2018 Q4 Form 10-Q Financial Statement

#000119312519001543 Filed on January 03, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $188.8M $156.7M
YoY Change 20.46% 6.19%
Cost Of Revenue $115.4M $97.32M
YoY Change 18.56% 6.94%
Gross Profit $73.42M $59.42M
YoY Change 23.56% 5.17%
Gross Profit Margin 38.89% 37.91%
Selling, General & Admin $54.96M $47.50M
YoY Change 15.71% 5.55%
% of Gross Profit 74.85% 79.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.150M $1.270M
YoY Change 69.29% 56.79%
% of Gross Profit 2.93% 2.14%
Operating Expenses $54.96M $47.50M
YoY Change 15.71% 3.71%
Operating Profit $16.31M $10.65M
YoY Change 53.14% -0.45%
Interest Expense $608.0K $397.0K
YoY Change 53.15%
% of Operating Profit 3.73% 3.73%
Other Income/Expense, Net
YoY Change
Pretax Income $15.71M $10.29M
YoY Change 52.67% 7.16%
Income Tax $5.141M $2.149M
% Of Pretax Income 32.73% 20.89%
Net Earnings $10.56M $8.138M
YoY Change 29.81% 42.77%
Net Earnings / Revenue 5.6% 5.19%
Basic Earnings Per Share $0.33 $0.27
Diluted Earnings Per Share $0.33 $0.27
COMMON SHARES
Basic Shares Outstanding 31.72M 30.17M
Diluted Shares Outstanding 32.45M 30.58M

