Income Statement
| Year Ending Jan 2022 (Update) | Year Ending Jan 2021 (Update) | Year Ending Dec 2019 (Update) | Year Ending Dec 2018 (Update) | |
|---|---|---|---|---|
| Net Sales | 8,408.30 | 6,971.50 | 7,070.10 | 7,159.00 |
| Revenue | 8,408.30 | 6,971.50 | 7,070.10 | 7,159.00 |
| Total Revenue | 8,408.30 | 6,971.50 | 7,070.10 | 7,159.00 |
| Cost of Revenue | 6,095.50 | 5,048.20 | 5,166.00 | 5,243.50 |
| Cost of Revenue, Total | 6,095.50 | 5,048.20 | 5,166.00 | 5,243.50 |
| Gross Profit | 2,312.80 | 1,923.30 | 1,904.10 | 1,915.50 |
| Selling/General/Administrative Expense | 1,111.90 | 947.70 | 949.80 | 1,022.00 |
| Labor & Related Expense | -- | -- | 34.50 | 34.30 |
| Advertising Expense | -- | -- | -- | -- |
| Selling/General/Administrative Expenses, Total | 1,111.90 | 947.70 | 984.30 | 1,056.30 |
| Research & Development | 136.60 | 112.80 | 92.60 | 98.20 |
| Interest Expense - Operating | 70.20 | 70.00 | 75.80 | 58.50 |
| Interest Capitalized - Operating | -- | -- | -- | -- |
| Interest Expense, Net - Operating | 70.20 | 70.00 | 75.80 | 58.50 |
| Investment Income - Operating | -23.00 | -5.40 | 3.50 | -27.00 |
| Interest/Investment Income - Operating | -23.00 | -5.40 | 3.50 | -27.00 |
| Interest Expense (Income), Net-Operating, Total | 47.20 | 64.60 | 79.30 | 31.50 |
| Restructuring Charge | 10.50 | 49.10 | 45.30 | 63.50 |
| Litigation | -0.40 | 0.00 | 3.40 | -- |
| Impairment-Assets Held for Use | 3.10 | 6.20 | 5.10 | 10.70 |
| Loss (Gain) on Sale of Assets - Operating | 0.20 | -0.50 | -3.20 | -2.70 |
| Other Unusual Expense (Income) | 15.20 | 4.20 | 446.70 | -1.60 |
| Unusual Expense (Income) | 28.60 | 59.00 | 497.30 | 69.90 |
| Total Operating Expense | 7,419.80 | 6,232.30 | 6,819.50 | 6,499.40 |
| Operating Income | 988.50 | 739.20 | 250.60 | 659.60 |
| Other Non-Operating Income (Expense) | 4.10 | -1.90 | -1.10 | -104.80 |
| Other, Net | 4.10 | -1.90 | -1.10 | -104.80 |
| Net Income Before Taxes | 992.60 | 737.30 | 249.50 | 554.80 |
| Income Tax – Total | 248.60 | 177.70 | -56.70 | 81.80 |
| Income After Tax | 744.00 | 559.60 | 306.20 | 473.00 |
| Equity In Affiliates | -3.90 | -3.70 | -2.60 | -2.00 |
| Net Income Before Extraordinary Items | 740.10 | 555.90 | 303.60 | 471.00 |
| Discontinued Operations | -- | -- | -- | -- |
| Extraordinary Item | -- | -- | 0.00 | -3.60 |
| Total Extraordinary Items | -- | -- | 0.00 | -3.60 |
| Net Income | 740.10 | 555.90 | 303.60 | 467.40 |
| Income Available to Common Excluding Extraordinary Items | 740.10 | 555.90 | 303.60 | 471.00 |
| Income Available to Common Stocks Including Extraordinary Items | 740.10 | 555.90 | 303.60 | 467.40 |
| Basic Weighted Average Shares | 82.90 | 83.40 | 84.00 | 87.30 |
| Basic EPS Excluding Extraordinary Items | 8.93 | 6.67 | 3.61 | 5.40 |
| Basic EPS Including Extraordinary Items | 8.93 | 6.67 | 3.61 | 5.35 |
| Dilution Adjustment | -- | -- | -- | -- |
| Diluted Net Income | 740.10 | 555.90 | 303.60 | 467.40 |
| Diluted Weighted Average Shares | 83.80 | 84.10 | 85.00 | 88.60 |
| Diluted EPS Excluding Extraordinary Items | 8.83 | 6.61 | 3.57 | 5.32 |
| Diluted EPS Including Extraordinary Items | 8.83 | 6.61 | 3.57 | 5.28 |
| DPS - Common Stock Primary Issue | 2.66 | 2.36 | 2.26 | 2.01 |
| Gross Dividends - Common Stock | 220.60 | 196.80 | 189.70 | 175.00 |
| Total Special Items | 28.60 | 59.00 | 497.30 | 69.90 |
| Normalized Income Before Taxes | 1,021.20 | 796.30 | 746.80 | 624.70 |
| Effect of Special Items on Income Taxes | 7.16 | 14.22 | 174.06 | 10.31 |
| Income Taxes Excluding Impact of Special Items | 255.76 | 191.92 | 117.36 | 92.11 |
| Normalized Income After Taxes | 765.44 | 604.38 | 629.45 | 532.59 |
| Normalized Income Available to Common | 761.54 | 600.68 | 626.85 | 530.59 |
| Basic Normalized EPS | 9.19 | 7.20 | 7.46 | 6.08 |
| Diluted Normalized EPS | 9.09 | 7.14 | 7.37 | 5.99 |
| Amortization of Intangibles, Supplemental | 76.80 | 51.10 | 38.70 | 39.50 |
