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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 7,098.50 6,458.85 6,107.96 5,615.32 5,618.03
Cost of Revenue, Total 7,098.50 6,458.85 6,107.96 5,615.32 5,618.03
Gross Profit 2,885.13 3,032.44 2,851.13 2,456.24 2,185.41
Selling/General/Administrative Expense 1,711.16 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 1,711.16 1,629.33 1,520.56 1,544.07 1,361.02
Restructuring Charge 58.99 37.09 38.46 41.74 25.48
Impairment-Assets Held for Use -- -- -- -- --
Other Unusual Expense (Income) 19.66 11.86 12.16 32.87 26.12
Unusual Expense (Income) 78.65 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 -9.61 -8.40 -1.10 -9.30 -6.87
Interest/Investment Income, Non-Operating -9.61 -8.40 -1.10 -9.30 -6.87
Interest Income (Expense), Net-Non-Operating, Total -48.44 -39.51 -41.65 -80.38 -105.08
Other Non-Operating Income (Expense) 2.32 3.19 2.83 -8.32 -3.83
Other, Net 2.32 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 156.15 297.92 307.56 131.88 131.64
Income After Tax 893.06 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 889.91 1,016.89 930.36 615.30 531.97
Discontinued Operations -- -- -- 0.00 0.00
Extraordinary Item -28.20 -45.25 -- -- --
Total Extraordinary Items -28.20 -45.25 -- 0.00 0.00
Net Income 861.70 971.64 930.36 615.30 531.97
Miscellaneous Earnings Adjustment -3.89 -0.05 -0.12 -- --
Total Adjustments to Net Income -3.89 -0.05 -0.12 -- --
Income Available to Common Excluding Extraordinary Items 886.01 1,016.84 930.24 615.30 531.97
Income Available to Common Stocks Including Extraordinary Items 857.81 971.59 930.24 615.30 531.97
Basic Weighted Average Shares 74.41 74.36 74.10 73.52 72.84
Basic EPS Excluding Extraordinary Items 11.91 13.68 12.55 8.37 7.30
Basic EPS Including Extraordinary Items 11.53 13.07 12.55 8.37 7.30
Dilution Adjustment -- -- -- -- --
Diluted Net Income 857.81 971.59 930.24 615.30 531.97
Diluted Weighted Average Shares 74.77 74.84 74.57 74.04 73.36
Diluted EPS Excluding Extraordinary Items 11.85 13.59 12.48 8.31 7.25
Diluted EPS Including Extraordinary Items 11.47 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 0.00
Restructuring Charge, Supplemental -- -- -- -- --
Non-Recurring Items, Total -- -- -- -- --
Total Special Items 78.65 48.94 50.62 74.60 51.60
Normalized Income Before Taxes 1,127.85 1,366.80 1,291.75 823.47 715.49
Effect of Special Items on Income Taxes 11.70 11.06 12.54 13.14 10.23
Income Taxes Excluding Impact of Special Items 167.85 308.98 320.10 145.01 141.87
Normalized Income After Taxes 960.00 1,057.82 971.64 678.45 573.62
Normalized Income Available to Common 952.96 1,054.72 968.32 676.77 573.34
Basic Normalized EPS 12.81 14.18 13.07 9.21 7.87
Diluted Normalized EPS 12.74 14.09 12.99 9.14 7.82
Amortization of Intangibles, Supplemental 30.75 34.28 39.55 29.91 24.72
Depreciation, Supplemental 491.02 412.39 369.92 332.74 320.85
Interest Expense, Supplemental 38.83 31.11 40.55 71.09 98.21
Interest Capitalized, Supplemental -10.68 -8.54 -5.61 -7.09 -9.20
Rental Expense, Supplemental 143.51 145.18 125.10 110.77 114.53
Stock-Based Compensation, Supplemental 31.38 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 28.90 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 14.88 22.61 24.78 17.61 19.83
Net Profit Margin 8.87 10.71 10.38 7.62 6.82
Normalized EBIT 1,173.98 1,403.11 1,330.57 912.17 824.40
Normalized EBITDA 1,695.74 1,849.79 1,740.03 1,274.82 1,169.97
Current Tax - Domestic -5.50 222.53 247.92 117.60 100.83
Current Tax - Foreign 58.67 73.25 61.71 31.98 41.15
Current Tax - Local 14.52 17.81 31.94 11.18 13.69
Current Tax - Total 67.69 313.59 341.57 160.76 155.66
Deferred Tax - Domestic 54.98 42.50 -16.17 4.17 31.05
Deferred Tax - Foreign 14.40 -55.13 4.27 -29.07 -51.61
Deferred Tax - Local 19.08 -3.05 -22.12 -3.98 -3.47
Deferred Tax - Total 88.46 -15.68 -34.01 -28.88 -24.03
Income Tax - Total 156.15 297.92 307.56 131.88 131.64
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 22.69 22.04 21.00 18.88 17.65
Total Pension Expense 22.69 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