2019 Q2 Form 10-K Financial Statement

#000007633419000096 Filed on August 23, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q3 2018 Q2
Revenue $3.681B $3.479B $3.817B
YoY Change -3.56% 3.41% 9.19%
Cost Of Revenue $2.736B $2.595B $2.823B
YoY Change -3.1% 2.83% 6.79%
Gross Profit $945.7M $884.5M $994.3M
YoY Change -4.89% 5.12% 18.15%
Gross Profit Margin 25.69% 25.42% 26.05%
Selling, General & Admin $388.0M $394.3M $410.0M
YoY Change -5.37% -0.67% 4.41%
% of Gross Profit 41.03% 44.58% 41.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $105.4M $57.79M $114.8M
YoY Change -8.19% -3.61% -3.29%
% of Gross Profit 11.15% 6.53% 11.55%
Operating Expenses $395.0M $394.3M $349.8M
YoY Change 12.92% -0.67% -16.89%
Operating Profit $550.7M $540.7M $644.5M
YoY Change -14.55% 2.95% 53.21%
Interest Expense -$24.70M $44.34M -$69.10M
YoY Change -64.25% -17.21% 30.87%
% of Operating Profit -4.49% 8.2% -10.72%
Other Income/Expense, Net -$36.67M
YoY Change -34.57%
Pretax Income $513.3M $459.7M $497.9M
YoY Change 3.09% 22.82% 24.29%
Income Tax $99.60M $83.82M $116.6M
% Of Pretax Income 19.4% 18.23% 23.42%
Net Earnings $413.7M $375.7M $353.3M
YoY Change 17.1% 31.65% 20.44%
Net Earnings / Revenue 11.24% 10.8% 9.25%
Basic Earnings Per Share $2.84
Diluted Earnings Per Share $3.17 $2.79 $2.62
COMMON SHARES
Basic Shares Outstanding 132.4M shares
Diluted Shares Outstanding 134.7M shares

Balance Sheet

Concept 2019 Q2 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.371B $993.0M $855.0M
YoY Change 294.27% 1.85% -7.47%
Cash & Equivalents $3.220B $952.1M $822.1M
Short-Term Investments $151.0M $41.00M $33.00M
Other Short-Term Assets $182.0M $165.0M $135.0M
YoY Change 34.81% 23.13% 12.5%
Inventory $1.645B $1.621B
Prepaid Expenses $182.5M $134.9M
Receivables $2.131B $2.146B $2.146B
Other Receivables $311.0M $312.0M $328.0M
Total Short-Term Assets $7.673B $5.298B $5.085B
YoY Change 50.89% 5.86% 6.39%
LONG-TERM ASSETS
Property, Plant & Equipment $1.768B $1.828B $1.856B
YoY Change -4.74% -6.87% -4.18%
Goodwill $5.454B $5.485B $5.504B
YoY Change -0.92% -3.42% -1.48%
Intangibles $1.783B $1.956B $2.016B
YoY Change -11.52% -11.7% -12.65%
Long-Term Investments $316.7M $304.4M
YoY Change 4.05% -10.96%
Other Assets $582.0M $858.0M $859.0M
YoY Change -32.25% -1.27% -2.28%
Total Long-Term Assets $10.06B $10.13B $10.23B
YoY Change -1.72% -5.59% -4.44%
TOTAL ASSETS
Total Short-Term Assets $7.673B $5.298B $5.085B
Total Long-Term Assets $10.06B $10.13B $10.23B
Total Assets $17.73B $15.43B $15.32B
YoY Change 15.74% -1.95% -1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.413B $1.405B $1.430B
YoY Change -1.2% 7.7% 9.98%
Accrued Expenses $982.0M $866.0M $930.0M
YoY Change 5.59% 2.61% -0.21%
Deferred Revenue $64.67M $62.52M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $587.0M $796.9M $638.5M
YoY Change -8.06% -30.35% -36.69%
Total Short-Term Liabilities $3.152B $3.309B $3.197B
YoY Change -1.43% -4.57% -5.84%
LONG-TERM LIABILITIES
Long-Term Debt $6.521B $4.313B $4.319B
YoY Change 51.0% -9.92% -11.18%
Other Long-Term Liabilities $438.5M $531.2M $526.1M
YoY Change -16.65% 55.7% 56.14%
Total Long-Term Liabilities $6.959B $4.844B $4.845B
YoY Change 43.65% -5.55% -6.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.152B $3.309B $3.197B
Total Long-Term Liabilities $6.959B $4.844B $4.845B
Total Liabilities $11.61B $9.318B $9.455B
YoY Change 22.78% -8.65% -7.51%
SHAREHOLDERS EQUITY
Retained Earnings $11.63B $11.63B
YoY Change 4.52% 6.36%
Common Stock $552.6M $593.6M $587.1M
YoY Change -5.88% -4.18% -7.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.309B $4.619B $4.590B
YoY Change 15.66% 5.02% 4.82%
Treasury Stock Shares 52.57M shares 48.70M shares 48.63M shares
Shareholders Equity $5.962B $6.101B $5.860B
YoY Change
Total Liabilities & Shareholders Equity $17.58B $15.43B $15.32B
YoY Change 14.73% -1.95% -1.1%

