Financial Fundamentals

Income Statement

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update)
Net Sales 5,190.10 4,895.80 4,357.70 4,145.90 3,776.20
Revenue 5,190.10 4,895.80 4,357.70 4,145.90 3,776.20
Total Revenue 5,190.10 4,895.80 4,357.70 4,145.90 3,776.20
Cost of Revenue 2,926.60 2,681.60 2,373.70 2,305.10 2,046.60
Cost of Revenue, Total 2,926.60 2,681.60 2,373.70 2,305.10 2,046.60
Gross Profit 2,263.50 2,214.20 1,984.00 1,840.80 1,729.60
Selling/General/Administrative Expense 947.60 1,063.90 1,023.00 937.10 980.60
Labor & Related Expense 22.30 21.00 19.60 22.30 16.30
Selling/General/Administrative Expenses, Total 969.90 1,084.90 1,042.60 959.40 996.90
Research & Development 105.20 102.60 93.60 89.70 --
Investment Income - Operating -- -- -- -- --
Interest/Investment Income - Operating -- -- -- -- --
Interest Expense (Income), Net-Operating, Total -- -- -- -- --
Impairment-Assets Held for Use 11.30 -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -3.00 -- -- --
Other Unusual Expense (Income) 98.00 -- 7.60 -- --
Unusual Expense (Income) 109.30 -3.00 7.60 -- --
Total Operating Expense 4,111.00 3,866.10 3,517.50 3,354.20 3,043.50
Operating Income 1,079.10 1,029.70 840.20 791.70 732.70
Interest Expense - Non-Operating -54.50 -61.00 -73.60 -79.40 -52.60
Interest Expense, Net Non-Operating -54.50 -61.00 -73.60 -79.40 -52.60
Investment Income, Non-Operating 9.40 7.20 8.20 11.10 12.90
Interest/Investment Income, Non-Operating 9.40 7.20 8.20 11.10 12.90
Interest Income (Expense), Net-Non-Operating, Total -45.10 -53.80 -65.40 -68.30 -39.70
Other Non-Operating Income (Expense) -2.30 -2.10 -1.10 -3.90 -0.30
Other, Net -2.30 -2.10 -1.10 -3.90 -0.30
Net Income Before Taxes 1,031.70 973.80 773.70 719.50 692.70
Income Tax – Total 204.20 187.90 157.80 150.90 222.20
Income After Tax 827.50 785.90 615.90 568.60 470.50
Net Income Before Extraordinary Items 827.50 785.90 615.90 568.60 470.50
Extraordinary Item -- -- -- 0.00 272.90
Total Extraordinary Items -- -- -- 0.00 272.90
Net Income 827.50 785.90 615.90 568.60 743.40
Income Available to Common Excluding Extraordinary Items 827.50 785.90 615.90 568.60 470.50
Income Available to Common Stocks Including Extraordinary Items 827.50 785.90 615.90 568.60 743.40
Basic Weighted Average Shares 244.90 246.80 246.20 245.50 250.60
Basic EPS Excluding Extraordinary Items 3.38 3.18 2.50 2.32 1.88
Basic EPS Including Extraordinary Items 3.38 3.18 2.50 2.32 2.97
Dilution Adjustment -- -- -- -- --
Diluted Net Income 827.50 785.90 615.90 568.60 743.40
Diluted Weighted Average Shares 249.60 252.20 252.10 250.70 256.10
Diluted EPS Excluding Extraordinary Items 3.32 3.12 2.44 2.27 1.84
Diluted EPS Including Extraordinary Items 3.32 3.12 2.44 2.27 2.90
DPS - Common Stock Primary Issue 1.01 0.96 0.91 0.87 0.76
Gross Dividends - Common Stock 247.50 237.30 224.10 213.30 190.40
Total Special Items 109.30 -3.00 7.60 -- --
Normalized Income Before Taxes 1,141.00 970.80 781.30 719.50 692.70
