2019 Q2 Form 10-Q Financial Statement

#000104952119000015 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $177.0M $174.6M $174.6M
YoY Change 0.0% 0.0% 50.11%
Cost Of Revenue $97.10M $100.8M $63.57M
YoY Change 14.78% 58.55% 12.45%
Gross Profit $79.84M $73.85M $73.85M
YoY Change 0.0% 0.0% 39.95%
Gross Profit Margin 45.12% 42.29% 42.29%
Selling, General & Admin $30.70M $27.41M $21.14M
YoY Change 20.87% 29.68% 9.93%
% of Gross Profit 38.45% 37.12% 28.62%
Research & Development $20.30M $17.44M $15.02M
YoY Change 36.24% 16.1% 5.8%
% of Gross Profit 25.43% 23.62% 20.34%
Depreciation & Amortization $11.60M $11.50M $11.40M
YoY Change -3.33% 0.88% 44.3%
% of Gross Profit 14.53% 15.57% 15.44%
Operating Expenses $58.10M $51.79M $45.93M
YoY Change 21.55% 12.75% 17.5%
Operating Profit $20.85M $22.06M $22.06M
YoY Change 0.0% 0.0% 222.64%
Interest Expense -$1.600M $2.473M $999.0K
YoY Change -5.88% 147.55% -47.23%
% of Operating Profit -7.67% 11.21% 4.53%
Other Income/Expense, Net -$6.700M -$328.0K $66.00K
YoY Change 1240.0% -596.97% -76.34%
Pretax Income $12.59M $19.47M $19.47M
YoY Change 0.0% 0.0% 229.65%
Income Tax -$217.0K $5.357M $5.357M
% Of Pretax Income -1.72% 27.52% 27.52%
Net Earnings $12.80M $14.11M $14.11M
YoY Change 0.0% 0.0% 281.74%
Net Earnings / Revenue 7.24% 8.08% 8.08%
Basic Earnings Per Share $0.26 $0.30 $0.30
Diluted Earnings Per Share $0.25 $0.29 $0.29
COMMON SHARES
Basic Shares Outstanding 48.45M shares 47.26M shares 46.84M shares
Diluted Shares Outstanding 47.96M shares 47.53M shares

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.9M $112.5M $44.20M
YoY Change 287.82% 154.52% -83.64%
Cash & Equivalents $257.9M $112.5M $44.22M
Short-Term Investments
Other Short-Term Assets $10.90M $10.30M $10.30M
YoY Change -14.84% 0.0% 9.57%
Inventory $137.1M $131.7M $117.1M
Prepaid Expenses
Receivables $118.8M $114.8M $101.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $582.2M $425.2M $313.2M
YoY Change 75.49% 35.77% -30.15%
LONG-TERM ASSETS
Property, Plant & Equipment $60.00M $55.86M $51.29M
YoY Change 17.7% 8.9% 8.31%
Goodwill $562.1M $543.5M $112.8M
YoY Change 13.01% 381.63% -69.14%
Intangibles $206.1M $180.8M $186.4M
YoY Change 15.86% -2.98% 58.02%
Long-Term Investments
YoY Change
Other Assets $6.534M $7.011M $6.814M
YoY Change 1.92% 2.89% 240.53%
Total Long-Term Assets $834.8M $787.2M $743.8M
YoY Change 13.93% 5.84% 39.54%
TOTAL ASSETS
Total Short-Term Assets $582.2M $425.2M $313.2M
Total Long-Term Assets $834.8M $787.2M $743.8M
Total Assets $1.417B $1.212B $1.057B
YoY Change 33.11% 14.71% 7.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.03M $35.22M $32.86M
YoY Change 83.04% 7.19% 35.1%
Accrued Expenses $18.90M $20.34M $16.66M
YoY Change 15.32% 22.14% 14.08%
Deferred Revenue $11.29M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $98.03M $93.79M $79.34M
YoY Change 36.76% 18.22% 8.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $276.5M $195.0M
YoY Change -100.0% 41.79% 10.73%
Other Long-Term Liabilities $15.12M $15.02M $11.80M
YoY Change 34.08% 27.3% -7.56%
Total Long-Term Liabilities $15.12M $15.02M $11.80M
YoY Change 34.08% 27.3% -7.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.03M $93.79M $79.34M
Total Long-Term Liabilities $15.12M $15.02M $11.80M
Total Liabilities $132.2M $400.0M $301.2M
YoY Change -54.8% 32.82% 11.54%
SHAREHOLDERS EQUITY
Retained Earnings $226.7M $213.9M $169.9M
YoY Change 25.99% 25.95% 30.39%
Common Stock $542.0K $473.0K $468.0K
YoY Change 15.57% 1.07% 1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.285B $812.4M $755.8M
YoY Change
Total Liabilities & Shareholders Equity $1.417B $1.212B $1.057B
YoY Change 33.11% 14.71% 7.7%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $12.80M $14.11M $14.11M
YoY Change 0.0% 0.0% 281.74%
Depreciation, Depletion And Amortization $11.60M $11.50M $11.40M
YoY Change -3.33% 0.88% 44.3%
Cash From Operating Activities $26.00M $26.20M $900.0K
YoY Change 1.56% 2811.11% -96.39%
INVESTING ACTIVITIES
Capital Expenditures -$8.800M -$7.100M -$3.500M
YoY Change 120.0% 102.86% -73.08%
Acquisitions $36.50M
YoY Change
Other Investing Activities -$45.60M -$36.50M -$179.6M
YoY Change -79.68% -12073.33%
Cash From Investing Activities -$54.40M -$43.60M -$183.0M
YoY Change 1226.83% -76.17% 1477.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 173.9M 36.00M 194.8M
YoY Change 17290.0% -81.52% -7.59%
NET CHANGE
Cash From Operating Activities 26.00M 26.20M 900.0K
Cash From Investing Activities -54.40M -43.60M -183.0M
Cash From Financing Activities 173.9M 36.00M 194.8M
Net Change In Cash 145.5M 18.60M 12.70M
YoY Change 546.67% 46.46% -94.33%
FREE CASH FLOW
Cash From Operating Activities $26.00M $26.20M $900.0K
Capital Expenditures -$8.800M -$7.100M -$3.500M
Free Cash Flow $34.80M $33.30M $4.400M
YoY Change 17.57% 656.82% -88.39%

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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-45000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2372000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-452000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2559000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-468000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11737000 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3244000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
31412000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30314000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
796076000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
501000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
812382000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
749231000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2372000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5069000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