Cashflow Statement

Concept 2019 Q2 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $413.7M $375.7M $353.3M
YoY Change 17.1% 31.65% 20.44%
Depreciation, Depletion And Amortization $105.4M $57.79M $114.8M
YoY Change -8.19% -3.61% -3.29%
Cash From Operating Activities $637.5M $159.4M $695.5M
YoY Change -8.34% -33.03% 36.03%
INVESTING ACTIVITIES
Capital Expenditures -$50.00M $42.11M -$53.40M
YoY Change -6.37% -46.93% -8.72%
Acquisitions $2.042M
YoY Change
Other Investing Activities -$52.40M -$2.318M $256.4M
YoY Change -120.44% -68.37% 7022.22%
Cash From Investing Activities -$102.4M -$15.06M $203.1M
YoY Change -150.42% -87.16% -470.62%
FINANCING ACTIVITIES
Cash Dividend Paid $100.9M
YoY Change 14.49%
Common Stock Issuance & Retirement, Net $65.35M
YoY Change -16.97%
Debt Paid & Issued, Net $100.1M
YoY Change 1434.91%
Cash From Financing Activities 1.593B -$7.247M -1.147B
YoY Change -238.9% -94.65% 197.17%
NET CHANGE
Cash From Operating Activities 637.5M $159.4M 695.5M
Cash From Investing Activities -102.4M -$15.06M 203.1M
Cash From Financing Activities 1.593B -$7.247M -1.147B
Net Change In Cash 2.128B $130.0M -247.9M
YoY Change -958.25% -982.69% -450.64%
FREE CASH FLOW
Cash From Operating Activities $637.5M $159.4M $695.5M
Capital Expenditures -$50.00M $42.11M -$53.40M
Free Cash Flow $687.5M $117.3M $748.9M
YoY Change -8.2% -26.08% 31.43%

