2018 Q4 Form 10-K Financial Statement

#000006850519000006 Filed on February 15, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $2.254B $1.862B $1.760B
YoY Change 15.18% 13.19% 37.39%
Cost Of Revenue $1.166B $961.0M $938.0M
YoY Change 18.14% 12.93% 31.93%
Gross Profit $1.088B $901.0M $822.0M
YoY Change 12.16% 13.48% 44.21%
Gross Profit Margin 48.27% 48.39% 46.7%
Selling, General & Admin $337.0M $323.0M $316.0M
YoY Change 26.22% 24.71% 29.51%
% of Gross Profit 30.97% 35.85% 38.44%
Research & Development $165.0M $158.0M $162.0M
YoY Change 6.45% 12.06% 20.0%
% of Gross Profit 15.17% 17.54% 19.71%
Depreciation & Amortization $93.00M $43.00M $43.00M
YoY Change 4.49% -12.24% -46.25%
% of Gross Profit 8.55% 4.77% 5.23%
Operating Expenses $502.0M $481.0M $478.0M
YoY Change 18.96% 20.25% 26.12%
Operating Profit $516.0M $294.0M $273.0M
YoY Change 2.58% -15.27% 57.8%
Interest Expense -$64.00M $62.00M $63.00M
YoY Change 33.33% 12.73% 16.67%
% of Operating Profit -12.4% 21.09% 23.08%
Other Income/Expense, Net $18.00M -$24.00M -$46.00M
YoY Change 38.46% -60.66% -13.21%
Pretax Income $465.0M $270.0M $227.0M
YoY Change -0.21% -5.59% 89.17%
Income Tax $107.0M $22.00M $46.00M
% Of Pretax Income 23.01% 8.15% 20.26%
Net Earnings $423.0M $247.0M $180.0M
YoY Change -173.57% 16.51% 133.77%
Net Earnings / Revenue 18.77% 13.27% 10.23%
Basic Earnings Per Share $2.58 $1.52 $1.11
Diluted Earnings Per Share $2.44 $1.43 $1.05
COMMON SHARES
Basic Shares Outstanding 162.6M shares 162.2M shares
Diluted Shares Outstanding 172.6M shares 171.7M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.246B $839.0M $878.0M
YoY Change 3.4% 5.93% 8.26%
Cash & Equivalents $1.257B $839.0M $878.0M
Short-Term Investments
Other Short-Term Assets $354.0M $350.0M $330.0M
YoY Change -57.45% -59.91% -60.19%
Inventory $356.0M $367.0M $391.0M
Prepaid Expenses
Receivables $1.293B $1.179B $1.159B
Other Receivables $138.0M $119.0M $103.0M
Total Short-Term Assets $4.272B $3.664B $3.581B
YoY Change 8.15% 9.83% 16.53%
LONG-TERM ASSETS
Property, Plant & Equipment $895.0M $892.0M $895.0M
YoY Change 4.56% 0.34% 9.15%
Goodwill $1.514B $1.541B $1.528B
YoY Change 61.41% 65.34% 107.33%
Intangibles
YoY Change
Long-Term Investments $12.00M $14.00M $14.00M
YoY Change -7.69% 0.0% 0.0%
Other Assets $344.0M $444.0M $420.0M
YoY Change 3.3% 120.9% 113.2%
Total Long-Term Assets $5.137B $5.299B $5.300B
YoY Change 20.64% 0.32% 4.6%
TOTAL ASSETS
Total Short-Term Assets $4.272B $3.664B $3.581B
Total Long-Term Assets $5.137B $5.299B $5.300B
Total Assets $9.409B $8.963B $8.881B
YoY Change 14.63% 4.0% 9.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $592.0M $456.0M $430.0M
YoY Change -0.17% -3.59% -0.69%
Accrued Expenses $1.210B $1.168B $1.096B
YoY Change -47.07% -42.83% -42.56%
Deferred Revenue $1.263B $1.127B $1.049B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $31.00M $337.0M $347.0M
YoY Change -40.38% 632.61% 688.64%
Total Short-Term Liabilities $3.096B $3.088B $2.922B
YoY Change 5.63% 20.48% 22.52%
LONG-TERM LIABILITIES
Long-Term Debt $5.289B $5.095B $5.298B
YoY Change 19.69% 15.19% 20.03%
Other Long-Term Liabilities $2.300B $2.175B $2.153B
YoY Change -11.03% -11.22% -9.46%
Total Long-Term Liabilities $7.589B $7.270B $7.451B
YoY Change 8.35% 5.78% 9.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.096B $3.088B $2.922B
Total Long-Term Liabilities $7.589B $7.270B $7.451B
Total Liabilities $10.69B $10.36B $10.37B
YoY Change 7.55% 9.77% 13.03%
SHAREHOLDERS EQUITY
Retained Earnings $1.051B $788.0M $627.0M
YoY Change 125.05% -19.67% -35.36%
Common Stock $421.0M $372.0M $446.0M
YoY Change 19.26% 18.1% 82.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.293B -$1.411B -$1.507B
YoY Change
Total Liabilities & Shareholders Equity $9.409B $8.963B $8.881B
YoY Change 14.63% 4.0% 9.1%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $423.0M $247.0M $180.0M
YoY Change -173.57% 16.51% 133.77%
Depreciation, Depletion And Amortization $93.00M $43.00M $43.00M
YoY Change 4.49% -12.24% -46.25%
Cash From Operating Activities $812.0M $338.0M $425.0M
YoY Change 6.7% 95.38% 199.3%
INVESTING ACTIVITIES
Capital Expenditures -$69.00M -$46.00M -$41.00M
YoY Change 228.57% -13.21% -39.71%
Acquisitions
YoY Change
Other Investing Activities -$1.000M $6.000M -$26.00M
YoY Change -91.67% -140.0% -50.94%
Cash From Investing Activities -$70.00M -$40.00M -$67.00M
YoY Change 112.12% -41.18% -44.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -314.0M -388.0M -227.0M
YoY Change 69.73% 156.95% -2.99%
NET CHANGE
Cash From Operating Activities 812.0M 338.0M 425.0M
Cash From Investing Activities -70.00M -40.00M -67.00M
Cash From Financing Activities -314.0M -388.0M -227.0M
Net Change In Cash 428.0M -90.00M 131.0M
YoY Change -21.18% 95.65% -165.17%
FREE CASH FLOW
Cash From Operating Activities $812.0M $338.0M $425.0M
Capital Expenditures -$69.00M -$46.00M -$41.00M
Free Cash Flow $881.0M $384.0M $466.0M
YoY Change 12.66% 69.91% 121.9%

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5000000 USD
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3.30
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0.47
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0.80
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1.30
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CY2017 us-gaap Earnings Per Share Basic
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0.73
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1.11
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1.52
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2.58
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5.95
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3.24
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0.45
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0.78
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1.25
CY2017Q4 us-gaap Earnings Per Share Diluted
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-3.56
CY2017 us-gaap Earnings Per Share Diluted
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-0.95
CY2018Q1 us-gaap Earnings Per Share Diluted
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0.69
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1.05
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1.43
CY2018Q4 us-gaap Earnings Per Share Diluted
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2.44
CY2018 us-gaap Earnings Per Share Diluted
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5.62
CY2016 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-71000000 USD
CY2017 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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62000000 USD
CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-40000000 USD
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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0.334
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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1.140
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0.120
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
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-0.008
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.007
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.013
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.812
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.072
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.030
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.026
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.006
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0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.003
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.001
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.031
