2016 Q3 Form 10-Q Financial Statement

#000023055716000035 Filed on July 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $581.7M $568.7M $522.0M
YoY Change 7.63% 8.96% 2.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.40M $15.60M $15.10M
YoY Change 4.05% 3.31% 81.93%
% of Gross Profit
Operating Expenses $520.6M $500.9M $469.7M
YoY Change 10.98% 6.64% 1.69%
Operating Profit
YoY Change
Interest Expense -$5.700M -$5.600M -$5.500M
YoY Change 3.64% 1.82% 1.85%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $55.44M $62.31M $46.77M
YoY Change -15.79% 33.24% 18.33%
Income Tax $16.94M $18.71M $13.00M
% Of Pretax Income 30.56% 30.03% 27.79%
Net Earnings $38.50M $43.60M $33.77M
YoY Change -18.07% 29.12% 15.09%
Net Earnings / Revenue 6.62% 7.67% 6.47%
Basic Earnings Per Share $0.66 $0.75 $0.59
Diluted Earnings Per Share $0.66 $0.74 $0.58
COMMON SHARES
Basic Shares Outstanding 57.81M shares 57.64M shares 56.95M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $69.81M $68.57M $62.18M
YoY Change 6.33% 10.28% 15.5%
Goodwill $7.849M $7.849M $7.849M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $5.368B $5.267B $4.923B
YoY Change 7.07% 6.97% 3.89%
Other Assets $41.70M $47.70M $106.2M
YoY Change -55.21% -55.08% 9.03%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.363B $7.190B $6.784B
YoY Change 6.74% 5.97% 4.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $103.6M $118.7M $140.2M
YoY Change -34.43% -15.34% 65.14%
Deferred Revenue
YoY Change
Short-Term Debt $45.00M $60.00M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $155.1M $187.4M $153.8M
YoY Change -9.09% 21.85% 61.72%
LONG-TERM LIABILITIES
Long-Term Debt $378.6M $328.4M $394.3M
YoY Change -3.98% -16.71% 0.51%
Other Long-Term Liabilities $261.8M $267.4M $212.6M
YoY Change 10.23% 25.78% -0.19%
Total Long-Term Liabilities $640.4M $595.8M $606.9M
YoY Change 1.36% -1.83% 0.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.1M $187.4M $153.8M
Total Long-Term Liabilities $640.4M $595.8M $606.9M
Total Liabilities $5.788B $5.637B $5.474B
YoY Change 4.5% 2.98% 4.22%
SHAREHOLDERS EQUITY
Retained Earnings $1.539B $1.509B $1.371B
YoY Change 9.18% 10.11% 11.03%
Common Stock $545.9M $543.0M $518.5M
YoY Change 4.5% 4.73% 4.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $572.1M $571.5M $566.5M
YoY Change 0.93% 0.89% 0.78%
Treasury Stock Shares 43.65M shares 43.64M shares 43.48M shares
Shareholders Equity $1.575B $1.553B $1.310B
YoY Change
Total Liabilities & Shareholders Equity $7.363B $7.190B $6.784B
YoY Change 6.74% 5.97% 4.53%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $38.50M $43.60M $33.77M
YoY Change -18.07% 29.12% 15.09%
Depreciation, Depletion And Amortization $15.40M $15.60M $15.10M
YoY Change 4.05% 3.31% 81.93%
Cash From Operating Activities $118.4M $45.30M $105.0M
YoY Change 26.77% -56.86% 184.55%
INVESTING ACTIVITIES
Capital Expenditures -$5.200M -$4.800M -$3.500M
YoY Change 20.93% 37.14% 288.89%
Acquisitions
YoY Change
Other Investing Activities -$138.8M -$32.60M -$109.1M
YoY Change 106.55% -70.12% 274.91%
Cash From Investing Activities -$144.0M -$37.30M -$112.5M
YoY Change 101.4% -66.84% 275.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.60M -7.100M -6.900M
YoY Change -455.56% 2.9% 23.21%
NET CHANGE
Cash From Operating Activities 118.4M 45.30M 105.0M
Cash From Investing Activities -144.0M -37.30M -112.5M
Cash From Financing Activities 25.60M -7.100M -6.900M
Net Change In Cash 0.000 900.0K -14.40M
YoY Change -100.0% -106.25% -1207.69%
FREE CASH FLOW
Cash From Operating Activities $118.4M $45.30M $105.0M
Capital Expenditures -$5.200M -$4.800M -$3.500M
Free Cash Flow $123.6M $50.10M $108.5M
YoY Change 26.51% -53.82% 187.04%

Facts In Submission

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us-gaap Benefits Losses And Expenses
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CY2016Q2 us-gaap Benefits Losses And Expenses
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Cash
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CY2015Q4 us-gaap Cash
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us-gaap Cash Period Increase Decrease
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us-gaap Ceded Premiums Earned
CededPremiumsEarned
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us-gaap Ceded Premiums Earned
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
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CommonStockParOrStatedValuePerShare
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CY2015Q4 us-gaap Common Stock Shares Authorized
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CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Conversion Of Stock Amount Converted1
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us-gaap Deferred Federal Income Tax Expense Benefit
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17616000 USD
us-gaap Deferred Policy Acquisition Costs Period Increase Decrease
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29085000 USD
us-gaap Depreciation Amortization And Accretion Net
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us-gaap Direct Premiums Earned
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CY2016Q2 us-gaap Direct Premiums Earned
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us-gaap Direct Premiums Earned
DirectPremiumsEarned
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us-gaap Direct Premiums Written
DirectPremiumsWritten
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CY2016Q2 us-gaap Direct Premiums Written
DirectPremiumsWritten
665862000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
1312140000 USD
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0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
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us-gaap Earnings Per Share Basic
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0.58
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1.27
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0.74
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EarningsPerShareDiluted
1.38
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Gain Loss On Sale Of Securities Net
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2314000 USD
us-gaap Gain Loss On Sale Of Securities Net
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CY2015Q4 us-gaap Goodwill
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CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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6764000 USD
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0 USD
CY2016Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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0 USD
CY2015Q4 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
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201054000 USD
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160090000 USD
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11633000 USD
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10266000 USD
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CY2015Q2 us-gaap Impairment Of Investments
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us-gaap Impairment Of Investments
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CY2016Q2 us-gaap Impairment Of Investments
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us-gaap Impairment Of Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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CY2015Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33553000 USD
us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Income Taxes
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us-gaap Increase Decrease In Income Taxes
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us-gaap Increase Decrease In Interest And Dividends Receivable
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1030000 USD
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743000 USD
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3877000 USD
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25651000 USD
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us-gaap Increase Decrease In Premiums Receivable
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us-gaap Incurred Claims Property Casualty And Liability
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us-gaap Incurred Claims Property Casualty And Liability
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us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2016Q2 us-gaap Interest Expense Debt
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5620000 USD
us-gaap Interest Expense Debt
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us-gaap Interest Paid
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10947000 USD
us-gaap Interest Paid
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CY2015Q4 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
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CY2015Q4 us-gaap Long Term Debt
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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165597000 USD
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32230000 USD
us-gaap Net Investment Income
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us-gaap Net Investment Income
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us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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577000 USD
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OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-1517000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1111000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-985000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-598000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-532000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1062000 USD
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-3422000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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16473000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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1762000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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10707000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
1145000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
5766000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
617000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
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CY2015Q2 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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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
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CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
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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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us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
0 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1111000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-2222000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-985000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1971000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-598000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-1196000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-17294000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
19391000 USD
us-gaap Other Comprehensive Income Loss Tax
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