2016 Q4 Form 10-K Financial Statement

#000151029518000024 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $17.16B $16.62B $16.81B
YoY Change 9.92% -11.21% -18.14%
Cost Of Revenue $15.64B $14.97B $14.84B
YoY Change 10.04% -8.48% -18.97%
Gross Profit $1.642B $1.492B $1.948B
YoY Change 11.78% -37.89% -14.0%
Gross Profit Margin 9.57% 8.98% 11.59%
Selling, General & Admin $501.0M $420.0M $401.0M
YoY Change -5.11% 7.14% 2.04%
% of Gross Profit 30.51% 28.15% 20.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $504.0M $507.0M $500.0M
YoY Change 87.36% 39.29% 38.12%
% of Gross Profit 30.69% 33.98% 25.67%
Operating Expenses $1.005B $420.0M $401.0M
YoY Change 6.8% 7.14% 2.04%
Operating Profit $553.0M $435.0M $1.315B
YoY Change 63.61% -71.92% -1.5%
Interest Expense -$211.0M -$154.0M -$137.0M
YoY Change -348.24% -302.63% 6.2%
% of Operating Profit -38.16% -35.4% -10.42%
Other Income/Expense, Net -$15.00M -$6.000M -$5.000M
YoY Change 275.0% 0.0% 0.0%
Pretax Income $417.0M $294.0M $1.178B
YoY Change 77.45% -80.12% -7.32%
Income Tax $128.0M $75.00M $395.0M
% Of Pretax Income 30.7% 25.51% 33.53%
Net Earnings $227.0M $145.0M $801.0M
YoY Change 21.39% -84.7% -3.03%
Net Earnings / Revenue 1.32% 0.87% 4.76%
Basic Earnings Per Share $0.43 $0.28 $1.51
Diluted Earnings Per Share $0.43 $0.27 $1.51
COMMON SHARES
Basic Shares Outstanding 527.8M shares 527.0M shares 528.0M shares
Diluted Shares Outstanding 530.0M shares 531.0M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $887.0M $709.0M $1.754B
YoY Change -21.3% -65.31% -6.75%
Cash & Equivalents $887.0M $709.0M $1.754B
Short-Term Investments
Other Short-Term Assets $241.0M $176.0M $142.0M
YoY Change 25.52% 28.47% 5.97%
Inventory $5.656B $5.524B $5.209B
Prepaid Expenses
Receivables $3.617B $3.136B $3.199B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.40B $9.545B $10.30B
YoY Change 9.82% -12.12% -9.86%
LONG-TERM ASSETS
Property, Plant & Equipment $25.77B $25.70B $25.51B
YoY Change 2.39% 57.71% 56.68%
Goodwill $3.587B $3.648B $3.648B
YoY Change -10.75% 133.1% 132.95%
Intangibles $725.0M
YoY Change 0.83%
Long-Term Investments $3.827B $3.554B $3.793B
YoY Change 5.66% 231.22% 281.59%
Other Assets $833.0M $849.0M $876.0M
YoY Change -0.72% 130.71% 131.13%
Total Long-Term Assets $34.01B $33.75B $33.83B
YoY Change 1.09% 74.86% 75.99%
TOTAL ASSETS
Total Short-Term Assets $10.40B $9.545B $10.30B
Total Long-Term Assets $34.01B $33.75B $33.83B
Total Assets $44.41B $43.29B $44.13B
YoY Change 3.01% 43.54% 43.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.593B $5.055B $5.214B
YoY Change 17.92% 1.24% -16.24%
Accrued Expenses $994.0M $768.0M $846.0M
YoY Change 3.22% 1.19% 0.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $28.00M $28.00M $27.00M
YoY Change -3.45% -96.41% -96.54%
Total Short-Term Liabilities $7.146B $6.340B $6.782B
YoY Change 12.62% -17.51% -22.27%
LONG-TERM LIABILITIES
Long-Term Debt $10.54B $10.54B $11.03B
YoY Change -11.37% 78.25% 86.41%
Other Long-Term Liabilities $1.659B $1.776B $1.871B
YoY Change -13.32% 4.72% 9.48%
Total Long-Term Liabilities $12.20B $12.31B $12.90B
YoY Change -11.64% 61.86% 69.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.146B $6.340B $6.782B
Total Long-Term Liabilities $12.20B $12.31B $12.90B
Total Liabilities $23.21B $22.34B $23.21B
YoY Change -0.98% 29.59% 26.37%
SHAREHOLDERS EQUITY
Retained Earnings $10.21B $10.17B $10.22B
YoY Change 4.66% 4.45% 14.02%
Common Stock $11.07B $11.01B $11.00B
YoY Change -0.1% 10.83% 10.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.482B $7.459B $7.407B
YoY Change 2.85% 5.31% 6.94%
Treasury Stock Shares 203.0M shares 203.0M shares 202.0M shares
Shareholders Equity $13.56B $13.40B $13.49B
YoY Change
Total Liabilities & Shareholders Equity $44.41B $43.29B $44.13B
YoY Change 3.01% 43.54% 43.98%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $227.0M $145.0M $801.0M
YoY Change 21.39% -84.7% -3.03%
Depreciation, Depletion And Amortization $504.0M $507.0M $500.0M
YoY Change 87.36% 39.29% 38.12%
Cash From Operating Activities $1.015B $412.0M $2.263B
YoY Change 25.62% -61.46% 127.67%
INVESTING ACTIVITIES
Capital Expenditures -$745.0M -$716.0M -$686.0M
YoY Change 3.33% 39.57% 82.93%
Acquisitions
YoY Change
Other Investing Activities -$5.000M -$5.000M -$83.00M
YoY Change -99.61% -91.53% -10.75%
Cash From Investing Activities -$750.0M -$721.0M -$769.0M
YoY Change -62.74% 26.05% 64.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $51.00M $51.00M
YoY Change -67.31% -87.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -91.00M -736.0M -48.00M
YoY Change -131.6% 120.36% -93.36%
NET CHANGE
Cash From Operating Activities 1.015B 412.0M 2.263B
Cash From Investing Activities -750.0M -721.0M -769.0M
Cash From Financing Activities -91.00M -736.0M -48.00M
Net Change In Cash 174.0M -1.045B 1.446B
YoY Change -118.97% -741.1% -834.01%
FREE CASH FLOW
Cash From Operating Activities $1.015B $412.0M $2.263B
Capital Expenditures -$745.0M -$716.0M -$686.0M
Free Cash Flow $1.760B $1.128B $2.949B
YoY Change 15.11% -28.7% 115.41%

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152000000 USD
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364000000 USD
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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2124000000 USD
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CY2016Q4 us-gaap Commitments And Contingencies
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CY2017Q4 us-gaap Commitments And Contingencies
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1.14
CY2016Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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0.32
CY2016Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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0.32
CY2016Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.36
CY2016Q4 us-gaap Common Stock Dividends Per Share Cash Paid
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0.36
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2017Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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0.36
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0.36
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0.40
CY2017Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.40
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.52
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
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CY2016Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Value
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CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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3807000000 USD
CY2015 us-gaap Contribution Of Property
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CY2016 us-gaap Contribution Of Property
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CY2017 us-gaap Contribution Of Property
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337000000 USD
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CY2017 us-gaap Costs And Expenses
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CY2016 us-gaap Costs And Expenses Related Party
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509000000 USD
CY2017 us-gaap Costs And Expenses Related Party
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570000000 USD
CY2016Q4 us-gaap Crude Oil And Natural Gas Liquids
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2208000000 USD
CY2017Q4 us-gaap Crude Oil And Natural Gas Liquids
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2056000000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
