Financial Overview - Annual Income Statement

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Net Sales 3.40M 3.12M 3.02M 3.09M
Revenue 3.40M 3.12M 3.02M 3.09M
Total Revenue 3.40M 3.12M 3.02M 3.09M
Cost of Revenue 1.92M 1.72M 1.67M 1.73M
Cost of Revenue, Total 1.92M 1.72M 1.67M 1.73M
Gross Profit 1.48M 1.40M 1.35M 1.36M
Selling/General/Administrative Expense 557.31 566.22 509.56 514.89
Selling/General/Administrative Expenses, Total 557.31 566.22 509.56 514.89
Research & Development 286.03 254.26 246.10 253.64
Amortization of Intangibles, Operating 34.69 23.76
Depreciation/Amortization 34.69 23.76
Restructuring Charge 19.71 -1.70 7.59 1.30
Litigation
Loss (Gain) on Sale of Assets - Operating -0.18 -10.84
Unusual Expense (Income) 19.53 -12.54 7.59 1.30
Total Operating Expense 2.82M 2.55M 2.43M 2.50M
Operating Income 581.44 567.36 588.35 592.32
Interest Expense - Non-Operating -65.36 -52.99 -46.06 -46.07
Interest Expense, Net Non-Operating -65.36 -52.99 -46.06 -46.07
Investment Income, Non-Operating -10.06 26.82 8.64 -25.68
Interest/Investment Income, Non-Operating -10.06 26.82 8.64 -25.68
Interest Income (Expense), Net-Non-Operating, Total -75.42 -26.17 -37.42 -71.75
Other Non-Operating Income (Expense) 31.02 -17.47 -11.83 28.49
Other, Net 31.02 -17.47 -11.83 28.49
Net Income Before Taxes 537.05 523.72 539.10 549.06
Income Tax – Total 102.18 118.69 119.85 134.52
Income After Tax 434.87 405.03 419.25 414.54
Net Income Before Extraordinary Items 434.87 405.03 419.25 414.54
Extraordinary Item -139.20
Total Extraordinary Items -139.20
Net Income 295.67 405.03 419.25 414.54
Miscellaneous Earnings Adjustment -1.00 -1.00 -2.00 -2.40
Total Adjustments to Net Income -1.00 -1.00 -2.00 -2.40
Income Available to Common Excluding Extraordinary Items 433.87 404.03 417.25 412.14
Income Available to Common Stocks Including Extraordinary Items 294.67 404.03 417.25 412.14
Basic Weighted Average Shares 79.07 79.65 80.45 80.94
Basic EPS Excluding Extraordinary Items 5.49 5.07 5.19 5.09
Basic EPS Including Extraordinary Items 3.73 5.07 5.19 5.09
Diluted Net Income 294.67 404.03 417.25 412.14
Diluted Weighted Average Shares 79.37 79.98 80.89 81.49
Diluted EPS Excluding Extraordinary Items 5.47 5.05 5.16 5.06
Diluted EPS Including Extraordinary Items 3.71 5.05 5.16 5.06
DPS - Common Stock Primary Issue 2.61 2.32 1.97 1.64
Gross Dividends - Common Stock 209.86 190.75 165.73 139.47
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total
Total Special Items 19.53 -12.54 7.59 1.30
Normalized Income Before Taxes 556.57 511.18 546.70 550.36
Effect of Special Items on Income Taxes 3.72 -2.84 1.69 0.32
Income Taxes Excluding Impact of Special Items 105.90 115.85 121.54 134.84
Normalized Income After Taxes 450.68 395.34 425.15 415.52
Normalized Income Available to Common 449.68 394.34 423.15 413.12
Basic Normalized EPS 5.69 4.95 5.26 5.10
Diluted Normalized EPS 5.67 4.93 5.23 5.07
