Income Statement

  Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Reclassified) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Update)
Net Sales 5,987.00 -- -- -- --
Gross Revenue -- 6,209.00 6,289.00 6,244.00 6,022.00
Sales Returns and Allowances -- -- -- -- -318.00
Revenue 5,987.00 6,209.00 6,289.00 6,244.00 5,704.00
Total Revenue 5,987.00 6,209.00 6,289.00 6,244.00 5,704.00
Cost of Revenue 4,715.00 4,897.00 4,921.00 4,772.00 4,302.00
Cost of Revenue, Total 4,715.00 4,897.00 4,921.00 4,772.00 4,302.00
Gross Profit 1,272.00 1,312.00 1,368.00 1,472.00 1,402.00
Selling/General/Administrative Expense -- -- -- -- 579.00
Selling/General/Administrative Expenses, Total -- -- -- -- 579.00
Investment Income - Operating -- -- -- -- --
Interest/Investment Income - Operating -- -- -- -- --
Interest Expense (Income), Net-Operating, Total -- -- -- -- --
Restructuring Charge 93.00 57.00 64.00 38.00 19.00
Loss (Gain) on Sale of Assets - Operating -- -- -- -- --
Other Unusual Expense (Income) 5.00 -- -- -- --
Unusual Expense (Income) 98.00 57.00 64.00 38.00 19.00
Other Operating Expense 628.00 610.00 611.00 616.00 --
Other, Net -31.00 -19.00 -10.00 -18.00 -4.00
Other Operating Expenses, Total 597.00 591.00 601.00 598.00 -4.00
Total Operating Expense 5,410.00 5,545.00 5,586.00 5,408.00 4,896.00
Operating Income 577.00 664.00 703.00 836.00 808.00
Interest Expense - Non-Operating -75.00 -89.00 -84.00 -83.00 -75.00
Interest Capitalized - Non-Operating 7.00 5.00 3.00 4.00 4.00
Interest Expense, Net Non-Operating -68.00 -84.00 -81.00 -79.00 -71.00
Interest Income, Non-Operating 6.00 7.00 9.00 11.00 10.00
Investment Income, Non-Operating -14.00 -4.00 -14.00 -5.00 -5.00
Interest/Investment Income, Non-Operating -8.00 3.00 -5.00 6.00 5.00
Interest Income (Expense), Net-Non-Operating, Total -76.00 -81.00 -86.00 -73.00 -66.00
Other Non-Operating Income (Expense) 5.00 -1.00 4.00 6.00 --
Other, Net 5.00 -1.00 4.00 6.00 --
Net Income Before Taxes 506.00 582.00 621.00 769.00 742.00
Income Tax – Total 152.00 158.00 164.00 214.00 246.00
Income After Tax 354.00 424.00 457.00 555.00 496.00
Minority Interest -6.00 -11.00 -11.00 -13.00 -11.00
Net Income 348.00 413.00 443.00 519.00 485.00
Basic Weighted Average Shares 67.20 66.90 70.90 72.00 72.30
Basic EPS 5.18 6.17 6.25 7.21 6.71
Diluted Net Income 348.00 413.00 443.00 519.00 485.00
Diluted Weighted Average Shares 67.60 67.40 71.80 73.50 74.10
Diluted EPS 5.15 6.13 6.17 7.06 6.55
DPS - Common Stock Primary Issue 2.53 2.51 2.43 2.10 1.85
Gross Dividends - Common Stock 171.00 169.00 173.00 159.00 138.00
Other Unusual Expense (Income), Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 98.00 57.00 64.00 38.00 19.00
Normalized Income Before Taxes 604.00 639.00 685.00 807.00 761.00
Effect of Special Items on Income Taxes 29.44 15.47 16.90 10.57 6.30
Income Taxes Excluding Impact of Special Items 181.44 173.47 180.90 224.57 252.30
Normalized Income After Taxes 422.56 465.53 504.10 582.43 508.70
Normalized Income Available to Common 416.56 454.53 493.10 569.43 497.70
Basic Normalized EPS 6.20 6.79 6.95 7.91 6.88
Diluted Normalized EPS 6.16 6.74 6.87 7.75 6.72
Amortization of Intangibles, Supplemental 30.00 29.00 30.00 30.00 25.00
Depreciation, Supplemental 183.00 191.00 217.00 179.00 171.00
Interest Expense, Supplemental 68.00 84.00 81.00 79.00 71.00