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.036
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.010
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.010
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.013
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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0.027
CY2017Q4 us-gaap Employee Related Liabilities Current
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324000000 USD
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21000000 USD
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22000000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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18000000 USD
CY2016 us-gaap Environmental Remediation Expense
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0 USD
CY2017 us-gaap Environmental Remediation Expense
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0 USD
CY2018 us-gaap Environmental Remediation Expense
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57000000 USD
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13000000 USD
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12000000 USD
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19000000 USD
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0 USD
CY2017 us-gaap Equity Securities Fv Ni Realized Gain Loss
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0 USD
CY2018 us-gaap Equity Securities Fv Ni Realized Gain Loss
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11000000 USD
CY2018Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2017 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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47000000 USD
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0 USD
CY2017Q4 us-gaap Financing Receivable Recorded Investment Current
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1000000 USD
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1000000 USD
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322000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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489000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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187000000 USD
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81000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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178000000 USD
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181000000 USD
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183000000 USD
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861000000 USD
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1230000000 USD
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46000000 USD
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CY2018 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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10000000 USD
CY2017 us-gaap Foreign Currency Transaction Loss Before Tax
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0 USD
CY2018 us-gaap Foreign Currency Transaction Loss Before Tax
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0 USD
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15000000 USD
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CY2016 us-gaap Gain Loss Related To Litigation Settlement
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0 USD
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1000000 USD
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6000000 USD
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585000000 USD
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17000000 USD
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-10000000 USD
CY2016 us-gaap Goodwill Impairment Loss
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0 USD
CY2017 us-gaap Goodwill Impairment Loss
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0 USD
CY2018 us-gaap Goodwill Impairment Loss
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2000000 USD
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
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1000000 USD
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CY2017Q2 us-gaap Gross Profit
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570000000 USD
CY2017Q3 us-gaap Gross Profit
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690000000 USD
CY2017Q3 us-gaap Gross Profit
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CY2017Q4 us-gaap Gross Profit
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970000000 USD
CY2017 us-gaap Gross Profit
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901000000 USD
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CY2018 us-gaap Gross Profit
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3480000000 USD
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4000000 USD
CY2017 us-gaap Impairment Of Investments
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0 USD
CY2017 us-gaap Impairment Of Investments
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0 USD
CY2018 us-gaap Impairment Of Investments
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5000000 USD
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21000000 USD
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10000000 USD
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
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1000000 USD
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651000000 USD
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959000000 USD
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980000000 USD
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844000000 USD
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1076000000 USD
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1102000000 USD
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193000000 USD
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117000000 USD
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122000000 USD
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844000000 USD
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1076000000 USD
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1102000000 USD
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3.30
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-0.95
CY2018 us-gaap Income Loss From Continuing Operations Per Basic Share
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5.95
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3.24
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-0.95
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5.62
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282000000 USD
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1227000000 USD
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133000000 USD
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-7000000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-8000000 USD
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-14000000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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874000000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-25000000 USD
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7000000 USD
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295000000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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377000000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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231000000 USD
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4000000 USD
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3000000 USD