Amortization of Intangibles, Supplemental 34.69 23.76 15.00 7.30
Depreciation, Supplemental 83.27 78.71 74.60 82.05
Interest Expense, Supplemental 65.36 52.99 46.06 46.07
Rental Expense, Supplemental 37.80 35.40 33.60 34.40
Stock-Based Compensation, Supplemental 32.58 28.47 27.94 27.00
Research & Development Expense, Supplemental 286.03 254.26 246.10 253.64
Audit-Related Fees, Supplemental 6.50 5.27 4.67 4.73
Audit-Related Fees 0.07 0.13 0.06 0.61
Tax Fees, Supplemental 0.39 0.51 0.65 1.23
All Other Fees Paid to Auditor, Supplemental 0.01 0.01 0.07 0.06
Gross Margin 43.52 44.89 44.71 44.10
Operating Margin 17.11 18.21 19.46 19.18
Pretax Margin 15.80 16.81 17.83 17.78
Effective Tax Rate 19.03 22.66 22.23 24.50
Net Profit Margin 12.77 12.96 13.80 13.34
Normalized EBIT 600.97 554.82 595.94 593.62
Normalized EBITDA 718.94 657.29 685.54 682.97
Current Tax - Domestic 68.89 -2.92 7.65 1.18
Current Tax - Foreign 113.47 105.87 98.96 109.73
Current Tax - Local 0.14 1.38 0.20 0.26
Current Tax - Total 182.49 104.34 106.81 111.17
Deferred Tax - Domestic -64.75 8.84 14.38 20.80
Deferred Tax - Local -15.56 5.51 -1.34 2.56
Deferred Tax - Total -80.31 14.35 13.04 23.35
Income Tax - Total 102.18 118.69 119.85 134.52
Interest Cost - Domestic 20.08 24.10 23.71 25.09
Service Cost - Domestic 2.18 2.50 3.14 3.06
Expected Return on Assets - Domestic -35.58 -33.99 -32.41 -27.65
Curtailments & Settlements - Domestic -- -- -- --
Other Pension, Net - Domestic 5.42 5.82 21.39 17.66
Domestic Pension Plan Expense -7.90 -1.57 15.83 18.16
Interest Cost - Foreign 17.12 24.41 25.39 33.36
Service Cost - Foreign 18.65 15.21 15.87 14.14
Expected Return on Assets - Foreign -50.63 -45.87 -50.44 -49.86
Curtailments & Settlements - Foreign 2.75 -0.49 -- 0.04
Other Pension, Net - Foreign 14.40 12.80 12.86 10.58
Foreign Pension Plan Expense 2.29 6.07 3.68 8.27
Interest Cost - Post-Retirement 2.71 3.33 3.90 4.90
Service Cost - Post-Retirement 0.72 0.85 0.97 1.30
Prior Service Cost - Post-Retirement --
Other Post-Retirement, Net -4.91 -5.09 -4.48 -4.11
Post-Retirement Plan Expense -1.49 -0.91 0.39 2.08
Defined Contribution Expense - Domestic 8.60 8.40 7.10 7.85
Defined Contribution Expense - Foreign 5.68 6.30 7.03 6.32
Total Pension Expense 7.19 18.30 34.04 42.68
Discount Rate - Domestic 4.19 4.20 3.90 4.70
Discount Rate - Foreign 2.14 3.03 2.74 4.18
Discount Rate - Post-Retirement
Expected Rate of Return - Domestic 7.30 7.30 7.30 7.30
Expected Rate of Return - Foreign 5.95 6.40 6.24 6.27
Compensation Rate - Domestic 3.25 3.25 3.25 3.25
Compensation Rate - Foreign 1.97 1.98 2.00 2.66
Total Plan Interest Cost 39.90 51.84 53.00 63.35
Total Plan Service Cost 21.55 18.56 19.98 18.49
Total Plan Expected Return -86.20 -79.85 -82.84 -77.51
Total Plan Other Expense 14.91 13.54 29.78 24.13
For a more complete picture of our financial results, please review our SEC Filings

In millions of USD (except for per share items)

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