14109000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000 USD
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
209000 USD
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3529000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
3696000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
755796000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
771891000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1677000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7434000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14836000 USD
us-gaap Net Income Loss
NetIncomeLoss
33971000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
812382000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
725417000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2049000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
15118000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13134000 USD
us-gaap Net Income Loss
NetIncomeLoss
30782000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
755796000 USD
us-gaap Net Income Loss
NetIncomeLoss
33971000 USD
us-gaap Net Income Loss
NetIncomeLoss
30782000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34830000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
30320000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14836000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13045000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1054000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5482000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2715000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1243000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
22081000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19827000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
13770000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
24931000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-3761000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
1060000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
724000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-944000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-137000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-277000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
15610000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2943000 USD
us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
-2065000 USD
us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
2758000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-11286000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4795000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
587000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-2046000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
71548000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17680000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
81529000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
185396000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17862000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11067000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
375000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-99391000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-196838000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1677000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2049000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
81500000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
210000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
15000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7434000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15118000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1851000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73892000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
181931000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-55000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-193000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
45994000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2580000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66521000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
41637000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
112515000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44217000 USD
us-gaap Interest Paid
InterestPaid
8163000 USD
us-gaap Interest Paid
InterestPaid
1101000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5179000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9928000 USD
mrcy Natureof Business Numberof Programs Using Productsand Services
NatureofBusinessNumberofProgramsUsingProductsandServices
300 program
mrcy Natureof Business Numberof Contractors Using Productsand Services
NatureofBusinessNumberofContractorsUsingProductsandServices
25 contractor
us-gaap Nature Of Operations
NatureOfOperations
Description of Business<span style="font-family:inherit;font-size:10pt;">Mercury Systems, Inc. (the “Company” or “Mercury”) is a leading commercial provider of secure sensor and safety-critical mission processing subsystems. Optimized for customer and mission success, its solutions power a wide variety of critical aerospace, defense and intelligence programs. Headquartered in Andover, Massachusetts, it is pioneering a next-generation defense electronics business model specifically designed to meet the industry's current and emerging technology and business needs. The Company delivers affordable innovative solutions, rapid time-to-value and service and support to its defense prime contractor customers. The Company's products and solutions have been deployed in more than </span><span style="font-family:inherit;font-size:10pt;"><span>300</span></span><span style="font-family:inherit;font-size:10pt;"> programs with over </span><span style="font-family:inherit;font-size:10pt;"><span>25</span></span> different defense prime contractors. Key programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program (“SEWIP”), Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, AIDEWS, CDS, and WIN-T. The Company's organizational structure allows it to deliver capabilities that combine technology building blocks and deep domain expertise in the aerospace and defense sector.
