2020 Q3 Form 10-K Financial Statement

#000167491020000221 Filed on November 24, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2020 Q1
Revenue $652.0M $516.0M $578.0M
YoY Change 3.66% -15.82% -2.2%
Cost Of Revenue $394.0M $329.0M $371.0M
YoY Change -4.37% -18.97% -4.38%
Gross Profit $258.0M $187.0M $207.0M
YoY Change 18.89% -9.66% 1.97%
Gross Profit Margin 39.57% 36.24% 35.81%
Selling, General & Admin $123.0M $106.0M $96.00M
YoY Change 6.96% -8.62% -15.04%
% of Gross Profit 47.67% 56.68% 46.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.00M $17.00M $15.00M
YoY Change 0.0% 13.33% 7.14%
% of Gross Profit 6.98% 9.09% 7.25%
Operating Expenses $123.0M $106.0M $96.00M
YoY Change 6.96% -8.62% -15.04%
Operating Profit $176.0M $88.00M $117.0M
YoY Change 55.75% -13.73% 21.88%
Interest Expense -$20.00M -$19.00M -$19.00M
YoY Change 11.11% 0.0% 0.0%
% of Operating Profit -11.36% -21.59% -16.24%
Other Income/Expense, Net $43.00M $17.00M $15.00M
YoY Change -176.79% 30.77% 25.0%
Pretax Income $188.0M $78.00M $88.00M
YoY Change 571.43% -8.24% 10.0%
Income Tax $28.00M $19.00M $25.00M
% Of Pretax Income 14.89% 24.36% 28.41%
Net Earnings $122.0M $59.00M $63.00M
YoY Change 351.85% -9.23% 0.0%
Net Earnings / Revenue 18.71% 11.43% 10.9%
Basic Earnings Per Share $0.66 $0.32 $0.33
Diluted Earnings Per Share $0.66 $0.32 $0.33
COMMON SHARES
Basic Shares Outstanding 185.0M shares 186.0M shares 188.0M shares
Diluted Shares Outstanding 186.0M shares 188.0M shares

Balance Sheet

Concept 2020 Q3 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.0M $751.0M $774.0M
YoY Change 377.99% 496.03% 578.95%
Cash & Equivalents $760.0M $751.0M $774.0M
Short-Term Investments
Other Short-Term Assets $46.00M $43.00M $49.00M
YoY Change 6.98% -17.31% -16.95%
Inventory $199.0M $189.0M $209.0M
Prepaid Expenses
Receivables $433.0M $396.0M $352.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.438B $1.379B $1.384B
YoY Change 80.43% 72.16% 88.81%
LONG-TERM ASSETS
Property, Plant & Equipment $613.0M $559.0M $509.0M
YoY Change 23.09% 22.86% 15.42%
Goodwill $445.0M $434.0M $430.0M
YoY Change 3.49% 4.58% 6.44%
Intangibles
YoY Change
Long-Term Investments $44.00M $39.00M $37.00M
YoY Change 29.41% 11.43% 8.82%
Other Assets $132.0M $133.0M $131.0M
YoY Change 22.22% 25.47% 27.18%
Total Long-Term Assets $1.613B $1.584B $1.533B
YoY Change 27.31% 32.11% 29.81%
TOTAL ASSETS
Total Short-Term Assets $1.438B $1.379B $1.384B
Total Long-Term Assets $1.613B $1.584B $1.533B
Total Assets $3.051B $2.963B $2.917B
YoY Change 47.82% 48.15% 52.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $189.0M $178.0M $186.0M
YoY Change 10.53% 9.2% 20.78%
Accrued Expenses $255.0M $254.0M $215.0M
YoY Change 7.59% 4.96% 4.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $444.0M $432.0M $401.0M
YoY Change 4.96% 4.85% 2.82%
LONG-TERM LIABILITIES
Long-Term Debt $1.962B $1.953B $2.003B
YoY Change 47.85% 46.4% 51.97%
Other Long-Term Liabilities $172.0M $185.0M $163.0M
YoY Change -7.03% 0.54% -8.94%
Total Long-Term Liabilities $2.683B $2.719B $2.753B
YoY Change 41.28% 47.77% 51.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $444.0M $432.0M $401.0M
Total Long-Term Liabilities $2.683B $2.719B $2.753B
Total Liabilities $3.127B $3.151B $3.154B
YoY Change 34.67% 39.92% 42.59%
SHAREHOLDERS EQUITY
Retained Earnings -$110.0M -$211.0M -$249.0M
YoY Change -61.27% -27.49% -25.89%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$76.00M -$188.0M -$237.0M
YoY Change
Total Liabilities & Shareholders Equity $3.051B $2.963B $2.917B
YoY Change 47.82% 48.15% 52.4%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $122.0M $59.00M $63.00M
YoY Change 351.85% -9.23% 0.0%
Depreciation, Depletion And Amortization $18.00M $17.00M $15.00M
YoY Change 0.0% 13.33% 7.14%
Cash From Operating Activities $101.0M $117.0M $95.00M
YoY Change -9.01% 46.25% 93.88%
INVESTING ACTIVITIES
Capital Expenditures -$57.00M -$37.00M -$29.00M
YoY Change 62.86% 48.0% 38.1%
Acquisitions
YoY Change
Other Investing Activities -$22.00M -$35.00M -$7.000M
YoY Change -24.14% 150.0% -12.5%
Cash From Investing Activities -$79.00M -$72.00M -$36.00M
YoY Change 23.44% 84.62% 24.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $60.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.00M -72.00M 560.0M
YoY Change -31.82% 148.28% 11100.0%
NET CHANGE
Cash From Operating Activities 101.0M 117.0M 95.00M
Cash From Investing Activities -79.00M -72.00M -36.00M
Cash From Financing Activities -15.00M -72.00M 560.0M
Net Change In Cash 7.000M -27.00M 619.0M
YoY Change -72.0% -325.0% 2376.0%
FREE CASH FLOW
Cash From Operating Activities $101.0M $117.0M $95.00M
Capital Expenditures -$57.00M -$37.00M -$29.00M
Free Cash Flow $158.0M $154.0M $124.0M
YoY Change 8.22% 46.67% 77.14%

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CY2020Q3 us-gaap Stockholders Equity
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CY2019 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2018 us-gaap Increase Decrease In Inventories
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CY2020 us-gaap Use Of Estimates