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CY2019 us-gaap Nature Of Operations
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<div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;font-weight:bold;">-</span><span style="font-family:inherit;font-size:10pt;"> The Company is a leading worldwide diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company evaluates performance based on segment operating income before corporate administrative expenses, interest expense and income taxes.</span></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. Diversified Industrial Segment products are marketed primarily through field sales employees and independent distributors. The Diversified Industrial North American operations have manufacturing plants and distribution networks throughout the United States, Canada and Mexico and primarily service North America. The Diversified Industrial International operations provide Parker products and services to </span><span style="font-family:inherit;font-size:10pt;"><span>47</span></span><span style="font-family:inherit;font-size:10pt;"> countries throughout Europe, Asia Pacific, Latin America, the Middle East and Africa.</span></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on virtually every domestic commercial, military and general aviation aircraft and also performs a vital role in naval vessels and land-based weapons systems. This segment serves original equipment and maintenance, repair and overhaul customers worldwide. Aerospace Systems Segment products are marketed by field sales employees and are sold directly to manufacturers and end users.</span></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There are </span><span style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">no</span><span style="font-family:inherit;font-size:10pt;"> individual customers to whom sales are more than </span><span style="font-family:inherit;font-size:10pt;"><span>three</span></span><span style="font-family:inherit;font-size:10pt;"> percent of the Company's consolidated sales. Due to the diverse group of customers throughout the world, the Company does not consider itself exposed to any concentration of credit risks.</span></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company manufactures and markets its products throughout the world. Although certain risks and uncertainties exist, the diversity and breadth of the Company's products and geographic operations mitigate the risk that adverse changes with respect to any particular product and geographic operation would materially affect the Company's operating results.</span></div>
CY2019Q2 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
162989000 USD
CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
9672000 USD
CY2018Q2 ph Nontradeandnotesreceivable
Nontradeandnotesreceivable
328399000 USD
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates -</span><span style="font-family:inherit;font-size:10pt;"> The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
8874000 USD
CY2019Q2 ph Notes Receivable Current
NotesReceivableCurrent
147719000 USD
CY2018Q2 ph Notes Receivable Current
NotesReceivableCurrent
149254000 USD
CY2019Q2 ph Nontradeandnotesreceivable
Nontradeandnotesreceivable
310708000 USD
CY2018Q2 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
179145000 USD
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
93239000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
50473000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
42352000 USD
CY2019Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
281040000 USD
CY2018Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
289686000 USD
CY2019Q2 ph Buildings And Building Equipment
BuildingsAndBuildingEquipment
1567130000 USD
CY2018Q2 ph Buildings And Building Equipment
BuildingsAndBuildingEquipment
1578701000 USD
CY2019Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3223585000 USD
CY2018Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3218639000 USD
CY2019Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
114975000 USD
CY2018Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
128227000 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5186730000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5215253000 USD
CY2019Q2 us-gaap Equity Method Investments
EquityMethodInvestments
316728000 USD
CY2018Q2 us-gaap Equity Method Investments
EquityMethodInvestments
304389000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
1301000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-5888000 USD
CY2018 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-7284000 USD
CY2017 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-8060000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14320324000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
22726000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
24027000 USD
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
64668000 USD
CY2019Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
421000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
37000000 USD
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
65089000 USD
CY2019Q2 ph Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
-41062000 USD
CY2019 ph Contract With Customer Asset Liability Net Increase Decrease
ContractWithCustomerAssetLiabilityNetIncreaseDecrease
3000000 USD
CY2018Q3 ph Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
-38000000 USD
CY2018Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
236418000 USD
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4220000000 USD
CY2019Q2 ph Revenue Remaining Performance Obligation Percentage Recognized Within Next Twelve Months
RevenueRemainingPerformanceObligationPercentageRecognizedWithinNextTwelveMonths
0.90
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
11630756000 USD
CY2019 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
17146000 USD
CY2017 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
3 acquisition
CY2017 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
3 acquisition
CY2018Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2145506000 USD
CY2018Q3 us-gaap Inventory Net
InventoryNet
1644509000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
149461000 USD
CY2018Q3 us-gaap Investments And Other Noncurrent Assets
InvestmentsAndOtherNoncurrentAssets
803069000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
530621000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
531249000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
263616000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
302422000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
18342000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
4658000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
376826000 USD
CY2017Q2 ph Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedintangibleandotherassets
Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedintangibleandotherassets
1526909000 USD
CY2017Q2 ph Business Combination Initial Goodwill Allocation
BusinessCombinationInitialGoodwillAllocation
2677489000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
5170262000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
20162000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
84753000 USD
CY2017Q2 ph Business Acquisition Purchase Price Allocation Current Liabilities Employee Related Liabilities
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesEmployeeRelatedLiabilities
45942000 USD
CY2017Q2 ph Business Acquisition Purchase Price Allocation Current Liabilities Accrued Income Taxes
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccruedIncomeTaxes
5435000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
80515000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
296240000 USD
CY2017Q2 ph Business Acquisition Purchase Price Allocation Pensions And Other Postretirement Benefits
BusinessAcquisitionPurchasePriceAllocationPensionsAndOtherPostretirementBenefits
33929000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities
520389000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
11878000 USD
CY2017Q2 us-gaap Business Combination Acquisition Of Less Than100 Percent Noncontrolling Interest Fair Value
BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue
1822000 USD
CY2017Q2 ph Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedliabilitieslessnoncontrollinginterest
Businesscombinationrecognizedidentifiableassetsacquiredandliabilitiesassumedliabilitieslessnoncontrollinginterest
1101065000 USD
CY2017Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
4069197000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1124933000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
963843000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
722925000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
808492000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
738434000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
605716000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1933425000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1702277000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1328641000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
20932000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
160858000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
453821000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
132420000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
14903000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-23876000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
37316000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
206167000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
210385000 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
157518000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
3202000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-17454000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-5319000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18168000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
17835000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
14432000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-82000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
5027000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
