Income Statement

Income Statement

  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Jan 2022 (Update) Year Ending Jan 2021 (Update)
Net Sales 8,364.30 9,039.30 8,408.30 6,971.50
Revenue 8,364.30 9,039.30 8,408.30 6,971.50
Total Revenue 8,364.30 9,039.30 8,408.30 6,971.50
Cost of Revenue 6,086.80 6,635.10 6,095.50 5,048.20
Cost of Revenue, Total 6,086.80 6,635.10 6,095.50 5,048.20
Gross Profit 2,277.50 2,404.20 2,312.80 1,923.30
Selling/General/Administrative Expense 1,177.90 1,194.70 1,111.90 947.70
Labor & Related Expense -- -- -- --
Selling/General/Administrative Expenses, Total 1,177.90 1,194.70 1,111.90 947.70
Research & Development 135.80 136.10 136.60 112.80
Interest Expense - Operating 119.00 84.10 70.20 70.00
Interest Expense, Net - Operating 119.00 84.10 70.20 70.00
Investment Income - Operating 1.50 -13.50 -23.00 -5.40
Interest/Investment Income - Operating 1.50 -13.50 -23.00 -5.40
Interest Expense (Income), Net-Operating, Total 120.50 70.60 47.20 64.60
Restructuring Charge 70.80 7.60 10.50 49.10
Litigation 64.30 6.30 -0.40 0.00
Impairment-Assets Held for Use 8.60 0.10 3.10 6.20
Loss (Gain) on Sale of Assets - Operating 0.50 -1.40 0.20 -0.50
Other Unusual Expense (Income) 35.20 0.30 15.20 4.20
Unusual Expense (Income) 179.40 12.90 28.60 59.00
Total Operating Expense 7,700.40 8,049.40 7,419.80 6,232.30
Operating Income 663.90 989.90 988.50 739.20
Other Non-Operating Income (Expense) 30.80 9.40 4.10 -1.90
Other, Net 30.80 9.40 4.10 -1.90
Net Income Before Taxes 694.70 999.30 992.60 737.30
Income Tax – Total 191.70 242.20 248.60 177.70
Income After Tax 503.00 757.10 744.00 559.60
Equity In Affiliates 0.00 0.00 -3.90 -3.70
Net Income Before Extraordinary Items 503.00 757.10 740.10 555.90
Discontinued Operations -- -- -- --
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 503.00 757.10 740.10 555.90
Income Available to Common Excluding Extraordinary Items 503.00 757.10 740.10 555.90
Income Available to Common Stocks Including Extraordinary Items 503.00 757.10 740.10 555.90
Basic Weighted Average Shares 80.70 81.60 82.90 83.40
Basic EPS Excluding Extraordinary Items 6.23 9.28 8.93 6.67
Basic EPS Including Extraordinary Items 6.23 9.28 8.93 6.67
Diluted Net Income 503.00 757.10 740.10 555.90
Diluted Weighted Average Shares 81.10 82.20 83.80 84.10
Diluted EPS Excluding Extraordinary Items 6.20 9.21 8.83 6.61
Diluted EPS Including Extraordinary Items 6.20 9.21 8.83 6.61
DPS - Common Stock Primary Issue 3.18 2.93 2.66 2.36
Gross Dividends - Common Stock 256.70 238.90 220.60 196.80
Total Special Items 179.40 12.90 28.60 59.00
Normalized Income Before Taxes 874.10 1,012.20 1,021.20 796.30
Effect of Special Items on Income Taxes 49.50 3.13 7.16 14.22
Income Taxes Excluding Impact of Special Items 241.20 245.33 255.76 191.92
Normalized Income After Taxes 632.90 766.87 765.44 604.38
Normalized Income Available to Common 632.90 766.87 761.54 600.68
Basic Normalized EPS 7.84 9.40 9.19 7.20
Diluted Normalized EPS 7.80 9.33 9.09 7.14
Amortization of Intangibles, Supplemental 111.00 113.30 76.80 51.10
