Annual Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Restated) Year Ending Dec 2016 (Restated) Year Ending Dec 2015 (Reclassified)
Net Sales 11,554.80 11,333.40 10,308.00 9,552.90 8,680.10
Revenue 11,554.80 11,333.40 10,308.00 9,552.90 8,680.10
Total Revenue 11,554.80 11,333.40 10,308.00 9,552.90 8,680.10
Cost of Revenue 8,302.30 8,157.00 7,216.20 6,698.90 5,776.80
Cost of Revenue, Total 8,302.30 8,157.00 7,216.20 6,698.90 5,776.80
Gross Profit 3,252.50 3,176.40 3,091.80 2,854.00 2,903.30
Selling/General/Administrative Expense 1,523.50 1,570.90 1,499.20 1,345.50 1,628.10
Selling/General/Administrative Expenses, Total 1,523.50 1,570.90 1,499.20 1,345.50 1,628.10
Amortization of Intangibles, Operating 243.20 231.70 216.50 179.50 164.50
Depreciation/Amortization 243.20 231.70 216.50 179.50 164.50
Restructuring Charge 54.60 48.10 70.90 58.40 113.90
Impairment-Assets Held for Sale 5.20 -- -- -- --
Other Unusual Expense (Income) 101.00 -- -- -- --
Unusual Expense (Income) 160.80 48.10 70.90 58.40 113.90
Total Operating Expense 10,229.80 10,007.70 9,002.80 8,282.30 7,683.30
Operating Income 1,325.00 1,325.70 1,305.20 1,270.60 996.80
Interest Expense - Non-Operating -240.70 -244.20 -235.10 -219.10 -274.90
Interest Expense, Net Non-Operating -240.70 -244.20 -235.10 -219.10 -274.90
Investment Income, Non-Operating 28.40 19.10 13.40 9.60 11.90
Interest/Investment Income, Non-Operating 28.40 19.10 13.40 9.60 11.90
Interest Income (Expense), Net-Non-Operating, Total -212.30 -225.10 -221.70 -209.50 -263.00
Other Non-Operating Income (Expense) -7.80 167.70 -6.00 12.50 -7.80
Other, Net -7.80 167.70 -6.00 12.50 -7.80
Net Income Before Taxes 1,104.90 1,268.30 1,077.50 1,073.60 726.00
Income Tax – Total 280.00 339.50 363.60 360.70 287.30
Income After Tax 824.90 928.80 713.90 712.90 438.70
Minority Interest -1.10 -0.20 -5.80 -1.10 -1.10
Net Income Before Extraordinary Items 823.80 928.60 708.10 711.80 437.60
Extraordinary Item -- -44.90 519.00 -- --
Total Extraordinary Items -- -44.90 519.00 -- --
Net Income 823.80 883.70 1,227.10 711.80 437.60
Income Available to Common Excluding Extraordinary Items 823.80 928.60 708.10 711.80 437.60
Income Available to Common Stocks Including Extraordinary Items 823.80 883.70 1,227.10 711.80 437.60
Basic Weighted Average Shares 97.90 101.40 102.40 102.50 98.80
Basic EPS Excluding Extraordinary Items 8.41 9.16 6.92 6.94 4.43
Basic EPS Including Extraordinary Items 8.41 8.71 11.98 6.94 4.43
Dilution Adjustment -- -- -- -- --
Diluted Net Income 823.80 883.70 1,227.10 711.80 437.60
Diluted Weighted Average Shares 98.60 102.60 103.90 104.30 100.60
Diluted EPS Excluding Extraordinary Items 8.35 9.05 6.82 6.82 4.35
Diluted EPS Including Extraordinary Items 8.35 8.61 11.81 6.82 4.35
DPS - Common Stock Primary Issue -- -- -- -- 0.00
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00 0.00
Other Unusual Expense (Income), Supplemental 0.00 117.80 -- -- --
Non-Recurring Items, Total 0.00 117.80 -- -- --
Total Special Items 160.80 165.90 70.90 58.40 113.90
Normalized Income Before Taxes 1,265.70 1,434.20 1,148.40 1,132.00 839.90
Effect of Special Items on Income Taxes 40.75 44.41 23.93 19.62 45.07
Income Taxes Excluding Impact of Special Items 320.75 383.91 387.53 380.32 332.37
