2017 Q4 Form 10-K Financial Statement

#000106770119000007 Filed on January 23, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $1.922B $1.766B $1.597B
YoY Change 26.2% 17.11% 12.39%
Cost Of Revenue $1.095B $993.0M $942.0M
YoY Change 26.44% 16.55% 13.36%
Gross Profit $827.0M $773.0M $655.0M
YoY Change 25.88% 17.84% 11.02%
Gross Profit Margin 43.03% 43.77% 41.01%
Selling, General & Admin $255.0M $237.0M $218.0M
YoY Change 37.1% 32.4% 23.16%
% of Gross Profit 30.83% 30.66% 33.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $390.0M $353.0M $330.0M
YoY Change 22.64% 13.5% 7.84%
% of Gross Profit 47.16% 45.67% 50.38%
Operating Expenses $325.0M $237.0M $218.0M
YoY Change 30.52% 32.4% 23.16%
Operating Profit $462.0M $448.0M $340.0M
YoY Change 14.93% 8.74% -2.02%
Interest Expense -$126.0M -$131.0M -$113.0M
YoY Change -22.22% 19.09% -14.39%
% of Operating Profit -27.27% -29.24% -33.24%
Other Income/Expense, Net $0.00 $5.000M $2.000M
YoY Change -100.0% 400.0% 0.0%
Pretax Income $336.0M $322.0M $229.0M
YoY Change 38.84% 6.27% 5.53%
Income Tax $128.0M $123.0M $88.00M
% Of Pretax Income 38.1% 38.2% 38.43%
Net Earnings $897.0M $199.0M $141.0M
YoY Change 486.27% 6.42% 5.22%
Net Earnings / Revenue 46.67% 11.27% 8.83%
Basic Earnings Per Share $10.60 $2.36 $1.67
Diluted Earnings Per Share $10.45 $2.33 $1.65
COMMON SHARES
Basic Shares Outstanding 84.57M shares 84.66M shares 84.64M shares
Diluted Shares Outstanding 85.59M shares 85.41M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.0M $324.0M $338.0M
YoY Change 12.82% 9.09% 27.55%
Cash & Equivalents $352.0M $324.0M $338.0M
Short-Term Investments
Other Short-Term Assets $112.0M $82.00M $77.00M
YoY Change 83.61% 46.43% 26.23%
Inventory $75.00M $82.00M $78.00M
Prepaid Expenses
Receivables $1.233B $1.151B $990.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.772B $1.639B $1.483B
YoY Change 30.2% 21.05% 17.33%
LONG-TERM ASSETS
Property, Plant & Equipment $467.0M $451.0M $7.525B
YoY Change 8.6% -93.43% 11.28%
Goodwill $4.082B $3.493B $3.468B
YoY Change 25.21% 6.92% 6.41%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00M $11.00M $10.00M
YoY Change 66.67% 10.0% 0.0%
Total Long-Term Assets $13.26B $12.11B $11.80B
YoY Change 24.76% 10.84% 8.7%
TOTAL ASSETS
Total Short-Term Assets $1.772B $1.639B $1.483B
Total Long-Term Assets $13.26B $12.11B $11.80B
Total Assets $15.03B $13.74B $13.28B
YoY Change 25.38% 11.97% 9.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $409.0M $612.0M $692.0M
YoY Change 68.31% 49.63% 13.63%
Accrued Expenses $536.0M $467.0M $408.0M
YoY Change 55.81% 16.17% 26.32%
Deferred Revenue $46.00M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $723.0M $694.0M $644.0M
YoY Change 21.11% 13.96% 11.81%
Total Short-Term Liabilities $1.668B $1.773B $1.744B
YoY Change 40.88% 24.86% 15.65%
LONG-TERM LIABILITIES
Long-Term Debt $8.717B $7.677B $7.571B
YoY Change 21.19% 3.84% 4.21%
Other Long-Term Liabilities $120.0M $71.00M $69.00M
YoY Change 79.1% 18.33% 25.45%
Total Long-Term Liabilities $120.0M $71.00M $69.00M
YoY Change 79.1% 18.33% 25.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.668B $1.773B $1.744B
Total Long-Term Liabilities $120.0M $71.00M $69.00M
Total Liabilities $11.92B $11.53B $11.34B
YoY Change 15.32% 7.42% 6.76%
SHAREHOLDERS EQUITY
Retained Earnings $3.005B $2.108B $1.909B
YoY Change 81.68% 40.44% 45.28%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.105B $2.077B $2.077B
YoY Change 1.35% 1.96% 10.19%
Treasury Stock Shares 27.93M shares 27.76M shares 27.76M shares
Shareholders Equity $3.106B $2.211B $1.948B
YoY Change
Total Liabilities & Shareholders Equity $15.03B $13.74B $13.28B
YoY Change 25.38% 11.97% 9.6%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $897.0M $199.0M $141.0M
YoY Change 486.27% 6.42% 5.22%
Depreciation, Depletion And Amortization $390.0M $353.0M $330.0M
YoY Change 22.64% 13.5% 7.84%
Cash From Operating Activities $453.0M $427.0M $706.0M
YoY Change 40.25% 11.49% 9.8%
INVESTING ACTIVITIES
Capital Expenditures -$317.0M -$604.0M -$727.0M
YoY Change 145.74% 35.43% 13.42%
Acquisitions
YoY Change
Other Investing Activities -$1.125B $46.00M -$823.0M
YoY Change -933.33% -55.34% -705.15%
Cash From Investing Activities -$1.442B -$558.0M -$1.550B
YoY Change -24133.33% 62.68% 206.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.020B 107.0M 836.0M
YoY Change -431.17% -2240.0% -1018.68%
NET CHANGE
Cash From Operating Activities 453.0M 427.0M 706.0M
Cash From Investing Activities -1.442B -558.0M -1.550B
Cash From Financing Activities 1.020B 107.0M 836.0M
Net Change In Cash 31.00M -24.00M -8.000M
YoY Change 47.62% -168.57% -117.02%
FREE CASH FLOW
Cash From Operating Activities $453.0M $427.0M $706.0M
Capital Expenditures -$317.0M -$604.0M -$727.0M
Free Cash Flow $770.0M $1.031B $1.433B
YoY Change 70.35% 24.37% 11.6%

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CY2018 us-gaap Gain Loss Related To Litigation Settlement
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CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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CY2018 us-gaap Increase Decrease In Accounts Receivable
