Financial Overview - Annual Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Reclassified)
Net Sales 5,140.08 3,977.54 3,398.72 3,116.35
Revenue 5,140.08 3,977.54 3,398.72 3,116.35
Total Revenue 5,140.08 3,977.54 3,398.72 3,116.35
Cost of Revenue 3,027.34 2,294.83 1,926.26 1,720.79
Cost of Revenue, Total 3,027.34 2,294.83 1,926.26 1,720.79
Gross Profit -- 1,682.71 1,472.46 1,395.56
Selling/General/Administrative Expense 876.12 707.46 570.14 572.52
Selling/General/Administrative Expenses, Total 876.12 707.46 570.14 572.52
Research & Development 346.13 311.58 295.47 258.86
Amortization of Intangibles, Operating 193.10 75.88 34.69 23.76
Depreciation/Amortization 193.10 75.88 34.69 23.76
Restructuring Charge 29.77 5.08 19.71 -1.70
Litigation -- -- -- --
Loss (Gain) on Sale of Assets - Operating 2.37 -1.18 -0.18 -10.84
Other Unusual Expense (Income) 0.00 38.81 0.00 0.00
Unusual Expense (Income) 32.13 42.71 19.53 -12.54
Total Operating Expense -- 3,432.47 2,846.09 2,563.40
Operating Income -- 545.07 552.63 552.96
Interest Expense - Non-Operating -138.22 -132.91 -65.36 -52.99
Interest Expense, Net Non-Operating -138.22 -132.91 -65.36 -52.99
Investment Income, Non-Operating -- 14.51 -10.06 26.82
Interest/Investment Income, Non-Operating -- 14.51 -10.06 26.82
Interest Income (Expense), Net-Non-Operating, Total -138.22 -118.41 -75.42 -26.17
Other Non-Operating Income (Expense) 30.40 21.09 59.84 -3.07
Other, Net 30.40 21.09 59.84 -3.07
Net Income Before Taxes 557.45 447.76 537.05 523.72
Income Tax – Total 97.18 75.18 102.18 118.69
Income After Tax -- 372.58 434.87 405.03
Minority Interest -4.40 -5.33 0.00 0.00
Net Income Before Extraordinary Items -- 367.25 434.87 405.03
Extraordinary Item 0.00 -32.80 -139.20 --
Total Extraordinary Items 0.00 -32.80 -139.20 --
Net Income -- 334.45 295.67 405.03
Miscellaneous Earnings Adjustment -- -1.00 -1.00 -1.00
Total Adjustments to Net Income -- -1.00 -1.00 -1.00
Income Available to Common Excluding Extraordinary Items 455.87 366.25 433.87 404.03
Income Available to Common Stocks Including Extraordinary Items -- 333.45 294.67 404.03
Basic Weighted Average Shares 111.97 87.55 79.07 79.65
Basic EPS Excluding Extraordinary Items -- 4.18 5.49 5.07
Basic EPS Including Extraordinary Items 4.05 3.81 3.73 5.07
Diluted Net Income -- 333.45 294.67 404.03
Diluted Weighted Average Shares 113.31 88.12 79.37 79.98
Diluted EPS Excluding Extraordinary Items -- 4.16 5.47 5.05
Diluted EPS Including Extraordinary Items 4.00 3.78 3.71 5.05
DPS - Common Stock Primary Issue 2.94 2.80 2.61 2.32
Gross Dividends - Common Stock -- 253.58 209.86 190.75
Other Unusual Expense (Income), Supplemental 89.79 -- -- --
Non-Recurring Items, Total 89.79 -- -- --
Total Special Items -- 42.71 19.53 -12.54
Normalized Income Before Taxes -- 490.47 556.57 511.18
Effect of Special Items on Income Taxes -- 7.17 3.72 -2.84
Income Taxes Excluding Impact of Special Items -- 82.35 105.90 115.85
Normalized Income After Taxes -- 408.12 450.68 395.34
