2018 Q1 Form 10-K Financial Statement

#000162828018006982 Filed on May 18, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2018 2017 Q1
Revenue $1.002B $3.981B $902.7M
YoY Change 11.03% 16.81% 61.88%
Cost Of Revenue $387.2M $1.560B $369.8M
YoY Change 4.71% -5.48% 45.08%
Gross Profit $615.1M $2.421B $532.8M
YoY Change 15.45% 37.76% 75.97%
Gross Profit Margin 61.37% 60.81% 59.02%
Selling, General & Admin $114.5M $452.1M $111.2M
YoY Change 2.97% -9.54% 42.02%
% of Gross Profit 18.61% 18.68% 20.87%
Research & Development $133.6M $529.3M $127.2M
YoY Change 5.03% -2.93% 33.05%
% of Gross Profit 21.72% 21.87% 23.87%
Depreciation & Amortization $156.9M $615.9M $128.3M
YoY Change 22.29% 31.27% 69.93%
% of Gross Profit 25.51% 25.44% 24.08%
Operating Expenses $370.9M $1.484B $332.7M
YoY Change 11.48% 0.2% 49.86%
Operating Profit $244.1M $936.3M $154.1M
YoY Change 58.4% 239.49% 92.76%
Interest Expense -$42.80M $199.0M -$40.40M
YoY Change 5.94% 36.02% 92.38%
% of Operating Profit -17.53% 21.25% -26.22%
Other Income/Expense, Net -$13.00M -$5.800M $2.000M
YoY Change -750.0% -546.15% -253.85%
Pretax Income $188.2M $737.3M $71.80M
YoY Change 162.12% 721.05% 24.65%
Income Tax $146.7M $481.9M -$65.10M
% Of Pretax Income 77.95% 65.36% -90.67%
Net Earnings $146.7M $255.4M $136.9M
YoY Change 7.16% 55.16% 103.25%
Net Earnings / Revenue 14.64% 6.42% 15.17%
Basic Earnings Per Share $1.10
Diluted Earnings Per Share $0.58 $1.03 $0.57
COMMON SHARES
Basic Shares Outstanding 234.3M shares 232.9M shares 216.4M shares
Diluted Shares Outstanding 248.9M shares

Balance Sheet

Concept 2018 Q1 2018 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.197B $2.197B $1.303B
YoY Change 68.61% 68.61% -46.73%
Cash & Equivalents $901.3M $901.0M $908.7M
Short-Term Investments $1.295B $1.295B $394.0M
Other Short-Term Assets $119.8M $120.0M $58.90M
YoY Change 103.4% 13.21% 403.94%
Inventory $476.2M $476.0M $417.2M
Prepaid Expenses $63.90M $41.30M
Receivables $563.7M $556.0M $478.4M
Other Receivables $8.000M $8.000M $7.000M
Total Short-Term Assets $3.356B $3.356B $2.305B
YoY Change 45.61% 45.6% -25.57%
LONG-TERM ASSETS
Property, Plant & Equipment $767.9M $768.0M $683.3M
YoY Change 12.38% 12.45% 12.13%
Goodwill $2.299B $2.299B
YoY Change 0.0% 127.03%
Intangibles $1.662B $2.148B
YoY Change -22.63% 254.27%
Long-Term Investments $0.00 $0.00 $107.0M
YoY Change -100.0% -100.0% -10.08%
Other Assets $71.80M $172.0M $75.10M
YoY Change -4.39% 19.44% -5.41%
Total Long-Term Assets $4.901B $4.901B $5.382B
YoY Change -8.94% -8.94% 120.46%
TOTAL ASSETS
Total Short-Term Assets $3.356B $3.356B $2.305B
Total Long-Term Assets $4.901B $4.901B $5.382B
Total Assets $8.257B $8.257B $7.687B
YoY Change 7.42% 7.42% 38.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.1M $144.0M $149.2M
YoY Change -3.42% -3.36% 88.12%
Accrued Expenses $229.6M $230.0M $212.5M
YoY Change 8.05% 8.49% 78.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.310B $1.310B $50.00M
YoY Change 2519.8% 2520.0%
Total Short-Term Liabilities $2.017B $2.017B $704.5M
YoY Change 186.36% 186.51% 84.42%
LONG-TERM LIABILITIES
Long-Term Debt $1.758B $1.758B $2.901B
YoY Change -39.38% -39.4% 18.22%
Other Long-Term Liabilities $240.9M $996.0M $217.2M
YoY Change 10.91% 147.76% 426.28%
Total Long-Term Liabilities $1.999B $2.754B $3.118B
YoY Change -35.87% -16.62% 24.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.017B $2.017B $704.5M
Total Long-Term Liabilities $1.999B $2.754B $3.118B
Total Liabilities $4.017B $4.977B $3.822B
YoY Change 5.09% 12.7% 32.87%
SHAREHOLDERS EQUITY
Retained Earnings $1.397B $1.479B
YoY Change -5.55% -6.52%
Common Stock $2.563B $2.538B
YoY Change 0.99% 82.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $662.6M $731.9M
YoY Change -9.47% -10.75%
Treasury Stock Shares 18.21M shares 20.37M shares
Shareholders Equity $3.280B $3.280B $3.271B
YoY Change
Total Liabilities & Shareholders Equity $8.257B $8.257B $7.687B
YoY Change 7.42% 7.42% 38.81%

Cashflow Statement

Concept 2018 Q1 2018 2017 Q1
OPERATING ACTIVITIES
Net Income $146.7M $255.4M $136.9M
YoY Change 7.16% 55.16% 103.25%
Depreciation, Depletion And Amortization $156.9M $615.9M $128.3M
YoY Change 22.29% 31.27% 69.93%
Cash From Operating Activities $359.5M $1.420B $322.6M
YoY Change 11.44% 33.99% 59.23%
INVESTING ACTIVITIES
Capital Expenditures -$58.40M $206.8M -$23.00M
YoY Change 153.91% -374.63% 39.39%
Acquisitions $0.00
YoY Change
Other Investing Activities $8.200M -$804.9M -$464.5M
YoY Change -101.77% -70.87% -129.05%
Cash From Investing Activities -$50.10M -$1.012B -$487.5M
YoY Change -89.72% -64.35% -130.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$42.00M
YoY Change -0.47%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.20M -$415.3M 409.7M
YoY Change -119.58% -169.74% -1850.85%
NET CHANGE
Cash From Operating Activities 359.5M $1.420B 322.6M
Cash From Investing Activities -50.10M -$1.012B -487.5M
Cash From Financing Activities -80.20M -$415.3M 409.7M
Net Change In Cash 229.2M -$7.400M 244.8M
YoY Change -6.37% -99.38% -86.1%
FREE CASH FLOW
Cash From Operating Activities $359.5M $1.420B $322.6M
Capital Expenditures -$58.40M $206.8M -$23.00M
Free Cash Flow $417.9M $1.213B $345.6M
YoY Change 20.92% 6.87% 57.74%

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1.03
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EffectOfExchangeRateOnCashAndCashEquivalents
0 USD
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.315
CY2018Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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169600000 USD
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M28D
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
23000000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
44200000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
28300000 USD
CY2016 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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2200000 USD
CY2017 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
400000 USD
CY2018 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
700000 USD
CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
800000 USD
CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
CY2017Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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558400000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1021100000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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362800000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
143700000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
192500000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
259300000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
