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Income Statement

Income Statement

  Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified)
Net Sales 2.66M 3.00M 3.03M 2.62M
Revenue 2.66M 3.00M 3.03M 2.62M
Total Revenue 2.66M 3.00M 3.03M 2.62M
Cost of Revenue 1.78M 2.00M 2.00M 1.75M
Cost of Revenue, Total 1.78M 2.00M 2.00M 1.75M
Gross Profit 872.15 1.00M 1.03M 875.11
Selling/General/Administrative Expense 397.59 447.62 437.39 372.69
Labor & Related Expense 87.41 100.38 123.80 97.39
Advertising Expense
Selling/General/Administrative Expenses, Total 485.00 548.00 561.19 470.08
Research & Development 51.41 56.85 54.17 47.90
Investment Income - Operating 7.39 18.45 12.34 23.24
Interest/Investment Income - Operating 7.39 18.45 12.34 23.24
Interest Expense (Income), Net-Operating, Total 7.39 18.45 12.34 23.24
Loss (Gain) on Sale of Assets - Operating -- -3.05
Other Unusual Expense (Income) 46.27 5.78 25.29 -43.06
Unusual Expense (Income) 46.27 2.74 25.29 -43.06
Total Operating Expense 2.37M 2.62M 2.65M 2.25M
Operating Income 282.07 378.51 375.54 376.94
Interest Expense - Non-Operating -23.96 -25.94 -24.50 -24.22
Interest Expense, Net Non-Operating -23.96 -25.94 -24.50 -24.22
Interest Income, Non-Operating 1.99 2.53 6.94 4.79
Investment Income, Non-Operating 0.41 3.16 5.48 2.74
Interest/Investment Income, Non-Operating 2.39 5.69 12.42 7.53
Interest Income (Expense), Net-Non-Operating, Total -21.57 -20.25 -12.08 -16.69
Other Non-Operating Income (Expense) 3.53 10.23 5.21 5.98
Other, Net 3.53 10.23 5.21 5.98
Net Income Before Taxes 264.04 368.49 368.66 366.24
Income Tax – Total 57.90 75.41 81.27 90.24
Income After Tax 206.14 293.08 287.39 276.00
Minority Interest -0.03 0.03 0.07 0.03
Net Income Before Extraordinary Items 206.12 293.11 287.47 276.03
Extraordinary Item -- -0.40 -28.52
Total Extraordinary Items -- -0.40 -28.52
Net Income 206.12 293.11 287.07 247.50
Income Available to Common Excluding Extraordinary Items 206.12 293.11 287.47 276.03
Income Available to Common Stocks Including Extraordinary Items 206.12 293.11 287.07 247.50
Basic Weighted Average Shares 59.63 61.96 64.89 65.74
Basic EPS Excluding Extraordinary Items 3.46 4.73 4.43 4.20
Basic EPS Including Extraordinary Items 3.46 4.73 4.42 3.76
Dilution Adjustment
Diluted Net Income 206.12 293.11 287.07 247.50
Diluted Weighted Average Shares 60.25 62.66 65.68 66.64
Diluted EPS Excluding Extraordinary Items 3.42 4.68 4.38 4.14
Diluted EPS Including Extraordinary Items 3.42 4.68 4.37 3.71
DPS - Common Stock Primary Issue 1.96 1.88 1.56 1.40
Gross Dividends - Common Stock 118.42 117.95 106.80 87.81
(Gain) Loss on Sale of Assets, Supplemental
Impairment-Assets Held for Use, Supplemental
Other Unusual Expense (Income), Supplemental 8.12 --
Non-Recurring Items, Total 8.12 --
Total Special Items 54.39 2.74 25.29 -43.06
Normalized Income Before Taxes 318.43 371.23 393.95 323.18
Effect of Special Items on Income Taxes 10.59 7.39 5.57 -10.61
