Income Statement

  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 6,226.00 5,886.00 5,627.00 4,262.00
Revenue 6,226.00 5,886.00 5,627.00 4,262.00
Total Revenue 6,226.00 5,886.00 5,627.00 4,262.00
Cost of Revenue 2,644.00 2,466.00 2,724.00 1,727.00
Cost of Revenue, Total 2,644.00 2,466.00 2,724.00 1,727.00
Gross Profit 3,582.00 3,420.00 2,903.00 2,535.00
Selling/General/Administrative Expense 609.00 555.00 525.00 502.00
Labor & Related Expense 1,003.00 938.00 786.00 707.00
Advertising Expense 51.00 57.00 39.00 39.00
Selling/General/Administrative Expenses, Total 1,663.00 1,550.00 1,350.00 1,248.00
Depreciation 258.00 278.00 202.00 190.00
Depreciation/Amortization 258.00 278.00 202.00 190.00
Restructuring Charge 15.00 31.00 48.00 39.00
Impairment-Assets Held for Use -- -- -- --
Other Unusual Expense (Income) 82.00 36.00 69.00 14.00
Unusual Expense (Income) 97.00 67.00 117.00 53.00
Total Operating Expense 4,662.00 4,361.00 4,393.00 3,218.00
Operating Income 1,564.00 1,525.00 1,234.00 1,044.00
Interest Expense - Non-Operating -129.00 -125.00 -101.00 -124.00
Interest Expense, Net Non-Operating -129.00 -125.00 -101.00 -124.00
Interest Income, Non-Operating 7.00 1.00 4.00 10.00
Investment Income, Non-Operating 31.00 133.00 75.00 89.00
Interest/Investment Income, Non-Operating 38.00 134.00 79.00 99.00
Interest Income (Expense), Net-Non-Operating, Total -91.00 9.00 -22.00 -25.00
Other Non-Operating Income (Expense) 2.00 -- -- --
Other, Net 2.00 -- -- --
Net Income Before Taxes 1,475.00 1,534.00 1,212.00 1,019.00
Income Tax – Total 352.00 347.00 279.00 245.00
Income After Tax 1,123.00 1,187.00 933.00 774.00
Minority Interest 2.00 -- -- --
Net Income Before Extraordinary Items 1,125.00 1,187.00 933.00 774.00
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 1,125.00 1,187.00 933.00 774.00
Income Available to Common Excluding Extraordinary Items 1,125.00 1,187.00 933.00 774.00
Income Available to Common Stocks Including Extraordinary Items 1,125.00 1,187.00 933.00 774.00
Basic Weighted Average Shares 492.40 497.70 493.25 494.80
Basic EPS Excluding Extraordinary Items 2.28 2.38 1.89 1.56
Basic EPS Including Extraordinary Items 2.28 2.38 1.89 1.56
Diluted Net Income 1,125.00 1,187.00 933.00 774.00
Diluted Weighted Average Shares 497.90 505.09 500.72 500.92
Diluted EPS Excluding Extraordinary Items 2.26 2.35 1.86 1.55
Diluted EPS Including Extraordinary Items 2.26 2.35 1.86 1.55
DPS - Common Stock Primary Issue 0.78 0.70 0.65 0.62
Gross Dividends - Common Stock -- 350.00 320.00 305.00
Litigation Charge, Supplemental -- 33.00 -- --
Other Unusual Expense (Income), Supplemental -- -71.00 -- --
Non-Recurring Items, Total -- -38.00 -- --
Total Special Items 97.00 29.00 117.00 53.00
Normalized Income Before Taxes 1,572.00 1,563.00 1,329.00 1,072.00
Effect of Special Items on Income Taxes 66.00 -61.00 -77.00 43.00
Income Taxes Excluding Impact of Special Items 418.00 286.00 202.00 288.00
Normalized Income After Taxes 1,154.00 1,277.00 1,127.00 784.00
Normalized Income Available to Common 1,156.00 1,277.00 1,127.00 784.00
Basic Normalized EPS 2.35 2.57 2.28 1.58
Diluted Normalized EPS 2.32 2.53 2.25 1.57
Amortization of Intangibles, Supplemental 153.00 170.00 103.00 101.00
Depreciation, Supplemental 105.00 108.00 99.00 89.00
Interest Expense, Supplemental 129.00 125.00 101.00 124.00
Rental Expense, Supplemental -- 85.00 85.00 102.00
Stock-Based Compensation, Supplemental -- 90.00 87.00 79.00
Advertising Expense, Supplemental 51.00 57.00 39.00 39.00
Equity in Affiliates, Supplemental 31.00 52.00 70.00 84.00
Minority Interest, Supplemental 2.00 -- -- --
Audit-Related Fees, Supplemental -- 5.35 5.02 5.83
Audit-Related Fees -- 1.27 1.07 1.11
Tax Fees, Supplemental -- 0.45 0.17 0.30
All Other Fees Paid to Auditor, Supplemental -- 2.10 1.28 1.30
Gross Margin 57.53 58.10 51.59 59.48
Operating Margin 25.12 25.91 21.93 24.50
Pretax Margin 23.69 26.06 21.54 23.91
Effective Tax Rate 23.86 22.62 23.02 24.04
Net Profit Margin 18.07 20.17 16.58 18.16
Normalized EBIT 1,661.00 1,554.00 1,351.00 1,097.00
Normalized EBITDA 1,919.00 1,832.00 1,553.00 1,287.00
Current Tax - Domestic -- 144.00 114.00 120.00
Current Tax - Foreign -- 64.00 74.00 50.00
Current Tax - Local -- 45.00 50.00 40.00
Current Tax - Total -- 253.00 238.00 210.00
Deferred Tax - Domestic -- 82.00 37.00 27.00
Deferred Tax - Foreign -- -10.00 -2.00 1.00
Deferred Tax - Local -- 22.00 6.00 7.00
Deferred Tax - Total -- 94.00 41.00 35.00
Income Tax - Total -- 347.00 279.00 245.00
Interest Cost - Domestic -- -- -- --
Expected Return on Assets - Domestic -- -- -- --
Actuarial Gains and Losses - Domestic -- -- -- --
Curtailments & Settlements - Domestic -- -- -- --
Domestic Pension Plan Expense -- -- -- --
Defined Contribution Expense - Domestic -- 40.00 37.00 13.00
Defined Contribution Expense - Foreign -- -- -- --
Total Pension Expense -- 40.00 37.00 13.00
Discount Rate - Post-Retirement -- -- -- --
Expected Rate of Return - Domestic -- -- -- --
Total Plan Interest Cost -- -- -- --
Total Plan Expected Return -- -- -- --

In millions of USD (except for per share items)

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