2014 Q2 Form 10-Q Financial Statement

#000086474914000034 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q1
Revenue $604.7M $556.1M
YoY Change 4.93% 10.72%
Cost Of Revenue $277.8M $269.2M
YoY Change 1.43% 10.73%
Gross Profit $326.9M $286.9M
YoY Change 8.1% 10.71%
Gross Profit Margin 54.06% 51.59%
Selling, General & Admin $154.8M $135.6M
YoY Change 12.12% 10.32%
% of Gross Profit 47.35% 47.26%
Research & Development $76.40M $73.61M
YoY Change -0.2% 22.2%
% of Gross Profit 23.37% 25.66%
Depreciation & Amortization $7.500M $6.193M
YoY Change -83.87% 11.34%
% of Gross Profit 2.29% 2.16%
Operating Expenses $251.2M $230.5M
YoY Change 5.77% 15.63%
Operating Profit $75.70M $56.46M
YoY Change 16.63% -5.67%
Interest Expense -$400.0K -$2.400M
YoY Change -111.43% -2500.0%
% of Operating Profit -0.53% -4.25%
Other Income/Expense, Net $12.80M -$2.088M
YoY Change 238.09% -535.91%
Pretax Income $88.50M $54.37M
YoY Change 28.84% -9.88%
Income Tax $20.40M $5.437M
% Of Pretax Income 23.05% 10.0%
Net Earnings $68.60M $49.81M
YoY Change 25.68% -1.99%
Net Earnings / Revenue 11.34% 8.96%
Basic Earnings Per Share $0.26 $0.20
Diluted Earnings Per Share $0.26 $0.19
COMMON SHARES
Basic Shares Outstanding 259.8M shares 255.2M shares
Diluted Shares Outstanding 264.8M shares 260.3M shares

Balance Sheet

Concept 2014 Q2 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.2M $143.6M
YoY Change 27.96% -31.32%
Cash & Equivalents $165.2M $143.6M
Short-Term Investments
Other Short-Term Assets $39.51M $39.59M
YoY Change -2.6% -44.32%
Inventory $266.7M $260.6M
Prepaid Expenses
Receivables $397.7M $388.9M
Other Receivables $21.50M $14.10M
Total Short-Term Assets $930.9M $890.0M
YoY Change 9.95% 6.75%
LONG-TERM ASSETS
Property, Plant & Equipment $149.6M $105.6M
YoY Change 20.85% 58.8%
Goodwill $1.990B $1.838B
YoY Change 4.13%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $123.6M $95.54M
YoY Change 19.81% 5.56%
Total Long-Term Assets $2.847B $2.676B
YoY Change 2.14% 31.27%
TOTAL ASSETS
Total Short-Term Assets $930.9M $890.0M
Total Long-Term Assets $2.847B $2.676B
Total Assets $3.778B $3.566B
YoY Change 3.96% 24.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.1M $120.8M
YoY Change 10.37% 17.2%
Accrued Expenses $101.1M $93.10M
YoY Change 2.22% 2.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $52.05M $91.12M
YoY Change -52.49% 3.66%
Total Short-Term Liabilities $563.0M $556.5M
YoY Change -3.23% 19.41%
LONG-TERM LIABILITIES
Long-Term Debt $612.6M $829.3M
YoY Change -22.42% 54.96%
Other Long-Term Liabilities $109.5M $77.80M
YoY Change 36.88% 20.81%
Total Long-Term Liabilities $612.6M $829.3M
YoY Change -22.42% 38.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $563.0M $556.5M
Total Long-Term Liabilities $612.6M $829.3M
Total Liabilities $1.424B $1.600B
YoY Change -10.58% 35.01%
SHAREHOLDERS EQUITY
Retained Earnings $1.150B $916.2M
YoY Change 18.51%
Common Stock $1.160B $1.037B
YoY Change 9.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.342B $1.950B
YoY Change
Total Liabilities & Shareholders Equity $3.778B $3.566B
YoY Change 3.96% 24.15%

Cashflow Statement

Concept 2014 Q2 2013 Q1
OPERATING ACTIVITIES
Net Income $68.60M $49.81M
YoY Change 25.68% -1.99%
Depreciation, Depletion And Amortization $7.500M $6.193M
YoY Change -83.87% 11.34%
Cash From Operating Activities $83.40M $37.39M
YoY Change -38.04% -44.74%
INVESTING ACTIVITIES
Capital Expenditures $13.60M $14.93M
YoY Change -155.51% 95.28%
Acquisitions $11.00M $65.19M
YoY Change -35.7%
Other Investing Activities $2.000M -$2.430M
YoY Change -101.75% 3371.43%
Cash From Investing Activities -$14.14M -$76.41M
YoY Change -89.8% -30.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$32.50M $14.44M
YoY Change -45.89%
Debt Paid & Issued, Net $110.8M $104.0M
YoY Change -15.36%
Cash From Financing Activities -$51.13M $28.24M
YoY Change 421.72% -69.61%
NET CHANGE
Cash From Operating Activities $83.40M $37.39M
Cash From Investing Activities -$14.14M -$76.41M
Cash From Financing Activities -$51.13M $28.24M
Net Change In Cash $18.12M -$10.78M
YoY Change -230.39% -121.12%
FREE CASH FLOW
Cash From Operating Activities $83.40M $37.39M
Capital Expenditures $13.60M $14.93M
Free Cash Flow $69.80M $22.46M
YoY Change -56.13% -62.57%