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1210000000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
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189000000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
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681000000 USD
CY2015 us-gaap Current Foreign Tax Expense Benefit
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10000000 USD
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2372000000 USD
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578000000 USD
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CY2017 us-gaap Current Foreign Tax Expense Benefit
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CY2015 us-gaap Current Income Tax Expense Benefit
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CY2016 us-gaap Current Income Tax Expense Benefit
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CY2017 us-gaap Current Income Tax Expense Benefit
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152000000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
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27000000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
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CY2016Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
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CY2017Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
13418000000 USD
CY2016Q4 us-gaap Debt Current
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28000000 USD
CY2017Q4 us-gaap Debt Current
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453000000 USD
CY2017Q4 us-gaap Debt Instrument Unamortized Discount
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413000000 USD
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336000000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
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44000000 USD
CY2017Q4 us-gaap Deferred Finance Costs Net
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59000000 USD
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-9000000 USD
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1000000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
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4000000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
134000000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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CY2017Q4 us-gaap Deferred Income Tax Liabilities
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3861000000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities Net
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CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2017Q4 us-gaap Deferred Tax Assets Net
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CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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23000000 USD
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10000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2016Q4 us-gaap Deferred Tax Liabilities
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CY2017Q4 us-gaap Deferred Tax Liabilities
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CY2016Q4 us-gaap Deferred Tax Liabilities Gross Noncurrent
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CY2017Q4 us-gaap Deferred Tax Liabilities Gross Noncurrent
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CY2016Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2017Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2016Q4 us-gaap Deferred Tax Liabilities Other
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CY2017Q4 us-gaap Deferred Tax Liabilities Other
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CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1
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CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Service And Interest Cost Components1
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CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
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38000000 USD
CY2017 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components
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5000000 USD
CY2016Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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1659000000 USD
CY2017Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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1840000000 USD
CY2017 us-gaap Defined Benefit Plan Investment Goals
DefinedBenefitPlanInvestmentGoals
The overall expected long-term return on plan assets assumption is determined based on an asset rate-of-return modeling tool developed by a third-party investment group. The tool utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our asset allocation to derive an expected long-term rate of return on those assets. Capital market assumptions reflect the long-term capital market outlook. The assumptions for equity and fixed income investments are developed using a building-block approach, reflecting observable inflation information and interest rate information available in the fixed income markets. Long-term assumptions for other asset categories are based on historical results, current market characteristics and the professional judgment of our internal and external investment teams.
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
1914000000 USD
CY2017Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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2008000000 USD
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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1659000000 USD
CY2017Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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1840000000 USD
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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2024000000 USD
CY2017Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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2164000000 USD
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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94000000 USD
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
113000000 USD
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
116000000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
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1502000000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
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2001000000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
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CY2016Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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24000000 USD
CY2017Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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720000000 USD
CY2017 us-gaap Dividends Common Stock Cash
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CY2017Q4 us-gaap Due From Related Parties Current
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CY2017Q4 us-gaap Due From Related Parties Noncurrent
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53000000 USD
CY2017Q4 us-gaap Due To Related Parties Current
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69000000 USD
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5.29
CY2016Q1 us-gaap Earnings Per Share Basic
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0.003
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.51