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CY2018 us-gaap Increase Decrease In Inventories
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CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2018 us-gaap Increase Decrease In Accounts Payable
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CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2018 us-gaap Increase Decrease In Accrued Liabilities
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CY2017 us-gaap Increase Decrease In Accrued Liabilities
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CY2016 us-gaap Increase Decrease In Accrued Liabilities
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52000000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018 uri Payments To Acquire Property Subject To Or Available For Operating Lease
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CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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CY2018 uri Proceeds From Sale Of Property Subject To Or Available For Operating Lease
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CY2017 uri Proceeds From Sale Of Property Subject To Or Available For Operating Lease
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550000000 USD
CY2016 uri Proceeds From Sale Of Property Subject To Or Available For Operating Lease
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CY2018 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2018 us-gaap Proceeds From Insurance Settlement Investing Activities
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CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2018 us-gaap Payments To Acquire Investments
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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2018 us-gaap Proceeds From Issuance Of Debt
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CY2018 us-gaap Repayments Of Debt And Capital Lease Obligations
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CY2018 us-gaap Proceeds From Stock Options Exercised
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CY2018 us-gaap Payments For Repurchase Of Common Stock
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CY2016 us-gaap Payments For Repurchase Of Common Stock
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CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
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40000000 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018 us-gaap Interest Paid Net
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CY2018 us-gaap Income Taxes Paid Net
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CY2016 us-gaap Income Taxes Paid Net
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CY2018Q4 us-gaap Reporting Unit Percentage Of Fair Value In Excess Of Carrying Amount
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CY2018 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
Advertising ExpenseWe promote our business through local and national advertising in various media, including television, trade publications, branded sponsorships, yellow pages, the internet, radio and direct mail. Advertising costs are generally expensed as incurred. These costs may include the development costs for branded content and advertising campaigns.
CY2018 us-gaap Cooperative Advertising Amount
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CY2017 us-gaap Cooperative Advertising Amount
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35000000 USD
CY2016 us-gaap Cooperative Advertising Amount
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CY2018Q4 uri Tax Cutsand Jobs Actof2017 Transition Taxfor Accumulated Foreign Earnings Liability
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CY2018 us-gaap Use Of Estimates
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Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates impact the calculation of the allowance for doubtful accounts, depreciation and amortization, income taxes, reserves for claims, loss contingencies (including legal contingencies) and the fair values of financial instruments. Actual results could materially differ from those estimates.
CY2018 us-gaap Concentration Risk Credit Risk
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Concentrations of Credit Risk <span style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to significant concentrations of credit risk include cash and cash equivalents and accounts receivable. We maintain cash and cash equivalents with high quality financial institutions. Concentration of credit risk with respect to receivables is limited because a large number of geographically diverse customers makes up our customer base (see note </span><span style="font-family:inherit;font-size:10pt;">3</span> to our consolidated financial statements for further detail). We manage credit risk through credit approvals, credit limits and other monitoring procedures.
