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Income Statement

Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Net Sales 9,983.63 9,491.29 8,959.09 8,071.56 7,803.45
Revenue 9,983.63 9,491.29 8,959.09 8,071.56 7,803.45
Total Revenue 9,983.63 9,491.29 8,959.09 8,071.56 7,803.45
Cost of Revenue 7,145.56 6,458.85 6,107.96 5,615.32 5,618.03
Cost of Revenue, Total 7,145.56 6,458.85 6,107.96 5,615.32 5,618.03
Gross Profit 2,838.07 3,032.44 2,851.13 2,456.24 2,185.41
Selling/General/Administrative Expense 1,742.74 1,629.33 1,398.42 1,495.01 1,315.53
Advertising Expense -- -- 122.15 49.06 45.49
Selling/General/Administrative Expenses, Total 1,742.74 1,629.33 1,520.56 1,544.07 1,361.02
Restructuring Charge -- 37.09 38.46 41.74 25.48
Impairment-Assets Held for Use -- -- -- -- --
Other Unusual Expense (Income) -- 11.86 12.16 32.87 26.12
Unusual Expense (Income) -- 48.94 50.62 74.60 51.60
Total Operating Expense 8,888.31 8,137.12 7,679.14 7,234.00 7,030.65
Operating Income 1,095.33 1,354.17 1,279.94 837.57 772.80
Interest Expense - Non-Operating -38.83 -31.11 -40.55 -71.09 -98.21
Interest Expense, Net Non-Operating -38.83 -31.11 -40.55 -71.09 -98.21
Investment Income, Non-Operating -- -8.40 -1.10 -9.30 -6.87
Interest/Investment Income, Non-Operating -- -8.40 -1.10 -9.30 -6.87
Interest Income (Expense), Net-Non-Operating, Total -38.83 -39.51 -41.65 -80.38 -105.08
Other Non-Operating Income (Expense) -7.30 3.19 2.83 -8.32 -3.83
Other, Net -7.30 3.19 2.83 -8.32 -3.83
Net Income Before Taxes 1,049.20 1,317.86 1,241.13 748.86 663.89
Income Tax – Total 184.35 297.92 307.56 131.88 131.64
Income After Tax 864.86 1,019.94 933.57 616.99 532.25
Minority Interest -3.15 -3.05 -3.20 -1.68 -0.29
Net Income Before Extraordinary Items 861.70 1,016.89 930.36 615.30 531.97
Discontinued Operations -- -- -- 0.00 0.00
Extraordinary Item -- -45.25 -- -- --
Total Extraordinary Items -- -45.25 -- 0.00 0.00
Net Income 861.70 971.64 930.36 615.30 531.97
Miscellaneous Earnings Adjustment -- -0.05 -0.12 -- --
Total Adjustments to Net Income -- -0.05 -0.12 -- --
Income Available to Common Excluding Extraordinary Items 861.70 1,016.84 930.24 615.30 531.97
Income Available to Common Stocks Including Extraordinary Items 861.70 971.59 930.24 615.30 531.97
Basic Weighted Average Shares 74.41 74.36 74.10 73.52 72.84
Basic EPS Excluding Extraordinary Items 11.58 13.68 12.55 8.37 7.30
Basic EPS Including Extraordinary Items 11.58 13.07 12.55 8.37 7.30
Dilution Adjustment -- -- 0.12 -- --
Diluted Net Income 861.70 971.59 930.36 615.30 531.97
Diluted Weighted Average Shares 74.77 74.84 74.57 74.04 73.36
Diluted EPS Excluding Extraordinary Items 11.52 13.59 12.48 8.31 7.25
Diluted EPS Including Extraordinary Items 11.52 12.98 12.48 8.31 7.25
DPS - Common Stock Primary Issue -- -- -- 0.00 0.00
Gross Dividends - Common Stock -- 0.00 0.00 0.00 0.00
