2023 Q3 Form 10-Q Financial Statement
#000116600323000064 Filed on August 04, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
Revenue | $1.980B | $1.917B |
YoY Change | -34.91% | -40.69% |
Cost Of Revenue | $843.0M | $834.0M |
YoY Change | -58.76% | -61.26% |
Gross Profit | $1.137B | $1.083B |
YoY Change | 13.93% | 0.37% |
Gross Profit Margin | 57.42% | 56.49% |
Selling, General & Admin | $824.0M | $798.0M |
YoY Change | 176.51% | 146.3% |
% of Gross Profit | 72.47% | 73.68% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $110.0M | $107.0M |
YoY Change | -6.78% | -6.96% |
% of Gross Profit | 9.67% | 9.88% |
Operating Expenses | $973.0M | $951.0M |
YoY Change | 226.51% | 193.52% |
Operating Profit | $154.0M | $107.0M |
YoY Change | -16.76% | -53.48% |
Interest Expense | $41.00M | $43.00M |
YoY Change | 17.14% | 38.71% |
% of Operating Profit | 26.62% | 40.19% |
Other Income/Expense, Net | $4.000M | $3.000M |
YoY Change | -73.33% | -80.0% |
Pretax Income | $117.0M | $44.00M |
YoY Change | -29.09% | -76.6% |
Income Tax | $31.00M | $13.00M |
% Of Pretax Income | 26.5% | 29.55% |
Net Earnings | $84.00M | $33.00M |
YoY Change | -35.88% | -76.6% |
Net Earnings / Revenue | 4.24% | 1.72% |
Basic Earnings Per Share | $0.73 | $0.28 |
Diluted Earnings Per Share | $0.71 | $0.28 |
COMMON SHARES | ||
Basic Shares Outstanding | 116.0M shares | 115.9M shares |
Diluted Shares Outstanding | 119.0M shares | 118.0M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $355.0M | $290.0M |
YoY Change | -34.74% | -33.49% |
Cash & Equivalents | $355.0M | $290.0M |
Short-Term Investments | ||
Other Short-Term Assets | $199.0M | $224.0M |
YoY Change | -22.57% | -17.34% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $1.059B | $1.008B |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $1.613B | $1.522B |
YoY Change | -43.02% | -47.81% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.072B | $2.037B |
YoY Change | 13.35% | 13.23% |
Goodwill | $1.465B | $1.493B |
YoY Change | -34.28% | -34.63% |
Intangibles | $366.0M | $383.0M |
YoY Change | -26.21% | -26.63% |
Long-Term Investments | ||
YoY Change | ||
Other Assets | $217.0M | $213.0M |
YoY Change | -28.38% | -25.78% |
Total Long-Term Assets | $4.815B | $4.830B |
YoY Change | -15.11% | -15.62% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.613B | $1.522B |
Total Long-Term Assets | $4.815B | $4.830B |
Total Assets | $6.428B | $6.352B |
YoY Change | -24.4% | -26.48% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $473.0M | $464.0M |
YoY Change | -53.72% | -59.76% |
Accrued Expenses | $938.0M | $910.0M |
YoY Change | -23.86% | -27.08% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $66.00M | $66.00M |
YoY Change | 10.0% | 20.0% |
Total Short-Term Liabilities | $1.522B | $1.533B |
YoY Change | -37.67% | -41.8% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $2.447B | $2.452B |
YoY Change | -14.08% | -14.18% |
Other Long-Term Liabilities | $262.0M | $264.0M |
YoY Change | -14.38% | -14.84% |
Total Long-Term Liabilities | $3.709B | $3.700B |
YoY Change | -13.24% | -13.93% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.522B | $1.533B |
Total Long-Term Liabilities | $3.709B | $3.700B |
Total Liabilities | $5.231B | $5.233B |
YoY Change | -22.12% | -24.52% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $127.0M | $43.00M |
YoY Change | -84.18% | -93.6% |
Common Stock | $0.00 | $0.00 |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.197B | $1.119B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $6.428B | $6.352B |
YoY Change | -24.4% | -26.48% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $84.00M | $33.00M |
YoY Change | -35.88% | -76.6% |
Depreciation, Depletion And Amortization | $110.0M | $107.0M |
YoY Change | -6.78% | -6.96% |
Cash From Operating Activities | $233.0M | $131.0M |
YoY Change | -11.41% | -32.82% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $139.0M | $131.0M |
YoY Change | -209.45% | -200.77% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $8.000M | $5.000M |
YoY Change | -42.86% | -78.26% |
Cash From Investing Activities | -$131.0M | -$126.0M |
YoY Change | 15.93% | 17.76% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -35.00M | -26.00M |
YoY Change | 12.9% | -95.99% |
NET CHANGE | ||
Cash From Operating Activities | 233.0M | 131.0M |
Cash From Investing Activities | -131.0M | -126.0M |
Cash From Financing Activities | -35.00M | -26.00M |
Net Change In Cash | 67.00M | -21.00M |
YoY Change | -43.7% | -96.26% |
FREE CASH FLOW | ||
Cash From Operating Activities | $233.0M | $131.0M |
Capital Expenditures | $139.0M | $131.0M |
Free Cash Flow | $94.00M | $0.00 |
YoY Change | -75.9% | -100.0% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q2 | us-gaap |
Restricted Cash Noncurrent Asset Statement Of Financial Position Extensible List
RestrictedCashNoncurrentAssetStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent | |
CY2022Q4 | us-gaap |
Restricted Cash Noncurrent Asset Statement Of Financial Position Extensible List
RestrictedCashNoncurrentAssetStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent | |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
116000000 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
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116000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
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115000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
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115000000 | shares |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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47000000 | usd | |
CY2023Q2 | us-gaap |
Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
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31000000 | usd |
CY2023Q2 | us-gaap |
Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
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31000000 | usd |
us-gaap |
Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersDiluted
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501000000 | usd | |
us-gaap |
Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
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501000000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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47000000 | usd | |
CY2022Q2 | xpo |
Stock Issued During Period Value Share Based Compensation Exercised And Vested
StockIssuedDuringPeriodValueShareBasedCompensationExercisedAndVested
|
0 | usd |
