Income Statement

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Reclassified) Year Ending Dec 2017 (Reclassified)
Net Sales 6,894.00 5,987.00 -- -- --
Gross Revenue -- -- 6,209.00 6,289.00 6,244.00
Sales Returns and Allowances -- -- -- -- --
Revenue 6,894.00 5,987.00 6,209.00 6,289.00 6,244.00
Total Revenue 6,894.00 5,987.00 6,209.00 6,289.00 6,244.00
Cost of Revenue 5,563.00 4,715.00 4,897.00 4,921.00 4,772.00
Cost of Revenue, Total 5,563.00 4,715.00 4,897.00 4,921.00 4,772.00
Gross Profit 1,331.00 1,272.00 1,312.00 1,368.00 1,472.00
Selling/General/Administrative Expense -- -- -- -- --
Selling/General/Administrative Expenses, Total -- -- -- -- --
Investment Income - Operating -- -- -- -- --
Interest/Investment Income - Operating -- -- -- -- --
Interest Expense (Income), Net-Operating, Total -- -- -- -- --
Restructuring Charge 47.00 93.00 57.00 64.00 38.00
Impairment-Assets Held for Use 340.00 -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- -- --
Other Unusual Expense (Income) -- 5.00 -- -- --
Unusual Expense (Income) 387.00 98.00 57.00 64.00 38.00
Other Operating Expense 668.00 628.00 610.00 611.00 616.00
Other, Net -34.00 -31.00 -19.00 -10.00 -18.00
Other Operating Expenses, Total 634.00 597.00 591.00 601.00 598.00
Total Operating Expense 6,584.00 5,410.00 5,545.00 5,586.00 5,408.00
Operating Income 310.00 577.00 664.00 703.00 836.00
Interest Expense - Non-Operating -78.00 -75.00 -89.00 -84.00 -83.00
Interest Capitalized - Non-Operating 4.00 7.00 5.00 3.00 4.00
Interest Expense, Net Non-Operating -74.00 -68.00 -84.00 -81.00 -79.00
Interest Income, Non-Operating -- 6.00 7.00 9.00 11.00
Investment Income, Non-Operating -- -14.00 -4.00 -14.00 -5.00
Interest/Investment Income, Non-Operating -- -8.00 3.00 -5.00 6.00
Interest Income (Expense), Net-Non-Operating, Total -74.00 -76.00 -81.00 -86.00 -73.00
Other Non-Operating Income (Expense) 12.00 5.00 -1.00 4.00 6.00
Other, Net 12.00 5.00 -1.00 4.00 6.00
Net Income Before Taxes 248.00 506.00 582.00 621.00 769.00
Income Tax – Total 123.00 152.00 158.00 164.00 214.00
Income After Tax 125.00 354.00 424.00 457.00 555.00
Minority Interest -8.00 -6.00 -11.00 -11.00 -13.00
Net Income 117.00 348.00 413.00 443.00 519.00
Basic Weighted Average Shares 67.10 67.20 66.90 70.90 72.00
Basic EPS 1.74 5.18 6.17 6.25 7.21
Diluted Net Income 117.00 348.00 413.00 443.00 519.00
Diluted Weighted Average Shares 67.80 67.60 67.40 71.80 73.50
Diluted EPS 1.73 5.15 6.13 6.17 7.06
DPS - Common Stock Primary Issue 2.57 2.53 2.51 2.43 2.10
Gross Dividends - Common Stock 175.00 171.00 169.00 173.00 159.00
Other Unusual Expense (Income), Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 387.00 98.00 57.00 64.00 38.00
Normalized Income Before Taxes 635.00 604.00 639.00 685.00 807.00
Effect of Special Items on Income Taxes 191.94 29.44 15.47 16.90 10.57
Income Taxes Excluding Impact of Special Items 314.94 181.44 173.47 180.90 224.57
Normalized Income After Taxes 320.06 422.56 465.53 504.10 582.43
Normalized Income Available to Common 312.06 416.56 454.53 493.10 569.43
Basic Normalized EPS 4.65 6.20 6.79 6.95 7.91
Diluted Normalized EPS 4.60 6.16 6.74 6.87 7.75
Amortization of Intangibles, Supplemental 27.00 30.00 29.00 30.00 30.00
