Income Statement

Income Statement

  Year Ending Jan 2021 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update)
Net Sales 6,971.50 7,070.10 7,159.00 6,613.80
Revenue 6,971.50 7,070.10 7,159.00 6,613.80
Total Revenue 6,971.50 7,070.10 7,159.00 6,613.80
Cost of Revenue 5,048.20 5,166.00 5,243.50 4,801.60
Cost of Revenue, Total 5,048.20 5,166.00 5,243.50 4,801.60
Gross Profit 1,923.30 1,904.10 1,915.50 1,812.20
Selling/General/Administrative Expense 947.70 949.80 1,022.00 956.70
Labor & Related Expense -- 34.50 34.30 30.20
Advertising Expense -- -- -- --
Selling/General/Administrative Expenses, Total 947.70 984.30 1,056.30 986.90
Research & Development 112.80 92.60 98.20 93.40
Interest Expense - Operating 70.00 75.80 58.50 63.00
Interest Capitalized - Operating -- -- -- --
Interest Expense, Net - Operating 70.00 75.80 58.50 63.00
Investment Income - Operating -5.40 3.50 -27.00 42.90
Interest/Investment Income - Operating -5.40 3.50 -27.00 42.90
Interest Expense (Income), Net-Operating, Total 64.60 79.30 31.50 105.90
Restructuring Charge 49.10 45.30 63.50 31.20
Litigation 0.00 3.40 -- 0.00
Impairment-Assets Held for Use 6.20 5.10 10.70 2.20
Loss (Gain) on Sale of Assets - Operating -0.50 -3.20 -2.70 -2.10
Other Unusual Expense (Income) 4.20 446.70 -1.60 5.20
Unusual Expense (Income) 59.00 497.30 69.90 36.50
Total Operating Expense 6,232.30 6,819.50 6,499.40 6,024.30
Operating Income 739.20 250.60 659.60 589.50
Other Non-Operating Income (Expense) -1.90 -1.10 -104.80 --
Other, Net -1.90 -1.10 -104.80 --
Net Income Before Taxes 737.30 249.50 554.80 589.50
Income Tax – Total 177.70 -56.70 81.80 135.70
Income After Tax 559.60 306.20 473.00 453.80
Equity In Affiliates -3.70 -2.60 -2.00 --
Net Income Before Extraordinary Items 555.90 303.60 471.00 453.80
Discontinued Operations -- -- -- 0.00
Extraordinary Item -- 0.00 -3.60 -172.00
Total Extraordinary Items -- 0.00 -3.60 -172.00
Net Income 555.90 303.60 467.40 281.80
Income Available to Common Excluding Extraordinary Items 555.90 303.60 471.00 453.80
Income Available to Common Stocks Including Extraordinary Items 555.90 303.60 467.40 281.80
Basic Weighted Average Shares 83.40 84.00 87.30 88.30
Basic EPS Excluding Extraordinary Items 6.67 3.61 5.40 5.14
Basic EPS Including Extraordinary Items 6.67 3.61 5.35 3.19
Dilution Adjustment -- -- -- --
Diluted Net Income 555.90 303.60 467.40 281.80
Diluted Weighted Average Shares 84.10 85.00 88.60 90.10
Diluted EPS Excluding Extraordinary Items 6.61 3.57 5.32 5.04
Diluted EPS Including Extraordinary Items 6.61 3.57 5.28 3.13
DPS - Common Stock Primary Issue 2.36 2.26 2.01 1.76
Gross Dividends - Common Stock 196.80 189.70 175.00 155.50
Total Special Items 59.00 497.30 69.90 36.50
Normalized Income Before Taxes 796.30 746.80 624.70 626.00
Effect of Special Items on Income Taxes 14.22 174.06 10.31 8.40
Income Taxes Excluding Impact of Special Items 191.92 117.36 92.11 144.10
Normalized Income After Taxes 604.38 629.45 532.59 481.90
Normalized Income Available to Common 600.68 626.85 530.59 481.90
Basic Normalized EPS 7.20 7.46 6.08 5.46
Diluted Normalized EPS 7.14 7.37 5.99 5.35
Amortization of Intangibles, Supplemental 51.10 38.70 39.50 52.10