Facts In Submission

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CY2014Q2 us-gaap Net Income Loss
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CY2013Q1 us-gaap Net Income Loss
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CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2014Q2 us-gaap Nonoperating Income Expense
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CY2013Q1 us-gaap Nonoperating Income Expense
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-2088000 USD
CY2014Q2 us-gaap Operating Expenses
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251181000 USD
CY2013Q1 us-gaap Operating Expenses
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CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2014Q2 us-gaap Operating Income Loss
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CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due
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114435000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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8370000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
13383000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
18753000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
24347000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
26067000 USD
CY2014Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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23515000 USD
CY2014Q1 us-gaap Other Assets Current
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CY2014Q2 us-gaap Other Assets Current
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CY2014Q1 us-gaap Other Assets Noncurrent
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CY2014Q2 us-gaap Other Assets Noncurrent
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CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1402000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-25683000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
71000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-9000 USD
CY2014Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
82126000 USD
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
85124000 USD
CY2014Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
728000 USD
CY2013Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
295000 USD
CY2014Q1 us-gaap Other Receivables
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23143000 USD
CY2014Q2 us-gaap Other Receivables
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CY2014Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2050000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2013Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
65192000 USD
CY2014Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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10961000 USD
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
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13574000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
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142975000 USD
CY2013Q1 us-gaap Provision For Doubtful Accounts
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65000 USD
CY2014Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
516000 USD
CY2014Q2 us-gaap Purchase Obligation
PurchaseObligation
137200000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14927000 USD
CY2014Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2014Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q1 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
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CY2014Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation, including certain line items within the Condensed Consolidated Statement of Cash Flows.</font></div></div>
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14437000 USD
CY2014Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32465000 USD
CY2014Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
17000000 USD
CY2013Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
113000000 USD
CY2014Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
18136000 USD
CY2014Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17781000 USD
CY2014Q2 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
18000 USD
CY2014Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
17781000 USD
CY2014Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
18136000 USD
CY2014Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4359000 USD
CY2014Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
340000 USD
CY2014Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4356000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
48932000 USD
CY2014Q2 us-gaap Profit Loss
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68125000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
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149609000 USD
CY2013Q1 us-gaap Repayments Of Long Term Debt
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103981000 USD
CY2014Q2 us-gaap Repayments Of Long Term Debt
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110805000 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
76376000 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
73608000 USD
CY2014Q2 us-gaap Restructuring Charges
RestructuringCharges
337000 USD
CY2013Q1 us-gaap Restructuring Charges
RestructuringCharges
1605000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1150304000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1081695000 USD
CY2014Q2 us-gaap Revenues
Revenues
604721000 USD
CY2013Q1 us-gaap Revenues
Revenues
556111000 USD
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
412787000 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
442569000 USD
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
93319000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
81596000 USD
CY2013Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
83623000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
97354000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8818000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
10112000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.403
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.354
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.006
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.009
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y9M05D
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y1M6D
CY2014Q2 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
382000 USD
CY2013Q1 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
439000 USD
CY2013Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2014Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
2220906000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
2342013000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2353551000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2233982000 USD
CY2013Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2014Q2 us-gaap Subscription Revenue
SubscriptionRevenue
68833000 USD
CY2013Q1 us-gaap Subscription Revenue
SubscriptionRevenue
61728000 USD
CY2014Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
4.3 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3.6 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
38.1 USD
CY2014Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
40.1 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
260299000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
264784000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
255181000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
259789000 shares
CY2014Q2 trmb Numberofuncommittedrevolvingloanfacilities
Numberofuncommittedrevolvingloanfacilities
2
CY2013Q1 trmb Operating Expenses Amortizationof Purchased Intangible Assets
OperatingExpensesAmortizationofPurchasedIntangibleAssets
19651000 USD
CY2014Q2 trmb Operating Expenses Amortizationof Purchased Intangible Assets
OperatingExpensesAmortizationofPurchasedIntangibleAssets
19681000 USD
CY2014Q2 trmb Total Other Noncurrent Liabilities
TotalOtherNoncurrentLiabilities
86373000 USD
CY2014Q1 trmb Total Other Noncurrent Liabilities
TotalOtherNoncurrentLiabilities
80982000 USD
CY2014Q2 dei Amendment Flag
AmendmentFlag
false
CY2014Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--01-02
CY2014Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q2 dei Document Period End Date
DocumentPeriodEndDate
2014-04-04
CY2014Q2 dei Document Type
DocumentType
10-Q
CY2014Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000864749
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
260879910 shares
CY2014Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q2 dei Entity Registrant Name
EntityRegistrantName
TRIMBLE NAVIGATION LTD /CA/
CY2014Q2 dei Trading Symbol
TradingSymbol
TRMB

Files In Submission

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0000864749-14-000034-index-headers.html Edgar Link pending
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0000864749-14-000034.txt Edgar Link pending
0000864749-14-000034-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
trmb-1stquarter2014x10q.htm Edgar Link pending
trmb-1stquarter2014xex311.htm Edgar Link pending
trmb-1stquarter2014xex312.htm Edgar Link pending
trmb-1stquarter2014xex321.htm Edgar Link pending
trmb-1stquarter2014xex322.htm Edgar Link pending
trmb-20140404.xml Edgar Link completed
trmb-20140404.xsd Edgar Link pending
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trmb-20140404_def.xml Edgar Link unprocessable
trmb-20140404_lab.xml Edgar Link unprocessable
trmb-20140404_pre.xml Edgar Link unprocessable