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of estimates, risks and uncertainties</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent matters. Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets (including intangible assets and goodwill), customer incentives, employee benefit obligations and income taxes. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In late December 2019, coronavirus ("COVID-19") was identified in Wuhan, China and since that time it has continued to spread, including to the United States, leading the World Health Organization to declare a global pandemic and recommend containment and mitigation actions worldwide in March 2020. The Company has substantially maintained its operations during the pandemic to-date, and precautionary measures have been taken to protect the Company's employees and customers, maintain liquidity, support its franchisees, and manage through currently known impacts of the pandemic. Given the unprecedented nature of the pandemic, the extent of future impacts cannot be reasonably estimated at this time due to numerous uncertainties, including the duration and severity of the pandemic.</span></div>
CY2020 vvv Sales Discounts And Rebates
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BusinessAcquisitionNumberOfServiceCenterStoresAcquiredInSingleAndMultiStoreTransactions
3 service_center_store
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
1000000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
0 USD
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
2000000 USD
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
0 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
0 USD
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
1000000 USD
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
6000000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
19000000 USD
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
2000000 USD
CY2020Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseAsset
1000000 USD
CY2019Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseAsset
0 USD
CY2018Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseAsset
0 USD
CY2020Q3 vvv Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Goodwill Including Purchase Accounting Adjustments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedGoodwillIncludingPurchaseAccountingAdjustments
17000000 USD
CY2019Q3 vvv Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Goodwill Including Purchase Accounting Adjustments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedGoodwillIncludingPurchaseAccountingAdjustments
50000000 USD
CY2018Q3 vvv Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Goodwill Including Purchase Accounting Adjustments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedGoodwillIncludingPurchaseAccountingAdjustments
58000000 USD
CY2020Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseLiabilities
-1000000 USD
CY2019Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseLiabilities
0 USD
CY2018Q3 vvv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseLiabilities
0 USD
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
4000000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
1000000 USD
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
0 USD
CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
40000000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
82000000 USD
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
125000000 USD
CY2020 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Fair Value1
BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1
0 USD
CY2019 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Fair Value1
BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1
4000000 USD
CY2018 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Fair Value1
BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1
0 USD
CY2020 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
40000000 USD
CY2019 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
78000000 USD
CY2018 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
125000000 USD
CY2020 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2020 vvv Business Disposition Number Of Service Centers Sold
BusinessDispositionNumberOfServiceCentersSold
6 service_center_store
CY2018 vvv Business Disposition Number Of Service Centers Sold
BusinessDispositionNumberOfServiceCentersSold
2 service_center_store
CY2020Q3 us-gaap Equity Method Investments
EquityMethodInvestments
44000000 USD
CY2019Q3 us-gaap Equity Method Investments
EquityMethodInvestments
34000000 USD
CY2020Q3 us-gaap Retained Earnings Undistributed Earnings From Equity Method Investees
RetainedEarningsUndistributedEarningsFromEquityMethodInvestees
39000000 USD
CY2019Q3 us-gaap Retained Earnings Undistributed Earnings From Equity Method Investees
RetainedEarningsUndistributedEarningsFromEquityMethodInvestees
32000000 USD
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000000 USD
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14000000 USD
CY2020 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5000000 USD
CY2019 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
9000000 USD
CY2018 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
10000000 USD
CY2020 vvv Equity Method Investment Summarized Financial Information Royalty Income
EquityMethodInvestmentSummarizedFinancialInformationRoyaltyIncome
8000000 USD
CY2019 vvv Equity Method Investment Summarized Financial Information Royalty Income
EquityMethodInvestmentSummarizedFinancialInformationRoyaltyIncome
9000000 USD
CY2018 vvv Equity Method Investment Summarized Financial Information Royalty Income
EquityMethodInvestmentSummarizedFinancialInformationRoyaltyIncome
8000000 USD
CY2020 vvv Equity Method Investment Summarized Financial Information Sales To Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationSalesToCompaniesAccountedForUnderEquityMethodInvestments
