2015 Q1 Form 10-K Financial Statement

#000102116216000059 Filed on May 27, 2016

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q3
Revenue $1.080B $183.0M $191.8M
YoY Change 15.36% 13.8% 26.93%
Cost Of Revenue $817.2M $868.0M $771.4M
YoY Change 12.83% 20.6% 0.02%
Gross Profit $237.1M $24.07M $197.6M
YoY Change 30.09% -85.55% 15.44%
Gross Profit Margin 21.95% 13.15% 102.98%
Selling, General & Admin $80.40M $70.91M $68.77M
YoY Change 27.22% 16.56% 8.16%
% of Gross Profit 33.91% 294.6% 34.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.90M $39.81M $39.01M
YoY Change -4.77% -9.74% 2.01%
% of Gross Profit 17.67% 165.4% 19.75%
Operating Expenses $122.4M $978.7M $879.4M
YoY Change 14.18% 17.77% 0.58%
Operating Profit $140.7M -$61.27M $114.7M
YoY Change 73.92% -172.27% 23.37%
Interest Expense -$14.10M -$13.60M -$15.40M
YoY Change -19.89% -54.82% -24.14%
% of Operating Profit -10.02% -13.43%
Other Income/Expense, Net
YoY Change
Pretax Income $126.7M -$74.84M $99.31M
YoY Change 100.16% -236.91% 36.7%
Income Tax $43.80M -$35.01M $31.87M
% Of Pretax Income 34.57% 32.09%
Net Earnings $82.84M -$39.83M $67.45M
YoY Change 95.84% -212.54% 36.21%
Net Earnings / Revenue 7.67% -21.77% 35.16%
Basic Earnings Per Share $1.66 -$0.79 $1.32
Diluted Earnings Per Share $1.66 -$0.79 $1.32
COMMON SHARES
Basic Shares Outstanding 50.45M shares 50.64M shares 51.02M shares
Diluted Shares Outstanding 50.64M shares 51.17M shares

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.60M $34.20M $33.40M
YoY Change 12.41% 34.65% 49.11%
Cash & Equivalents $32.62M $34.18M $33.37M
Short-Term Investments
Other Short-Term Assets $71.90M $120.1M $115.3M
YoY Change -41.97% -12.97% 5.39%
Inventory $1.280B $1.289B $1.235B
Prepaid Expenses
Receivables $521.6M $452.3M $519.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.906B $1.895B $1.902B
YoY Change 6.98% 7.83% 14.45%
LONG-TERM ASSETS
Property, Plant & Equipment $950.7M $982.7M $963.6M
YoY Change 2.07% 5.43% 7.23%
Goodwill $2.025B $2.064B $1.932B
YoY Change 13.0% 15.91% 11.05%
Intangibles $966.4M $974.0M $967.9M
YoY Change -1.21% -1.47% 2.64%
Long-Term Investments
YoY Change
Other Assets $108.0M $59.74M $49.28M
YoY Change 54.39% -13.53% -27.81%
Total Long-Term Assets $4.050B $4.080B $3.913B
YoY Change 7.38% 8.22% 7.21%
TOTAL ASSETS
Total Short-Term Assets $1.906B $1.895B $1.902B
Total Long-Term Assets $4.050B $4.080B $3.913B
Total Assets $5.956B $5.975B $5.816B
YoY Change 7.26% 8.1% 9.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $429.1M $308.4M $342.0M
YoY Change 35.23% 19.58% 17.86%
Accrued Expenses $411.8M $359.9M $285.2M
YoY Change 50.7% 43.75% 7.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $42.30M $40.90M $39.60M
YoY Change -14.72% -9.91% -19.02%
Total Short-Term Liabilities $883.2M $709.1M $666.8M
YoY Change 37.96% 27.13% 10.47%
LONG-TERM LIABILITIES
Long-Term Debt $1.326B $1.402B $1.517B
YoY Change -11.63% -11.06% 8.4%
Other Long-Term Liabilities $811.5M $827.0M $409.8M
YoY Change 245.67% 231.1% 121.7%
Total Long-Term Liabilities $811.5M $827.0M $409.8M
YoY Change 245.67% 231.1% 121.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $883.2M $709.1M $666.8M
Total Long-Term Liabilities $811.5M $827.0M $409.8M
Total Liabilities $1.695B $1.536B $1.077B
YoY Change 93.69% 90.21% 36.54%
SHAREHOLDERS EQUITY
Retained Earnings $1.686B $1.605B $1.647B
YoY Change 15.84% 13.42% 19.18%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $203.5M $133.8M $112.2M
YoY Change 963.62%
Treasury Stock Shares 3.188M shares 2.010M shares 1.674M shares
Shareholders Equity $2.136B $2.271B $2.354B
YoY Change
Total Liabilities & Shareholders Equity $5.956B $5.975B $5.816B
YoY Change 7.26% 8.1% 9.47%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $82.84M -$39.83M $67.45M
YoY Change 95.84% -212.54% 36.21%
Depreciation, Depletion And Amortization $41.90M $39.81M $39.01M
YoY Change -4.77% -9.74% 2.01%
Cash From Operating Activities $157.3M $51.60M $310.5M
YoY Change 54.52% -600.97% 879.5%
INVESTING ACTIVITIES
Capital Expenditures -$24.80M -$26.10M -$36.00M
YoY Change -44.39% -38.59% -42.95%
Acquisitions
YoY Change
Other Investing Activities $1.600M $112.7M -$11.90M
YoY Change -95.2% -291.02% -440.0%
Cash From Investing Activities -$23.20M $86.50M -$47.90M
YoY Change 105.31% -185.14% -19.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -135.3M -137.8M -253.1M
YoY Change 51.51% -222.38% -911.22%
NET CHANGE
Cash From Operating Activities 157.3M 51.60M 310.5M
Cash From Investing Activities -23.20M 86.50M -47.90M
Cash From Financing Activities -135.3M -137.8M -253.1M
Net Change In Cash -1.200M 300.0K 9.500M
YoY Change -200.0% -57.14% 171.43%
FREE CASH FLOW
Cash From Operating Activities $157.3M $51.60M $310.5M
Capital Expenditures -$24.80M -$26.10M -$36.00M
Free Cash Flow $182.1M $77.70M $346.5M
YoY Change 24.39% 141.3% 265.51%

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CurrentIncomeTaxExpenseBenefit
3108000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5320000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
7115000 USD
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1346000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
178000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
615000 USD
CY2015Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1368600000 USD
CY2016Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1417320000 USD
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
100191000 USD
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
114260000 USD
