2019 Q4 Form 10-Q Financial Statement

#000132069519000172 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $1.140B $1.057B $1.394B
YoY Change -23.06% -24.15% -9.99%
Cost Of Revenue $913.8M $871.0M $903.9M
YoY Change -2.51% -3.64% -29.88%
Gross Profit $225.1M $186.3M $214.0M
YoY Change -10.5% -12.94% -17.6%
Gross Profit Margin 19.75% 17.62% 15.35%
Selling, General & Admin $117.0M $112.7M $133.8M
YoY Change 2.09% -15.77% -17.66%
% of Gross Profit 51.98% 60.49% 62.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.30M $33.30M $37.80M
YoY Change -41.04% -11.9% -17.29%
% of Gross Profit 23.68% 17.87% 17.66%
Operating Expenses $134.6M $241.9M $175.0M
YoY Change 4.26% 38.23% -13.41%
Operating Profit $90.50M -$55.60M $39.00M
YoY Change -26.06% -242.56% -32.29%
Interest Expense -$123.9M $27.30M $26.10M
YoY Change 132.02% 4.6% -16.88%
% of Operating Profit -136.91% 66.92%
Other Income/Expense, Net $110.3M -$41.80M -$23.80M
YoY Change -1170.87% 75.63% -13.45%
Pretax Income $19.90M -$97.40M $15.20M
YoY Change -786.21% -740.79% -49.5%
Income Tax $5.100M -$36.40M $3.000M
% Of Pretax Income 25.63% 19.74%
Net Earnings $15.50M -$177.8M $2.600M
YoY Change -211.51% -6938.46% -90.97%
Net Earnings / Revenue 1.36% -16.82% 0.19%
Basic Earnings Per Share $0.27 -$3.16 $0.05
Diluted Earnings Per Share $0.27 -$3.16 $0.05
COMMON SHARES
Basic Shares Outstanding 56.21M shares 56.30M shares 56.30M shares
Diluted Shares Outstanding 56.30M shares 56.70M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.3M $45.10M $68.20M
YoY Change 23.13% -33.87% -53.0%
Cash & Equivalents $202.3M $45.10M $52.80M
Short-Term Investments $15.40M
Other Short-Term Assets $202.6M $215.9M $92.50M
YoY Change -62.95% 133.41% -16.21%
Inventory $544.0M $702.8M $999.3M
Prepaid Expenses
Receivables $243.0M $196.2M $200.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.220B $1.269B $1.446B
YoY Change -27.32% -12.22% -20.79%
LONG-TERM ASSETS
Property, Plant & Equipment $1.045B $1.080B $1.272B
YoY Change -8.5% -15.09% -1.37%
Goodwill $2.107B $2.111B $2.168B
YoY Change -0.03% -2.62% -11.84%
Intangibles $554.7M $576.9M $722.3M
YoY Change -15.49% -20.13% -32.39%
Long-Term Investments
YoY Change
Other Assets $37.40M $40.50M $36.20M
YoY Change -16.33% 11.88% -16.2%
Total Long-Term Assets $3.920B $3.992B $4.199B
YoY Change -0.79% -4.92% -13.62%
TOTAL ASSETS
Total Short-Term Assets $1.220B $1.269B $1.446B
Total Long-Term Assets $3.920B $3.992B $4.199B
Total Assets $5.139B $5.261B $5.644B
YoY Change -8.7% -6.79% -15.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $508.4M $529.6M $562.6M
YoY Change -12.03% -5.87% -13.78%
Accrued Expenses $273.2M $295.3M $188.3M
YoY Change 8.2% 56.82% 72.91%
Deferred Revenue $37.90M
YoY Change -17.07%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.30M $11.70M $10.40M
YoY Change 1175.0% 12.5% -85.58%
Total Short-Term Liabilities $813.4M $851.4M $761.3M
YoY Change -2.89% 11.84% -10.0%
LONG-TERM LIABILITIES
Long-Term Debt $2.092B $2.158B $2.333B
YoY Change -8.95% -7.51% -10.96%
Other Long-Term Liabilities $143.4M $149.5M $186.8M
YoY Change -14.74% -19.97% -6.88%
Total Long-Term Liabilities $143.4M $149.5M $186.8M
YoY Change -14.74% -19.97% -6.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $813.4M $851.4M $761.3M
Total Long-Term Liabilities $143.4M $149.5M $186.8M
Total Liabilities $3.309B $3.455B $3.455B
YoY Change -4.63% 0.02% -15.5%
SHAREHOLDERS EQUITY
Retained Earnings -$157.0M -$172.5M $198.5M
YoY Change -176.96% -186.9% -64.23%
Common Stock $2.155B $2.149B $2.137B
YoY Change 0.88% 0.59% 1.68%
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.30M $83.30M $70.90M
YoY Change 0.0% 17.49%
Treasury Stock Shares
Shareholders Equity $1.831B $1.806B $2.210B
YoY Change
Total Liabilities & Shareholders Equity $5.139B $5.261B $5.644B
YoY Change -8.7% -6.79% -15.58%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $15.50M -$177.8M $2.600M
YoY Change -211.51% -6938.46% -90.97%
Depreciation, Depletion And Amortization $53.30M $33.30M $37.80M
YoY Change -41.04% -11.9% -17.29%
Cash From Operating Activities $262.0M $36.30M $39.20M
YoY Change 11.35% -7.4% -161.25%
INVESTING ACTIVITIES
Capital Expenditures -$42.00M -$30.80M -$30.20M
YoY Change -45.95% 1.99% -15.41%
Acquisitions
YoY Change
Other Investing Activities $2.000M $75.40M $17.20M
YoY Change -87.1% 338.37% 237.25%
Cash From Investing Activities -$40.00M $44.60M -$13.00M
YoY Change -35.69% -443.08% -57.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.60M -99.90M -72.80M
YoY Change 8.97% 37.23% -238.4%
NET CHANGE
Cash From Operating Activities 262.0M 36.30M 39.20M
Cash From Investing Activities -40.00M 44.60M -13.00M
Cash From Financing Activities -65.60M -99.90M -72.80M
Net Change In Cash 156.4M -19.00M -46.60M
YoY Change 38.53% -59.23% 10.95%
FREE CASH FLOW
Cash From Operating Activities $262.0M $36.30M $39.20M
Capital Expenditures -$42.00M -$30.80M -$30.20M
Free Cash Flow $304.0M $67.10M $69.40M
YoY Change -2.88% -3.31% -345.23%

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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q3 us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Earnings Per Share Basic
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CY2018Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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56300000 shares
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56200000 shares
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56400000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56300000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56200000 shares
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56400000 shares
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CY2018Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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6500000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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8500000 USD
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 Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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16300000 USD
CY2018Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
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400000 USD
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CY2018Q2 us-gaap Net Income Loss
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CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6900000 USD
CY2018Q2 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Net Income Loss
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6600000 USD
