Investor Relations

Income Statement

Income Statement

  Year Ending Dec 2019 Year Ending Dec 2018 Year Ending Dec 2017 Year Ending Dec 2016 Year Ending Dec 2015
Net Sales 1.79M 1.81M 1.68M 1.64M 1.80M
Revenue 1.79M 1.81M 1.68M 1.64M 1.80M
Total Revenue 1.79M 1.81M 1.68M 1.64M 1.80M
Cost of Revenue 1.35M 1.35M 1.21M 1.18M 1.33M
Cost of Revenue, Total 1.35M 1.35M 1.21M 1.18M 1.33M
Gross Profit 440.60 461.40 467.20 460.40 471.00
Selling/General/Administrative Expense 173.60 165.60 170.30 167.70 170.40
Labor & Related Expense 4.80 4.20 4.10 3.50 4.00
Selling/General/Administrative Expenses, Total 178.40 169.80 174.40 171.20 174.40
Research & Development 20.30 22.70 23.70 23.80 23.60
Amortization of Intangibles, Operating 9.10 8.80 8.00 8.20 15.70
Depreciation/Amortization 9.10 8.80 8.00 8.20 15.70
Restructuring Charge -- -- -1.10 -2.90 --
Litigation 10.90 -- --
Impairment-Assets Held for Use 7.50 0.70 5.30 18.50 34.20
Other Unusual Expense (Income) 5.70 3.50 18.10 20.70 27.30
Unusual Expense (Income) 24.10 4.20 22.30 36.30 61.50
Total Operating Expense 1.58M 1.55M 1.44M 1.42M 1.60M
Operating Income 208.70 255.90 238.80 220.90 195.80
Interest Expense - Non-Operating -46.60 -49.10 -45.40 -56.50 -62.60
Interest Capitalized - Non-Operating 0.60 0.50 0.20 0.10 0.50
Interest Expense, Net Non-Operating -46.00 -48.60 -45.20 -56.40 -62.10
Interest Income, Non-Operating 1.70
Investment Income, Non-Operating
Interest/Investment Income, Non-Operating 1.70
Interest Income (Expense), Net Non-Operating 2.80 2.70 1.80 2.00 -0.50
Interest Income (Expense), Net-Non-Operating, Total -43.20 -45.90 -43.40 -54.40 -60.90
Other Non-Operating Income (Expense) -8.20 -5.90 -4.50 3.80 -2.30
Other, Net -8.20 -5.90 -4.50 3.80 -2.30
Net Income Before Taxes 157.30 204.10 190.90 170.30 132.60
Income Tax – Total 22.80 38.80 40.40 35.30 22.80
Income After Tax 134.50 165.30 150.50 135.00 109.80
Minority Interest -3.70 -4.20 -3.90 -3.70 -3.70
Equity In Affiliates 1.90 3.50 1.50 2.10 1.80
Net Income Before Extraordinary Items 132.70 164.60 148.10 133.40 107.90
Discontinued Operations -- --
Extraordinary Item 4.40 47.00
Tax on Extraordinary Items -- --
Total Extraordinary Items 4.40 47.00 -- --
Net Income 132.70 169.00 195.10 133.40 107.90
Income Available to Common Excluding Extraordinary Items 132.70 164.60 148.10 133.40 107.90
Income Available to Common Stocks Including Extraordinary Items 132.70 169.00 195.10 133.40 107.90
Basic Weighted Average Shares 35.00 35.30 35.20 34.90 34.70
Basic EPS Excluding Extraordinary Items 3.79 4.66 4.21 3.82 3.11
Basic EPS Including Extraordinary Items 3.79 4.79 5.54 3.82 3.11
Dilution Adjustment
Diluted Net Income 132.70 169.00 195.10 133.40 107.90
Diluted Weighted Average Shares 35.10 35.60 35.60 35.20 35.00
Diluted EPS Excluding Extraordinary Items 3.78 4.62 4.16 3.79 3.08
Diluted EPS Including Extraordinary Items 3.78 4.75 5.48 3.79 3.08
DPS - Common Stock Primary Issue 0.20 0.20 0.20 0.20 0.20
Gross Dividends - Common Stock 7.00 7.10 7.00 7.00 7.00
(Gain) Loss on Sale of Assets, Supplemental
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total
Total Special Items 24.10 4.20 22.30 36.30 61.50
Normalized Income Before Taxes 181.40 208.30 213.20 206.60 194.10
Effect of Special Items on Income Taxes 3.49 0.80 4.72 7.52 10.57
Income Taxes Excluding Impact of Special Items 26.29 39.60 45.12 42.82 33.37
Normalized Income After Taxes 155.11 168.70 168.08 163.78 160.73
Normalized Income Available to Common 153.31 168.00 165.68 162.18 158.83
Basic Normalized EPS 4.38 4.76 4.71 4.65 4.58
Diluted Normalized EPS 4.37 4.72 4.65 4.61 4.54
Amortization of Intangibles, Supplemental 9.10 8.80 8.00 8.20 7.90
Depreciation, Supplemental 89.30 85.50 83.00 83.70 90.40
Interest Expense, Supplemental 46.00 48.60 45.20 56.40 62.10
Interest Capitalized, Supplemental -0.60 -0.50 -0.20 -0.10 -0.50
Rental Expense, Supplemental 16.60 19.50 19.30 16.20 19.50
Stock-Based Compensation, Supplemental 8.10 6.20 8.10 6.30 11.20
Equity in Affiliates, Supplemental 1.90 3.50 1.50 2.10 1.80
Minority Interest, Supplemental -3.70 -4.20 -3.90 -3.70 -3.70
Research & Development Expense, Supplemental 20.30 22.70 23.70 23.80 23.60
Audit-Related Fees, Supplemental 3.29 3.28 3.32 3.12
Audit-Related Fees 0.08 0.08 0.09 0.09
Tax Fees, Supplemental 0.10 0.10 0.02 0.11
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.01 0.00
Gross Margin 24.60 25.53 27.88 28.11 26.20
Operating Margin 11.65 14.16 14.25 13.49 10.89
Pretax Margin 8.78 11.29 11.39 10.40 7.38
Effective Tax Rate 14.49 19.01 21.16 20.73 17.19
Net Profit Margin 7.41 9.11 8.84 8.14 6.00
Normalized EBIT 232.80 260.10 261.10 257.20 257.30
Normalized EBITDA 331.20 354.40 352.10 349.10 355.60
Current Tax - Domestic -3.30 0.70 11.00 18.70 1.40
Current Tax - Foreign -6.60 11.10 -78.10 -8.80 -3.20
Current Tax - Local 0.80 1.40 2.40 4.40 1.20
Current Tax - Total -9.10 13.20 -64.70 14.30 -0.60
Deferred Tax - Domestic 26.70 21.30 103.10 23.20 22.70
Deferred Tax - Foreign 5.20 4.30 2.00 -2.20 0.70
Deferred Tax - Total 31.90 25.60 105.10 21.00 23.40
Other Tax
Income Tax - Total 22.80 38.80 40.40 35.30 22.80
Interest Cost - Domestic 14.00 13.00 12.60 13.00 15.40
Service Cost - Domestic 6.80 8.10 7.90 8.20 10.30
Prior Service Cost - Domestic -- -- -- 0.60 0.80
Expected Return on Assets - Domestic -18.20 -20.20 -18.70 -18.60 -19.70
Actuarial Gains and Losses - Domestic 10.10 10.70 10.80 10.70 12.10
Curtailments & Settlements - Domestic -0.10
Domestic Pension Plan Expense 12.60 11.60 12.60 13.90 18.90
Interest Cost - Post-Retirement 0.20 0.20 0.30 0.30 0.30
Service Cost - Post-Retirement 0.20 0.20 0.30 0.30 0.40
Prior Service Cost - Post-Retirement -- -0.90 -3.10 -3.10 -3.10
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -0.90 -0.80 -0.30 -0.20 -0.10
Transition Costs - Post-Retirement --
Post-Retirement Plan Expense -0.50 -1.30 -2.80 -2.70 -2.50
Defined Contribution Expense - Domestic 6.30
Total Pension Expense 12.10 10.30 9.80 11.20 22.70
Discount Rate - Domestic 3.75 3.16 3.56 3.88 3.71
Discount Rate - Post-Retirement
Expected Rate of Return - Domestic 6.43 6.40 6.61 6.89 6.89
Expected Rate of Return - Post-Retirement
Compensation Rate - Domestic 3.01 3.01 3.01 3.03 3.04
Compensation Rate - Post-Retirement
Total Plan Interest Cost 14.20 13.20 12.90 13.30 15.70
Total Plan Service Cost 7.00 8.30 8.20 8.50 10.70
Total Plan Expected Return -18.20 -20.20 -18.70 -18.60 -19.70

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