Income Statement

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	Year Ending Dec 2019 (Update)	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)
Net Sales	3.00M	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M
Revenue	3.00M	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M
Total Revenue	3.00M	3.03M	2.62M	2.27M	2.54M	2.81M	2.85M	2.85M	2.69M	2.07M
Cost of Revenue	2.00M	2.00M	1.75M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M
Cost of Revenue, Total	2.00M	2.00M	1.75M	1.49M	1.69M	1.86M	1.91M	1.99M	1.96M	1.51M
Gross Profit	1.00M	1.03M	875.11	789.30	841.14	949.30	942.65	866.66	736.74	563.82
Selling/General/Administrative Expense	447.62	437.39	372.69	397.12	424.67	490.32	477.11	437.22	439.78	377.77
Labor & Related Expense	100.38	123.80	97.39
Advertising Expense								12.38
Selling/General/Administrative Expenses, Total	548.00	561.19	470.08	397.12	424.67	490.32	477.11	449.60	439.78	377.77
Research & Development	56.85	54.17	47.90	44.72	47.18	43.26	42.13	37.31
Investment Income - Operating	18.45	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Interest/Investment Income - Operating	18.45	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Interest Expense (Income), Net-Operating, Total	18.45	12.34	23.24	24.84	24.90	11.92	7.97	8.32
Loss (Gain) on Sale of Assets - Operating	-3.05
Other Unusual Expense (Income)	5.78	25.29	-43.06	34.35	162.70	30.05	8.46	9.35	0.28	-0.38
Unusual Expense (Income)	2.74	25.29	-43.06	34.35	162.70	30.05	8.46	9.35	0.28	-0.38
Total Operating Expense	2.62M	2.65M	2.25M	1.99M	2.35M	2.44M	2.45M	2.49M	2.40M	1.88M
Operating Income	378.51	375.54	376.94	288.27	181.70	373.75	406.99	362.08	296.68	186.43
Interest Expense - Non-Operating	-25.94	-24.50	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69
Interest Expense, Net Non-Operating	-25.94	-24.50	-24.22	-19.08	-21.82	-10.43	-2.86	-4.19	-6.70	-6.69
Interest Income, Non-Operating	2.53	6.94	4.79	2.09	2.71	3.09	3.32	3.99	3.12	2.38
Investment Income, Non-Operating	3.16	5.48	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17
Interest/Investment Income, Non-Operating	5.69	12.42	7.53	5.02	5.73	8.51	8.13	9.00	8.51	5.55
Interest Income (Expense), Net-Non-Operating, Total	-20.25	-12.08	-16.69	-14.06	-16.10	-1.93	5.26	4.80	1.80	-1.14
Other Non-Operating Income (Expense)	10.23	5.21	5.98	3.17	4.18	4.00	4.19	2.69	2.85	1.82
Other, Net	10.23	5.21	5.98	3.17	4.18	4.00	4.19	2.69	2.85	1.82
Net Income Before Taxes	368.49	368.66	366.24	277.39	169.79	375.81	416.44	369.57	301.33	187.11
Income Tax – Total	75.41	81.27	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90
Income After Tax	293.08	287.39	276.00	198.37	127.41	253.88	291.69	257.22	217.01	132.21
Minority Interest	0.03	0.07	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97
Net Income Before Extraordinary Items	293.11	287.47	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24
Extraordinary Item	--	-0.40	-28.52
Total Extraordinary Items	--	-0.40	-28.52
Net Income	293.11	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24
