2018 Q3 Form 10-Q Financial Statement

#000128941918000163 Filed on October 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $261.3M $243.1M $229.9M
YoY Change 13.66% 14.56% 17.24%
Cost Of Revenue $100.0M $103.4M $90.90M
YoY Change 10.01% 17.5% 7.07%
Gross Profit $161.3M $139.7M $139.0M
YoY Change 16.04% 12.48% 25.0%
Gross Profit Margin 61.73% 57.47% 60.46%
Selling, General & Admin $71.20M $70.70M $64.40M
YoY Change 10.56% 27.16% 31.7%
% of Gross Profit 44.14% 50.61% 46.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.70M $26.40M $21.80M
YoY Change 13.3% 41.18% 20.44%
% of Gross Profit 15.31% 18.9% 15.68%
Operating Expenses $71.20M $97.10M $64.40M
YoY Change 10.56% 30.69% 31.7%
Operating Profit $65.40M $42.60M $52.80M
YoY Change 23.86% -14.63% 19.46%
Interest Expense -$200.0K $1.100M -$900.0K
YoY Change -77.78% -97.04%
% of Operating Profit -0.31% 2.58% -1.7%
Other Income/Expense, Net $7.300M -$700.0K -$2.000M
YoY Change -465.0% -101.82% -195.24%
Pretax Income $72.70M $41.90M $50.80M
YoY Change 43.11% -52.6% 9.72%
Income Tax $16.10M $2.700M $16.90M
% Of Pretax Income 22.15% 6.44% 33.27%
Net Earnings $56.90M $38.90M $33.90M
YoY Change 67.85% -44.67% 12.25%
Net Earnings / Revenue 21.78% 16.0% 14.75%
Basic Earnings Per Share $1.33 $0.80
Diluted Earnings Per Share $1.32 $911.0K $0.79
COMMON SHARES
Basic Shares Outstanding 42.60M shares 42.50M shares 42.50M shares
Diluted Shares Outstanding 43.10M shares 42.90M shares 42.80M shares

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $366.7M $353.3M $324.0M
YoY Change 13.18% 16.22% 22.22%
Cash & Equivalents $323.0M $308.2M $270.3M
Short-Term Investments $43.70M $45.10M $53.70M
Other Short-Term Assets $22.80M $28.30M $25.70M
YoY Change -11.28% 27.48% 8.44%
Inventory
Prepaid Expenses
Receivables $172.4M $148.2M $148.2M
Other Receivables $7.800M $0.00 $0.00
Total Short-Term Assets $583.9M $529.8M $497.9M
YoY Change 17.27% 12.25% 20.53%
LONG-TERM ASSETS
Property, Plant & Equipment $144.5M $147.4M $151.2M
YoY Change -4.43% -3.09% 0.8%
Goodwill $559.2M $564.9M $565.4M
YoY Change -1.1% 1.45% 52.52%
Intangibles
YoY Change
Long-Term Investments $58.40M $62.00M $61.50M
YoY Change -5.04% 53.85% 20.59%
Other Assets $4.400M $6.200M $6.800M
YoY Change -35.29% -29.55% -27.66%
Total Long-Term Assets $855.6M $875.9M $885.8M
YoY Change -3.41% -0.34% 37.04%
TOTAL ASSETS
Total Short-Term Assets $583.9M $529.8M $497.9M
Total Long-Term Assets $855.6M $875.9M $885.8M
Total Assets $1.440B $1.406B $1.384B
YoY Change 4.03% 4.06% 30.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.50M $49.20M $32.60M
YoY Change 30.37% 10.31% -6.86%
Accrued Expenses $85.60M $92.00M $72.40M
YoY Change 18.23% 28.31% 25.48%
Deferred Revenue $189.0M $171.3M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $321.3M $323.2M $294.6M
YoY Change 9.06% 9.6% -6.24%
LONG-TERM LIABILITIES
Long-Term Debt $90.00M $180.0M $205.0M
YoY Change -56.1% -28.0%
Other Long-Term Liabilities $18.60M $21.20M $30.10M
YoY Change -38.21% -40.95% -10.15%
Total Long-Term Liabilities $18.60M $21.20M $30.10M
YoY Change -38.21% -40.95% -10.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $321.3M $323.2M $294.6M
Total Long-Term Liabilities $18.60M $21.20M $30.10M
Total Liabilities $511.9M $600.8M $604.5M
YoY Change -15.32% -8.15% 52.08%
SHAREHOLDERS EQUITY
Retained Earnings $1.095B $958.7M $940.2M
YoY Change 16.46% 11.23% 17.31%
Common Stock $616.3M $601.0M $595.4M
YoY Change 3.51% 2.91% 2.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $717.0M $708.2M $707.5M
YoY Change 1.34% 6.03% 7.64%
Treasury Stock Shares 10.73M shares 10.63M shares 10.63M shares
Shareholders Equity $927.6M $804.9M $779.2M
YoY Change
Total Liabilities & Shareholders Equity $1.440B $1.406B $1.384B
YoY Change 4.03% 4.06% 30.6%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $56.90M $38.90M $33.90M
YoY Change 67.85% -44.67% 12.25%
Depreciation, Depletion And Amortization $24.70M $26.40M $21.80M
YoY Change 13.3% 41.18% 20.44%
Cash From Operating Activities $79.80M $85.40M $62.50M
YoY Change 27.68% 21.13% 3.48%
INVESTING ACTIVITIES
Capital Expenditures -$19.60M -$20.20M -$13.10M
YoY Change 49.62% 32.03% -27.62%
Acquisitions
YoY Change
Other Investing Activities $6.600M $8.900M -$21.90M
YoY Change -130.14% -105.05% 4280.0%
Cash From Investing Activities -$13.00M -$11.30M -$35.00M
YoY Change -62.86% -94.11% 88.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.20M -38.00M -47.70M
YoY Change 1.05% -122.35% 94.69%
NET CHANGE
Cash From Operating Activities 79.80M 85.40M 62.50M
Cash From Investing Activities -13.00M -11.30M -35.00M
Cash From Financing Activities -48.20M -38.00M -47.70M
Net Change In Cash 18.60M 36.10M -20.20M
YoY Change -192.08% -26.02% -216.76%
FREE CASH FLOW
Cash From Operating Activities $79.80M $85.40M $62.50M
Capital Expenditures -$19.60M -$20.20M -$13.10M
Free Cash Flow $99.40M $105.6M $75.60M
YoY Change 31.48% 23.08% -3.69%

