2017 Q3 Form 10-K Financial Statement

#000153095018000238 Filed on November 16, 2018

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2017 Q1
Revenue $1.449B $1.272B $1.255B
YoY Change 14.89% 2.09% -1.24%
Cost Of Revenue $1.015B $878.4M $891.3M
YoY Change 14.86% 3.6% 3.42%
Gross Profit $437.1M $393.7M $364.1M
YoY Change 15.82% -1.13% -11.04%
Gross Profit Margin 30.18% 30.95% 29.0%
Selling, General & Admin $229.1M $164.2M $187.3M
YoY Change -0.87% -23.98% -8.9%
% of Gross Profit 52.41% 41.71% 51.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $90.20M $77.80M $78.00M
YoY Change 18.84% 2.77% 2.09%
% of Gross Profit 20.64% 19.76% 21.42%
Operating Expenses $271.8M $164.2M $187.3M
YoY Change 1.0% -23.98% -8.9%
Operating Profit $165.3M $190.5M $137.5M
YoY Change 52.63% 34.15% -15.38%
Interest Expense -$85.10M $76.50M $80.20M
YoY Change -2.96% -1.03% 3.89%
% of Operating Profit -51.48% 40.16% 58.33%
Other Income/Expense, Net -$4.900M -$45.20M $1.000M
YoY Change -27.8% -101.1%
Pretax Income $22.40M -$91.60M -$4.200M
YoY Change -134.04% -4461.9% -25.0%
Income Tax $14.40M -$32.20M -$2.100M
% Of Pretax Income 64.29%
Net Earnings $8.000M -$59.40M -$2.100M
YoY Change -121.62% -1900.0% -142.86%
Net Earnings / Revenue 0.55% -4.67% -0.17%
Basic Earnings Per Share $0.07 -$0.93 -$0.08
Diluted Earnings Per Share $0.07 -$0.93 -$0.08
COMMON SHARES
Basic Shares Outstanding 66.16M shares 67.50M shares 68.20M shares
Diluted Shares Outstanding 67.50M shares 68.20M shares

Balance Sheet

Concept 2017 Q3 2017 Q2 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.526B $2.473B $1.485B
YoY Change 33.39% 139.4% 71.08%
Cash & Equivalents $1.526B $2.473B $1.485B
Short-Term Investments
Other Short-Term Assets $36.00M $41.00M $43.00M
YoY Change -20.0% -24.07% -32.81%
Inventory $573.5M $526.6M $513.0M
Prepaid Expenses
Receivables $480.6M $480.3M $484.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.616B $3.520B $2.525B
YoY Change 25.95% 79.32% 39.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.691B $1.367B $1.346B
YoY Change 24.83% 2.02% 0.29%
Goodwill $4.032B $3.126B $3.126B
YoY Change 30.92% 1.44% 1.44%
Intangibles $3.354B $2.768B $2.807B
YoY Change 18.36% -3.65% -3.58%
Long-Term Investments $0.00
YoY Change
Other Assets $184.3M $22.80M $21.60M
YoY Change 1059.12% -60.76% -64.0%
Total Long-Term Assets $9.261B $7.284B $7.301B
YoY Change 27.15% -0.93% -1.27%
TOTAL ASSETS
Total Short-Term Assets $2.616B $3.520B $2.525B
Total Long-Term Assets $9.261B $7.284B $7.301B
Total Assets $11.88B $10.80B $9.826B
YoY Change 26.88% 15.98% 6.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $336.0M $214.8M $210.3M
YoY Change 27.08% -5.71% -6.24%
Accrued Expenses $135.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $22.10M $22.70M $4.500M
YoY Change 79.67% 42.77% -71.34%
Total Short-Term Liabilities $704.4M $547.3M $456.4M
YoY Change 11.1% -10.85% -18.0%
LONG-TERM LIABILITIES
Long-Term Debt $7.149B $6.369B $5.266B
YoY Change 57.08% 41.74% 17.07%
Other Long-Term Liabilities $327.8M $344.2M $301.0M
YoY Change -25.55% -20.18% -18.34%
Total Long-Term Liabilities $7.477B $6.713B $5.567B
YoY Change 49.79% 36.32% 14.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $704.4M $547.3M $456.4M
Total Long-Term Liabilities $7.477B $6.713B $5.567B
Total Liabilities $9.087B $8.053B $6.837B
YoY Change 43.06% 28.33% 10.32%
SHAREHOLDERS EQUITY
Retained Earnings -$376.0M -$390.2M -$330.7M
YoY Change -11.38% 0.75% -15.34%
Common Stock $700.0K $700.0K $700.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $371.2M $367.2M $186.5M
YoY Change 595.13% 587.64% 249.25%
Treasury Stock Shares 5.800M shares
Shareholders Equity $2.780B $2.751B $2.988B
YoY Change
Total Liabilities & Shareholders Equity $11.88B $10.80B $9.826B
YoY Change 26.88% 15.98% 6.75%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2017 Q1
OPERATING ACTIVITIES
Net Income $8.000M -$59.40M -$2.100M
YoY Change -121.62% -1900.0% -142.86%
Depreciation, Depletion And Amortization $90.20M $77.80M $78.00M
YoY Change 18.84% 2.77% 2.09%
Cash From Operating Activities $172.3M $236.1M -$2.300M
YoY Change 27.72% 37.99% -102.14%
INVESTING ACTIVITIES
Capital Expenditures -$65.40M -$61.10M -$32.10M
YoY Change 61.88% 68.32% 22.05%
Acquisitions
YoY Change
Other Investing Activities -$1.827B $500.0K $12.30M
YoY Change 37970.83% -93.24% 0.82%
Cash From Investing Activities -$1.893B -$60.60M -$19.80M
YoY Change 4087.61% 109.69% 40.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $180.7M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 771.1M 777.0M 637.6M
YoY Change 3554.5% 3293.01% -2291.07%
NET CHANGE
Cash From Operating Activities 172.3M 236.1M -2.300M
Cash From Investing Activities -1.893B -60.60M -19.80M
Cash From Financing Activities 771.1M 777.0M 637.6M
Net Change In Cash -949.4M 952.5M 615.5M
YoY Change -956.86% 476.92% 854.26%
FREE CASH FLOW
Cash From Operating Activities $172.3M $236.1M -$2.300M
Capital Expenditures -$65.40M -$61.10M -$32.10M
Free Cash Flow $237.7M $297.2M $29.80M
YoY Change 35.6% 43.3% -77.76%

