Income Statement

Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Jan 2016 (Update)
Net Sales 7,159.00 6,613.80 6,086.50 5,966.90
Revenue 7,159.00 6,613.80 6,086.50 5,966.90
Total Revenue 7,159.00 6,613.80 6,086.50 5,966.90
Cost of Revenue 5,243.50 4,801.60 4,386.80 4,321.10
Cost of Revenue, Total 5,243.50 4,801.60 4,386.80 4,321.10
Gross Profit 1,915.50 1,812.20 1,699.70 1,645.80
Selling/General/Administrative Expense 1,127.50 956.70 976.50 1,016.20
Labor & Related Expense -- 30.20 27.20 --
Advertising Expense -- -- -- --
Selling/General/Administrative Expenses, Total 1,127.50 986.90 1,003.70 1,016.20
Research & Development -- 93.40 89.70 91.90
Interest Expense - Operating 58.50 63.00 59.90 60.60
Interest Capitalized - Operating -- -- -- --
Interest Expense, Net - Operating 58.50 63.00 59.90 60.60
Investment Income - Operating -- 42.90 4.10 -0.10
Interest/Investment Income - Operating -- 42.90 4.10 -0.10
Interest Expense (Income), Net-Operating, Total 58.50 105.90 64.00 60.50
Restructuring Charge 63.50 31.20 14.70 52.50
Litigation -- 0.00 0.00 -0.30
Impairment-Assets Held for Use 10.70 2.20 5.20 7.00
Loss (Gain) on Sale of Assets - Operating -2.70 -2.10 -1.10 -1.70
Other Unusual Expense (Income) -1.60 5.20 46.40 10.80
Unusual Expense (Income) 69.90 36.50 65.20 68.30
Total Operating Expense 6,499.40 6,024.30 5,609.40 5,558.00
Operating Income 659.60 589.50 477.10 408.90
Other Non-Operating Income (Expense) -104.80 -- -- --
Other, Net -104.80 -- -- --
Net Income Before Taxes 554.80 589.50 477.10 408.90
Income Tax – Total 89.10 135.70 156.40 134.50
Income After Tax 465.70 453.80 320.70 274.40
Equity In Affiliates -2.00 -- -- --
Net Income Before Extraordinary Items 463.70 453.80 320.70 274.40
Discontinued Operations -- 0.00 0.00 -0.10
Extraordinary Item 3.70 -172.00 -- --
Total Extraordinary Items 3.70 -172.00 0.00 -0.10
Net Income 467.40 281.80 320.70 274.30
Income Available to Common Excluding Extraordinary Items 463.70 453.80 320.70 274.40
Income Available to Common Stocks Including Extraordinary Items 467.40 281.80 320.70 274.30
Basic Weighted Average Shares 88.60 88.30 89.10 91.00
Basic EPS Excluding Extraordinary Items 5.23 5.14 3.60 3.02
Basic EPS Including Extraordinary Items 5.28 3.19 3.60 3.01
Dilution Adjustment -- -- -- --
Diluted Net Income 467.40 281.80 320.70 274.30
Diluted Weighted Average Shares 88.60 90.10 90.70 92.90
Diluted EPS Excluding Extraordinary Items 5.23 5.04 3.54 2.95
Diluted EPS Including Extraordinary Items 5.28 3.13 3.54 2.95
DPS - Common Stock Primary Issue 2.01 1.76 1.60 1.46
Gross Dividends - Common Stock -- 155.50 142.50 133.10
Total Special Items 69.90 36.50 65.20 68.30
Normalized Income Before Taxes 624.70 626.00 542.30 477.20
Effect of Special Items on Income Taxes 11.23 8.40 21.37 22.47
Income Taxes Excluding Impact of Special Items 100.33 144.10 177.77 156.97
Normalized Income After Taxes 524.37 481.90 364.53 320.23
Normalized Income Available to Common 522.37 481.90 364.53 320.23
Basic Normalized EPS 5.90 5.46 4.09 3.52
Diluted Normalized EPS 5.90 5.35 4.02 3.45
Amortization of Intangibles, Supplemental 39.50 52.10 62.60 63.10
Depreciation, Supplemental 141.50 126.60 117.50 125.20
Interest Expense, Supplemental 58.50 63.00 59.90 57.60
Interest Capitalized, Supplemental -- -4.90 -3.60 -3.00
Rental Expense, Supplemental -- 64.00 58.00 58.00
Stock-Based Compensation, Supplemental -- 30.20 27.20 26.30
Advertising Expense, Supplemental -- -- -- --
Equity in Affiliates, Supplemental -2.00 -- -- --
Research & Development Expense, Supplemental -- 93.40 89.70 91.90
Audit-Related Fees, Supplemental -- 8.03 7.00 5.80
Audit-Related Fees -- 0.45 0.80 0.30
Tax Fees, Supplemental -- 3.32 4.00 3.50
All Other Fees Paid to Auditor, Supplemental -- 0.06 0.00 0.00
Gross Margin 26.76 27.40 27.93 27.58
Operating Margin 9.21 8.91 7.84 6.85
Pretax Margin 7.75 8.91 7.84 6.85
Effective Tax Rate 16.06 23.02 32.78 32.89
Net Profit Margin 6.48 6.86 5.27 4.60
Normalized EBIT 788.00 731.90 606.30 537.70
Normalized EBITDA 969.00 910.60 786.40 726.00
Current Tax - Domestic -- -109.30 10.10 26.40
Current Tax - Foreign -- 111.00 77.30 92.70
Current Tax - Local -- 0.20 0.60 -0.10
Current Tax - Total -- 1.90 88.00 119.00
Deferred Tax - Domestic -- 119.10 64.40 6.30
Deferred Tax - Foreign -- 18.40 7.00 8.70
Deferred Tax - Local -- -3.70 -3.00 0.50
Deferred Tax - Total -- 133.80 68.40 15.50
Income Tax - Total -- 135.70 156.40 134.50
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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