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2018 us-gaap Operating Leases Income Statement Lease Revenue
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4928000000 USD
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4273000000 USD
CY2018 us-gaap Operating Leases Income Statement Sublease Revenue
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138000000 USD
CY2017 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
106000000 USD
CY2016 us-gaap Operating Leases Income Statement Sublease Revenue
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93000000 USD
CY2018 us-gaap Revenues
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CY2018Q4 us-gaap Contract With Customer Liability
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CY2018 us-gaap Provision For Doubtful Accounts
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45000000 USD
CY2017 us-gaap Provision For Doubtful Accounts
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40000000 USD
CY2016 us-gaap Provision For Doubtful Accounts
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24000000 USD
CY2018 uri Business Combination Increasein Original Equipment Coston Rent Percent
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CY2018 uri Business Combination Increasein Original Equipment Coston Rent Percent
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CY2016 us-gaap Revenues
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CY2016 uri Depreciationand Amortization Excluding Financing Costsand Discounts
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1245000000 USD
CY2018 uri Business Combination Increasein Original Equipment Coston Rent Percent
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CY2018 uri Business Combination Increasein Original Equipment Coston Rent Percent
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CY2018 us-gaap Revenues
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CY2018 us-gaap Business Acquisitions Pro Forma Revenue
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CY2017 us-gaap Revenues
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CY2017 us-gaap Business Acquisitions Pro Forma Revenue
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018 uri Business Acquisition Pro Forma Information Income Loss From Continuing Operations Before Income Taxes Noncontrolling Interest Before Adjustments
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1223000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017 uri Business Acquisition Pro Forma Information Income Loss From Continuing Operations Before Income Taxes Noncontrolling Interest Before Adjustments
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873000000 USD
CY2018 uri Business Acquisition Pro Forma Income Loss From Continuing Operations Before Provision Benefit For Income Taxes
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1354000000 USD
CY2017 uri Business Acquisition Pro Forma Income Loss From Continuing Operations Before Provision Benefit For Income Taxes
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709000000 USD
CY2018 us-gaap Number Of Reportable Segments
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CY2018 us-gaap Revenues
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8047000000 USD
CY2018 uri Depreciationand Amortization Excluding Financing Costsand Discounts
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CY2018 us-gaap Payments To Acquire Productive Assets
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2291000000 USD
CY2018Q4 us-gaap Assets
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CY2017 uri Depreciationand Amortization Excluding Financing Costsand Discounts
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1383000000 USD
CY2017 us-gaap Payments To Acquire Productive Assets
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1889000000 USD
CY2017Q4 us-gaap Assets
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CY2016 us-gaap Payments To Acquire Productive Assets
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1339000000 USD
CY2016Q4 us-gaap Assets
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11988000000 USD
CY2018 us-gaap Selling General And Administrative Expense
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1038000000 USD
CY2017 us-gaap Selling General And Administrative Expense
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903000000 USD
CY2016 us-gaap Selling General And Administrative Expense
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CY2018 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
36000000 USD
CY2017 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
50000000 USD
CY2016 us-gaap Business Combination Acquisition Related Costs
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CY2018 us-gaap Restructuring Charges
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CY2017 us-gaap Restructuring Charges
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50000000 USD
CY2016 us-gaap Restructuring Charges
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CY2018 us-gaap Depreciation And Amortization
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CY2017 us-gaap Depreciation And Amortization
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CY2016 us-gaap Depreciation And Amortization
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255000000 USD
CY2018 us-gaap Interest Income Expense Nonoperating Net
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CY2017 us-gaap Interest Income Expense Nonoperating Net
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CY2016 us-gaap Interest Income Expense Nonoperating Net
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CY2018 us-gaap Other Nonoperating Income Expense
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CY2017 us-gaap Other Nonoperating Income Expense
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CY2016 us-gaap Other Nonoperating Income Expense
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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1048000000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018 us-gaap Revenues
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CY2018Q4 us-gaap Property Plant And Equipment Net
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CY2017 us-gaap Revenues
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CY2017Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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CY2017Q4 us-gaap Property Plant And Equipment Net
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CY2017Q4 us-gaap Intangible Assets Net Including Goodwill
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CY2016 us-gaap Revenues
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5762000000 USD
CY2018Q4 us-gaap Restructuring And Related Cost Cost Incurred To Date1
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315000000 USD
CY2015Q4 us-gaap Goodwill
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CY2018Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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4362000000 USD
CY2017Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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3747000000 USD
CY2018Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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9600000000 USD
CY2017Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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7824000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
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CY2017Q4 us-gaap Property Plant And Equipment Gross
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1004000000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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613000000 USD
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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537000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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467000000 USD
CY2016 us-gaap Goodwill Acquired During Period
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9000000 USD
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
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8000000 USD
CY2016Q4 us-gaap Goodwill
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3260000000 USD
CY2017 us-gaap Goodwill Acquired During Period
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805000000 USD
CY2017 us-gaap Goodwill Foreign Currency Translation Gain Loss
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17000000 USD
CY2017Q4 us-gaap Goodwill
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4082000000 USD
CY2018 us-gaap Goodwill Acquired During Period
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999000000 USD
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2018Q4 us-gaap Goodwill
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CY2018Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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1557000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
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213000000 USD
CY2017 us-gaap Amortization Of Intangible Assets
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173000000 USD
CY2016 us-gaap Amortization Of Intangible Assets
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174000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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268000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
232000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
190000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
149000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
106000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
139000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
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1084000000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
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83000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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120000000 USD
CY2018Q4 us-gaap Self Insurance Reserve Current
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46000000 USD
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