Income Statement

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update)
Net Sales 11,656.00 5,084.24 5,140.08 3,977.54
Revenue 11,656.00 5,084.24 5,140.08 3,977.54
Total Revenue 11,656.00 5,084.24 5,140.08 3,977.54
Cost of Revenue 7,921.00 2,998.37 3,027.34 2,294.83
Cost of Revenue, Total 7,921.00 2,998.37 3,027.34 2,294.83
Gross Profit 3,735.00 2,085.87 2,112.75 1,682.71
Selling/General/Administrative Expense 1,749.00 948.83 876.12 707.46
Selling/General/Administrative Expenses, Total 1,749.00 948.83 876.12 707.46
Research & Development 629.00 356.86 346.13 311.58
Amortization of Intangibles, Operating 732.00 192.61 193.10 75.88
Depreciation/Amortization 732.00 192.61 193.10 75.88
Restructuring Charge 41.00 17.30 29.77 5.08
Loss (Gain) on Sale of Assets - Operating -1.00 3.78 2.37 -1.18
Other Unusual Expense (Income) -- 0.00 0.00 38.81
Unusual Expense (Income) 40.00 21.08 32.13 42.71
Total Operating Expense 11,071.00 4,517.76 4,474.81 3,432.47
Operating Income 585.00 566.48 665.27 545.07
Interest Expense - Non-Operating -289.00 -131.80 -138.22 -132.91
Interest Expense, Net Non-Operating -289.00 -131.80 -138.22 -132.91
Investment Income, Non-Operating -- -- 0.56 14.51
Interest/Investment Income, Non-Operating -- -- 0.56 14.51
Interest Income (Expense), Net-Non-Operating, Total -289.00 -131.80 -137.66 -118.41
Other Non-Operating Income (Expense) 58.00 6.69 29.85 21.09
Other, Net 58.00 6.69 29.85 21.09
Net Income Before Taxes 354.00 441.37 557.45 447.76
Income Tax – Total 75.00 74.00 97.18 75.18
Income After Tax 279.00 367.37 460.27 372.58
Minority Interest -9.00 -4.14 -4.40 -5.33
Net Income Before Extraordinary Items 270.00 363.23 455.87 367.25
Extraordinary Item -- -- 0.00 -32.80
Total Extraordinary Items -- -- 0.00 -32.80
Net Income 270.00 363.23 455.87 334.45
Miscellaneous Earnings Adjustment -2.00 -2.80 -3.10 -1.00
Total Adjustments to Net Income -2.00 -2.80 -3.10 -1.00
Income Available to Common Excluding Extraordinary Items 268.00 360.43 452.78 366.25
Income Available to Common Stocks Including Extraordinary Items 268.00 360.43 452.78 333.45
Basic Weighted Average Shares 243.00 112.16 111.97 87.55
Basic EPS Excluding Extraordinary Items 1.10 3.21 4.04 4.18
Basic EPS Including Extraordinary Items 1.10 3.21 4.04 3.81
Diluted Net Income 268.00 360.43 452.78 333.45
Diluted Weighted Average Shares 243.00 113.63 113.31 88.12
Diluted EPS Excluding Extraordinary Items 1.10 3.17 4.00 4.16
Diluted EPS Including Extraordinary Items 1.10 3.17 4.00 3.78
DPS - Common Stock Primary Issue 3.10 3.02 2.94 2.80
Gross Dividends - Common Stock 785.00 324.86 315.77 253.58
Litigation Charge, Supplemental -- 3.28 11.31 --
Restructuring Charge, Supplemental 1.00 -- -- --
Other Unusual Expense (Income), Supplemental 261.00 142.12 78.48 --
Non-Recurring Items, Total 262.00 145.40 89.79 --
Total Special Items 302.00 166.48 121.92 42.71
Normalized Income Before Taxes 656.00 607.85 679.37 490.47
Effect of Special Items on Income Taxes 63.98 32.82 25.50 7.17
Income Taxes Excluding Impact of Special Items 138.98 106.82 122.68 82.35
Normalized Income After Taxes 517.02 501.03 556.69 408.12
Normalized Income Available to Common 506.02 494.08 549.20 401.79