us-gaap Use Of Estimates
UseOfEstimates
U<span style="font-family:inherit;font-size:8pt;">SE</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:8pt;">OF</span><span style="font-family:inherit;font-size:10pt;"> E</span><span style="font-family:inherit;font-size:8pt;">STIMATES</span>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
R<span style="font-family:inherit;font-size:8pt;">EVENUE</span><span style="font-family:inherit;font-size:10pt;"> R</span><span style="font-family:inherit;font-size:8pt;">ECOGNITION</span><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recognizes revenue in accordance with ASC 606, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</span><span style="font-family:inherit;font-size:10pt;">, (“ASC 606”), which was adopted on July 1, 2018, using the retrospective method. Revenue is recognized in accordance with the five step model set forth by ASC 606, which involves identification of the contract(s), identification of performance obligations in the contract, determination of the transaction price, allocation of the transaction price to the previously identified performance obligations, and revenue recognition as the performance obligations are satisfied. The adoption of ASC 606 did not have a material impact to the amount or timing of revenue recognition related to the Company's legacy accounting methods for contracts including ship and bill, multiple-deliverable, and contract accounting. Such adoption did not have a material impact, individually or in the aggregate, to any amounts in the Company's Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income, Consolidated Statements of Shareholders’ Equity or Consolidated Statements of Cash Flows. Refer to Note L for disaggregation of revenue for the period.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During step one of the five step model, the Company considers whether contracts should be combined or segmented, and based on this assessment, the Company combines closely related contracts when all the applicable criteria are met. The combination of two or more contracts requires judgment in determining whether the intent of entering into the contracts was effectively to enter into a single contract, which should be combined to reflect an overall profit rate. Similarly, the Company may separate an arrangement, which may consist of a single contract or group of contracts, with varying rates of profitability, only if the applicable criteria are met. Judgment also is involved in determining whether a single contract or group of contracts may be segmented based on how the arrangement and the related performance criteria were negotiated. The decision to combine a group of contracts or segment a contract could change the amount of revenue and gross profit recorded in a given period. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when the performance obligation is satisfied. Certain contracts with customers require the Company to perform tests of its products prior to shipment to ensure their performance complies with the Company’s published product specifications and, on occasion, with additional customer-requested specifications. In these cases, the Company conducts such tests and, if they are completed successfully, includes a written confirmation with each order shipped. As a result, at the time of each product shipment, the Company believes that no further customer testing requirements exist and that there is no uncertainty of acceptance by its customer. The Company's contracts with customers generally do not include a right of return relative to delivered products. In certain cases, contracts are modified to account for changes in the contract specifications or requirements. In most instances, contract modifications are accounted for as part of the existing contract. Certain contracts with customers have options for the customer to acquire additional goods or services. In most cases the pricing of these options are reflective of the standalone selling price of the good or service. These options do not provide the customer with a material right and are accounted for only when the customer exercises the option to purchase the additional goods or services. If the option on the customer contract was not indicative of the standalone selling price of the good or service, the material right would be accounted for as a separate performance obligation. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is a leading provider of secure sensor and safety-critical mission processing subsystems. Revenues are derived from the sales of products that are grouped into one of the following three categories: (i) components; (ii) modules and sub-assemblies; and (iii) integrated subsystems. The Company also generates revenues from the performance of services, including systems engineering support, consulting, maintenance and other support, testing and installation. Each promised good or service within a contract is accounted for separately under the guidance of ASC 606 if they are distinct, i.e., if a good or service is separately identifiable from other items in the contract and if a customer can benefit from it on its own or with other resources that are readily available to the customer. Promised goods or services not meeting the criteria for being a distinct performance obligation are bundled into a single performance obligation with other goods or services that together meet the criteria for being distinct. The appropriate allocation of the transaction price and recognition of revenue is then determined for the bundled performance obligation.