Financial Fundamentals

Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 4,357.70 4,145.90 3,776.20 3,493.10 3,394.80
Revenue 4,357.70 4,145.90 3,776.20 3,493.10 3,394.80
Total Revenue 4,357.70 4,145.90 3,776.20 3,493.10 3,394.80
Cost of Revenue 2,373.70 2,305.10 2,046.60 1,902.50 1,883.00
Cost of Revenue, Total 2,373.70 2,305.10 2,046.60 1,902.50 1,883.00
Gross Profit 1,984.00 1,840.80 1,729.60 1,590.60 1,511.80
Selling/General/Administrative Expense 1,023.00 937.10 980.60 852.30 835.50
Labor & Related Expense 19.60 22.30 16.30 14.10 --
Selling/General/Administrative Expenses, Total 1,042.60 959.40 996.90 866.40 835.50
Research & Development 93.60 89.70 -- -- --
Investment Income - Operating -- -- -- -- 2.10
Interest/Investment Income - Operating -- -- -- -- 2.10
Interest Expense (Income), Net-Operating, Total -- -- -- -- 2.10
Litigation -- -- -- -- --
Other Unusual Expense (Income) 7.60 -- -- -- --
Unusual Expense (Income) 7.60 -- -- -- --
Total Operating Expense 3,517.50 3,354.20 3,043.50 2,768.90 2,720.60
Operating Income 840.20 791.70 732.70 724.20 674.20
Interest Expense - Non-Operating -73.60 -79.40 -52.60 -27.70 -30.50
Interest Expense, Net Non-Operating -73.60 -79.40 -52.60 -27.70 -30.50
Investment Income, Non-Operating 8.20 11.10 12.90 10.90 -0.90
Interest/Investment Income, Non-Operating 8.20 11.10 12.90 10.90 -0.90
Interest Income (Expense), Net-Non-Operating, Total -65.40 -68.30 -39.70 -16.80 -31.40
Other Non-Operating Income (Expense) -1.10 -3.90 -0.30 -1.50 -7.40
Other, Net -1.10 -3.90 -0.30 -1.50 -7.40
Net Income Before Taxes 773.70 719.50 692.70 705.90 635.40
Income Tax – Total 157.80 150.90 222.20 246.90 225.00
Income After Tax 615.90 568.60 470.50 459.00 410.40
Minority Interest -- -- -- -- --
Net Income Before Extraordinary Items 615.90 568.60 470.50 459.00 410.40
Extraordinary Item -- 0.00 272.90 -- --
Total Extraordinary Items -- 0.00 272.90 -- --
Net Income 615.90 568.60 743.40 459.00 410.40
Income Available to Common Excluding Extraordinary Items 615.90 568.60 470.50 459.00 410.40
Income Available to Common Stocks Including Extraordinary Items 615.90 568.60 743.40 459.00 410.40
Basic Weighted Average Shares 246.20 245.50 250.60 257.60 262.20
Basic EPS Excluding Extraordinary Items 2.50 2.32 1.88 1.78 1.57
Basic EPS Including Extraordinary Items 2.50 2.32 2.97 1.78 1.57
Dilution Adjustment -- -- -- -- --
Diluted Net Income 615.90 568.60 743.40 459.00 410.40
Diluted Weighted Average Shares 252.10 250.70 256.10 262.10 267.20
Diluted EPS Excluding Extraordinary Items 2.44 2.27 1.84 1.75 1.54
Diluted EPS Including Extraordinary Items 2.44 2.27 2.90 1.75 1.54
DPS - Common Stock Primary Issue 0.91 0.87 0.76 0.71 0.67
Gross Dividends - Common Stock 224.10 213.30 190.40 183.00 175.30
(Gain) Loss on Sale of Assets, Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 7.60 -- -- -- --
Normalized Income Before Taxes 781.30 719.50 692.70 705.90 635.40
Effect of Special Items on Income Taxes 1.55 -- -- -- --
Income Taxes Excluding Impact of Special Items 159.35 150.90 222.20 246.90 225.00
