2017 Form 10-K Financial Statement

#000157791617000018 Filed on August 23, 2017

View on sec.gov

Income Statement

Concept 2017 2016 Q2 2016 Q1
Revenue $1.455B $301.4M $298.7M
YoY Change 25.12% 13.08% 14.12%
Cost Of Revenue $308.7M $123.2M $112.1M
YoY Change -32.46% 12.51% 9.02%
Gross Profit $757.5M $178.2M $186.6M
YoY Change 7.37% 13.48% 17.41%
Gross Profit Margin 52.08% 59.11% 62.47%
Selling, General & Admin $395.8M $115.5M $101.9M
YoY Change -3.1% 30.36% 17.33%
% of Gross Profit 52.25% 64.82% 54.61%
Research & Development $3.107M $900.0K $1.180M
YoY Change 6.22% 50.0% 97.99%
% of Gross Profit 0.41% 0.51% 0.63%
Depreciation & Amortization $104.0M $23.00M $21.85M
YoY Change 23.58% 57.53% 55.06%
% of Gross Profit 13.73% 12.91% 11.71%
Operating Expenses $445.0M $125.4M $111.8M
YoY Change 0.14% 36.75% 24.25%
Operating Profit $318.0M $52.78M $74.76M
YoY Change 19.56% -19.19% 8.48%
Interest Expense $10.20M $5.600M $6.300M
YoY Change -50.49% -17.65% 43.18%
% of Operating Profit 3.21% 10.61% 8.43%
Other Income/Expense, Net $213.6M $2.100M $6.342M
YoY Change 1027.98% -114.0% 23.29%
Pretax Income $531.5M $58.80M $81.10M
YoY Change 86.58% 4.44% 9.51%
Income Tax $81.92M $8.500M $9.543M
% Of Pretax Income 15.41% 14.46% 11.77%
Net Earnings $76.25M $50.36M $299.9M
YoY Change -67.58% 530.24% 2356.78%
Net Earnings / Revenue 5.24% 16.71% 100.43%
Basic Earnings Per Share $1.54 $2.23 $6.71
Diluted Earnings Per Share $1.51 $0.30 $0.43
COMMON SHARES
Basic Shares Outstanding 49.65M shares 45.51M shares 44.72M shares
Diluted Shares Outstanding 50.37M shares 144.6M shares 145.0M shares

Balance Sheet

Concept 2017 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.7M $266.6M $265.6M
YoY Change -41.22% -31.15% -23.77%
Cash & Equivalents $156.7M $248.8M $238.4M
Short-Term Investments $0.00 $17.80M $27.20M
Other Short-Term Assets $35.20M $19.60M $25.00M
YoY Change 79.59% -12.5% -44.57%
Inventory $50.40M $29.12M $29.31M
Prepaid Expenses
Receivables $159.7M $144.4M $129.0M
Other Receivables $6.800M $3.300M $4.400M
Total Short-Term Assets $408.8M $462.9M $453.3M
YoY Change -11.69% -15.09% -13.7%
LONG-TERM ASSETS
Property, Plant & Equipment $187.4M $174.1M $165.7M
YoY Change 7.64% 17.92% 8.34%
Goodwill $538.0M $537.9M
YoY Change 149.47% 151.53%
Intangibles $158.2M $167.2M
YoY Change 309.16% 305.77%
Long-Term Investments $92.90M $16.80M $39.50M
YoY Change 98.08% -91.11% -74.5%
Other Assets $534.3M $12.49M $28.86M
YoY Change 12.41% -27.12% -38.31%
Total Long-Term Assets $2.099B $1.392B $1.402B
YoY Change 50.74% 41.37% 45.51%
TOTAL ASSETS
Total Short-Term Assets $408.8M $462.9M $453.3M
Total Long-Term Assets $2.099B $1.392B $1.402B
Total Assets $2.508B $1.855B $1.855B
YoY Change 35.16% 21.25% 24.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.80M $46.00M $26.37M
YoY Change -6.96% 22.24% -13.6%
Accrued Expenses $109.4M $56.77M $68.31M
YoY Change -6.66% 37.6% 66.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $228.0M $5.484M $4.731M
YoY Change 4045.45% 143.09% 7.52%
Total Short-Term Liabilities $571.6M $326.1M $299.1M
YoY Change 75.28% 20.93% 21.35%
LONG-TERM LIABILITIES
Long-Term Debt $6.300M $13.86M $64.24M
YoY Change -54.68% -11.61% 301.52%
Other Long-Term Liabilities $405.4M $23.98M $24.14M
YoY Change 22.96% 14.65% 435.69%
Total Long-Term Liabilities $411.7M $37.84M $88.38M
YoY Change 19.82% 3.4% 1861.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $571.6M $326.1M $299.1M
Total Long-Term Liabilities $411.7M $37.84M $88.38M
Total Liabilities $1.032B $669.6M $704.7M
YoY Change 54.05% 17.79% 27.52%
SHAREHOLDERS EQUITY
Retained Earnings -$1.952B -$2.068B
YoY Change -37.41% -32.4%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.476B $1.186B $1.150B
YoY Change
Total Liabilities & Shareholders Equity $2.508B $1.855B $1.855B
YoY Change 35.16% 21.25% 24.62%

Cashflow Statement

Concept 2017 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $76.25M $50.36M $299.9M
YoY Change -67.58% 530.24% 2356.78%
Depreciation, Depletion And Amortization $104.0M $23.00M $21.85M
YoY Change 23.58% 57.53% 55.06%
Cash From Operating Activities $392.2M $100.6M $136.2M
YoY Change 5.59% -7.28% 33.66%
INVESTING ACTIVITIES
Capital Expenditures $71.37M -$22.30M $15.80M
YoY Change -7.3% 13.78% -15.28%
Acquisitions $0.00
YoY Change
Other Investing Activities -$25.00K $23.80M $31.40M
YoY Change -192.59% -137.78% -259.39%
Cash From Investing Activities -$465.1M $1.500M $15.60M
YoY Change 191.32% -101.81% -140.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $123.3M
YoY Change
Debt Paid & Issued, Net $5.486M
YoY Change 156.0%
Cash From Financing Activities -$19.28M -91.60M -70.70M
YoY Change -82.4% 163.22% 88.53%
NET CHANGE
Cash From Operating Activities $392.2M 100.6M 136.2M
Cash From Investing Activities -$465.1M 1.500M 15.60M
Cash From Financing Activities -$19.28M -91.60M -70.70M
Net Change In Cash -$92.08M 10.50M 81.10M
YoY Change -190.02% -216.67% 211.92%
FREE CASH FLOW
Cash From Operating Activities $392.2M $100.6M $136.2M
Capital Expenditures $71.37M -$22.30M $15.80M
Free Cash Flow $320.9M $122.9M $120.4M
YoY Change 8.96% -4.06% 44.63%

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774625000 USD
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271127000 USD
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284882000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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531291000 USD
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21285000 USD
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21647000 USD
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36342000 USD
CY2016 us-gaap Income Tax Expense Benefit
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49721000 USD
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81814000 USD
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0 USD
CY2016 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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8080000 USD
CY2017 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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9950000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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28210000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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36279000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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26829000 USD
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6323000 USD
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7497000 USD
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-18660000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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94895000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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99709000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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185952000 USD
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670000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
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-1940000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
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-3021000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1961000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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664000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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9823000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2160000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1562000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2239000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Exempt Income