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-148069000 USD
CY2015Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
-10796000 USD
CY2016Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
-8971000 USD
CY2015Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
17850000 USD
CY2016Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
14131000 USD
CY2014 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-424000 USD
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-7126000 USD
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
747000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
102869000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
105277000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-118302000 USD
CY2015Q1 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
1072578000 USD
CY2016Q1 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
724732000 USD
CY2015Q1 us-gaap Deferred Revenue And Credits Noncurrent
DeferredRevenueAndCreditsNoncurrent
20354000 USD
CY2016Q1 us-gaap Deferred Revenue And Credits Noncurrent
DeferredRevenueAndCreditsNoncurrent
4670000 USD
CY2015Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
33463000 USD
CY2016Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
78932000 USD
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3102000 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1857000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
29020000 USD
CY2015Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
662215000 USD
CY2016Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
733375000 USD
CY2015Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
4171000 USD
CY2016Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
139006000 USD
CY2015Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
243442000 USD
CY2016Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
44231000 USD
CY2015Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
660743000 USD
CY2016Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
576129000 USD
CY2015Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
186172000 USD
CY2016Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
105731000 USD
CY2015Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0 USD
CY2016Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
0 USD
CY2015Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
43989000 USD
CY2016Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
45343000 USD
CY2015Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
241077000 USD
CY2016Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
191061000 USD
CY2015Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1472000 USD
CY2016Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
157246000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
904185000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
620360000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
411947000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
253705000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
342785000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
219120000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
261100000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
62453000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
4812000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
6754000 USD
CY2015Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
144641000 USD
CY2016Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
140781000 USD
CY2016Q1 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Foreign Subsidiaries
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfForeignSubsidiaries
74363000 USD
CY2015Q1 us-gaap Defined Benefit Pension Plan Liabilities Current
DefinedBenefitPensionPlanLiabilitiesCurrent
3940000 USD
CY2016Q1 us-gaap Defined Benefit Pension Plan Liabilities Current
DefinedBenefitPensionPlanLiabilitiesCurrent
3621000 USD
CY2014 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
21208000 USD
CY2015 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
20020000 USD
CY2016 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
17462000 USD
CY2015Q1 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
2156148000 USD
CY2016Q1 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1925685000 USD
CY2015 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
0 USD
CY2016 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
1244000 USD
CY2016 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
DefinedBenefitPlanUltimateHealthCareCostTrendRate
0.0450
CY2015Q1 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1.00
CY2016Q1 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1.00
CY2016Q1 us-gaap Defined Benefit Plan Year That Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearThatRateReachesUltimateTrendRate
2027
CY2014 us-gaap Depreciation
Depreciation
117553000 USD
CY2015 us-gaap Depreciation
Depreciation
108347000 USD
CY2016 us-gaap Depreciation
Depreciation
122197000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
164277000 USD
CY2016 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedForNextFiscalYear
0.0660
CY2014 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments
-1166000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
158323000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
177755000 USD
CY2016 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company generally matches contributions up to 50% of the first 6% of compensation contributed by the participant.