314600000 USD
CY2017Q1 us-gaap Finite Lived Intangible Assets Gross
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2706500000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Gross
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2683100000 USD
CY2017Q1 us-gaap Finite Lived Intangible Assets Net
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2148100000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Net
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1662000000 USD
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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700000 USD
CY2017 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000000 USD
CY2018 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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9300000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-2600000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-100000 USD
CY2016 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
0 USD
CY2017 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
0 USD
CY2018 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
4400000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
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1000000 USD
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
100000 USD
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
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5900000 USD
CY2016 us-gaap Gain Loss Related To Litigation Settlement
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11500000 USD
CY2017 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2018 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
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-50600000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
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-43900000 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-43900000 USD
CY2017Q2 us-gaap Gains Losses On Extinguishment Of Debt
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-13800000 USD
CY2017Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2200000 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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-16000000 USD
CY2017Q1 us-gaap Goodwill
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2299000000 USD
CY2018Q1 us-gaap Goodwill
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2299000000 USD
CY2016 us-gaap Gross Profit
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1205500000 USD
CY2016Q2 us-gaap Gross Profit
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348500000 USD
CY2016Q3 us-gaap Gross Profit
GrossProfit
410600000 USD
CY2016Q4 us-gaap Gross Profit
GrossProfit
465300000 USD
CY2017Q1 us-gaap Gross Profit
GrossProfit
532800000 USD
CY2017 us-gaap Gross Profit
GrossProfit
1757200000 USD
CY2017Q2 us-gaap Gross Profit
GrossProfit
584400000 USD
CY2017Q3 us-gaap Gross Profit
GrossProfit
614100000 USD
CY2017Q4 us-gaap Gross Profit
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607100000 USD
CY2018Q1 us-gaap Gross Profit
GrossProfit
615100000 USD
CY2018 us-gaap Gross Profit
GrossProfit
2420700000 USD
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
600000 USD
CY2017 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
11900000 USD
CY2018 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
500000 USD
CY2016 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
324100000 USD
CY2017 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
170600000 USD
CY2018 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
255400000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-75500000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-279300000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-127300000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
281300000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
89800000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
737300000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
356800000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
369100000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
864600000 USD
CY2016 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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323900000 USD
CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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170600000 USD
CY2018 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
255400000 USD
CY2016 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.59
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.79
CY2018 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.10
CY2016 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.49
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.73
CY2018 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.03
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-6000000 USD
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-300000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-200000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-200000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-42600000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-80800000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
481900000 USD
CY2016 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
9400000 USD
CY2017 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
13200000 USD
CY2018 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
6200000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-2500000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1800000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-20500000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-136700000 USD
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-120100000 USD
CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-105000000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-208800000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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98400000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
31400000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
232600000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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0 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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-25000000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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-27200000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-900000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-400000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-3200000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