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.80M $56.30M
YoY Change -27.53% -11.48%
Cash & Equivalents $40.82M $56.28M
Short-Term Investments
Other Short-Term Assets $7.000M $5.100M
YoY Change 37.25% 6.25%
Inventory
Prepaid Expenses
Receivables $146.5M $109.0M
Other Receivables $1.100M $0.00
Total Short-Term Assets $195.4M $170.5M
YoY Change 14.63% 1.43%
LONG-TERM ASSETS
Property, Plant & Equipment $23.70M $22.30M
YoY Change 6.27% 0.9%
Goodwill $191.2M $181.2M
YoY Change 5.5%
Intangibles $16.52M
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.061M $3.400M
YoY Change -9.97% -48.48%
Total Long-Term Assets $235.9M $211.8M
YoY Change 11.36% 6.59%
TOTAL ASSETS
Total Short-Term Assets $195.4M $170.5M
Total Long-Term Assets $235.9M $211.8M
Total Assets $431.3M $382.3M
YoY Change 12.81% 4.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.30M $20.30M
YoY Change 9.85% 36.24%
Accrued Expenses $52.00M $43.80M
YoY Change 18.72% -1.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $85.59M $72.30M
YoY Change 18.37% 9.88%
LONG-TERM LIABILITIES
Long-Term Debt $58.00M $48.00M
YoY Change 20.83% -17.24%
Other Long-Term Liabilities $7.062M $8.100M
YoY Change -12.81% 88.37%
Total Long-Term Liabilities $65.06M $56.10M
YoY Change 15.98% -9.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.59M $72.30M
Total Long-Term Liabilities $65.06M $56.10M
Total Liabilities $153.9M $129.5M
YoY Change 18.83% 1.09%
SHAREHOLDERS EQUITY
Retained Earnings $343.8M
YoY Change
Common Stock $445.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $499.7M
YoY Change
Treasury Stock Shares $30.45M
Shareholders Equity $277.4M $252.8M
YoY Change
Total Liabilities & Shareholders Equity $431.3M $382.3M
YoY Change 12.81% 4.23%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $10.56M $8.138M
YoY Change 29.81% 42.77%
Depreciation, Depletion And Amortization $2.150M $1.270M
YoY Change 69.29% 56.79%
Cash From Operating Activities $18.27M $14.77M
YoY Change 23.7% -2.83%
INVESTING ACTIVITIES
Capital Expenditures -$2.340M -$400.0K
YoY Change 485.0% -66.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$3.420M
YoY Change -100.0% -166.28%
Cash From Investing Activities -$2.340M -$3.830M
YoY Change -38.9% -197.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.630M -2.440M
YoY Change -33.2% -95.29%
NET CHANGE
Cash From Operating Activities 18.27M 14.77M
Cash From Investing Activities -2.340M -3.830M
Cash From Financing Activities -1.630M -2.440M
Net Change In Cash 14.30M 8.500M
YoY Change 68.24% -125.99%
FREE CASH FLOW
Cash From Operating Activities $18.27M $14.77M
Capital Expenditures -$2.340M -$400.0K
Free Cash Flow $20.61M $15.17M
YoY Change 35.86% -7.56%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:9pt 0pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-size:10pt;">1.&nbsp;Description of the Company and its Business </font> </p> <p style="margin:4.5pt 0pt 0pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">Resources Connection, Inc. (&#x201C;Resources Connection&#x201D;), a Delaware corporation, was incorporated on November&nbsp;16, 1998.&nbsp;&nbsp;Resources Connection is a multinational </font><font style="display: inline;font-size:10pt;">business consulting</font><font style="display: inline;font-size:10pt;"> firm; its operating entities provide services </font><font style="display: inline;font-size:10pt;">primarily </font><font style="display: inline;font-size:10pt;">under the name Resources Global Professionals (&#x201C;RGP&#x201D; or the &#x201C;Company&#x201D;).&nbsp; </font><font style="display: inline;font-size:10pt;">The Company provides agile consulting services and talent to its global client base utilizing experienced professionals </font><font style="display: inline;font-size:10pt;">in the areas of accounting; finance; governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; and legal and regulatory.&nbsp;&nbsp;The Company has offices in the United States (&#x201C;U.S.&#x201D;), Asia, Australia, Canada, Europe and Mexico. </font> </p> <p style="margin:6pt 0pt 0pt;text-indent:27pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">The Company&#x2019;s fiscal year consists of 52 or 53&nbsp;weeks, ending on the last Saturday in May.&nbsp;&nbsp;The </font><font style="display: inline;font-size:10pt;">second</font><font style="display: inline;font-size:10pt;"> quarters of fiscal 201</font><font style="display: inline;font-size:10pt;">9</font><font style="display: inline;font-size:10pt;"> and 201</font><font style="display: inline;font-size:10pt;">8</font><font style="display: inline;font-size:10pt;"> each consisted of 13 weeks.&nbsp; </font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2907000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4206000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3408000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1640000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1665000
us-gaap Net Income Loss
NetIncomeLoss
10250000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
8138000
us-gaap Net Income Loss
NetIncomeLoss
16305000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
10564000
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
2602000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
6514000
CY2018Q2 us-gaap Noncurrent Assets
NoncurrentAssets
232894000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
231388000
CY2018 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
2
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Operating Income Loss
OperatingIncomeLoss
15995000
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
10652000
us-gaap Operating Income Loss
OperatingIncomeLoss
26074000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
16313000
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2049000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3061000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
2105000
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7230000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6996000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
2260000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
2178000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1666000
CY2017Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-610000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2028000
CY2018Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1426000
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
12826000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
11356000
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6325000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7062000
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
255000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13002000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6833000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
784000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3405000
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10413000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22413000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23699000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
364000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
477000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
5000000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
335741000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
343827000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
297924000
CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
156738000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
367357000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
188799000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
128000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1290000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3100000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2300000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
268000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
94913000
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47498000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
111325000
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
54959000
us-gaap Share Based Compensation
ShareBasedCompensation
3062000
us-gaap Share Based Compensation
ShareBasedCompensation
3013000
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1700000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1359000
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7988000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4405000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12310000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8934000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6869000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7011000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.10
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.78
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M2D
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
8875000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6614000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.64
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y10M17D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.85
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
19.41
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
15.32
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.96
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y4M6D
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
268825000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
277410000
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
79810
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
752000
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
29638000
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
30445000
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
486722000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
499724000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
13002000
CY2017Q4 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2400000
CY2018Q4 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0
us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:9pt 0pt 0pt 12.25pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;">Use of Estimates </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Although management believes these estimates and assumptions are adequate, actual results could differ from the estimates and assumptions used.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
328000
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
406000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
726000
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
725000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30319000
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30579000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32457000
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32446000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29991000
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30173000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31731000
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31721000

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