Normalized Income After Taxes 944.95 1,050.29 760.87 751.68 507.53
Normalized Income Available to Common 943.85 1,050.09 755.07 750.58 506.43
Basic Normalized EPS 9.64 10.36 7.37 7.32 5.13
Diluted Normalized EPS 9.57 10.23 7.27 7.20 5.03
Amortization of Intangibles, Supplemental 243.20 231.70 216.50 179.50 164.50
Depreciation, Supplemental 334.00 320.40 316.70 319.70 293.30
Interest Expense, Supplemental 247.40 244.20 235.10 219.10 274.90
Rental Expense, Supplemental 393.10 358.70 313.80 291.20 287.10
Stock-Based Compensation, Supplemental 107.00 91.60 109.70 109.60 102.10
Equity in Affiliates, Supplemental 9.80 11.60 11.30 7.90 10.00
Minority Interest, Supplemental -1.10 -0.20 -5.80 -1.10 -1.10
Audit-Related Fees, Supplemental -- 5.30 3.48 -- 3.82
Audit-Related Fees -- 0.24 0.38 -- 0.01
Tax Fees, Supplemental -- 1.40 1.82 -- 2.31
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.28 -- 0.00
Gross Margin 28.15 28.03 29.99 29.88 33.45
Operating Margin 11.47 11.70 12.66 13.30 11.48
Pretax Margin 9.56 11.19 10.45 11.24 8.36
Effective Tax Rate 25.34 26.77 33.74 33.60 39.57
Net Profit Margin 7.13 8.19 6.87 7.45 5.04
Normalized EBIT 1,485.80 1,491.60 1,376.10 1,329.00 1,110.70
Normalized EBITDA 2,063.00 2,043.70 1,909.30 1,828.20 1,568.50
Current Tax - Domestic 126.70 225.80 300.80 235.10 218.30
Current Tax - Foreign 83.90 64.30 53.00 43.90 69.40
Current Tax - Local 40.20 61.20 32.90 38.60 33.70
Current Tax - Total 250.80 351.30 386.70 317.60 321.40
Deferred Tax - Domestic 38.20 -47.40 -28.80 54.60 -14.10
Deferred Tax - Foreign -11.50 5.60 -5.70 -16.80 -15.80
Deferred Tax - Local 2.50 30.00 11.40 5.30 -4.20
Deferred Tax - Total 29.20 -11.80 -23.10 43.10 -34.10
Income Tax - Total 280.00 339.50 363.60 360.70 287.30
Interest Cost - Domestic 13.90 13.00 -- -- 15.10
Service Cost - Domestic 4.10 5.20 -- -- 3.90
Expected Return on Assets - Domestic -15.10 -16.50 -- -- -18.30
Curtailments & Settlements - Domestic -- 7.50 -- -- --
Other Pension, Net - Domestic 10.90 11.70 -- -- 11.30
Domestic Pension Plan Expense 13.80 20.90 -- -- 12.00
Interest Cost - Foreign 10.90 8.00 -- -- --
Service Cost - Foreign 5.70 6.00 -- -- --
Expected Return on Assets - Foreign -15.00 -12.60 -- -- --
Other Pension, Net - Foreign -1.20 -1.30 -- -- --
Foreign Pension Plan Expense 0.40 0.10 -- -- --
Interest Cost - Post-Retirement 0.30 0.30 -- -- 1.00
Service Cost - Post-Retirement 0.00 0.00 -- -- 0.10
Actuarial Gains and Losses - Post-Retirement 0.80 -2.60 -- -- -10.40
Post-Retirement Plan Expense 1.10 -2.30 -- -- -9.30
Defined Contribution Expense - Domestic 126.20 131.30 -- -- --
Total Pension Expense 141.50 150.00 -- -- 2.70
Discount Rate - Domestic 4.20 1.70 -- -- 1.50
Discount Rate - Foreign 2.90 2.50 -- -- 3.50
Discount Rate - Post-Retirement -- -- -- -- --
Expected Rate of Return - Domestic -- -- -- -- --
Expected Rate of Return - Foreign 4.40 4.50 -- -- --
Compensation Rate - Domestic -- -- -- -- 2.00
Compensation Rate - Foreign -- -- -- -- 3.50
Total Plan Interest Cost 25.10 21.30 -- -- 16.10
Total Plan Service Cost 9.80 11.20 -- -- 4.00
Total Plan Expected Return -30.10 -29.10 -- -- -18.30
Total Plan Other Expense 9.70 10.40 -- -- 11.30
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