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Income Statement

Income Statement

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  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Jan 2016 (Update) Year Ending Jan 2015 (Restated)
Net Sales 6.61M 6.09M 5.97M 6.33M
Revenue 6.61M 6.09M 5.97M 6.33M
Total Revenue 6.61M 6.09M 5.97M 6.33M
Cost of Revenue 4.80M 4.39M 4.32M 4.68M
Cost of Revenue, Total 4.80M 4.39M 4.32M 4.68M
Gross Profit 1.81M 1.70M 1.65M 1.65M
Selling/General/Administrative Expense 956.70 976.50 1.02M 1.06M
Labor & Related Expense 30.20 27.20
Advertising Expense
Selling/General/Administrative Expenses, Total 986.90 1.00M 1.02M 1.06M
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 -- -- -0.30 --
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 6.02M 5.61M 5.56M 5.97M
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 -- -- -0.10 -2.20
Extraordinary Item -172.00
Total Extraordinary Items -172.00 -- -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 -- -- 0.10
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 -- 41.40 --
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 -- --
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 -- -0.20 4.10
Transition Costs - Foreign -- 0.10 --
Foreign Pension Plan Expense 21.80 15.80 23.10
Interest Cost - Post-Retirement 0.10 0.10 0.30
Service Cost - Post-Retirement -- -- --
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 -- 41.40 --

In millions of USD (except for per share items)

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