CY2022Q2 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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1000000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
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10000000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity Other
StockholdersEquityOther
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CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
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CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
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1138000000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
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629000000 | usd | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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-68000000 | usd | |
xpo |
Stock Issued During Period Value Share Based Compensation Exercised And Vested
StockIssuedDuringPeriodValueShareBasedCompensationExercisedAndVested
|
0 | usd | |
us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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13000000 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
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18000000 | usd | |
us-gaap |
Stockholders Equity Other
StockholdersEquityOther
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CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
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1707000000 | usd |
CY2023Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
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7000000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
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10000000 | usd |
CY2023Q2 | xpo |
Accounts Receivable Sold In Securitization Program
AccountsReceivableSoldInSecuritizationProgram
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470000000 | usd |
CY2022Q2 | xpo |
Accounts Receivable Sold In Securitization Program
AccountsReceivableSoldInSecuritizationProgram
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458000000 | usd |
xpo |
Accounts Receivable Sold In Securitization Program
AccountsReceivableSoldInSecuritizationProgram
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910000000 | usd | |
xpo |
Accounts Receivable Sold In Securitization Program
AccountsReceivableSoldInSecuritizationProgram
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Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
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470000000 | usd |
CY2022Q2 | us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
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458000000 | usd |
us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
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910000000 | usd | |
us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
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905000000 | usd | |
CY2023Q2 | xpo |
Accounts Receivable Sold In Factoring Programs
AccountsReceivableSoldInFactoringPrograms
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34000000 | usd |
CY2022Q2 | xpo |
Accounts Receivable Sold In Factoring Programs
AccountsReceivableSoldInFactoringPrograms
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23000000 | usd |
xpo |
Accounts Receivable Sold In Factoring Programs
AccountsReceivableSoldInFactoringPrograms
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Accounts Receivable Sold In Factoring Programs
AccountsReceivableSoldInFactoringPrograms
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44000000 | usd | |
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Proceeds From Accounts Receivable Factoring Program
ProceedsFromAccountsReceivableFactoringProgram
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CY2022Q2 | xpo |
Proceeds From Accounts Receivable Factoring Program
ProceedsFromAccountsReceivableFactoringProgram
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xpo |
Proceeds From Accounts Receivable Factoring Program
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xpo |
Proceeds From Accounts Receivable Factoring Program
ProceedsFromAccountsReceivableFactoringProgram
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44000000 | usd | |
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Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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1917000000 | usd |
CY2023Q2 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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231000000 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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402000000 | usd |
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Number Of Reportable Segments
NumberOfReportableSegments
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CY2023Q2 | us-gaap |
Revenues
Revenues
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CY2022Q2 | us-gaap |
Revenues
Revenues
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Revenues
Revenues
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3824000000 | usd | |
us-gaap |
Revenues
Revenues
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CY2023Q2 | xpo |
Adjusted Earnings Before Interest Taxes Depreciation Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAmortization
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244000000 | usd |
CY2022Q2 | xpo |
Adjusted Earnings Before Interest Taxes Depreciation Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAmortization
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289000000 | usd |
xpo |
Adjusted Earnings Before Interest Taxes Depreciation Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAmortization
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454000000 | usd | |
xpo |
Adjusted Earnings Before Interest Taxes Depreciation Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAmortization
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473000000 | usd | |
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Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022Q2 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2023Q2 | us-gaap |
Interest Expense
InterestExpense
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43000000 | usd |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
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31000000 | usd |
us-gaap |
Interest Expense
InterestExpense