Income Available to Common Excluding Extraordinary Items	293.11	287.47	276.03	198.40	127.48	254.69	293.78	257.41	217.19	130.24
Income Available to Common Stocks Including Extraordinary Items	293.11	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24
Basic Weighted Average Shares	61.96	64.89	65.74	67.46	74.11	79.19	81.98	83.09	83.68	84.41
Basic EPS Excluding Extraordinary Items	4.73	4.43	4.20	2.94	1.72	3.22	3.58	3.10	2.60	1.54
Basic EPS Including Extraordinary Items	4.73	4.42	3.76	2.94	1.72	3.22	3.58	3.10	2.60	1.54
Dilution Adjustment								--
Diluted Net Income	293.11	287.07	247.50	198.40	127.48	254.69	293.78	257.41	217.19	130.24
Diluted Weighted Average Shares	62.66	65.68	66.64	68.16	74.85	80.10	83.04	84.18	84.71	85.22
Diluted EPS Excluding Extraordinary Items	4.68	4.38	4.14	2.91	1.70	3.18	3.54	3.06	2.56	1.53
Diluted EPS Including Extraordinary Items	4.68	4.37	3.71	2.91	1.70	3.18	3.54	3.06	2.56	1.53
DPS - Common Stock Primary Issue	1.88	1.56	1.40	1.28	1.16	0.92	0.80	0.68	0.64	0.58
Gross Dividends - Common Stock	117.95	106.80	87.81	88.17	87.81	76.97	67.99	59.14	53.35	48.70
(Gain) Loss on Sale of Assets, Supplemental					6.32	3.93	0.86		--	--
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
Non-Recurring Items, Total	--				26.35	59.05	21.68	3.22	--	-0.19
Total Special Items	2.74	25.29	-43.06	34.35	189.05	89.10	30.14	12.58	0.28	-0.57
Normalized Income Before Taxes	371.23	393.95	323.18	311.74	358.83	464.91	446.58	382.15	301.61	186.54
Effect of Special Items on Income Taxes	7.39	5.57	-10.61	9.78	47.18	28.91	9.03	3.82	0.08	-0.07
Income Taxes Excluding Impact of Special Items	82.80	86.84	79.63	88.80	89.56	150.84	133.78	116.18	84.40	54.83
Normalized Income After Taxes	288.44	307.10	243.55	222.94	269.28	314.07	312.80	265.97	217.22	131.71
Normalized Income Available to Common	288.46	307.18	243.57	222.96	269.34	314.88	314.89	266.16	217.39	129.75
Basic Normalized EPS	4.66	4.73	3.71	3.31	3.63	3.98	3.84	3.20	2.60	1.54
Diluted Normalized EPS	4.60	4.68	3.65	3.27	3.60	3.93	3.79	3.16	2.57	1.52
Amortization of Intangibles, Supplemental	20.76	15.74	15.67	14.53	13.30	13.87	13.34	10.64	6.66	5.39
Depreciation, Supplemental	60.73	56.60	52.44	50.55	50.71	55.74	55.54	54.69	55.39	51.97
Interest Expense, Supplemental	25.94	24.50	24.22	19.08	21.82	10.43	2.86	4.19	6.70	6.69
Rental Expense, Supplemental	25.39	25.72	20.45	16.90	16.70	18.10	18.64	17.75	15.22	14.16
Stock-Based Compensation, Supplemental	16.62	18.55	12.70	10.33	7.93	8.42	9.73	8.96	6.61	8.21
Advertising Expense, Supplemental								12.38	11.27	9.22
Equity in Affiliates, Supplemental	3.16	5.48	2.74	2.93	3.02	5.41	4.81	5.01	5.39	3.17
Minority Interest, Supplemental	0.03	0.07	0.03	0.03	0.07	0.81	2.09	0.20	0.17	-1.97
Research & Development Expense, Supplemental	56.85	54.17	47.90	44.72	47.18	43.26	42.13	37.31	32.83	29.49
Audit-Related Fees, Supplemental		3.32	3.47	3.08	3.14	3.35	3.06	3.01	3.02	2.61
Audit-Related Fees		0.07	0.01	0.01	0.09	0.28	0.28	0.51	0.43	0.16
Tax Fees, Supplemental		0.44	0.24	0.18	0.12	0.15	0.13	0.20	0.18	0.19
All Other Fees Paid to Auditor, Supplemental		--	--	--	--	--	0.12		--	--