Basic Normalized EPS 2.08 4.41 4.91 4.59
Diluted Normalized EPS 2.08 4.35 4.85 4.56
Amortization of Intangibles, Supplemental 732.00 192.61 193.10 75.88
Depreciation, Supplemental 424.00 132.75 130.23 97.91
Interest Expense, Supplemental 289.00 131.80 138.22 132.91
Rental Expense, Supplemental 168.00 61.62 52.21 42.40
Stock-Based Compensation, Supplemental 62.00 39.66 38.61 31.92
Minority Interest, Supplemental -9.00 -4.14 -4.40 -5.33
Research & Development Expense, Supplemental 629.00 356.86 346.13 311.58
Audit-Related Fees, Supplemental 14.79 9.27 9.47 8.90
Audit-Related Fees 1.38 0.20 0.06 0.18
Tax Fees, Supplemental 0.24 0.07 0.32 1.45
All Other Fees Paid to Auditor, Supplemental 0.11 0.01 0.01 0.01
Gross Margin 32.04 41.03 41.10 42.31
Operating Margin 5.02 11.14 12.94 13.70
Pretax Margin 3.04 8.68 10.85 11.26
Effective Tax Rate 21.19 16.77 17.43 16.79
Net Profit Margin 2.30 7.09 8.81 9.21
Normalized EBIT 887.00 732.96 787.19 587.78
Normalized EBITDA 2,043.00 1,058.32 1,110.52 761.58
Current Tax - Domestic -5.00 -8.81 9.98 -11.57
Current Tax - Foreign 303.00 149.38 146.06 98.43
Current Tax - Local 13.00 1.15 0.43 1.71
Current Tax - Total 311.00 141.72 156.46 88.57
Deferred Tax - Domestic -121.00 -7.94 -41.13 -8.29
Deferred Tax - Foreign -81.00 -57.72 -25.75 1.98
Deferred Tax - Local -34.00 -2.06 7.60 -7.09
Deferred Tax - Total -236.00 -67.72 -59.28 -13.40
Income Tax - Total 75.00 74.00 97.18 75.18
Interest Cost - Domestic 71.00 17.26 21.95 19.39
Service Cost - Domestic 1.00 1.28 1.38 1.97
Expected Return on Assets - Domestic -106.00 -28.32 -27.93 -30.99
Curtailments & Settlements - Domestic 0.00 0.00 0.00 0.00
Other Pension, Net - Domestic 29.00 7.94 5.46 6.59
Domestic Pension Plan Expense -5.00 -1.84 0.87 -3.04
Interest Cost - Foreign 10.00 12.77 17.78 17.70
Service Cost - Foreign 42.00 23.95 19.32 18.74
Expected Return on Assets - Foreign -55.00 -45.92 -43.48 -33.99
Curtailments & Settlements - Foreign -10.00 4.47 0.19 --
Other Pension, Net - Foreign 19.00 15.32 11.65 11.80
Foreign Pension Plan Expense 6.00 10.60 5.46 14.25
Interest Cost - Post-Retirement 7.00 1.78 2.27 2.46
Service Cost - Post-Retirement 1.00 0.60 0.57 0.76
Prior Service Cost - Post-Retirement -- -- -- --
Other Post-Retirement, Net -20.00 -4.66 -4.92 -5.50
Post-Retirement Plan Expense -12.00 -2.27 -2.09 -2.28
Defined Contribution Expense - Domestic 36.00 12.43 9.36 10.53
Defined Contribution Expense - Foreign 33.00 7.34 9.00 6.86
Total Pension Expense 58.00 26.26 22.60 26.32
Discount Rate - Domestic -- -- 4.31 --
Discount Rate - Foreign -- -- 2.22 --
Discount Rate - Post-Retirement -- -- -- --
Expected Rate of Return - Domestic -- -- 5.60 --
Expected Rate of Return - Foreign -- -- 4.87 --
Compensation Rate - Domestic -- -- 3.25 --
Compensation Rate - Foreign -- -- 1.93 --
Total Plan Interest Cost 88.00 31.81 41.99 39.56
Total Plan Service Cost 44.00 25.84 21.27 21.46
Total Plan Expected Return -161.00 -74.24 -71.41 -64.98
Total Plan Other Expense 28.00 18.61 12.20 12.89

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In millions of USD (except for per share items)

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