2015 Q4 Form 10-K Financial Statement

#000162253616000111 Filed on February 29, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue $1.122B $4.481B $1.353B
YoY Change -17.07% -2.18% 43.63%
Cost Of Revenue $337.0M $1.870B $2.190B
YoY Change -84.61% -16.89% 557.66%
Gross Profit $714.0M $2.611B $738.0M
YoY Change -3.25% 12.01% 21.18%
Gross Profit Margin 63.64% 58.27% 54.55%
Selling, General & Admin $309.0M $1.117B $273.0M
YoY Change 13.19% 4.98% 5.0%
% of Gross Profit 43.28% 42.78% 36.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $160.0M $356.0M $117.0M
YoY Change 36.75% 19.87% -7.14%
% of Gross Profit 22.41% 13.63% 15.85%
Operating Expenses $541.0M $1.993B $467.0M
YoY Change 15.85% 3.05% -60.39%
Operating Profit $94.00M -$39.00M $271.0M
YoY Change -65.31% -109.82% -147.54%
Interest Expense -$65.00M $211.0M -$29.00M
YoY Change 124.14% 70.16% -19.44%
% of Operating Profit -69.15% -10.7%
Other Income/Expense, Net -$129.0M -$118.0M $7.000M
YoY Change -1942.86% -493.33% -53.33%
Pretax Income -$199.0M -$368.0M $249.0M
YoY Change -179.92% -221.45% -137.96%
Income Tax -$76.00M -$27.00M $100.0M
% Of Pretax Income 40.16%
Net Earnings -$62.00M -$341.0M $362.0M
YoY Change -117.13% -183.17% -190.05%
Net Earnings / Revenue -5.53% -7.61% 26.76%
Basic Earnings Per Share -$0.48 -$3.10 $4.33
Diluted Earnings Per Share -$0.48 -$3.10 $4.33
COMMON SHARES
Basic Shares Outstanding 128.5M shares 109.9M shares
Diluted Shares Outstanding 109.9M shares

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $141.0M $141.0M $352.0M
YoY Change -59.94% -59.94%
Cash & Equivalents $141.0M $141.0M $352.0M
Short-Term Investments
Other Short-Term Assets $12.00M $1.686B $26.00M
YoY Change -53.85% 24.8%
Inventory $508.0M $508.0M $455.0M
Prepaid Expenses $52.00M $70.00M
Receivables $205.0M $427.0M $186.0M
Other Receivables $0.00 $0.00 $36.00M
Total Short-Term Assets $2.762B $2.762B $2.701B
YoY Change 2.26% 2.26%
LONG-TERM ASSETS
Property, Plant & Equipment $8.587B $8.587B $6.436B
YoY Change 33.42% 33.42%
Goodwill $0.00 $72.00M
YoY Change -100.0% -16.28%
Intangibles $310.0M $257.0M
YoY Change 20.62%
Long-Term Investments $25.00M $25.00M $30.00M
YoY Change -16.67% -16.67%
Other Assets $43.00M $1.125B $75.00M
YoY Change -42.67% -11.0%
Total Long-Term Assets $484.0M $10.05B $643.0M
YoY Change -24.73% 24.67%
TOTAL ASSETS
Total Short-Term Assets $2.762B $2.762B $2.701B
Total Long-Term Assets $484.0M $10.05B $643.0M
Total Assets $12.81B $12.81B $10.76B
YoY Change 19.04% 19.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $291.0M $291.0M $361.0M
YoY Change -19.39% -19.39%
Accrued Expenses $43.00M $43.00M $16.00M
YoY Change 168.75% 168.75%
Deferred Revenue
YoY Change
Short-Term Debt $608.0M $0.00 $630.0M
YoY Change -3.49%
Long-Term Debt Due $399.0M $1.007B $535.0M
YoY Change -25.42% -13.56%
Total Short-Term Liabilities $2.088B $2.088B $2.890B
YoY Change -27.75% -27.75%
LONG-TERM LIABILITIES
Long-Term Debt $3.787B $3.787B $1.683B
YoY Change 125.01% 125.01%
Other Long-Term Liabilities $91.00M $1.029B $123.0M
YoY Change -26.02% -0.1%
Total Long-Term Liabilities $2.631B $4.816B $2.280B
YoY Change 15.39% 77.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.088B $2.088B $2.890B
Total Long-Term Liabilities $2.631B $4.816B $2.280B
Total Liabilities $4.719B $8.506B $5.170B
YoY Change -8.72% 24.12%
SHAREHOLDERS EQUITY
Retained Earnings -$373.0M $0.00
YoY Change
Common Stock $4.702B $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.303B $4.303B $3.907B
YoY Change
Total Liabilities & Shareholders Equity $12.81B $12.81B $10.76B
YoY Change 19.04% 19.04%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$62.00M -$341.0M $362.0M
YoY Change -117.13% -183.17% -190.05%
Depreciation, Depletion And Amortization $160.0M $356.0M $117.0M
YoY Change 36.75% 19.87% -7.14%
Cash From Operating Activities $37.00M $768.0M -$3.000M
YoY Change -1333.33% 66.23% -98.27%
INVESTING ACTIVITIES
Capital Expenditures $234.0M $451.0M $148.0M
YoY Change 58.11% 8.41% -41.04%
Acquisitions
YoY Change
Other Investing Activities -$508.0M -$22.00M $989.0M
YoY Change -151.37% 15.79% -3510.34%
Cash From Investing Activities -$742.0M -$915.0M $841.0M
YoY Change -188.23% -284.1% -400.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $335.0M
YoY Change 8.41%
Cash From Financing Activities 198.0M -$64.00M -680.0M
YoY Change -129.12% -92.43% -582.27%
NET CHANGE
Cash From Operating Activities 37.00M $768.0M -3.000M
Cash From Investing Activities -742.0M -$915.0M 841.0M
Cash From Financing Activities 198.0M -$64.00M -680.0M
Net Change In Cash -507.0M -$211.0M 158.0M
YoY Change -420.89% -286.73% -150.64%
FREE CASH FLOW
Cash From Operating Activities $37.00M $768.0M -$3.000M
Capital Expenditures $234.0M $451.0M $148.0M
Free Cash Flow -$197.0M $317.0M -$151.0M
YoY Change 30.46% 589.13% -64.39%

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2020
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CY2013 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Declared
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427000000 USD
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CY2014 us-gaap Earnings Per Share Basic
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4.33
CY2014 us-gaap Earnings Per Share Diluted
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1.15
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CY2015 us-gaap Earnings Per Share Diluted
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CY2013 us-gaap Effective Income Tax Rate Continuing Operations
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CY2014 us-gaap Effective Income Tax Rate Continuing Operations
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CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.35
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0.35
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2014 us-gaap Federal Income Tax Expense Benefit Continuing Operations
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92000000 USD
CY2015 us-gaap Federal Income Tax Expense Benefit Continuing Operations
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10000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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33000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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36000000 USD
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CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
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350000000 USD
CY2013 us-gaap Fuel Costs
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CY2015 us-gaap Fuel Costs
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CY2013 us-gaap Gain Loss On Contract Termination
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0 USD
CY2015 us-gaap Gain Loss On Contract Termination
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0 USD
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0 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets1
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315000000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets1
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0 USD
