Investor Relations

Income Statement

Income Statement

  Year Ending Dec 2017 Year Ending Dec 2016 Year Ending Dec 2015 Year Ending Dec 2014 Year Ending Dec 2013
Net Sales 1.68M 1.64M 1.80M 1.73M 1.02M
Revenue 1.68M 1.64M 1.80M 1.73M 1.02M
Total Revenue 1.68M 1.64M 1.80M 1.73M 1.02M
Cost of Revenue 1.21M 1.18M 1.33M 1.29M 784.54
Cost of Revenue, Total 1.21M 1.18M 1.33M 1.29M 784.54
Gross Profit 467.20 460.40 471.00 435.40 233.65
Selling/General/Administrative Expense 170.30 167.70 170.40 177.40 89.23
Labor & Related Expense 4.10 3.50 4.00
Selling/General/Administrative Expenses, Total 174.40 171.20 174.40 177.40 89.23
Research & Development 23.70 23.80 23.60 24.40 20.05
Amortization of Intangibles, Operating 8.00 8.20 15.70 4.80
Depreciation/Amortization 8.00 8.20 15.70 4.80
Restructuring Charge -1.10 -2.90 -- 43.20 --
Litigation -- -- -2.30 -2.49
Impairment-Assets Held for Use 5.30 18.50 34.20
Other Unusual Expense (Income) 18.10 20.70 27.30 24.90
Unusual Expense (Income) 22.30 36.30 61.50 65.80 -2.49
Total Operating Expense 1.44M 1.42M 1.60M 1.56M 891.33
Operating Income 238.80 220.90 195.80 163.00 126.85
Interest Expense - Non-Operating -45.40 -56.50 -62.60 -45.20 -3.36
Interest Capitalized - Non-Operating 0.20 0.10 0.50 0.60 0.10
Interest Expense, Net Non-Operating -45.20 -56.40 -62.10 -44.60 -3.26
Interest Income, Non-Operating 1.70 2.80 3.02
Investment Income, Non-Operating -2.11
Interest/Investment Income, Non-Operating 1.70 2.80 0.91
Interest Income (Expense), Net Non-Operating 1.80 2.00 -0.50
Interest Income (Expense), Net-Non-Operating, Total -43.40 -54.40 -60.90 -41.80 -2.36
Other Non-Operating Income (Expense) -4.50 3.80 -2.30 1.80 -0.79
Other, Net -4.50 3.80 -2.30 1.80 -0.79
Net Income Before Taxes 190.90 170.30 132.60 123.00 123.71
Income Tax – Total 40.40 35.30 22.80 30.80 34.52
Income After Tax 150.50 135.00 109.80 92.20 89.20
Minority Interest -3.90 -3.70 -3.70 -3.10 -3.12
Equity In Affiliates 1.50 2.10 1.80 1.20
Net Income Before Extraordinary Items 148.10 133.40 107.90 90.30 86.07
Discontinued Operations -- -- 1.50 -8.44
Extraordinary Item 47.00
Tax on Extraordinary Items -- -- 0.60 2.70
Total Extraordinary Items 47.00 -- -- 2.10 -5.74
Net Income 195.10 133.40 107.90 92.40 80.33
Income Available to Common Excluding Extraordinary Items 148.10 133.40 107.90 90.30 86.07
Income Available to Common Stocks Including Extraordinary Items 195.10 133.40 107.90 92.40 80.33
Basic Weighted Average Shares 35.20 34.90 34.70 34.50 34.69
Basic EPS Excluding Extraordinary Items 4.21 3.82 3.11 2.62 2.48
Basic EPS Including Extraordinary Items 5.54 3.82 3.11 2.68 2.32
Dilution Adjustment --
Diluted Net Income 195.10 133.40 107.90 92.40 80.33
Diluted Weighted Average Shares 35.60 35.20 35.00 34.80 34.98
Diluted EPS Excluding Extraordinary Items 4.16 3.79 3.08 2.59 2.46
Diluted EPS Including Extraordinary Items 5.48 3.79 3.08 2.66 2.30
DPS - Common Stock Primary Issue 0.20 0.20 0.20 0.20 0.20
Gross Dividends - Common Stock 7.00 7.00 7.00 6.90 6.90
(Gain) Loss on Sale of Assets, Supplemental
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total
Total Special Items 22.30 36.30 61.50 65.80 -2.49
Normalized Income Before Taxes 213.20 206.60 194.10 188.80 121.22
Effect of Special Items on Income Taxes 4.72 7.52 10.57 16.48 -0.69
