2017 Q1 Form 10-Q Financial Statement

#000102116217000008 Filed on February 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $919.9M $198.1M $194.4M
YoY Change -13.03% 1.87% 6.24%
Cost Of Revenue $636.9M $653.2M $691.8M
YoY Change -55.85% -5.58% -20.3%
Gross Profit $256.9M $162.0M $195.4M
YoY Change -161.06% -17.09% 711.89%
Gross Profit Margin 27.93% 81.8% 100.5%
Selling, General & Admin $76.30M $66.75M $65.68M
YoY Change -1.04% 1.64% -7.37%
% of Gross Profit 29.7% 41.2% 33.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.80M $44.33M $41.03M
YoY Change -17.55% 8.05% 3.06%
% of Gross Profit 16.27% 27.36% 21.0%
Operating Expenses $118.2M $789.7M $1.040B
YoY Change -7.44% -24.08% 6.28%
Operating Profit -$115.5M $55.17M -$126.3M
YoY Change -90.24% -143.7% 106.07%
Interest Expense -$24.80M -$19.70M -$15.80M
YoY Change 34.05% 24.68% 16.18%
% of Operating Profit -35.71%
Other Income/Expense, Net
YoY Change
Pretax Income -$140.3M $35.47M -$142.0M
YoY Change -88.32% -124.97% 89.8%
Income Tax -$13.40M $6.136M -$53.39M
% Of Pretax Income 17.3%
Net Earnings -$126.8M $29.33M -$88.65M
YoY Change -88.3% -133.09% 122.56%
Net Earnings / Revenue -13.79% 14.81% -45.6%
Basic Earnings Per Share -$2.57 $0.59 -$1.80
Diluted Earnings Per Share -$2.57 $0.59 -$1.80
COMMON SHARES
Basic Shares Outstanding 49.57M shares 49.33M shares 49.23M shares
Diluted Shares Outstanding 49.44M shares 49.23M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.60M $35.50M $41.70M
YoY Change 231.43% -14.87% 21.93%
Cash & Equivalents $69.63M $35.46M $41.69M
Short-Term Investments
Other Short-Term Assets $51.40M $100.8M $85.30M
YoY Change -44.91% 18.17% -28.98%
Inventory $1.340B $1.474B $1.661B
Prepaid Expenses
Receivables $311.8M $307.9M $484.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.773B $1.918B $2.273B
YoY Change 1.74% -15.61% 19.94%
LONG-TERM ASSETS
Property, Plant & Equipment $805.0M $820.2M $915.0M
YoY Change -9.52% -10.37% -6.88%
Goodwill $592.8M $1.408B $2.043B
YoY Change -48.12% -31.1% -1.0%
Intangibles $592.4M $605.2M $709.5M
YoY Change -8.81% -14.69% -27.16%
Long-Term Investments
YoY Change
Other Assets $101.7M $107.8M $108.5M
YoY Change -6.59% -0.65% 81.62%
Total Long-Term Assets $2.642B $2.941B $3.776B
YoY Change -14.58% -22.12% -7.45%
TOTAL ASSETS
Total Short-Term Assets $1.773B $1.918B $2.273B
Total Long-Term Assets $2.642B $2.941B $3.776B
Total Assets $4.415B $4.859B $6.049B
YoY Change -8.7% -19.67% 1.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $481.2M $403.9M $360.0M
YoY Change 17.31% 12.2% 16.73%
Accrued Expenses $674.4M $561.8M $411.4M
YoY Change -1.29% 36.55% 14.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $160.6M $187.7M $42.80M
YoY Change 278.77% 338.55% 4.65%
Total Short-Term Liabilities $1.334B $1.168B $814.2M
YoY Change 17.47% 43.4% 14.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.036B $1.471B $1.638B
YoY Change -24.67% -10.23% 16.86%
Other Long-Term Liabilities $538.0M $558.5M $698.5M
YoY Change -18.77% -20.05% -15.54%
Total Long-Term Liabilities $538.0M $558.5M $698.5M
YoY Change -18.77% -20.05% -15.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.334B $1.168B $814.2M
Total Long-Term Liabilities $538.0M $558.5M $698.5M
Total Liabilities $1.872B $1.726B $1.513B
YoY Change 4.12% 14.1% -1.53%
SHAREHOLDERS EQUITY
Retained Earnings $579.5M $708.3M $1.716B
YoY Change -8.07% -58.72% 6.89%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $183.7M $184.7M $199.9M
YoY Change -7.88% -7.6% 49.4%
Treasury Stock Shares 2.888M shares 2.903M shares 3.143M shares
Shareholders Equity $846.5M $980.8M $2.167B
YoY Change
Total Liabilities & Shareholders Equity $4.415B $4.859B $6.049B
YoY Change -8.7% -19.67% 1.23%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$126.8M $29.33M -$88.65M
YoY Change -88.3% -133.09% 122.56%
Depreciation, Depletion And Amortization $41.80M $44.33M $41.03M
YoY Change -17.55% 8.05% 3.06%
Cash From Operating Activities $454.2M -$41.50M $3.800M
YoY Change 75.64% -1192.11% -92.64%
INVESTING ACTIVITIES
Capital Expenditures -$18.70M -$9.100M -$25.30M
YoY Change 12.65% -64.03% -3.07%
Acquisitions
YoY Change
Other Investing Activities $63.00M $13.10M -$47.70M
YoY Change 1436.59% -127.46% -142.32%
Cash From Investing Activities $44.30M $4.000M -$72.90M
YoY Change -454.4% -105.49% -184.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -465.1M 37.10M 72.70M
YoY Change 74.72% -48.97% -152.76%
NET CHANGE
Cash From Operating Activities 454.2M -41.50M 3.800M
Cash From Investing Activities 44.30M 4.000M -72.90M
Cash From Financing Activities -465.1M 37.10M 72.70M
Net Change In Cash 33.40M -400.0K 3.600M
YoY Change -266.17% -111.11% 1100.0%
FREE CASH FLOW
Cash From Operating Activities $454.2M -$41.50M $3.800M
Capital Expenditures -$18.70M -$9.100M -$25.30M
Free Cash Flow $472.9M -$32.40M $29.10M
YoY Change 71.84% -211.34% -62.55%