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Once the Company identifies the performance obligations, the Company then determines the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. Variable consideration typically arises due to volume discounts, or other provisions that can either decrease or increase the transaction price. To the extent the </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the method the Company expects to better predict the amount of consideration to which it will be entitled. The determination of the estimates for variable consideration require judgment, and are based on past history with similar contracts and anticipated performance. Further, variable consideration is only included in the determination of the transaction price if it is probable that a significant reversal in the amount of revenue recognized will not occur. There are no constraints on the variable consideration recorded.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation using the standalone selling price of each distinct good or service in the contract. Standalone selling prices of the Company’s goods and services are generally not directly observable. Accordingly, the primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which the Company forecasts the expected costs of satisfying a performance obligation and then adds an appropriate margin for that distinct good or service. The objective of the expected cost plus a margin approach is to determine the price at which the Company would transact if the product or service were sold by the Company on a standalone basis. The Company's determination of the expected cost plus a margin approach involves the consideration of several factors based on the specific facts and circumstances of each contract. Specifically, the Company considers the cost to produce the deliverable, the anticipated margin on that deliverable, the selling price and profit margin for similar parts, the Company’s ongoing pricing strategy and policies, often based on the price list established and updated by management on a regular basis, the value of any enhancements that have been built into the deliverable and the characteristics of the varying markets in which the deliverable is sold.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company analyzes the standalone selling prices used in its allocation of transaction price on contracts at least annually. Standalone selling prices will be analyzed on a more frequent basis if a significant change in the Company’s business necessitates a more frequent analysis or if the Company experiences significant variances in its selling prices.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue recognized at a point in time generally relates to contracts that include a combination of components, modules and sub-assemblies, integrated subsystems and related system integration or other services. Contracts with distinct performance obligations recognized at a point in time, with or without an allocation of the transaction price, totaled </span><span style="font-family:inherit;font-size:10pt;"><span>74%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>76%</span></span><span style="font-family:inherit;font-size:10pt;"> of revenues for the three and nine months ended March 31, 2019, respectively. Contracts with distinct performance obligations recognized at a point in time, with or without an allocation of the transaction price, totaled </span><span style="font-family:inherit;font-size:10pt;"><span>77%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>78%</span></span><span style="font-family:inherit;font-size:10pt;"> of revenues for the three and nine months ended March 31, 2018, respectively. Revenue is recognized at a point in time for these products and services (versus over time recognition) due to the following: (i) customers are only able to consume the benefits provided by the Company upon completion of the product or service; (ii) customers do not control the product or service prior to completion; and (iii) the Company does not have an enforceable right to payment at all times for performance completed to date. Accordingly, there is little judgment in determining when control of the good or service transfers to the customer, and revenue is generally recognized upon shipment (for goods) or completion (for services).</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company engages in long-term contracts for development, production and service activities and recognizes revenue for performance obligations over time. These long-term contracts involve the design, development, manufacture, or modification of complex modules and sub-assemblies or integrated subsystems and related services. Revenue is recognized over time, due to the fact that: (i) the Company’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; and (ii) the Company’s performance creates an asset with no alternative use to the Company and the Company has an enforceable right to payment for performance completed to date. The Company considers the nature of these contracts and the types of products and services provided when determining the proper accounting for a particular contract. These contracts include both fixed-price and cost reimbursable contracts. The Company’s cost reimbursable contracts typically include cost-plus fixed fee and time and material ("T&amp;M") contracts.