2014 Q4 Form 10-K Financial Statement

#000157351616000051 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $3.554B $4.623B $4.694B
YoY Change -14.16% 0.01% -1.38%
Cost Of Revenue $3.235B $483.9M $4.458B
YoY Change -17.54% -89.11% -2.17%
Gross Profit $149.9M $4.139B $300.1M
YoY Change 5451.85% 1603.85% 4.71%
Gross Profit Margin 4.22% 89.53% 6.39%
Selling, General & Admin $31.40M $29.73M $29.70M
YoY Change 30.83% -33.5% 4.58%
% of Gross Profit 20.95% 0.72% 9.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.10M $19.70M $19.60M
YoY Change 3.61% 8.84% 5.95%
% of Gross Profit 13.41% 0.48% 6.53%
Operating Expenses $33.80M $29.73M $182.9M
YoY Change -164.5% -84.0% 6.4%
Operating Profit $116.1M $99.49M $117.2M
YoY Change 110.71% 74.24% 2.18%
Interest Expense -$8.200M $8.612M -$10.50M
YoY Change -15.46% -300.28% -2725.0%
% of Operating Profit -7.06% 8.66% -8.96%
Other Income/Expense, Net $9.000M -$8.484M $900.0K
YoY Change 8900.0% -8584.0%
Pretax Income $141.8M $91.00M $93.90M
YoY Change 217.94% 48.45% -14.09%
Income Tax $38.70M $34.38M $34.40M
% Of Pretax Income 27.29% 37.78% 36.63%
Net Earnings $98.40M $62.70M $73.20M
YoY Change 5.13% 50.36% -5.67%
Net Earnings / Revenue 2.77% 1.36% 1.56%
Basic Earnings Per Share $2.15 $1.35 $1.58
Diluted Earnings Per Share $2.13 $1.35 $1.57
COMMON SHARES
Basic Shares Outstanding 45.73M shares
Diluted Shares Outstanding 46.09M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $327.2M $294.3M $260.2M
YoY Change 11.03% 12.11% 336.58%
Cash & Equivalents $327.2M $293.1M $260.2M
Short-Term Investments
Other Short-Term Assets $68.00M $17.20M $18.10M
YoY Change 335.9% 18.62% -10.4%
Inventory $157.0M $145.8M $166.0M
Prepaid Expenses $11.71M
Receivables $138.5M $205.8M $255.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $690.7M $663.1M $699.9M
YoY Change 1.22% 7.63% 4.29%
LONG-TERM ASSETS
Property, Plant & Equipment $1.248B $1.216B $1.204B
YoY Change 4.96% -2.63% -1.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.54M $17.50M $5.900M
YoY Change 532.45% 139.73% 1080.0%
Total Long-Term Assets $1.259B $1.233B $1.210B
YoY Change 4.35% -1.8% -1.35%
TOTAL ASSETS
Total Short-Term Assets $690.7M $663.1M $699.9M
Total Long-Term Assets $1.259B $1.233B $1.210B
Total Assets $1.949B $1.896B $1.910B
YoY Change 3.22% 1.3% 0.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $227.1M $456.9M $524.2M
YoY Change -27.0% 0.73% -10.9%
Accrued Expenses $154.2M
YoY Change 26.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $413.1M $505.1M $584.1M
YoY Change -21.54% -0.26% -5.91%
LONG-TERM LIABILITIES
Long-Term Debt $488.3M $492.2M $492.0M
YoY Change -9.81% -23.38% 44627.27%
Other Long-Term Liabilities $22.20M $18.40M $18.10M
YoY Change 29.82% 10.18% 10.37%
Total Long-Term Liabilities $488.3M $510.6M $510.1M
YoY Change -9.81% -22.53% 2814.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $413.1M $505.1M $584.1M
Total Long-Term Liabilities $488.3M $510.6M $510.1M
Total Liabilities $1.091B $1.138B $1.216B
YoY Change -11.49% -13.05% 56.2%
SHAREHOLDERS EQUITY
Retained Earnings $351.4M
YoY Change 226.69%
Common Stock $468.0K
YoY Change 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $51.07M
YoY Change
Treasury Stock Shares 1.057M shares 1.041M shares
Shareholders Equity $858.7M $758.5M $693.5M
YoY Change
Total Liabilities & Shareholders Equity $1.949B $1.896B $1.910B
YoY Change 3.22% 1.3% 0.64%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $98.40M $62.70M $73.20M
YoY Change 5.13% 50.36% -5.67%
Depreciation, Depletion And Amortization $20.10M $19.70M $19.60M
YoY Change 3.61% 8.84% 5.95%
Cash From Operating Activities $89.10M $77.90M $25.80M
YoY Change -769.92% -57.94% -72.38%
INVESTING ACTIVITIES
Capital Expenditures -$38.60M -$42.90M -$29.30M
YoY Change -5.62% 58.89% 6.16%
Acquisitions
YoY Change
Other Investing Activities -$15.50M $0.00 $0.00
YoY Change -109.07% -100.0% -100.0%
Cash From Investing Activities -$54.10M -$42.90M -$29.30M
YoY Change -141.65% 102.36% 4.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.200M -900.0K -105.6M
YoY Change -98.58% -102.31% 32.0%
NET CHANGE
Cash From Operating Activities 89.10M 77.90M 25.80M
Cash From Investing Activities -54.10M -42.90M -29.30M
Cash From Financing Activities -1.200M -900.0K -105.6M
Net Change In Cash 33.80M 34.10M -109.1M
YoY Change 4.97% -83.19% 647.26%
FREE CASH FLOW
Cash From Operating Activities $89.10M $77.90M $25.80M
Capital Expenditures -$38.60M -$42.90M -$29.30M
Free Cash Flow $127.7M $120.8M $55.10M
YoY Change 362.68% -43.07% -54.46%

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161236000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
8837000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
8211000 USD
CY2013 us-gaap Depreciation And Amortization
DepreciationAndAmortization
74053000 USD
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
79087000 USD
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
86568000 USD
CY2014Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
2800000 USD
CY2015Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
1600000 USD
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
0 USD
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
0 USD
CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0 USD
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
942000 USD
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
9641000 USD
CY2014 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
2905000 USD
CY2015 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
2660000 USD
CY2013 us-gaap Dividends Cash
DividendsCash
650000000 USD
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.03
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.29
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.35
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.15
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.13
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.26
