Fundamentals - Annual Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Net Sales 11,534.50 9,721.00 8,613.40 9,350.50 10,451.60
Revenue 11,534.50 9,721.00 8,613.40 9,350.50 10,451.60
Total Revenue 11,534.50 9,721.00 8,613.40 9,350.50 10,451.60
Cost of Revenue 8,253.00 6,933.20 6,023.10 6,803.60 7,830.60
Cost of Revenue, Total 8,253.00 6,933.20 6,023.10 6,803.60 7,830.60
Gross Profit 3,281.50 2,787.80 2,590.30 2,546.90 2,621.00
Selling/General/Administrative Expense 2,091.80 1,902.80 1,798.10 1,728.50 1,789.80
Selling/General/Administrative Expenses, Total 2,091.80 1,902.80 1,798.10 1,728.50 1,789.80
Depreciation 215.20 218.40 222.00 218.50 157.10
Amortization of Intangibles, Operating -- -- -- -- 56.70
Depreciation/Amortization 215.20 218.40 222.00 218.50 213.80
Impairment-Assets Held for Use 37.00 4.20 52.40 53.30 0.00
Unusual Expense (Income) 37.00 4.20 52.40 53.30 0.00
Total Operating Expense 10,597.00 9,058.60 8,095.60 8,803.90 9,834.20
Operating Income 937.50 662.40 517.80 546.60 617.40
Interest Expense - Non-Operating -86.20 -73.90 -84.60 -84.30 -81.90
Interest Expense, Net Non-Operating -86.20 -73.90 -84.60 -84.30 -81.90
Interest Income, Non-Operating -- -- -- 1.00 1.40
Investment Income, Non-Operating 0.60 -4.90 1.80 0.00 5.30
Interest/Investment Income, Non-Operating 0.60 -4.90 1.80 1.00 6.70
Interest Income (Expense), Net-Non-Operating, Total -85.60 -78.80 -82.80 -83.30 -75.20
Gain (Loss) on Sale of Assets -- -- -- -- --
Other Non-Operating Income (Expense) -1.30 0.20 -5.80 -4.60 4.10
Other, Net -1.30 0.20 -5.80 -4.60 4.10
Net Income Before Taxes 850.60 583.80 429.20 458.70 546.30
Income Tax – Total 205.60 170.10 120.10 142.50 170.00
Income After Tax 645.00 413.70 309.10 316.20 376.30
Minority Interest -8.10 -7.60 -4.80 -4.70 -4.80
Net Income Before Extraordinary Items 636.90 406.10 304.30 311.50 371.50
Extraordinary Item -3.20 207.30 -- -- --
Total Extraordinary Items -3.20 207.30 -- -- --
Net Income 633.70 613.40 304.30 311.50 371.50
Income Available to Common Excluding Extraordinary Items 636.90 406.10 304.30 311.50 371.50
Income Available to Common Stocks Including Extraordinary Items 633.70 613.40 304.30 311.50 371.50
Basic Weighted Average Shares 71.62 72.85 72.36 74.10 77.68
Basic EPS Excluding Extraordinary Items 8.89 5.57 4.21 4.20 4.78
Basic EPS Including Extraordinary Items 8.85 8.42 4.21 4.20 4.78
Dilution Adjustment -- -- -- 0.09 --
Diluted Net Income 633.70 613.40 304.30 311.59 371.50
Diluted Weighted Average Shares 72.44 73.54 73.12 74.90 78.62
Diluted EPS Excluding Extraordinary Items 8.79 5.52 4.16 4.16 4.73
Diluted EPS Including Extraordinary Items 8.75 8.34 4.16 4.16 4.73
DPS - Common Stock Primary Issue 2.00 1.80 1.65 1.60 1.40
Gross Dividends - Common Stock 145.40 132.50 120.50 120.10 108.70
Total Special Items 37.00 4.20 52.40 53.30 0.00
Normalized Income Before Taxes 887.60 588.00 481.60 512.00 546.30
Effect of Special Items on Income Taxes 8.94 1.22 14.66 16.56 0.00
