Fundamentals
Financial Fundamentals
Income Statement
| Year Ending Dec 2018 (Update) | Year Ending Dec 2017 (Update) | Year Ending Dec 2016 (Update) | Year Ending Dec 2015 (Update) | Year Ending Dec 2014 (Update) | |
|---|---|---|---|---|---|
| Net Sales | 4,145.90 | 3,776.20 | 3,493.10 | 3,394.80 | 3,297.60 |
| Revenue | 4,145.90 | 3,776.20 | 3,493.10 | 3,394.80 | 3,297.60 |
| Total Revenue | 4,145.90 | 3,776.20 | 3,493.10 | 3,394.80 | 3,297.60 |
| Cost of Revenue | 2,305.10 | 2,046.60 | 1,902.50 | 1,883.00 | 1,844.70 |
| Cost of Revenue, Total | 2,305.10 | 2,046.60 | 1,902.50 | 1,883.00 | 1,844.70 |
| Gross Profit | 1,840.80 | 1,729.60 | 1,590.60 | 1,511.80 | 1,452.90 |
| Selling/General/Administrative Expense | 937.10 | 980.60 | 852.30 | 835.50 | 807.00 |
| Labor & Related Expense | 22.30 | 16.30 | 14.10 | -- | -- |
| Selling/General/Administrative Expenses, Total | 959.40 | 996.90 | 866.40 | 835.50 | 807.00 |
| Research & Development | 89.70 | -- | -- | -- | -- |
| Investment Income - Operating | -- | -- | -- | 2.10 | 4.70 |
| Interest/Investment Income - Operating | -- | -- | -- | 2.10 | 4.70 |
| Interest Expense (Income), Net-Operating, Total | -- | -- | -- | 2.10 | 4.70 |
| Litigation | -- | -- | -- | -- | -- |
| Unusual Expense (Income) | -- | -- | -- | -- | -- |
| Total Operating Expense | 3,354.20 | 3,043.50 | 2,768.90 | 2,720.60 | 2,656.40 |
| Operating Income | 791.70 | 732.70 | 724.20 | 674.20 | 641.20 |
| Interest Expense - Non-Operating | -79.40 | -52.60 | -27.70 | -30.50 | -27.40 |
| Interest Expense, Net Non-Operating | -79.40 | -52.60 | -27.70 | -30.50 | -27.40 |
| Investment Income, Non-Operating | 11.10 | 12.90 | 10.90 | -0.90 | 13.90 |
| Interest/Investment Income, Non-Operating | 11.10 | 12.90 | 10.90 | -0.90 | 13.90 |
| Interest Income (Expense), Net-Non-Operating, Total | -68.30 | -39.70 | -16.80 | -31.40 | -13.50 |
| Other Non-Operating Income (Expense) | -3.90 | -0.30 | -1.50 | -7.40 | -2.80 |
| Other, Net | -3.90 | -0.30 | -1.50 | -7.40 | -2.80 |
| Net Income Before Taxes | 719.50 | 692.70 | 705.90 | 635.40 | 624.90 |
| Income Tax – Total | 150.90 | 222.20 | 246.90 | 225.00 | 211.00 |
| Income After Tax | 568.60 | 470.50 | 459.00 | 410.40 | 413.90 |
| Minority Interest | -- | -- | -- | -- | -- |
| Net Income Before Extraordinary Items | 568.60 | 470.50 | 459.00 | 410.40 | 413.90 |
| Extraordinary Item | 0.00 | 272.90 | -- | -- | -- |
| Total Extraordinary Items | 0.00 | 272.90 | -- | -- | -- |
| Net Income | 568.60 | 743.40 | 459.00 | 410.40 | 413.90 |
| Income Available to Common Excluding Extraordinary Items | 568.60 | 470.50 | 459.00 | 410.40 | 413.90 |
| Income Available to Common Stocks Including Extraordinary Items | 568.60 | 743.40 | 459.00 | 410.40 | 413.90 |
| Basic Weighted Average Shares | 245.50 | 250.60 | 257.60 | 262.20 | 270.20 |
| Basic EPS Excluding Extraordinary Items | 2.32 | 1.88 | 1.78 | 1.57 | 1.53 |
| Basic EPS Including Extraordinary Items | 2.32 | 2.97 | 1.78 | 1.57 | 1.53 |
| Dilution Adjustment | -- | -- | -- | -- | -- |
| Diluted Net Income | 568.60 | 743.40 | 459.00 | 410.40 | 413.90 |
| Diluted Weighted Average Shares | 250.70 | 256.10 | 262.10 | 267.20 | 275.00 |
| Diluted EPS Excluding Extraordinary Items | 2.27 | 1.84 | 1.75 | 1.54 | 1.51 |
| Diluted EPS Including Extraordinary Items | 2.27 | 2.90 | 1.75 | 1.54 | 1.51 |
| DPS - Common Stock Primary Issue | 0.87 | 0.76 | 0.71 | 0.67 | 0.62 |
| Gross Dividends - Common Stock | 213.30 | 190.40 | 183.00 | 175.30 | 167.50 |
| (Gain) Loss on Sale of Assets, Supplemental | -- | -- | -- | -- | -- |
| Non-Recurring Items, Total | -- | -- | -- | -- | -- |
| Total Special Items | -- | -- | -- | -- | -- |
| Normalized Income Before Taxes | 719.50 | 692.70 | 705.90 | 635.40 | 624.90 |
| Effect of Special Items on Income Taxes | -- | -- | -- | -- | -- |
| Income Taxes Excluding Impact of Special Items | 150.90 | 222.20 | 246.90 | 225.00 | 211.00 |
| Normalized Income After Taxes | 568.60 | 470.50 | 459.00 | 410.40 | 413.90 |
