Income Statement

  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Reclassified)
Net Sales 7,946.00 6,894.00 5,987.00 -- --
Gross Revenue -- -- -- 6,209.00 6,289.00
Sales Returns and Allowances -- -- -- -- --
Revenue 7,946.00 6,894.00 5,987.00 6,209.00 6,289.00
Total Revenue 7,946.00 6,894.00 5,987.00 6,209.00 6,289.00
Cost of Revenue 6,452.00 5,563.00 4,715.00 4,897.00 4,921.00
Cost of Revenue, Total 6,452.00 5,563.00 4,715.00 4,897.00 4,921.00
Gross Profit 1,494.00 1,331.00 1,272.00 1,312.00 1,368.00
Selling/General/Administrative Expense -- -- -- -- --
Selling/General/Administrative Expenses, Total -- -- -- -- --
Investment Income - Operating -- -- -- -- --
Interest/Investment Income - Operating -- -- -- -- --
Interest Expense (Income), Net-Operating, Total -- -- -- -- --
Restructuring Charge 4.00 47.00 93.00 57.00 64.00
Impairment-Assets Held for Use -- 340.00 -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- -- --
Other Unusual Expense (Income) -- -- 5.00 -- --
Unusual Expense (Income) 4.00 387.00 98.00 57.00 64.00
Other Operating Expense 715.00 668.00 628.00 610.00 611.00
Other, Net 13.00 -34.00 -31.00 -19.00 -10.00
Other Operating Expenses, Total 728.00 634.00 597.00 591.00 601.00
Total Operating Expense 7,184.00 6,584.00 5,410.00 5,545.00 5,586.00
Operating Income 762.00 310.00 577.00 664.00 703.00
Interest Expense - Non-Operating -103.00 -78.00 -75.00 -89.00 -84.00
Interest Capitalized - Non-Operating 4.00 4.00 7.00 5.00 3.00
Interest Expense, Net Non-Operating -99.00 -74.00 -68.00 -84.00 -81.00
Interest Income, Non-Operating -- -- 6.00 7.00 9.00
Investment Income, Non-Operating -- -- -14.00 -4.00 -14.00
Interest/Investment Income, Non-Operating -- -- -8.00 3.00 -5.00
Interest Income (Expense), Net-Non-Operating, Total -99.00 -74.00 -76.00 -81.00 -86.00
Other Non-Operating Income (Expense) 5.00 12.00 5.00 -1.00 4.00
Other, Net 5.00 12.00 5.00 -1.00 4.00
Net Income Before Taxes 668.00 248.00 506.00 582.00 621.00
Income Tax – Total 166.00 123.00 152.00 158.00 164.00
Income After Tax 502.00 125.00 354.00 424.00 457.00
Minority Interest -10.00 -8.00 -6.00 -11.00 -11.00
Net Income 492.00 117.00 348.00 413.00 443.00
Basic Weighted Average Shares 66.20 67.10 67.20 66.90 70.90
Basic EPS 7.43 1.74 5.18 6.17 6.25
Diluted Net Income 492.00 117.00 348.00 413.00 443.00
Diluted Weighted Average Shares 67.00 67.80 67.60 67.40 71.80
Diluted EPS 7.34 1.73 5.15 6.13 6.17
DPS - Common Stock Primary Issue 2.66 2.57 2.53 2.51 2.43
Gross Dividends - Common Stock 181.00 175.00 171.00 169.00 173.00
Other Unusual Expense (Income), Supplemental 1.00 -- -- -- --
Non-Recurring Items, Total 1.00 -- -- -- --
Total Special Items 5.00 387.00 98.00 57.00 64.00
Normalized Income Before Taxes 673.00 635.00 604.00 639.00 685.00
Effect of Special Items on Income Taxes 1.24 191.94 29.44 15.47 16.90
Income Taxes Excluding Impact of Special Items 167.24 314.94 181.44 173.47 180.90
Normalized Income After Taxes 505.76 320.06 422.56 465.53 504.10
Normalized Income Available to Common 495.76 312.06 416.56 454.53 493.10
Basic Normalized EPS 7.49 4.65 6.20 6.79 6.95
Diluted Normalized EPS 7.40 4.60 6.16 6.74 6.87
Amortization of Intangibles, Supplemental 26.00 27.00 30.00 29.00 30.00
Depreciation, Supplemental 189.00 194.00 183.00 191.00 217.00