Gross Margin	33.45	33.96	33.34	34.70	33.17	33.74	33.04	30.37	27.34	27.24
Operating Margin	12.60	12.40	14.36	12.67	7.17	13.28	14.27	12.69	11.01	9.01
Pretax Margin	12.27	12.17	13.95	12.19	6.70	13.36	14.60	12.95	11.18	9.04
Effective Tax Rate	20.46	22.04	24.64	28.49	24.96	32.45	29.96	30.40	27.98	29.34
Net Profit Margin	9.76	9.49	10.52	8.72	5.03	9.05	10.30	9.02	8.06	6.29
Normalized EBIT	399.69	413.16	357.13	347.46	395.64	474.77	445.10	382.98	296.96	185.86
Normalized EBITDA	481.18	485.51	425.24	412.53	459.65	544.38	513.98	448.31	359.01	243.22
Current Tax - Domestic	25.06	44.79	46.13	57.09	60.50	71.60	58.10	72.81	42.51	30.64
Current Tax - Foreign	26.54	28.89	25.75	23.34	28.05	24.21	40.35	33.51	19.97	15.53
Current Tax - Local	9.06	10.52	7.64	8.39	9.56	8.24	8.49	8.17	6.70	4.34
Current Tax - Total	60.67	84.20	79.51	88.82	98.10	104.05	106.94	114.49	69.18	50.51
Deferred Tax - Domestic	6.97	-0.36	10.14	-1.72	-47.90	15.18	21.95	-1.67	12.14	6.80
Deferred Tax - Foreign	6.51	-3.12	-0.08	-8.26	-3.36	1.37	-5.73	-0.75	2.77	-2.64
Deferred Tax - Local	1.26	0.55	0.67	0.17	-4.46	1.34	1.61	0.29	0.23	0.23
Deferred Tax - Total	14.74	-2.93	10.73	-9.81	-55.73	17.89	17.82	-2.14	15.14	4.39
Income Tax - Total	75.41	81.27	90.24	79.02	42.38	121.93	124.75	112.35	84.32	54.90
Interest Cost - Domestic	18.61	21.79	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73
Service Cost - Domestic	0.14	3.39	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37
Prior Service Cost - Domestic	--	0.00	0.02	-0.39	-0.63	-0.62	-0.61	-0.09	-0.06	-0.04
Expected Return on Assets - Domestic	-24.98	-32.11	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42
Actuarial Gains and Losses - Domestic	1.65	3.71	4.01	9.89	19.41	17.64	30.93	31.09	21.82	20.83
Curtailments & Settlements - Domestic	--	6.29	8.25	-1.06	142.74	1.77	0.42	0.90	0.53	0.66
Domestic Pension Plan Expense	-4.58	3.07	2.52	13.99	162.82	12.40	29.91	36.26	26.37	29.12
Interest Cost - Foreign	3.74
Service Cost - Foreign	2.91
Prior Service Cost - Foreign	0.06
Expected Return on Assets - Foreign	-4.43
Curtailments & Settlements - Foreign	0.27
Other Pension, Net - Foreign	2.30
Foreign Pension Plan Expense	4.84
Defined Contribution Expense - Domestic	24.84	26.48	25.29	8.36	10.91	12.16	11.86	10.38	9.44	8.09
Total Pension Expense	25.10	29.55	27.80	22.35	173.73	24.55	41.77	46.64	35.81	37.21
Discount Rate - Domestic	4.40	3.70	4.20	4.50	4.00	4.70	3.80	4.20	5.30	5.80
Discount Rate - Foreign	2.30
Expected Rate of Return - Domestic	5.00	5.00	6.00	6.10	6.30	7.30	7.40	7.70	7.90	7.90
Expected Rate of Return - Foreign	4.50
Compensation Rate - Domestic	2.50	2.50	2.50	2.70	2.70	4.10	4.10	4.00	4.00	4.00
Compensation Rate - Foreign	2.80
Total Plan Interest Cost	22.35	21.79	22.75	23.58	36.00	42.49	37.23	41.58	44.16	42.73
Total Plan Service Cost	3.05	3.39	3.29	17.69	19.93	19.06	23.19	21.54	17.33	15.37
Total Plan Expected Return	-29.41	-32.11	-35.80	-35.72	-54.64	-67.95	-61.24	-58.75	-57.41	-50.42
Total Plan Other Expense	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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Income Statement

Income Statement