CY2014 us-gaap Dividends Cash
DividendsCash
8344000 USD
CY2015 us-gaap Dividends Cash
DividendsCash
8100000 USD
CY2016 us-gaap Dividends Cash
DividendsCash
7889000 USD
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.99
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.48
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.70
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.28
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.80
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-22.01
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-21.29
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.91
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.46
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.79
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.66
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.68
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.25
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.80
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-22.01
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-21.29
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
5362000 USD
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-642000 USD
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
79000 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.339
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.317
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.096
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.018
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.019
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.005
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.007
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.002
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.007
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.010
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.013
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.009
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.005
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.018
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
-0.002
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.002
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.007
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
114777000 USD
CY2016Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
114149000 USD
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2590000 USD
CY2016 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1629000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
445000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
930000 USD
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
39000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1001000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2016 us-gaap Extended Product Warranty Description
ExtendedProductWarrantyDescription
20
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
22715000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
214538000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
255317000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
388273000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
55386000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
49900000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
49922000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
52278000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
53853000 USD
CY2015Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
146834000 USD
CY2016Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
159511000 USD
CY2014 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 USD
CY2015 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
134693000 USD
CY2016 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-5476000 USD
CY2014Q1 us-gaap Goodwill
Goodwill
1791891000 USD
CY2015Q1 us-gaap Goodwill
Goodwill
2024846000 USD
CY2016Q1 us-gaap Goodwill
Goodwill
1444254000 USD
CY2015 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
255408000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
16529000 USD
CY2015 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-22453000 USD
CY2016 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
482000 USD
CY2014Q2 us-gaap Gross Profit
GrossProfit
188112000 USD
CY2014Q3 us-gaap Gross Profit
GrossProfit
197566000 USD
CY2014Q4 us-gaap Gross Profit
GrossProfit
24068000 USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
237071000 USD
CY2015Q2 us-gaap Gross Profit
GrossProfit
201732000 USD
CY2015Q3 us-gaap Gross Profit
GrossProfit
197742000 USD
CY2015Q4 us-gaap Gross Profit
GrossProfit
195405000 USD
CY2016Q1 us-gaap Gross Profit
GrossProfit
-420767000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
312233000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
349294000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1159147000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
-0.158 USD
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4157000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
22241000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4887000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-60209000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
95167000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
53914000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
46378000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-69500000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-73083000 USD
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
94341000 USD
CY2016 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-1047960000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
105977000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110597000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-111187000 USD
CY2014 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
347000 USD
CY2015 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
-439000 USD
CY2016 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
1930000 USD
CY2014 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.0001
CY2015 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.0004
CY2016 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.00
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.134 USD
CY2016 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
5592000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
183067000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
0.000 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
0.000 USD
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-49536000 USD
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-294360000 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
406000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1589000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6958000 USD
CY2014 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
3218000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1542000 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
2938000 USD
CY2014 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-100929000 USD
CY2015 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-180569000 USD
CY2016 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-87559000 USD
CY2014 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
811000 shares
CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
40000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
265000 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
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81989000 USD
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1305390000 USD
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1100660000 USD
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5956325000 USD
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4835093000 USD
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662279000 USD
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7710000 USD
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8826000 USD
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46150000 USD
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42441000 USD
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680282000 USD
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9500000 USD
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0 USD
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561158000 USD
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135137000 USD
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467332000 USD
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83863000 USD
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206256000 USD
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238697000 USD
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366846000 USD
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3363250000 USD
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3454049000 USD
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15712000 USD
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17931000 USD
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21677000 USD
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24541000 USD
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60540000 USD
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34762000 USD
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33279000 USD
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2035-03-31
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108852000 USD
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37000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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31000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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-27392000 USD
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-44014000 USD
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128800000 USD
