Income Statement
| Year Ending Dec 2017 (Update) | Year Ending Dec 2016 (Update) | Year Ending Jan 2016 (Update) | Year Ending Jan 2015 (Restated) | |
|---|---|---|---|---|
| Net Sales | 6,613.80 | 6,086.50 | 5,966.90 | 6,330.30 |
| Revenue | 6,613.80 | 6,086.50 | 5,966.90 | 6,330.30 |
| Total Revenue | 6,613.80 | 6,086.50 | 5,966.90 | 6,330.30 |
| Cost of Revenue | 4,801.60 | 4,386.80 | 4,321.10 | 4,679.10 |
| Cost of Revenue, Total | 4,801.60 | 4,386.80 | 4,321.10 | 4,679.10 |
| Gross Profit | 1,812.20 | 1,699.70 | 1,645.80 | 1,651.20 |
| Selling/General/Administrative Expense | 956.70 | 976.50 | 1,016.20 | 1,056.40 |
| Labor & Related Expense | 30.20 | 27.20 | -- | -- |
| Advertising Expense | -- | -- | -- | -- |
| Selling/General/Administrative Expenses, Total | 986.90 | 1,003.70 | 1,016.20 | 1,056.40 |
| Research & Development | 93.40 | 89.70 | 91.90 | 102.50 |
| Interest Expense - Operating | 63.00 | 59.90 | 60.60 | 63.40 |
| Interest Capitalized - Operating | -- | -- | -- | -- |
| Interest Expense, Net - Operating | 63.00 | 59.90 | 60.60 | 63.40 |
| Investment Income - Operating | 42.90 | 4.10 | -0.10 | -0.10 |
| Interest/Investment Income - Operating | 42.90 | 4.10 | -0.10 | -0.10 |
| Interest Expense (Income), Net-Operating, Total | 105.90 | 64.00 | 60.50 | 63.30 |
| Restructuring Charge | 31.20 | 14.70 | 52.50 | 54.70 |
| Litigation | 0.00 | 0.00 | -0.30 | 0.00 |
| Impairment-Assets Held for Use | 2.20 | 5.20 | 7.00 | 11.40 |
| Loss (Gain) on Sale of Assets - Operating | -2.10 | -1.10 | -1.70 | -2.50 |
| Other Unusual Expense (Income) | 5.20 | 46.40 | 10.80 | 4.60 |
| Unusual Expense (Income) | 36.50 | 65.20 | 68.30 | 68.20 |
| Other, Net | -- | -- | -- | -- |
| Other Operating Expenses, Total | -- | -- | -- | -- |
| Total Operating Expense | 6,024.30 | 5,609.40 | 5,558.00 | 5,969.50 |
| Operating Income | 589.50 | 477.10 | 408.90 | 360.80 |
| Net Income Before Taxes | 589.50 | 477.10 | 408.90 | 360.80 |
| Income Tax – Total | 135.70 | 156.40 | 134.50 | 113.50 |
| Income After Tax | 453.80 | 320.70 | 274.40 | 247.30 |
| Net Income Before Extraordinary Items | 453.80 | 320.70 | 274.40 | 247.30 |
| Discontinued Operations | 0.00 | 0.00 | -0.10 | -2.20 |
| Extraordinary Item | -172.00 | -- | -- | -- |
| Total Extraordinary Items | -172.00 | 0.00 | -0.10 | -2.20 |
| Net Income | 281.80 | 320.70 | 274.30 | 245.10 |
| Income Available to Common Excluding Extraordinary Items | 453.80 | 320.70 | 274.40 | 247.30 |
| Income Available to Common Stocks Including Extraordinary Items | 281.80 | 320.70 | 274.30 | 245.10 |
| Basic Weighted Average Shares | 88.30 | 89.10 | 91.00 | 93.80 |
| Basic EPS Excluding Extraordinary Items | 5.14 | 3.60 | 3.02 | 2.64 |
| Basic EPS Including Extraordinary Items | 3.19 | 3.60 | 3.01 | 2.61 |
| Dilution Adjustment | -- | -- | -- | -- |
| Diluted Net Income | 281.80 | 320.70 | 274.30 | 245.10 |
| Diluted Weighted Average Shares | 90.10 | 90.70 | 92.90 | 95.70 |
| Diluted EPS Excluding Extraordinary Items | 5.04 | 3.54 | 2.95 | 2.58 |
| Diluted EPS Including Extraordinary Items | 3.13 | 3.54 | 2.95 | 2.56 |
| DPS - Common Stock Primary Issue | 1.76 | 1.60 | 1.46 | 1.34 |
| Gross Dividends - Common Stock | 155.50 | 142.50 | 133.10 | 125.10 |
| Total Special Items | 36.50 | 65.20 | 68.30 | 68.20 |
| Normalized Income Before Taxes | 626.00 | 542.30 | 477.20 | 429.00 |
| Effect of Special Items on Income Taxes | 8.40 | 21.37 | 22.47 | 21.45 |
| Income Taxes Excluding Impact of Special Items | 144.10 | 177.77 | 156.97 | 134.95 |
| Normalized Income After Taxes | 481.90 | 364.53 | 320.23 | 294.05 |
| Normalized Income Available to Common | 481.90 | 364.53 | 320.23 | 294.05 |
| Basic Normalized EPS | 5.46 | 4.09 | 3.52 | 3.13 |
| Diluted Normalized EPS | 5.35 | 4.02 | 3.45 | 3.07 |
| Amortization of Intangibles, Supplemental | 52.10 | 62.60 | 63.10 | 66.10 |
| Depreciation, Supplemental | 126.60 | 117.50 | 125.20 | 135.50 |
