2017 Form 8-K Financial Statement

#000010917718000013 Filed on April 02, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q3 2016 Q2
Revenue $3.707B $729.7M $1.363B
YoY Change -1.27% -43.06% 11.05%
Cost Of Revenue $193.2M $762.0M $830.9M
YoY Change 0.36% -8.41% 5.0%
Gross Profit $1.336B $305.1M $376.2M
YoY Change -2.67% -34.74% -17.93%
Gross Profit Margin 36.06% 41.81% 27.6%
Selling, General & Admin $39.30M $350.3M $343.8M
YoY Change 23.2% -29.06% -6.98%
% of Gross Profit 2.94% 114.81% 91.39%
Research & Development $44.60M
YoY Change 1.13%
% of Gross Profit 3.34%
Depreciation & Amortization $147.3M $117.1M $45.50M
YoY Change 7.75% 59.32% -17.12%
% of Gross Profit 11.02% 38.38% 12.09%
Operating Expenses $1.049B $350.3M $343.8M
YoY Change -0.22% -241.71% -6.98%
Operating Profit $287.5M -$45.20M $188.1M
YoY Change -10.66% -182.63% -352.48%
Interest Expense $309.9M -$110.8M $98.00M
YoY Change -7.35% -57.73% -34.27%
% of Operating Profit 107.79% 52.1%
Other Income/Expense, Net $300.0K $1.100M $200.0K
YoY Change -40.0% -103.83% -93.33%
Pretax Income -$27.90M $27.80M $90.30M
YoY Change 253.16% -92.35% -149.59%
Income Tax -$11.80M $36.10M -$2.200M
% Of Pretax Income 129.86% -2.44%
Net Earnings $106.0M -$7.300M -$132.9M
YoY Change -153.32% -94.9% 75.79%
Net Earnings / Revenue 2.86% -1.0% -9.75%
Basic Earnings Per Share $3.29 -$0.04 -$0.67
Diluted Earnings Per Share $3.29 -$0.04 -$0.65
COMMON SHARES
Basic Shares Outstanding 32.20M 200.8M shares 198.6M shares
Diluted Shares Outstanding 32.20M 201.6M shares

Balance Sheet

Concept 2017 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $270.0M $465.0M $488.0M
YoY Change -41.94% -29.65% -62.26%
Cash & Equivalents $270.0M $465.2M $447.9M
Short-Term Investments $1.000M
Other Short-Term Assets $28.99B $8.000M $8.000M
YoY Change 482983.33% 33.33%
Inventory $496.0M $449.9M $842.3M
Prepaid Expenses
Receivables $266.0M $245.6M
Other Receivables $19.00M $23.80M
Total Short-Term Assets $30.04B $1.824B $1.989B
YoY Change 1621.26% -11.3% -32.62%
LONG-TERM ASSETS
Property, Plant & Equipment $504.0M $367.4M $639.0M
YoY Change -7.18% -27.89% -25.35%
Goodwill $1.317B $2.480B
YoY Change -38.41% -0.76%
Intangibles $1.535B $2.400B
YoY Change -3.79% -29.13%
Long-Term Investments $0.00 $55.00M
YoY Change -99.72%
Other Assets $1.420B $26.44B $28.25B
YoY Change -94.63% -3.84% 1524.38%
Total Long-Term Assets $5.814B $31.76B $33.82B
YoY Change -81.74% -3.7% 12.67%
TOTAL ASSETS
Total Short-Term Assets $30.04B $1.824B $1.989B
Total Long-Term Assets $5.814B $31.76B $33.82B
Total Assets $35.85B $33.58B $35.81B
YoY Change 6.76% -4.14% 8.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.0M $316.0M $897.0M
YoY Change -35.81% -70.02% -2.82%
Accrued Expenses $134.0M
YoY Change -66.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $239.3M $0.00
YoY Change
Long-Term Debt Due $161.0M $166.0M -$37.50M
YoY Change 268.07% -27.04%
Total Short-Term Liabilities $27.65B $1.241B $2.655B
YoY Change 2712.31% -57.46% 186.41%
LONG-TERM LIABILITIES
Long-Term Debt $5.544B $5.226B $5.907B
YoY Change 0.33% -12.01% -12.89%
Other Long-Term Liabilities $221.0M $0.00 $24.71B
YoY Change -99.11% -100.0% 8.72%
Total Long-Term Liabilities $5.765B $5.226B $5.907B
YoY Change -80.93% -12.01% -12.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.65B $1.241B $2.655B
Total Long-Term Liabilities $5.765B $5.226B $5.907B
Total Liabilities $35.09B $31.76B $34.12B
YoY Change 6.53% -5.02% 9.72%
SHAREHOLDERS EQUITY
Retained Earnings -$1.032B -$1.025B
YoY Change 23.86% 48.49%
Common Stock $1.449B $1.449B
YoY Change -0.78% -1.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $758.0M $638.1M $555.4M
YoY Change
Total Liabilities & Shareholders Equity $35.85B $33.58B $35.81B
YoY Change 6.76% -4.14% 8.62%