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For long-term contracts, the Company typically leverages the input method, using a cost-to-cost measure of progress. The Company believes that this method represents the most faithful depiction of the Company’s performance because it directly measures value transferred to the customer. Contract estimates and estimates of any variable consideration are based on various assumptions to project the outcome of future events that may span several years. These assumptions include: labor productivity and availability; the complexity of the work to be performed; the cost and availability of materials; the performance of subcontractors; and the availability and timing of funding from the customer. The Company bears the risk of changes in estimates to complete on a fixed-price contract which may cause profit levels to vary from period to period. For cost reimburseable contracts, the Company is reimbursed periodically for allowable costs and is paid a portion of the fee based on contract progress. In the limited instances where the Company enters into T&amp;M contracts, revenue recognized reflects the number of direct labor hours expended in the performance of a contract multiplied by the contract billing rate, as well as reimbursement of other direct billable costs. For T&amp;M contracts, the Company elected to use a practical expedient permitted by ASC 606 whereby revenue is recognized in the amount for which the Company has a right to invoice the customer based on the control transferred to the customer. For all types of contracts, the Company recognizes anticipated contract losses as soon as they become known and estimable.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounting for long-term contracts requires significant judgment relative to estimating total contract revenues and costs, including assumptions relative to the length of time to complete the contract, the nature and complexity of the work to be performed, anticipated increases in wages and prices as well as availability for subcontractor services and materials. The Company’s estimates are based upon the professional knowledge and experience of its engineers, program managers and other personnel, who review each long-term contract monthly to assess the contract’s schedule, performance, technical matters and estimated cost at completion. Changes in estimates are applied retrospectively and when adjustments in estimated contract costs are identified, such revisions may result in current period adjustments to earnings applicable to performance in prior periods.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total revenue recognized under long-term contracts over time was </span><span style="font-family:inherit;font-size:10pt;"><span>26%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>24%</span></span><span style="font-family:inherit;font-size:10pt;"> of total revenues for the three and nine months ended March 31, 2019, respectively. Total revenue recognized under long-term contracts over time was </span><span style="font-family:inherit;font-size:10pt;"><span>23%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>22%</span></span><span style="font-family:inherit;font-size:10pt;"> of total revenues for the three and nine months ended March 31, 2018, respectively. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company generally does not provide its customers with rights of product return other than those related to assurance warranty provisions that permit repair or replacement of defective goods over a period of 12-36 months. The Company accrues for anticipated warranty costs upon product shipment. The Company does not consider activities related to such assurance warranties, if any, to be a separate performance obligation. The Company does offer separately priced extended warranties which generally range from 12 to 36 months that are treated as separate performance obligations. The transaction price allocated to extended warranties is recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On long-term contracts, the portion of the payments retained by the customer is not considered a significant financing component because most contracts have a duration of less than one year and payment is received as progress is made. Many of the Company's long-term contracts have milestone payments, which align the payment schedule with the progress towards completion on the performance obligation. On some contracts, the Company may be entitled to receive an advance payment, which is not considered a significant financing component because it is used to facilitate inventory demands at the onset of a contract and to safeguard the Company from the failure of the other party to abide by some or all of their obligations under the contract.</span></div> All revenues are reported net of government assessed taxes (e.g., sales taxes or value-added taxes).
us-gaap Basis Of Accounting
BasisOfAccounting
A<span style="font-family:inherit;font-size:8pt;">CCOUNTS</span><span style="font-family:inherit;font-size:10pt;"> R</span><span style="font-family:inherit;font-size:8pt;">ECEIVABLE    </span>Accounts receivable, net, represents amounts that have been billed and are currently due from customers. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be collected. The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended as necessary. The allowance is based upon an assessment of the customers' credit worthiness, history with the customer, and the age of the receivable balance. The Company typically invoices a customer upon shipment of the product (or completion of a service) for contracts where revenue is recognized at a point in time. For contracts where revenue is recognized over time, the invoicing events are typically based on specified performance obligation deliverables or milestone events, or quantifiable measures of performance.