Restructuring Charge, Supplemental -78.45 -- -- -- --
Other Unusual Expense (Income), Supplemental -15.36 -- -- -- --
Non-Recurring Items, Total -93.81 -- -- -- --
Total Special Items -93.81 48.94 50.62 74.60 51.60
Normalized Income Before Taxes 955.39 1,366.80 1,291.75 823.47 715.49
Effect of Special Items on Income Taxes -16.48 11.06 12.54 13.14 10.23
Income Taxes Excluding Impact of Special Items 167.86 308.98 320.10 145.01 141.87
Normalized Income After Taxes 787.53 1,057.82 971.64 678.45 573.62
Normalized Income Available to Common 784.38 1,054.72 968.32 676.77 573.34
Basic Normalized EPS 10.54 14.18 13.07 9.21 7.87
Diluted Normalized EPS 10.49 14.09 12.99 9.14 7.82
Amortization of Intangibles, Supplemental -- 34.28 39.55 29.91 24.72
Depreciation, Supplemental 521.77 412.39 369.92 332.74 320.85
Interest Expense, Supplemental 38.83 31.11 40.55 71.09 98.21
Interest Capitalized, Supplemental -- -8.54 -5.61 -7.09 -9.20
Rental Expense, Supplemental -- 145.18 125.10 110.77 114.53
Stock-Based Compensation, Supplemental -- 36.32 35.06 32.55 27.96
Advertising Expense, Supplemental -- -- 122.15 49.06 45.49
Minority Interest, Supplemental -3.15 -3.05 -3.20 -1.68 -0.29
Audit-Related Fees, Supplemental -- 6.63 5.89 5.88 5.14
Audit-Related Fees -- 0.21 0.04 0.29 0.05
Tax Fees, Supplemental -- 0.10 0.11 0.11 0.05
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00 0.00
Gross Margin 28.43 31.95 31.82 30.43 28.01
Operating Margin 10.97 14.27 14.29 10.38 9.90
Pretax Margin 10.51 13.88 13.85 9.28 8.51
Effective Tax Rate 17.57 22.61 24.78 17.61 19.83
Net Profit Margin 8.63 10.71 10.38 7.62 6.82
Normalized EBIT 1,001.52 1,403.11 1,330.57 912.17 824.40
Normalized EBITDA 1,523.28 1,849.79 1,740.03 1,274.82 1,169.97
Current Tax - Domestic -- 222.53 247.92 117.60 100.83
Current Tax - Foreign -- 73.25 61.71 31.98 41.15
Current Tax - Local -- 17.81 31.94 11.18 13.69
Current Tax - Total -- 313.59 341.57 160.76 155.66
Deferred Tax - Domestic -- 42.50 -16.17 4.17 31.05
Deferred Tax - Foreign -- -55.13 4.27 -29.07 -51.61
Deferred Tax - Local -- -3.05 -22.12 -3.98 -3.47
Deferred Tax - Total -- -15.68 -34.01 -28.88 -24.03
Income Tax - Total -- 297.92 307.56 131.88 131.64
Interest Cost - Foreign -- -- -- -- 0.80
Service Cost - Foreign -- -- -- -- 0.59
Expected Return on Assets - Foreign -- -- -- -- -0.70
Actuarial Gains and Losses - Foreign -- -- -- -- 0.01
Curtailments & Settlements - Foreign -- -- -- -- -0.02
Foreign Pension Plan Expense -- -- -- -- 0.68
Defined Contribution Expense - Domestic -- 22.04 21.00 18.88 17.65
Total Pension Expense -- 22.04 21.00 18.88 18.34
Discount Rate - Foreign -- -- -- -- 3.50
Expected Rate of Return - Foreign -- -- -- -- 3.27
Compensation Rate - Foreign -- -- -- -- 2.00
Total Plan Interest Cost -- -- -- -- 0.80
Total Plan Service Cost -- -- -- -- 0.59
Total Plan Expected Return -- -- -- -- -0.70