FUNDAMENTALS - 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 1,973.30 2,004.30 1,861.20 1,855.50
Revenue 1,973.30 2,004.30 1,861.20 1,855.50
Total Revenue 1,973.30 2,004.30 1,861.20 1,855.50
Cost of Revenue 1,421.50 1,439.70 1,328.40 1,346.70
Cost of Revenue, Total 1,421.50 1,439.70 1,328.40 1,346.70
Gross Profit 551.80 564.60 532.80 508.80
Selling/General/Administrative Expense 151.80 157.60 156.10 149.10
Selling/General/Administrative Expenses, Total 151.80 157.60 156.10 149.10
Research & Development 49.40 46.90 44.30 47.90
Restructuring Charge -- -- -- --
Litigation -- -- -- --
Impairment-Assets Held for Use -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- --
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) -- -- -- --
Other, Net -- -- 0.00 6.00
Other Operating Expenses, Total -- -- 0.00 6.00
Total Operating Expense 1,622.70 1,644.20 1,528.80 1,549.70
Operating Income 350.60 360.10 332.40 305.80
Interest Expense - Non-Operating -27.40 -22.10 -14.20 -8.00
Interest Expense, Net Non-Operating -27.40 -22.10 -14.20 -8.00
Interest Income (Expense), Net-Non-Operating, Total -27.40 -22.10 -14.20 -8.00
Other Non-Operating Income (Expense) 0.00 -0.40 0.00 -0.50
Other, Net 0.00 -0.40 0.00 -0.50
Net Income Before Taxes 323.20 337.60 318.20 297.30
Income Tax – Total 64.60 90.30 83.00 89.30
Income After Tax 258.60 247.30 235.20 208.00
Equity In Affiliates 3.30 2.50 2.00 1.40
Net Income Before Extraordinary Items 261.90 249.80 237.20 209.40
Discontinued Operations -- -- -- --
Extraordinary Item 22.10 -- -- --
Total Extraordinary Items 22.10 -- -- --
Net Income 284.00 249.80 237.20 209.40
Income Available to Common Excluding Extraordinary Items 261.90 249.80 237.20 209.40
Income Available to Common Stocks Including Extraordinary Items 284.00 249.80 237.20 209.40
Basic Weighted Average Shares 90.60 92.80 95.80 96.80
Basic EPS Excluding Extraordinary Items 2.89 2.69 2.48 2.16
Basic EPS Including Extraordinary Items 3.13 2.69 2.48 2.16
Dilution Adjustment -- -- -- --
Diluted Net Income 284.00 249.80 237.20 209.40
Diluted Weighted Average Shares 91.90 94.20 97.20 98.70
Diluted EPS Excluding Extraordinary Items 2.85 2.65 2.44 2.12
Diluted EPS Including Extraordinary Items 3.09 2.65 2.44 2.12
DPS - Common Stock Primary Issue 0.47 0.43 0.40 --
Gross Dividends - Common Stock 42.60 39.80 38.30 0.00
Total Special Items -- -- -- --
Normalized Income Before Taxes 323.20 337.60 318.20 297.30
Effect of Special Items on Income Taxes -- -- -- --
Income Taxes Excluding Impact of Special Items 64.60 90.30 83.00 89.30
Normalized Income After Taxes 258.60 247.30 235.20 208.00
Normalized Income Available to Common 261.90 249.80 237.20 209.40
Basic Normalized EPS 2.89 2.69 2.48 2.16
Diluted Normalized EPS 2.85 2.65 2.44 2.12
Amortization of Intangibles, Supplemental -- -- -- --
Depreciation, Supplemental 104.50 93.30 76.40 71.20
Interest Expense, Supplemental 27.40 22.10 14.20 8.00
Interest Capitalized, Supplemental -- -- -- --
Rental Expense, Supplemental 12.00 11.40 10.20 12.70
Stock-Based Compensation, Supplemental 17.60 16.10 17.90 17.20
Equity in Affiliates, Supplemental 3.30 2.50 2.00 1.40
Research & Development Expense, Supplemental 49.40 46.90 44.30 47.90
Audit-Related Fees, Supplemental 2.99 2.49 2.66 2.39
Audit-Related Fees 0.15 0.00 0.02 0.03
Tax Fees, Supplemental 0.09 0.75 1.19 1.46
All Other Fees Paid to Auditor, Supplemental 0.03 0.03 0.00 0.00
Gross Margin 27.96 28.17 28.63 27.42
Operating Margin 17.77 17.97 17.86 16.48
Pretax Margin 16.38 16.84 17.10 16.02
Effective Tax Rate 19.99 26.75 26.08 30.04
Net Profit Margin 13.27 12.46 12.74 11.29
Normalized EBIT 350.60 360.10 332.40 305.80
Normalized EBITDA 455.10 453.40 408.80 377.00
Current Tax - Domestic -26.80 -9.50 -0.30 21.50
Current Tax - Foreign 20.30 37.10 30.10 28.10
Current Tax - Total -6.50 27.60 29.80 49.60
Deferred Tax - Domestic 65.90 54.30 48.60 34.40
Deferred Tax - Foreign 5.20 8.40 4.60 5.30
Deferred Tax - Total 71.10 62.70 53.20 39.70
Income Tax - Total 64.60 90.30 83.00 89.30
Interest Cost - Domestic 0.60 0.60 0.50 0.70
Service Cost - Domestic 1.30 1.20 1.10 1.10
Expected Return on Assets - Domestic -- -- 0.00 0.00
Curtailments & Settlements - Domestic 0.70 0.20 1.00 2.70
Other Pension, Net - Domestic 19.30 18.80 14.90 10.90
Domestic Pension Plan Expense 21.90 20.80 17.50 15.40
Interest Cost - Foreign 4.60 5.40 6.10 7.00
Service Cost - Foreign 1.00 0.80 0.80 0.80
Expected Return on Assets - Foreign -8.40 -7.60 -8.40 -9.60
Curtailments & Settlements - Foreign -- -- -- --
Other Pension, Net - Foreign 0.30 0.60 0.80 0.70
Foreign Pension Plan Expense -2.50 -0.80 -0.70 -1.10
Interest Cost - Post-Retirement 0.10 0.20 0.20 0.20
Service Cost - Post-Retirement -- -- -- --
Curtailments & Settlements - Post-Retirement -- -- -- --
Other Post-Retirement, Net -2.40 -0.70 -0.60 -0.70
Post-Retirement Plan Expense -2.30 -0.50 -0.40 -0.50
Total Pension Expense 17.10 19.50 16.40 13.80
Discount Rate - Domestic -- -- -- 3.20
Discount Rate - Foreign -- -- -- 1.90
Discount Rate - Post-Retirement -- -- -- 3.20
Expected Rate of Return - Foreign -- -- -- 3.25
Compensation Rate - Domestic -- -- -- 3.00
Compensation Rate - Foreign -- -- -- 2.80
Total Plan Interest Cost 5.30 6.20 6.80 7.90
Total Plan Service Cost 2.30 2.00 1.90 1.90
Total Plan Expected Return -8.40 -7.60 -8.40 -9.60
Total Plan Other Expense 17.20 18.70 15.10 10.90

In millions of USD (except for per share items)

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