| Interest Expense, Supplemental | 63.00 | 59.90 | 57.60 | 59.50 |
| Interest Capitalized, Supplemental | -4.90 | -3.60 | -3.00 | -3.90 |
| Rental Expense, Supplemental | 64.00 | 58.00 | 58.00 | 67.00 |
| Stock-Based Compensation, Supplemental | 30.20 | 27.20 | 26.30 | 28.30 |
| Advertising Expense, Supplemental | -- | -- | -- | -- |
| Research & Development Expense, Supplemental | 93.40 | 89.70 | 91.90 | 102.50 |
| Audit-Related Fees, Supplemental | 8.03 | 7.00 | 5.80 | 6.50 |
| Audit-Related Fees | 0.45 | 0.80 | 0.30 | 0.20 |
| Tax Fees, Supplemental | 3.32 | 4.00 | 3.50 | 4.20 |
| All Other Fees Paid to Auditor, Supplemental | 0.06 | 0.00 | 0.00 | 0.10 |
| Gross Margin | 27.40 | 27.93 | 27.58 | 26.08 |
| Operating Margin | 8.91 | 7.84 | 6.85 | 5.70 |
| Pretax Margin | 8.91 | 7.84 | 6.85 | 5.70 |
| Effective Tax Rate | 23.02 | 32.78 | 32.89 | 31.46 |
| Net Profit Margin | 6.86 | 5.27 | 4.60 | 3.91 |
| Normalized EBIT | 731.90 | 606.30 | 537.70 | 492.30 |
| Normalized EBITDA | 910.60 | 786.40 | 726.00 | 693.90 |
| Current Tax - Domestic | -109.30 | 10.10 | 26.40 | 14.50 |
| Current Tax - Foreign | 111.00 | 77.30 | 92.70 | 116.00 |
| Current Tax - Local | 0.20 | 0.60 | -0.10 | -0.20 |
| Current Tax - Total | 1.90 | 88.00 | 119.00 | 130.30 |
| Deferred Tax - Domestic | 119.10 | 64.40 | 6.30 | -16.10 |
| Deferred Tax - Foreign | 18.40 | 7.00 | 8.70 | -2.60 |
| Deferred Tax - Local | -3.70 | -3.00 | 0.50 | 1.90 |
| Deferred Tax - Total | 133.80 | 68.40 | 15.50 | -16.80 |
| Income Tax - Total | 135.70 | 156.40 | 134.50 | 113.50 |
| Interest Cost - Domestic | 35.30 | 34.40 | 45.80 | -- |
| Service Cost - Domestic | 0.50 | 0.80 | 0.40 | -- |
| Prior Service Cost - Domestic | 0.90 | 1.20 | 1.20 | -- |
| Expected Return on Assets - Domestic | -40.50 | -42.70 | -51.50 | -- |
| Actuarial Gains and Losses - Domestic | 20.40 | 19.00 | 20.00 | -- |
| Curtailments & Settlements - Domestic | -- | -- | -- | -- |
| Transition Costs - Domestic | -- | -- | -- | -- |
| Other Pension, Net - Domestic | 0.00 | 41.40 | 0.00 | -- |
| Domestic Pension Plan Expense | 16.60 | 54.10 | 15.90 | -- |
| Interest Cost - Foreign | 14.30 | 16.40 | 17.30 | -- |
| Service Cost - Foreign | 18.20 | 13.90 | 13.80 | -- |
| Prior Service Cost - Foreign | -0.40 | 0.00 | 0.00 | -- |
| Expected Return on Assets - Foreign | -21.10 | -21.40 | -21.50 | -- |
| Actuarial Gains and Losses - Foreign | 10.80 | 7.00 | 9.40 | -- |
| Curtailments & Settlements - Foreign | 0.00 | -0.20 | 4.10 | -- |
| Transition Costs - Foreign | 0.00 | 0.10 | 0.00 | -- |
| Foreign Pension Plan Expense | 21.80 | 15.80 | 23.10 | -- |
| Interest Cost - Post-Retirement | 0.10 | 0.10 | 0.30 | -- |
| Service Cost - Post-Retirement | 0.00 | 0.00 | 0.00 | -- |
| Prior Service Cost - Post-Retirement | -3.30 | -3.20 | -3.30 | -- |
| Actuarial Gains and Losses - Post-Retirement | 1.50 | 1.70 | 2.20 | -- |
| Curtailments & Settlements - Post-Retirement | -- | -- | -- | -- |
| Post-Retirement Plan Expense | -1.70 | -1.40 | -0.80 | -- |
| Defined Contribution Expense - Domestic | 20.20 | 20.00 | 20.20 | -- |
| Total Pension Expense | 56.90 | 88.50 | 58.40 | -- |
| Discount Rate - Domestic | 4.18 | 4.55 | 4.00 | -- |
| Discount Rate - Foreign | 2.12 | 2.95 | 2.54 | -- |
| Discount Rate - Post-Retirement | 3.95 | 4.13 | 3.50 | -- |
| Expected Rate of Return - Domestic | 7.00 | 7.25 | 7.50 | -- |
| Expected Rate of Return - Foreign | 7.25 | 4.14 | 4.27 | -- |
| Compensation Rate - Domestic | -- | -- | -- | -- |
| Compensation Rate - Foreign | 2.27 | 2.24 | 2.22 | -- |
| Total Plan Interest Cost | 49.70 | 50.90 | 63.40 | -- |
| Total Plan Service Cost | 18.70 | 14.70 | 14.20 | -- |
| Total Plan Expected Return | -61.60 | -64.10 | -73.00 | -- |
| Total Plan Other Expense | 0.00 | 41.40 | 0.00 | -- |
In millions of USD (except for per share items)
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