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82751000 USD
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85063000 USD
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85142000 USD
CY2016 us-gaap Income Taxes Paid
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24900000 USD
CY2017 us-gaap Income Taxes Paid
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26100000 USD
CY2015 us-gaap Increase Decrease In Inventories
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12235000 USD
CY2016 us-gaap Increase Decrease In Inventories
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-3937000 USD
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16349000 USD
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2791000 USD
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-901000 USD
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1736000 USD
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9638000 USD
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200000 USD
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377962000 USD
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5200000 USD
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4500000 USD
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29121000 USD
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50426000 USD
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866000 USD
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-1021000 USD
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-4512000 USD
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11400000 USD
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10100000 USD
CY2017 us-gaap Lease And Rental Expense
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9500000 USD
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669614000 USD
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1031506000 USD
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1855383000 USD
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2507836000 USD
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326063000 USD
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571587000 USD
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0.68
CY2017 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
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0.63
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19342000 USD
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5484000 USD
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227993000 USD
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13858000 USD
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6279000 USD
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13900000 USD
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6300000 USD
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17759000 USD
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0 USD
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30130000 USD
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0 USD
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-48000 USD
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-38000 USD
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43000 USD
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14518000 USD
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1890000 USD
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364058000 USD
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371470000 USD
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392247000 USD
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235161000 USD
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76249000 USD
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196042000 USD
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193547000 USD
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336052000 USD
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1836000 USD
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0 USD
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0 USD
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471154000 USD
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101645000 USD
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70302000 USD
CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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400275000 USD
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193664000 USD
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76249000 USD
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76249000 USD
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194206000 USD
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47900000 USD
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49817000 USD
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56018000 USD
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39812000 USD
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193547000 USD
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49601000 USD
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181173000 USD
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51433000 USD
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53845000 USD
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336052000 USD
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18934000 USD
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213571000 USD
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19300000 USD
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5500000 USD
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344077000 USD
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439590000 USD
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CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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10710000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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39970000 USD
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300000 USD
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OtherAmortizationOfDeferredCharges
500000 USD
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OtherAmortizationOfDeferredCharges
500000 USD
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10895000 USD
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4565000 USD
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OtherAssetsNoncurrent
12490000 USD
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10271000 USD
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128000 USD
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2871000 USD
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32019000 USD
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23978000 USD
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42099000 USD
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0 USD
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OtherNonoperatingExpense
0 USD
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OtherNonoperatingExpense
584000 USD
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2511000 USD
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1067000 USD
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2989000 USD
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614000 USD
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0 USD
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27000 USD
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0 USD
