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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