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.60
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.06
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.02
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.57
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.35
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.58
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.02
CY2013 us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
-13472000 USD
CY2014 us-gaap Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
19512000 USD
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12934000 USD
CY2015 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3287000 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3652000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3155000 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
470000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
3109000 USD
CY2014Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
144283000 USD
CY2015Q4 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
ExcessOfReplacementOrCurrentCostsOverStatedLIFOValue
102849000 USD
CY2013 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1884035000 USD
CY2014 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1930608000 USD
CY2015 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1968629000 USD
CY2014Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
200272000 USD
CY2015Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
159774000 USD
CY2013 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
5995000 USD
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
194000 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4658000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
254194000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
12600000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
93900000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
91000000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
141800000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
339346000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
339300000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
40900000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38800000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
94100000 USD
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
44500000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
218289000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
218300000 USD
CY2013 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
154135000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7600000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
64400000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
56600000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
94400000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
222960000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
223000000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
23600000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
24800000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
60000000 USD
CY2015Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
29200000 USD
CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
137591000 USD
CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
137600000 USD
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.30
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.16
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.39
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.24
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.06
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
4.84
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.52
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.56
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.41
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.70
CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.17
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.29
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.16
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.38
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.23
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.04
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
4.81
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.51
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.56
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.40
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.69
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.14
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
80898000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
20903000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
38749000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
1.73
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.45
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.89
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
1.73
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.45
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.88
CY2013 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2014 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2015 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100059000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
116386000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
80698000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
88968000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
118771000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
76401000 USD
CY2013 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
497000 USD
CY2014 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-714000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-127000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
