Income Statement

Income Statement

  Year Ending Dec 2016 (Update) Year Ending Jan 2016 (Update) Year Ending Jan 2015 (Restated) Year Ending Dec 2013 (Restated)
Net Sales 6.09M 5.97M 6.33M 6.14M
Revenue 6.09M 5.97M 6.33M 6.14M
Total Revenue 6.09M 5.97M 6.33M 6.14M
Cost of Revenue 4.39M 4.32M 4.68M 4.50M
Cost of Revenue, Total 4.39M 4.32M 4.68M 4.50M
Gross Profit 1.70M 1.65M 1.65M 1.64M
Selling/General/Administrative Expense 1.01M 1.02M 1.06M 1.08M
Advertising Expense
Selling/General/Administrative Expenses, Total 1.01M 1.02M 1.06M 1.08M
Research & Development 89.70 91.90 102.50 96.00
Interest Expense - Operating 60.00 60.60 63.40 60.80
Interest Capitalized - Operating
Interest Expense, Net - Operating 60.00 60.60 63.40 60.80
Investment Income - Operating -0.10 -0.10 -0.10 0.10
Interest/Investment Income - Operating -0.10 -0.10 -0.10 0.10
Interest Expense (Income), Net-Operating, Total 59.90 60.50 63.30 60.90
Restructuring Charge 14.70 52.50 54.70 27.20
Litigation -- -0.30 -- 2.50
Impairment-Assets Held for Use 5.20 7.00 11.40 13.10
Loss (Gain) on Sale of Assets - Operating -1.10 -1.70 -2.50 -17.80
Other Unusual Expense (Income) 46.40 10.80 4.60 11.60
Unusual Expense (Income) 65.20 68.30 68.20 36.60
Other, Net
Other Operating Expenses, Total
Total Operating Expense 5.61M 5.56M 5.97M 5.77M
Operating Income 477.10 408.90 360.80 366.00
Net Income Before Taxes 477.10 408.90 360.80 366.00
Income Tax – Total 156.40 134.50 113.50 124.30
Income After Tax 320.70 274.40 247.30 241.70
Net Income Before Extraordinary Items 320.70 274.40 247.30 241.70
Discontinued Operations -- -0.10 -2.20 -28.50
Total Extraordinary Items -- -0.10 -2.20 -28.50
Net Income 320.70 274.30 245.10 213.20
Income Available to Common Excluding Extraordinary Items 320.70 274.40 247.30 241.70
Income Available to Common Stocks Including Extraordinary Items 320.70 274.30 245.10 213.20
Basic Weighted Average Shares 89.10 91.00 93.80 98.40
Basic EPS Excluding Extraordinary Items 3.60 3.02 2.64 2.46
Basic EPS Including Extraordinary Items 3.60 3.01 2.61 2.17
Dilution Adjustment
Diluted Net Income 320.70 274.30 245.10 213.20
Diluted Weighted Average Shares 90.70 92.90 95.70 100.10
Diluted EPS Excluding Extraordinary Items 3.54 2.95 2.58 2.41
Diluted EPS Including Extraordinary Items 3.54 2.95 2.56 2.13
DPS - Common Stock Primary Issue 1.60 1.46 1.34 1.14
Gross Dividends - Common Stock 142.50 133.10 125.10 112.00
Stock-Based Compensation, Supplemental 27.20 26.30 28.30 32.30
Interest Expense, Supplemental 56.40 57.60 59.50 57.50
Interest Capitalized, Supplemental -3.60 -3.00 -3.90 -3.30
Depreciation, Supplemental 117.50 125.20 135.50 135.60
Total Special Items 65.20 68.30 68.20 36.60
Normalized Income Before Taxes 542.30 477.20 429.00 402.60
Effect of Special Items on Income Taxes 21.37 22.47 21.45 12.43
Income Taxes Excluding Impact of Special Items 177.77 156.97 134.95 136.73
Normalized Income After Taxes 364.53 320.23 294.05 265.87
Normalized Income Available to Common 364.53 320.23 294.05 265.87
Basic Normalized EPS 4.09 3.52 3.13 2.70
Diluted Normalized EPS 4.02 3.45 3.07 2.66
Amortization of Intangibles, Supplemental 62.60 63.10 66.10 69.00
Rental Expense, Supplemental 58.00 58.00 67.00 70.00
Advertising Expense, Supplemental
Research & Development Expense, Supplemental 89.70 91.90 102.50 96.00
Audit-Related Fees, Supplemental 7.00 5.80 6.50
Audit-Related Fees 0.80 0.30 0.20
Tax Fees, Supplemental 4.00 3.50 4.20
All Other Fees Paid to Auditor, Supplemental -- -- 0.10
Gross Margin 27.93 27.58 26.08 26.67
Operating Margin 7.84 6.85 5.70 5.96
Pretax Margin 7.84 6.85 5.70 5.96
Effective Tax Rate 32.78 32.89 31.46 33.96
Net Profit Margin 5.27 4.60 3.91 3.94
Normalized EBIT 602.20 537.70 492.30 463.50
Normalized EBITDA 782.30 726.00 693.90 668.10
Current Tax - Domestic 10.10 26.40 14.50 1.90
Current Tax - Foreign 77.30 92.70 116.00 114.00
Current Tax - Local 0.60 -0.10 -0.20 0.30
Current Tax - Total 88.00 119.00 130.30 116.20
Deferred Tax - Domestic 64.40 6.30 -16.10 -11.10
Deferred Tax - Foreign 7.00 8.70 -2.60 11.80
Deferred Tax - Local -3.00 0.50 1.90 7.40
Deferred Tax - Total 68.40 15.50 -16.80 8.10
Income Tax - Total 156.40 134.50 113.50 124.30
Interest Cost - Domestic 34.40 45.80
Service Cost - Domestic 0.80 0.40
Prior Service Cost - Domestic 1.20 1.20
Expected Return on Assets - Domestic -42.70 -51.50
Actuarial Gains and Losses - Domestic 19.00 20.00
Curtailments & Settlements - Domestic
Transition Costs - Domestic
Other Pension, Net - Domestic 41.40 --
Domestic Pension Plan Expense 54.10 15.90
Interest Cost - Foreign 16.40 17.30
Service Cost - Foreign 13.90 13.80
Prior Service Cost - Foreign -- --
Expected Return on Assets - Foreign -21.40 -21.50
Actuarial Gains and Losses - Foreign 7.00 9.40
Curtailments & Settlements - Foreign -0.20 4.10
Transition Costs - Foreign 0.10 --
Foreign Pension Plan Expense 15.80 23.10
Interest Cost - Post-Retirement 0.10 0.30
Service Cost - Post-Retirement -- --
Prior Service Cost - Post-Retirement -3.20 -3.30
Actuarial Gains and Losses - Post-Retirement 1.70 2.20
Curtailments & Settlements - Post-Retirement
Post-Retirement Plan Expense -1.40 -0.80
Defined Contribution Expense - Domestic 20.00 20.20
Total Pension Expense 88.50 58.40
Discount Rate - Domestic 4.55 4.00
Discount Rate - Foreign 2.95 2.54
Discount Rate - Post-Retirement 4.13 3.50
Expected Rate of Return - Domestic 7.25 7.50
Expected Rate of Return - Foreign 4.14 4.27
Compensation Rate - Domestic
Compensation Rate - Foreign 2.24 2.22
Total Plan Interest Cost 50.90 63.40
Total Plan Service Cost 14.70 14.20
Total Plan Expected Return -64.10 -73.00
Total Plan Other Expense 41.40 --

In millions of USD (except for per share items)

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