Investor Relations

Income Statement

Income Statement

  Year Ending Dec 2020 Year Ending Dec 2019 Year Ending Dec 2018 Year Ending Dec 2017 Year Ending Dec 2016
Net Sales 1.59M 1.79M 1.81M 1.68M 1.64M
Revenue 1.59M 1.79M 1.81M 1.68M 1.64M
Total Revenue 1.59M 1.79M 1.81M 1.68M 1.64M
Cost of Revenue 1.19M 1.35M 1.35M 1.21M 1.18M
Cost of Revenue, Total 1.19M 1.35M 1.35M 1.21M 1.18M
Gross Profit 405.40 440.60 461.40 467.20 460.40
Selling/General/Administrative Expense 162.60 173.60 165.60 170.30 167.70
Labor & Related Expense 4.60 4.80 4.20 4.10 3.50
Selling/General/Administrative Expenses, Total 167.20 178.40 169.80 174.40 171.20
Research & Development 19.90 20.30 22.70 23.70 23.80
Amortization of Intangibles, Operating 9.30 9.10 8.80 8.00 8.20
Depreciation/Amortization 9.30 9.10 8.80 8.00 8.20
Restructuring Charge 0.20 -- -- -1.10 -2.90
Litigation 10.40 10.90 --
Impairment-Assets Held for Use 7.10 7.50 0.70 5.30 18.50
Other Unusual Expense (Income) 3.40 5.70 3.50 18.10 20.70
Unusual Expense (Income) 21.10 24.10 4.20 22.30 36.30
Total Operating Expense 1.41M 1.58M 1.55M 1.44M 1.42M
Operating Income 187.90 208.70 255.90 238.80 220.90
Interest Expense - Non-Operating -41.30 -46.60 -49.10 -45.40 -56.50
Interest Capitalized - Non-Operating 0.60 0.60 0.50 0.20 0.10
Interest Expense, Net Non-Operating -40.70 -46.00 -48.60 -45.20 -56.40
Interest Income, Non-Operating
Investment Income, Non-Operating
Interest/Investment Income, Non-Operating
Interest Income (Expense), Net Non-Operating 2.50 2.80 2.70 1.80 2.00
Interest Income (Expense), Net-Non-Operating, Total -38.20 -43.20 -45.90 -43.40 -54.40
Other Non-Operating Income (Expense) -11.70 -8.20 -5.90 -4.50 3.80
Other, Net -11.70 -8.20 -5.90 -4.50 3.80
Net Income Before Taxes 138.00 157.30 204.10 190.90 170.30
Income Tax – Total 24.40 22.80 38.80 40.40 35.30
Income After Tax 113.60 134.50 165.30 150.50 135.00
Minority Interest -3.40 -3.70 -4.20 -3.90 -3.70
Equity In Affiliates 2.20 1.90 3.50 1.50 2.10
Net Income Before Extraordinary Items 112.40 132.70 164.60 148.10 133.40
Discontinued Operations --
Extraordinary Item 4.40 47.00
Tax on Extraordinary Items --
Total Extraordinary Items 4.40 47.00 --
Net Income 112.40 132.70 169.00 195.10 133.40
Income Available to Common Excluding Extraordinary Items 112.40 132.70 164.60 148.10 133.40
Income Available to Common Stocks Including Extraordinary Items 112.40 132.70 169.00 195.10 133.40
Basic Weighted Average Shares 34.20 35.00 35.30 35.20 34.90
Basic EPS Excluding Extraordinary Items 3.29 3.79 4.66 4.21 3.82
Basic EPS Including Extraordinary Items 3.29 3.79 4.79 5.54 3.82
Dilution Adjustment
Diluted Net Income 112.40 132.70 169.00 195.10 133.40
Diluted Weighted Average Shares 34.20 35.10 35.60 35.60 35.20
Diluted EPS Excluding Extraordinary Items 3.29 3.78 4.62 4.16 3.79
Diluted EPS Including Extraordinary Items 3.29 3.78 4.75 5.48 3.79
DPS - Common Stock Primary Issue 0.20 0.20 0.20 0.20 0.20
Gross Dividends - Common Stock 6.80 7.00 7.10 7.00 7.00
Total Special Items 21.10 24.10 4.20 22.30 36.30
Normalized Income Before Taxes 159.10 181.40 208.30 213.20 206.60
Effect of Special Items on Income Taxes 3.73 3.49 0.80 4.72 7.52
Income Taxes Excluding Impact of Special Items 28.13 26.29 39.60 45.12 42.82
Normalized Income After Taxes 130.97 155.11 168.70 168.08 163.78
Normalized Income Available to Common 129.77 153.31 168.00 165.68 162.18
Basic Normalized EPS 3.79 4.38 4.76 4.71 4.65
Diluted Normalized EPS 3.79 4.37 4.72 4.65 4.61
Amortization of Intangibles, Supplemental 9.30 9.10 8.80 8.00 8.20
Depreciation, Supplemental 84.60 89.30 85.50 83.00 83.70
Interest Expense, Supplemental 40.70 46.00 48.60 45.20 56.40
Interest Capitalized, Supplemental -0.60 -0.60 -0.50 -0.20 -0.10
Rental Expense, Supplemental 15.20 16.60 19.50 19.30 16.20
Stock-Based Compensation, Supplemental 10.20 8.10 6.20 8.10 6.30
Equity in Affiliates, Supplemental 2.20 1.90 3.50 1.50 2.10
Minority Interest, Supplemental -3.40 -3.70 -4.20 -3.90 -3.70
Research & Development Expense, Supplemental 19.90 20.30 22.70 23.70 23.80
Audit-Related Fees, Supplemental 3.21 3.29 3.28 3.32
Audit-Related Fees 0.09 0.08 0.08 0.09
Tax Fees, Supplemental 0.09 0.10 0.10 0.02
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.01 0.01
Gross Margin 25.42 24.60 25.53 27.88 28.11
Operating Margin 11.78 11.65 14.16 14.25 13.49
Pretax Margin 8.65 8.78 11.29 11.39 10.40
Effective Tax Rate 17.68 14.49 19.01 21.16 20.73
Net Profit Margin 7.05 7.41 9.11 8.84 8.14
Normalized EBIT 209.00 232.80 260.10 261.10 257.20
Normalized EBITDA 302.90 331.20 354.40 352.10 349.10
Current Tax - Domestic -7.10 -3.30 0.70 11.00 18.70
Current Tax - Foreign 2.20 -6.60 11.10 -78.10 -8.80
Current Tax - Local 0.20 0.80 1.40 2.40 4.40
Current Tax - Total -4.70 -9.10 13.20 -64.70 14.30
Deferred Tax - Domestic 34.00 26.70 21.30 103.10 23.20
Deferred Tax - Foreign -4.90 5.20 4.30 2.00 -2.20
Deferred Tax - Total 29.10 31.90 25.60 105.10 21.00
Other Tax
Income Tax - Total 24.40 22.80 38.80 40.40 35.30
Interest Cost - Domestic 10.50 14.00 13.00 12.60 13.00
Service Cost - Domestic 7.70 6.80 8.10 7.90 8.20
Prior Service Cost - Domestic -- -- -- -- 0.60
Expected Return on Assets - Domestic -20.10 -18.20 -20.20 -18.70 -18.60
Actuarial Gains and Losses - Domestic 13.90 10.10 10.70 10.80 10.70
Curtailments & Settlements - Domestic 6.40 -0.10
Domestic Pension Plan Expense 18.40 12.60 11.60 12.60 13.90
Interest Cost - Post-Retirement 0.20 0.20 0.20 0.30 0.30
Service Cost - Post-Retirement 0.20 0.20 0.20 0.30 0.30
Prior Service Cost - Post-Retirement -- -- -0.90 -3.10 -3.10
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -0.90 -0.90 -0.80 -0.30 -0.20
Transition Costs - Post-Retirement -- --
Post-Retirement Plan Expense -0.50 -0.50 -1.30 -2.80 -2.70
Defined Contribution Expense - Domestic
Total Pension Expense 17.90 12.10 10.30 9.80 11.20
Discount Rate - Domestic 3.75 3.16 3.56 3.88
Discount Rate - Post-Retirement
Expected Rate of Return - Domestic 6.43 6.40 6.61 6.89
Expected Rate of Return - Post-Retirement
Compensation Rate - Domestic 3.01 3.01 3.01 3.03
Compensation Rate - Post-Retirement
Total Plan Interest Cost 10.70 14.20 13.20 12.90 13.30
Total Plan Service Cost 7.90 7.00 8.30 8.20 8.50
Total Plan Expected Return -20.10 -18.20 -20.20 -18.70 -18.60

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