2016 Q2 Form 10-Q Financial Statement

#000151029516000117 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $16.81B $20.54B
YoY Change -18.14% -23.5%
Cost Of Revenue $14.84B $18.32B
YoY Change -18.97% -25.88%
Gross Profit $1.948B $2.265B
YoY Change -14.0% 2.44%
Gross Profit Margin 11.59% 11.03%
Selling, General & Admin $401.0M $393.0M
YoY Change 2.04% 24.37%
% of Gross Profit 20.59% 17.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $500.0M $362.0M
YoY Change 38.12% 11.38%
% of Gross Profit 25.67% 15.98%
Operating Expenses $401.0M $393.0M
YoY Change 2.04% 24.37%
Operating Profit $1.315B $1.335B
YoY Change -1.5% -2.48%
Interest Expense -$137.0M -$129.0M
YoY Change 6.2% -20.37%
% of Operating Profit -10.42% -9.66%
Other Income/Expense, Net -$5.000M -$5.000M
YoY Change 0.0% -89.58%
Pretax Income $1.178B $1.271B
YoY Change -7.32% -3.79%
Income Tax $395.0M $432.0M
% Of Pretax Income 33.53% 33.99%
Net Earnings $801.0M $826.0M
YoY Change -3.03% -3.39%
Net Earnings / Revenue 4.76% 4.02%
Basic Earnings Per Share $1.51 $1.52
Diluted Earnings Per Share $1.51 $1.51
COMMON SHARES
Basic Shares Outstanding 528.0M shares 541.0M shares
Diluted Shares Outstanding 531.0M shares 544.0M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.754B $1.881B
YoY Change -6.75% -11.48%
Cash & Equivalents $1.754B $1.881B
Short-Term Investments
Other Short-Term Assets $142.0M $134.0M
YoY Change 5.97% 7.2%
Inventory $5.209B $5.540B
Prepaid Expenses
Receivables $3.199B $3.876B
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.30B $11.43B
YoY Change -9.86% -15.92%
LONG-TERM ASSETS
Property, Plant & Equipment $25.51B $16.28B
YoY Change 56.68% 17.57%
Goodwill $3.648B $1.566B
YoY Change 132.95% 67.13%
Intangibles
YoY Change
Long-Term Investments $3.793B $994.0M
YoY Change 281.59% 44.06%
Other Assets $876.0M $379.0M
YoY Change 131.13% 25.08%
Total Long-Term Assets $33.83B $19.22B
YoY Change 75.99% 21.81%
TOTAL ASSETS
Total Short-Term Assets $10.30B $11.43B
Total Long-Term Assets $33.83B $19.22B
Total Assets $44.13B $30.65B
YoY Change 43.98% 4.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.214B $6.225B
YoY Change -16.24% -30.32%
Accrued Expenses $846.0M $838.0M
YoY Change 0.95% 25.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.00M $780.0M
YoY Change -96.54% 2900.0%
Total Short-Term Liabilities $6.782B $8.725B
YoY Change -22.27% -21.08%
LONG-TERM LIABILITIES
Long-Term Debt $11.03B $5.918B
YoY Change 86.41% 63.84%
Other Long-Term Liabilities $1.871B $1.709B
YoY Change 9.48% 13.78%
Total Long-Term Liabilities $12.90B $7.627B
YoY Change 69.18% 49.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.782B $8.725B
Total Long-Term Liabilities $12.90B $7.627B
Total Liabilities $23.21B $18.36B
YoY Change 26.37% 0.13%
SHAREHOLDERS EQUITY
Retained Earnings $10.22B $8.959B
YoY Change 14.02% 41.64%
Common Stock $11.00B $9.919B
YoY Change 10.93% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.407B $6.926B
YoY Change 6.94% 30.36%
Treasury Stock Shares 202.0M shares 191.0M shares
Shareholders Equity $13.49B $11.64B
YoY Change
Total Liabilities & Shareholders Equity $44.13B $30.65B
YoY Change 43.98% 4.35%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $801.0M $826.0M
YoY Change -3.03% -3.39%
Depreciation, Depletion And Amortization $500.0M $362.0M
YoY Change 38.12% 11.38%
Cash From Operating Activities $2.263B $994.0M
YoY Change 127.67% 13.21%
INVESTING ACTIVITIES
Capital Expenditures -$686.0M -$375.0M
YoY Change 82.93% 24.17%
Acquisitions
YoY Change
Other Investing Activities -$83.00M -$93.00M
YoY Change -10.75% 389.47%
Cash From Investing Activities -$769.0M -$468.0M
YoY Change 64.32% 45.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $51.00M $408.0M
YoY Change -87.5% -11.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.00M -723.0M
YoY Change -93.36% 20.9%
NET CHANGE
Cash From Operating Activities 2.263B 994.0M
Cash From Investing Activities -769.0M -468.0M
Cash From Financing Activities -48.00M -723.0M
Net Change In Cash 1.446B -197.0M
YoY Change -834.01% 380.49%
FREE CASH FLOW
Cash From Operating Activities $2.263B $994.0M
Capital Expenditures -$686.0M -$375.0M
Free Cash Flow $2.949B $1.369B
YoY Change 115.41% 16.02%

Facts In Submission

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500000000 USD
us-gaap Depreciation Depletion And Amortization
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990000000 USD
CY2015Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
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CY2016Q2 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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us-gaap Dividends Common Stock Cash
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us-gaap Dividends Common Stock Cash
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CY2016Q2 us-gaap Due From Related Parties Current
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10000000 USD
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CY2016Q2 us-gaap Due From Related Parties Noncurrent
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CY2015Q4 us-gaap Due To Related Parties Current
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CY2016Q2 us-gaap Due To Related Parties Current
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42000000 USD
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us-gaap Earnings Per Share Basic
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CY2016Q2 us-gaap Earnings Per Share Basic
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1.51
us-gaap Earnings Per Share Basic
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1.51
us-gaap Earnings Per Share Diluted
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CY2016Q2 us-gaap Earnings Per Share Diluted
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1.51
us-gaap Earnings Per Share Diluted
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1.51
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
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0 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
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us-gaap Effect Of Lifo Inventory Liquidation On Income
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54000000 USD
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us-gaap Effective Income Tax Rate Continuing Operations
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0.35
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2015Q4 us-gaap Employee Related Liabilities Current
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CY2016Q2 us-gaap Employee Related Liabilities Current
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366000000 USD
CY2015Q4 us-gaap Equity Method Investments
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CY2015Q2 us-gaap Excise And Sales Taxes
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1939000000 USD
us-gaap Excise And Sales Taxes
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3771000000 USD
CY2016Q2 us-gaap Excise And Sales Taxes
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1893000000 USD
us-gaap Excise And Sales Taxes
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3719000000 USD
CY2015Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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CY2015Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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189000000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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189000000 USD
CY2016Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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200000000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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200000000 USD
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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478000000 USD
CY2015Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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490000000 USD
CY2015Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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307000000 USD
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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342000000 USD
CY2016Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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358000000 USD
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171000000 USD
CY2015Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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0 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
0 USD
CY2016Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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2000000 USD
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gain Loss On Disposition Of Assets
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4000000 USD
CY2016Q2 us-gaap Gain Loss On Disposition Of Assets
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0 USD
us-gaap Gain Loss On Disposition Of Assets
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25000000 USD
CY2015Q4 us-gaap Goodwill
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CY2016Q2 us-gaap Goodwill
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CY2015Q2 us-gaap Goodwill Impairment Loss
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0 USD
us-gaap Goodwill Impairment Loss
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0 USD
CY2016Q2 us-gaap Goodwill Impairment Loss
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1000000 USD
us-gaap Goodwill Impairment Loss
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130000000 USD
us-gaap Goodwill Purchase Accounting Adjustments
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CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2016Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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406000000 USD
us-gaap Income Tax Expense Benefit
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918000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2660000000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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1178000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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1111000000 USD
CY2015Q2 us-gaap Income Loss From Equity Method Investments
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20000000 USD
us-gaap Income Loss From Equity Method Investments
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35000000 USD
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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CY2015Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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632000000 USD
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us-gaap Inventory Lifo Reserve Period Charge
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us-gaap Increase Decrease In Accounts Receivable
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276000000 USD
us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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CY2015Q2 us-gaap Interest And Debt Expense
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64000000 USD
us-gaap Interest And Debt Expense
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137000000 USD
us-gaap Interest And Debt Expense
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279000000 USD
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us-gaap Interest Costs Capitalized Adjustment
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16000000 USD
CY2016Q2 us-gaap Interest Costs Capitalized Adjustment
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16000000 USD
us-gaap Interest Costs Capitalized Adjustment
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32000000 USD
CY2015Q2 us-gaap Interest Expense Debt
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69000000 USD
us-gaap Interest Expense Debt
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149000000 USD
us-gaap Interest Expense Debt
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302000000 USD
us-gaap Interest Paid Net
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130000000 USD
us-gaap Interest Paid Net
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242000000 USD
CY2015Q2 us-gaap Inventory Lifo Reserve Period Charge
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0 USD
us-gaap Inventory Lifo Reserve Period Charge
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0 USD
CY2016Q2 us-gaap Inventory Lifo Reserve Period Charge
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CY2015Q4 us-gaap Inventory Net
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CY2016Q2 us-gaap Inventory Net
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CY2015Q4 us-gaap Inventory Valuation Reserves
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370000000 USD
CY2016Q2 us-gaap Inventory Valuation Reserves
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0 USD
CY2015Q2 us-gaap Investment Income Interest
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2000000 USD
us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2016Q2 us-gaap Liabilities
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2016Q2 us-gaap Liabilities And Stockholders Equity
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CY2015Q4 us-gaap Liabilities Current
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CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2016Q2 us-gaap Long Term Debt And Capital Lease Obligations
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11032000000 USD
us-gaap Long Term Purchase Commitment Amount
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1200000000 USD
CY2015Q4 us-gaap Minority Interest
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CY2016Q2 us-gaap Minority Interest
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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18000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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249000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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2184000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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2590000000 USD
CY2015Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2016Q2 us-gaap Net Income Loss
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801000000 USD
us-gaap Net Income Loss
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802000000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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13000000 USD
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
25000000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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CY2015Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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0 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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0 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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9000000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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9000000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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825000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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1714000000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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800000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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801000000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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825000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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1714000000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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800000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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801000000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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1742000000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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696000000 USD
us-gaap Number Of Reportable Segments
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us-gaap Number Of Reporting Units
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CY2015Q2 us-gaap Operating Income Loss
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1335000000 USD
us-gaap Operating Income Loss
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CY2016Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
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us-gaap Other Financial Services Costs
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CY2016Q2 us-gaap Other Financial Services Costs
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us-gaap Other Financial Services Costs
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CY2015Q4 us-gaap Other Inventory Supplies
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CY2015Q4 us-gaap Other Liabilities Current
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CY2016Q2 us-gaap Other Liabilities Current
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Other Operating Activities Cash Flow Statement
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CY2015Q2 us-gaap Other Operating Income
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25000000 USD
us-gaap Other Operating Income
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54000000 USD
CY2016Q2 us-gaap Other Operating Income
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us-gaap Other Operating Income
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us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
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us-gaap Partners Capital Account Private Placement Of Units
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us-gaap Partners Capital Account Sale Of Units
