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:
