2015 Q1 Form 10-K Financial Statement

#000155673915000005 Filed on March 16, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014
Revenue $406.0M $433.0M $1.815B
YoY Change -10.96% 0.93% 25.69%
Cost Of Revenue $141.0M $136.0M $576.0M
YoY Change -6.0% -3.55% 20.25%
Gross Profit $265.0M $297.0M $1.239B
YoY Change -13.4% 3.13% 28.39%
Gross Profit Margin 65.27% 68.59% 68.26%
Selling, General & Admin $133.0M $170.0M $600.0M
YoY Change -3.62% 5.59% 1.35%
% of Gross Profit 50.19% 57.24% 48.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $106.0M $160.0M $643.0M
YoY Change -34.16% -33.61% -15.95%
% of Gross Profit 40.0% 53.87% 51.9%
Operating Expenses $133.0M $330.0M $600.0M
YoY Change -3.62% -17.91% 1.35%
Operating Profit $26.00M -$41.00M -$4.000M
YoY Change 271.43% -92.88% -99.53%
Interest Expense -$85.00M -$87.00M -$356.0M
YoY Change -5.56% -8.42% 12.66%
% of Operating Profit -326.92%
Other Income/Expense, Net
YoY Change
Pretax Income -$59.00M -$128.0M -$358.0M
YoY Change -28.92% -80.69% -70.04%
Income Tax $0.00 $17.00M $13.00M
% Of Pretax Income
Net Earnings -$59.00M -$145.0M -$371.0M
YoY Change -28.05% -73.92% -54.7%
Net Earnings / Revenue -14.53% -33.49% -20.44%
Basic Earnings Per Share
Diluted Earnings Per Share -$6.082M -$15.10M -$38.65M
COMMON SHARES
Basic Shares Outstanding 17.63M shares 17.63M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $171.0M $171.0M $171.0M
YoY Change -4.47% 9.62% 9.62%
Cash & Equivalents $171.0M $171.0M $171.0M
Short-Term Investments
Other Short-Term Assets $162.0M $175.0M $175.0M
YoY Change -28.63% -25.53% -25.53%
Inventory
Prepaid Expenses
Receivables $142.0M $151.0M $151.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $475.0M $497.0M $497.0M
YoY Change -18.24% -18.39% -18.39%
LONG-TERM ASSETS
Property, Plant & Equipment $54.00M $64.00M $64.00M
YoY Change -41.3% -39.62% -39.62%
Goodwill $315.0M $315.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000M $7.000M $52.00M
YoY Change -45.45% -41.67% -1.89%
Total Long-Term Assets $1.125B $1.225B $1.225B
YoY Change -33.59% -33.96% -33.96%
TOTAL ASSETS
Total Short-Term Assets $475.0M $497.0M $497.0M
Total Long-Term Assets $1.125B $1.225B $1.225B
Total Assets $1.600B $1.722B $1.722B
YoY Change -29.67% -30.11% -30.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.00M $14.00M $14.00M
YoY Change -6.67% -30.0% -30.0%
Accrued Expenses $29.00M $31.00M $157.0M
YoY Change -25.64% -44.64% 8.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $132.0M $124.0M $124.0M
YoY Change -13.73% -19.48% -19.48%
Total Short-Term Liabilities $360.0M $404.0M $404.0M
YoY Change -14.08% -13.3% -13.3%
LONG-TERM LIABILITIES
Long-Term Debt $2.250B $2.272B $2.272B
YoY Change -9.02% -9.88% -9.88%
Other Long-Term Liabilities $2.000M $0.00 $138.0M
YoY Change 100.0% -100.0% -9.21%
Total Long-Term Liabilities $2.252B $2.272B $2.410B
YoY Change -8.97% -9.91% -9.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $360.0M $404.0M $404.0M
Total Long-Term Liabilities $2.252B $2.272B $2.410B
Total Liabilities $2.612B $2.676B $2.844B
YoY Change -9.71% -10.44% -10.2%
SHAREHOLDERS EQUITY
Retained Earnings -$2.650B -$2.591B
YoY Change 15.12% 16.71%
Common Stock $1.555B $1.554B
YoY Change 0.19% 0.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.177B -$1.122B -$1.122B
YoY Change
Total Liabilities & Shareholders Equity $1.600B $1.722B $1.722B
YoY Change -29.67% -30.11% -30.11%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014
OPERATING ACTIVITIES
Net Income -$59.00M -$145.0M -$371.0M
YoY Change -28.05% -73.92% -54.7%
Depreciation, Depletion And Amortization $106.0M $160.0M $643.0M
YoY Change -34.16% -33.61% -15.95%
Cash From Operating Activities $46.00M $83.00M $388.0M
YoY Change -54.0% -24.55% 7.78%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M -$3.000M -$18.00M
YoY Change 0.0% 0.0% -25.0%
Acquisitions
YoY Change
Other Investing Activities $13.00M $13.00M
YoY Change -91.56%
Cash From Investing Activities -$3.000M $10.00M -$5.000M
YoY Change 0.0% -433.33% -103.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $38.00M $367.0M
YoY Change -48.65% -27.33%
Cash From Financing Activities -$43.00M -67.00M -$368.0M
YoY Change -41.89% -63.78% -27.27%
NET CHANGE
Cash From Operating Activities $46.00M 83.00M $388.0M
Cash From Investing Activities -$3.000M 10.00M -$5.000M
Cash From Financing Activities -$43.00M -67.00M -$368.0M
Net Change In Cash $0.00 26.00M $15.00M
YoY Change -100.0% -133.33% -193.75%
FREE CASH FLOW
Cash From Operating Activities $46.00M $83.00M $388.0M
Capital Expenditures -$3.000M -$3.000M -$18.00M
Free Cash Flow $49.00M $86.00M $406.0M
YoY Change -52.43% -23.89% 5.73%

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CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-506000000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-368000000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23000000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
130000000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5000000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
349000000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
360000000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
388000000 USD
CY2012 us-gaap Net Income Loss
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41000000 USD
CY2013Q1 us-gaap Net Income Loss
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CY2014Q2 us-gaap Net Income Loss
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-85000000 USD
CY2014Q3 us-gaap Net Income Loss
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-59000000 USD
CY2014Q1 us-gaap Net Income Loss
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-82000000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-69000000 USD
CY2013Q3 us-gaap Net Income Loss
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-135000000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-556000000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-819000000 USD
