Financial Fundamentals

Income Statement

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update)
Net Sales 3,776.20 3,493.10 3,394.80 3,297.60 3,194.30
Revenue 3,776.20 3,493.10 3,394.80 3,297.60 3,194.30
Total Revenue 3,776.20 3,493.10 3,394.80 3,297.60 3,194.30
Cost of Revenue 2,046.60 1,902.50 1,883.00 1,844.70 1,756.30
Cost of Revenue, Total 2,046.60 1,902.50 1,883.00 1,844.70 1,756.30
Gross Profit 1,729.60 1,590.60 1,511.80 1,452.90 1,438.00
Selling/General/Administrative Expense 980.60 852.30 835.50 807.00 815.80
Labor & Related Expense 16.30 14.10 -- -- --
Selling/General/Administrative Expenses, Total 996.90 866.40 835.50 807.00 815.80
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 -- -- -- -- --
Unusual Expense (Income) -- -- -- -- --
Total Operating Expense 3,043.50 2,768.90 2,720.60 2,656.40 2,572.10
Operating Income 732.70 724.20 674.20 641.20 622.20
Interest Expense - Non-Operating -52.60 -27.70 -30.50 -27.40 -27.70
Interest Expense, Net Non-Operating -52.60 -27.70 -30.50 -27.40 -27.70
Investment Income, Non-Operating 12.90 10.90 -0.90 13.90 5.40
Interest/Investment Income, Non-Operating 12.90 10.90 -0.90 13.90 5.40
Interest Income (Expense), Net-Non-Operating, Total -39.70 -16.80 -31.40 -13.50 -22.30
Other Non-Operating Income (Expense) -0.30 -1.50 -7.40 -2.80 -2.10
Other, Net -0.30 -1.50 -7.40 -2.80 -2.10
Net Income Before Taxes 692.70 705.90 635.40 624.90 597.80
Income Tax – Total 222.20 246.90 225.00 211.00 203.40
Income After Tax 470.50 459.00 410.40 413.90 394.40
Minority Interest -- -- -- -- --
Net Income Before Extraordinary Items 470.50 459.00 410.40 413.90 394.40
Extraordinary Item 272.90 -- -- -- --
Total Extraordinary Items 272.90 -- -- -- --
Net Income 743.40 459.00 410.40 413.90 394.40
Income Available to Common Excluding Extraordinary Items 470.50 459.00 410.40 413.90 394.40
Income Available to Common Stocks Including Extraordinary Items 743.40 459.00 410.40 413.90 394.40
Basic Weighted Average Shares 250.60 257.60 262.20 270.20 277.20
Basic EPS Excluding Extraordinary Items 1.88 1.78 1.57 1.53 1.42
Basic EPS Including Extraordinary Items 2.97 1.78 1.57 1.53 1.42
Dilution Adjustment -- -- -- -- 0.00
Diluted Net Income 743.40 459.00 410.40 413.90 394.40
Diluted Weighted Average Shares 256.10 262.10 267.20 275.00 282.40
Diluted EPS Excluding Extraordinary Items 1.84 1.75 1.54 1.51 1.40
Diluted EPS Including Extraordinary Items 2.90 1.75 1.54 1.51 1.40
DPS - Common Stock Primary Issue 0.76 0.71 0.67 0.62 0.56
Gross Dividends - Common Stock 190.40 183.00 175.30 167.50 155.20
(Gain) Loss on Sale of Assets, Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items -- -- -- -- --
Normalized Income Before Taxes 692.70 705.90 635.40 624.90 597.80
Effect of Special Items on Income Taxes -- -- -- -- --
Income Taxes Excluding Impact of Special Items 222.20 246.90 225.00 211.00 203.40
Normalized Income After Taxes 470.50 459.00 410.40 413.90 394.40
Normalized Income Available to Common 470.50 459.00 410.40 413.90 394.40