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0 USD
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123331000 USD
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135000 USD
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7863000 USD
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17717000 USD
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92212000 USD
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92707000 USD
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90434000 USD
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14518000 USD
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0 USD
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0 USD
CY2015 us-gaap Payments To Acquire Available For Sale Securities
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395302000 USD
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19211000 USD
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PaymentsToAcquireAvailableForSaleSecurities
0 USD
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PaymentsToAcquireInterestInSubsidiariesAndAffiliates
5000000 USD
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3250000 USD
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65660000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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70734000 USD
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76990000 USD
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71372000 USD
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0 USD
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1890000 USD
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0 USD
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19646000 USD
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35164000 USD
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10000000 USD
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18900000 USD
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22093000 USD
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6550000 USD
CY2015 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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0 USD
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2317000 USD
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2483000 USD
CY2015 us-gaap Proceeds From Lines Of Credit
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1007000 USD
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0 USD
CY2017 us-gaap Proceeds From Lines Of Credit
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0 USD
CY2015 us-gaap Proceeds From Sale Of Available For Sale Securities
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385788000 USD
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386372000 USD
CY2017 us-gaap Proceeds From Sale Of Available For Sale Securities
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48013000 USD
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1508000 USD
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3552000 USD
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9168000 USD
CY2015 us-gaap Proceeds From Unsecured Lines Of Credit
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0 USD
CY2016 us-gaap Proceeds From Unsecured Lines Of Credit
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150000000 USD
CY2017 us-gaap Proceeds From Unsecured Lines Of Credit
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425000000 USD
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234785000 USD
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52253000 USD
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60995000 USD
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71557000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
50356000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
235161000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
58095000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
246184000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
71338000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
73860000 USD
CY2017 us-gaap Profit Loss
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449477000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
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439831000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
423825000 USD
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174080000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
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187365000 USD
CY2015 us-gaap Repayments Of Lines Of Credit
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14715000 USD
CY2016 us-gaap Repayments Of Lines Of Credit
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0 USD
CY2017 us-gaap Repayments Of Lines Of Credit
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0 USD
CY2015 us-gaap Repayments Of Long Term Debt
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1403000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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2143000 USD
CY2017 us-gaap Repayments Of Long Term Debt
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5486000 USD
CY2015 us-gaap Repayments Of Long Term Lines Of Credit
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0 USD
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
150000000 USD
CY2017 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
205000000 USD
CY2015 us-gaap Research And Development Expense
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2937000 USD
CY2016 us-gaap Research And Development Expense
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2925000 USD
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3107000 USD
CY2015 us-gaap Restructuring Charges
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1373000 USD
CY2016 us-gaap Restructuring Charges
RestructuringCharges
268000 USD
CY2017 us-gaap Restructuring Charges
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31000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1951878000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1662772000 USD
CY2015 us-gaap Sales Revenue Goods Net
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279261000 USD
CY2016 us-gaap Sales Revenue Goods Net
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326646000 USD
CY2017 us-gaap Sales Revenue Goods Net
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534118000 USD
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
1007029000 USD
CY2015Q3 us-gaap Sales Revenue Net
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270835000 USD
CY2015Q4 us-gaap Sales Revenue Net
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291669000 USD
CY2016Q1 us-gaap Sales Revenue Net
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298669000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
301421000 USD
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
1162594000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
313272000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
358500000 USD
CY2017Q1 us-gaap Sales Revenue Net
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379803000 USD
CY2017Q2 us-gaap Sales Revenue Net
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403098000 USD
CY2017 us-gaap Sales Revenue Net
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1454673000 USD
CY2015 us-gaap Sales Revenue Services Gross
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270748000 USD
CY2016 us-gaap Sales Revenue Services Gross
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337554000 USD
CY2017 us-gaap Sales Revenue Services Gross
