Income Statement

Income Statement

In millions of USD (except for per share items)

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Update)
Net Sales 4.71M 3.77M 3.65M 3.92M 3.84M
Revenue 4.71M 3.77M 3.65M 3.92M 3.84M
Total Revenue 4.71M 3.77M 3.65M 3.92M 3.84M
Cost of Revenue 2.86M 2.31M 2.25M 2.40M 2.34M
Cost of Revenue, Total 2.86M 2.31M 2.25M 2.40M 2.34M
Gross Profit 1.85M 1.46M 1.40M 1.51M 1.50M
Selling/General/Administrative Expense 1.09M 915.00 854.00 920.00 986.00
Selling/General/Administrative Expenses, Total 1.09M 915.00 854.00 920.00 986.00
Research & Development 180.00 110.00 95.00 104.00 104.00
Restructuring Charge 25.00 30.00 6.00 26.00 42.00
Other Unusual Expense (Income) 10.00 -- -9.00 -11.00 4.00
Unusual Expense (Income) 35.00 30.00 -3.00 15.00 46.00
Total Operating Expense 4.16M 3.37M 3.20M 3.44M 3.47M
Operating Income 546.00 406.00 458.00 474.00 363.00
Interest Expense - Non-Operating -82.00 -70.00 -55.00 -54.00 -55.00
Interest Expense, Net Non-Operating -82.00 -70.00 -55.00 -54.00 -55.00
Interest Income, Non-Operating 2.00 2.00 2.00 3.00
Investment Income, Non-Operating 3.00 3.00 2.00 2.00
Interest/Investment Income, Non-Operating 5.00 5.00 4.00 5.00
Interest Income (Expense), Net-Non-Operating, Total -82.00 -65.00 -50.00 -50.00 -50.00
Other Non-Operating Income (Expense) 2.00 -1.00 -5.00 -3.00 -15.00
Other, Net 2.00 -1.00 -5.00 -3.00 -15.00
Net Income Before Taxes 466.00 340.00 403.00 421.00 298.00
Income Tax – Total 136.00 80.00 63.00 84.00 70.00
Income After Tax 330.00 260.00 340.00 337.00 228.00
Minority Interest 1.00
Net Income Before Extraordinary Items 331.00 260.00 340.00 337.00 228.00
Net Income 331.00 260.00 340.00 337.00 228.00
Income Available to Common Excluding Extraordinary Items 331.00 260.00 340.00 337.00 228.00
Income Available to Common Stocks Including Extraordinary Items 331.00 260.00 340.00 337.00 228.00
Basic Weighted Average Shares 179.60 179.10 180.90 183.10 185.22
Basic EPS Excluding Extraordinary Items 1.84 1.45 1.88 1.84 1.23
Basic EPS Including Extraordinary Items 1.84 1.45 1.88 1.84 1.23
Dilution Adjustment
Diluted Net Income 331.00 260.00 340.00 337.00 228.00
Diluted Weighted Average Shares 180.90 180.00 181.70 184.20 186.04
Diluted EPS Excluding Extraordinary Items 1.83 1.44 1.87 1.83 1.23
Diluted EPS Including Extraordinary Items 1.83 1.44 1.87 1.83 1.23
DPS - Common Stock Primary Issue 0.72 0.62 0.56 0.51 0.47
Gross Dividends - Common Stock 112.00 103.00 94.00 87.00
Stock-Based Compensation, Supplemental 18.00 15.00 18.00 27.00
Interest Expense, Supplemental 82.00 70.00 55.00 54.00 55.00
Depreciation, Supplemental 109.00 87.00 88.00 95.00 99.00
Total Special Items 35.00 30.00 -3.00 15.00 46.00
Normalized Income Before Taxes 501.00 370.00 400.00 436.00 344.00
Effect of Special Items on Income Taxes 10.21 7.06 -0.47 2.99 10.81
Income Taxes Excluding Impact of Special Items 146.21 87.06 62.53 86.99 80.81
Normalized Income After Taxes 354.79 282.94 337.47 349.01 263.19