6000000 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
5600000 USD
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1400000 USD
CY2016 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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0 USD
CY2017 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
0 USD
CY2018 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
653700000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5600000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1700000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-20500000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
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13500000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
12800000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
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17000000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
25400000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
48400000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
25900000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-26400000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-14800000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-13900000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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2100000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
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46800000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
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85300000 USD
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
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41300000 USD
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
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-2200000 USD
CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
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367900000 USD
CY2016 us-gaap Increase Decrease In Inventories
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-48200000 USD
CY2017 us-gaap Increase Decrease In Inventories
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-223700000 USD
CY2018 us-gaap Increase Decrease In Inventories
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59200000 USD
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-100000 USD
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
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-25700000 USD
CY2018 us-gaap Increase Decrease In Other Operating Capital Net
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-14000000 USD
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5000000 USD
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2148100000 USD
CY2018Q1 us-gaap Intangible Assets Net Excluding Goodwill
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1662000000 USD
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InterestExpense
104000000 USD
CY2017 us-gaap Interest Expense
InterestExpense
146300000 USD
CY2018 us-gaap Interest Expense
InterestExpense
199000000 USD
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InterestPaid
52900000 USD
CY2017 us-gaap Interest Paid
InterestPaid
82500000 USD
CY2018 us-gaap Interest Paid
InterestPaid
85300000 USD
CY2017Q1 us-gaap Inventory Finished Goods Net Of Reserves
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134500000 USD
CY2018Q1 us-gaap Inventory Finished Goods Net Of Reserves
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138400000 USD
CY2017Q1 us-gaap Inventory Net
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417200000 USD
CY2018Q1 us-gaap Inventory Net
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476200000 USD
CY2017Q1 us-gaap Inventory Raw Materials Net Of Reserves
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14400000 USD
CY2018Q1 us-gaap Inventory Raw Materials Net Of Reserves
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26000000 USD
CY2017Q1 us-gaap Inventory Work In Process Net Of Reserves
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268300000 USD
CY2018Q1 us-gaap Inventory Work In Process Net Of Reserves
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311800000 USD
CY2016 us-gaap Investment Income Interest
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24400000 USD
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
3100000 USD
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
22000000 USD
CY2016 us-gaap Lease And Rental Expense
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23300000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
35400000 USD
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
30000000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
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7686900000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
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8257200000 USD
CY2017Q1 us-gaap Liabilities Current
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704500000 USD
CY2018Q1 us-gaap Liabilities Current
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2017400000 USD
CY2016 us-gaap Litigation Settlement Expense
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4300000 USD
CY2017 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 USD
CY2018 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 USD
CY2017Q1 us-gaap Long Term Debt
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2950500000 USD
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
3068300000 USD
CY2017Q1 us-gaap Long Term Debt Current
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50000000 USD
CY2018Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1309900000 USD
CY2017Q1 us-gaap Long Term Debt Noncurrent
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2900500000 USD
CY2018Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1758400000 USD
CY2017Q1 us-gaap Long Term Investments
LongTermInvestments
107500000 USD
CY2018Q1 us-gaap Long Term Investments
LongTermInvestments
0 USD
CY2018Q1 us-gaap Loss Contingency Estimate Of Possible Loss
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100000000 USD
CY2016 us-gaap Minority Interest Decrease From Redemptions
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18100000 USD
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-59900000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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595500000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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800400000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-2838000000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-1011700000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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744400000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1059500000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1419600000 USD
