2017 Q4 Form 10-K Financial Statement

#000153470119000063 Filed on February 22, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $29.75B $25.63B $24.09B
YoY Change 27.14% 18.51% 10.24%
Cost Of Revenue $27.31B $19.46B $18.35B
YoY Change 25.92% 0.56% -6.44%
Gross Profit $2.586B $6.164B $5.734B
YoY Change 36.97% 170.83% 137.53%
Gross Profit Margin 8.69% 24.05% 23.81%
Selling, General & Admin $541.0M $435.0M $439.0M
YoY Change 14.38% 5.84% 4.28%
% of Gross Profit 20.92% 7.06% 7.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $346.0M $337.0M $320.0M
YoY Change 13.44% 15.02% 10.34%
% of Gross Profit 13.38% 5.47% 5.58%
Operating Expenses $2.051B $435.0M $439.0M
YoY Change 3.53% 5.84% 4.28%
Operating Profit $535.0M $5.729B $5.295B
YoY Change -675.27% 207.18% 165.68%
Interest Expense $104.0M $77.00M $528.0M
YoY Change -28.28% -78.43% 500.0%
% of Operating Profit 19.44% 1.34% 9.97%
Other Income/Expense, Net $21.00M $49.00M $18.00M
YoY Change 110.0% 104.17% 5.88%
Pretax Income $654.0M $1.256B $848.0M
YoY Change 954.84% 54.49% 17.78%
Income Tax $120.0M $407.0M $267.0M
% Of Pretax Income 18.35% 32.4% 31.49%
Net Earnings $3.198B $823.0M $550.0M
YoY Change 1861.96% 61.06% 10.89%
Net Earnings / Revenue 10.75% 3.21% 2.28%
Basic Earnings Per Share $6.29 $1.60 $1.06
Diluted Earnings Per Share $6.25 $1.60 $1.06
COMMON SHARES
Basic Shares Outstanding 512.9M shares 517.8M shares
Diluted Shares Outstanding 516.0M shares 520.2M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.119B $1.547B $2.161B
YoY Change 15.05% -33.8% -3.18%
Cash & Equivalents $3.119B $1.547B $2.161B
Short-Term Investments
Other Short-Term Assets $370.0M $578.0M $456.0M
YoY Change -12.32% -19.83% -44.46%
Inventory $3.395B $4.455B $4.245B
Prepaid Expenses
Receivables $7.506B $6.355B $5.594B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.39B $12.94B $12.46B
YoY Change 13.49% 8.12% -1.48%
LONG-TERM ASSETS
Property, Plant & Equipment $21.46B $21.30B $21.29B
YoY Change 2.9% 4.19% 5.17%
Goodwill $3.270B $3.270B $3.270B
YoY Change 0.0% 0.09% -0.15%
Intangibles $876.0M $884.0M $889.0M
YoY Change -1.35% -0.9% -0.78%
Long-Term Investments $13.73B $13.90B $13.51B
YoY Change 4.82% 4.68% 4.41%
Other Assets $434.0M $421.0M $413.0M
YoY Change 1.88% 3.44% 13.46%
Total Long-Term Assets $39.98B $39.78B $39.37B
YoY Change 2.59% 3.88% 4.39%
TOTAL ASSETS
Total Short-Term Assets $14.39B $12.94B $12.46B
Total Long-Term Assets $39.98B $39.78B $39.37B
Total Assets $54.37B $52.71B $51.83B
YoY Change 5.26% 4.89% 2.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.242B $6.404B $5.891B
YoY Change 13.24% 11.05% -6.77%
Accrued Expenses $2.039B $1.928B $1.826B
YoY Change 87.75% -1.38% 2.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $41.00M $706.0M $493.0M
YoY Change -95.9% -55.4% -67.82%
Total Short-Term Liabilities $10.11B $9.905B $8.874B
YoY Change 6.81% -1.93% -14.67%
LONG-TERM LIABILITIES
Long-Term Debt $10.07B $9.495B $9.472B
YoY Change 5.02% 30.52% 29.22%
Other Long-Term Liabilities $1.759B $1.748B $2.111B
YoY Change -17.57% -12.6% -9.48%
Total Long-Term Liabilities $11.83B $11.24B $11.58B
YoY Change 0.9% 21.22% 19.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.11B $9.905B $8.874B
Total Long-Term Liabilities $11.83B $11.24B $11.58B
Total Liabilities $26.94B $28.75B $28.02B
YoY Change -3.53% 10.83% 6.57%
SHAREHOLDERS EQUITY
Retained Earnings $16.31B $13.46B $13.00B
YoY Change 29.33% 5.39% 3.21%
Common Stock $19.77B $19.66B $19.63B
YoY Change 1.07% 0.91% 1.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.38B $9.915B $9.454B
YoY Change 18.09% 15.86% 12.83%
Treasury Stock Shares 141.6M shares 136.7M shares 131.2M shares
Shareholders Equity $25.09B $22.52B $22.37B
YoY Change
Total Liabilities & Shareholders Equity $54.37B $52.71B $51.83B
YoY Change 5.26% 4.89% 2.91%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $3.198B $823.0M $550.0M
YoY Change 1861.96% 61.06% 10.89%
Depreciation, Depletion And Amortization $346.0M $337.0M $320.0M
YoY Change 13.44% 15.02% 10.34%
Cash From Operating Activities $1.931B $401.0M $1.865B
YoY Change 189.51% -54.59% 61.47%
INVESTING ACTIVITIES
Capital Expenditures -$537.0M -$367.0M -$458.0M
YoY Change -33.95% -44.48% -26.13%
Acquisitions
YoY Change
Other Investing Activities $67.00M -$14.00M $5.000M
YoY Change -136.81% -112.73% -103.85%
Cash From Investing Activities -$470.0M -$381.0M -$453.0M
YoY Change -52.76% -30.85% -39.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 91.00M -612.0M -904.0M
YoY Change -87.06% 166.09% -784.85%
NET CHANGE
Cash From Operating Activities 1.931B 401.0M 1.865B
Cash From Investing Activities -470.0M -381.0M -453.0M
Cash From Financing Activities 91.00M -612.0M -904.0M
Net Change In Cash 1.552B -592.0M 508.0M
YoY Change 313.87% -680.39% -5.4%
FREE CASH FLOW
Cash From Operating Activities $1.931B $401.0M $1.865B
Capital Expenditures -$537.0M -$367.0M -$458.0M
Free Cash Flow $2.468B $768.0M $2.323B
YoY Change 66.76% -50.26% 30.87%

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CY2017 us-gaap Advertising Expense
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CY2018 us-gaap Advertising Expense
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CY2018 us-gaap Allocated Share Based Compensation Expense
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18000000 USD
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21000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
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14000000 USD
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CY2018Q4 us-gaap Asset Retirement Obligation
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261000000 USD
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10000000 USD
CY2018 us-gaap Asset Retirement Obligation Accretion Expense
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10000000 USD
CY2017 us-gaap Asset Retirement Obligation Cash Paid To Settle
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CY2018 us-gaap Asset Retirement Obligation Cash Paid To Settle
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15000000 USD
CY2017 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
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CY2018 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
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CY2017 us-gaap Asset Retirement Obligation Revision Of Estimate
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17000000 USD
CY2018 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2018Q4 us-gaap Assets Current
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CY2018Q4 us-gaap Capital Lease Obligations
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210000000 USD
CY2018Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
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196000000 USD
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230000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
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23000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
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16000000 USD
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16000000 USD
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18000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
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19000000 USD
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138000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
46000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Sublease Rentals
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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3119000000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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2711000000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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3119000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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408000000 USD
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CY2018Q4 us-gaap Commercial Paper
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CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2017Q4 us-gaap Common Stock Shares Authorized