10594000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1671000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4424000 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
47757000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
158063000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
113520000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-271379000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-53234000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1043000 USD
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-325063000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-59519000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2857000 USD
CY2013 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
5628000 USD
CY2014 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
6662000 USD
CY2015 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1099000 USD
CY2013 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
6892000 USD
CY2014 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-37325000 USD
CY2015 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-25599000 USD
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4011000 USD
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-750000 USD
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1121000 USD
CY2013 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-51204000 USD
CY2014 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
36475000 USD
CY2015 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
46586000 USD
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7755000 USD
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-477000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
27107000 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2014 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
68571000 USD
CY2013 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
115000 shares
CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
313000 shares
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
360000 shares
CY2013 us-gaap Interest Expense
InterestExpense
14509000 USD
CY2014 us-gaap Interest Expense
InterestExpense
36646000 USD
CY2015 us-gaap Interest Expense
InterestExpense
33531000 USD
CY2013 us-gaap Interest Income Other
InterestIncomeOther
1099000 USD
CY2014 us-gaap Interest Income Other
InterestIncomeOther
244000 USD
CY2015 us-gaap Interest Income Other
InterestIncomeOther
2177000 USD
CY2013 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
1080000 USD
CY2014 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
0 USD
CY2015 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
0 USD
CY2013 us-gaap Interest Paid
InterestPaid
1647000 USD
CY2014 us-gaap Interest Paid
InterestPaid
34019000 USD
CY2015 us-gaap Interest Paid
InterestPaid
31798000 USD
CY2014Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
144283000 USD
CY2015Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
102849000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
157046000 USD
CY2015Q4 us-gaap Inventory Net
InventoryNet
155906000 USD
CY2014Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
2345000 USD
CY2015Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
4056000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2014Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
55989000 USD
CY2015Q4 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
56925000 USD
CY2015Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
17800000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
1090632000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
1093951000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1949337000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1886241000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
413080000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
392292000 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
12925000 USD
CY2015Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 USD
CY2015 us-gaap Line Of Credit Facility Dividend Restrictions
LineOfCreditFacilityDividendRestrictions
After giving effect to the applicable restrictions on certain payments, which could include dividends under the credit agreement (which restrictions are only applicable when availability under the credit agreement does not exceed the greater of 25% of the lesser of the revolving commitments and the borrowing base and $100 million (and if availability under the credit agreement does not exceed the greater of 40% of the lesser of the revolving commitments and the borrowing base and $150 million, then our fixed charge coverage ratio must be at least 1.0 to 1.0)) and the indenture, and subject to compliance with applicable law.  As of December 31, 2014, the Company had approximately $107.5 million of its net income and retained earnings free of such restrictions.
CY2014Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
488250000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
490160000 USD
CY2014Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
0 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
222000 USD
CY2014Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
510344000 USD
CY2015Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
511916000 USD
CY2014Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
488250000 USD
CY2015Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
489782000 USD
CY2015 us-gaap Loss Contingency Allegations
LossContingencyAllegations
the plaintiffs allege that the Company has infringed on their electronic pricing system patent.
CY2015Q4 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
0 USD
CY2015 us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Freeny
CY2015 us-gaap Loss Contingency Parties Jointly And Severally Liable In Litigation
LossContingencyPartiesJointlyAndSeverallyLiableInLitigation
Murphy Oil Corporation and Murphy Oil USA, Inc.