Facts In Submission

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171300000 USD
CY2018Q3 us-gaap Contract With Customer Liability Current
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189000000 USD
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CY2018Q3 us-gaap Contract With Customer Liability Noncurrent
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14600000 USD
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us-gaap Cost Of Goods And Services Sold
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302200000 USD
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177100000 USD
us-gaap Costs And Expenses
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541400000 USD
CY2018Q3 us-gaap Costs And Expenses
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195900000 USD
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590700000 USD
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23600000 USD
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30200000 USD
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21800000 USD
us-gaap Depreciation Depletion And Amortization
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64800000 USD
CY2018Q3 us-gaap Depreciation Depletion And Amortization
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24700000 USD
us-gaap Depreciation Depletion And Amortization
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71200000 USD
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0 USD
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2018Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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10500000 USD
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2.28
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1.32
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3.27
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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15500000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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0.231
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us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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85600000 USD
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0 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
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CY2018Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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5600000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
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5600000 USD
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P10Y
us-gaap Finite Lived Intangible Asset Useful Life
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P10Y
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223300000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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236300000 USD
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21100000 USD
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4900000 USD
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5100000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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12900000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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16200000 USD
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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19100000 USD
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318700000 USD
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17500000 USD
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Goodwill Impairment Loss
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21900000 USD
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18800000 USD
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19700000 USD
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18600000 USD
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18600000 USD
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50800000 USD
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72700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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62000000 USD
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58400000 USD
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CY2018Q3 us-gaap Liabilities
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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200000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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200000 USD
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3500000 USD
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500000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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800000 USD
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100000 USD
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments To Acquire Marketable Securities
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23700000 USD
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46400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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55200000 USD
us-gaap Proceeds From Divestiture Of Businesses
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0 USD
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10500000 USD
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200000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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100000 USD
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20600000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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22300000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
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0 USD
us-gaap Proceeds From Sale Of Equity Method Investments
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7900000 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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23700000 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2017Q3 us-gaap Profit Loss
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33900000 USD
us-gaap Profit Loss
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98000000 USD
CY2018Q3 us-gaap Profit Loss
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56900000 USD
us-gaap Profit Loss
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140600000 USD
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144500000 USD
us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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2600000 USD
us-gaap Repayments Of Long Term Debt
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45000000 USD
us-gaap Repayments Of Long Term Debt
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90000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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37500000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
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518000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
17400000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
8900000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
958700000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1095000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
17000000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
229900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
668600000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
757200000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
137600000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
246700000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
69900000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3M
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2017Q3 us-gaap Revenues
Revenues
229900000 USD
us-gaap Revenues
Revenues
668600000 USD
CY2018Q3 us-gaap Revenues
Revenues
261300000 USD
us-gaap Revenues
Revenues
757200000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31100000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
100200000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
35800000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
113700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16500000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23900000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2018Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
489500000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
804900000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
927600000 USD
CY2017Q4 us-gaap Trading Securities
TradingSecurities
1700000 USD
CY2018Q3 us-gaap Trading Securities
TradingSecurities
1800000 USD
CY2017Q3 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
0 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
100000 USD
CY2018Q3 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
0 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
0 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
10633637 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
10728410 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
708200000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
717000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10500000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
18700000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12600000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2400000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3400000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
15000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
12300000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43100000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42600000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42800000 shares

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