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.22
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.79
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.13
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.76
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.26
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.003
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.21
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.77
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.09
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.70
CY2015 us-gaap Effect Of Lifo Inventory Liquidation On Income
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78000000 USD
CY2016 us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
0 USD
CY2017 us-gaap Effect Of Lifo Inventory Liquidation On Income
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7000000 USD
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.34
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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0.33
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.14
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.00
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.00
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.45
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.02
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.01
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.01
CY2015 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.00
CY2016 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.01
CY2017 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.04
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.00
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.02
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.01
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.01
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.00
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.03
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02
CY2016Q4 us-gaap Employee Related Liabilities Current
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530000000 USD
CY2017Q4 us-gaap Employee Related Liabilities Current
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591000000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
16000000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
17000000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
19000000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
26000000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
4000000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
25000000 USD
CY2017Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
1170000000 USD
CY2015 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
113000000 USD
CY2016 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
291000000 USD
CY2017 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
388000000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
711000000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
860000000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
884000000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
547000000 USD
CY2015 us-gaap Equity Method Investment Summarized Financial Information Income Loss From Continuing Operations Before Extraordinary Items
EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems
332000000 USD
CY2016 us-gaap Equity Method Investment Summarized Financial Information Income Loss From Continuing Operations Before Extraordinary Items
EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems
-116000000 USD
CY2017 us-gaap Equity Method Investment Summarized Financial Information Income Loss From Continuing Operations Before Extraordinary Items
EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems
1075000000 USD
CY2015 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
239000000 USD
CY2016 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-250000000 USD
CY2017 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
922000000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Assets
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssets
8170000000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Assets
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssets
10854000000 USD
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1462000000 USD
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1714000000 USD
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1390000000 USD
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2421000000 USD
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CY2017Q4 us-gaap Equity Method Investments
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4787000000 USD
CY2016Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
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308000000 USD
CY2017Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
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1210000000 USD
CY2015 us-gaap Excise And Sales Taxes
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CY2016 us-gaap Excise And Sales Taxes
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7506000000 USD
CY2017 us-gaap Excise And Sales Taxes
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CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
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CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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66000000 USD
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2000000 USD
CY2016 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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189000000 USD
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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200000000 USD
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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131000000 USD
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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478000000 USD
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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342000000 USD
CY2016Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
190000000 USD
CY2017 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
-18000000 USD
CY2015 us-gaap Fair Value Of Assets Acquired
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0 USD
CY2016 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 USD
CY2017 us-gaap Fair Value Of Assets Acquired
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45000000 USD
CY2015 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
1344000000 USD
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FederalIncomeTaxExpenseBenefitContinuingOperations
525000000 USD
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CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
199000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
261000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
52000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
48000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
49000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50000000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
52000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
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924000000 USD
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987000000 USD
CY2015 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
1000000 USD
CY2016 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
0 USD
CY2017 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