| Depreciation, Supplemental | 167.30 | 154.20 | 140.30 | 141.50 |
| Interest Expense, Supplemental | 70.20 | 70.00 | 75.80 | 58.50 |
| Interest Capitalized, Supplemental | -4.80 | -3.90 | -5.30 | -5.30 |
| Rental Expense, Supplemental | 68.80 | 63.10 | 65.40 | 66.00 |
| Stock-Based Compensation, Supplemental | 37.20 | 24.00 | 34.50 | 34.30 |
| Advertising Expense, Supplemental | -- | -- | -- | -- |
| Equity in Affiliates, Supplemental | -3.90 | -3.70 | -2.60 | -2.00 |
| Research & Development Expense, Supplemental | 136.60 | 112.80 | 92.60 | 98.20 |
| Audit-Related Fees, Supplemental | 8.69 | 8.46 | -- | 7.95 |
| Audit-Related Fees | 0.24 | 0.17 | -- | 0.50 |
| Tax Fees, Supplemental | 4.26 | 4.17 | -- | 4.10 |
| All Other Fees Paid to Auditor, Supplemental | 0.02 | 0.02 | -- | 0.04 |
| Gross Margin | 27.51 | 27.59 | 26.93 | 26.76 |
| Operating Margin | 11.76 | 10.60 | 3.54 | 9.21 |
| Pretax Margin | 11.81 | 10.58 | 3.53 | 7.75 |
| Effective Tax Rate | 25.05 | 24.10 | -22.73 | 14.74 |
| Net Profit Margin | 8.80 | 7.97 | 4.29 | 6.58 |
| Normalized EBIT | 1,064.30 | 862.80 | 827.20 | 761.00 |
| Normalized EBITDA | 1,308.40 | 1,068.10 | 1,006.20 | 942.00 |
| Current Tax - Domestic | 7.30 | 1.10 | 11.00 | -19.70 |
| Current Tax - Foreign | 229.90 | 168.50 | 148.10 | 134.30 |
| Current Tax - Local | 5.30 | 1.90 | 0.50 | 0.80 |
| Current Tax - Total | 242.50 | 171.50 | 159.60 | 115.40 |
| Deferred Tax - Domestic | -1.10 | 5.00 | -168.00 | -6.30 |
| Deferred Tax - Foreign | 12.50 | -0.40 | -39.40 | -26.00 |
| Deferred Tax - Local | -5.30 | 1.60 | -8.90 | 2.30 |
| Deferred Tax - Total | 6.10 | 6.20 | -216.30 | -30.00 |
| Other Tax | -- | -- | -- | -3.60 |
| Income Tax - Total | 248.60 | 177.70 | -56.70 | 81.80 |
| Interest Cost - Domestic | 1.00 | 1.80 | 2.70 | 34.50 |
| Service Cost - Domestic | -- | 0.00 | 0.00 | 0.00 |
| Prior Service Cost - Domestic | -- | 0.00 | 0.00 | 0.80 |
| Expected Return on Assets - Domestic | -- | 0.00 | 0.00 | -42.50 |
| Actuarial Gains and Losses - Domestic | -0.30 | 4.30 | 3.00 | 20.60 |
| Curtailments & Settlements - Domestic | 1.10 | 0.20 | 443.50 | -- |
| Other Pension, Net - Domestic | -- | -- | -- | 0.00 |
| Domestic Pension Plan Expense | 1.80 | 6.30 | 449.20 | 13.40 |
| Interest Cost - Foreign | 8.90 | 11.00 | 14.80 | 15.70 |
| Service Cost - Foreign | 19.00 | 17.80 | 15.60 | 19.20 |
| Prior Service Cost - Foreign | -0.40 | -0.40 | -0.40 | -0.50 |
| Expected Return on Assets - Foreign | -19.80 | -18.50 | -21.00 | -23.80 |
| Actuarial Gains and Losses - Foreign | 6.10 | 5.20 | 4.00 | 8.10 |
| Curtailments & Settlements - Foreign | 0.50 | 0.30 | 0.60 | 0.00 |
| Transition Costs - Foreign | -- | -- | -- | 0.00 |
| Foreign Pension Plan Expense | 14.30 | 15.40 | 13.60 | 18.70 |
| Interest Cost - Post-Retirement | -- | -- | -- | 0.10 |
| Service Cost - Post-Retirement | -- | -- | -- | 0.00 |
| Prior Service Cost - Post-Retirement | -- | -- | -- | -3.30 |
| Actuarial Gains and Losses - Post-Retirement | -- | -- | -- | 1.40 |
| Post-Retirement Plan Expense | -- | -- | -- | -1.80 |
| Defined Contribution Expense - Domestic | 24.60 | 22.70 | 22.40 | 21.80 |
| Total Pension Expense | 40.70 | 44.40 | 485.20 | 52.10 |
| Discount Rate - Domestic | 2.20 | 2.89 | 3.73 | 3.72 |
| Discount Rate - Foreign | 1.26 | 1.66 | 2.39 | 2.25 |
| Discount Rate - Post-Retirement | -- | -- | -- | 3.55 |
| Expected Rate of Return - Domestic | -- | 0.00 | 0.00 | 7.00 |
| Expected Rate of Return - Foreign | 2.61 | 2.79 | 3.38 | 7.00 |
| Compensation Rate - Domestic | -- | 0.00 | 0.00 | -- |
| Compensation Rate - Foreign | 2.15 | 2.21 | 2.23 | 2.26 |
| Total Plan Interest Cost | 9.90 | 12.80 | 17.50 | 50.30 |
| Total Plan Service Cost | 19.00 | 17.80 | 15.60 | 19.20 |
| Total Plan Expected Return | -19.80 | -18.50 | -21.00 | -66.30 |
| Total Plan Other Expense | -- | -- | -- | 0.00 |
In millions of USD (except for per share items)
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