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CY2018Q3 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Net Income Loss
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CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q2 us-gaap Stockholders Equity
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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5700000 USD
CY2019Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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us-gaap Depreciation Depletion And Amortization
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157300000 USD
us-gaap Depreciation Depletion And Amortization
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167900000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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71700000 USD
us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Asset Impairment Charges
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88000000.0 USD
us-gaap Asset Impairment Charges
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0 USD
us-gaap Share Based Compensation
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17500000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Long Term Lines Of Credit
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107600000 USD
us-gaap Payments To Acquire Intangible Assets
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19300000 USD
us-gaap Payments To Acquire Intangible Assets
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16400000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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5800000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
300700000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
39900000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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us-gaap Net Cash Provided By Used In Operating Activities
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45700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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270500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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102100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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4400000 USD
us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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30800000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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0 USD
us-gaap Payments For Proceeds From Other Investing Activities
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1100000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Share Based Compensation
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us-gaap Gain Loss On Sale Of Business
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us-gaap Gain Loss On Sale Of Business
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14300000 USD
us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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5800000 USD
us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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37200000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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24200000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019Q3 us-gaap Finance Lease Interest Expense
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Finance Lease Principal Payments
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us-gaap Finance Lease Principal Payments
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
42200000 USD
ths Proceeds Related To Stock Based Award Activities
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ths Proceeds Related To Stock Based Award Activities
ProceedsRelatedToStockBasedAwardActivities
4700000 USD
ths Payments Related To Stock Based Award Activities
PaymentsRelatedToStockBasedAwardActivities
5500000 USD
ths Payments Related To Stock Based Award Activities
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
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ths Accrued Purchases Of Property And Equipment
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30900000 USD
ths Accrued Purchases Of Property And Equipment
AccruedPurchasesOfPropertyAndEquipment
22800000 USD
ths Accrued Other Intangible Assets
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3700000 USD
ths Accrued Other Intangible Assets
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CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019Q3 us-gaap Restructuring Charges
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CY2018Q3 us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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4300000 USD
us-gaap Finance Lease Interest Expense
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us-gaap Other Restructuring Costs
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ths Lessee Operatingand Finance Leases Optionto Extend Term
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ths Lessee Operatingand Finance Leases Optionto Terminate Term
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CY2019Q3 us-gaap Operating Lease Right Of Use Asset
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CY2019Q3 us-gaap Finance Lease Right Of Use Asset
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CY2019Q3 ths Leases Rightof Use Asset
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32900000 USD
CY2019Q3 us-gaap Finance Lease Liability Current
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1200000 USD
CY2019Q3 ths Lease Liability Current
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34100000 USD
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
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166200000 USD
CY2019Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2000000.0 USD
CY2019Q3 ths Lease Liability Noncurrent
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168200000 USD
CY2019Q3 ths Lease Liability
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202300000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
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CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P2Y7M6D
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us-gaap Operating Lease Cost
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31300000 USD
