Income Statement

Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Jan 2016 (Update)
Net Sales 7,159.00 6,613.80 6,086.50 5,966.90
Revenue 7,159.00 6,613.80 6,086.50 5,966.90
Total Revenue 7,159.00 6,613.80 6,086.50 5,966.90
Cost of Revenue 5,243.50 4,801.60 4,386.80 4,321.10
Cost of Revenue, Total 5,243.50 4,801.60 4,386.80 4,321.10
Gross Profit 1,915.50 1,812.20 1,699.70 1,645.80
Selling/General/Administrative Expense 1,022.00 956.70 976.50 1,016.20
Labor & Related Expense 34.30 30.20 27.20 --
Advertising Expense -- -- -- --
Selling/General/Administrative Expenses, Total 1,056.30 986.90 1,003.70 1,016.20
Research & Development 98.20 93.40 89.70 91.90
Interest Expense - Operating 58.50 63.00 59.90 60.60
Interest Capitalized - Operating -- -- -- --
Interest Expense, Net - Operating 58.50 63.00 59.90 60.60
Investment Income - Operating -27.00 42.90 4.10 -0.10
Interest/Investment Income - Operating -27.00 42.90 4.10 -0.10
Interest Expense (Income), Net-Operating, Total 31.50 105.90 64.00 60.50
Restructuring Charge 63.50 31.20 14.70 52.50
Litigation -- 0.00 0.00 -0.30
Impairment-Assets Held for Use 10.70 2.20 5.20 7.00
Loss (Gain) on Sale of Assets - Operating -2.70 -2.10 -1.10 -1.70
Other Unusual Expense (Income) -1.60 5.20 46.40 10.80
Unusual Expense (Income) 69.90 36.50 65.20 68.30
Total Operating Expense 6,499.40 6,024.30 5,609.40 5,558.00
Operating Income 659.60 589.50 477.10 408.90
Other Non-Operating Income (Expense) -104.80 -- -- --
Other, Net -104.80 -- -- --
Net Income Before Taxes 554.80 589.50 477.10 408.90
Income Tax – Total 81.80 135.70 156.40 134.50
Income After Tax 473.00 453.80 320.70 274.40
Equity In Affiliates -2.00 -- -- --
Net Income Before Extraordinary Items 471.00 453.80 320.70 274.40
Discontinued Operations -- 0.00 0.00 -0.10
Extraordinary Item -3.60 -172.00 -- --
Total Extraordinary Items -3.60 -172.00 0.00 -0.10
Net Income 467.40 281.80 320.70 274.30
Income Available to Common Excluding Extraordinary Items 471.00 453.80 320.70 274.40
Income Available to Common Stocks Including Extraordinary Items 467.40 281.80 320.70 274.30
Basic Weighted Average Shares 87.30 88.30 89.10 91.00
Basic EPS Excluding Extraordinary Items 5.40 5.14 3.60 3.02
Basic EPS Including Extraordinary Items 5.35 3.19 3.60 3.01
Dilution Adjustment 0.41 -- -- --
Diluted Net Income 467.81 281.80 320.70 274.30
Diluted Weighted Average Shares 88.60 90.10 90.70 92.90
Diluted EPS Excluding Extraordinary Items 5.32 5.04 3.54 2.95
Diluted EPS Including Extraordinary Items 5.28 3.13 3.54 2.95
DPS - Common Stock Primary Issue 2.01 1.76 1.60 1.46
Gross Dividends - Common Stock 175.00 155.50 142.50 133.10
Total Special Items 69.90 36.50 65.20 68.30
Normalized Income Before Taxes 624.70 626.00 542.30 477.20
Effect of Special Items on Income Taxes 10.31 8.40 21.37 22.47
Income Taxes Excluding Impact of Special Items 92.11 144.10 177.77 156.97
Normalized Income After Taxes 532.59 481.90 364.53 320.23
Normalized Income Available to Common 530.59 481.90 364.53 320.23
Basic Normalized EPS 6.08 5.46 4.09 3.52
Diluted Normalized EPS 5.99 5.35 4.02 3.45
Amortization of Intangibles, Supplemental 39.50 52.10 62.60 63.10
Depreciation, Supplemental 141.50 126.60 117.50 125.20
Interest Expense, Supplemental 58.50 63.00 59.90 57.60
