Financial Fundamentals

Income Statement

  Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update) Year Ending Dec 2012 (Update)
Net Sales 3.49M 3.39M 3.30M 3.19M 2.92M
Revenue 3.49M 3.39M 3.30M 3.19M 2.92M
Total Revenue 3.49M 3.39M 3.30M 3.19M 2.92M
Cost of Revenue 1.90M 1.88M 1.84M 1.76M 1.63M
Cost of Revenue, Total 1.90M 1.88M 1.84M 1.76M 1.63M
Gross Profit 1.59M 1.51M 1.45M 1.44M 1.29M
Selling/General/Administrative Expense 852.30 835.50 807.00 815.80 746.30
Labor & Related Expense 14.10 -- -- -- --
Selling/General/Administrative Expenses, Total 866.40 835.50 807.00 815.80 746.30
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 -- -- -- -- --
Impairment-Assets Held for Use -- -- -- -- --
Other Unusual Expense (Income) -- -- -- -- --
Unusual Expense (Income) -- -- -- -- --
Total Operating Expense 2.77M 2.72M 2.66M 2.57M 2.38M
Operating Income 724.20 674.20 641.20 622.20 545.10
Interest Expense - Non-Operating -27.70 -30.50 -27.40 -27.70 -14.00
Interest Expense, Net Non-Operating -27.70 -30.50 -27.40 -27.70 -14.00
Investment Income, Non-Operating 10.90 -0.90 13.90 5.40 10.60
Interest/Investment Income, Non-Operating 10.90 -0.90 13.90 5.40 10.60
Interest Income (Expense), Net-Non-Operating, Total -16.80 -31.40 -13.50 -22.30 -3.40
Other Non-Operating Income (Expense) -1.50 -7.40 -2.80 -2.10 0.80
Other, Net -1.50 -7.40 -2.80 -2.10 0.80
Net Income Before Taxes 705.90 635.40 624.90 597.80 542.50
Income Tax – Total 246.90 225.00 211.00 203.40 192.70
Income After Tax 459.00 410.40 413.90 394.40 349.80
Minority Interest -- -- -- -- --
Net Income Before Extraordinary Items 459.00 410.40 413.90 394.40 349.80
Net Income 459.00 410.40 413.90 394.40 349.80
Income Available to Common Excluding Extraordinary Items 459.00 410.40 413.90 394.40 349.80
Income Available to Common Stocks Including Extraordinary Items 459.00 410.40 413.90 394.40 349.80
Basic Weighted Average Shares 257.60 262.20 270.20 277.20 280.20
Basic EPS Excluding Extraordinary Items 1.78 1.57 1.53 1.42 1.25
Basic EPS Including Extraordinary Items 1.78 1.57 1.53 1.42 1.25
Dilution Adjustment -- -- -- -- --
Diluted Net Income 459.00 410.40 413.90 394.40 349.80
Diluted Weighted Average Shares 262.10 267.20 275.00 282.40 285.40
Diluted EPS Excluding Extraordinary Items 1.75 1.54 1.51 1.40 1.23
Diluted EPS Including Extraordinary Items 1.75 1.54 1.51 1.40 1.23
DPS - Common Stock Primary Issue 0.71 0.67 0.62 0.56 0.48
Gross Dividends - Common Stock 183.00 175.30 167.50 155.20 134.50
Stock-Based Compensation, Supplemental 16.00 16.10 -- -- --
Interest Expense, Supplemental 27.70 30.50 27.40 27.70 14.00
Interest Capitalized, Supplemental -0.30 -0.60 -0.70 -0.40 --
Depreciation, Supplemental 59.70 58.30 57.10 59.70 56.00
(Gain) Loss on Sale of Assets, Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items -- -- -- -- --
Normalized Income Before Taxes 705.90 635.40 624.90 597.80 542.50
Effect of Special Items on Income Taxes -- -- -- -- --