CY2015 us-gaap Loss Contingency Trial Or Alternative Dispute Resolution
LossContingencyTrialOrAlternativeDisputeResolution
At trial, and before any judgment was entered for any party, a settlement was reached between the parties and the case was dismissed. The settlement agreement resulted in the Company paying an immaterial amount to the plaintiffs for a license to use their patents for past and future periods
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-132222000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-122803000 USD
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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305582000 USD
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276140000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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233725000 USD
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CY2014Q3 us-gaap Net Income Loss
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CY2014Q4 us-gaap Net Income Loss
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CY2014 us-gaap Net Income Loss
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26200000 USD
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60500000 USD
CY2015Q4 us-gaap Net Income Loss
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66700000 USD
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us-gaap Number Of Operating Segments
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1 segment
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460476000 USD
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169000 USD
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10166000 USD
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13215000 USD
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14531000 USD
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453000 USD
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0 USD
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0 USD
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0 USD
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51348000 USD
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248695000 USD
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650000000 USD
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650000000 USD
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10631000 USD
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2889000 USD
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6693000 USD
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875000 USD
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58000 USD
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35609000 USD
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0 USD
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0 USD
CY2013 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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0 USD
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580000 USD
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3075000 USD
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163303000 USD
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135339000 USD
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205225000 USD
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0.01
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0.01
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20000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
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0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
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0 USD
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11710000 USD
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41173000 USD
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173118000 USD
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1097000 USD
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93765000 USD
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641250000 USD
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0 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
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6113000 USD
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376000 USD
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729000 USD
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171972000 USD
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138888000 USD
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215568000 USD
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1911148000 USD
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2093804000 USD
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1248081000 USD
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1369318000 USD
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15009955000 USD
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14074579000 USD
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9794475000 USD
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15560317000 USD
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14728527000 USD
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10304689000 USD
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50975000 USD
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0 USD
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0 USD
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81170000 USD
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70000000 USD
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146000 USD
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68571000 USD
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98712000 USD
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94925000 USD
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351439000 USD
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527779000 USD
CY2013 us-gaap Revenues
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CY2014Q1 us-gaap Revenues
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4115500000 USD
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4693900000 USD
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CY2014 us-gaap Revenues
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CY2014 us-gaap Revenues
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16986000000 USD
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0
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2161378000 USD
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2273888000 USD
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129431000 USD
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119266000 USD
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129277000 USD
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500000000 USD
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CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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127077 shares
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34.54
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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36.71
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13148 shares
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30609 shares
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127400 shares
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72350 shares
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621149 shares
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465756 shares
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35.13
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36.00
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42.22