Normalized Income Available to Common -- 401.79 449.68 394.34
Basic Normalized EPS -- 4.59 5.69 4.95
Diluted Normalized EPS -- 4.56 5.67 4.93
Amortization of Intangibles, Supplemental 193.10 75.88 34.69 23.76
Depreciation, Supplemental 130.23 97.91 83.27 78.71
Interest Expense, Supplemental 138.22 132.91 65.36 52.99
Rental Expense, Supplemental -- 42.40 37.80 35.40
Stock-Based Compensation, Supplemental -- 31.92 32.58 28.47
Minority Interest, Supplemental -4.40 -5.33 0.00 0.00
Research & Development Expense, Supplemental 346.13 311.58 295.47 258.86
Audit-Related Fees, Supplemental -- 8.90 6.50 5.27
Audit-Related Fees -- 0.18 0.07 0.13
Tax Fees, Supplemental -- 1.45 0.39 0.51
All Other Fees Paid to Auditor, Supplemental -- 0.01 0.01 0.01
Gross Margin -- 42.31 43.32 44.78
Operating Margin -- 13.70 16.26 17.74
Pretax Margin 10.85 11.26 15.80 16.81
Effective Tax Rate 17.43 16.79 19.03 22.66
Net Profit Margin 8.87 9.21 12.77 12.96
Normalized EBIT -- 587.78 572.16 540.42
Normalized EBITDA -- 761.58 690.12 642.89
Current Tax - Domestic -- -11.57 68.89 -2.92
Current Tax - Foreign -- 98.43 113.47 105.87
Current Tax - Local -- 1.71 0.14 1.38
Current Tax - Total -- 88.57 182.49 104.34
Deferred Tax - Domestic -- -8.29 -64.75 8.84
Deferred Tax - Foreign -- 1.98 -4.02 6.14
Deferred Tax - Local -- -7.09 -11.54 -0.63
Deferred Tax - Total -- -13.40 -80.31 14.35
Income Tax - Total -- 75.18 102.18 118.69
Interest Cost - Domestic -- 19.39 20.08 24.10
Service Cost - Domestic -- 1.97 2.18 2.50
Expected Return on Assets - Domestic -- -30.99 -35.58 -33.99
Curtailments & Settlements - Domestic -- 0.00 0.00 0.00
Other Pension, Net - Domestic -- 6.59 5.42 5.82
Domestic Pension Plan Expense -- -3.04 -7.90 -1.57
Interest Cost - Foreign -- 17.70 17.12 24.41
Service Cost - Foreign -- 18.74 18.65 15.21
Expected Return on Assets - Foreign -- -33.99 -50.63 -45.87
Curtailments & Settlements - Foreign -- -- 2.75 -0.49
Other Pension, Net - Foreign -- 11.80 14.40 12.80
Foreign Pension Plan Expense -- 14.25 2.29 6.07
Interest Cost - Post-Retirement -- 2.46 2.71 3.33
Service Cost - Post-Retirement -- 0.76 0.72 0.85
Prior Service Cost - Post-Retirement -- -- -- 0.00
Other Post-Retirement, Net -- -5.50 -4.91 -5.09
Post-Retirement Plan Expense -- -2.28 -1.49 -0.91
Defined Contribution Expense - Domestic -- 10.53 8.60 8.40
Defined Contribution Expense - Foreign -- 6.86 5.68 6.30
Total Pension Expense -- 26.32 7.19 18.30
Discount Rate - Domestic -- -- 4.19 4.20
Discount Rate - Foreign -- -- 2.14 3.03
Discount Rate - Post-Retirement -- -- -- --
Expected Rate of Return - Domestic -- -- 7.30 7.30
Expected Rate of Return - Foreign -- -- 5.95 6.40
Compensation Rate - Domestic -- -- 3.25 3.25
Compensation Rate - Foreign -- -- 1.97 1.98
Total Plan Interest Cost -- 39.56 39.90 51.84
Total Plan Service Cost -- 21.46 21.55 18.56
Total Plan Expected Return -- -64.98 -86.20 -79.85
Total Plan Other Expense -- 12.89 14.91 13.54
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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