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CY2015 us-gaap Gain Loss On Disposition Of Assets
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7000000 USD
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GainLossOnDispositionOfAssets
32000000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
10000000 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
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CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2015Q4 us-gaap Goodwill
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CY2016Q4 us-gaap Goodwill
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3587000000 USD
CY2017Q4 us-gaap Goodwill
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CY2016 us-gaap Goodwill Impairment Loss
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130000000 USD
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016 us-gaap Goodwill Purchase Accounting Adjustments
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-241000000 USD
CY2016 us-gaap Goodwill Transfers
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0 USD
CY2016 us-gaap Goodwill Written Off Related To Sale Of Business Unit
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61000000 USD
CY2017 us-gaap Goodwill Written Off Related To Sale Of Business Unit
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1000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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4374000000 USD
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1822000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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3344000000 USD
CY2015 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
88000000 USD
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IncomeLossFromEquityMethodInvestments
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IncomeLossFromEquityMethodInvestments
306000000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1506000000 USD
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609000000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-460000000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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1500000000 USD
CY2015 us-gaap Income Taxes Paid Net
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1605000000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
140000000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
904000000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-2400000000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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985000000 USD
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2814000000 USD
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674000000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
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1093000000 USD
CY2015 us-gaap Increase Decrease In Inventories
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-80000000 USD
CY2016 us-gaap Increase Decrease In Inventories
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70000000 USD
CY2017 us-gaap Increase Decrease In Inventories
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-106000000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
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725000000 USD
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726000000 USD
CY2015 us-gaap Interest And Debt Expense
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318000000 USD
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556000000 USD
CY2017 us-gaap Interest And Debt Expense
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625000000 USD
CY2015 us-gaap Interest Costs Capitalized Adjustment
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37000000 USD
CY2016 us-gaap Interest Costs Capitalized Adjustment
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64000000 USD
CY2017 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
63000000 USD
CY2015 us-gaap Interest Expense Debt
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325000000 USD
CY2016 us-gaap Interest Expense Debt
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602000000 USD
CY2017 us-gaap Interest Expense Debt
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688000000 USD
CY2015 us-gaap Interest Paid Net
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272000000 USD
CY2016 us-gaap Interest Paid Net
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478000000 USD
CY2017 us-gaap Interest Paid Net
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525000000 USD
CY2015 us-gaap Inventory Lifo Reserve Period Charge
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370000000 USD
CY2016 us-gaap Inventory Lifo Reserve Period Charge
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-370000000 USD
CY2017 us-gaap Inventory Lifo Reserve Period Charge
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0 USD
CY2016Q4 us-gaap Inventory Net
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5656000000 USD
CY2017Q4 us-gaap Inventory Net
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5550000000 USD
CY2015 us-gaap Investment Income Interest
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6000000 USD
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InvestmentIncomeInterest
6000000 USD
CY2017 us-gaap Investment Income Interest
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27000000 USD
CY2016Q4 us-gaap Liabilities
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23210000000 USD
CY2017Q4 us-gaap Liabilities
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27219000000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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44413000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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49047000000 USD
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7146000000 USD
CY2017Q4 us-gaap Liabilities Current
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10478000000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
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10544000000 USD
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12322000000 USD
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626000000 USD
CY2016Q4 us-gaap Minority Interest
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6646000000 USD
CY2017Q4 us-gaap Minority Interest
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6795000000 USD
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
40000000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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517000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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537000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1031000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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683000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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27000000 USD
CY2016 us-gaap Long Term Purchase Commitment Amount
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487000000 USD
CY2017 us-gaap Long Term Purchase Commitment Amount
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484000000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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629000000 USD
CY2016 us-gaap Multiemployer Plans Certified Zone Status
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Red