CY2013Q2 us-gaap Operating Income Loss
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-146000000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-145000000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-371000000 USD
CY2014Q4 us-gaap Number Of States In Which Entity Operates
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42 state
CY2012 us-gaap Operating Income Loss
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103000000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
19000000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-147000000 USD
CY2013Q4 us-gaap Operating Income Loss
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-576000000 USD
CY2013 us-gaap Operating Income Loss
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-850000000 USD
CY2014Q1 us-gaap Operating Income Loss
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7000000 USD
CY2014Q2 us-gaap Operating Income Loss
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5000000 USD
CY2014Q3 us-gaap Operating Income Loss
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25000000 USD
CY2014Q4 us-gaap Operating Income Loss
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-41000000 USD
CY2014 us-gaap Operating Income Loss
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CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
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62000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
21000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
9000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
13000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
17000000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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0 USD
CY2013Q4 us-gaap Other Assets Noncurrent
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12000000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
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7000000 USD
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
16000000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
-16000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
51000000 USD
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
16000000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-10000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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51000000 USD
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-6000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2012 us-gaap Other Comprehensive Income Finalization Of Pension And Non Pension Postretirement Plan Valuation Tax
OtherComprehensiveIncomeFinalizationOfPensionAndNonPensionPostretirementPlanValuationTax
0 USD
CY2013 us-gaap Other Comprehensive Income Finalization Of Pension And Non Pension Postretirement Plan Valuation Tax
OtherComprehensiveIncomeFinalizationOfPensionAndNonPensionPostretirementPlanValuationTax
1000000 USD
CY2014 us-gaap Other Comprehensive Income Finalization Of Pension And Non Pension Postretirement Plan Valuation Tax
OtherComprehensiveIncomeFinalizationOfPensionAndNonPensionPostretirementPlanValuationTax
1000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-21000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
11000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-39000000 USD
CY2012 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
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-21000000 USD
CY2013 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
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
7000000 USD
CY2014 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
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-43000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
0 USD
CY2013 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
4000000 USD
CY2014 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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4000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
4000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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10000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-51000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
2000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
1000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
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4000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
1000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
0 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-16000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
16000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-10000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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51000000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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-1000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-3000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
0 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-2000000 USD
CY2014 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
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-1000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
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1000000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
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0 USD
CY2012 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-7000000 USD
CY2013 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1000000 USD
CY2014 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-9000000 USD
CY2012 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
0 USD
CY2013 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
0 USD
CY2014 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