CY2019Q1 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
55941000 USD
CY2018Q2 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
39774000 USD
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
11572000 USD
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13425000 USD
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1173000000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10156000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
161976000 USD
mrcy Percentage Of Revenue Recognized
PercentageOfRevenueRecognized
0.58
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47258000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46844000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47164000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46685000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
700000 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
688000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
619000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
788000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47958000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47532000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47783000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47473000 shares
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
244000 shares
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
302000 shares
CY2019Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
82858000 USD
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
61748000 USD
CY2019Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
36472000 USD
CY2018Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
30841000 USD
CY2019Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12325000 USD
CY2018Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15996000 USD
CY2019Q1 us-gaap Inventory Net
InventoryNet
131655000 USD
CY2018Q2 us-gaap Inventory Net
InventoryNet
108585000 USD
CY2018Q2 us-gaap Goodwill
Goodwill
497442000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
543515000 USD
CY2018Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1801000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
629000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
2311000 USD
mrcy Restructuring Expense Reversal
RestructuringExpenseReversal
56000 USD
CY2019Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
63000 USD
us-gaap Restructuring Charges
RestructuringCharges
573000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
19466000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5905000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5357000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2209000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12969000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4837000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
46940000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
25945000 USD
CY2019Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
143000 USD
CY2018Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
96000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1858000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
7675000 USD
mrcy Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Asset Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateDeferredTaxAssetIncomeTaxExpenseBenefit
1711000 USD
CY2019Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2300000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
15000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
45000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-5000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-45000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
317000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4873000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3597000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14836000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13045000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1316000 USD
CY2018Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1187000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4006000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4305000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3557000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2410000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
10830000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
8740000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2019Q1 us-gaap Revenues
Revenues
174636000 USD
CY2019Q1 us-gaap Revenues
Revenues
174636000 USD
CY2018Q1 us-gaap Revenues
Revenues
116336000 USD
CY2018Q1 us-gaap Revenues
Revenues
116336000 USD
CY2018Q1 us-gaap Revenues
Revenues
116336000 USD
us-gaap Revenues
Revenues
477781000 USD
us-gaap Revenues
Revenues
340317000 USD
CY2019Q1 us-gaap Noncurrent Assets
NoncurrentAssets
55857000 USD
CY2018Q2 us-gaap Noncurrent Assets
NoncurrentAssets
50980000 USD
us-gaap Revenues
Revenues
477781000 USD
us-gaap Revenues
Revenues
477781000 USD
us-gaap Revenues
Revenues
340317000 USD
us-gaap Revenues
Revenues
340317000 USD
CY2019Q1 us-gaap Revenues
Revenues
174636000 USD
CY2018Q1 us-gaap Revenues
Revenues
116336000 USD
us-gaap Revenues
Revenues
477781000 USD
us-gaap Revenues
Revenues
340317000 USD
CY2019Q1 us-gaap Revenues
Revenues
174636000 USD
CY2018Q1 us-gaap Revenues
Revenues
116336000 USD
us-gaap Revenues
Revenues
477781000 USD
us-gaap Revenues
Revenues
340317000 USD
CY2019Q1 us-gaap Revenues
Revenues
174636000 USD
CY2019Q1 us-gaap Derivative Amount Of Hedged Item
DerivativeAmountOfHedgedItem
175000000 USD
CY2019Q1 us-gaap Derivative Amount Of Hedged Item
DerivativeAmountOfHedgedItem
175000000 USD

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