CY2017 us-gaap Multiemployer Plans Certified Zone Status
MultiemployerPlansCertifiedZoneStatus
Red
CY2017 us-gaap Multiemployer Plans Collective Bargaining Arrangement Expiration Date
MultiemployerPlansCollectiveBargainingArrangementExpirationDate
2019-01-31
CY2017 us-gaap Multiemployer Plans Funding Improvement Plan And Rehabilitation Plan
MultiemployerPlansFundingImprovementPlanAndRehabilitationPlan
Implemented
CY2017 us-gaap Multiemployer Plans Surcharge
MultiemployerPlansSurcharge
No
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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4073000000 USD
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3995000000 USD
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6609000000 USD
CY2015 us-gaap Net Income Loss
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2852000000 USD
CY2016Q1 us-gaap Net Income Loss
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1000000 USD
CY2016Q2 us-gaap Net Income Loss
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801000000 USD
CY2016Q3 us-gaap Net Income Loss
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145000000 USD
CY2016Q4 us-gaap Net Income Loss
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227000000 USD
CY2016 us-gaap Net Income Loss
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1174000000 USD
CY2017Q1 us-gaap Net Income Loss
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30000000 USD
CY2017Q2 us-gaap Net Income Loss
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483000000 USD
CY2017Q3 us-gaap Net Income Loss
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903000000 USD
CY2017Q4 us-gaap Net Income Loss
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2016000000 USD
CY2017 us-gaap Net Income Loss
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3432000000 USD
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16000000 USD
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CY2017 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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307000000 USD
CY2015 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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0 USD
CY2016 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
41000000 USD
CY2017 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
65000000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
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2848000000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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1173000000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
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3430000000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
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2848000000 USD
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830000000 USD
CY2015 us-gaap Operating Income Loss
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4692000000 USD
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75000000 USD
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1315000000 USD
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435000000 USD
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1173000000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Diluted
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3430000000 USD
CY2015 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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2868000000 USD
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1172000000 USD
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3739000000 USD
CY2015 us-gaap Noncontrolling Interest Increase From Business Combination
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13000000 USD
CY2016 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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6000000 USD
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129000000 USD
CY2017 us-gaap Number Of Reportable Segments
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3 Segment
CY2016Q1 us-gaap Number Of Reporting Units
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3 reporting_unit
CY2016Q4 us-gaap Operating Income Loss
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553000000 USD
CY2016 us-gaap Operating Income Loss
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2378000000 USD
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292000000 USD
CY2017Q2 us-gaap Operating Income Loss
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982000000 USD
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1576000000 USD
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1119000000 USD
CY2017 us-gaap Operating Income Loss
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3969000000 USD
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1476000000 USD
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255000000 USD
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152000000 USD
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177000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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205000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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224000000 USD
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463000000 USD
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1254000000 USD
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194000000 USD
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172000000 USD
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181000000 USD
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193000000 USD
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194000000 USD
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320000000 USD
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16000000 USD
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246000000 USD
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218000000 USD
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331000000 USD
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327000000 USD
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301000000 USD
CY2016Q4 us-gaap Other Assets Current
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241000000 USD
CY2017Q4 us-gaap Other Assets Current
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145000000 USD
CY2016 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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-49000000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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833000000 USD
CY2016Q4 us-gaap Other Liabilities Current
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378000000 USD
CY2017 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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-42000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
86000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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-23000000 USD
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-5000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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84000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
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3000000 USD
CY2016 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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-40000000 USD
CY2017 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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-34000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