Interest Capitalized, Supplemental -7.00 -5.00 -3.00 -4.00 -4.00
Rental Expense, Supplemental 58.00 82.00 60.00 51.00 53.00
Stock-Based Compensation, Supplemental 23.00 18.00 21.00 26.00 28.00
Minority Interest, Supplemental -6.00 -11.00 -11.00 -13.00 -11.00
Research & Development Expense, Supplemental 43.00 44.00 46.00 43.00 41.00
Audit-Related Fees, Supplemental -- 5.21 5.17 6.31 5.91
Audit-Related Fees -- 0.08 0.09 0.08 0.11
Tax Fees, Supplemental -- 0.00 0.06 0.06 0.08
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 -- --
Gross Margin 21.25 21.13 21.75 23.57 24.58
Operating Margin 9.64 10.69 11.18 13.39 14.17
Pretax Margin 8.45 9.37 9.87 12.32 13.01
Effective Tax Rate 30.04 27.15 26.41 27.83 33.15
Net Profit Margin 5.81 6.65 7.09 8.68 8.50
Normalized EBIT 675.00 721.00 767.00 874.00 827.00
Normalized EBITDA 888.00 941.00 1,014.00 1,083.00 1,023.00
Current Tax - Domestic 1.00 6.00 17.00 -13.00 95.00
Current Tax - Foreign 156.00 147.00 172.00 179.00 148.00
Current Tax - Local 2.00 2.00 1.00 4.00 8.00
Current Tax - Total 159.00 155.00 190.00 170.00 251.00
Deferred Tax - Domestic -18.00 -8.00 -17.00 54.00 13.00
Deferred Tax - Foreign 12.00 11.00 -7.00 -14.00 -19.00
Deferred Tax - Local -1.00 0.00 -2.00 4.00 1.00
Deferred Tax - Total -7.00 3.00 -26.00 44.00 -5.00
Income Tax - Total 152.00 158.00 164.00 214.00 246.00
Interest Cost - Domestic 11.00 14.00 13.00 13.00 14.00
Service Cost - Domestic 5.00 5.00 6.00 6.00 6.00
Expected Return on Assets - Domestic -21.00 -18.00 -21.00 -21.00 -20.00
Actuarial Gains and Losses - Domestic 0.00 1.00 0.00 0.00 1.00
Curtailments & Settlements - Domestic -- -1.00 0.00 0.00 -1.00
Domestic Pension Plan Expense -5.00 1.00 -2.00 -2.00 0.00
Interest Cost - Foreign 10.00 10.00 10.00 11.00 10.00
Service Cost - Foreign 4.00 3.00 3.00 3.00 3.00
Expected Return on Assets - Foreign -8.00 -8.00 -9.00 -10.00 -10.00
Actuarial Gains and Losses - Foreign 2.00 2.00 2.00 2.00 2.00
Curtailments & Settlements - Foreign -- -- -- -- --
Transition Costs - Foreign -- -- -- -- --
Foreign Pension Plan Expense 8.00 7.00 6.00 6.00 5.00
Interest Cost - Post-Retirement 3.00 3.00 3.00 3.00 2.00
Service Cost - Post-Retirement 0.00 1.00 1.00 1.00 1.00
Prior Service Cost - Post-Retirement -2.00 -2.00 -2.00 -3.00 -2.00
Actuarial Gains and Losses - Post-Retirement -- -- -- -- --
Curtailments & Settlements - Post-Retirement -- -- -- -- --
Post-Retirement Plan Expense 1.00 2.00 2.00 1.00 1.00
Defined Contribution Expense - Domestic 22.00 20.00 21.00 -- --
Total Pension Expense 26.00 30.00 27.00 5.00 6.00
Discount Rate - Domestic 3.34 4.38 3.70 4.30 4.30
Discount Rate - Foreign 3.55 4.33 4.02 4.34 4.57
Discount Rate - Post-Retirement -- 5.49 4.93 5.46 5.30
Expected Rate of Return - Domestic 5.30 5.30 5.30 5.75 5.75
Expected Rate of Return - Foreign 3.81 4.37 4.31 5.29 5.41
Compensation Rate - Domestic 4.21 4.31 4.42 4.54 4.71
Compensation Rate - Foreign 3.68 3.63 3.58 3.62 3.73
Total Plan Interest Cost 24.00 27.00 26.00 27.00 26.00
Total Plan Service Cost 9.00 9.00 10.00 10.00 10.00
Total Plan Expected Return -29.00 -26.00 -30.00 -31.00 -30.00
For a more complete picture of our financial results, please review our SEC Filings

In millions of USD (except for per share items)

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