Income Statement

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	Year Ending Dec 2018 (Update)	Year Ending Dec 2017 (Reclassified)	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)
Net Sales	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M
Revenue	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M
Total Revenue	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M	1.73M
Cost of Revenue	2.00M	1.75M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M	1.27M
Cost of Revenue, Total	2.00M	1.75M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M	1.27M
Gross Profit	1.03M	875.11	789.30	841.14	949.30	942.65	866.66	736.74	563.82	456.27
Selling/General/Administrative Expense	437.39	372.69	397.12	424.67	490.32	477.11	437.22	439.78	377.77	333.14
Labor & Related Expense	123.80	97.39
Advertising Expense							12.38
Selling/General/Administrative Expenses, Total	561.19	470.08	397.12	424.67	490.32	477.11	449.60	439.78	377.77	333.14
Research & Development	54.17	47.90	44.72	47.18	43.26	42.13	37.31
Investment Income - Operating	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Interest/Investment Income - Operating	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Interest Expense (Income), Net-Operating, Total	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Other Unusual Expense (Income)	25.29	-43.06	34.35	162.70	30.05	8.46	9.35	0.28	-0.38	29.90
Unusual Expense (Income)	25.29	-43.06	34.35	162.70	30.05	8.46	9.35	0.28	-0.38	29.90
Total Operating Expense	2.65M	2.25M	1.99M	2.35M	2.44M	2.45M	2.49M	2.40M	1.88M	1.64M
Operating Income	375.54	376.94	288.27	181.70	373.75	406.99	362.08	296.68	186.43	93.23
Interest Expense - Non-Operating	-24.50	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69	-8.52
Interest Expense, Net Non-Operating	-24.50	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69	-8.52
Interest Income, Non-Operating	6.94	4.79	2.09	2.71	3.09	3.32	3.99	3.12	2.38	3.46
Investment Income, Non-Operating	5.48	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17	-5.03
Interest/Investment Income, Non-Operating	12.42	7.53	5.02	5.73	8.51	8.13	9.00	8.51	5.55	-1.56
Interest Income (Expense), Net-Non-Operating, Total	-12.08	-16.69	-14.06	-16.10	-1.93	5.26	4.80	1.80	-1.14	-10.08
Other Non-Operating Income (Expense)	5.21	5.98	3.17	4.18	4.00	4.19	2.69	2.85	1.82	3.59
Other, Net	5.21	5.98	3.17	4.18	4.00	4.19	2.69	2.85	1.82	3.59
Net Income Before Taxes	368.66	366.24	277.39	169.79	375.81	416.44	369.57	301.33	187.11	86.74
Income Tax – Total	81.27	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90	37.91
Income After Tax	287.39	276.00	198.37	127.41	253.88	291.69	257.22	217.01	132.21	48.83
Minority Interest	0.07	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97	-0.26
Net Income Before Extraordinary Items	287.47	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58
Extraordinary Item	-0.40	-28.52
Total Extraordinary Items	-0.40	-28.52
Net Income	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58
Income Available to Common Excluding Extraordinary Items	287.47	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58
Income Available to Common Stocks Including Extraordinary Items	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58
Basic Weighted Average Shares	64.89	65.74	67.46	74.11	79.19	81.98	83.09	83.68	84.41	84.78
Basic EPS Excluding Extraordinary Items	4.43	4.20	2.94	1.72	3.22	3.58	3.10	2.60	1.54	0.57
Basic EPS Including Extraordinary Items	4.42	3.76	2.94	1.72	3.22	3.58	3.10	2.60	1.54	0.57
Dilution Adjustment							--
Diluted Net Income	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24	48.58
Diluted Weighted Average Shares	65.68	66.64	68.16	74.85	80.10	83.04	84.18	84.71	85.22	85.27
Diluted EPS Excluding Extraordinary Items	4.38	4.14	2.91	1.70	3.18	3.54	3.06	2.56	1.53	0.57
Diluted EPS Including Extraordinary Items	4.37	3.71	2.91	1.70	3.18	3.54	3.06	2.56	1.53	0.57
DPS - Common Stock Primary Issue	1.56	1.40	1.28	1.16	0.92	0.80	0.68	0.64	0.58	0.55
Gross Dividends - Common Stock	106.80	87.81	88.17	87.81	76.97	67.99	59.14	53.35	48.70	46.38
(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	25.29	-43.06	34.35	189.05	89.10	30.14	12.58	0.28	-0.57	30.63
Normalized Income Before Taxes	393.95	323.18	311.74	358.83	464.91	446.58	382.15	301.61	186.54	117.37