7000000 USD
CY2019 vvv Equity Method Investment Summarized Financial Information Sales To Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationSalesToCompaniesAccountedForUnderEquityMethodInvestments
12000000 USD
CY2018 vvv Equity Method Investment Summarized Financial Information Sales To Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationSalesToCompaniesAccountedForUnderEquityMethodInvestments
12000000 USD
CY2020 vvv Equity Method Investment Summarized Financial Information Purchases From Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationPurchasesFromCompaniesAccountedForUnderEquityMethodInvestments
7000000 USD
CY2019 vvv Equity Method Investment Summarized Financial Information Purchases From Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationPurchasesFromCompaniesAccountedForUnderEquityMethodInvestments
4000000 USD
CY2018 vvv Equity Method Investment Summarized Financial Information Purchases From Companies Accounted For Under Equity Method Investments
EquityMethodInvestmentSummarizedFinancialInformationPurchasesFromCompaniesAccountedForUnderEquityMethodInvestments
2000000 USD
CY2018Q3 us-gaap Goodwill
Goodwill
381000000 USD
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
50000000 USD
CY2019 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
1000000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
430000000 USD
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
17000000 USD
CY2020 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1000000 USD
CY2020 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
3000000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
445000000 USD
CY2020 vvv Business Disposition Number Of Service Centers Sold
BusinessDispositionNumberOfServiceCentersSold
6 service_center_store
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
112000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
84000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
92000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
74000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
11000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
9000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7000000 USD
CY2020Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
0 USD
CY2019Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
1000000 USD
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
19000000 USD
CY2019Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
9000000 USD
CY2020Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1962000000 USD
CY2019Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1342000000 USD
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
15000000 USD
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1962000000 USD
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1327000000 USD
CY2020Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2000000 USD
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
19000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
104000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
61000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
410000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
806000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
600000000 USD
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1981000000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
16000000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
10000000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-2000000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
11000000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5000000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6000000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
15000000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
19000000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
17000000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
42000000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
34000000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
21000000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
62000000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
24000000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
136000000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
26000000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
9000000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
4000000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1000000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
92000000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
23000000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
145000000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
134000000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
166000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
399000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
212000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
282000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
52000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
53000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
50000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
451000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
265000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
332000000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.245