Depreciation, Supplemental 194.00 183.00 191.00 217.00 179.00
Interest Expense, Supplemental 74.00 68.00 84.00 81.00 79.00
Interest Capitalized, Supplemental -4.00 -7.00 -5.00 -3.00 -4.00
Rental Expense, Supplemental 58.00 58.00 82.00 60.00 51.00
Stock-Based Compensation, Supplemental 23.00 23.00 18.00 21.00 26.00
Minority Interest, Supplemental -8.00 -6.00 -11.00 -11.00 -13.00
Research & Development Expense, Supplemental 43.00 43.00 44.00 46.00 43.00
Audit-Related Fees, Supplemental 4.38 4.85 5.21 5.17 6.31
Audit-Related Fees 0.05 0.06 0.08 0.09 0.08
Tax Fees, Supplemental -- 0.01 0.00 0.06 0.06
All Other Fees Paid to Auditor, Supplemental -- -- 0.00 0.00 --
Gross Margin 19.31 21.25 21.13 21.75 23.57
Operating Margin 4.50 9.64 10.69 11.18 13.39
Pretax Margin 3.60 8.45 9.37 9.87 12.32
Effective Tax Rate 49.60 30.04 27.15 26.41 27.83
Net Profit Margin 1.70 5.81 6.65 7.09 8.68
Normalized EBIT 697.00 675.00 721.00 767.00 874.00
Normalized EBITDA 918.00 888.00 941.00 1,014.00 1,083.00
Current Tax - Domestic 2.00 1.00 6.00 17.00 -13.00
Current Tax - Foreign 180.00 156.00 147.00 172.00 179.00
Current Tax - Local 2.00 2.00 2.00 1.00 4.00
Current Tax - Total 184.00 159.00 155.00 190.00 170.00
Deferred Tax - Domestic -57.00 -18.00 -8.00 -17.00 54.00
Deferred Tax - Foreign -2.00 12.00 11.00 -7.00 -14.00
Deferred Tax - Local -2.00 -1.00 0.00 -2.00 4.00
Deferred Tax - Total -61.00 -7.00 3.00 -26.00 44.00
Income Tax - Total 123.00 152.00 158.00 164.00 214.00
Interest Cost - Domestic 8.00 11.00 14.00 13.00 13.00
Service Cost - Domestic 4.00 5.00 5.00 6.00 6.00
Expected Return on Assets - Domestic -17.00 -21.00 -18.00 -21.00 -21.00
Actuarial Gains and Losses - Domestic 0.00 0.00 1.00 0.00 0.00
Curtailments & Settlements - Domestic -- -- -1.00 0.00 0.00
Domestic Pension Plan Expense -5.00 -5.00 1.00 -2.00 -2.00
Interest Cost - Foreign 9.00 10.00 10.00 10.00 11.00
Service Cost - Foreign 4.00 4.00 3.00 3.00 3.00
Expected Return on Assets - Foreign -8.00 -8.00 -8.00 -9.00 -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 7.00 8.00 7.00 6.00 6.00
Interest Cost - Post-Retirement 2.00 3.00 3.00 3.00 3.00
Service Cost - Post-Retirement 1.00 0.00 1.00 1.00 1.00
Prior Service Cost - Post-Retirement -2.00 -2.00 -2.00 -2.00 -3.00
Actuarial Gains and Losses - Post-Retirement 1.00 -- -- -- --
Curtailments & Settlements - Post-Retirement -- -- -- -- --
Post-Retirement Plan Expense 2.00 1.00 2.00 2.00 1.00
Defined Contribution Expense - Domestic 22.00 22.00 20.00 21.00 --
Total Pension Expense 26.00 26.00 30.00 27.00 5.00
Discount Rate - Domestic 2.58 3.34 4.38 3.70 4.30
Discount Rate - Foreign 2.84 3.55 4.33 4.02 4.34
Discount Rate - Post-Retirement -- -- 5.49 4.93 5.46
Expected Rate of Return - Domestic 4.10 5.30 5.30 5.30 5.75
Expected Rate of Return - Foreign 3.37 3.81 4.37 4.31 5.29
Compensation Rate - Domestic 4.26 4.21 4.31 4.42 4.54
Compensation Rate - Foreign 3.54 3.68 3.63 3.58 3.62
Total Plan Interest Cost 19.00 24.00 27.00 26.00 27.00
Total Plan Service Cost 9.00 9.00 9.00 10.00 10.00
Total Plan Expected Return -25.00 -29.00 -26.00 -30.00 -31.00
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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