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Income Statement

Income Statement

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update)
Net Sales 3.23M 2.66M 3.00M 3.03M
Revenue 3.23M 2.66M 3.00M 3.03M
Total Revenue 3.23M 2.66M 3.00M 3.03M
Cost of Revenue 2.16M 1.78M 2.00M 2.00M
Cost of Revenue, Total 2.16M 1.78M 2.00M 2.00M
Gross Profit 1.07M 872.15 1.00M 1.03M
Selling/General/Administrative Expense 409.49 397.59 447.62 437.39
Labor & Related Expense 120.69 87.41 100.38 123.80
Advertising Expense
Selling/General/Administrative Expenses, Total 530.18 485.00 548.00 561.19
Research & Development 55.97 51.41 56.85 54.17
Investment Income - Operating 9.04 7.39 18.45 12.34
Interest/Investment Income - Operating 9.04 7.39 18.45 12.34
Interest Expense (Income), Net-Operating, Total 9.04 7.39 18.45 12.34
Restructuring Charge 9.83
Loss (Gain) on Sale of Assets - Operating -- -3.05
Other Unusual Expense (Income) 134.23 46.27 5.78 25.29
Unusual Expense (Income) 144.06 46.27 2.74 25.29
Total Operating Expense 2.90M 2.37M 2.62M 2.65M
Operating Income 335.17 282.07 378.51 375.54
Interest Expense - Non-Operating -23.78 -23.96 -25.94 -24.50
Interest Expense, Net Non-Operating -23.78 -23.96 -25.94 -24.50
Interest Income, Non-Operating 1.57 1.99 2.53 6.94
Investment Income, Non-Operating 0.50 0.41 3.16 5.48
Interest/Investment Income, Non-Operating 2.07 2.39 5.69 12.42
Interest Income (Expense), Net-Non-Operating, Total -21.72 -21.57 -20.25 -12.08
Other Non-Operating Income (Expense) 11.55 3.53 10.23 5.21
Other, Net 11.55 3.53 10.23 5.21
Net Income Before Taxes 325.00 264.04 368.49 368.66
Income Tax – Total 48.42 57.90 75.41 81.27
Income After Tax 276.58 206.14 293.08 287.39
Minority Interest -0.11 -0.03 0.03 0.07
Net Income Before Extraordinary Items 276.47 206.12 293.11 287.47
Extraordinary Item -- -0.40
Total Extraordinary Items -- -0.40
Net Income 276.47 206.12 293.11 287.07
Income Available to Common Excluding Extraordinary Items 276.47 206.12 293.11 287.47
Income Available to Common Stocks Including Extraordinary Items 276.47 206.12 293.11 287.07
Basic Weighted Average Shares 59.31 59.63 61.96 64.89
Basic EPS Excluding Extraordinary Items 4.66 3.46 4.73 4.43
Basic EPS Including Extraordinary Items 4.66 3.46 4.73 4.42
Dilution Adjustment
Diluted Net Income 276.47 206.12 293.11 287.07
Diluted Weighted Average Shares 60.06 60.25 62.66 65.68
Diluted EPS Excluding Extraordinary Items 4.60 3.42 4.68 4.38
Diluted EPS Including Extraordinary Items 4.60 3.42 4.68 4.37
DPS - Common Stock Primary Issue 2.04 1.96 1.88 1.56
Gross Dividends - Common Stock 124.67 118.42 117.95 106.80
(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 144.06 54.39 2.74 25.29
Normalized Income Before Taxes 469.05 318.43 371.23 393.95
Effect of Special Items on Income Taxes 47.19 10.59 7.39 5.57
Income Taxes Excluding Impact of Special Items 95.61 68.49 82.80 86.84