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
95000000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
56000000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
81000000 USD
CY2020 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
1000000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
5000000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
0 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
16000000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
9000000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
14000000 USD
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
2000000 USD
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
2000000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
0 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-4000000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-3000000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-3000000 USD
CY2020 vvv Effective Income Tax Rate Reconciliation Remeasurement Of Net Deferred Taxes Amount
EffectiveIncomeTaxRateReconciliationRemeasurementOfNetDeferredTaxesAmount
1000000 USD
CY2019 vvv Effective Income Tax Rate Reconciliation Remeasurement Of Net Deferred Taxes Amount
EffectiveIncomeTaxRateReconciliationRemeasurementOfNetDeferredTaxesAmount
-4000000 USD
CY2018 vvv Effective Income Tax Rate Reconciliation Remeasurement Of Net Deferred Taxes Amount
EffectiveIncomeTaxRateReconciliationRemeasurementOfNetDeferredTaxesAmount
73000000 USD
CY2020 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-2000000 USD
CY2019 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-6000000 USD
CY2018 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
0 USD
CY2020 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
0 USD
CY2019 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
0 USD
CY2018 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
4000000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
29000000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-4000000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1000000 USD
CY2020 vvv Effective Income Tax Rate Reconciliation Tax Matter Agreement Activity Amount
EffectiveIncomeTaxRateReconciliationTaxMatterAgreementActivityAmount
-6000000 USD
CY2019 vvv Effective Income Tax Rate Reconciliation Tax Matter Agreement Activity Amount
EffectiveIncomeTaxRateReconciliationTaxMatterAgreementActivityAmount
1000000 USD
CY2018 vvv Effective Income Tax Rate Reconciliation Tax Matter Agreement Activity Amount
EffectiveIncomeTaxRateReconciliationTaxMatterAgreementActivityAmount
-2000000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2000000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-2000000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
134000000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57000000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
166000000 USD
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.297
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.500
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.245
CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncomeTaxExpenseBenefit
-71000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
30000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
2000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
2000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
18000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
19000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
79000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
98000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
26000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
21000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
11000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
19000000 USD
CY2020Q3 vvv Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
69000000 USD
CY2019Q3 vvv Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
0 USD
CY2020Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
17000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
23000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
30000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2000000 USD
CY2020Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
192000000 USD
CY2019Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
180000000 USD
CY2020Q3 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
11000000 USD
CY2019Q3 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
9000000 USD
CY2020Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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Files In Submission

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0001674910-20-000221-index-headers.html Edgar Link pending
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0001674910-20-000221.txt Edgar Link pending
0001674910-20-000221-xbrl.zip Edgar Link pending
exhibit1011-restricted.htm Edgar Link pending
exhibit108-stockapprec.htm Edgar Link pending
exhibit21-listofsubsid.htm Edgar Link pending
exhibit22-listofguaran.htm Edgar Link pending
exhibit231consentofeyl.htm Edgar Link pending
exhibit24-powerofattor.htm Edgar Link pending
exhibit311-certificati.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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vvv-20200930.htm Edgar Link pending
vvv-20200930.xsd Edgar Link pending
vvv-20200930_cal.xml Edgar Link unprocessable
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