420494000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
640962000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
344797000 USD
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.281
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.017
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.017
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.029
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.010
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.055
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Transition Tax On Accumulated Foreign Earnings Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017TransitionTaxOnAccumulatedForeignEarningsPercent
0.008
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Transition Tax On Accumulated Foreign Earnings Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017TransitionTaxOnAccumulatedForeignEarningsPercent
0.175
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.009
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.048
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLifeInsurance
-0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLifeInsurance
-0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLifeInsurance
-0.009
CY2019 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
-0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.010
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.009
CY2019 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.010
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.005
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.007
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.008
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.017
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.022
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.027
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.006
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.010
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.377
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.260
CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentIncomeTaxExpenseBenefit
14485000 USD
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
368269000 USD
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
340480000 USD
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
104850000 USD
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
112935000 USD
CY2019Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
22241000 USD
CY2018Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
17496000 USD
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
38730000 USD
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
38535000 USD
CY2019 ph Deferred Tax Assets Acquisitions And Other
DeferredTaxAssetsAcquisitionsAndOther
94638000 USD
CY2019Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
792914000 USD
CY2018Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
679880000 USD
CY2019Q2 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
27034000 USD
CY2018Q2 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
27228000 USD
CY2019Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
5540000 USD
CY2018Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
6696000 USD
CY2019Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
1726000 USD
CY2019Q2 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
16762000 USD
CY2018Q2 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
16308000 USD
CY2019Q2 ph Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
589454000 USD
CY2018Q2 ph Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
689320000 USD
CY2019Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
797692000 USD
CY2018Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
694857000 USD
CY2019Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
42604000 USD
CY2018Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
177235000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
32537000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-41412000 USD
CY2019 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-72530000 USD
CY2018 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
65542000 USD
CY2018 ph Deferred Tax Assets Acquisitions And Other
DeferredTaxAssetsAcquisitionsAndOther
32628000 USD
CY2019 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
134631000 USD
CY2018 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
8498000 USD
CY2019Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
792914000 USD
CY2019Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3057386000 USD
CY2019Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
779733000 USD
CY2019Q2 ph Non Operating Entity Valuation Allowance
NonOperatingEntityValuationAllowance
745293000 USD
CY2019 ph Operating Loss Carryforward Maximum Period Before Expiration
OperatingLossCarryforwardMaximumPeriodBeforeExpiration
P20Y
CY2019Q2 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
17959000 USD
CY2019Q2 ph Undistributed Foreign Earnings Deemed Repatriated
UndistributedForeignEarningsDeemedRepatriated
219000000 USD
CY2019Q2 ph Deferred Tax Liabilities Undistributed Foreign Earnings Deemed Repatriated
DeferredTaxLiabilitiesUndistributedForeignEarningsDeemedRepatriated
11000000 USD
CY2019Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
3000000000 USD
CY2019Q2 ph Deferred Tax Liabilities Undistributed Foreign Earnings Not Permanently Reinvested In Subsidiaries
DeferredTaxLiabilitiesUndistributedForeignEarningsNotPermanentlyReinvestedInSubsidiaries
6000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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9388000 USD
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168.23
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172.59
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336675000 USD
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44484000 USD
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<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</span></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is involved in various litigation matters arising in the normal course of business, including proceedings based on product liability claims, workers' compensation claims and alleged violations of various environmental laws. The Company is self-insured in the United States for health care, workers' compensation, general liability and product liability up to predetermined amounts, above which third party insurance applies. Management regularly reviews the probable outcome of these proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage and the established accruals for liabilities. While the outcome of pending proceedings cannot be predicted with certainty, management believes that any liabilities that may result from these proceedings will not have a material adverse effect on the Company's liquidity, financial condition or results of operations.</span></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Environmental -</span><span style="font-family:inherit;font-size:10pt;"> The Company is currently responsible for environmental remediation at various manufacturing facilities presently or formerly operated by the Company and has been named as a “potentially responsible party,” along with other companies, at off-site waste disposal facilities and</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">regional sites. </span></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, the Company had an accrual of </span><span style="font-family:inherit;font-size:10pt;"><span>$16,070</span></span><span style="font-family:inherit;font-size:10pt;"> for environmental matters, which are probable and reasonably estimable. The accrual is recorded based upon the best estimate of costs to be incurred in light of the progress made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities and the amount of the Company's liability in proportion to other responsible parties. </span></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company's estimated total liability for environmental matters ranges from a minimum of </span><span style="font-family:inherit;font-size:10pt;"><span>$16.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> to a maximum of </span><span style="font-family:inherit;font-size:10pt;"><span>$80.1 million</span></span><span style="font-family:inherit;font-size:10pt;">. The largest range for any one site is approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$8.2 million</span></span><span style="font-family:inherit;font-size:10pt;">. The actual costs to be incurred by the Company will be dependent on final determination of contamination and required remedial action, negotiations with governmental authorities with respect to cleanup levels, changes in regulatory requirements, innovations in investigatory and remedial technologies, effectiveness of remedial technologies employed, the ability of other responsible parties to pay, and any insurance or other third-party recoveries.</span></div>
CY2019Q2 us-gaap Accrual For Environmental Loss Contingencies
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16070000 USD
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3479294000 USD
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14320324000 USD
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2.79
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EarningsPerShareDiluted
2.36
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.14
CY2019Q2 us-gaap Earnings Per Share Diluted
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3.17
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.48
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3364651000 USD
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NetIncomeLoss
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353256000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
1060801000 USD
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2.10
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EarningsPerShareDiluted
0.41
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EarningsPerShareDiluted
2.70
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.62
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.83

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