Income Statement

Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update)
Net Sales 7,070.10 7,159.00 6,613.80 6,086.50
Revenue 7,070.10 7,159.00 6,613.80 6,086.50
Total Revenue 7,070.10 7,159.00 6,613.80 6,086.50
Cost of Revenue 5,166.00 5,243.50 4,801.60 4,386.80
Cost of Revenue, Total 5,166.00 5,243.50 4,801.60 4,386.80
Gross Profit 1,904.10 1,915.50 1,812.20 1,699.70
Selling/General/Administrative Expense 949.80 1,022.00 956.70 976.50
Labor & Related Expense 34.50 34.30 30.20 27.20
Advertising Expense -- -- -- --
Selling/General/Administrative Expenses, Total 984.30 1,056.30 986.90 1,003.70
Research & Development 92.60 98.20 93.40 89.70
Interest Expense - Operating 75.80 58.50 63.00 59.90
Interest Capitalized - Operating -- -- -- --
Interest Expense, Net - Operating 75.80 58.50 63.00 59.90
Investment Income - Operating 3.50 -27.00 42.90 4.10
Interest/Investment Income - Operating 3.50 -27.00 42.90 4.10
Interest Expense (Income), Net-Operating, Total 79.30 31.50 105.90 64.00
Restructuring Charge 45.30 63.50 31.20 14.70
Litigation 3.40 -- 0.00 0.00
Impairment-Assets Held for Use 5.10 10.70 2.20 5.20
Loss (Gain) on Sale of Assets - Operating -3.20 -2.70 -2.10 -1.10
Other Unusual Expense (Income) 446.70 -1.60 5.20 46.40
Unusual Expense (Income) 497.30 69.90 36.50 65.20
Total Operating Expense 6,819.50 6,499.40 6,024.30 5,609.40
Operating Income 250.60 659.60 589.50 477.10
Other Non-Operating Income (Expense) -1.10 -104.80 -- --
Other, Net -1.10 -104.80 -- --
Net Income Before Taxes 249.50 554.80 589.50 477.10
Income Tax – Total -56.70 81.80 135.70 156.40
Income After Tax 306.20 473.00 453.80 320.70
Equity In Affiliates -2.60 -2.00 -- --
Net Income Before Extraordinary Items 303.60 471.00 453.80 320.70
Discontinued Operations -- -- 0.00 0.00
Extraordinary Item 0.00 -3.60 -172.00 --
Total Extraordinary Items 0.00 -3.60 -172.00 0.00
Net Income 303.60 467.40 281.80 320.70
Income Available to Common Excluding Extraordinary Items 303.60 471.00 453.80 320.70
Income Available to Common Stocks Including Extraordinary Items 303.60 467.40 281.80 320.70
Basic Weighted Average Shares 84.00 87.30 88.30 89.10
Basic EPS Excluding Extraordinary Items 3.61 5.40 5.14 3.60
Basic EPS Including Extraordinary Items 3.61 5.35 3.19 3.60
Dilution Adjustment -- -- -- --
Diluted Net Income 303.60 467.40 281.80 320.70
Diluted Weighted Average Shares 85.00 88.60 90.10 90.70
Diluted EPS Excluding Extraordinary Items 3.57 5.32 5.04 3.54
Diluted EPS Including Extraordinary Items 3.57 5.28 3.13 3.54
DPS - Common Stock Primary Issue 2.26 2.01 1.76 1.60
Gross Dividends - Common Stock 189.70 175.00 155.50 142.50
Total Special Items 497.30 69.90 36.50 65.20
Normalized Income Before Taxes 746.80 624.70 626.00 542.30
Effect of Special Items on Income Taxes 174.06 10.31 8.40 21.37
Income Taxes Excluding Impact of Special Items 117.36 92.11 144.10 177.77
Normalized Income After Taxes 629.45 532.59 481.90 364.53
Normalized Income Available to Common 626.85 530.59 481.90 364.53
Basic Normalized EPS 7.46 6.08 5.46 4.09
Diluted Normalized EPS 7.37 5.99 5.35 4.02
Amortization of Intangibles, Supplemental 38.70 39.50 52.10 62.60
Depreciation, Supplemental 140.30 141.50 126.60 117.50
Interest Expense, Supplemental 75.80 58.50 63.00 59.90