-1000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
16000000 USD
CY2015 us-gaap Other Financial Services Costs
OtherFinancialServicesCosts
31000000 USD
CY2016 us-gaap Other Financial Services Costs
OtherFinancialServicesCosts
24000000 USD
CY2017 us-gaap Other Financial Services Costs
OtherFinancialServicesCosts
27000000 USD
CY2016Q4 us-gaap Other Inventory Supplies
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485000000 USD
CY2017Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
494000000 USD
CY2017Q4 us-gaap Other Liabilities Current
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CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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153000000 USD
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161000000 USD
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10000000 USD
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3190000000 USD
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11390000000 USD
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CY2017 us-gaap Temporary Equity Other Changes
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50.31
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41.84
CY2017 us-gaap Treasury Stock Acquired Average Cost Per Share
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53.85
CY2016Q4 us-gaap Treasury Stock Shares
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4000000 shares
CY2017 us-gaap Treasury Stock Shares Acquired
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19000000 USD
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10000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
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0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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1000000 USD
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1000000 USD
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13000000 USD
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17000000 USD
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0 USD
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6000000 USD
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13000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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10000000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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4000000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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542000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
530000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
512000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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538000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
528000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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507000000 shares
CY2017 us-gaap Defined Benefit Plan Diversification
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The asset allocation strategy will change over time in response to changes primarily in funded status, which is dictated by current and anticipated market conditions, the independent actions of our investment committee, required cash flows to and from the plans and other factors deemed appropriate. Such changes in asset allocation are intended to allocate additional assets to the fixed income asset class should the funded status improve. The fixed income asset class shall be invested in such a manner that its interest rate sensitivity correlates highly with that of the plans&#8217; liabilities. Other asset classes are intended to provide additional return with associated higher levels of risk.</font></div></div>
CY2017 us-gaap Defined Benefit Plan Risk Management Practices
DefinedBenefitPlanRiskManagementPractices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies.</font></div></div>
CY2017 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<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;font-style:italic;font-weight:bold;">Not Yet Adopted</font></div><div style="line-height:120%;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the FASB issued an accounting standards update to amend the hedge accounting rules to simplify the application of hedge accounting guidance and better portray the economic results of risk management activities in the financial statements. The guidance expands the ability to hedge nonfinancial and financial risk components, reduces complexity in fair value hedges of interest rate risk, eliminates the requirement to separately measure and report hedge ineffectiveness, as well as eases certain hedge effectiveness assessment requirements. The guidance is effective beginning in 2019 with early adoption permitted. We are currently evaluating the impact of this guidance, including transition elections and required disclosures, on our financial statements and the timing of adoption. However, since we have not historically designated our commodity derivatives as hedges, we do not expect the adoption of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2017, the FASB issued an accounting standards update to provide guidance about when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. An entity should account for the effects of a modification unless the fair value, vesting conditions and balance sheet classification of the modified award is the same as the original award immediately before the original award is modified.&#160;We will adopt this accounting standards update on a prospective basis beginning on January 1, 2018. We do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2017, the FASB issued an accounting standards update requiring that the service cost component of pension and postretirement benefit costs be presented in the same line item as other current employee compensation costs and other components of those benefit costs be presented separately from the service cost component and outside a subtotal of income from operations, if presented.&#160;The update also states that only the service cost component of pension and postretirement benefit cost is eligible for capitalization.&#160;We will adopt this accounting standards update January 1, 2018. Application is retrospective for the presentation of the components of these benefit costs and prospective for the capitalization of only service costs. We do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2017, the FASB issued an accounting standards update addressing the derecognition of nonfinancial assets.&#160;The guidance defines in substance nonfinancial assets, and states that the derecognition of business activities should be evaluated under the consolidation guidance, with limited exceptions related to conveyances of oil and gas mineral rights or contracts with customers.&#160;The standard eliminates the previous exclusion for businesses that are in-substance real estate, and eliminates some differences based on whether a transferred set is that of assets or a business and whether the transfer is to a joint venture.