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CY2013Q4 us-gaap Other Sundry Liabilities Current
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20000000 USD
CY2014Q4 us-gaap Other Sundry Liabilities Current
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19000000 USD
CY2012 us-gaap Payments Of Debt Issuance Costs
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11000000 USD
CY2013 us-gaap Payments Of Debt Issuance Costs
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1000000 USD
CY2014 us-gaap Payments Of Debt Issuance Costs
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1000000 USD
CY2012 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
23000000 USD
CY2013 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
24000000 USD
CY2014 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
18000000 USD
CY2012 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2000000 USD
CY2013 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
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CY2014 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
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CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
132000000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
127000000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
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27000000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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14000000 USD
CY2014 us-gaap Proceeds From Sale Of Buildings
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13000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
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315000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
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317000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
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106000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
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64000000 USD
CY2013 us-gaap Proceeds From Sale Of Buildings
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0 USD
CY2014Q4 us-gaap Proceeds From Sale Of Buildings
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13000000 USD
CY2013Q4 us-gaap Prepaid Pension Costs
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41000000 USD
CY2014Q4 us-gaap Prepaid Pension Costs
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45000000 USD
CY2012 us-gaap Proceeds From Sale Of Buildings
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0 USD
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
33000000 USD
CY2013 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
23000000 USD
CY2014 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
26000000 USD
CY2012 us-gaap Reorganization Items
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0 USD
CY2013 us-gaap Reorganization Items
ReorganizationItems
38000000 USD
CY2014 us-gaap Reorganization Items
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0 USD
CY2012 us-gaap Repayments Of Long Term Debt
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401000000 USD
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
505000000 USD
CY2014 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
367000000 USD
CY2014 us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
1000 employee
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2012 us-gaap Sales Revenue Net
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1278000000 USD
CY2013Q1 us-gaap Sales Revenue Net
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288000000 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
335000000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
392000000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
429000000 USD
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
1444000000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
456000000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
474000000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
452000000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
433000000 USD
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
1815000000 USD
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
280000000 USD
CY2013 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
383000000 USD
CY2014 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
436000000 USD
CY2012 us-gaap Severance Costs1
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5000000 USD
CY2013 us-gaap Severance Costs1
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32000000 USD
CY2014 us-gaap Severance Costs1
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56000000 USD
CY2012 us-gaap Share Based Compensation
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5000000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
4000000 USD
CY2014 us-gaap Share Based Compensation
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4000000 USD
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
5960 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
20360 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
356138 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
213246 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
157292 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
52335 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.07
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
521249 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5422000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
408757000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
442133 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
909799 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.15
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.17
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.30
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.25
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.42
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y7M21D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M22D
CY2014Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Estimated Range Of Change Upper Bound
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3000000 USD
CY2013Q2 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
6900000 shares
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1248 shares
CY2013Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
82000000 USD
CY2013 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
82000000 USD
CY2011Q4 us-gaap Stockholders Equity
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CY2012Q4 us-gaap Stockholders Equity
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20000000 USD
CY2013Q4 us-gaap Stockholders Equity
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CY2014Q4 us-gaap Stockholders Equity
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CY2013Q4 us-gaap Taxes Payable Current
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21000000 USD
CY2014Q4 us-gaap Taxes Payable Current
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16000000 USD
CY2014Q4 us-gaap Unbilled Contracts Receivable
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1000000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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0 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
45000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
1000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
1000000 USD
CY2012 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
1000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
-3000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
-1000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
13000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-8000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
33000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
11000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
12000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
10000000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
46000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
37000000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
51000000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2012 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
62000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
39000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
8000000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14900000 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17300000 shares
CY2014 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Advertising Costs</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;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advertising costs, which includes media, promotional, branding and on-line advertising, are included in selling expense in the Company&#8217;s consolidated statements of comprehensive income (loss), and are expensed as incurred. </font></div></div>
CY2014 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentrations of Credit Risk</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;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments subject to concentrations of credit risk consist primarily of temporary cash investments, short-term investments, trade receivables, and debt. Company policy requires the deposit of temporary cash investments with major financial institutions. </font></div><div style="line-height:120%;text-align:left;text-indent:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Approximately </font><font style="font-family:inherit;font-size:10pt;">86%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s 2014 revenue is derived from the sale of advertising to local small and medium sized businesses that advertise in limited geographical areas. These advertisers are usually billed in monthly installments after the advertising has been published and, in turn, make monthly payments, requiring the Company to extend credit to these customers. This practice is widely accepted within the industry. While most new advertisers and those wanting to expand their current media solutions are subject to a credit review, the default rates of small and medium sized companies are generally higher than those of larger companies. </font></div><div style="line-height:120%;text-align:left;text-indent:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The remaining </font><font style="font-family:inherit;font-size:10pt;">14%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s 2014 revenue is derived from the sale of advertising to larger businesses that advertise regionally or nationally. Contracted certified marketing representatives ("CMRs") purchase advertising on behalf of these advertisers. Payment for advertising is due when the advertising is published and is received directly from the CMRs, net of the CMRs' commission. The CMRs are responsible for billing and collecting from the advertisers. While the Company still has exposure to credit risks, historically, the losses from this client set have been less than that of local advertisers.</font></div></div>