CY2013Q4 us-gaap Goodwill
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CY2014Q4 us-gaap Goodwill
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72000000 USD
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CY2015 us-gaap Goodwill Acquired During Period
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393000000 USD
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CY2015Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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465000000 USD
CY2014 us-gaap Goodwill Impairment Loss
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CY2015 us-gaap Goodwill Impairment Loss
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465000000 USD
CY2014 us-gaap Goodwill Written Off Related To Sale Of Business Unit
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14000000 USD
CY2015 us-gaap Goodwill Written Off Related To Sale Of Business Unit
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CY2014Q4 us-gaap Guarantee Obligations Current Carrying Value
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13000000 USD
CY2015Q4 us-gaap Guarantee Obligations Current Carrying Value
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CY2013 us-gaap Income Loss From Continuing Operations
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CY2014 us-gaap Income Loss From Continuing Operations
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187000000 USD
CY2015 us-gaap Income Loss From Continuing Operations
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CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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303000000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2013 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2014Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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2000000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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94000000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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149000000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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187000000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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96000000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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26000000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2015Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.03
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.13
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.78
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
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2.24
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.15
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.26
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
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-3.10
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2014Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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0.03
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.13
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.78
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
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2.24
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.15
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
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0.26
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2015Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax
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32000000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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11000000 USD
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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7000000 USD
CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
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213000000 USD
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223000000 USD
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
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32000000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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223000000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2013 us-gaap Income Tax Expense Benefit
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CY2014 us-gaap Income Tax Expense Benefit
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116000000 USD
CY2015 us-gaap Income Tax Expense Benefit
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CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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106000000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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5000000 USD
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6000000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
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17000000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2013 us-gaap Income Tax Reconciliation Tax Credits
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8000000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Credits
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0 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits
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9000000 USD
CY2013 us-gaap Income Taxes Paid Net
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189000000 USD
CY2014 us-gaap Income Taxes Paid Net
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310000000 USD
CY2015 us-gaap Income Taxes Paid Net
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5000000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable Trade
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2000000 USD
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CY2014 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2015 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2013 us-gaap Increase Decrease In Customer Deposits
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CY2014 us-gaap Increase Decrease In Customer Deposits
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63000000 USD
CY2013 us-gaap Increase Decrease In Inventories
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31000000 USD
CY2014 us-gaap Increase Decrease In Inventories
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97000000 USD
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4000000 USD
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16000000 USD
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40000000 USD
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49000000 USD
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CY2014 us-gaap Increase Decrease In Other Operating Liabilities
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0 USD
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5000000 USD
