Income Statement

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	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)	Year Ending Dec 2012 (Update)	Year Ending Dec 2011 (Update)	Year Ending Dec 2010 (Update)	Year Ending Dec 2009 (Reclassified)	Year Ending Dec 2008 (Reclassified)
Net Sales	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M	2.48M
Revenue	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M	2.48M
Total Revenue	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M	2.48M
Cost of Revenue	1.74M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M	1.27M	1.76M
Cost of Revenue, Total	1.74M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M	1.27M	1.76M
Gross Profit	880.33	789.30	841.14	949.30	942.65	866.66	736.74	563.82	456.27	720.15
Selling/General/Administrative Expense	501.56	397.12	424.67	490.32	477.11	437.22	439.78	377.77	333.14	405.12
Advertising Expense						12.38
Selling/General/Administrative Expenses, Total	501.56	397.12	424.67	490.32	477.11	449.60	439.78	377.77	333.14	405.12
Research & Development	47.90	44.72	47.18	43.26	42.13	37.31
Investment Income - Operating	-11.94	24.84	24.90	11.92	7.97	8.32
Interest/Investment Income - Operating	-11.94	24.84	24.90	11.92	7.97	8.32
Interest Expense (Income), Net-Operating, Total	-11.94	24.84	24.90	11.92	7.97	8.32
Other Unusual Expense (Income)	-34.91	34.35	162.70	30.05	8.46	9.35	0.28	-0.38	29.90	19.37
Unusual Expense (Income)	-34.91	34.35	162.70	30.05	8.46	9.35	0.28	-0.38	29.90	19.37
Total Operating Expense	2.25M	1.99M	2.35M	2.44M	2.45M	2.49M	2.40M	1.88M	1.64M	2.18M
Operating Income	377.71	288.27	181.70	373.75	406.99	362.08	296.68	186.43	93.23	295.66
Interest Expense - Non-Operating	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69	-8.52	-12.16
Interest Expense, Net Non-Operating	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69	-8.52	-12.16
Interest Income, Non-Operating	4.79	2.09	2.71	3.09	3.32	3.99	3.12	2.38	3.46	8.85
Investment Income, Non-Operating	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17	-5.03	6.03
Interest/Investment Income, Non-Operating	7.53	5.02	5.73	8.51	8.13	9.00	8.51	5.55	-1.56	14.88
Interest Income (Expense), Net-Non-Operating, Total	-16.69	-14.06	-16.10	-1.93	5.26	4.80	1.80	-1.14	-10.08	2.72
Other Non-Operating Income (Expense)	5.22	3.17	4.18	4.00	4.19	2.69	2.85	1.82	3.59	1.68
Other, Net	5.22	3.17	4.18	4.00	4.19	2.69	2.85	1.82	3.59	1.68
Net Income Before Taxes	366.24	277.39	169.79	375.81	416.44	369.57	301.33	187.11	86.74	300.07
Income Tax – Total	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90	37.91	87.52
Income After Tax	276.00	198.37	127.41	253.88	291.69	257.22	217.01	132.21	48.83	212.54
Minority Interest	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97	-0.26	-0.26
Net Income Before Extraordinary Items	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58	212.29
Extraordinary Item	-28.52
Total Extraordinary Items	-28.52
Net Income	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58	212.29
Income Available to Common Excluding Extraordinary Items	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58	212.29
Income Available to Common Stocks Including Extraordinary Items	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58	212.29
Basic Weighted Average Shares	65.74	67.46	74.11	79.19	81.98	83.09	83.68	84.41	84.78	85.30
Basic EPS Excluding Extraordinary Items	4.20	2.94	1.72	3.22	3.58	3.10	2.60	1.54	0.57	2.49
Basic EPS Including Extraordinary Items	3.76	2.94	1.72	3.22	3.58	3.10	2.60	1.54	0.57	2.49
Dilution Adjustment						--
Diluted Net Income	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58	212.29
Diluted Weighted Average Shares	66.64	68.16	74.85	80.10	83.04	84.18	84.71	85.22	85.27	86.11
Diluted EPS Excluding Extraordinary Items	4.14	2.91	1.70	3.18	3.54	3.06	2.56	1.53	0.57	2.47
Diluted EPS Including Extraordinary Items	3.71	2.91	1.70	3.18	3.54	3.06	2.56	1.53	0.57	2.47
DPS - Common Stock Primary Issue	1.40	1.28	1.16	0.92	0.80	0.68	0.64	0.58	0.55	0.51
Gross Dividends - Common Stock	87.81	88.17	87.81	76.97	67.99	59.14	53.35	48.70	46.38	43.58
(Gain) Loss on Sale of Assets, Supplemental			6.32	3.93	0.86		--	--	2.28	--
Impairment-Assets Held for Use, Supplemental			6.32	32.74	4.96	1.84
Other Unusual Expense (Income), Supplemental			13.72	22.37	15.86	1.38	--	-0.19	-1.54	--
Non-Recurring Items, Total			26.35	59.05	21.68	3.22	--	-0.19	0.73	--
Total Special Items	-34.91	34.35	189.05	89.10	30.14	12.58	0.28	-0.57	30.63	19.37