CY2014 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<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-weight:bold;">Contingencies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Litigation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is subject to various lawsuits and other claims in the normal course of business. In addition, from time to time, the Company receives communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which the Company operates.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company establishes reserves for the estimated losses on specific contingent liabilities, for regulatory and legal actions where the Company deems a loss to be probable and the amount of the loss can be reasonably estimated. In other instances, the Company is not able to make a reasonable estimate of liability because of the uncertainties related to the outcome or the amount or range of potential loss. The Company does not expect that the ultimate resolution of pending regulatory and legal matters in future periods, including the matters described below will have a material adverse effect on its statements of comprehensive (loss).</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 20, 2009, a lawsuit was filed in the district court of Tarrant County, Texas, against certain officers and directors of SuperMedia (but not against SuperMedia or its subsidiaries) on behalf of Jack B. Corwin as Trustee of The Jack B. Corwin Revocable Trust, and Charitable Remainder Stewardship Company of Nevada, and as Trustee of the Jack B. Corwin 2006 Charitable Remainder Unitrust (the "Corwin" case). The Corwin case generally alleges that at various times in 2008 and 2009, the named SuperMedia officers and directors made false and misleading representations, or failed to state material facts, which made their statements misleading regarding SuperMedia's financial performance and condition. The suit brings fraud and negligent misrepresentation claims and alleges violations of the Texas Securities Act and Section 27 of the Texas Business Commerce Code. The plaintiffs seek unspecified compensatory damages, exemplary damages, and reimbursement for litigation expenses. On June 3, 2009, the plaintiffs filed an amended complaint with the same allegations adding </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> additional SuperMedia directors as party defendants. On June 10, 2010, the court in the Buettgen case (a separate case involving SuperMedia, now settled) granted SuperMedia's motion staying discovery in the Corwin case pursuant to the provisions of the Private Securities Litigation Reform Act. After plaintiffs replaced their counsel, the plaintiffs filed several amendments to the complaint. All the SuperMedia defendants refiled motions for summary judgment claiming that there is no evidence of any wrongdoing elicited during the discovery phase and that the plaintiffs lack standing. Those motions were denied. After a four week jury trial, the jury returned a unanimous defense verdict. A final take nothing judgment in favor of all the defendants was entered on December 19, 2014, and no appeal was filed. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On November 25, 2009, </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> retirees brought a putative class action lawsuit in the U.S. District Court for the Northern District of Texas, Dallas Division, against both the employee benefits committee and pension plans of Verizon and the employee benefits committee ("EBC") and pension plans of SuperMedia.&#160; All three named plaintiffs are receiving the single life monthly annuity pension benefits. All complain that Verizon transferred them against their will from the Verizon pension plans to SuperMedia pension plans at or near the SuperMedia's spin-off from Verizon.&#160; The complaint alleges that both the Verizon and SuperMedia defendants failed to provide requested plan documents, which would entitle the plaintiffs to statutory penalties under the Employee Retirement Income Securities Act ("ERISA"); that both the Verizon and SuperMedia defendants breached their fiduciary duty for refusal to disclose pension plan information; and other class action counts aimed solely at the Verizon defendants. The plaintiffs seek class action status, statutory penalties, damages and a reversal of the employee transfers.&#160; The SuperMedia defendants filed their motion to dismiss the entire complaint on March 10, 2010. On October 18, 2010, the court ruled on the pending motion dismissing all the claims against the SuperMedia pension plans and all of the claims against SuperMedia's EBC relating to the production of documents and statutory penalties for failure to produce same. The only claims that remained against SuperMedia were procedural ERISA claims against SuperMedia's EBC. On November 1, 2010, SuperMedia's EBC filed its answer to the complaint. On November 4, 2010, SuperMedia's EBC filed a motion to dismiss </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> of the </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> remaining procedural ERISA claims against the EBC. Pursuant to an agreed order, the plaintiffs obtained class certification against the Verizon defendants. After obtaining permission from the court, the plaintiffs filed another amendment to the complaint, alleging a new count against SuperMedia's EBC. SuperMedia's EBC filed another motion to dismiss the amended complaint and filed a summary judgment motion before the deadline set by the scheduling order. On March 26, 2012, the court denied SuperMedia's EBC's motion to dismiss. On September 16, 2013, the court granted the defendants&#8217; summary judgments, denied the plaintiffs&#8217; summary judgment, and entered a take nothing judgment in favor of the SuperMedia EBC. Plaintiffs filed an appeal to the 5th U.S. Circuit Court of Appeals. The briefing is complete and oral argument was held on September 4, 2014. On October 14, 2014, the 5th Circuit Court of Appeals affirmed the decision of the trial court. Plaintiffs filed a petition for a writ of certiorari to the U.S. Supreme Court on February 17, 2015. The Company plans to honor its indemnification obligations and vigorously defend the lawsuit on the defendants' behalf.