2019 Q4 Form 10-Q Financial Statement

#000011047119000051 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q3
Revenue $607.4M $558.6M
YoY Change 4.8% -3.91%
Cost Of Revenue $377.5M $326.5M
YoY Change 7.09% -6.55%
Gross Profit $229.9M $232.1M
YoY Change 1.23% 0.61%
Gross Profit Margin 37.85% 41.55%
Selling, General & Admin $170.7M $161.6M
YoY Change 3.14% -5.22%
% of Gross Profit 74.25% 69.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.400M $7.500M
YoY Change 5.62% -16.67%
% of Gross Profit 4.09% 3.23%
Operating Expenses $235.1M $161.6M
YoY Change 35.74% -5.22%
Operating Profit -$5.200M $68.40M
YoY Change -109.65% 83.87%
Interest Expense -$8.200M -$5.800M
YoY Change 41.38% -1.69%
% of Operating Profit -8.48%
Other Income/Expense, Net $1.700M -$4.500M
YoY Change -125.76% -55.45%
Pretax Income -$11.70M $63.90M
YoY Change -128.61% 135.79%
Income Tax -$11.20M $5.000M
% Of Pretax Income 7.82%
Net Earnings -$900.0K $58.80M
YoY Change -102.29% 153.45%
Net Earnings / Revenue -0.15% 10.53%
Basic Earnings Per Share -$0.01 $0.62
Diluted Earnings Per Share -$0.01 $0.60
COMMON SHARES
Basic Shares Outstanding 80.88M shares 93.20M shares
Diluted Shares Outstanding 95.30M shares

Balance Sheet

Concept 2019 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.6M $228.1M
YoY Change 26.21% -44.74%
Cash & Equivalents $180.6M $228.1M
Short-Term Investments
Other Short-Term Assets $107.1M $32.20M
YoY Change 133.84% -45.33%
Inventory $348.2M $324.4M
Prepaid Expenses
Receivables $331.2M $364.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $967.1M $948.7M
YoY Change 11.46% -6.99%
LONG-TERM ASSETS
Property, Plant & Equipment $141.0M $131.4M
YoY Change 7.72% -7.59%
Goodwill $438.9M $427.5M
YoY Change 3.42% -0.56%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $87.00M $79.90M
YoY Change 7.94% 13.17%
Total Long-Term Assets $1.513B $1.320B
YoY Change 15.01% -5.6%
TOTAL ASSETS
Total Short-Term Assets $967.1M $948.7M
Total Long-Term Assets $1.513B $1.320B
Total Assets $2.480B $2.269B
YoY Change 13.6% -6.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $202.1M $139.5M
YoY Change -0.1% -1.55%
Accrued Expenses $212.8M $156.6M
YoY Change 53.87% 17.48%
Deferred Revenue
YoY Change
Short-Term Debt $360.0M $1.500M
YoY Change 188.0% -6.25%
Long-Term Debt Due $12.50M $60.00M
YoY Change 66.67% 22.95%
Total Short-Term Liabilities $787.4M $357.6M
YoY Change 66.43% 8.2%
LONG-TERM LIABILITIES
Long-Term Debt $425.9M $601.0M
YoY Change -2.76% -19.24%
Other Long-Term Liabilities $132.4M $67.60M
YoY Change 64.47% 36.29%
Total Long-Term Liabilities $558.3M $668.6M
YoY Change 7.68% -15.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $787.4M $357.6M
Total Long-Term Liabilities $558.3M $668.6M
Total Liabilities $1.346B $1.026B
YoY Change 35.71% -8.73%
SHAREHOLDERS EQUITY
Retained Earnings $1.263B $1.138B
YoY Change 8.0% 7.55%
Common Stock $341.7M $298.2M
YoY Change 10.58% 24.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $736.2M $299.0M
YoY Change 82.05% 34.08%
Treasury Stock Shares 27.18M shares 12.75M shares
Shareholders Equity $766.7M $1.056B
YoY Change
Total Liabilities & Shareholders Equity $2.480B $2.269B
YoY Change 13.6% -6.19%

Cashflow Statement

Concept 2019 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$900.0K $58.80M
YoY Change -102.29% 153.45%
Depreciation, Depletion And Amortization $9.400M $7.500M
YoY Change 5.62% -16.67%
Cash From Operating Activities $206.6M -$99.10M
YoY Change 57.11% -171.6%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$7.000M
YoY Change -10.94% -19.54%
Acquisitions
YoY Change
Other Investing Activities -$2.400M -$400.0K
YoY Change 140.0% -84.0%
Cash From Investing Activities -$8.100M -$7.400M
YoY Change 9.46% -33.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.0M -20.70M
YoY Change -30.47% -5.48%
NET CHANGE
Cash From Operating Activities 206.6M -99.10M
Cash From Investing Activities -8.100M -7.400M
Cash From Financing Activities -144.0M -20.70M
Net Change In Cash 54.50M -127.2M
YoY Change -165.66% -220.8%
FREE CASH FLOW
Cash From Operating Activities $206.6M -$99.10M
Capital Expenditures -$5.700M -$7.000M
Free Cash Flow $212.3M -$92.10M
YoY Change 53.95% -162.61%

Facts In Submission

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<div style="line-height:120%;padding-bottom:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Operations</span></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Wolverine World Wide, Inc. (the “Company”) is a leading designer, marketer and licensor of a broad range of quality casual footwear and apparel; performance outdoor and athletic footwear and apparel; children’s footwear; industrial work shoes, boots and apparel; and uniform shoes and boots. The Company’s portfolio of owned and licensed brands includes: </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Bates</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Cat</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Chaco</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Harley-Davidson</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Hush Puppies</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">HyTest</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Keds</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;font-style:italic;">, Merrell</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Saucony</span><span style="font-family:inherit;font-size:10pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;font-style:italic;">, Sperry</span><span style="font-family:inherit;font-size:10pt;font-style:italic;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;font-style:italic;">, Stride Rite</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Wolverine</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></span><span style="font-family:inherit;font-size:10pt;">. The Company’s products are marketed worldwide through owned operations and through licensing and distribution arrangements with third parties. The Company also operates retail stores and eCommerce sites to market both its own brands and branded footwear and apparel from other manufacturers, as well as a leathers division that markets </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Wolverine Performance Leathers™</span><span style="font-family:inherit;font-size:10pt;">.</span></div>
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<div style="line-height:120%;padding-bottom:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal Year</span></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company’s fiscal year is the 52 or 53-week period that ends on the Saturday nearest to December 31. Fiscal years </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> both have </span><span style="font-family:inherit;font-size:10pt;">52</span><span style="font-family:inherit;font-size:10pt;"> weeks. The Company reports its quarterly results of operations on the basis of 13-week quarters for each of the first three fiscal quarters and a 13 or 14-week period for the fiscal fourth quarter. References to particular years or quarters refer to the Company’s fiscal years ended on the Saturday nearest to December 31 or the fiscal quarters within those years. </span></div>
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
48700000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
58800000 USD
us-gaap Net Income Loss
NetIncomeLoss
129400000 USD
us-gaap Net Income Loss
NetIncomeLoss
160800000 USD
CY2019Q3 www Adjustment For Earnings Allocated To Nonvested Restricted Common Stock
AdjustmentForEarningsAllocatedToNonvestedRestrictedCommonStock
1000000.0 USD
CY2018Q3 www Adjustment For Earnings Allocated To Nonvested Restricted Common Stock
AdjustmentForEarningsAllocatedToNonvestedRestrictedCommonStock
1200000 USD
www Adjustment For Earnings Allocated To Nonvested Restricted Common Stock
AdjustmentForEarningsAllocatedToNonvestedRestrictedCommonStock
2600000 USD
www Adjustment For Earnings Allocated To Nonvested Restricted Common Stock
AdjustmentForEarningsAllocatedToNonvestedRestrictedCommonStock
3400000 USD
CY2019Q3 www Net Income Loss Availableto C Ommon Stockholders Basicand Diluted
NetIncomeLossAvailabletoCOmmonStockholdersBasicandDiluted
47700000 USD
CY2018Q3 www Net Income Loss Availableto C Ommon Stockholders Basicand Diluted
NetIncomeLossAvailabletoCOmmonStockholdersBasicandDiluted
57600000 USD
www Net Income Loss Availableto C Ommon Stockholders Basicand Diluted
NetIncomeLossAvailabletoCOmmonStockholdersBasicandDiluted
126800000 USD
www Net Income Loss Availableto C Ommon Stockholders Basicand Diluted
NetIncomeLossAvailabletoCOmmonStockholdersBasicandDiluted
157400000 USD
CY2019Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 USD
CY2018Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
0 USD
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
100000 USD
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
100000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
47700000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
57600000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
126900000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
157500000 USD
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
83500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
94900000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
87300000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
95200000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1700000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86600000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1800000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83000000.0 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93400000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000.0 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83900000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95400000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.69
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.65
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1228157 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
131004 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18779 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24250 shares
CY2018Q4 us-gaap Goodwill
Goodwill
424400000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
429800000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
12300000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
437000000.0 USD
CY2018Q3 us-gaap Goodwill
Goodwill
427500000 USD
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5400000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
300000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-2300000 USD
CY2019Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
604500000 USD
CY2019Q3 www Sale Of Accounts Receivable Percent Paid At Sale
SaleOfAccountsReceivablePercentPaidAtSale
0.90
CY2018Q3 www Customer Rebates Liability
CustomerRebatesLiability
14000000.0 USD
CY2019Q3 www Sale Of Accounts Receivable Maximum Amount Under Agreement
SaleOfAccountsReceivableMaximumAmountUnderAgreement
150000000.0 USD
CY2018Q3 www Accounts Receivable Sold
AccountsReceivableSold
40100000 USD
www Accounts Receivable Sold
AccountsReceivableSold
264300000 USD
CY2018Q3 us-gaap Gain Loss On Sale Of Accounts Receivable
GainLossOnSaleOfAccountsReceivable
200000 USD
us-gaap Gain Loss On Sale Of Accounts Receivable
GainLossOnSaleOfAccountsReceivable
1300000 USD
CY2018Q3 www Accounts Receivable Reduction Due To Sale
AccountsReceivableReductionDueToSale
7500000 USD
CY2019Q3 www Revenue Remaining Performance Obligation Amount
RevenueRemainingPerformanceObligationAmount
35200000 USD
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Year1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionYear1
2024
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
574300000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
558600000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1666300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1659600000 USD
CY2019Q3 www Product Returns Reserve
ProductReturnsReserve
9500000 USD
CY2018Q4 www Product Returns Reserve
ProductReturnsReserve
13600000 USD
CY2018Q3 www Product Returns Reserve
ProductReturnsReserve
13700000 USD
CY2019Q3 www Customer Markdowns Reserve
CustomerMarkdownsReserve
3600000 USD
CY2018Q4 www Customer Markdowns Reserve
CustomerMarkdownsReserve
4000000.0 USD
CY2018Q3 www Customer Markdowns Reserve
CustomerMarkdownsReserve
4900000 USD
CY2019Q3 www Sales Incentives Reserve
SalesIncentivesReserve
1900000 USD
CY2018Q4 www Sales Incentives Reserve
SalesIncentivesReserve
2300000 USD
CY2018Q3 www Sales Incentives Reserve
SalesIncentivesReserve
2500000 USD
CY2019Q3 www Customer Rebates Liability
CustomerRebatesLiability
10800000 USD
CY2018Q4 www Customer Rebates Liability
CustomerRebatesLiability
12800000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3800000 USD
CY2018Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3900000 USD
CY2019Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
493300000 USD
CY2018Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
125000000.0 USD
CY2018Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1500000 USD
CY2019Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
0 USD
CY2018Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
400000 USD
CY2018Q3 us-gaap Capital Lease Obligations
CapitalLeaseObligations
400000 USD
CY2019Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
4300000 USD
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
4900000 USD
CY2018Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
5000000.0 USD
CY2019Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
934000000.0 USD
CY2018Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
570500000 USD
CY2018Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
662500000 USD
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
10000000.0 USD
CY2019Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
400000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1200000 USD
CY2018Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
600000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2200000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
8100000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
24300000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
3600000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
10900000 USD
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
300000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
900000 USD
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
1000000.0 USD
us-gaap Sublease Income
SubleaseIncome
2900000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
11000000.0 USD
us-gaap Lease Cost
LeaseCost
33200000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y3M18D
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8700000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32100000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29300000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
26700000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
19900000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
122300000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
239000000.0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
54500000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
184500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
24400000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
25000000.0 USD
CY2019Q3 www Lessee Operating Lease Not Yet Commenced Value
LesseeOperatingLeaseNotYetCommencedValue
4800000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
300000 USD
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2019Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3800000 USD
CY2018Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
4100000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
11400000 USD
CY2018Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-800000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-2000000.0 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-2500000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
12400000 USD
CY2019Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
4400000 USD
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
7100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
17300000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1500000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3500000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