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2500000000 shares
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2500000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
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639336000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2018Q4 us-gaap Common Stock Shares Issued
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CY2018Q4 us-gaap Common Stock Shares Issued
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5520000000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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248000000 USD
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CY2017Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
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326000000 USD
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CY2018Q4 us-gaap Debt And Capital Lease Obligations
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CY2018Q4 us-gaap Debt Current
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108000000 USD
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100000000 USD
CY2017Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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CY2017 us-gaap Decrease In Restricted Cash
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318000000 USD
CY2018 us-gaap Decrease In Restricted Cash
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10000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Inventory
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CY2017Q4 us-gaap Deferred Tax Assets Net
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560000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Net
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3000000 USD
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CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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314000000 USD
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395000000 USD
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44000000 USD
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16000000 USD
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CY2018Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
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66000000 USD
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1923000000 USD
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99000000 USD
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101000000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
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178000000 USD
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89000000 USD
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
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21000000 USD
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721000000 USD
CY2018Q4 us-gaap Derivative Liability Fair Value Gross Asset
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1075000000 USD
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1282000000 USD
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1436000000 USD
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759000000 USD
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2.94
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1.02
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1.06
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1.60
CY2017Q4 us-gaap Earnings Per Share Basic
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6.29
CY2017 us-gaap Earnings Per Share Basic
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9.90
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1.07
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2.86
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3.20
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4.85
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11.87
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2.92
CY2017Q1 us-gaap Earnings Per Share Diluted
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1.02
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1.06
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1.60
CY2017Q4 us-gaap Earnings Per Share Diluted
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6.25
CY2017 us-gaap Earnings Per Share Diluted
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9.85
CY2018Q1 us-gaap Earnings Per Share Diluted
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1.07
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2.84
CY2018Q3 us-gaap Earnings Per Share Diluted
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3.18
CY2018Q4 us-gaap Earnings Per Share Diluted
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4.82
CY2018 us-gaap Earnings Per Share Diluted
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11.80
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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10000000 USD
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17000000 USD
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10000000 USD
CY2017 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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17000000 USD
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-35000000 USD
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0.250
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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-0.476
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0.211
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.037
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.003
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.765
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.005
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0.005
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
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0.008
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.069
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.059
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.012
CY2016 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
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0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.013
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.006
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2918000000 USD
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27000000 USD
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5100000000 USD
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1550000000 USD
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181000000 USD
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392000000 USD
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292000000 USD
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CY2018 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
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680000000 USD
CY2018 us-gaap Operating Leases Rent Expense Minimum Rentals
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OperatingLeasesRentExpenseNet
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OperatingLeasesRentExpenseNet
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OperatingLeasesRentExpenseSubleaseRentals1
95000000 USD
CY2017 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
73000000 USD
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71000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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268000000 USD
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259000000 USD
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CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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9000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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OtherComprehensiveIncomeLossNetOfTax
378000000 USD
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OtherComprehensiveIncomeLossNetOfTax