&#160;The standard must be adopted in conjunction with the adoption date of the revenue recognition accounting standards update, which we will adopt on January 1, 2018. We plan to adopt the new standard using the modified retrospective method and do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued an accounting standards update which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the new guidance, the recognition of an impairment charge is calculated based on the amount by which the carrying amount exceeds the reporting unit&#8217;s fair value, which could be different from the amount calculated under the current method using the implied fair value of the goodwill; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance should be applied on a prospective basis, and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued an accounting standards update to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The standard is intended to narrow the definition of a business by specifying the minimum inputs and processes and by narrowing the definition of outputs. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The guidance will be applied prospectively. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2016, the FASB issued an accounting standards update requiring that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Retrospective application is required. We do not expect application of this accounting standards update to have a material impact on our statements of cash flows.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> In October 2016, the FASB issued an accounting standards update that requires recognition of the income tax consequences of intra-entity transfers of assets other than inventory when the transfer occurs. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The amendments in this accounting standards update should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued an accounting standards update related to the classification of certain cash flows. The accounting standards update provides specific guidance on eight cash flow classification issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination and distributions received from equity method investees, to reduce diversity in practice. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Retrospective application is required. We do not expect application of this accounting standards update to have a material impact on our statements of cash flows.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued an accounting standards update related to the accounting for credit losses on certain financial instruments.&#160;The guidance requires that for most financial assets, losses be based on an expected loss approach which includes estimates of losses over the life of exposure that considers historical, current and forecasted information.&#160;Expanded disclosures related to the methods used to estimate the losses as well as a specific disaggregation of balances for financial assets are also required.&#160;The change is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued an accounting standards update requiring lessees to record virtually all leases on their balance sheets. The accounting standards update also requires expanded disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The change will be effective on a modified retrospective basis for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. We are currently evaluating the impact of this standard on our financial statements and disclosures, internal controls and accounting policies. This evaluation process includes reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the practical expedients in order to determine the best path of implementing changes to existing processes and controls along with necessary system implementations. We completed our system implementation evaluation during the fourth quarter of 2017, and concluded we will implement a third-party supported lease accounting information system solution to account for our leases. We have begun a project to implement this system and are currently collecting the necessary information on our lease population, establishing a new lease accounting process and designing new internal controls for the new process. We do not plan to early adopt the standard. We believe the impact will be material on the consolidated financial statements as all leases will be recognized as a right of use asset and lease obligation. Based on results of our evaluation process to date, we also believe the impact on our existing processes, controls and information systems may be material. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued an accounting standards update requiring unconsolidated equity investments, not accounted for under the equity method, to be measured at fair value with changes in fair value recognized in net income. The accounting standards update also amends the presentation and disclosure of financial instruments. The changes are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued an accounting standards update for revenue recognition for contracts with customers. The guidance in the accounting standards update states that revenue is recognized when a customer obtains control of a good or service. Recognition of the revenue will involve a multiple step approach including identifying the contract, identifying the separate performance obligations, determining the transaction price, allocating the price to the performance obligations and recognizing the revenue as the obligations are satisfied. Additional disclosures will be required to provide adequate information to understand the nature, amount, timing and uncertainty of reported revenues and revenues expected to be recognized. We completed the evaluation of the impact of this standard on our financial statements and disclosures, internal controls and accounting policies in the fourth quarter of 2017. We will adopt the standard effective January 1, 2018, using the modified retrospective method, resulting in an immaterial cumulative effect adjustment as of the date of adoption. For most contract types, we do not believe revenue recognition patterns will change materially. We do expect certain provisions of the contracts in our Midstream segment to be presented on a gross revenue recognition basis as a result of implementation. In addition, we expect to elect to change our presentation of consumer excise taxes incurred concurrently with revenue producing transactions and collected on behalf of our customers from gross to net upon the adoption of this accounting standards update. Based on the results of our evaluation process, we do not expect our existing revenue recognition processes, controls and information systems to materially change.</font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue recognition</font><font style="font-family:inherit;font-size:10pt;"> &#8211; Revenues are recognized when products are shipped or services are provided to customers, title is transferred, the sales price is fixed or determinable and collectability is reasonably assured.&#160;Costs associated with revenues are recorded in cost of revenues.&#160;Shipping and other transportation costs billed to our customers are presented on a gross basis in revenues and cost of revenues.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Rebates from vendors are recognized as a reduction of cost of revenues when the initiating transaction occurs.&#160;Incentives that are derived from contractual provisions are accrued based on past experience and recognized in cost of revenues. Rebates to customers are reflected as a reduction of revenue and are accrued for in &#8220;Accounts payable&#8221; on the consolidated balance sheets.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates</font><font style="font-family:inherit;font-size:10pt;"> &#8211; The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods.</font></div></div>

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