Normalized Income Available to Common 355.79 282.94 337.47 349.01 263.19
Basic Normalized EPS 1.98 1.58 1.87 1.91 1.42
Diluted Normalized EPS 1.97 1.57 1.86 1.89 1.41
Amortization of Intangibles, Supplemental 125.00 64.00 45.00 47.00 51.00
Rental Expense, Supplemental 63.00 59.00 73.00 77.00
Equity in Affiliates, Supplemental 3.00 3.00 2.00 2.00
Minority Interest, Supplemental 1.00
Research & Development Expense, Supplemental 180.00 110.00 95.00 104.00 104.00
Audit-Related Fees, Supplemental 6.68 7.45 7.97 8.16
Audit-Related Fees 0.11 0.20 0.25 0.37
Tax Fees, Supplemental 2.19 1.83 1.46 3.59
All Other Fees Paid to Auditor, Supplemental 0.01 0.08 0.01 0.01
Gross Margin 39.32 38.74 38.43 38.64 39.07
Operating Margin 11.60 10.77 12.54 12.10 9.46
Pretax Margin 9.90 9.02 11.03 10.75 7.77
Effective Tax Rate 29.18 23.53 15.63 19.95 23.49
Net Profit Margin 7.03 6.89 9.31 8.61 5.94
Normalized EBIT 581.00 436.00 455.00 489.00 409.00
Normalized EBITDA 815.00 587.00 588.00 631.00 559.00
Current Tax - Domestic 19.00 32.00 44.00 37.00
Current Tax - Foreign 42.00 34.00 62.00 46.00
Current Tax - Local 5.00 6.00 7.00 1.00
Current Tax - Total 66.00 72.00 113.00 84.00
Deferred Tax - Domestic 19.00 1.00 -14.00 -6.00
Deferred Tax - Foreign -6.00 -11.00 -15.00 -8.00
Deferred Tax - Local 1.00 1.00 -- --
Deferred Tax - Total 14.00 -9.00 -29.00 -14.00
Income Tax - Total 80.00 63.00 84.00 70.00
Interest Cost - Domestic 4.00 4.00 3.00 3.00
Service Cost - Domestic 3.00 3.00 2.00 3.00
Prior Service Cost - Domestic -- 1.00
Expected Return on Assets - Domestic -5.00 -5.00 -4.00 -4.00
Actuarial Gains and Losses - Domestic 2.00 2.00 2.00 2.00
Domestic Pension Plan Expense 4.00 4.00 3.00 5.00
Interest Cost - Foreign 21.00 22.00 27.00 28.00
Service Cost - Foreign 10.00 12.00 12.00 14.00
Prior Service Cost - Foreign
Expected Return on Assets - Foreign -30.00 -32.00 -32.00 -31.00
Actuarial Gains and Losses - Foreign 8.00 13.00 7.00 13.00
Curtailments & Settlements - Foreign -- -- 1.00 --
Foreign Pension Plan Expense 9.00 15.00 15.00 24.00
Interest Cost - Post-Retirement 3.00 2.00 3.00 3.00
Service Cost - Post-Retirement 1.00 1.00 1.00 1.00
Prior Service Cost - Post-Retirement -3.00 -3.00 -1.00
Actuarial Gains and Losses - Post-Retirement 3.00 3.00 2.00 2.00
Post-Retirement Plan Expense 4.00 3.00 5.00 6.00
Defined Contribution Expense - Domestic 35.00 32.00 36.00 35.00
Total Pension Expense 52.00 54.00 59.00 70.00
Discount Rate - Domestic 4.27 4.01 4.79 4.13
Discount Rate - Foreign 3.44 3.14 4.23 4.04
Discount Rate - Post-Retirement
Expected Rate of Return - Domestic 8.00 8.00 8.00 8.00
Expected Rate of Return - Foreign 7.25 7.31 7.30 7.33
Compensation Rate - Domestic 4.50
Compensation Rate - Foreign 3.29 3.34 3.48 3.50
Compensation Rate - Post-Retirement
Total Plan Interest Cost 28.00 28.00 33.00 34.00
Total Plan Service Cost 14.00 16.00 15.00 18.00
Total Plan Expected Return -35.00 -37.00 -36.00 -35.00

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