7000000.0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
21200000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1400000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4300000 USD
CY2019Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1300000 USD
CY2018Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1500000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4100000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4600000 USD
CY2018Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
5400000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
13300000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
15500000 USD
CY2019Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1400000 USD
CY2018Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1000000.0 USD
CY2019Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-700000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4200000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-86000000.0 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-100000 USD
CY2019Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
3500000 USD
CY2019Q3 www Reclassificationfrom Accumulated Other Comprehensive Income Current Period Tax
ReclassificationfromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
1000000.0 USD
CY2019Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
2500000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
4000000.0 USD
us-gaap Pension Contributions
PensionContributions
60700000 USD
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.179
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.078
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.137
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-82900000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
800000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-1600000 USD
CY2018Q3 www Reclassificationfrom Accumulated Other Comprehensive Income Current Period Tax
ReclassificationfromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
-700000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-900000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1700000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-81200000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2600000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-88600000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-75200000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-4600000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-9200000 USD
www Reclassificationfrom Accumulated Other Comprehensive Income Current Period Tax
ReclassificationfromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
-2500000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-6700000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2100000 USD
www Effect Of New Accounting Principle In Period Of Adoption
EffectOfNewAccountingPrincipleInPeriodOfAdoption
-8100000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-81200000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-88300000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
4100000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
5700000 USD
CY2017Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
31100000 USD
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
0 USD
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Revision In Estimates
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates
900000 USD
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
7800000 USD
www Reclassificationfrom Accumulated Other Comprehensive Income Current Period Tax
ReclassificationfromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
1300000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
4400000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-300000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-88600000 USD
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
934000000.0 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
570100000 USD
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
662100000 USD
CY2019Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
952800000 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
566800000 USD
CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
668700000 USD
CY2018Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
22600000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1666300000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
574300000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
558600000 USD
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
8600000 USD
CY2019Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
14800000 USD
CY2018Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
23400000 USD
CY2019Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
10500000 USD
CY2019Q3 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
4300000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1659600000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
68300000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
68400000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
176200000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
198000000.0 USD
CY2019Q3 us-gaap Assets
Assets
2468500000 USD
CY2018Q4 us-gaap Assets
Assets
2183100000 USD
CY2018Q3 us-gaap Assets
Assets
2269100000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
437000000.0 USD
CY2018Q4 us-gaap Goodwill
Goodwill
424400000 USD
CY2018Q3 us-gaap Goodwill
Goodwill
427500000 USD
CY2019Q3 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
25100000 USD
CY2019Q3 us-gaap Business Combination Contingent Consideration Arrangements Range Of Outcomes Value High
BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh
5700000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
1800000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
6200000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
12900000 USD
CY2019Q3 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
15100000 USD
CY2019Q3 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
4600000 USD
CY2019Q3 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
5400000 USD
CY2019Q3 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
25100000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
33200000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilitiesNoncurrent
3600000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
4500000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
8100000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
25100000 USD

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