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 165.60 170.30 167.70 170.40 177.40
Labor & Related Expense 4.20 4.10 3.50 4.00
Selling/General/Administrative Expenses, Total 169.80 174.40 171.20 174.40 177.40
Research & Development 22.70 23.70 23.80 23.60 24.40
Amortization of Intangibles, Operating 8.80 8.00 8.20 15.70 4.80
Depreciation/Amortization 8.80 8.00 8.20 15.70 4.80
Restructuring Charge -- -1.10 -2.90 -- 43.20
Litigation -- -- -2.30
Impairment-Assets Held for Use 0.70 5.30 18.50 34.20
Other Unusual Expense (Income) 3.50 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 -48.90 -45.40 -56.50 -62.60 -45.20
Interest Capitalized - Non-Operating 0.50 0.20 0.10 0.50 0.60
Interest Expense, Net Non-Operating -48.40 -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 2.50 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 38.80 40.40 35.30 22.80 30.80
Income After Tax 165.30 150.50 135.00 109.80 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 164.60 148.10 133.40 107.90 90.30
Discontinued Operations -- -- 1.50
Extraordinary Item 4.40 47.00
Tax on Extraordinary Items -- -- 0.60
Total Extraordinary Items 4.40 47.00 -- -- 2.10
Net Income 169.00 195.10 133.40 107.90 92.40
Income Available to Common Excluding Extraordinary Items 164.60 148.10 133.40 107.90 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 4.66 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 4.62 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 7.10 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 0.80 4.72 7.52 10.57 16.48
Income Taxes Excluding Impact of Special Items 39.60 45.12 42.82 33.37 47.28
Normalized Income After Taxes 168.70 168.08 163.78 160.73 141.52
Normalized Income Available to Common 168.00 165.68 162.18 158.83 139.62
Basic Normalized EPS 4.76 4.71 4.65 4.58 4.05
Diluted Normalized EPS 4.72 4.65 4.61 4.54 4.01
Amortization of Intangibles, Supplemental 8.80 8.00 8.20 7.90 4.80
Depreciation, Supplemental 85.50 83.00 83.70 90.40 79.60
Interest Expense, Supplemental 48.40 45.20 56.40 62.10 44.60
Interest Capitalized, Supplemental -0.50 -0.20 -0.10 -0.50 -0.60
Rental Expense, Supplemental 19.50 19.30 16.20 19.50 19.80
Stock-Based Compensation, Supplemental 6.20 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 19.01 21.16 20.73 17.19 25.04
Net Profit Margin 9.11 8.84 8.14 6.00 5.23
Normalized EBIT 260.10 261.10 257.20 257.30 228.80
Normalized EBITDA 354.40 352.10 349.10 355.60 313.20
Current Tax - Domestic 0.70 11.00 18.70 1.40 28.10
Current Tax - Foreign 11.10 -78.10 -8.80 -3.20 -15.10
Current Tax - Local 1.40 2.40 4.40 1.20 3.40
Current Tax - Total 13.20 -64.70 14.30 -0.60 16.40
Deferred Tax - Domestic 21.30 103.10 23.20 22.70 20.30
Deferred Tax - Foreign 4.30 2.00 -2.20 0.70 -5.90
Deferred Tax - Total 25.60 105.10 21.00 23.40 14.40
Other Tax
Income Tax - Total 38.80 40.40 35.30 22.80 30.80
Interest Cost - Domestic 13.00 12.60 13.00 15.40 14.90
Service Cost - Domestic 8.10 7.90 8.20 10.30 8.90
Prior Service Cost - Domestic -- -- 0.60 0.80 1.00
Expected Return on Assets - Domestic -20.20 -18.70 -18.60 -19.70 -19.40
Actuarial Gains and Losses - Domestic 10.70 10.80 10.70 12.10 7.40
Curtailments & Settlements - Domestic --
Domestic Pension Plan Expense 11.60 12.60 13.90 18.90 12.80
Interest Cost - Post-Retirement 0.20 0.30 0.30 0.30 0.40
Service Cost - Post-Retirement 0.20 0.30 0.30 0.40 0.40
Prior Service Cost - Post-Retirement -0.90 -3.10 -3.10 -3.10 -3.10
Expected Return on Assets - Post-Retirement -- -- -- -- --
Actuarial Gains and Losses - Post-Retirement -0.80 -0.30 -0.20 -0.10 -0.20
Transition Costs - Post-Retirement --
Post-Retirement Plan Expense -1.30 -2.80 -2.70 -2.50 -2.50
Defined Contribution Expense - Domestic 6.30 2.90
Total Pension Expense 10.30 9.80 11.20 22.70 13.20
Discount Rate - Domestic 3.16 3.56 3.88 3.71 4.39
Discount Rate - Post-Retirement 4.39
Expected Rate of Return - Domestic 6.40 6.61 6.89 6.89 7.34
Expected Rate of Return - Post-Retirement 7.34
Compensation Rate - Domestic 3.01 3.01 3.03 3.04 3.08
Compensation Rate - Post-Retirement 3.08
Total Plan Interest Cost 13.20 12.90 13.30 15.70 15.30
Total Plan Service Cost 8.30 8.20 8.50 10.70 9.30
Total Plan Expected Return -20.20 -18.70 -18.60 -19.70 -19.40

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