Income Taxes Excluding Impact of Special Items 68.49 82.80 86.84 79.63
Normalized Income After Taxes 249.94 288.44 307.10 243.55
Normalized Income Available to Common 249.91 288.46 307.18 243.57
Basic Normalized EPS 4.19 4.66 4.73 3.71
Diluted Normalized EPS 4.15 4.60 4.68 3.65
Amortization of Intangibles, Supplemental 20.36 20.76 15.74 15.67
Depreciation, Supplemental 60.13 60.73 56.60 52.44
Interest Expense, Supplemental 23.96 25.94 24.50 24.22
Rental Expense, Supplemental 23.50 25.39 25.72 20.45
Stock-Based Compensation, Supplemental 15.39 16.62 18.55 12.70
Advertising Expense, Supplemental
Equity in Affiliates, Supplemental 0.41 3.16 5.48 2.74
Minority Interest, Supplemental -0.03 0.03 0.07 0.03
Research & Development Expense, Supplemental 51.41 56.85 54.17 47.90
Audit-Related Fees, Supplemental 3.03 3.32 3.47
Audit-Related Fees 0.06 0.07 0.01
Tax Fees, Supplemental 0.18 0.44 0.24
All Other Fees Paid to Auditor, Supplemental -- -- --
Gross Margin 32.84 33.45 33.96 33.34
Operating Margin 10.62 12.60 12.40 14.36
Pretax Margin 9.94 12.27 12.17 13.95
Effective Tax Rate 21.93 20.46 22.04 24.64
Net Profit Margin 7.76 9.76 9.49 10.52
Normalized EBIT 343.85 399.69 413.16 357.13
Normalized EBITDA 424.35 481.18 485.51 425.24
Current Tax - Domestic 30.09 25.06 44.79 46.13
Current Tax - Foreign 18.02 26.54 28.89 25.75
Current Tax - Local 8.77 9.06 10.52 7.64
Current Tax - Total 56.88 60.67 84.20 79.51
Deferred Tax - Domestic -1.90 6.97 -0.36 10.14
Deferred Tax - Foreign 3.20 6.51 -3.12 -0.08
Deferred Tax - Local -0.28 1.26 0.55 0.67
Deferred Tax - Total 1.02 14.74 -2.93 10.73
Income Tax - Total 57.90 75.41 81.27 90.24
Interest Cost - Domestic 14.67 18.61 21.79 22.75
Service Cost - Domestic 0.16 0.14 3.39 3.29
Prior Service Cost - Domestic -- -- 0.00 0.02
Expected Return on Assets - Domestic -23.38 -24.98 -32.11 -35.80
Actuarial Gains and Losses - Domestic 1.35 1.65 3.71 4.01
Curtailments & Settlements - Domestic 8.12 -- 6.29 8.25
Domestic Pension Plan Expense 0.91 -4.58 3.07 2.52
Interest Cost - Foreign 2.76 3.74
Service Cost - Foreign 3.14 2.91
Prior Service Cost - Foreign 0.06 0.06
Expected Return on Assets - Foreign -4.22 -4.43
Curtailments & Settlements - Foreign 0.24 0.27
Other Pension, Net - Foreign 1.99 2.30
Foreign Pension Plan Expense 3.96 4.84
Defined Contribution Expense - Domestic 22.59 24.84 26.48 25.29
Total Pension Expense 27.46 25.10 29.55 27.80
Discount Rate - Domestic 3.40 4.40 3.70 4.20
Discount Rate - Foreign 1.70 2.30
Expected Rate of Return - Domestic 4.00 5.00 5.00 6.00
Expected Rate of Return - Foreign 4.10 4.50
Compensation Rate - Domestic 2.50 2.50 2.50 2.50
Compensation Rate - Foreign 2.60 2.80
Total Plan Interest Cost 17.43 22.35 21.79 22.75
Total Plan Service Cost 3.30 3.05 3.39 3.29
Total Plan Expected Return -27.59 -29.41 -32.11 -35.80
Total Plan Other Expense 1.99 2.30

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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