Income Taxes Excluding Impact of Special Items 246.90 225.00 211.00 203.40 192.70
Normalized Income After Taxes 459.00 410.40 413.90 394.40 349.80
Normalized Income Available to Common 459.00 410.40 413.90 394.40 349.80
Basic Normalized EPS 1.78 1.57 1.53 1.42 1.25
Diluted Normalized EPS 1.75 1.54 1.51 1.40 1.23
Amortization of Intangibles, Supplemental 47.90 42.70 34.10 30.80 29.00
Rental Expense, Supplemental 18.80 18.50 19.70 20.90 --
Equity in Affiliates, Supplemental 9.20 -5.80 11.60 2.80 8.90
Minority Interest, Supplemental -- -- -- -- --
Research & Development Expense, Supplemental 63.20 64.70 59.80 61.80 54.80
Audit-Related Fees, Supplemental 2.92 3.07 2.84 2.91 2.77
Audit-Related Fees 0.64 0.59 0.55 0.05 0.21
Tax Fees, Supplemental 0.37 0.47 0.36 0.44 0.56
All Other Fees Paid to Auditor, Supplemental -- -- -- -- --
Gross Margin 45.54 44.53 44.06 45.02 44.20
Operating Margin 20.73 19.86 19.44 19.48 18.66
Pretax Margin 20.21 18.72 18.95 18.71 18.57
Effective Tax Rate 34.98 35.41 33.77 34.02 35.52
Net Profit Margin 13.14 12.09 12.55 12.35 11.97
Normalized EBIT 724.20 676.30 645.90 622.20 545.10
Normalized EBITDA 831.80 777.30 737.10 712.70 630.10
Current Tax - Domestic 183.40 161.40 159.00 151.70 132.00
Current Tax - Foreign 11.40 14.10 14.90 15.90 19.80
Current Tax - Local 27.20 25.50 24.40 24.70 27.70
Current Tax - Total 222.00 201.00 198.30 192.30 179.50
Deferred Tax - Domestic 19.20 22.80 11.50 12.60 11.40
Deferred Tax - Foreign 1.60 -2.10 0.10 0.20 0.20
Deferred Tax - Local 4.10 3.30 1.10 -1.70 1.60
Deferred Tax - Total 24.90 24.00 12.70 11.10 13.20
Income Tax - Total 246.90 225.00 211.00 203.40 192.70
Interest Cost - Domestic -- 2.90 4.20 4.00 4.20
Service Cost - Domestic -- 0.30 0.90 1.10 0.90
Prior Service Cost - Domestic -- -- -- -- --
Expected Return on Assets - Domestic -- -4.80 -6.10 -4.20 -3.90
Actuarial Gains and Losses - Domestic -- 0.20 0.40 -- 0.20
Curtailments & Settlements - Domestic -- 9.60 0.30 -0.90 --
Transition Costs - Domestic -- -- -- -- --
Other Pension, Net - Domestic -- -- -- -- --
Domestic Pension Plan Expense -- 8.20 -0.30 -- 1.40
Interest Cost - Post-Retirement -- 0.90 1.00 1.10 1.20
Service Cost - Post-Retirement -- 0.20 0.20 0.40 0.40
Prior Service Cost - Post-Retirement -- -0.70 -1.40 -0.80 -0.10
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -- 0.10 -- -- 0.20
Other Post-Retirement, Net -- -- -- -- --
Post-Retirement Plan Expense -- 0.50 -0.20 0.70 1.70
Defined Contribution Expense - Domestic -- -- -- -- 19.90
Total Pension Expense -- 8.70 -0.50 0.70 23.00
Discount Rate - Domestic -- 3.47 4.28 4.15 4.75
Discount Rate - Post-Retirement -- 3.76 4.54 3.92 4.31
Expected Rate of Return - Domestic -- 5.53 6.16 5.45 5.35
Compensation Rate - Domestic -- 3.53 3.13 3.33 3.33
Total Plan Interest Cost -- 3.80 5.20 5.10 5.40
Total Plan Service Cost -- 0.50 1.10 1.50 1.30
Total Plan Expected Return -- -4.80 -6.10 -4.20 -3.90
Total Plan Other Expense -- -- -- -- --

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