Income Taxes Excluding Impact of Special Items 214.54 171.32 134.76 159.06 170.00
Normalized Income After Taxes 673.06 416.68 346.84 352.94 376.30
Normalized Income Available to Common 664.96 409.08 342.04 348.24 371.50
Basic Normalized EPS 9.28 5.62 4.73 4.70 4.78
Diluted Normalized EPS 9.18 5.56 4.68 4.65 4.73
Amortization of Intangibles, Supplemental 45.80 50.60 54.10 -- 56.70
Depreciation, Supplemental 169.40 167.80 167.90 218.50 157.10
Interest Expense, Supplemental 86.20 73.90 84.60 84.30 81.90
Rental Expense, Supplemental 82.70 77.90 78.90 80.00 79.30
Stock-Based Compensation, Supplemental 45.50 33.40 24.40 21.30 22.80
Equity in Affiliates, Supplemental -- -- -- 0.00 2.20
Minority Interest, Supplemental -8.10 -7.60 -4.80 -4.70 -4.80
Audit-Related Fees, Supplemental 3.53 3.49 3.65 3.55 3.21
Audit-Related Fees 0.15 0.14 0.13 0.01 0.01
Tax Fees, Supplemental 0.01 0.01 0.01 0.04 0.04
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 0.00 0.00
Gross Margin 28.45 28.68 30.07 27.24 25.08
Operating Margin 8.13 6.81 6.01 5.85 5.91
Pretax Margin 7.37 6.01 4.98 4.91 5.23
Effective Tax Rate 24.17 29.14 27.98 31.07 31.12
Net Profit Margin 5.52 4.18 3.53 3.33 3.55
Normalized EBIT 974.50 666.60 570.20 599.90 617.40
Normalized EBITDA 1,189.70 885.00 792.20 818.40 831.20
Current Tax - Domestic 150.60 108.40 91.10 129.50 153.20
Current Tax - Foreign 19.70 16.10 10.60 8.80 9.80
Current Tax - Local 47.60 21.50 18.90 21.30 25.20
Current Tax - Total 217.90 146.00 120.60 159.60 188.20
Deferred Tax - Domestic -6.00 13.90 3.00 -11.70 -18.70
Deferred Tax - Foreign -0.80 -0.90 -4.50 -0.90 2.70
Deferred Tax - Local -2.30 11.10 1.00 -4.50 -2.20
Deferred Tax - Total -9.10 24.10 -0.50 -17.10 -18.20
Other Tax -3.20 -- -- -- --
Income Tax - Total 205.60 170.10 120.10 142.50 170.00
Interest Cost - Domestic 4.60 4.80 5.50 5.00 5.30
Service Cost - Domestic 2.60 2.30 2.70 2.70 2.20
Prior Service Cost - Domestic 0.30 0.30 0.30 -0.10 -0.30
Expected Return on Assets - Domestic -5.10 -4.40 -4.60 -5.00 -5.10
Actuarial Gains and Losses - Domestic 2.30 2.40 2.90 3.30 1.10
Curtailments & Settlements - Domestic -- -- -- -- 0.00
Domestic Pension Plan Expense 4.70 5.40 6.80 5.90 3.20
Interest Cost - Post-Retirement -- -- -- -- 0.30
Service Cost - Post-Retirement -- -- -- -- 0.20
Prior Service Cost - Post-Retirement -- -- -- -- -1.70
Actuarial Gains and Losses - Post-Retirement -- -- -- -- 0.40
Post-Retirement Plan Expense -- -- -- -- -0.80
Defined Contribution Expense - Domestic 39.40 35.80 32.60 30.80 30.30
Total Pension Expense 44.10 41.20 39.40 36.70 32.70
Discount Rate - Post-Retirement -- -- -- -- 3.10
Expected Rate of Return - Domestic -- -- -- -- 7.22
Compensation Rate - Domestic -- -- -- -- 6.00
Total Plan Interest Cost 4.60 4.80 5.50 5.00 5.60
Total Plan Service Cost 2.60 2.30 2.70 2.70 2.40
Total Plan Expected Return -5.10 -4.40 -4.60 -5.00 -5.10

Copyright Thomson Reuters Corporation