2019 Q3 Form 10-Q Financial Statement

#000074683819000100 Filed on October 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $552.1M $760.9M $688.3M
YoY Change -19.79% 2.16% 3.3%
Cost Of Revenue $412.1M $110.7M $534.5M
YoY Change -22.9% -80.16% -5.01%
Gross Profit $140.0M $178.4M $153.8M
YoY Change -8.97% -4.5% 48.46%
Gross Profit Margin 25.36% 23.45% 22.34%
Selling, General & Admin $84.70M $65.80M $90.90M
YoY Change -6.82% -32.65% -7.06%
% of Gross Profit 60.5% 36.88% 59.1%
Research & Development $5.900M $10.10M $7.100M
YoY Change -16.9% 36.49% -18.39%
% of Gross Profit 4.21% 5.66% 4.62%
Depreciation & Amortization $37.90M $41.40M $40.60M
YoY Change -6.65% 2.22% 6.56%
% of Gross Profit 27.07% 23.21% 26.4%
Operating Expenses $90.60M $75.90M $98.00M
YoY Change -7.55% -27.78% -7.98%
Operating Profit $49.40M $102.5M $55.80M
YoY Change -11.47% 25.46% -2024.14%
Interest Expense $15.20M -$15.80M $15.90M
YoY Change -4.4% -3.66% -3.05%
% of Operating Profit 30.77% -15.41% 28.49%
Other Income/Expense, Net -$49.20M -$18.80M -$17.70M
YoY Change 177.97% -50.4% -16.11%
Pretax Income -$15.00M $38.10M $22.20M
YoY Change -167.57% 39.05% -154.95%
Income Tax $10.40M -$4.400M $15.20M
% Of Pretax Income -11.55% 68.47%
Net Earnings -$13.20M $25.00M $6.100M
YoY Change -316.39% -50.5% -114.84%
Net Earnings / Revenue -2.39% 3.29% 0.89%
Basic Earnings Per Share -$0.23 $0.49 $0.12
Diluted Earnings Per Share -$0.23 $0.41 $0.12
COMMON SHARES
Basic Shares Outstanding 58.25M shares 51.02M shares
Diluted Shares Outstanding 58.25M shares 51.72M shares

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $425.0M $605.0M $516.0M
YoY Change -17.64% -17.57% -13.86%
Cash & Equivalents $425.4M $605.0M $516.1M
Short-Term Investments
Other Short-Term Assets $123.0M $130.0M $103.0M
YoY Change 19.42% 3.17% -13.45%
Inventory $28.00M $27.30M $23.00M
Prepaid Expenses
Receivables $543.0M $539.0M $566.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.119B $1.301B $1.207B
YoY Change -7.31% -6.34% -4.35%
LONG-TERM ASSETS
Property, Plant & Equipment $122.4M $111.9M $119.8M
YoY Change 2.17% -21.47% -19.44%
Goodwill $176.2M $111.0M $178.1M
YoY Change -1.07% -38.61% -1.71%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $209.5M $202.6M $193.6M
YoY Change 8.21% 6.3% 22.61%
Total Long-Term Assets $1.287B $1.156B $1.121B
YoY Change 14.81% 0.29% 8.31%
TOTAL ASSETS
Total Short-Term Assets $1.119B $1.301B $1.207B
Total Long-Term Assets $1.287B $1.156B $1.121B
Total Assets $2.406B $2.458B $2.328B
YoY Change 3.34% -3.34% 1.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $240.6M $268.9M $225.7M
YoY Change 6.6% 11.21% 15.45%
Accrued Expenses $360.0M $350.0M $348.0M
YoY Change 3.45% 69.9% -9.38%
Deferred Revenue $236.0M $294.4M $254.7M
YoY Change -7.34% -10.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.00M $10.00M $10.00M
YoY Change 30.0% -9.09% -9.09%
Total Short-Term Liabilities $852.9M $923.3M $842.2M
YoY Change 1.27% -4.97% -8.61%
LONG-TERM LIABILITIES
Long-Term Debt $564.0M $643.0M $640.0M
YoY Change -11.88% 1.42% 1.27%
Other Long-Term Liabilities $50.00M $77.40M $68.10M
YoY Change -26.58% -22.6% -24.58%
Total Long-Term Liabilities $50.00M $77.40M $68.10M
YoY Change -26.58% -22.6% -24.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $852.9M $923.3M $842.2M
Total Long-Term Liabilities $50.00M $77.40M $68.10M
Total Liabilities $902.9M $1.001B $910.3M
YoY Change -0.81% -6.62% -10.03%
SHAREHOLDERS EQUITY
Retained Earnings -$1.700B -$1.694B -$1.725B
YoY Change -1.44% -13.71% -14.32%
Common Stock $4.641B $4.540B $4.537B
YoY Change 2.29% 0.3% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $109.6M $105.0M $104.9M
YoY Change 4.48% 2.24% 2.14%
Treasury Stock Shares 3.500M shares 3.100M shares 3.100M shares
Shareholders Equity -$1.167B -$1.344B -$1.236B
YoY Change
Total Liabilities & Shareholders Equity $2.406B $2.458B $2.328B
YoY Change 3.34% -3.34% 1.35%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$13.20M $25.00M $6.100M
YoY Change -316.39% -50.5% -114.84%
Depreciation, Depletion And Amortization $37.90M $41.40M $40.60M
YoY Change -6.65% 2.22% 6.56%
Cash From Operating Activities $17.70M $151.3M -$15.50M
YoY Change -214.19% -25.36% -128.76%
INVESTING ACTIVITIES
Capital Expenditures -$32.00M -$48.20M -$47.70M
YoY Change -32.91% 0.42% 1.71%
Acquisitions
YoY Change
Other Investing Activities -$8.600M -$10.90M $2.200M
YoY Change -490.91% 84.75% -85.62%
Cash From Investing Activities -$40.60M -$59.10M -$45.50M
YoY Change -10.77% 9.65% 43.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.40M -400.0K -1.000M
YoY Change 4940.0% -91.67% -183.33%
NET CHANGE
Cash From Operating Activities 17.70M 151.3M -15.50M
Cash From Investing Activities -40.60M -59.10M -45.50M
Cash From Financing Activities -50.40M -400.0K -1.000M
Net Change In Cash -73.30M 91.80M -62.00M
YoY Change 18.23% -36.25% -363.83%
FREE CASH FLOW
Cash From Operating Activities $17.70M $151.3M -$15.50M
Capital Expenditures -$32.00M -$48.20M -$47.70M
Free Cash Flow $49.70M $199.5M $32.20M
YoY Change 54.35% -20.42% -68.06%