Effect of Special Items on Income Taxes	5.57	-10.61	9.78	47.18	28.91	9.03	3.82	0.08	-0.07	6.11
Income Taxes Excluding Impact of Special Items	86.84	79.63	88.80	89.56	150.84	133.78	116.18	84.40	54.83	44.01
Normalized Income After Taxes	307.10	243.55	222.94	269.28	314.07	312.80	265.97	217.22	131.71	73.36
Normalized Income Available to Common	307.18	243.57	222.96	269.34	314.88	314.89	266.16	217.39	129.75	73.10
Basic Normalized EPS	4.73	3.71	3.31	3.63	3.98	3.84	3.20	2.60	1.54	0.86
Diluted Normalized EPS	4.68	3.65	3.27	3.60	3.93	3.79	3.16	2.57	1.52	0.86
Amortization of Intangibles, Supplemental	15.74	15.67	14.53	13.30	13.87	13.34	10.64	6.66	5.39	4.52
Depreciation, Supplemental	56.60	52.44	50.55	50.71	55.74	55.54	54.69	55.39	51.97	52.07
Interest Expense, Supplemental	24.50	24.22	19.08	21.82	10.43	2.86	4.19	6.70	6.69	8.52
Rental Expense, Supplemental	25.72	20.45	16.90	16.70	18.10	18.64	17.75	15.22	14.16	14.28
Stock-Based Compensation, Supplemental	18.55	12.70	10.33	7.93	8.42	9.73	8.96	6.61	8.21	5.43
Advertising Expense, Supplemental							12.38	11.27	9.22	7.98
Equity in Affiliates, Supplemental	5.48	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17	-5.03
Minority Interest, Supplemental	0.07	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97	-0.26
Research & Development Expense, Supplemental	54.17	47.90	44.72	47.18	43.26	42.13	37.31	32.83	29.49	27.57
Audit-Related Fees, Supplemental	3.32	3.47	3.08	3.14	3.35	3.06	3.01	3.02	2.61	2.68
Audit-Related Fees	0.07	0.01	0.01	0.09	0.28	0.28	0.51	0.43	0.16	0.29
Tax Fees, Supplemental	0.44	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	33.96	33.34	34.70	33.17	33.74	33.04	30.37	27.34	27.24	26.38
Operating Margin	12.40	14.36	12.67	7.17	13.28	14.27	12.69	11.01	9.01	5.39
Pretax Margin	12.17	13.95	12.19	6.70	13.36	14.60	12.95	11.18	9.04	5.02
Effective Tax Rate	22.04	24.64	28.49	24.96	32.45	29.96	30.40	27.98	29.34	43.70
Net Profit Margin	9.49	10.52	8.72	5.03	9.05	10.30	9.02	8.06	6.29	2.81
Normalized EBIT	413.16	357.13	347.46	395.64	474.77	445.10	382.98	296.96	185.86	123.86
Normalized EBITDA	485.51	425.24	412.53	459.65	544.38	513.98	448.31	359.01	243.22	180.46
Current Tax - Domestic	44.79	46.13	57.09	60.50	71.60	58.10	72.81	42.51	30.64	25.69
Current Tax - Foreign	28.89	25.75	23.34	28.05	24.21	40.35	33.51	19.97	15.53	15.94
Current Tax - Local	10.52	7.64	8.39	9.56	8.24	8.49	8.17	6.70	4.34	3.36
Current Tax - Total	84.20	79.51	88.82	98.10	104.05	106.94	114.49	69.18	50.51	45.00
Deferred Tax - Domestic	-0.36	10.14	-1.72	-47.90	15.18	21.95	-1.67	12.14	6.80	-4.61
Deferred Tax - Foreign	-3.12	-0.08	-8.26	-3.36	1.37	-5.73	-0.75	2.77	-2.64	-2.74
Deferred Tax - Local	0.55	0.67	0.17	-4.46	1.34	1.61	0.29	0.23	0.23	0.26
Deferred Tax - Total	-2.93	10.73	-9.81	-55.73	17.89	17.82	-2.14	15.14	4.39	-7.09
Income Tax - Total	81.27	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90	37.91
Interest Cost - Domestic	21.79	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73	43.10
Service Cost - Domestic	3.39	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37	12.76
Prior Service Cost - Domestic	0.00	0.02	-0.39	-0.63	-0.62	-0.61	-0.09	-0.06	-0.04	-0.02
Expected Return on Assets - Domestic	-32.11	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42	-43.80
Actuarial Gains and Losses - Domestic	3.71	4.01	9.89	19.41	17.64	30.93	31.09	21.82	20.83	25.09
Curtailments & Settlements - Domestic	6.29	8.25	-1.06	142.74	1.77	0.42	0.90	0.53	0.66	-2.34
Domestic Pension Plan Expense	3.07	2.52	13.99	162.82	12.40	29.91	36.26	26.37	29.12	34.77
Defined Contribution Expense - Domestic	26.48	25.29	8.36	10.91	12.16	11.86	10.38	9.44	8.09	6.13
Total Pension Expense	29.55	27.80	22.35	173.73	24.55	41.77	46.64	35.81	37.21	40.91
Discount Rate - Domestic	3.70	4.20	4.50	4.00	4.70	3.80	4.20	5.30	5.80	6.20
Expected Rate of Return - Domestic	5.00	6.00	6.10	6.30	7.30	7.40	7.70	7.90	7.90	8.20
Compensation Rate - Domestic	2.50	2.50	2.70	2.70	4.10	4.10	4.00	4.00	4.00	4.00
Total Plan Interest Cost	21.79	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73	43.10
Total Plan Service Cost	3.39	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37	12.76
Total Plan Expected Return	-32.11	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42	-43.80

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