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53000000 USD
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CY2015 us-gaap Increase Decrease In Receivables
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22000000 USD
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108000000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
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257000000 USD
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310000000 USD
CY2013 us-gaap Interest Costs Capitalized
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37000000 USD
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23000000 USD
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20000000 USD
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124000000 USD
CY2015 us-gaap Interest Expense
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157000000 USD
CY2014 us-gaap Interest Paid Net
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122000000 USD
CY2015 us-gaap Interest Paid Net
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169000000 USD
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43000000 USD
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55000000 USD
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29000000 USD
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14000000 USD
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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2890000000 USD
CY2015Q4 us-gaap Liabilities Current
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2088000000 USD
CY2014Q4 us-gaap Liabilities Noncurrent
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2280000000 USD
CY2015Q4 us-gaap Liabilities Noncurrent
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2631000000 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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CY2015Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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33000000 USD
CY2015Q4 us-gaap Line Of Credit
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2010000000 USD
CY2015Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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1208000000 USD
CY2014Q4 us-gaap Long Term Debt
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CY2015Q4 us-gaap Long Term Debt
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535000000 USD
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399000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1980000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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396000000 USD
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179000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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1244000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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424000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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5000000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
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1683000000 USD
CY2015Q4 us-gaap Long Term Debt Noncurrent
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3804000000 USD
CY2014Q4 us-gaap Long Term Investments
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980000000 USD
CY2015Q4 us-gaap Long Term Investments
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976000000 USD
CY2013 us-gaap Loss On Contract Termination
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697000000 USD
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68000000 USD
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73000000 USD
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60000000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
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47000000 USD
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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497000000 USD
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72000000 USD
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410000000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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462000000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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768000000 USD
CY2013 us-gaap Net Income Loss
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CY2014Q1 us-gaap Net Income Loss
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CY2014Q2 us-gaap Net Income Loss
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CY2014Q3 us-gaap Net Income Loss
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101000000 USD
CY2014Q4 us-gaap Net Income Loss
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362000000 USD
CY2014 us-gaap Net Income Loss
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410000000 USD
CY2015Q1 us-gaap Net Income Loss
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96000000 USD
CY2015Q2 us-gaap Net Income Loss
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26000000 USD
CY2015Q3 us-gaap Net Income Loss
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CY2015Q4 us-gaap Net Income Loss
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CY2015 us-gaap Net Income Loss
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1000000 USD
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0 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2014Q4 us-gaap Nontrade Receivables Current
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103000000 USD
CY2015Q4 us-gaap Nontrade Receivables Current
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62000000 USD
CY2015Q4 us-gaap Number Of Reportable Segments
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2 segment
us-gaap Number Of Reportable Segments
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CY2013 us-gaap Operating Income Loss
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CY2014Q1 us-gaap Operating Income Loss
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CY2014Q2 us-gaap Operating Income Loss
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16000000 USD
CY2014Q3 us-gaap Operating Income Loss
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189000000 USD
CY2014Q4 us-gaap Operating Income Loss
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271000000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
397000000 USD
CY2015Q1 us-gaap Operating Income Loss
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178000000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
35000000 USD
CY2015Q3 us-gaap Operating Income Loss
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CY2015Q4 us-gaap Operating Income Loss
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94000000 USD
CY2015 us-gaap Operating Income Loss
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CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