Normalized Income Before Taxes	331.33	311.74	358.83	464.91	446.58	382.15	301.61	186.54	117.37	319.44
Effect of Special Items on Income Taxes	-8.60	9.78	47.18	28.91	9.03	3.82	0.08	-0.07	6.11	5.65
Income Taxes Excluding Impact of Special Items	81.64	88.80	89.56	150.84	133.78	116.18	84.40	54.83	44.01	93.17
Normalized Income After Taxes	249.69	222.94	269.28	314.07	312.80	265.97	217.22	131.71	73.36	226.26
Normalized Income Available to Common	249.72	222.96	269.34	314.88	314.89	266.16	217.39	129.75	73.10	226.01
Basic Normalized EPS	3.80	3.31	3.63	3.98	3.84	3.20	2.60	1.54	0.86	2.65
Diluted Normalized EPS	3.75	3.27	3.60	3.93	3.79	3.16	2.57	1.52	0.86	2.62
Amortization of Intangibles, Supplemental	15.67	14.53	13.30	13.87	13.34	10.64	6.66	5.39	4.52	3.43
Depreciation, Supplemental	52.44	50.55	50.71	55.74	55.54	54.69	55.39	51.97	52.07	53.49
Interest Expense, Supplemental	24.22	19.08	21.82	10.43	2.86	4.19	6.70	6.69	8.52	12.16
Rental Expense, Supplemental	20.45	16.90	16.70	18.10	18.64	17.75	15.22	14.16	14.28	14.68
Stock-Based Compensation, Supplemental	12.70	10.33	7.93	8.42	9.73	8.96	6.61	8.21	5.43	4.74
Advertising Expense, Supplemental						12.38	11.27	9.22	7.98	10.34
Equity in Affiliates, Supplemental	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17	-5.03	6.03
Minority Interest, Supplemental	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97	-0.26
Research & Development Expense, Supplemental	47.90	44.72	47.18	43.26	42.13	37.31	32.83	29.49	27.57	26.74
Audit-Related Fees, Supplemental	3.47	3.08	3.14	3.35	3.06	3.01	3.02	2.61	2.68
Audit-Related Fees	0.01	0.01	0.09	0.28	0.28	0.51	0.43	0.16	0.29
Tax Fees, Supplemental	0.24	0.18	0.12	0.15	0.13	0.20	0.18	0.19	0.18
All Other Fees Paid to Auditor, Supplemental	--	--	--	--	0.12		--	--	--
Gross Margin	33.54	34.70	33.17	33.74	33.04	30.37	27.34	27.24	26.38	29.05
Operating Margin	14.39	12.67	7.17	13.28	14.27	12.69	11.01	9.01	5.39	11.93
Pretax Margin	13.95	12.19	6.70	13.36	14.60	12.95	11.18	9.04	5.02	12.10
Effective Tax Rate	24.64	28.49	24.96	32.45	29.96	30.40	27.98	29.34	43.70	29.17
Net Profit Margin	10.52	8.72	5.03	9.05	10.30	9.02	8.06	6.29	2.81	8.56
Normalized EBIT	330.87	347.46	395.64	474.77	445.10	382.98	296.96	185.86	123.86	315.03
Normalized EBITDA	398.98	412.53	459.65	544.38	513.98	448.31	359.01	243.22	180.46	371.96
Current Tax - Domestic	46.13	57.09	60.50	71.60	58.10	72.81	42.51	30.64	25.69	51.70
Current Tax - Foreign	25.75	23.34	28.05	24.21	40.35	33.51	19.97	15.53	15.94	21.88
Current Tax - Local	7.64	8.39	9.56	8.24	8.49	8.17	6.70	4.34	3.36	6.58
Current Tax - Total	79.51	88.82	98.10	104.05	106.94	114.49	69.18	50.51	45.00	80.16
Deferred Tax - Domestic	10.14	-1.72	-47.90	15.18	21.95	-1.67	12.14	6.80	-4.61	8.62
Deferred Tax - Foreign	-0.08	-8.26	-3.36	1.37	-5.73	-0.75	2.77	-2.64	-2.74	-1.44
Deferred Tax - Local	0.67	0.17	-4.46	1.34	1.61	0.29	0.23	0.23	0.26	0.18
Deferred Tax - Total	10.73	-9.81	-55.73	17.89	17.82	-2.14	15.14	4.39	-7.09	7.37
Income Tax - Total	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90	37.91	87.52
Interest Cost - Domestic	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73	43.10	42.62
Service Cost - Domestic	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37	12.76	16.50
Prior Service Cost - Domestic	0.02	-0.39	-0.63	-0.62	-0.61	-0.09	-0.06	-0.04	-0.02	0.07
Expected Return on Assets - Domestic	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42	-43.80	-56.95
Actuarial Gains and Losses - Domestic	4.01	9.89	19.41	17.64	30.93	31.09	21.82	20.83	25.09	1.64
Curtailments & Settlements - Domestic	8.25	-1.06	142.74	1.77	0.42	0.90	0.53	0.66	-2.34	0.75
Domestic Pension Plan Expense	2.52	13.99	162.82	12.40	29.91	36.26	26.37	29.12	34.77	4.61
Defined Contribution Expense - Domestic	25.29	8.36	10.91	12.16	11.86	10.38	9.44	8.09	6.13	9.98
Total Pension Expense	27.80	22.35	173.73	24.55	41.77	46.64	35.81	37.21	40.91	14.59
Discount Rate - Domestic	4.20	4.50	4.00	4.70	3.80	4.20	5.30	5.80	6.20	6.30
Expected Rate of Return - Domestic	6.00	6.10	6.30	7.30	7.40	7.70	7.90	7.90	8.20	8.20
Compensation Rate - Domestic	2.50	2.70	2.70	4.10	4.10	4.00	4.00	4.00	4.00	4.10
Total Plan Interest Cost	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73	43.10	42.62
Total Plan Service Cost	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37	12.76	16.50
Total Plan Expected Return	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42	-43.80	-56.95

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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Income Statement

Income Statement