CY2016 us-gaap Net Income Loss
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324100000 USD
CY2017 us-gaap Net Income Loss
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164600000 USD
CY2018 us-gaap Net Income Loss
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255400000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-200000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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0 USD
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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0 USD
CY2018 us-gaap Number Of Operating Segments
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2 segment
CY2018 us-gaap Number Of Reporting Units
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2
CY2016 us-gaap Operating Expenses
OperatingExpenses
853200000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
1481400000 USD
CY2018 us-gaap Operating Expenses
OperatingExpenses
1484400000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
352300000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-59100000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
62800000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
118100000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
154100000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
275800000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
221600000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
225400000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
245200000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
244100000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
936300000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
69900000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
26000000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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1700000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
10200000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
13300000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
18700000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2017Q1 us-gaap Other Assets Current
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58900000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
55900000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
75100000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
71800000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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0 USD
CY2017 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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0 shares
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0 shares
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575000000 USD
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1700000 USD
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31.52
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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28.41
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33.00
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31.51
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31.21
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25.30
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34.34
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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31.75
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41.09
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35.03
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CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
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437906 shares
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
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369100000 USD
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42200000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
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42000000 USD
CY2007Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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10000000 shares
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StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000.0 shares
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15000000.0 shares
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2500000 shares
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11400000 shares
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3279800000 USD
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18200000 shares
CY2018Q1 us-gaap Treasury Stock Shares
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18205142 shares
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7500000 shares
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234700000 USD
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363800000 USD
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38300000 USD
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34200000 USD
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170700000 USD
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220700000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
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398500000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
436000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
22500000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
8000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
11700000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
100000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
66100000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
67900000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1700000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5800000 USD
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5400000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
46200000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
193300000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
16400000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
26300000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
30300000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
18200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
9400000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
12900000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4600000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