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
51000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-115000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
13000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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-94000000 USD
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-176000000 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-148000000 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
8000000 USD
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6000000 USD
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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1000000 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
3000000 USD
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
2000000 USD
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0 USD
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4275000000 USD
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4699000000 USD
CY2018 us-gaap Other Cost And Expense Operating
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4880000000 USD
CY2017Q4 us-gaap Other Inventory Supplies
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289000000 USD
CY2018Q4 us-gaap Other Inventory Supplies
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305000000 USD
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106000000 USD
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455000000 USD
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442000000 USD
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163000000 USD
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186000000 USD
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56000000 USD
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OtherNonoperatingIncomeExpense
67000000 USD
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16000000 USD
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6000000 USD
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6000000 USD
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6000000 USD
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5000000 USD
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CY2018 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2016 us-gaap Partners Capital Account Sale Of Units
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PartnersCapitalAccountSaleOfUnits
115000000 USD
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PaymentsForAdvanceToAffiliate
432000000 USD
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PaymentsForAdvanceToAffiliate
10000000 USD
CY2018 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
1000000 USD
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1590000000 USD
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1436000000 USD
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75000000 USD
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120000000 USD
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207000000 USD
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75000000 USD
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120000000 USD
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207000000 USD
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867000000 USD
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500000000 shares
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370000000 USD
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108000000 USD
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326000000 USD
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ProceedsFromCollectionOfAdvanceToAffiliate
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972000000 USD
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1205000000 USD
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128000000 USD
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2090000000 USD
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3508000000 USD
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2184000000 USD
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0 USD
CY2017 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
0 USD
CY2018 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
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ProfitLoss
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ProfitLoss
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ProfitLoss
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60000000 USD
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60000000 USD
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CY2017Q4 us-gaap Restricted Cash
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CY2018Q4 us-gaap Restricted Cash
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2285000000 USD
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62000000 USD
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37000000 USD
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49027 shares
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16.94
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16.95
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20.69
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CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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58.34
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63.11
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106000000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3331259 shares
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53.51
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109000000 USD
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3941271 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
57.79
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
57.61
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
89.93
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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94.85
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StockIssuedDuringPeriodSharesShareBasedCompensation
2258000 shares
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StockIssuedDuringPeriodSharesShareBasedCompensation
2241000 shares
CY2018 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1857000 shares
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
687020 shares
CY2017Q4 us-gaap Stockholders Equity
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25085000000 USD
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23725000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
27428000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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27153000000 USD
CY2018Q4 us-gaap Stockholders Equity
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24653000000 USD
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23938000000 USD
CY2017Q4 us-gaap Taxes Payable Current
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1002000000 USD
CY2018Q4 us-gaap Taxes Payable Current
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1116000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
109926000 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
122827000 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
141565000 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
141565145 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
189526331 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
189526000 shares
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
12901000 shares
CY2017 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
18738000 shares
CY2018 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
47961000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10378000000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15023000000 USD
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1042000000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1590000000 USD
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4645000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
82000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