Basic Normalized EPS 1.88 1.78 1.57 1.53 1.42
Diluted Normalized EPS 1.84 1.75 1.54 1.51 1.40
Amortization of Intangibles, Supplemental 64.50 47.90 42.70 34.10 30.80
Depreciation, Supplemental 60.90 59.70 58.30 57.10 59.70
Interest Expense, Supplemental 52.60 27.70 30.50 27.40 27.70
Interest Capitalized, Supplemental -0.20 -0.30 -0.60 -0.70 -0.40
Rental Expense, Supplemental 24.50 18.80 18.50 19.70 20.90
Stock-Based Compensation, Supplemental 18.10 16.00 16.10 -- --
Equity in Affiliates, Supplemental 10.80 9.20 -5.80 11.60 2.80
Minority Interest, Supplemental -- -- -- -- --
Research & Development Expense, Supplemental 70.80 63.20 64.70 59.80 61.80
Audit-Related Fees, Supplemental 3.19 2.92 3.07 2.84 2.91
Audit-Related Fees 0.61 0.64 0.59 0.55 0.05
Tax Fees, Supplemental 0.54 0.37 0.47 0.36 0.44
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 -- 0.00
Gross Margin 45.80 45.54 44.53 44.06 45.02
Operating Margin 19.40 20.73 19.86 19.44 19.48
Pretax Margin 18.34 20.21 18.72 18.95 18.71
Effective Tax Rate 32.08 34.98 35.41 33.77 34.02
Net Profit Margin 12.46 13.14 12.09 12.55 12.35
Normalized EBIT 732.70 724.20 676.30 645.90 622.20
Normalized EBITDA 858.10 831.80 777.30 737.10 712.70
Current Tax - Domestic 419.60 183.40 161.40 159.00 151.70
Current Tax - Foreign 11.20 11.40 14.10 14.90 15.90
Current Tax - Local 29.00 27.20 25.50 24.40 24.70
Current Tax - Total 459.80 222.00 201.00 198.30 192.30
Deferred Tax - Domestic -235.00 19.20 22.80 11.50 12.60
Deferred Tax - Foreign -6.40 1.60 -2.10 0.10 0.20
Deferred Tax - Local 3.80 4.10 3.30 1.10 -1.70
Deferred Tax - Total -237.60 24.90 24.00 12.70 11.10
Income Tax - Total 222.20 246.90 225.00 211.00 203.40
Interest Cost - Domestic -- -- 2.90 4.20 4.00
Service Cost - Domestic -- -- 0.30 0.90 1.10
Prior Service Cost - Domestic -- -- 0.00 0.00 0.00
Expected Return on Assets - Domestic -- -- -4.80 -6.10 -4.20
Actuarial Gains and Losses - Domestic -- -- 0.20 0.40 --
Curtailments & Settlements - Domestic -- -- 9.60 0.30 -0.90
Transition Costs - Domestic -- -- -- -- --
Other Pension, Net - Domestic -- -- -- -- --
Domestic Pension Plan Expense -- -- 8.20 -0.30 0.00
Interest Cost - Post-Retirement -- -- 0.90 1.00 1.10
Service Cost - Post-Retirement -- -- 0.20 0.20 0.40
Prior Service Cost - Post-Retirement -- -- -0.70 -1.40 -0.80
Expected Return on Assets - Post-Retirement -- -- 0.00 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 0.70
Defined Contribution Expense - Domestic -- -- -- -- --
Total Pension Expense -- -- 8.70 -0.50 0.70
Discount Rate - Domestic -- -- 3.47 4.28 4.15
Discount Rate - Post-Retirement -- -- 3.76 4.54 3.92
Expected Rate of Return - Domestic -- -- 5.53 6.16 5.45
Compensation Rate - Domestic -- -- 3.53 3.13 3.33
Total Plan Interest Cost -- -- 3.80 5.20 5.10
Total Plan Service Cost -- -- 0.50 1.10 1.50
Total Plan Expected Return -- -- -4.80 -6.10 -4.20
Total Plan Other Expense -- -- -- -- --

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