Interest Capitalized, Supplemental -5.30 -4.90 -3.60 -3.00
Rental Expense, Supplemental 66.00 64.00 58.00 58.00
Stock-Based Compensation, Supplemental 34.30 30.20 27.20 26.30
Advertising Expense, Supplemental -- -- -- --
Equity in Affiliates, Supplemental -2.00 -- -- --
Research & Development Expense, Supplemental 98.20 93.40 89.70 91.90
Audit-Related Fees, Supplemental -- 8.03 7.00 5.80
Audit-Related Fees -- 0.45 0.80 0.30
Tax Fees, Supplemental -- 3.32 4.00 3.50
All Other Fees Paid to Auditor, Supplemental -- 0.06 0.00 0.00
Gross Margin 26.76 27.40 27.93 27.58
Operating Margin 9.21 8.91 7.84 6.85
Pretax Margin 7.75 8.91 7.84 6.85
Effective Tax Rate 14.74 23.02 32.78 32.89
Net Profit Margin 6.58 6.86 5.27 4.60
Normalized EBIT 761.00 731.90 606.30 537.70
Normalized EBITDA 942.00 910.60 786.40 726.00
Current Tax - Domestic -19.70 -109.30 10.10 26.40
Current Tax - Foreign 134.30 111.00 77.30 92.70
Current Tax - Local 0.80 0.20 0.60 -0.10
Current Tax - Total 115.40 1.90 88.00 119.00
Deferred Tax - Domestic -6.30 119.10 64.40 6.30
Deferred Tax - Foreign -26.00 18.40 7.00 8.70
Deferred Tax - Local 2.30 -3.70 -3.00 0.50
Deferred Tax - Total -30.00 133.80 68.40 15.50
Other Tax -3.60 -- -- --
Income Tax - Total 81.80 135.70 156.40 134.50
Interest Cost - Domestic 34.50 35.30 34.40 45.80
Service Cost - Domestic 0.00 0.50 0.80 0.40
Prior Service Cost - Domestic 0.80 0.90 1.20 1.20
Expected Return on Assets - Domestic -42.50 -40.50 -42.70 -51.50
Actuarial Gains and Losses - Domestic 20.60 20.40 19.00 20.00
Curtailments & Settlements - Domestic -- -- -- --
Transition Costs - Domestic -- -- -- --
Other Pension, Net - Domestic 0.00 0.00 41.40 0.00
Domestic Pension Plan Expense 13.40 16.60 54.10 15.90
Interest Cost - Foreign 15.70 14.30 16.40 17.30
Service Cost - Foreign 19.20 18.20 13.90 13.80
Prior Service Cost - Foreign -0.50 -0.40 0.00 0.00
Expected Return on Assets - Foreign -23.80 -21.10 -21.40 -21.50
Actuarial Gains and Losses - Foreign 8.10 10.80 7.00 9.40
Curtailments & Settlements - Foreign 0.00 0.00 -0.20 4.10
Transition Costs - Foreign 0.00 0.00 0.10 0.00
Foreign Pension Plan Expense 18.70 21.80 15.80 23.10
Interest Cost - Post-Retirement 0.10 0.10 0.10 0.30
Service Cost - Post-Retirement 0.00 0.00 0.00 0.00
Prior Service Cost - Post-Retirement -3.30 -3.30 -3.20 -3.30
Actuarial Gains and Losses - Post-Retirement 1.40 1.50 1.70 2.20
Curtailments & Settlements - Post-Retirement -- -- -- --
Post-Retirement Plan Expense -1.80 -1.70 -1.40 -0.80
Defined Contribution Expense - Domestic 21.80 20.20 20.00 20.20
Total Pension Expense 52.10 56.90 88.50 58.40
Discount Rate - Domestic 3.72 4.18 4.55 4.00
Discount Rate - Foreign 2.25 2.12 2.95 2.54
Discount Rate - Post-Retirement 3.55 3.95 4.13 3.50
Expected Rate of Return - Domestic 7.00 7.00 7.25 7.50
Expected Rate of Return - Foreign 7.00 7.25 4.14 4.27
Compensation Rate - Domestic -- -- -- --
Compensation Rate - Foreign 2.26 2.27 2.24 2.22
Total Plan Interest Cost 50.30 49.70 50.90 63.40
Total Plan Service Cost 19.20 18.70 14.70 14.20
Total Plan Expected Return -66.30 -61.60 -64.10 -73.00
Total Plan Other Expense 0.00 0.00 41.40 0.00

In millions of USD (except for per share items)

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