Normalized Income After Taxes 621.95 568.60 470.50 459.00 410.40
Normalized Income Available to Common 621.95 568.60 470.50 459.00 410.40
Basic Normalized EPS 2.53 2.32 1.88 1.78 1.57
Diluted Normalized EPS 2.47 2.27 1.84 1.75 1.54
Amortization of Intangibles, Supplemental 112.60 76.70 64.50 47.90 42.70
Depreciation, Supplemental 63.80 64.40 60.90 59.70 58.30
Interest Expense, Supplemental 73.60 79.40 52.60 27.70 30.50
Interest Capitalized, Supplemental -- -- -0.20 -0.30 -0.60
Rental Expense, Supplemental 24.50 24.50 24.50 18.80 18.50
Stock-Based Compensation, Supplemental 20.80 23.30 18.10 16.00 16.10
Equity in Affiliates, Supplemental 6.60 9.20 10.80 9.20 -5.80
Minority Interest, Supplemental -- -- -- -- --
Research & Development Expense, Supplemental 93.60 89.70 70.80 63.20 64.70
Audit-Related Fees, Supplemental -- 3.23 3.19 2.92 3.07
Audit-Related Fees -- 0.21 0.61 0.64 0.59
Tax Fees, Supplemental -- 0.45 0.54 0.37 0.47
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00 0.00
Gross Margin 45.53 44.40 45.80 45.54 44.53
Operating Margin 19.28 19.10 19.40 20.73 19.86
Pretax Margin 17.75 17.35 18.34 20.21 18.72
Effective Tax Rate 20.40 20.97 32.08 34.98 35.41
Net Profit Margin 14.13 13.71 12.46 13.14 12.09
Normalized EBIT 847.80 791.70 732.70 724.20 676.30
Normalized EBITDA 1,024.20 932.80 858.10 831.80 777.30
Current Tax - Domestic 117.20 103.40 419.60 183.40 161.40
Current Tax - Foreign 10.10 13.00 11.20 11.40 14.10
Current Tax - Local 24.90 23.40 29.00 27.20 25.50
Current Tax - Total 152.20 139.80 459.80 222.00 201.00
Deferred Tax - Domestic 3.60 5.40 -235.00 19.20 22.80
Deferred Tax - Foreign 2.50 1.10 -6.40 1.60 -2.10
Deferred Tax - Local -0.50 4.60 3.80 4.10 3.30
Deferred Tax - Total 5.60 11.10 -237.60 24.90 24.00
Income Tax - Total 157.80 150.90 222.20 246.90 225.00
Interest Cost - Domestic -- -- -- -- 2.90
Service Cost - Domestic -- -- -- -- 0.30
Prior Service Cost - Domestic -- -- -- -- 0.00
Expected Return on Assets - Domestic -- -- -- -- -4.80
Actuarial Gains and Losses - Domestic -- -- -- -- 0.20
Curtailments & Settlements - Domestic -- -- -- -- 9.60
Domestic Pension Plan Expense -- -- -- -- 8.20
Interest Cost - Post-Retirement -- -- -- -- 0.90
Service Cost - Post-Retirement -- -- -- -- 0.20
Prior Service Cost - Post-Retirement -- -- -- -- -0.70
Expected Return on Assets - Post-Retirement -- -- -- -- 0.00
Actuarial Gains and Losses - Post-Retirement -- -- -- -- 0.10
Other Post-Retirement, Net -- -- -- -- --
Post-Retirement Plan Expense -- -- -- -- 0.50
Defined Contribution Expense - Domestic -- -- -- -- --
Total Pension Expense -- -- -- -- 8.70
Discount Rate - Domestic -- -- -- -- 3.47
Discount Rate - Post-Retirement -- -- -- -- 3.76
Expected Rate of Return - Domestic -- -- -- -- 5.53
Compensation Rate - Domestic -- -- -- -- 3.53
Total Plan Interest Cost -- -- -- -- 3.80
Total Plan Service Cost -- -- -- -- 0.50
Total Plan Expected Return -- -- -- -- -4.80
Total Plan Other Expense -- -- -- -- --

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