7600000 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
10900000 USD
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3300000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4400000 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4400000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
217400000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
234800000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
248900000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203400000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
217200000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
232900000 shares
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Credit Risk</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of investments in debt securities and trade receivables.&#160;&#160;Investments in debt securities with original maturities of greater than six months consist primarily of AAA and AA rated financial instruments and counterparties.&#160;&#160;The Company's investments are primarily in direct obligations of the U.S. government or its agencies, corporate bonds, and municipal bonds.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Concentrations of credit risk with respect to accounts receivable are generally not significant due to the diversity of the Company's customers and geographic sales areas.&#160;&#160;The Company sells its products primarily to OEMs and distributors in the Americas, Europe and Asia.&#160;&#160;The Company performs ongoing credit evaluations of its customers' financial condition and, as deemed necessary, may require collateral, primarily letters of credit.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributor advances, included in deferred income on shipments to distributors in the consolidated balance sheets, totaled </font><font style="font-family:inherit;font-size:10pt;">$203.9 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and March 31, </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">.&#160;&#160;On sales to distributors, the Company's payment terms generally require the distributor to settle amounts owed to the Company for an amount in excess of their ultimate cost.&#160;&#160;The Company's sales price to its distributors may be higher than the amount that the distributors will ultimately owe the Company because distributors often negotiate price reductions after purchasing the products from the Company and such reductions are often significant.&#160;&#160;It is the Company's practice to apply these negotiated price discounts to future purchases, requiring the distributor to settle receivable balances, on a current basis, generally within </font><font style="font-family:inherit;font-size:10pt;">30</font><font style="font-family:inherit;font-size:10pt;"> days, for amounts originally invoiced.&#160;&#160;This practice has an adverse impact on the working capital of the Company's distributors.&#160;&#160;As such, the Company has entered into agreements with certain distributors whereby it advances cash to the distributors to reduce the distributors' working capital requirements.&#160;&#160;These advances are reconciled at least on a quarterly basis and are estimated based on the amount of ending inventory as reported by the distributor multiplied by a negotiated percentage.&#160;&#160;Such advances have no impact on revenue recognition or the Company's consolidated statements of income.&#160;&#160;The Company processes discounts taken by distributors against its deferred income on shipments to distributors' balance and trues-up the advanced amounts generally after the end of each completed fiscal quarter.&#160;&#160;The terms of these advances are set forth in binding legal agreements and are unsecured, bear no interest on unsettled balances and are due upon demand.&#160;&#160;The agreements governing these advances can be canceled by the Company at any time.</font></div></div>
CY2018 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:-48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the ordinary course of the Company's business, it is exposed to various liabilities as a result of contracts, product liability, customer claims and other matters.&#160; Additionally, the Company is involved in a limited number of legal actions, both as plaintiff and defendant.&#160; Consequently, the Company could incur uninsured liability in any of those actions.&#160; The Company also periodically receives notifications from various third parties alleging infringement of patents or other intellectual property rights, or from customers requesting reimbursement for various costs. With respect to pending legal actions to which the Company is a party and other claims, although the outcomes are generally not determinable, the Company believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position, cash flows or results of operations.&#160; Litigation and disputes relating to the semiconductor industry are not uncommon, and the Company is, from time to time, subject to such litigation and disputes.&#160; As a result, no assurances can be given with respect to the extent or outcome of any such litigation or disputes in the future. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a result of its acquisition of Atmel, which closed April 4, 2016, the Company became involved with the following legal matters:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">In re: Continental Airbag Products Liability Litigation</font><font style="font-family:inherit;font-size:10pt;">. On May 11, 2016, an Amended and Consolidated Class Action Complaint ("Complaint") was filed in the United States District Court for the Southern District of Florida (Miami Division) against Atmel, Continental Automotive Systems, Inc., Honda Motor Co., Ltd. and an affiliate, and Daimler AG and an affiliate. The Complaint included claims arising under federal law and Florida, California, New Jersey, Michigan and Louisiana state law and alleged that class members unknowingly purchased or leased vehicles containing defective airbag control units (incorporating allegedly defective application specific integrated circuits manufactured by the Company's Atmel subsidiary between 2006 and 2010), and thereby suffered financial harm, including a loss in the value of their purchased or leased vehicles. The plaintiffs were seeking, individually and on behalf of a putative class, unspecified compensatory and exemplary damages, statutory penalties, pre- and post-judgment interest, attorneys' fees, and injunctive and other relief. The Company's Atmel subsidiary contested plaintiffs' claims vigorously, and on May 23, 2017 the case was ordered to be dismissed.