70000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
34000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
23000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
17000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
32000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
10000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
12000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
8000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
5000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
13000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
5000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
318000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
318000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
318000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
318000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
318000000 USD
CY2018Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
2280000000 USD
CY2016 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
325000000 USD
CY2017 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
323000000 USD
CY2018 us-gaap Unrecorded Unconditional Purchase Obligation Purchases
UnrecordedUnconditionalPurchaseObligationPurchases
323000000 USD
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
20000000 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
530066000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
518508000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
474047000 shares
CY2016 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
4281000 shares
CY2017 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
3822000 shares
CY2018 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
3225000 shares
CY2016 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
523250000 shares
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
511268000 shares
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
467483000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
527531000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
515090000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
470708000 shares
CY2018 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;">New Accounting Standards</font><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;">In February 2018, the FASB issued ASU No. 2018-02, &#8220;Income Statement&#8212;Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.&#8221; This ASU allows for the deferred income tax effects stranded in accumulated other comprehensive income (AOCI) resulting from the Tax Act enacted in December 2017 to be reclassed from AOCI to retained earnings. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Upon adoption on January 1, 2019, we increased retained earnings by approximately </font><font style="font-family:inherit;font-size:10.5pt;">$90 million</font><font style="font-family:inherit;font-size:10.5pt;"> with the offset to accumulated other comprehensive loss on our consolidated balance sheet.</font></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;">In June 2016, the FASB issued ASU No. 2016-13, &#8220;Financial Instruments&#8212;Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.&#8221; The new standard amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which may result in earlier recognition of losses. Public business entities should apply the guidance in ASU No. 2016-13 for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption will be permitted for annual periods beginning after December 15, 2018. We are evaluating the provisions of ASU No. 2016-13, and currently do not expect our adoption to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;">In February 2016, the FASB issued ASU No. 2016-02, &#8220;Leases (Topic 842).&#8221; The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months.&#160; Leases will continue to be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.&#160; Similarly, lessors will be required to classify leases as sales-type, finance or operating, with classification affecting the pattern of income recognition.&#160; Classification for both lessees and lessors will be based on an assessment of whether risks and rewards, as well as substantive control have been transferred through a lease contract.&#160; The ASU also requires additional disclosures. Public business entities should apply the guidance in ASU No. 2016-02 for annual periods beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted. We will adopt ASU No. 2016-02 by recognizing a cumulative-effect adjustment to our opening consolidated balance sheet as of our January 1, 2019, adoption date. As of the adoption date, we expect to recognize ROU assets and operating lease liabilities on our consolidated balance sheet of approximately </font><font style="font-family:inherit;font-size:10.5pt;">$1.4 billion</font><font style="font-family:inherit;font-size:10.5pt;">.&#160; The adoption of this ASU is not expected to have a material impact on our consolidated statements of income and cash flows.</font></div></div>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;">Recasted Financial Information</font><font style="font-family:inherit;font-size:10.5pt;">&#8212;Certain prior period financial information has been recasted to reflect the current year&#8217;s presentation.</font></div></div>
CY2018 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;">Impairment of Properties, Plants and Equipment</font><font style="font-family:inherit;font-size:10.5pt;">&#8212;PP&amp;E used in operations are assessed for impairment whenever changes in facts and circumstances indicate a possible significant deterioration in the future cash flows expected to be generated by an asset group. If indicators of potential impairment exist, an undiscounted cash flow test is performed. If the sum of the undiscounted expected future pre-tax cash flows of an asset group is less than the carrying value of the asset group, including applicable liabilities, the carrying value of the PP&amp;E included in the asset group is written down to estimated fair value and the write down is reported in the &#8220;Impairments&#8221; line on our consolidated statement of income in the period in which the impairment determination is made. Individual assets are grouped for impairment purposes at the lowest level for which identifiable cash flows are largely independent of the cash flows of assets (for example, at a refinery complex level). Because there is usually a lack of quoted market prices for long-lived assets, the fair value of impaired assets is typically determined using one or more of the following methods: the present values of expected future cash flows using discount rates and other assumptions believed to be consistent with those used by principal market participants; a market multiple of earnings for similar assets; or historical market transactions of similar assets, adjusted using principal market participant assumptions when necessary. Long-lived assets held for sale are accounted for at the lower of amortized cost or fair value, less cost to sell, with fair value determined using a binding negotiated price, if available, or present value of expected future cash flows as previously described.</font></div><div style="line-height:120%;padding-left:48px;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-left:48px;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;">The expected future cash flows used for impairment reviews and related fair value calculations are based on estimated future volumes, prices, costs, margins and capital project decisions, considering all available evidence at the date of review.</font></div><div style="line-height:120%;padding-left:48px;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;"><br clear="none"/></font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10.5pt;">&#8212;The preparation of financial statements in conformity with generally accepted accounting principles in the United States (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.</font></div></div>

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