Depreciation, Supplemental 187.40 177.40 167.30 154.20
Interest Expense, Supplemental 119.00 84.10 70.20 70.00
Interest Capitalized, Supplemental -7.50 -5.70 -4.80 -3.90
Rental Expense, Supplemental 73.60 70.80 68.80 63.10
Stock-Based Compensation, Supplemental 22.30 47.40 37.20 24.00
Equity in Affiliates, Supplemental 0.00 0.00 -3.90 -3.70
Research & Development Expense, Supplemental 135.80 136.10 136.60 112.80
Audit-Related Fees, Supplemental 9.62 9.16 8.69 8.46
Audit-Related Fees 0.21 0.20 0.24 0.17
Tax Fees, Supplemental 3.84 4.27 4.26 4.17
All Other Fees Paid to Auditor, Supplemental 0.02 0.02 0.02 0.02
Gross Margin 27.23 26.60 27.51 27.59
Operating Margin 7.94 10.95 11.76 10.60
Pretax Margin 8.31 11.06 11.81 10.58
Effective Tax Rate 27.59 24.24 25.05 24.10
Net Profit Margin 6.01 8.38 8.80 7.97
Normalized EBIT 963.80 1,073.40 1,064.30 862.80
Normalized EBITDA 1,262.20 1,364.10 1,308.40 1,068.10
Current Tax - Domestic 42.50 29.40 7.30 1.10
Current Tax - Foreign 160.80 177.70 229.90 168.50
Current Tax - Local 9.00 8.80 5.30 1.90
Current Tax - Total 212.30 215.90 242.50 171.50
Deferred Tax - Domestic -29.00 5.80 -1.10 5.00
Deferred Tax - Foreign 11.90 19.60 12.50 -0.40
Deferred Tax - Local -3.50 0.90 -5.30 1.60
Deferred Tax - Total -20.60 26.30 6.10 6.20
Other Tax -- -- -- --
Income Tax - Total 191.70 242.20 248.60 177.70
Interest Cost - Domestic 2.40 1.20 1.00 1.80
Service Cost - Domestic -- -- -- 0.00
Prior Service Cost - Domestic 0.00 0.00 -- 0.00
Expected Return on Assets - Domestic 0.00 0.00 -- 0.00
Actuarial Gains and Losses - Domestic 0.90 -2.70 -0.30 4.30
Curtailments & Settlements - Domestic 0.00 0.10 1.10 0.20
Other Pension, Net - Domestic -- -- -- --
Domestic Pension Plan Expense 3.30 -1.40 1.80 6.30
Interest Cost - Foreign 24.70 10.80 8.90 11.00
Service Cost - Foreign 10.50 16.50 19.00 17.80
Prior Service Cost - Foreign -0.40 -0.40 -0.40 -0.40
Expected Return on Assets - Foreign -33.20 -21.90 -19.80 -18.50
Actuarial Gains and Losses - Foreign -2.10 2.50 6.10 5.20
Curtailments & Settlements - Foreign -0.10 -0.10 0.50 0.30
Transition Costs - Foreign -- -- -- --
Foreign Pension Plan Expense -0.60 7.40 14.30 15.40
Interest Cost - Post-Retirement -- -- -- --
Service Cost - Post-Retirement -- -- -- --
Prior Service Cost - Post-Retirement -- -- -- --
Actuarial Gains and Losses - Post-Retirement -- -- -- --
Post-Retirement Plan Expense -- -- -- --
Defined Contribution Expense - Domestic 30.30 27.30 24.60 22.70
Total Pension Expense 33.00 33.30 40.70 44.40
Discount Rate - Domestic 5.06 2.19 2.20 2.89
Discount Rate - Foreign 4.36 1.57 1.26 1.66
Discount Rate - Post-Retirement -- -- -- --
Expected Rate of Return - Domestic -- -- -- 0.00
Expected Rate of Return - Foreign 4.71 3.00 2.61 2.79
Compensation Rate - Domestic -- -- -- 0.00
Compensation Rate - Foreign 2.75 2.33 2.15 2.21
Total Plan Interest Cost 27.10 12.00 9.90 12.80
Total Plan Service Cost 10.50 16.50 19.00 17.80
Total Plan Expected Return -33.20 -21.90 -19.80 -18.50
Total Plan Other Expense -- -- -- --

In millions of USD (except for per share items)

Source: