Investor Relations

Income Statement

Income Statement

  Year Ending Dec 2018 Year Ending Dec 2017 Year Ending Dec 2016 Year Ending Dec 2015 Year Ending Dec 2014
Net Sales 1.81M 1.68M 1.64M 1.80M 1.73M
Revenue 1.81M 1.68M 1.64M 1.80M 1.73M
Total Revenue 1.81M 1.68M 1.64M 1.80M 1.73M
Cost of Revenue 1.35M 1.21M 1.18M 1.33M 1.29M
Cost of Revenue, Total 1.35M 1.21M 1.18M 1.33M 1.29M
Gross Profit 461.40 467.20 460.40 471.00 435.40
Selling/General/Administrative Expense 178.60 170.30 167.70 170.40 177.40
Labor & Related Expense 4.10 3.50 4.00
Selling/General/Administrative Expenses, Total 178.60 174.40 171.20 174.40 177.40
Research & Development 22.70 23.70 23.80 23.60 24.40
Amortization of Intangibles, Operating 8.00 8.20 15.70 4.80
Depreciation/Amortization 8.00 8.20 15.70 4.80
Restructuring Charge 2.50 -1.10 -2.90 -- 43.20
Litigation -- -- -2.30
Impairment-Assets Held for Use 5.30 18.50 34.20
Other Unusual Expense (Income) 1.70 18.10 20.70 27.30 24.90
Unusual Expense (Income) 4.20 22.30 36.30 61.50 65.80
Total Operating Expense 1.55M 1.44M 1.42M 1.60M 1.56M
Operating Income 255.90 238.80 220.90 195.80 163.00
Interest Expense - Non-Operating -45.40 -56.50 -62.60 -45.20
Interest Capitalized - Non-Operating 0.20 0.10 0.50 0.60
Interest Expense, Net Non-Operating -45.20 -56.40 -62.10 -44.60
Interest Income, Non-Operating 1.70 2.80
Investment Income, Non-Operating
Interest/Investment Income, Non-Operating 1.70 2.80
Interest Income (Expense), Net Non-Operating -45.90 1.80 2.00 -0.50
Interest Income (Expense), Net-Non-Operating, Total -45.90 -43.40 -54.40 -60.90 -41.80
Other Non-Operating Income (Expense) -5.90 -4.50 3.80 -2.30 1.80
Other, Net -5.90 -4.50 3.80 -2.30 1.80
Net Income Before Taxes 204.10 190.90 170.30 132.60 123.00
Income Tax – Total 34.40 40.40 35.30 22.80 30.80
Income After Tax 169.70 150.50 135.00 109.80 92.20
Minority Interest -4.20 -3.90 -3.70 -3.70 -3.10
Equity In Affiliates 3.50 1.50 2.10 1.80 1.20
Net Income Before Extraordinary Items 169.00 148.10 133.40 107.90 90.30
Discontinued Operations -- -- 1.50
Extraordinary Item 47.00
Tax on Extraordinary Items -- -- 0.60
Total Extraordinary Items 47.00 -- -- 2.10
Net Income 169.00 195.10 133.40 107.90 92.40
Income Available to Common Excluding Extraordinary Items 169.00 148.10 133.40 107.90 90.30
Income Available to Common Stocks Including Extraordinary Items 169.00 195.10 133.40 107.90 92.40
Basic Weighted Average Shares 35.30 35.20 34.90 34.70 34.50
Basic EPS Excluding Extraordinary Items 4.79 4.21 3.82 3.11 2.62
Basic EPS Including Extraordinary Items 4.79 5.54 3.82 3.11 2.68
Dilution Adjustment
Diluted Net Income 169.00 195.10 133.40 107.90 92.40
Diluted Weighted Average Shares 35.60 35.60 35.20 35.00 34.80
Diluted EPS Excluding Extraordinary Items 4.75 4.16 3.79 3.08 2.59
Diluted EPS Including Extraordinary Items 4.75 5.48 3.79 3.08 2.66
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
(Gain) Loss on Sale of Assets, Supplemental
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total
Total Special Items 4.20 22.30 36.30 61.50 65.80
Normalized Income Before Taxes 208.30 213.20 206.60 194.10 188.80
Effect of Special Items on Income Taxes 0.71 4.72 7.52 10.57 16.48
Income Taxes Excluding Impact of Special Items 35.11 45.12 42.82 33.37 47.28
Normalized Income After Taxes 173.19 168.08 163.78 160.73 141.52
Normalized Income Available to Common 172.49 165.68 162.18 158.83 139.62
Basic Normalized EPS 4.89 4.71 4.65 4.58 4.05
Diluted Normalized EPS 4.85 4.65 4.61 4.54 4.01
Amortization of Intangibles, Supplemental 8.00 8.20 15.70 4.80
Depreciation, Supplemental 83.00 83.70 82.60 79.60
Interest Expense, Supplemental 45.20 56.40 62.10 44.60
Interest Capitalized, Supplemental -0.20 -0.10 -0.50 -0.60
Rental Expense, Supplemental 19.30 16.20 19.50 19.80
Stock-Based Compensation, Supplemental 8.10 6.30 11.20 5.90
Equity in Affiliates, Supplemental 3.50 1.50 2.10 1.80 1.20
Minority Interest, Supplemental -4.20 -3.90 -3.70 -3.70 -3.10
Research & Development Expense, Supplemental 22.70 23.70 23.80 23.60 24.40
Audit-Related Fees, Supplemental 3.28 3.32 3.12 3.21
Audit-Related Fees 0.08 0.09 0.09 0.09
Tax Fees, Supplemental 0.10 0.02 0.11 0.34
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.00 0.29
Gross Margin 25.53 27.88 28.11 26.20 25.24
Operating Margin 14.16 14.25 13.49 10.89 9.45
Pretax Margin 11.29 11.39 10.40 7.38 7.13
Effective Tax Rate 16.85 21.16 20.73 17.19 25.04
Net Profit Margin 9.35 8.84 8.14 6.00 5.23
Normalized EBIT 260.10 261.10 257.20 257.30 228.80
Normalized EBITDA 352.10 349.10 355.60 313.20
Current Tax - Domestic 11.00 18.70 1.40 28.10
Current Tax - Foreign -78.10 -8.80 -3.20 -15.10
Current Tax - Local 2.40 4.40 1.20 3.40
Current Tax - Total -64.70 14.30 -0.60 16.40
Deferred Tax - Domestic 103.10 23.20 22.70 20.30
Deferred Tax - Foreign 2.00 -2.20 0.70 -5.90
Deferred Tax - Total 105.10 21.00 23.40 14.40
Other Tax
Income Tax - Total 40.40 35.30 22.80 30.80
Interest Cost - Domestic 12.60 13.00 15.40 14.90
Service Cost - Domestic 7.90 8.20 10.30 8.90
Prior Service Cost - Domestic -- 0.60 0.80 1.00
Expected Return on Assets - Domestic -18.70 -18.60 -19.70 -19.40
Actuarial Gains and Losses - Domestic 10.80 10.70 12.10 7.40
Curtailments & Settlements - Domestic --
Domestic Pension Plan Expense 12.60 13.90 18.90 12.80
Interest Cost - Post-Retirement 0.30 0.30 0.30 0.40
Service Cost - Post-Retirement 0.30 0.30 0.40 0.40
Prior Service Cost - Post-Retirement -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
Defined Contribution Expense - Domestic 6.30 2.90
Total Pension Expense 9.80 11.20 22.70 13.20
Discount Rate - Domestic 3.56 3.88 3.71 4.39
Discount Rate - Post-Retirement 4.39
Expected Rate of Return - Domestic 6.61 6.89 6.89 7.34
Expected Rate of Return - Post-Retirement 7.34
Compensation Rate - Domestic 3.01 3.03 3.04 3.08
Compensation Rate - Post-Retirement 3.08
Total Plan Interest Cost 12.90 13.30 15.70 15.30
Total Plan Service Cost 8.20 8.50 10.70 9.30
Total Plan Expected Return -18.70 -18.60 -19.70 -19.40

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