Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Reclassified) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Gross Revenue 6,209.00 6,289.00 6,244.00 6,022.00 5,958.00
Sales Returns and Allowances -- -- -- -318.00 -337.00
Revenue 6,209.00 6,289.00 6,244.00 5,704.00 5,621.00
Total Revenue 6,209.00 6,289.00 6,244.00 5,704.00 5,621.00
Cost of Revenue 4,897.00 4,921.00 4,772.00 4,302.00 4,379.00
Cost of Revenue, Total 4,897.00 4,921.00 4,772.00 4,302.00 4,379.00
Gross Profit 1,312.00 1,368.00 1,472.00 1,402.00 1,242.00
Selling/General/Administrative Expense -- -- -- 579.00 555.00
Selling/General/Administrative Expenses, Total -- -- -- 579.00 555.00
Investment Income - Operating -- -- -- -- --
Interest/Investment Income - Operating -- -- -- -- --
Interest Expense (Income), Net-Operating, Total -- -- -- -- --
Restructuring Charge 57.00 64.00 38.00 19.00 28.00
Loss (Gain) on Sale of Assets - Operating -- -- -- -- --
Other Unusual Expense (Income) -- -- -- -- --
Unusual Expense (Income) 57.00 64.00 38.00 19.00 28.00
Other Operating Expense 610.00 611.00 616.00 -- --
Other, Net -19.00 -10.00 -18.00 -4.00 -1.00
Other Operating Expenses, Total 591.00 601.00 598.00 -4.00 -1.00
Total Operating Expense 5,545.00 5,586.00 5,408.00 4,896.00 4,961.00
Operating Income 664.00 703.00 836.00 808.00 660.00
Interest Expense - Non-Operating -89.00 -84.00 -83.00 -75.00 -68.00
Interest Capitalized - Non-Operating 5.00 3.00 4.00 4.00 2.00
Interest Expense, Net Non-Operating -84.00 -81.00 -79.00 -71.00 -66.00
Interest Income, Non-Operating 7.00 9.00 11.00 10.00 14.00
Investment Income, Non-Operating -4.00 -14.00 -5.00 -5.00 -9.00
Interest/Investment Income, Non-Operating 3.00 -5.00 6.00 5.00 5.00
Interest Income (Expense), Net-Non-Operating, Total -81.00 -86.00 -73.00 -66.00 -61.00
Other Non-Operating Income (Expense) -1.00 4.00 6.00 -- --
Other, Net -1.00 4.00 6.00 -- --
Net Income Before Taxes 582.00 621.00 769.00 742.00 599.00
Income Tax – Total 158.00 164.00 214.00 246.00 187.00
Income After Tax 424.00 457.00 555.00 496.00 412.00
Minority Interest -11.00 -11.00 -13.00 -11.00 -10.00
Net Income 413.00 443.00 519.00 485.00 402.00
Basic Weighted Average Shares 66.90 70.90 72.00 72.30 71.60
Basic EPS 6.17 6.25 7.21 6.71 5.61
Diluted Net Income 413.00 443.00 519.00 485.00 402.00
Diluted Weighted Average Shares 67.40 71.80 73.50 74.10 73.00
Diluted EPS 6.13 6.17 7.06 6.55 5.51
DPS - Common Stock Primary Issue 2.51 2.43 2.10 1.85 1.71
Gross Dividends - Common Stock 169.00 173.00 159.00 138.00 125.00
Other Unusual Expense (Income), Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 57.00 64.00 38.00 19.00 28.00
Normalized Income Before Taxes 639.00 685.00 807.00 761.00 627.00
Effect of Special Items on Income Taxes 15.47 16.90 10.57 6.30 8.74
Income Taxes Excluding Impact of Special Items 173.47 180.90 224.57 252.30 195.74
Normalized Income After Taxes 465.53 504.10 582.43 508.70 431.26
Normalized Income Available to Common 454.53 493.10 569.43 497.70 421.26
Basic Normalized EPS 6.79 6.95 7.91 6.88 5.88
Diluted Normalized EPS 6.74 6.87 7.75 6.72 5.77
Amortization of Intangibles, Supplemental 29.00 30.00 30.00 25.00 22.00
Depreciation, Supplemental 191.00 217.00 179.00 171.00 172.00