Income Taxes Excluding Impact of Special Items 45.12 42.82 33.37 47.28 33.82
Normalized Income After Taxes 168.08 163.78 160.73 141.52 87.40
Normalized Income Available to Common 165.68 162.18 158.83 139.62 84.28
Basic Normalized EPS 4.71 4.65 4.58 4.05 2.43
Diluted Normalized EPS 4.65 4.61 4.54 4.01 2.41
Amortization of Intangibles, Supplemental 8.00 8.20 15.70 4.80 0.60
Depreciation, Supplemental 83.00 83.70 82.60 79.60 46.69
Interest Expense, Supplemental 45.20 56.40 62.10 44.60 3.26
Interest Capitalized, Supplemental -0.20 -0.10 -0.50 -0.60 -0.10
Rental Expense, Supplemental 19.30 16.20 19.50 19.80 4.50
Stock-Based Compensation, Supplemental 8.10 6.30 11.20 5.90 5.25
Equity in Affiliates, Supplemental 1.50 2.10 1.80 1.20
Minority Interest, Supplemental -3.90 -3.70 -3.70 -3.10 -3.12
Research & Development Expense, Supplemental 23.70 23.80 23.60 24.40 20.05
Audit-Related Fees, Supplemental 3.28 3.32 3.12 3.21 1.57
Audit-Related Fees 0.08 0.09 0.09 0.09 0.07
Tax Fees, Supplemental 0.10 0.02 0.11 0.34 0.02
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.00 0.29 0.00
Gross Margin 27.88 28.11 26.20 25.24 22.95
Operating Margin 14.25 13.49 10.89 9.45 12.46
Pretax Margin 11.39 10.40 7.38 7.13 12.15
Effective Tax Rate 21.16 20.73 17.19 25.04 27.90
Net Profit Margin 8.84 8.14 6.00 5.23 8.45
Normalized EBIT 261.10 257.20 257.30 228.80 124.36
Normalized EBITDA 352.10 349.10 355.60 313.20 171.65
Current Tax - Domestic 11.00 18.70 1.40 28.10 13.70
Current Tax - Foreign -78.10 -8.80 -3.20 -15.10 2.50
Current Tax - Local 2.40 4.40 1.20 3.40 2.60
Current Tax - Total -64.70 14.30 -0.60 16.40 18.80
Deferred Tax - Domestic 103.10 23.20 22.70 20.30 13.80
Deferred Tax - Foreign 2.00 -2.20 0.70 -5.90 1.90
Deferred Tax - Total 105.10 21.00 23.40 14.40 15.70
Other Tax 0.02
Income Tax - Total 40.40 35.30 22.80 30.80 34.52
Interest Cost - Domestic 12.60 13.00 15.40 14.90 11.30
Service Cost - Domestic 7.90 8.20 10.30 8.90 8.40
Prior Service Cost - Domestic -- 0.60 0.80 1.00 1.00
Expected Return on Assets - Domestic -18.70 -18.60 -19.70 -19.40 -14.80
Actuarial Gains and Losses - Domestic 10.80 10.70 12.10 7.40 13.90
Curtailments & Settlements - Domestic -- --
Domestic Pension Plan Expense 12.60 13.90 18.90 12.80 19.80
Interest Cost - Post-Retirement 0.30 0.30 0.30 0.40 0.30
Service Cost - Post-Retirement 0.30 0.30 0.40 0.40 0.60
Prior Service Cost - Post-Retirement -3.10 -3.10 -3.10 -3.10 -3.10
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -0.30 -0.20 -0.10 -0.20 --
Transition Costs - Post-Retirement -- --
Post-Retirement Plan Expense -2.80 -2.70 -2.50 -2.50 -2.20
Defined Contribution Expense - Domestic 6.30 2.90 2.80
Total Pension Expense 9.80 11.20 22.70 13.20 20.40
Discount Rate - Domestic 3.56 3.88 3.71 4.39 3.80
Discount Rate - Post-Retirement 4.39 3.80
Expected Rate of Return - Domestic 6.61 6.89 6.89 7.34 7.18
Expected Rate of Return - Post-Retirement 7.34 7.18
Compensation Rate - Domestic 3.01 3.03 3.04 3.08 3.16
Compensation Rate - Post-Retirement 3.08 3.16
Total Plan Interest Cost 12.90 13.30 15.70 15.30 11.60
Total Plan Service Cost 8.20 8.50 10.70 9.30 9.00
Total Plan Expected Return -18.70 -18.60 -19.70 -19.40 -14.80

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