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363087000 USD
CY2015 us-gaap Sales Revenue Services Net
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727768000 USD
CY2016 us-gaap Sales Revenue Services Net
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835948000 USD
CY2017 us-gaap Sales Revenue Services Net
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920555000 USD
CY2015 us-gaap Selling General And Administrative Expense
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332004000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
403611000 USD
CY2017 us-gaap Selling General And Administrative Expense
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405471000 USD
CY2015 us-gaap Share Based Compensation
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28498000 USD
CY2016 us-gaap Share Based Compensation
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48670000 USD
CY2017 us-gaap Share Based Compensation
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26470000 USD
CY2015 us-gaap Stock Issued During Period Value Conversion Of Units
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175115000 USD
CY2016 us-gaap Stock Issued During Period Value Conversion Of Units
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267681000 USD
CY2017 us-gaap Stock Issued During Period Value Conversion Of Units
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157371000 USD
CY2016 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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2729000 USD
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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2483000 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
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1508000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
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3557000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
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9168000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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-2470311000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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-3118102000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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-1951461000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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-1662253000 USD
CY2015 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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904035000 USD
CY2015Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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-466801000 USD
CY2015Q4 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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65561000 USD
CY2016Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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-284409000 USD
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-91101000 USD
CY2016 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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-776750000 USD
CY2016Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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-61808000 USD
CY2016Q4 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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-335264000 USD
CY2017Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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100506000 USD
CY2017Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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333742000 USD
CY2017 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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37176000 USD
CY2016Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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3137230000 USD
CY2017Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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3138583000 USD
CY2014Q2 us-gaap Unrecognized Tax Benefits
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1438000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
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3436000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
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4381000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
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5043000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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201000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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870000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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400000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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300000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1038000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1549000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1453000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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1185000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
318000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
101000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
225000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
721000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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22000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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3200000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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3400000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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4100000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
26800000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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145560000 shares
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41575000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145018000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144621000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145308000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142962000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141308000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50525000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51470000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50374000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35681000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37735000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41575000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44716000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45506000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42368000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47214000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49445000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50525000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51470000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49654000 shares
CY2017 us-gaap Incentive Distribution Policy Managing Member Or General Partner Description
IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Distributions to Limited Partners under the LP Agreement</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Premier LP makes quarterly distributions to Premier, Inc. as the general partner and to the limited partners in the form of a legal partnership income distribution governed by the terms of the LP Agreement.&#160;The general partner distribution is based on the general partner's ownership in Premier LP. The limited partner distributions are based on the limited partners' ownership in Premier LP and relative participation across Premier service offerings. While the limited partner distributions are partially based on relative participation across Premier service offerings, the actual distribution is not solely based on revenue generated from an individual partner's participation as distributions are based on the net income or loss of the partnership which encompass the operating expenses of the partnership as well as income or loss generated by non-owner members' participation in Premier's service offerings.&#160;To the extent Premier LP incurred a net loss, the partners would not receive a quarterly distribution.</font></div></div>
CY2017 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Net Revenue</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Net revenue consists of (i)&#160;service revenue which includes net administrative fees revenue and other services and support revenue and (ii)&#160;product revenue. Net administrative fees revenue consists of net GPO administrative fees in the Supply Chain Services segment. Other services and support revenue consists primarily of fees generated by the Performance Services segment in connection with the Company's SaaS informatics products subscriptions, advisory services and performance improvement collaborative subscriptions. Product revenue consists of integrated pharmacy and direct sourcing product sales, which are included in the Supply Chain Services segment. The Company recognizes revenue when (i)&#160;there is persuasive evidence of an arrangement, (ii)&#160;the fee is fixed or determinable, (iii)&#160;services have been rendered and payment has been contractually earned, and (iv)&#160;collectibility is reasonably assured.</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Net Administrative Fees Revenue</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Net administrative fees revenue is generated through administrative fees received from suppliers based on the total dollar volume of supplies purchased by the Company's members in connection with its GPO programs.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">The Company, through its GPO programs, aggregates member purchasing power to negotiate pricing discounts and improve contract terms with suppliers. Contracted suppliers pay the Company administrative fees which generally represent </font><font style="font-family:Times New Roman;font-size:10pt;">1%</font><font style="font-family:Times New Roman;font-size:10pt;"> to </font><font style="font-family:Times New Roman;font-size:10pt;">3%</font><font style="font-family:Times New Roman;font-size:10pt;"> of the purchase price of goods and services sold to members under the contracts the Company has negotiated. Administrative fees are recognized as revenue in the period in which the respective supplier reports member purchasing data, usually a month or a quarter in arrears of actual member purchase activity. The supplier report proves that the delivery of product or service has occurred, the administrative fees are fixed and determinable based on reported purchasing volume, and collectibility is reasonably assured. Member and supplier contracts substantiate persuasive evidence of an arrangement. The Company does not take title to the underlying equipment or products purchased by members through its GPO supplier contracts.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">The Company pays a revenue share equal to a percentage of gross administrative fees that the Company collects based upon purchasing by such members and their owned, leased, managed or affiliated facilities through its GPO supplier contracts. Revenue share is recognized according to the members' contractual agreements with the Company as the related administrative fees revenue is recognized. Considering GAAP relating to principal/agent considerations under revenue recognition principles, revenue share is recorded as a reduction to gross administrative fees revenue to arrive at a net administrative fees revenue amount, which amount is included in service revenue in the accompanying Consolidated Statements of Income.</font></div></div>
CY2017 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Revenue</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Deferred revenue consists of unrecognized revenue related to advanced member invoicing or member payments received prior to fulfillment of the Company's revenue recognition criteria. Substantially all deferred revenue consists of deferred subscription fees and deferred advisory fees. Subscription fees for company-hosted SaaS applications are deferred until the member's unique data records have been incorporated into the underlying software database, or until member site-specific software has been implemented and the member has access to the software. Deferred advisory fees arise when cash is received from members prior to delivery of service. When the fees are contingent upon meeting a performance target that has not yet been achieved, the advisory fees are deferred until the performance target is met.</font></div></div>
CY2017 us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Multiple Deliverable Arrangements</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">The Company enters into agreements where the individual deliverables discussed above, such as SaaS subscriptions and advisory services, are bundled into a single service arrangement. These agreements are generally provided over a time period ranging from approximately </font><font style="font-family:Times New Roman;font-size:10pt;">three months</font><font style="font-family:Times New Roman;font-size:10pt;"> to </font><font style="font-family:Times New Roman;font-size:10pt;">five years</font><font style="font-family:Times New Roman;font-size:10pt;"> after the applicable contract execution date. Revenue is allocated to the individual elements within the arrangement based on their relative selling price using vendor specific objective evidence ("VSOE"), third-party evidence ("TPE") or the estimated selling price ("ESP"), provided that the total arrangement consideration is fixed and determinable at the inception of the arrangement. The Company establishes VSOE, TPE, or ESP for each element of a service arrangement based on the price charged for a particular element when it is sold separately in a stand-alone arrangement. All deliverables which are fixed and determinable are recognized according to the revenue recognition methodology described above.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Certain arrangements include performance targets or other contingent fees that are not fixed and determinable at the inception of the arrangement. If the total arrangement consideration is not fixed and determinable at the inception of the arrangement, the Company allocates only that portion of the arrangement that is fixed and determinable to each element. As additional consideration becomes fixed, it is similarly allocated based on VSOE, TPE or ESP to each element in the arrangement and recognized in accordance with each element's revenue recognition policy.