Interest Expense, Supplemental 99.00 74.00 68.00 84.00 81.00
Interest Capitalized, Supplemental -4.00 -4.00 -7.00 -5.00 -3.00
Rental Expense, Supplemental 59.00 58.00 58.00 82.00 60.00
Stock-Based Compensation, Supplemental 29.00 23.00 23.00 18.00 21.00
Minority Interest, Supplemental -10.00 -8.00 -6.00 -11.00 -11.00
Research & Development Expense, Supplemental 52.00 43.00 43.00 44.00 46.00
Audit-Related Fees, Supplemental 4.34 4.38 4.85 5.21 5.17
Audit-Related Fees 0.06 0.05 0.06 0.08 0.09
Tax Fees, Supplemental -- -- 0.01 0.00 0.06
All Other Fees Paid to Auditor, Supplemental -- -- -- 0.00 0.00
Gross Margin 18.80 19.31 21.25 21.13 21.75
Operating Margin 9.59 4.50 9.64 10.69 11.18
Pretax Margin 8.41 3.60 8.45 9.37 9.87
Effective Tax Rate 24.85 49.60 30.04 27.15 26.41
Net Profit Margin 6.19 1.70 5.81 6.65 7.09
Normalized EBIT 767.00 697.00 675.00 721.00 767.00
Normalized EBITDA 982.00 918.00 888.00 941.00 1,014.00
Current Tax - Domestic 8.00 2.00 1.00 6.00 17.00
Current Tax - Foreign 159.00 180.00 156.00 147.00 172.00
Current Tax - Local 2.00 2.00 2.00 2.00 1.00
Current Tax - Total 169.00 184.00 159.00 155.00 190.00
Deferred Tax - Domestic 5.00 -57.00 -18.00 -8.00 -17.00
Deferred Tax - Foreign -7.00 -2.00 12.00 11.00 -7.00
Deferred Tax - Local -1.00 -2.00 -1.00 0.00 -2.00
Deferred Tax - Total -3.00 -61.00 -7.00 3.00 -26.00
Income Tax - Total 166.00 123.00 152.00 158.00 164.00
Interest Cost - Domestic 9.00 8.00 11.00 14.00 13.00
Service Cost - Domestic 4.00 4.00 5.00 5.00 6.00
Prior Service Cost - Domestic -1.00 -- -- -- --
Expected Return on Assets - Domestic -16.00 -17.00 -21.00 -18.00 -21.00
Actuarial Gains and Losses - Domestic 0.00 0.00 0.00 1.00 0.00
Curtailments & Settlements - Domestic -- -- -- -1.00 0.00
Domestic Pension Plan Expense -4.00 -5.00 -5.00 1.00 -2.00
Interest Cost - Foreign 9.00 9.00 10.00 10.00 10.00
Service Cost - Foreign 3.00 4.00 4.00 3.00 3.00
Expected Return on Assets - Foreign -7.00 -8.00 -8.00 -8.00 -9.00
Actuarial Gains and Losses - Foreign 1.00 2.00 2.00 2.00 2.00
Curtailments & Settlements - Foreign -- -- -- -- --
Transition Costs - Foreign -- -- -- -- --
Foreign Pension Plan Expense 6.00 7.00 8.00 7.00 6.00
Interest Cost - Post-Retirement 3.00 2.00 3.00 3.00 3.00
Service Cost - Post-Retirement 1.00 1.00 0.00 1.00 1.00
Prior Service Cost - Post-Retirement 0.00 -2.00 -2.00 -2.00 -2.00
Actuarial Gains and Losses - Post-Retirement 0.00 1.00 -- -- --
Curtailments & Settlements - Post-Retirement -- -- -- -- --
Post-Retirement Plan Expense 4.00 2.00 1.00 2.00 2.00
Defined Contribution Expense - Domestic 22.00 22.00 22.00 20.00 21.00
Total Pension Expense 28.00 26.00 26.00 30.00 27.00
Discount Rate - Domestic 2.91 2.58 3.34 4.38 3.70
Discount Rate - Foreign 3.66 2.84 3.55 4.33 4.02
Discount Rate - Post-Retirement 4.22 -- -- 5.49 4.93
Expected Rate of Return - Domestic 4.10 4.10 5.30 5.30 5.30
Expected Rate of Return - Foreign 3.50 3.37 3.81 4.37 4.31
Compensation Rate - Domestic 4.18 4.26 4.21 4.31 4.42
Compensation Rate - Foreign 3.77 3.54 3.68 3.63 3.58
Total Plan Interest Cost 21.00 19.00 24.00 27.00 26.00
Total Plan Service Cost 8.00 9.00 9.00 9.00 10.00
Total Plan Expected Return -23.00 -25.00 -29.00 -26.00 -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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