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CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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0 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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0 USD
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1384000 USD
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884000 USD
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136024000 USD
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45995000 USD
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CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
27456000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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71060000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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86261000 USD
CY2014 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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1365000 USD
CY2015 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
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OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
3684000 USD
CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
5937000 USD
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CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
21000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
19000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
26358000 USD
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
74763000 USD
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
76210000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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19000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
155000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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11000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
12000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
0 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
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CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-1263000 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
2463000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
384000 USD
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662279000 USD
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13186000 USD
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17683000 USD
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19495000 USD
CY2016Q1 us-gaap Other Sundry Liabilities Noncurrent
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25678000 USD
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19134000 USD
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184380000 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2014 us-gaap Payments Of Dividends
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8344000 USD
CY2015 us-gaap Payments Of Dividends
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8100000 USD
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7889000 USD
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3297000 USD
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6487000 USD
CY2016 us-gaap Payments Of Financing Costs
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185000 USD
CY2014 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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2726000 USD
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673000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
96000 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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94456000 USD
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CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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54051000 USD
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206414000 USD
CY2015 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
110004000 USD
CY2016 us-gaap Payments To Acquire Machinery And Equipment
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80047000 USD
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538381000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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664664000 USD
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0.01
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250000 shares
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0 shares
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23069000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
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41259000 USD
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334851000 USD
CY2016Q1 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
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564713000 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
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451003000 USD
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
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508960000 USD
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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134797000 USD
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3456000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000000 USD
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
45047000 USD
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3167000 USD
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6069000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
329000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
720000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2015Q1 us-gaap Product Warranty Accrual
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CY2016 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recently Issued Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842)</font><font style="font-family:inherit;font-size:10pt;">. ASU 2016-02 requires lessees to recognize assets and liabilities for most leases. ASU 2016-02 is effective for annual periods beginning after December 15, 2018. Early adoption is permitted. Full retrospective application is prohibited. ASU 2016-02's transition provision are applied using a modified retrospective approach at the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating ASU 2016-02 and has not determined the impact it may have on the Company&#8217;s consolidated results of operations, financial position or cash flows nor decided on the method of adoption.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued ASU 2015-17,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;Income Taxes (Subtopic 740-10): Balance Sheet Classification of Deferred Taxes.</font><font style="font-family:inherit;font-size:10pt;"> ASU 2015-17 requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. ASU 2015-17 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is allowed for financial statements that have not been previously issued. Entities may elect to adopt the guidance either prospectively or retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). Effective December 1, 2015, the Company adopted this standard retrospectively to all prior periods and resulting in a reclass of </font><font style="font-family:inherit;font-size:10pt;">$145,352</font><font style="font-family:inherit;font-size:10pt;"> from a current deferred tax asset to a noncurrrent deferred tax liability on the Consolidated Balance Sheet. The adoption did not have a material impact on the Company&#8217;s financial position, results of operations or cash flows. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU 2015-16, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">(Topic 805)</font><font style="font-family:inherit;font-size:10pt;">: </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Accounting for Measurement-Period Adjustments</font><font style="font-family:inherit;font-size:10pt;">. ASU 2015-16 eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. ASU 2015-16 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company adopted this standard effective January 1, 2016. The adoption did not have a material impact on the Company's financial position, results of operations or cash flows. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU 2015-03,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;Interest&#8212;Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.</font><font style="font-family:inherit;font-size:10pt;"> ASU 2015-03 requires companies to present debt issuance costs as a direct deduction from the carrying value of that debt liability. ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued. Entities would apply the new guidance retrospectively to all prior periods. Effective April 1, 2015, the Company adopted this standard. The adoption did not have a material impact on the Company&#8217;s financial position, results of operations or cash flows. In accordance with ASC 2015-15, the Company has excluded debt issuance costs relating to revolving debt instruments as a direct deduction to debt.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued guidance codified in Accounting Standards Codification ("ASC") 606, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition - Revenue from Contracts with Customers</font><font style="font-family:inherit;font-size:10pt;">, which amends the guidance in former ASC 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">. The objective of ASC 606 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance. The principle of ASC 606 is that an entity will recognize revenue at the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled. ASC 606 is effective for interim and annual reporting periods beginning after December 15, 2017 and can be adopted&#160;by the Company using either a full retrospective or modified retrospective approach, with early adoption prohibited. The Company is currently evaluating ASC 606 and has not determined the impact it may have on the Company&#8217;s consolidated results of operations, financial position or cash flows nor decided on the method of adoption.</font></div></div>

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