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85000000 | usd | |
us-gaap |
Interest Expense
InterestExpense
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68000000 | usd | |
CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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Depreciation And Amortization
DepreciationAndAmortization
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Depreciation And Amortization
DepreciationAndAmortization
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us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
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208000000 | usd | |
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Depreciation And Amortization
DepreciationAndAmortization
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190000000 | usd | |
CY2023Q2 | xpo |
Transaction And Integration Costs
TransactionAndIntegrationCosts
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17000000 | usd |
CY2022Q2 | xpo |
Transaction And Integration Costs
TransactionAndIntegrationCosts
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Transaction And Integration Costs
TransactionAndIntegrationCosts
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39000000 | usd | |
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Transaction And Integration Costs
TransactionAndIntegrationCosts
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Restructuring Costs
RestructuringCosts
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CY2022Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
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Restructuring Costs
RestructuringCosts
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Restructuring Costs
RestructuringCosts
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Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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Restructuring Reserve
RestructuringReserve
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us-gaap |
Restructuring Charges
RestructuringCharges
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Payments For Restructuring
PaymentsForRestructuring
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us-gaap |
Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
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1000000 | usd | |
CY2023Q2 | us-gaap |
Restructuring Reserve
RestructuringReserve
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22000000 | usd |
CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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-2000000 | usd |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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32000000 | usd |
CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
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1000000 | usd |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
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CY2023Q2 | us-gaap |
Derivative Excluded Component Gain Loss Recognized In Earnings
DerivativeExcludedComponentGainLossRecognizedInEarnings
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2000000 | usd |
CY2022Q2 | us-gaap |
Derivative Excluded Component Gain Loss Recognized In Earnings
DerivativeExcludedComponentGainLossRecognizedInEarnings
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us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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-11000000 | usd | |
us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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42000000 | usd | |
us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
1000000 | usd | |
us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
0 | usd | |
us-gaap |
Derivative Excluded Component Gain Loss Recognized In Earnings
DerivativeExcludedComponentGainLossRecognizedInEarnings
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4000000 | usd | |
us-gaap |
Derivative Excluded Component Gain Loss Recognized In Earnings
DerivativeExcludedComponentGainLossRecognizedInEarnings
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4000000 | usd | |
CY2022Q2 | us-gaap |
Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
|
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CY2023Q2 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
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CY2022Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
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2638000000 | usd |
CY2023Q2 | xpo |
Short Term Debt And Current Maturities Of Long Term Debt
ShortTermDebtAndCurrentMaturitiesOfLongTermDebt
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66000000 | usd |
CY2022Q4 | xpo |
Short Term Debt And Current Maturities Of Long Term Debt
ShortTermDebtAndCurrentMaturitiesOfLongTermDebt
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59000000 | usd |
CY2023Q2 | xpo |
Long Term Debt And Capital Lease Obligations Excluding Current Maturities And Short Term Debt
LongTermDebtAndCapitalLeaseObligationsExcludingCurrentMaturitiesAndShortTermDebt
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2556000000 | usd |
CY2022Q4 | xpo |
Long Term Debt And Capital Lease Obligations Excluding Current Maturities And Short Term Debt
LongTermDebtAndCapitalLeaseObligationsExcludingCurrentMaturitiesAndShortTermDebt
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2579000000 | usd |
CY2023Q2 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
2616000000 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
2601000000 | usd |
us-gaap |
Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
|
128000000 | usd | |
us-gaap |
Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
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501000000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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629000000 | usd | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
115000000 | shares | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1000000 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
116000000 | shares | |
us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
1.12 | ||
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
4.36 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
5.48 | ||
us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
1.11 | ||
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
4.33 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
5.44 |