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InterestPaid
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2573000 USD
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InvestmentIncomeInterest
5717000 USD
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105271000 USD
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137211000 USD
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3577000000 USD
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3749866000 USD
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63160000 USD
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6452000 USD
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62641000 USD
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-17651000 USD
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52187000 USD
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151894000 USD
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62641000 USD
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118332000 USD
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52187000 USD
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152213000 USD
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40697000 USD
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OperatingIncomeLoss
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OperatingIncomeLoss
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OperatingIncomeLoss
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234219000 USD
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161373000 USD
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168314000 USD
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178593000 USD
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253180000 USD
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428080000 USD
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67704000 USD
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67704000 USD
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68165000 USD
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-36689000 USD
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OtherComprehensiveIncomeOtherNetOfTax
461000 USD
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0 USD
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160638000 USD
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67047000 USD
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174391000 USD
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204977000 USD
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3711000 USD
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OtherNoncashIncomeExpense
6231000 USD
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OtherNonoperatingIncomeExpense
115000 USD
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CY2017Q4 us-gaap Other Sundry Liabilities Current
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16829000 USD
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22118000 USD
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122876000 USD
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147140000 USD
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CY2016 us-gaap Payments Of Dividends Minority Interest
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55131000 USD
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46036000 USD
CY2018 us-gaap Payments Of Dividends Minority Interest
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59187000 USD
CY2016 us-gaap Payments Of Merger Related Costs Financing Activities
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20539000 USD
CY2017 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
15883000 USD
CY2018 us-gaap Payments Of Merger Related Costs Financing Activities
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18784000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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4107000 USD
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5452000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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55005000 USD
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14428000 USD
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0 USD
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2145000 USD
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P5Y9M4D
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P5Y9M10D
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P5Y8M25D
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526600000 USD
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32723000 USD
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10500000 USD
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11500000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
20000000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.3611
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.2758
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.2800
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2942
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2588
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.2766
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0149
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0227
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0270
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0124
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0187
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0268
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
23400000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8500000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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57500000 USD
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3500000 shares
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2300000 shares
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1418144000 USD
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1342743000 USD
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504000 USD
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StockholdersEquityOther
-117000 USD
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StockholdersEquityOther
2075000 USD
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TemporaryEquityAccretionToRedemptionValueAdjustment
49952000 USD
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TemporaryEquityAccretionToRedemptionValueAdjustment
91631000 USD
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77900000 USD
CY2017Q4 us-gaap Treasury Stock Shares
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408024 shares
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408024 shares
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15117000 USD
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30630000 USD
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238000 USD
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UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
271000 USD
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3000 USD
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0 USD
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0 USD
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1188000 USD
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2033000 USD
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9000 USD
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546000 USD
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2745000 USD
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
106000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
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807000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1531000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1978000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
15498000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2995000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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0 USD
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UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1233000 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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730000 USD
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16700000 USD
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192100000 USD
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261500000 USD
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98000000 USD
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136200000 USD
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CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
204923740 shares
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
207441468 shares
CY2018 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Gross versus Net Revenue Recognition </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company reports revenue on a gross or net basis based on management&#8217;s assessment of whether the Company acts as a principal or agent in the transaction. To the extent the Company acts as the principal, revenue is reported on a gross basis. The determination of whether the Company acts as a principal or an agent in a transaction is based on an evaluation of whether the Company has the substantial risks and rewards of ownership under the terms of an arrangement. The Ticketing segment&#8217;s revenue, which primarily consists of service fees from its ticketing operations, is recorded net of the face value of the ticket as the Company generally acts as an agent in these transactions. </font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals, acquisition accounting and impairments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. </font></div></div>

Files In Submission

Name View Source Status
Financial_Report.xlsx Edgar Link pending
0001335258-19-000024-index-headers.html Edgar Link pending
0001335258-19-000024-index.html Edgar Link pending
0001335258-19-000024.txt Edgar Link pending
0001335258-19-000024-xbrl.zip Edgar Link pending
codeofconductimage1a06.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
lyv-20181231.xml Edgar Link completed
lyv-20181231.xsd Edgar Link pending
lyv-20181231x10k.htm Edgar Link pending
lyv-20181231xex141.htm Edgar Link pending
lyv-20181231xex211.htm Edgar Link pending
lyv-20181231xex231.htm Edgar Link pending
lyv-20181231xex311.htm Edgar Link pending
lyv-20181231xex312.htm Edgar Link pending
lyv-20181231xex321.htm Edgar Link pending
lyv-20181231xex322.htm Edgar Link pending
lyv-20181231_cal.xml Edgar Link unprocessable
lyv-20181231_def.xml Edgar Link unprocessable
lyv-20181231_lab.xml Edgar Link unprocessable
lyv-20181231_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
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