Interest Capitalized, Supplemental -5.30 -5.30 -4.90 -3.60
Rental Expense, Supplemental 65.40 66.00 64.00 58.00
Stock-Based Compensation, Supplemental 34.50 34.30 30.20 27.20
Advertising Expense, Supplemental -- -- -- --
Equity in Affiliates, Supplemental -2.60 -2.00 -- --
Research & Development Expense, Supplemental 92.60 98.20 93.40 89.70
Audit-Related Fees, Supplemental -- 7.95 8.03 7.00
Audit-Related Fees -- 0.50 0.45 0.80
Tax Fees, Supplemental -- 4.10 3.32 4.00
All Other Fees Paid to Auditor, Supplemental -- 0.04 0.06 0.00
Gross Margin 26.93 26.76 27.40 27.93
Operating Margin 3.54 9.21 8.91 7.84
Pretax Margin 3.53 7.75 8.91 7.84
Effective Tax Rate -22.73 14.74 23.02 32.78
Net Profit Margin 4.29 6.58 6.86 5.27
Normalized EBIT 827.20 761.00 731.90 606.30
Normalized EBITDA 1,006.20 942.00 910.60 786.40
Current Tax - Domestic 11.00 -19.70 -109.30 10.10
Current Tax - Foreign 148.10 134.30 111.00 77.30
Current Tax - Local 0.50 0.80 0.20 0.60
Current Tax - Total 159.60 115.40 1.90 88.00
Deferred Tax - Domestic -168.00 -6.30 119.10 64.40
Deferred Tax - Foreign -39.40 -26.00 18.40 7.00
Deferred Tax - Local -8.90 2.30 -3.70 -3.00
Deferred Tax - Total -216.30 -30.00 133.80 68.40
Other Tax -- -3.60 -- --
Income Tax - Total -56.70 81.80 135.70 156.40
Interest Cost - Domestic 2.70 34.50 35.30 34.40
Service Cost - Domestic 0.00 0.00 0.50 0.80
Prior Service Cost - Domestic 0.00 0.80 0.90 1.20
Expected Return on Assets - Domestic 0.00 -42.50 -40.50 -42.70
Actuarial Gains and Losses - Domestic 3.00 20.60 20.40 19.00
Curtailments & Settlements - Domestic 443.50 -- -- --
Transition Costs - Domestic -- -- -- --
Other Pension, Net - Domestic -- 0.00 0.00 41.40
Domestic Pension Plan Expense 449.20 13.40 16.60 54.10
Interest Cost - Foreign 14.80 15.70 14.30 16.40
Service Cost - Foreign 15.60 19.20 18.20 13.90
Prior Service Cost - Foreign -0.40 -0.50 -0.40 0.00
Expected Return on Assets - Foreign -21.00 -23.80 -21.10 -21.40
Actuarial Gains and Losses - Foreign 4.00 8.10 10.80 7.00
Curtailments & Settlements - Foreign 0.60 0.00 0.00 -0.20
Transition Costs - Foreign -- 0.00 0.00 0.10
Foreign Pension Plan Expense 13.60 18.70 21.80 15.80
Interest Cost - Post-Retirement -- 0.10 0.10 0.10
Service Cost - Post-Retirement -- 0.00 0.00 0.00
Prior Service Cost - Post-Retirement -- -3.30 -3.30 -3.20
Actuarial Gains and Losses - Post-Retirement -- 1.40 1.50 1.70
Curtailments & Settlements - Post-Retirement -- -- -- --
Post-Retirement Plan Expense -- -1.80 -1.70 -1.40
Defined Contribution Expense - Domestic 22.40 21.80 20.20 20.00
Total Pension Expense 485.20 52.10 56.90 88.50
Discount Rate - Domestic 3.73 3.72 4.18 4.55
Discount Rate - Foreign 2.39 2.25 2.12 2.95
Discount Rate - Post-Retirement -- 3.55 3.95 4.13
Expected Rate of Return - Domestic 0.00 7.00 7.00 7.25
Expected Rate of Return - Foreign 3.38 7.00 7.25 4.14
Compensation Rate - Domestic 0.00 -- -- --
Compensation Rate - Foreign 2.23 2.26 2.27 2.24
Total Plan Interest Cost 17.50 50.30 49.70 50.90
Total Plan Service Cost 15.60 19.20 18.70 14.70
Total Plan Expected Return -21.00 -66.30 -61.60 -64.10
Total Plan Other Expense -- 0.00 0.00 41.40

In millions of USD (except for per share items)

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