Fundamentals
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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