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81000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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19000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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5000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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5000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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8000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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18000000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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26000000 USD
CY2014Q4 us-gaap Other Assets Current
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CY2015Q4 us-gaap Other Assets Current
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12000000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
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75000000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
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60000000 USD
CY2014 us-gaap Pension Contributions
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35000000 USD
CY2015 us-gaap Pension Contributions
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74000000 USD
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2013 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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CY2014 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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3000000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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71000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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46000000 USD
CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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49000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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30000000 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
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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 Net Of Tax
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3000000 USD
CY2015 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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CY2013 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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3000000 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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1000000 USD
CY2015 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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0 USD
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140000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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29000000 USD
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CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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1000000 USD
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6000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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6000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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2000000 USD
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4000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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2000000 USD
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123000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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25000000 USD
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CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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18000000 USD
CY2013 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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CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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11000000 USD
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35000000 USD
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46000000 USD
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464000000 USD
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180000000 USD
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2013 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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4303000000 USD
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218000000 USD
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160000000 USD
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31000000 USD
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15000000 USD
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31000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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14000000 USD
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30000000 USD
CY2015 us-gaap Unregulated Operating Revenue
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1095000000 USD
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1027000000 USD
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1243000000 USD
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4788000000 USD
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4184000000 USD
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4520000000 USD
CY2013 us-gaap Utilities Operating Expense Depreciation And Amortization
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299000000 USD
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297000000 USD
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356000000 USD
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53000000 USD
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57000000 USD
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65000000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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83524000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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83524000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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109898000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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83524000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83524000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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109898000 shares
CY2015 us-gaap Write Off Of Deferred Debt Issuance Cost
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12000000 USD