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us-gaap Income Tax Examination Description
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us-gaap Income Tax Expense Benefit
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4213000 USD
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421000 USD
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3034000 USD
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2636000 USD
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5936000 USD
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us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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54752000 USD
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0 USD
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us-gaap Line Of Credit Facility Increase Decrease For Period Net
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0 USD
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2015Q4 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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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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CY2016Q4 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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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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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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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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CY2016Q4 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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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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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
0 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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16000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2015Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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2000 USD
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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
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CY2016Q4 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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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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2177000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1423000 USD
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1726000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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2100000 USD
CY2015Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2016Q4 us-gaap Other Liabilities Noncurrent
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558450000 USD
us-gaap Payments Of Dividends
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5916000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
5944000 USD
us-gaap Payments Of Financing Costs
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171000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
14012000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
96000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
182000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
53955000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2015Q4 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
25235000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
63363000 USD
CY2016Q4 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
9157000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
33123000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
664664000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
599089000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
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41259000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
23564000 USD
us-gaap Proceeds From Divestiture Of Businesses
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9000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
131897000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
12901000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1836000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
23185000 USD
CY2016Q1 us-gaap Product Warranty Accrual
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112937000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
108287000 USD
CY2016Q1 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
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123155000 USD
CY2016Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
109334000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
889734000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
820177000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1640000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14000 USD
CY2015Q4 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1450000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1405000 USD
CY2016Q4 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1568000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
4725000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
67455000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
95744000 USD
CY2016Q4 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
155000000 USD
CY2016Q4 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
14132000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
38476000 USD
CY2015Q4 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2016Q4 us-gaap Restructuring Charges
RestructuringCharges
11067000 USD
us-gaap Restructuring Charges
RestructuringCharges
28180000 USD
CY2016Q4 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
3065000 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
10296000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
630368000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
708297000 USD
CY2015Q4 us-gaap Revenues
Revenues
194425000 USD
us-gaap Revenues
Revenues
574050000 USD
CY2016Q4 us-gaap Revenues
Revenues
198052000 USD
us-gaap Revenues
Revenues
561177000 USD
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
913866000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2828278000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
844863000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2612885000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
65676000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
210278000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
66750000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
205222000 USD
CY2016Q4 us-gaap Severance Costs1
SeveranceCosts1
551000 USD
us-gaap Severance Costs1
SeveranceCosts1
1649000 USD
CY2015Q4 us-gaap Share Based Compensation
ShareBasedCompensation
737000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1908000 USD
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
2163000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6140000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y0M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Number Of Shares Period Increase Decrease
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNumberOfSharesPeriodIncreaseDecrease
150000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y0M
CY2016Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
30.86
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49421000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49228000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49213000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49329000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49294000 shares
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
980816000 USD
CY2016Q1 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized
89900000 USD
CY2016Q4 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized
88666000 USD
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3131921 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2903169 shares
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
199415000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
184668000 USD
CY2016Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
8971000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
12493000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9212000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9930000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
239000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
271000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
9212000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
9930000 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49228000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49312000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49440000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

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