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us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1200000 USD
CY2019Q3 ths Financing Lease Cost
FinancingLeaseCost
500000 USD
ths Financing Lease Cost
FinancingLeaseCost
1300000 USD
CY2019Q3 us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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CY2019Q3 us-gaap Lease Cost
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10200000 USD
us-gaap Lease Cost
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36700000 USD
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10100000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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34600000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
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600000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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24700000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
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100000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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108400000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2019Q3 us-gaap Finance Lease Liability Payments Due
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45300000 USD
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200000 USD
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3200000 USD
ths Lessee Operating Lease Optionto Extend Amount
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3000000.0 USD
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1500000 USD
ths Numberof Agreements
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2 agreement
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P60D
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0 USD
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177000000.0 USD
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us-gaap Gain Loss On Sale Of Accounts Receivable
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136600000 USD
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234200000 USD
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381400000 USD
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166100000 USD
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204000000.0 USD
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12200000 USD
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15200000 USD
CY2018Q3 ths Disposal Group Including Discontinued Operation Sellingand Distribution Expense
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21600000 USD
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51100000 USD
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DisposalGroupIncludingDiscontinuedOperationSellingandDistributionExpense
59500000 USD
CY2019Q3 ths Disposal Group Including Discontinued Operation Asset Impairment
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10700000 USD
CY2018Q3 ths Disposal Group Including Discontinued Operation Asset Impairment
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0 USD
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us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
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CY2019Q3 ths Disposal Group Including Discontinued Operation Operating Lease Right Of Use Asset
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CY2019Q3 us-gaap Construction In Progress Gross
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CY2019Q3 us-gaap Depreciation
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CY2018Q3 us-gaap Depreciation
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us-gaap Depreciation
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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56400000 shares
CY2019Q3 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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0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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56700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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56400000 shares
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1600000 shares
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CY2019Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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10000000.0 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Business Exit Costs1
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us-gaap Business Exit Costs1
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us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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0 USD
us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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14300000 USD
CY2019Q3 ths Other Operating Income Expense Other Net
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200000 USD
CY2018Q3 ths Other Operating Income Expense Other Net
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OtherOperatingIncomeExpenseOtherNet
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CY2018Q3 us-gaap Other Operating Income Expense Net
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us-gaap Other Operating Income Expense Net
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us-gaap Other Operating Income Expense Net
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2800000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
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12200000 USD
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Liability
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64900000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability
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20800000 USD
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CY2018Q3 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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3800000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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5800000 USD
CY2019Q3 us-gaap Gain Loss On Sale Of Derivatives
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200000 USD
CY2018Q3 us-gaap Gain Loss On Sale Of Derivatives
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3100000 USD
us-gaap Gain Loss On Sale Of Derivatives
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6500000 USD
us-gaap Gain Loss On Sale Of Derivatives
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