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9311711 USD
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
34.21
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
33.80
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.36
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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40.21
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39.46
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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70.57
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127077 shares
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465756 shares
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3053997 USD
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P3Y8M23D
CY2015 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
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P4Y6M18D
CY2013 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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CY2015 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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6806000 USD
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74766 shares
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
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236620 shares
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1000 USD
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858705000 USD
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792290000 USD
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5088434 shares
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51073000 USD
CY2015Q4 us-gaap Treasury Stock Value
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294139000 USD
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51348000 USD
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248695000 USD
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4193000 USD
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3526000 USD
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0 USD
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6101000 USD
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5450000 USD
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1563000 USD
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0 USD
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0 USD
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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1143000 USD
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651000 USD
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77000 USD
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0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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10086000 USD
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222000 USD
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2499000 USD
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873000 USD
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46858000 shares
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46417000 shares
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43794000 shares
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46743000 shares
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46104000 shares
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43434000 shares
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18000000 USD
CY2015 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Contingencies</font><font style="font-family:Arial;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company&#8217;s operations and earnings have been and may be affected by various forms of governmental action. Examples of such governmental action include, but are by no means limited to: tax increases and retroactive tax claims; import and export controls; price controls; allocation of supplies of crude oil and petroleum products and other goods; laws and regulations intended for the promotion of safety and the protection and/or remediation of the environment; governmental support for other forms of energy; and laws and regulations affecting the Company&#8217;s relationships with employees, suppliers, customers, stockholders and others. Because governmental actions are often motivated by political considerations, may be taken without full consideration of their consequences, and may be taken in response to actions of other governments, it is not practical to attempt to predict the likelihood of such actions, the form the actions may take or the effect such actions may have on the Company.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">ENVIRONMENTAL MATTERS AND LEGAL MATTERS &#8212; Murphy USA is subject to numerous federal, state and local laws and regulations dealing with the environment. Violation of such environmental laws, regulations and permits can result in the imposition of significant civil and criminal penalties, injunctions and other sanctions. A discharge of hazardous substances into the environment could, to the extent such event is not insured, subject the Company to substantial expense, including both the cost to comply with applicable regulations and claims by neighboring landowners and other third parties for any personal injury, property damage and other losses that might result.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company currently owns or leases, and has in the past owned or leased, properties at which hazardous substances have been or are being handled. Although the Company believes it has used operating and disposal practices that were standard in the industry at the time, hazardous substances may have been disposed of or released on or under the properties owned or leased by the Company or on or under other locations where they have been taken for disposal. In addition, many of these properties have been operated by third parties whose management of hazardous substances was not under the Company&#8217;s control. Under existing laws the Company could be required to remediate contaminated property (including contaminated groundwater) or to perform remedial actions to prevent future contamination. Certain of these contaminated properties are in various stages of negotiation, investigation, and/or cleanup, and the Company is investigating the extent of any related liability and the availability of applicable defenses. With the sale of the U.S. refineries in 2011, Murphy Oil retained certain liabilities related to environmental matters. Murphy Oil also obtained insurance covering certain levels of environmental exposures. With respect to the previously owned refinery properties, Murphy Oil retained those liabilities in the Separation and Distribution agreement that was entered into related to the separation on August 30, 2013.&#160;&#160;With respect to any remaining potential liabilities, the Company believes costs related to these sites will not have a material adverse effect on Murphy USA&#8217;s net income, financial condition or liquidity in a future period.</font></div><div style="line-height:120%;text-indent:60px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Certain environmental expenditures are likely to be recovered by the Company from other sources, primarily environmental funds maintained by certain states. Since no assurance can be given that future recoveries from other sources will occur, the Company has not recorded a benefit for likely recoveries at </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:Arial;font-size:10pt;">, however certain jurisdictions provide reimbursement for these expenses which have been considered in recording the net exposure. The U.S. Environmental Protection Agency (EPA) currently considers the Company a Potentially Responsible Party (PRP) at </font><font style="font-family:Arial;font-size:10pt;">one</font><font style="font-family:Arial;font-size:10pt;"> Superfund site.