</font></div><div style="line-height:120%;padding-bottom:13px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Continental Claim ICC Arbitration. </font><font style="font-family:inherit;font-size:10pt;">On December 29, 2016, Continental Automotive GmbH ("Continental") filed a Request for Arbitration with the ICC, naming as respondents the Company's subsidiaries Atmel Corporation, Atmel SARL, Atmel Global Sales Ltd., and Atmel Automotive GmbH (collectively, &#8220;Atmel&#8221;).&#160; The Request alleges that a quality issue affecting Continental airbag control units in certain recalled vehicles stems from allegedly defective Atmel application specific integrated circuits (&#8220;ASICs&#8221;).&#160; The Continental airbag control units, ASICs and vehicle recalls were also at issue in </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">In re: Continental Airbag Products Liability Litigation</font><font style="font-family:inherit;font-size:10pt;">, described above.&#160; Continental seeks to recover from Atmel all related costs and damages incurred as a result of the vehicle manufacturers&#8217; airbag control unit-related recalls, currently alleged to be </font><font style="font-family:inherit;font-size:10pt;">$227.7 million</font><font style="font-family:inherit;font-size:10pt;">. The Company's Atmel subsidiaries intend to defend this action vigorously.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Southern District of New York Action by LFoundry Rousset ("LFR") and LFR Employees</font><font style="font-family:inherit;font-size:10pt;">. On March 4, 2014, LFR and Jean-Yves Guerrini, individually and on behalf of a putative class of LFR employees, filed an action in the United States District Court for the Southern District of New York (the "District Court") against the Company's Atmel subsidiary, French subsidiary, Atmel Rousset S.A.S. ("Atmel Rousset"), and LFoundry GmbH ("LF"), LFR's German parent. The case purports to relate to Atmel Rousset's June 2010 sale of its wafer manufacturing facility in Rousset, France to LF, and LFR's subsequent insolvency, and later liquidation, more than three years later. The District Court dismissed the case on August 21, 2015, and the United States Court of Appeals for the Second Circuit affirmed the dismissal on June 27, 2016. On July 25, 2016, the plaintiffs filed a notice of appeal from the District Court's June 27, 2016 denial of their motion for relief from the dismissal judgment. On May 19, 2017, the United States Court of Appeals for the Second Circuit affirmed the June 27, 2016 order dismissing the case.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Individual Labor Actions by former LFR Employees</font><font style="font-family:inherit;font-size:10pt;">. In the wake of LFR's insolvency and liquidation, over 500 former employees of LFR have filed individual labor actions against Atmel Rousset in a French labor court. The Company's Atmel Rousset subsidiary believes that each of these actions is entirely devoid of merit, and, further, that any assertion by any of the Claimants of a co-employment relationship with the Atmel Rousset subsidiary is based substantially on the same specious arguments that the Paris Commercial Court summarily rejected in 2014 in related proceedings. The Company's Atmel Rousset subsidiary therefore intends to defend vigorously against each of these claims. Additionally, complaints have been filed in a regional court in France on behalf of the same group of employees against Microchip Technology Rousset, Atmel Switzerland Sarl, Atmel Corporation and Microchip Technology Incorporated alleging that the sale of the Atmel Rousset production unit to LFoundry GmbH was fraudulent and should be voided. These claims are based largely on the same specious arguments as listed in the Southern District of New York Action listed above. The defendant entities therefore intend to defend vigorously against these claims.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accrues for claims and contingencies when losses become probable and reasonably estimable. As of the end of each applicable reporting period, the Company reviews each of its matters and, where it is probable that a liability has been or will be incurred, the Company accrues for all probable and reasonably estimable losses. Where the Company can reasonably estimate a range of losses it may incur regarding such a matter, the Company records an accrual for the amount within the range that constitutes its best estimate. If the Company can reasonably estimate a range but no amount within the range appears to be a better estimate than any other, the Company uses the amount that is the low end of such range. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company's estimate of the aggregate potential liability that is possible but not probable is approximately </font><font style="font-family:inherit;font-size:10pt;">$100 million</font><font style="font-family:inherit;font-size:10pt;"> in excess of amounts accrued. </font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's technology license agreements generally include an indemnification clause that indemnifies the licensee against liability and damages (including legal defense costs) arising from any claims of patent, copyright, trademark or trade secret infringement by the Company's proprietary technology.&#160;&#160;The terms of these indemnification provisions approximate the terms of the outgoing technology license agreements, which are typically perpetual unless terminated by either party for breach. The possible amount of future payments the Company could be required to make based on agreements that specify indemnification limits, if such indemnifications were required on all of these agreements, is approximately </font><font style="font-family:inherit;font-size:10pt;">$160.5 million</font><font style="font-family:inherit;font-size:10pt;">. There are some licensing agreements in place that do not specify indemnification limits.&#160;&#160;As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company had not recorded any liabilities related to these indemnification obligations and the Company believes that any amounts that it may be required to pay under these agreements in the future will not have a material adverse effect on its financial position, cash flows or results of operations.</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%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare its consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles.&#160;&#160;Actual results could differ from those estimates.</font></div></div>

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