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2900000 USD
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4500000 USD
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CY2018Q3 us-gaap Commitments And Contingencies
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0 USD
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1700000 USD
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0.13
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0.13
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100000 USD
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141600000 USD
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162600000 USD
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149100000 USD
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37600000 USD
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27300000 USD
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8500000 USD
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10200000 USD
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20000000 USD
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47800000 USD
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8700000 USD
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52500000 USD
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1700000 USD
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4300000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
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5200000 USD
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40800000 USD
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33000000 USD
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7000000 USD
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4300000 USD
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200000 USD
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5200000 USD
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300000 USD
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100000 USD
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19600000 USD
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302800000 USD
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323100000 USD
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398400000 USD
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5900000 USD
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0 USD
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0 USD
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10000000 USD
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6.16
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400000 USD
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33300000 USD
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0.35
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P2Y1M
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8000000 USD
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9700000 USD
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7800000 USD
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7600000 USD
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635700000 USD
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159000000 USD
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159200000 USD
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156400000 USD
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159200000 USD
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159200000 USD
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200000 USD
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30800000 USD
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93600000 USD
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96700000 USD
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0 USD
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0 USD
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0 USD
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26500000 USD
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26500000 USD
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124900000 USD
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124900000 USD
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0 USD
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26500000 USD
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11500000 USD
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364100000 USD
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461400000 USD
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478000000 USD
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300000 USD
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52000000 USD
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54600000 USD
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27700000 USD
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9300000 USD
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74400000 USD
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264700000 USD
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29600000 USD
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24700000 USD
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74400000 USD
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264700000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
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0 USD
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0 USD
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CY2016 us-gaap Income Tax Expense Benefit
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CY2017 us-gaap Income Tax Expense Benefit
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26100000 USD
CY2018 us-gaap Income Tax Expense Benefit
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46400000 USD
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41500000 USD
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3800000 USD
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4800000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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4100000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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-2000000 USD
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-6200000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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800000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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5600000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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300000 USD
CY2016 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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4300000 USD
CY2017 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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0 USD
CY2018 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
IncomeTaxReconciliationDeductionsQualifiedProductionActivities
5900000 USD
CY2016 us-gaap Income Tax Reconciliation Disposition Of Business
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-3600000 USD
CY2017 us-gaap Income Tax Reconciliation Disposition Of Business
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0 USD
CY2018 us-gaap Income Tax Reconciliation Disposition Of Business
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0 USD
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0 USD
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7200000 USD
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0 USD
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0 USD
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2900000 USD
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1500000 USD
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1800000 USD
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1200000 USD
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2300000 USD
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2600000 USD
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37200000 USD
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2800000 USD
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1000000 USD
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19600000 USD
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5500000 USD
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4200000 USD
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1300000 USD
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0 USD
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0 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
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6200000 USD
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47800000 USD
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5000000 USD
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0 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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1300000 USD
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3600000 USD
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0 USD
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72200000 USD
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48500000 USD
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9400000 USD
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800000 USD
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1800000 USD
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3353900000 USD
CY2018Q3 us-gaap Other Intangible Assets Net
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CY2017Q3 us-gaap Treasury Stock Shares
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5800000 shares
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17200000 USD
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30900000 USD
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P10Y
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218600000 USD
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2200000 USD
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CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2018Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
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CY2018Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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317800000 USD
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700000 USD
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0 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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2700000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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3500000 USD
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100000 USD
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300000 USD
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800000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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2000000 USD
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8300000 USD
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69900000 shares
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63900000 shares
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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66600000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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68800000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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67800000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
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66600000 shares
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Advertising</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#8212; </font><font style="font-family:inherit;font-size:10pt;">Advertising costs are expensed as incurred except for costs of producing media advertising such as television commercials or magazine advertisements, which are deferred until the first time the advertising takes place.</font></div></div>
CY2018 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates and Allocations&#160;&#8212;</font><font style="font-family:inherit;font-size:10pt;"> The consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;), which require certain elections as to accounting policy, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the dates of the financial statements and the reported amount of net revenues and expenses during the reporting periods. Significant accounting policy elections, estimates and assumptions include, among others, pension and benefit plan assumptions, valuation assumptions of goodwill and other intangible assets, marketing programs, self-insurance reserves and income taxes. Actual results could differ from those estimates.</font></div></div>

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