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us-gaap Severance Costs1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2018Q3 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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6600000 USD
CY2019Q3 us-gaap Net Income Loss
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CY2018Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Net Income Loss
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6100000 USD
us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
14600000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Parent Diluted
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CY2018Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
6100000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
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us-gaap Net Income Loss Attributable To Parent Diluted
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65100000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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58245000 shares
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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50918000 shares
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0 shares
CY2018Q3 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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CY2019Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
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0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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58245000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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53815000 shares
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CY2019Q3 us-gaap Contract With Customer Asset Net Noncurrent
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22400000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
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142400000 USD
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157200000 USD
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16800000 USD
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21200000 USD
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1000000000.0 USD
CY2018Q3 us-gaap Revenues
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688300000 USD
CY2018Q3 us-gaap Operating Income Loss
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55800000 USD
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0.13
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
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0.34
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
46000000.0 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
236600000 USD
CY2018Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
64600000 USD
us-gaap Contract With Customer Liability Revenue Recognized
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255500000 USD
CY2019Q3 us-gaap Capitalized Contract Cost Net
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78100000 USD
CY2018Q4 us-gaap Capitalized Contract Cost Net
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79500000 USD
CY2019Q3 us-gaap Revenues
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757600000 USD
CY2019Q3 us-gaap Capitalized Contract Cost Amortization
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5900000 USD
CY2018Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4200000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
17800000 USD
us-gaap Capitalized Contract Cost Amortization
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14900000 USD
us-gaap Revenues
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2207200000 USD
CY2018Q4 us-gaap Goodwill
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177800000 USD
us-gaap Revenues
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2207200000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
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CY2019Q3 us-gaap Goodwill
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176200000 USD
us-gaap Operating Income Loss
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200800000 USD
us-gaap Revenues
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2064100000 USD
CY2019Q3 us-gaap Finance Lease Liability
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5700000 USD
CY2018Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5800000 USD
CY2019Q3 us-gaap Other Long Term Debt
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58300000 USD
CY2018Q4 us-gaap Other Long Term Debt
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20800000 USD
CY2019Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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577000000.0 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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652800000 USD
CY2019Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
13400000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
10000000.0 USD
CY2019Q3 us-gaap Long Term Debt And Capital Lease Obligations
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563600000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations
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642800000 USD
CY2019Q3 uis Unreserved Tax Related Matters Inclusive Of Interest
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98000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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-18100000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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86800000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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425400000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
605000000.0 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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7900000 USD
CY2019Q3 us-gaap Operating Income Loss
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70900000 USD
CY2018Q3 us-gaap Revenues
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688300000 USD
us-gaap Number Of Operating Segments
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2 segment
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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19100000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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433300000 USD
CY2019Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Income Taxes Paid Net
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44700000 USD
us-gaap Income Taxes Paid Net
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37400000 USD
us-gaap Interest Paid Net
InterestPaidNet
36300000 USD
us-gaap Interest Paid Net
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35700000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
624100000 USD
CY2019Q3 us-gaap Revenues
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757600000 USD
us-gaap Revenues
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2207200000 USD
us-gaap Revenues
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2064100000 USD
us-gaap Revenues
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2064100000 USD
us-gaap Operating Income Loss
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CY2019Q3 us-gaap Interest Expense
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15200000 USD
CY2018Q3 us-gaap Interest Expense
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us-gaap Interest Expense
InterestExpense
46900000 USD
us-gaap Interest Expense
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48200000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
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CY2018Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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6500000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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22200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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45400000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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105100000 USD
CY2019Q3 us-gaap Revenues
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757600000 USD
CY2018Q3 us-gaap Revenues
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688300000 USD
us-gaap Revenues
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2207200000 USD
us-gaap Revenues
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2064100000 USD
CY2019Q3 us-gaap Revenues
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757600000 USD
CY2018Q3 us-gaap Revenues
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688300000 USD
CY2018Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
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19200000 USD
CY2018Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
7300000 USD

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