CY2015 us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<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:Arial;font-size:10pt;text-decoration:underline;">Reclassifications</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;">Certain amounts in the prior period financial statements have been reclassified to conform to current period's presentation, including the change in presentation discussed below. The reclassifications did not affect operating income, net income or equity. </font><font style="font-family:inherit;font-size:10pt;"> </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%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In these financial statements, revenue and expense from derivatives is recorded based on Talen Energy's economic hedging strategy. For example, all purchases and sales associated with economic hedging of the sale of energy using contracts accounted for as derivatives are recorded within "Operating Revenues" and all purchases and sales associated with economic hedging of the procurement of fuel or purchasing energy using contracts accounted for as derivatives are recorded as "Operating Expenses" on the Statements of Income. Prior to 2015, Talen Energy classified all non-trading commodity hedge transactions as revenue or expense based upon whether each specific transaction was a sale or purchase, which in certain instances, created losses within revenue and gains within expense. As a result of this change in presentation, there was an equal and offsetting increase of </font><font style="font-family:inherit;font-size:10pt;">$845 million</font><font style="font-family:inherit;font-size:10pt;"> in 2014 and a decrease of </font><font style="font-family:inherit;font-size:10pt;">$19 million</font><font style="font-family:inherit;font-size:10pt;"> in 2013 primarily in "Wholesale energy" and "Energy purchases" on the Statements of Income. </font><font style="font-family:inherit;font-size:10pt;"> </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>
CY2015 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">New Accounting Guidance Pending Adoption</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:underline;">Accounting for Revenue from Contracts with Customers</font></div><div style="line-height:120%;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;">In May 2014, the FASB issued accounting guidance that establishes a comprehensive new model for the recognition of revenue from contracts with customers.&#160;&#160;This model is based on the core principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.</font></div><div style="line-height:120%;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;">This guidance can be applied using either a full retrospective or modified retrospective transition method. In August 2015, the FASB issued guidance that defers the effective date of the standard by one year, which for public business entities, results in initial application of this guidance in annual reporting periods beginning after December 15, 2017 and interim periods within those years. Entities may early adopt the guidance as of the original effective date of the standard, which for public business entities is annual reporting periods beginning after December 15, 2016. Talen Energy expects to adopt this guidance effective January 1, 2018.</font></div><div style="line-height:120%;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;">Talen Energy is currently assessing the impact of adopting this guidance, as well as the transition method it will use.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:underline;">Reporting Uncertainties about an Entity's Ability to Continue as a Going Concern</font></div><div style="line-height:120%;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;">In August 2014, the FASB issued accounting guidance which will require management to assess, for each interim and annual period, whether there are conditions or events that raise substantial doubt about an entity's ability to continue as a going concern.&#160;&#160;Substantial doubt about an entity's ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the financial statements are issued.</font></div><div style="line-height:120%;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;">When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, management is required to disclose information that enables users of the financial statements to understand the principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern and management's evaluation of the significance of those conditions or events.&#160;&#160;If substantial doubt about the entity's ability to continue as a going concern has been alleviated as a result of management's plan, the entity should disclose information that allows the users of the financial statements to understand those plans.&#160;&#160;If the substantial doubt about the entity's ability to continue as a going concern is not alleviated by management's plans, management's plans to mitigate the conditions or events that gave rise to the substantial doubt about the entity's ability to continue as a going concern should be disclosed, as well as a statement that there is substantial doubt the entity's ability to continue as a going concern within one year after the date the financial statements are issued.</font></div><div style="line-height:120%;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;">For all entities, this guidance should be applied prospectively within the annual periods ending after December 15, 2016, and for annual periods and interim periods thereafter.&#160;&#160;Early adoption is permitted.</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;">Talen Energy will adopt this guidance for the annual period ending December 31, 2016. The adoption of this guidance is not expected to have a significant impact.&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:underline;">Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity</font></div><div style="line-height:120%;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;">In November 2014, the FASB issued guidance that clarifies how current accounting guidance should be interpreted when evaluating the economic characteristics and risks of a host contract of a hybrid financial instrument issued in the form of a share.&#160;&#160;This guidance does not change the current criteria for determining whether separation of an embedded derivative feature from a hybrid financial instrument is required.&#160;&#160;Entities are still required to evaluate whether the economic risks of the embedded derivative feature are clearly and closely related to those of the host contract, among other relevant criteria.</font></div><div style="line-height:120%;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;">An entity should consider the substantive terms and features of the entire hybrid financial instrument, including the embedded derivative feature being evaluated for bifurcation, in evaluating the nature of the host contract to determine whether the host contract is more akin to a debt instrument or more akin to an equity instrument.&#160;&#160;An entity should assess the relative strength of the debt-like and equity-like terms and features when determining how to weight those terms and features.</font></div><div style="line-height:120%;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;">For public business entities, this guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and should be applied using a modified retrospective method for existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year the guidance is adopted.