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 10, 2009, a former employee with a history of litigation against SuperMedia, filed a putative class action lawsuit in the U.S. District Court for the Northern District of Texas, Dallas Division, against certain of SuperMedia's current and former officers, directors and members of SuperMedia's EBC. The complaint attempts to recover alleged losses to the various savings plans that were allegedly caused by the breach of fiduciary duties in violation of ERISA by the defendants in administrating the plans from November 17, 2006 to March 31, 2009. The complaint alleges that: (i) the defendants wrongfully allowed all the plans to invest in Idearc common stock, (ii) the defendants made material misrepresentations regarding SuperMedia's financial performance and condition, (iii) the defendants had divided loyalties, (iv) the defendants mismanaged the plan assets, and (v) certain defendants breached their duty to monitor and inform the EBC of required disclosures. The plaintiffs are seeking unspecified compensatory damages and reimbursement for litigation expenses. At this time, a class has not been certified. The plaintiffs filed a consolidated complaint. SuperMedia filed a motion to dismiss the entire complaint on June 22, 2010. On March 16, 2011, the court granted the SuperMedia defendants' motion to dismiss the entire complaint; however, the plaintiffs have repleaded their complaint. SuperMedia's defendants filed another motion to dismiss the new complaint. On March 15, 2012, the court granted the SuperMedia defendants' second motion dismissing the case with prejudice. The plaintiffs appealed the dismissal. On July 9, 2013, the 5th U.S. Circuit Court of Appeals issued a decision affirming the dismissal of the trial court. On July 23, 2013, plaintiffs filed a Petition to the 5th U.S. Circuit Court of Appeals for a rehearing en banc which has been denied. The plaintiffs filed a Petition for Writ of Certiorari to the United States Supreme Court. After the Supreme Court&#8217;s decision in </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fifth Third Bancorp v. Dudenhoeffer</font><font style="font-family:inherit;font-size:10pt;">, the court granted plaintiffs&#8217; writ, vacated the 5th U.S. Circuit Court of Appeals opinion and remanded the case to the 5th U.S. Circuit Court of Appeals to rule in conformity with the </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fifth Third</font><font style="font-family:inherit;font-size:10pt;"> opinion. Subsequently, the case has been remanded to the trial court. On February 17, 2015, the plaintiffs filed their second amended complaint with the same basic allegations as the first complaint. The Company plans to honor its indemnification obligations and vigorously defend the lawsuit on the defendants' behalf.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On July 1, 2011, several former employees filed a Fair Labor Standards Act ("FLSA") collective action against SuperMedia, all its subsidiaries, the current chief executive officer and the former chief executive officer in the U.S. District Court, Northern District of Texas, Dallas Division. The complaint alleges that SuperMedia improperly calculated the rate of pay when it paid overtime to its hourly sales employees. On July 29, 2011, SuperMedia filed a motion to dismiss the complaint. In response, the plaintiffs amended their complaint to allege that the individual defendants had "off-the-clock" claims for unpaid overtime. Subsequently, SuperMedia amended its motion to dismiss in light of the new allegations. On October 25, 2011, the Plaintiffs filed a motion to conditionally certify a collective action and to issue notice. On March 29, 2012, the court denied the SuperMedia's motion to dismiss and granted the plaintiffs' motion to conditionally certify the class. SuperMedia's motion seeking permission to file an interlocutory appeal of the order was denied and a notice has been sent to SuperMedia's former and current employees. The time for opting into the class has expired. On February 24, 2014, SuperMedia filed a motion to decertify. The plaintiffs that failed to file their opt-ins on time have filed a companion case with the same allegations. In early August, 2014, terms of a tentative settlement were reached by the parties; the settlement has been approved by the court, distribution to the class has been made, and the matter has been dismissed with prejudice.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 29, 2013, a former unsecured note holder that was impacted by the bankruptcy of SuperMedia, in 2009, filed a notice and summons against Verizon Communications and the former chief financial officer ("CFO") of SuperMedia in the Supreme Court of the State of New York, New York County. The filing alleges that Verizon improperly formed SuperMedia prior to the spin-off by not having the requisite number of directors under Delaware law. The plaintiff alleges that since SuperMedia was improperly formed, the former CFO did not have the authority to execute the note on behalf of SuperMedia and accordingly both Verizon and the former CFO are liable for the unpaid principal and interest when the notes were impacted by the bankruptcy. The Company plans to honor its indemnification obligation and vigorously defend the lawsuit on the defendant's behalf.</font></div></div>
CY2014 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;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s financial statements requires management to make estimates and judgments that affect the reported amount of assets and liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Examples of significant estimates include the allowance for doubtful accounts, the recoverability and fair value determination of property, plant and equipment, goodwill, intangible assets and other long-lived assets, pension assumptions and estimates of selling prices that are used for multiple element arrangements. </font></div></div>

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