</font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Product Revenue</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Specialty pharmacy revenue is recognized when a product is accepted and is recorded net of the estimated contractual adjustments under agreements with Medicare, Medicaid and other managed care plans. Payments for the products provided under such agreements are based on defined allowable reimbursements rather than on the basis of standard billing rates. The difference between the standard billing rate and allowable reimbursement rate results in contractual adjustments which are recorded as deductions from net revenue.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Direct sourcing revenue is recognized once the title and risk of loss of medical products have been transferred to members.</font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Other Services and Support Revenue</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Performance Services revenue consists of SaaS informatics products subscriptions, certain perpetual and term licenses, performance improvement collaborative and other service subscriptions, professional fees for advisory services, and insurance services management fees and commissions from group-sponsored insurance programs.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">SaaS informatics subscriptions include the right to use the Company's proprietary hosted technology on a SaaS basis, training and member support to deliver improvements in cost management, quality and safety, population health management and provider analytics. Pricing varies by application and size of healthcare system. Informatics subscriptions are generally </font><font style="font-family:Times New Roman;font-size:10pt;">three</font><font style="font-family:Times New Roman;font-size:10pt;"> to </font><font style="font-family:Times New Roman;font-size:10pt;">five</font><font style="font-family:Times New Roman;font-size:10pt;"> year agreements with automatic renewal clauses and annual price escalators that typically do not allow for early termination. These agreements do not allow for physical possession of the software. Subscription fees are typically billed on a monthly basis and revenue is recognized as a single deliverable on a straight-line basis over the remaining contractual period following implementation. Implementation involves the completion of data preparation services that are unique to each member's data set and, in certain cases, the installation of member site-specific software, in order to access and transfer member data into the Company's hosted SaaS informatics products. Implementation is generally </font><font style="font-family:Times New Roman;font-size:10pt;">60</font><font style="font-family:Times New Roman;font-size:10pt;"> to </font><font style="font-family:Times New Roman;font-size:10pt;">300 days</font><font style="font-family:Times New Roman;font-size:10pt;">&#160;following contract execution before the SaaS informatics products can be fully utilized by the member.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">The Company sells certain perpetual and term licenses that include mandatory post-contract customer support in the form of maintenance and support services. Pricing varies by application and size of healthcare system. Fees for the initial period include the license fees, implementation fees and the initial bundled maintenance and support services fees. The fees for the initial period are recognized straight-line over the remaining initial period following implementation. Subsequent renewal maintenance and support services fees are recognized on a straight-line basis over the contractually stated renewal periods. Implementation services are provided to the customer prior to the use of the software and do not involve significant customization or modification. Implementation is generally </font><font style="font-family:Times New Roman;font-size:10pt;">250</font><font style="font-family:Times New Roman;font-size:10pt;"> to </font><font style="font-family:Times New Roman;font-size:10pt;">300 days</font><font style="font-family:Times New Roman;font-size:10pt;"> following contract execution before the licensed software products can be fully utilized by the member.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Revenue from performance improvement collaboratives and other service subscriptions that support the Company's offerings in cost management, quality and safety and population health management is recognized over the service period, which is generally </font><font style="font-family:Times New Roman;font-size:10pt;">one</font><font style="font-family:Times New Roman;font-size:10pt;"> year.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Professional fees for advisory services are sold under contracts, the terms of which vary based on the nature of the engagement. Fees are billed as stipulated in the contract, and revenue is recognized on a proportional performance method as services are performed and deliverables are provided. In situations where the contracts have significant contract performance guarantees or member acceptance provisions, revenue recognition occurs when the fees are fixed and determinable and all contingencies, including any refund rights, have been satisfied.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Insurance services management fees are recognized in the period in which such services are provided. Commissions from group sponsored insurance programs are recognized over the term of the insurance policies, generally </font><font style="font-family:Times New Roman;font-size:10pt;">one</font><font style="font-family:Times New Roman;font-size:10pt;"> year.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">Certain administrative and/or patient management integrated pharmacy services are provided in situations where prescriptions are sent back to member health systems for dispensing. Additionally, the Company derives revenue from pharmaceutical manufacturers for providing patient education and utilization data. Revenue is recognized as these services are provided.</font></div></div>
CY2017 us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;">Performance Guarantees</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">On limited occasions, the Company enters into agreements which provide for guaranteed performance levels to be achieved by the member over the term of the agreement. In situations with significant performance guarantees, the Company defers revenue recognition until the amount is fixed and determinable and all contingencies, including any refund rights, have been satisfied. In the event that guaranteed savings levels are not achieved, the Company may have to perform additional services at no additional charge in order to achieve the guaranteed savings or pay the difference between the savings that were guaranteed and the actual achieved savings.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Use of Estimates in the Preparation of Financial Statements</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;">The preparation of the Company's consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Significant estimates are evaluated on an ongoing basis, including estimates for allowances for doubtful accounts, useful lives of property and equipment, stock-based compensation, payables under TRAs, values of investments not publicly traded, the valuation allowance on deferred tax assets, uncertain income taxes, deferred revenue, future cash flows associated with asset impairments, values of put and call rights, values of earn-out liabilities and the allocation of purchase prices. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.</font></div></div>

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