&#160;&#160;Early adoption is permitted.&#160;&#160;Retrospective application is permitted but not required.</font></div><div style="line-height:120%;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;">Talen Energy will adopt this guidance effective January 1, 2016.&#160;&#160;The adoption of this guidance is not expected to have a significant impact.</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:Arial;font-size:10pt;text-decoration:underline;">Simplifying the Presentation of Debt Issuance Costs</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;">In April 2015, the FASB issued accounting guidance to simplify the presentation of debt issuance costs by requiring debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying amount of the associated debt liability, consistent with the presentation of debt discounts. Because this guidance did not address the treatment of debt issuance costs related to line-of-credit arrangements, additional guidance was issued in August 2015 stating that an entity may defer and amortize debt issuance costs over the term of a line-of-credit arrangement, regardless of whether there are any related outstanding borrowings.</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;">For public business entities, this guidance should be applied retrospectively for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted.</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;">Talen Energy will adopt this guidance effective January 1, 2016. The adoption of this guidance will require Talen Energy to reclassify debt issuance costs from assets to long-term debt, and is not expected to have a significant impact. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Recognition of Measurement of Financial Assets and Financial Liabilities</font><font style="font-family:inherit;font-size:10pt;"> </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;">In January 2016, the FASB issued accounting guidance that affects the accounting for equity investments, financial liabilities under the fair value option, and the disclosure requirements for financial instruments. This guidance generally requires entities to measure equity investments that are not accounted for under the equity method of accounting and do not result in consolidation at fair value and recognize any changes in fair value in net income. Entities may elect to record equity investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes. The impairment model for equity investments subject to this election is a single-step qualitative assessment performed each quarter. For financial liabilities measured using the fair value option, changes in fair value related to instrument-specific credit risk to be presented separately within OCI. </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;">For public business entities, this guidance should generally be applied prospectively for financial statements issued for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is generally not permitted, although entities may early adopt the provision related to financial liabilities under the fair value option.</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;">Talen Energy expects to adopt this guidance effective January 1, 2018. Upon adoption, an entity will record a cumulative-effect adjustment to beginning retained earnings as of the beginning of the first reporting period in which the guidance is adopted, with the exception that the amendments related to equity securities with readily determined fair values should be applied prospectively. Talen Energy is currently assessing the impact of adopting this guidance, which may be significant for equity securities held in the NDT funds.</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:Arial;font-size:10pt;text-decoration:underline;">Accounting for Leases</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;">In February 2016, the FASB issued accounting guidance that updates the accounting for leases.&#160; The updated guidance will require lessees to recognize assets and liabilities for the rights and obligations created by their leases with lease terms of more than 12 months.&#160; Consistent with current accounting guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance (similar to the current capital lease) or an operating lease.&#160; However, unlike current accounting guidance, which requires only capital leases to be recognized on the balance sheet, the new accounting guidance will require both types of leases to be recognized on the balance sheet.</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 new accounting guidance also will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements.</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 accounting by lessors will remain largely unchanged.&#160; However, the new accounting guidance contains some targeted improvements that are intended to align, where necessary, lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014 and discussed above.</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;">For public business entities, this guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within those years.&#160; Early application is permitted.&#160; In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach.&#160; The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply.&#160; These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date, and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset.&#160; An entity that elects to apply the practical expedients will, in effect, continue to account for leases that commence before the effective date in accordance with previous accounting guidance unless the lease is modified, except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous accounting guidance.</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;">Talen Energy is currently assessing the impact of adopting this guidance and expects to adopt this guidance effective January 1, 2019.</font></div></div>
CY2015 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<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:Arial;font-size:10pt;text-decoration:underline;">Guarantees</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;">Generally, the initial measurement of a guarantee liability is the fair value of the guarantee at its inception. However, there are certain guarantees excluded from the scope of accounting guidance and other guarantees that are not subject to the initial recognition and measurement provisions of accounting guidance that only require disclosure. See Note </font><font style="font-family:inherit;font-size:10pt;">11</font><font style="font-family:inherit;font-size:10pt;"> for further discussion of recorded and unrecorded guarantees. </font></div></div>
CY2015 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:Arial;font-size:10pt;text-decoration:underline;">Use of Estimates</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;"> </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 financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div></div>

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