Interest Expense, Supplemental 84.00 81.00 79.00 71.00 66.00
Interest Capitalized, Supplemental -5.00 -3.00 -4.00 -4.00 -2.00
Rental Expense, Supplemental 82.00 60.00 51.00 53.00 52.00
Stock-Based Compensation, Supplemental 18.00 21.00 26.00 28.00 21.00
Minority Interest, Supplemental -11.00 -11.00 -13.00 -11.00 -10.00
Research & Development Expense, Supplemental 44.00 46.00 43.00 41.00 43.00
Audit-Related Fees, Supplemental -- 5.17 6.31 5.91 5.80
Audit-Related Fees -- 0.09 0.08 0.11 0.12
Tax Fees, Supplemental -- 0.06 0.06 0.08 0.01
All Other Fees Paid to Auditor, Supplemental -- -- -- -- --
Gross Margin 21.13 21.75 23.57 24.58 22.10
Operating Margin 10.69 11.18 13.39 14.17 11.74
Pretax Margin 9.37 9.87 12.32 13.01 10.66
Effective Tax Rate 27.15 26.41 27.83 33.15 31.22
Net Profit Margin 6.65 7.09 8.68 8.50 7.15
Normalized EBIT 721.00 767.00 874.00 827.00 688.00
Normalized EBITDA 941.00 1,014.00 1,083.00 1,023.00 882.00
Current Tax - Domestic 6.00 17.00 -13.00 95.00 26.00
Current Tax - Foreign 147.00 172.00 179.00 148.00 164.00
Current Tax - Local 2.00 1.00 4.00 8.00 3.00
Current Tax - Total 155.00 190.00 170.00 251.00 193.00
Deferred Tax - Domestic -8.00 -17.00 54.00 13.00 -8.00
Deferred Tax - Foreign 11.00 -7.00 -14.00 -19.00 3.00
Deferred Tax - Local 0.00 -2.00 4.00 1.00 -1.00
Deferred Tax - Total 3.00 -26.00 44.00 -5.00 -6.00
Income Tax - Total 158.00 164.00 214.00 246.00 187.00
Interest Cost - Domestic 14.00 13.00 13.00 14.00 14.00
Service Cost - Domestic 5.00 6.00 6.00 6.00 8.00
Expected Return on Assets - Domestic -18.00 -21.00 -21.00 -20.00 -24.00
Actuarial Gains and Losses - Domestic 1.00 0.00 0.00 1.00 1.00
Curtailments & Settlements - Domestic -1.00 0.00 0.00 -1.00 -1.00
Domestic Pension Plan Expense 1.00 -2.00 -2.00 0.00 -2.00
Interest Cost - Foreign 10.00 10.00 11.00 10.00 12.00
Service Cost - Foreign 3.00 3.00 3.00 3.00 4.00
Expected Return on Assets - Foreign -8.00 -9.00 -10.00 -10.00 -13.00
Actuarial Gains and Losses - Foreign 2.00 2.00 2.00 2.00 3.00
Curtailments & Settlements - Foreign -- -- -- -- --
Transition Costs - Foreign -- -- -- -- --
Foreign Pension Plan Expense 7.00 6.00 6.00 5.00 6.00
Interest Cost - Post-Retirement 3.00 3.00 3.00 2.00 3.00
Service Cost - Post-Retirement 1.00 1.00 1.00 1.00 1.00
Prior Service Cost - Post-Retirement -2.00 -2.00 -3.00 -2.00 -2.00
Actuarial Gains and Losses - Post-Retirement -- -- -- -- --
Curtailments & Settlements - Post-Retirement -- -- -- -- --
Post-Retirement Plan Expense 2.00 2.00 1.00 1.00 2.00
Defined Contribution Expense - Domestic 20.00 -- -- -- --
Total Pension Expense 30.00 6.00 5.00 6.00 6.00
Discount Rate - Domestic 4.38 3.70 4.30 4.30 4.00
Discount Rate - Foreign 4.33 4.02 4.34 4.57 4.47
Discount Rate - Post-Retirement 5.49 4.93 5.46 5.30 5.70
Expected Rate of Return - Domestic 5.30 5.30 5.75 5.75 7.00
Expected Rate of Return - Foreign 4.37 4.31 5.29 5.41 6.48
Compensation Rate - Domestic 4.31 4.42 4.54 4.71 4.31
Compensation Rate - Foreign 3.63 3.58 3.62 3.73 3.76
Total Plan Interest Cost 27.00 26.00 27.00 26.00 29.00
Total Plan Service Cost 9.00 10.00 10.00 10.00 13.00
Total Plan Expected Return -26.00 -30.00 -31.00 -30.00 -37.00
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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