Depreciation, Supplemental 154.20 140.30 141.50 126.60
Interest Expense, Supplemental 70.00 75.80 58.50 63.00
Interest Capitalized, Supplemental -3.90 -5.30 -5.30 -4.90
Rental Expense, Supplemental 63.10 65.40 66.00 64.00
Stock-Based Compensation, Supplemental 24.00 34.50 34.30 30.20
Advertising Expense, Supplemental -- -- -- --
Equity in Affiliates, Supplemental -3.70 -2.60 -2.00 --
Research & Development Expense, Supplemental 112.80 92.60 98.20 93.40
Audit-Related Fees, Supplemental -- -- 7.95 8.03
Audit-Related Fees -- -- 0.50 0.45
Tax Fees, Supplemental -- -- 4.10 3.32
All Other Fees Paid to Auditor, Supplemental -- -- 0.04 0.06
Gross Margin 27.59 26.93 26.76 27.40
Operating Margin 10.60 3.54 9.21 8.91
Pretax Margin 10.58 3.53 7.75 8.91
Effective Tax Rate 24.10 -22.73 14.74 23.02
Net Profit Margin 7.97 4.29 6.58 6.86
Normalized EBIT 862.80 827.20 761.00 731.90
Normalized EBITDA 1,068.10 1,006.20 942.00 910.60
Current Tax - Domestic 1.10 11.00 -19.70 -109.30
Current Tax - Foreign 168.50 148.10 134.30 111.00
Current Tax - Local 1.90 0.50 0.80 0.20
Current Tax - Total 171.50 159.60 115.40 1.90
Deferred Tax - Domestic 5.00 -168.00 -6.30 119.10
Deferred Tax - Foreign -0.40 -39.40 -26.00 18.40
Deferred Tax - Local 1.60 -8.90 2.30 -3.70
Deferred Tax - Total 6.20 -216.30 -30.00 133.80
Other Tax -- -- -3.60 --
Income Tax - Total 177.70 -56.70 81.80 135.70
Interest Cost - Domestic 1.80 2.70 34.50 35.30
Service Cost - Domestic 0.00 0.00 0.00 0.50
Prior Service Cost - Domestic 0.00 0.00 0.80 0.90
Expected Return on Assets - Domestic 0.00 0.00 -42.50 -40.50
Actuarial Gains and Losses - Domestic 4.30 3.00 20.60 20.40
Curtailments & Settlements - Domestic 0.20 443.50 -- --
Other Pension, Net - Domestic -- -- 0.00 0.00
Domestic Pension Plan Expense 6.30 449.20 13.40 16.60
Interest Cost - Foreign 11.00 14.80 15.70 14.30
Service Cost - Foreign 17.80 15.60 19.20 18.20
Prior Service Cost - Foreign -0.40 -0.40 -0.50 -0.40
Expected Return on Assets - Foreign -18.50 -21.00 -23.80 -21.10
Actuarial Gains and Losses - Foreign 5.20 4.00 8.10 10.80
Curtailments & Settlements - Foreign 0.30 0.60 0.00 0.00
Transition Costs - Foreign -- -- 0.00 0.00
Foreign Pension Plan Expense 15.40 13.60 18.70 21.80
Interest Cost - Post-Retirement -- -- 0.10 0.10
Service Cost - Post-Retirement -- -- 0.00 0.00
Prior Service Cost - Post-Retirement -- -- -3.30 -3.30
Actuarial Gains and Losses - Post-Retirement -- -- 1.40 1.50
Post-Retirement Plan Expense -- -- -1.80 -1.70
Defined Contribution Expense - Domestic 22.70 22.40 21.80 20.20
Total Pension Expense 44.40 485.20 52.10 56.90
Discount Rate - Domestic 2.89 3.73 3.72 4.18
Discount Rate - Foreign 1.66 2.39 2.25 2.12
Discount Rate - Post-Retirement -- -- 3.55 3.95
Expected Rate of Return - Domestic 0.00 0.00 7.00 7.00
Expected Rate of Return - Foreign 2.79 3.38 7.00 7.25
Compensation Rate - Domestic 0.00 0.00 -- --
Compensation Rate - Foreign 2.21 2.23 2.26 2.27
Total Plan Interest Cost 12.80 17.50 50.30 49.70
Total Plan Service Cost 17.80 15.60 19.20 18.70
Total Plan Expected Return -18.50 -21.00 -66.30 -61.60
Total Plan Other Expense -- -- 0.00 0.00

In millions of USD (except for per share items)

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