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26000000 USD
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39000000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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11000000 USD
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8000000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
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14000000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
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30000000 USD
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66000000 USD
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122000000 USD
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119000000 USD
CY2016 us-gaap Increase Decrease In Deferred Charges
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0 USD
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2000000 USD
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76000000 USD
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46000000 USD
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117000000 USD
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44000000 USD
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523000000 USD
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30000000 USD
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800000 shares
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0 shares
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IncrementalCommonSharesAttributableToConversionOfDebtSecurities
5400000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2700000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
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4200000 shares
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225000000 USD
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215000000 USD
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240000000 USD
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191000000 USD
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176000000 USD
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204000000 USD
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178000000 USD
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206000000 USD
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460000000 USD
CY2018Q4 us-gaap Inventory Gross
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499000000 USD
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327000000 USD
CY2018Q4 us-gaap Inventory Net
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356000000 USD
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328000000 USD
CY2017Q4 us-gaap Inventory Valuation Reserves
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133000000 USD
CY2018Q4 us-gaap Inventory Valuation Reserves
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143000000 USD
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282000000 USD
CY2018Q4 us-gaap Inventory Work In Process And Raw Materials
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293000000 USD
CY2016 us-gaap Investment Income Net
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20000000 USD
CY2017 us-gaap Investment Income Net
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14000000 USD
CY2018 us-gaap Investment Income Net
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18000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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8208000000 USD
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2931000000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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9409000000 USD
CY2018Q4 us-gaap Liabilities Current
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3096000000 USD
CY2017Q4 us-gaap Long Term Debt Current
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52000000 USD
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31000000 USD
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31000000 USD
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604000000 USD
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767000000 USD
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810000000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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801000000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
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4419000000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
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5289000000 USD
CY2017Q4 us-gaap Long Term Investments
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247000000 USD
CY2018Q4 us-gaap Long Term Investments
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169000000 USD
CY2018Q4 us-gaap Loss Contingency Accrual At Carrying Value
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0 USD
CY2017Q4 us-gaap Minority Interest
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15000000 USD
CY2018Q4 us-gaap Minority Interest
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17000000 USD
CY2017Q4 us-gaap Money Market Funds At Carrying Value
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8600000 shares
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4264000 shares
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5570000 shares
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P4Y
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P5Y
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1600000000 USD
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70.28
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85.32
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112.42
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1500000000 USD
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76000000 USD
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1000000 USD
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20000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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2000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
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19000000 USD
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17000000 USD
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10000000 USD
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4000000 USD
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22000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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1000000 USD
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31000000 USD
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30000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
30000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
30000000 USD
CY2017Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
90000000 USD
CY2018Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
138000000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
173100000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
162900000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169600000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162900000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162400000 shares
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:9pt;">The preparation of financial statements in conformity with United States ("U.S.") Generally Accepted Accounting Principles ("GAAP") requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</font></div></div>

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0000068505-19-000006-index-headers.html Edgar Link pending
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