Cashflow Statement

Concept 2017 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $106.0M -$7.300M -$132.9M
YoY Change -153.32% -94.9% 75.79%
Depreciation, Depletion And Amortization $147.3M $117.1M $45.50M
YoY Change 7.75% 59.32% -17.12%
Cash From Operating Activities $840.2M $384.4M $166.8M
YoY Change -7.99% -40.84% -44.86%
INVESTING ACTIVITIES
Capital Expenditures $81.80M $35.80M $20.80M
YoY Change 10.99% 44.35% -12.24%
Acquisitions $289.4M
YoY Change
Other Investing Activities $2.800M -$257.0M -$249.0M
YoY Change 154.55% 50.12% -76.99%
Cash From Investing Activities -$1.587B -$292.8M -$269.8M
YoY Change 78.06% 49.39% -75.61%
FINANCING ACTIVITIES
Cash Dividend Paid $25.00M
YoY Change -81.1%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $257.7M
YoY Change -76.44%
Cash From Financing Activities 583.0M -74.60M 112.8M
YoY Change 292.06% -79.52% -88.87%
NET CHANGE
Cash From Operating Activities 840.2M 384.4M 166.8M
Cash From Investing Activities -1.587B -292.8M -269.8M
Cash From Financing Activities 583.0M -74.60M 112.8M
Net Change In Cash -161.3M 17.00M 9.800M
YoY Change -195.33% -81.03% -95.34%
FREE CASH FLOW
Cash From Operating Activities $840.2M $384.4M $166.8M
Capital Expenditures $81.80M $35.80M $20.80M
Free Cash Flow $758.4M $348.6M $146.0M
YoY Change -9.66% -44.22% -47.63%

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1.14
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1376900000 USD
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0.01
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0.53
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-2.81
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-0.12
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1.06
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0.01
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0.53
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3100000 USD
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-0.004
us-gaap Effective Income Tax Rate Continuing Operations
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-6.348
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-6.348
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272100000 USD
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297100000 USD
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57500000 USD
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-400000 USD
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8200000 USD
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853000000 USD
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884800000 USD
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580900000 USD
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587700000 USD
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38500000 USD
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8000000 USD
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2138900000 USD
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2133300000 USD
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2277100000 USD
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3300000 USD
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1800000 USD
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8800000 USD
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0 USD
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235900000 USD
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305100000 USD
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239100000 USD
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306800000 USD
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320100000 USD
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310000000 USD
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2700000 USD
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16300000 USD
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60200000 USD
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13400000 USD
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16300000 USD
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31900000 USD
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9200000 USD
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328200000 USD
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67600000 USD
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3800000 USD
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-1.51
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126000000 USD
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303100000 USD
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3000000 USD
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2900000 USD
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38100000 USD
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180300000 USD
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81500000 USD
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9200000 USD
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2100000 USD
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6600000 USD
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3200000 USD
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9900000 USD
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0 USD
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0 USD
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500000 USD
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4900000 USD
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12200000 USD
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2400000 USD
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700000 USD
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5600000 USD
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4000000 USD
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4700000 USD
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35900000 USD
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37500000 USD
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0 USD
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51100000 USD
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953900000 USD
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1024300000 USD
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9900000 USD
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334500000 USD
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68300000 USD
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78000000 USD
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327100000 USD
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365100000 USD
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449900000 USD
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496300000 USD
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96800000 USD
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95700000 USD
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15000000 USD
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26000000 USD
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35500000 USD
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20700000 USD
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8900000 USD
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1100000 USD
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2405300000 USD
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2631700000 USD
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36600000 USD
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42100000 USD
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28000000 USD
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33580100000 USD
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412100000 USD
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24709300000 USD
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156100000 USD
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5801900000 USD
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2481700000 USD
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2148400000 USD
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100000000 USD
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20900000 USD
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889500000 USD
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161400000 USD
CY2016Q3 us-gaap Long Term Debt Noncurrent
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5226300000 USD
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274100000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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155100000 USD
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8500000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1946900000 USD
CY2016Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
0 USD
CY2017 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
8900000 USD
CY2015 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-256600000 USD
CY2016 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
349300000 USD
CY2017 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
99600000 USD
CY2014Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7600000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12400000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16500000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
20900000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
500000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
400000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
500000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
600000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1400000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1100000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1200000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
4100000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
4000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
4000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
300000 USD
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
309000000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
281400000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
206700000 USD
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198142000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198374000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
199990000 shares
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified or combined to conform to the current year presentation. These reclassifications and combinations had no effect on previously reported results of operations or accumulated deficit.</font></div></div>
CY2017 us-gaap Revenue Recognition Customer Acquisitions
RevenueRecognitionCustomerAcquisitions
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Acquisition and Integration Related Charges</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquisition and integration related charges include, but are not limited to, transaction costs (such as banking, legal, accounting and other professional fees directly related to both consummated acquisitions and acquisition targets), termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination expenses associated with integration activity.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with generally accepted accounting principles (&#8220;GAAP&#8221;) 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</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font><font style="font-family:inherit;font-size:10pt;"> </font></div></div>

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