| Normalized Income Available to Common | 568.60 | 470.50 | 459.00 | 410.40 | 413.90 |
| Basic Normalized EPS | 2.32 | 1.88 | 1.78 | 1.57 | 1.53 |
| Diluted Normalized EPS | 2.27 | 1.84 | 1.75 | 1.54 | 1.51 |
| Amortization of Intangibles, Supplemental | 76.70 | 64.50 | 47.90 | 42.70 | 34.10 |
| Depreciation, Supplemental | 64.40 | 60.90 | 59.70 | 58.30 | 57.10 |
| Interest Expense, Supplemental | 79.40 | 52.60 | 27.70 | 30.50 | 27.40 |
| Interest Capitalized, Supplemental | -- | -0.20 | -0.30 | -0.60 | -0.70 |
| Rental Expense, Supplemental | 24.50 | 24.50 | 18.80 | 18.50 | 19.70 |
| Stock-Based Compensation, Supplemental | 23.30 | 18.10 | 16.00 | 16.10 | -- |
| Equity in Affiliates, Supplemental | 9.20 | 10.80 | 9.20 | -5.80 | 11.60 |
| Minority Interest, Supplemental | -- | -- | -- | -- | -- |
| Research & Development Expense, Supplemental | 89.70 | 70.80 | 63.20 | 64.70 | 59.80 |
| Audit-Related Fees, Supplemental | 3.23 | 3.19 | 2.92 | 3.07 | 2.84 |
| Audit-Related Fees | 0.21 | 0.61 | 0.64 | 0.59 | 0.55 |
| Tax Fees, Supplemental | 0.45 | 0.54 | 0.37 | 0.47 | 0.36 |
| All Other Fees Paid to Auditor, Supplemental | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Gross Margin | 44.40 | 45.80 | 45.54 | 44.53 | 44.06 |
| Operating Margin | 19.10 | 19.40 | 20.73 | 19.86 | 19.44 |
| Pretax Margin | 17.35 | 18.34 | 20.21 | 18.72 | 18.95 |
| Effective Tax Rate | 20.97 | 32.08 | 34.98 | 35.41 | 33.77 |
| Net Profit Margin | 13.71 | 12.46 | 13.14 | 12.09 | 12.55 |
| Normalized EBIT | 791.70 | 732.70 | 724.20 | 676.30 | 645.90 |
| Normalized EBITDA | 932.80 | 858.10 | 831.80 | 777.30 | 737.10 |
| Current Tax - Domestic | 103.40 | 419.60 | 183.40 | 161.40 | 159.00 |
| Current Tax - Foreign | 13.00 | 11.20 | 11.40 | 14.10 | 14.90 |
| Current Tax - Local | 23.40 | 29.00 | 27.20 | 25.50 | 24.40 |
| Current Tax - Total | 139.80 | 459.80 | 222.00 | 201.00 | 198.30 |
| Deferred Tax - Domestic | 5.40 | -235.00 | 19.20 | 22.80 | 11.50 |
| Deferred Tax - Foreign | 1.10 | -6.40 | 1.60 | -2.10 | 0.10 |
| Deferred Tax - Local | 4.60 | 3.80 | 4.10 | 3.30 | 1.10 |
| Deferred Tax - Total | 11.10 | -237.60 | 24.90 | 24.00 | 12.70 |
| Income Tax - Total | 150.90 | 222.20 | 246.90 | 225.00 | 211.00 |
| Interest Cost - Domestic | -- | -- | -- | 2.90 | 4.20 |
| Service Cost - Domestic | -- | -- | -- | 0.30 | 0.90 |
| Prior Service Cost - Domestic | -- | -- | -- | 0.00 | 0.00 |
| Expected Return on Assets - Domestic | -- | -- | -- | -4.80 | -6.10 |
| Actuarial Gains and Losses - Domestic | -- | -- | -- | 0.20 | 0.40 |
| Curtailments & Settlements - Domestic | -- | -- | -- | 9.60 | 0.30 |
| Transition Costs - Domestic | -- | -- | -- | -- | -- |
| Other Pension, Net - Domestic | -- | -- | -- | -- | -- |
| Domestic Pension Plan Expense | -- | -- | -- | 8.20 | -0.30 |
| Interest Cost - Post-Retirement | -- | -- | -- | 0.90 | 1.00 |
| Service Cost - Post-Retirement | -- | -- | -- | 0.20 | 0.20 |
| Prior Service Cost - Post-Retirement | -- | -- | -- | -0.70 | -1.40 |
| Expected Return on Assets - Post-Retirement | -- | -- | -- | 0.00 | 0.00 |
| Actuarial Gains and Losses - Post-Retirement | -- | -- | -- | 0.10 | 0.00 |
| Other Post-Retirement, Net | -- | -- | -- | -- | -- |
| Post-Retirement Plan Expense | -- | -- | -- | 0.50 | -0.20 |
| Defined Contribution Expense - Domestic | -- | -- | -- | -- | -- |
| Total Pension Expense | -- | -- | -- | 8.70 | -0.50 |
| Discount Rate - Domestic | -- | -- | -- | 3.47 | 4.28 |
| Discount Rate - Post-Retirement | -- | -- | -- | 3.76 | 4.54 |
| Expected Rate of Return - Domestic | -- | -- | -- | 5.53 | 6.16 |
| Compensation Rate - Domestic | -- | -- | -- | 3.53 | 3.13 |
| Total Plan Interest Cost | -- | -- | -- | 3.80 | 5.20 |
| Total Plan Service Cost | -- | -- | -- | 0.50 | 1.10 |
| Total Plan Expected Return | -- | -- | -- | -4.80 | -6.10 |
| Total Plan Other Expense | -- | -- | -- | -- | -- |
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