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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