&#160;&#160;As to the site, the potential total cost to all parties to perform necessary remedial work at this site may be substantial. However, based on current negotiations and available information, the Company believes that it is a de minimis party as to ultimate responsibility at the Superfund site. Accordingly, the Company has not recorded a liability for remedial costs at the Superfund site at </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:Arial;font-size:10pt;">. The Company could be required to bear a pro rata share of costs attributable to nonparticipating PRPs or could be assigned additional responsibility for remediation at this site or other Superfund sites. The Company believes that its share of the ultimate costs to clean-up this site will be immaterial and will not have a material adverse effect on its net income, financial condition or liquidity in a future period.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Based on information currently available to the Company, the amount of future remediation costs to be incurred to address known contamination sites is not expected to have a material adverse effect on the Company&#8217;s future net income, cash flows or liquidity. However, there is the possibility that additional environmental expenditures could be required to address contamination, including as a result of discovering additional contamination or the imposition of new or revised requirements applicable to known contamination.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In the case </font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Freeny</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">v.</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Murphy Oil Corporation and Murphy Oil USA, Inc.</font><font style="font-family:Arial;font-size:10pt;">, the plaintiffs alleged that the Company had infringed on their electronic pricing system patents. &#160;The Company claimed that its pricing system can be differentiated from the plaintiff's patents and that the plaintiff's patents were invallid.&#160;&#160;Murphy Oil USA, Inc. agreed to defend and indemnify Murphy Oil Corporation in this matter as required by the terms of the Separation Agreement.&#160;&#160;Trial was held in June 2015.&#160;&#160;</font><font style="font-family:Arial;font-size:10pt;">At trial, and before any judgment was entered for any party, a settlement was reached between the parties and the case was dismissed. The settlement agreement resulted in the Company paying an immaterial amount to the plaintiffs for a license to use their patents for past and future periods</font><font style="font-family:Arial;font-size:10pt;">. As a result, a portion of the settlement amount was capitalized as a patent asset and will be amortized over the remaining life of the patents. &#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Murphy USA is engaged in a number of other legal proceedings, all of which the Company considers routine and incidental to its business. Based on information currently available to the Company, the ultimate resolution of those other legal matters is not expected to have a material adverse effect on the Company&#8217;s net income, financial condition or liquidity in a future period.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">INSURANCE &#8212; The Company maintains insurance coverage at levels that are customary and consistent with industry standards for companies of similar size. Murphy USA maintains statutory workers compensation insurance with a deductible of </font><font style="font-family:Arial;font-size:10pt;">$1.0 million</font><font style="font-family:Arial;font-size:10pt;"> per occurrence. As of </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:Arial;font-size:10pt;">, there were a number of outstanding claims that are of a routine nature. The estimated incurred but unpaid liabilities relating to these claims are included in Trade account payables and accrued liabilities on the Consolidated Balance Sheets. While the ultimate outcome of these claims cannot presently be determined, management believes that the accrued liability of </font><font style="font-family:Arial;font-size:10pt;">$18.0 million</font><font style="font-family:Arial;font-size:10pt;"> will be sufficient to cover the related liability and that the ultimate disposition of these claims will have no material effect on the Company&#8217;s financial position and results of operations.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company has obtained insurance coverage as appropriate for the business in which it is engaged, but may incur losses that are not covered by insurance or reserves, in whole or in part, and such losses could adversely affect our results of operations and financial position.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">TAX MATTERS &#8212; Murphy USA is subject to extensive tax liabilities imposed by multiple jurisdictions, including income taxes, indirect taxes (excise/duty, sales/use and gross receipts taxes), payroll taxes, franchise taxes, withholding taxes and ad valorem taxes. New tax laws and regulations and changes in existing tax laws and regulations are continuously being enacted or proposed that could result in increased expenditures for tax liabilities in the future. Many of these liabilities are subject to periodic audits by the respective taxing authority. Subsequent changes to our tax liabilities because of these audits may subject us to interest and penalties.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">OTHER MATTERS &#8212; In the normal course of its business, the Company is required under certain contracts with various governmental authorities and others to provide financial guarantees or letters of credit that may be drawn upon if the Company fails to perform under those contracts. At </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:Arial;font-size:10pt;">, the Company had contingent liabilities of </font><font style="font-family:Arial;font-size:10pt;">$17.8 million</font><font style="font-family:Arial;font-size:10pt;"> on outstanding letters of credit. The Company has not accrued a liability in its balance sheet related to these financial guarantees and letters of credit because it is believed that the likelihood of having these drawn is remote.</font></div></div>
CY2015 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<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:Arial;font-size:10pt;">IMPAIRMENT OF ASSETS &#8211; Long-lived assets, which include property and equipment and finite-lived intangible assets, are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. A long-lived asset is not recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from its use and eventual disposition. If a long-lived asset is not recoverable, an impairment loss is recognized for the amount by which the carrying amount of the long-lived asset exceeds its fair value, with fair value determined based on discounted estimated net cash flows or other appropriate methods.</font></div></div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">USE OF ESTIMATES &#8211; In preparing the financial statements of the Company in conformity with U.S. GAAP, management has made a number of estimates and assumptions related to the reporting of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. Actual results may differ from the estimates. On an ongoing basis, we review our estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.</font></div></div>

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