Effect of Special Items on Income Taxes 21.63 -0.58 1.55 -- --
Income Taxes Excluding Impact of Special Items 225.83 187.32 159.35 150.90 222.20
Normalized Income After Taxes 915.17 783.48 621.95 568.60 470.50
Normalized Income Available to Common 915.17 783.48 621.95 568.60 470.50
Basic Normalized EPS 3.74 3.17 2.53 2.32 1.88
Diluted Normalized EPS 3.67 3.11 2.47 2.27 1.84
Amortization of Intangibles, Supplemental 150.70 123.50 112.60 76.70 64.50
Depreciation, Supplemental 68.40 66.20 63.80 64.40 60.90
Interest Expense, Supplemental 54.50 61.00 73.60 79.40 52.60
Interest Capitalized, Supplemental -- -- -- -- -0.20
Rental Expense, Supplemental 32.70 27.70 24.50 24.50 24.50
Stock-Based Compensation, Supplemental 25.60 24.60 20.80 23.30 18.10
Equity in Affiliates, Supplemental 9.40 6.70 6.60 9.20 10.80
Research & Development Expense, Supplemental 105.20 102.60 93.60 89.70 70.80
Audit-Related Fees, Supplemental 3.59 3.57 3.53 3.23 3.19
Audit-Related Fees 0.20 0.33 0.59 0.21 0.61
Tax Fees, Supplemental 0.37 0.56 0.55 0.45 0.54
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 0.00 0.00
Gross Margin 43.61 45.23 45.53 44.40 45.80
Operating Margin 20.79 21.03 19.28 19.10 19.40
Pretax Margin 19.88 19.89 17.75 17.35 18.34
Effective Tax Rate 19.79 19.30 20.40 20.97 32.08
Net Profit Margin 15.94 16.05 14.13 13.71 12.46
Normalized EBIT 1,188.40 1,026.70 847.80 791.70 732.70
Normalized EBITDA 1,407.50 1,216.40 1,024.20 932.80 858.10
Current Tax - Domestic 130.60 114.20 117.20 103.40 419.60
Current Tax - Foreign 19.20 15.90 10.10 13.00 11.20
Current Tax - Local 34.10 32.10 24.90 23.40 29.00
Current Tax - Total 183.90 162.20 152.20 139.80 459.80
Deferred Tax - Domestic 16.50 22.90 3.60 5.40 -235.00
Deferred Tax - Foreign -0.70 -1.40 2.50 1.10 -6.40
Deferred Tax - Local 4.50 4.20 -0.50 4.60 3.80
Deferred Tax - Total 20.30 25.70 5.60 11.10 -237.60
Income Tax - Total 204.20 187.90 157.80 150.90 222.20
Interest Cost - Domestic -- -- -- -- --
Service Cost - Domestic -- -- -- -- --
Prior Service Cost - Domestic -- -- -- -- --
Expected Return on Assets - Domestic -- -- -- -- --
Actuarial Gains and Losses - Domestic -- -- -- -- --
Curtailments & Settlements - Domestic -- -- -- -- --
Domestic Pension Plan Expense -- -- -- -- --
Interest Cost - Post-Retirement -- -- -- -- --
Service Cost - Post-Retirement -- -- -- -- --
Prior Service Cost - Post-Retirement -- -- -- -- --
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -- -- -- -- --
Post-Retirement Plan Expense -- -- -- -- --
Defined Contribution Expense - Domestic -- -- -- -- --
Total Pension Expense -- -- -- -- --
Discount Rate - Domestic -- -- -- -- --
Discount Rate - Post-Retirement -- -- -- -- --
Expected Rate of Return - Domestic -- -- -- -- --
Compensation Rate - Domestic -- -- -- -- --
Total Plan Interest Cost -- -- -- -- --
Total Plan Service Cost -- -- -- -- --
Total Plan Expected Return -- -- -- -- --

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