Normalized Income After Taxes 373.45 249.94 288.44 307.10
Normalized Income Available to Common 373.33 249.91 288.46 307.18
Basic Normalized EPS 6.29 4.19 4.66 4.73
Diluted Normalized EPS 6.22 4.15 4.60 4.68
Amortization of Intangibles, Supplemental 21.16 20.36 20.76 15.74
Depreciation, Supplemental 59.99 60.13 60.73 56.60
Interest Expense, Supplemental 23.78 23.96 25.94 24.50
Rental Expense, Supplemental 21.63 23.50 25.39 25.72
Stock-Based Compensation, Supplemental 23.79 15.39 16.62 18.55
Advertising Expense, Supplemental
Equity in Affiliates, Supplemental 0.50 0.41 3.16 5.48
Minority Interest, Supplemental -0.11 -0.03 0.03 0.07
Research & Development Expense, Supplemental 55.97 51.41 56.85 54.17
Audit-Related Fees, Supplemental 2.46 2.71 3.03 3.32
Audit-Related Fees 0.40 0.06 0.07
Tax Fees, Supplemental 0.44 0.45 0.18 0.44
All Other Fees Paid to Auditor, Supplemental -- -- --
Gross Margin 33.22 32.84 33.45 33.96
Operating Margin 10.36 10.62 12.60 12.40
Pretax Margin 10.05 9.94 12.27 12.17
Effective Tax Rate 14.90 21.93 20.46 22.04
Net Profit Margin 8.55 7.76 9.76 9.49
Normalized EBIT 488.26 343.85 399.69 413.16
Normalized EBITDA 569.41 424.35 481.18 485.51
Current Tax - Domestic 23.42 30.09 25.06 44.79
Current Tax - Foreign 44.83 18.02 26.54 28.89
Current Tax - Local 10.30 8.77 9.06 10.52
Current Tax - Total 78.54 56.88 60.67 84.20
Deferred Tax - Domestic -21.54 -1.90 6.97 -0.36
Deferred Tax - Foreign -4.49 3.20 6.51 -3.12
Deferred Tax - Local -4.10 -0.28 1.26 0.55
Deferred Tax - Total -30.12 1.02 14.74 -2.93
Income Tax - Total 48.42 57.90 75.41 81.27
Interest Cost - Domestic 8.93 14.67 18.61 21.79
Service Cost - Domestic 0.19 0.16 0.14 3.39
Prior Service Cost - Domestic -- -- -- 0.00
Expected Return on Assets - Domestic 13.05 -23.38 -24.98 -32.11
Actuarial Gains and Losses - Domestic 1.97 1.35 1.65 3.71
Curtailments & Settlements - Domestic 126.06 8.12 -- 6.29
Domestic Pension Plan Expense 150.19 0.91 -4.58 3.07
Interest Cost - Foreign 2.57 2.76 3.74
Service Cost - Foreign 1.41 3.14 2.91
Prior Service Cost - Foreign 0.01 0.06 0.06
Expected Return on Assets - Foreign -3.99 -4.22 -4.43
Curtailments & Settlements - Foreign 0.04 0.24 0.27
Other Pension, Net - Foreign 0.88 1.99 2.30
Foreign Pension Plan Expense 0.92 3.96 4.84
Defined Contribution Expense - Domestic 26.28 22.59 24.84 26.48
Total Pension Expense 177.39 27.46 25.10 29.55
Discount Rate - Domestic 2.20 3.40 4.40 3.70
Discount Rate - Foreign 1.30 1.70 2.30
Expected Rate of Return - Domestic 3.00 4.00 5.00 5.00
Expected Rate of Return - Foreign 3.30 4.10 4.50
Compensation Rate - Domestic 2.50 2.50 2.50 2.50
Compensation Rate - Foreign 2.70 2.60 2.80
Total Plan Interest Cost 11.49 17.43 22.35 21.79
Total Plan Service Cost 1.61 3.30 3.05 3.39
Total Plan Expected Return 9.06 -27.59 -29.41 -32.11
Total Plan Other Expense 0.88 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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