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323000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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CY2015Q2 us-gaap Payments For Repurchase Of Common Stock
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408000000 USD
us-gaap Payments For Repurchase Of Common Stock
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617000000 USD
CY2016Q2 us-gaap Payments For Repurchase Of Common Stock
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51000000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Dividends Common Stock
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272000000 USD
us-gaap Payments Of Dividends Common Stock
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339000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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764000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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1431000000 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
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149000000 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
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171000000 USD
us-gaap Payments To Minority Shareholders
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18000000 USD
us-gaap Payments To Minority Shareholders
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249000000 USD
CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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1179000000 USD
CY2016Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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1242000000 USD
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2016Q2 us-gaap Preferred Stock Shares Authorized
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30000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
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CY2016Q2 us-gaap Preferred Stock Shares Issued
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0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
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0 USD
CY2016Q2 us-gaap Preferred Stock Value
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0 USD
us-gaap Proceeds From Issuance Of Common Limited Partners Units
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315000000 USD
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
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4000000 USD
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
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1000000 USD
us-gaap Proceeds From Issuance Of Commercial Paper
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0 USD
us-gaap Proceeds From Issuance Of Commercial Paper
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763000000 USD
us-gaap Proceeds From Issuance Of Preferred Limited Partners Units
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984000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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18000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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3000000 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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12000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
26000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
528000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
714000000 USD
us-gaap Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
0 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
79000000 USD
CY2016Q2 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
74000000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
839000000 USD
us-gaap Profit Loss
ProfitLoss
1742000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
783000000 USD
us-gaap Profit Loss
ProfitLoss
705000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35604000000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36877000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25164000000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25512000000 USD
CY2015Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
70000000 USD
CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0 USD
CY2016Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
993000000 USD
CY2015Q2 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
16366000000 USD
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
29410000000 USD
CY2016Q2 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
12830000000 USD
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
22531000000 USD
CY2015Q2 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
20537000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
37728000000 USD
CY2016Q2 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
16811000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
29566000000 USD
CY2015Q2 us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
1000000 USD
us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
1000000 USD
CY2016Q2 us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
11000000 USD
us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
19000000 USD
CY2015Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
82000000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
158000000 USD
CY2016Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
124000000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
231000000 USD
us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
0 USD
us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
763000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
427000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1606000000 USD
CY2015Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
173000000 USD
CY2016Q2 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
167000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9752000000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
10215000000 USD
CY2015Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
3000000 USD
CY2016Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
3000000 USD
CY2015Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
460000000 USD
CY2016Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
480000000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
393000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
751000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
401000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
779000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2640000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
13237000000 USD
CY2015Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
50.97
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19675000000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
49.75
CY2016Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
36.35
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-4000000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
40.52
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11390000000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12290000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
198000000 shares
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
13490000000 USD
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
202000000 shares
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19935000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
3000000 USD
CY2015Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
104000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
201000000 USD
CY2016Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
111000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
220000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
202000000 shares
CY2015Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
8000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
12000000 shares
CY2016Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4000000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
7275000000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
7407000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
617000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
126000000 USD
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3000000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
3000000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-18000000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-29000000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
13000000 USD
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
544000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
547000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
531000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
531000000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
541000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
543000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
528000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
528000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by U.S. GAAP for complete financial statements.</font></div></div>

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