Income Statement

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  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update)
Net Sales 6,064.00 6,226.00 5,886.00 5,627.00
Revenue 6,064.00 6,226.00 5,886.00 5,627.00
Total Revenue 6,064.00 6,226.00 5,886.00 5,627.00
Cost of Revenue 2,169.00 2,644.00 2,466.00 2,724.00
Cost of Revenue, Total 2,169.00 2,644.00 2,466.00 2,724.00
Gross Profit 3,895.00 3,582.00 3,420.00 2,903.00
Selling/General/Administrative Expense 637.00 593.00 555.00 525.00
Labor & Related Expense 1,082.00 1,003.00 938.00 786.00
Advertising Expense 47.00 51.00 57.00 39.00
Selling/General/Administrative Expenses, Total 1,766.00 1,647.00 1,550.00 1,350.00
Depreciation 117.00 258.00 278.00 202.00
Amortization of Intangibles, Operating 206.00 -- -- --
Depreciation/Amortization 323.00 258.00 278.00 202.00
Restructuring Charge 68.00 15.00 31.00 48.00
Impairment-Assets Held for Use 12.00 -- -- --
Other Unusual Expense (Income) 148.00 98.00 36.00 69.00
Unusual Expense (Income) 228.00 113.00 67.00 117.00
Total Operating Expense 4,486.00 4,662.00 4,361.00 4,393.00
Operating Income 1,578.00 1,564.00 1,525.00 1,234.00
Interest Expense - Non-Operating -284.00 -129.00 -125.00 -101.00
Interest Expense, Net Non-Operating -284.00 -129.00 -125.00 -101.00
Interest Income, Non-Operating 115.00 7.00 1.00 4.00
Investment Income, Non-Operating -7.00 33.00 133.00 75.00
Interest/Investment Income, Non-Operating 108.00 40.00 134.00 79.00
Interest Income (Expense), Net-Non-Operating, Total -176.00 -89.00 9.00 -22.00
Other Non-Operating Income (Expense) -1.00 -- -- --
Other, Net -1.00 -- -- --
Net Income Before Taxes 1,401.00 1,475.00 1,534.00 1,212.00
Income Tax – Total 344.00 352.00 347.00 279.00
Income After Tax 1,057.00 1,123.00 1,187.00 933.00
Minority Interest 2.00 2.00 -- --
Net Income Before Extraordinary Items 1,059.00 1,125.00 1,187.00 933.00
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 1,059.00 1,125.00 1,187.00 933.00
Income Available to Common Excluding Extraordinary Items 1,059.00 1,125.00 1,187.00 933.00
Income Available to Common Stocks Including Extraordinary Items 1,059.00 1,125.00 1,187.00 933.00
Basic Weighted Average Shares 504.91 492.42 497.70 493.25
Basic EPS Excluding Extraordinary Items 2.10 2.28 2.38 1.89
Basic EPS Including Extraordinary Items 2.10 2.28 2.38 1.89
Diluted Net Income 1,059.00 1,125.00 1,187.00 933.00
Diluted Weighted Average Shares 508.39 497.86 505.09 500.72
Diluted EPS Excluding Extraordinary Items 2.08 2.26 2.35 1.86
Diluted EPS Including Extraordinary Items 2.08 2.26 2.35 1.86
DPS - Common Stock Primary Issue 0.86 0.78 0.70 0.65
Gross Dividends - Common Stock 441.00 383.00 350.00 320.00
Impairment-Assets Held for Use, Supplemental 25.00 -- -- --
Litigation Charge, Supplemental -- 1.00 33.00 --
Other Unusual Expense (Income), Supplemental 30.00 27.00 -71.00 --
Non-Recurring Items, Total 55.00 28.00 -38.00 --
Total Special Items 283.00 141.00 29.00 117.00
Normalized Income Before Taxes 1,684.00 1,616.00 1,563.00 1,329.00
Effect of Special Items on Income Taxes -134.00 -66.00 -61.00 -77.00
Income Taxes Excluding Impact of Special Items 210.00 286.00 286.00 202.00
Normalized Income After Taxes 1,474.00 1,330.00 1,277.00 1,127.00
Normalized Income Available to Common 1,476.00 1,332.00 1,277.00 1,127.00
Basic Normalized EPS 2.92 2.71 2.57 2.28
Diluted Normalized EPS 2.90 2.68 2.53 2.25
Amortization of Intangibles, Supplemental 206.00 153.00 170.00 103.00
Depreciation, Supplemental 117.00 105.00 108.00 99.00
Interest Expense, Supplemental 284.00 129.00 125.00 101.00
Rental Expense, Supplemental 88.00 75.00 85.00 85.00
Stock-Based Compensation, Supplemental 122.00 106.00 90.00 87.00
Advertising Expense, Supplemental 47.00 51.00 57.00 39.00
Equity in Affiliates, Supplemental -7.00 31.00 52.00 70.00
Minority Interest, Supplemental 2.00 2.00 -- --
Audit-Related Fees, Supplemental -- 6.76 5.35 5.02
Audit-Related Fees -- 1.92 1.27 1.07
Tax Fees, Supplemental -- 0.44 0.45 0.17
All Other Fees Paid to Auditor, Supplemental -- 0.32 2.10 1.28
Gross Margin 64.23 57.53 58.10 51.59
Operating Margin 26.02 25.12 25.91 21.93
Pretax Margin 23.10 23.69 26.06 21.54
Effective Tax Rate 24.55 23.86 22.62 23.02
Net Profit Margin 17.46 18.07 20.17 16.58
Normalized EBIT 1,861.00 1,705.00 1,554.00 1,351.00
Normalized EBITDA 2,184.00 1,963.00 1,832.00 1,553.00
Current Tax - Domestic 145.00 170.00 144.00 114.00
Current Tax - Foreign 79.00 77.00 64.00 74.00
Current Tax - Local 52.00 67.00 45.00 50.00
Current Tax - Total 276.00 314.00 253.00 238.00
Deferred Tax - Domestic 51.00 36.00 82.00 37.00
Deferred Tax - Foreign 9.00 -4.00 -10.00 -2.00
Deferred Tax - Local 8.00 6.00 22.00 6.00
Deferred Tax - Total 68.00 38.00 94.00 41.00
Income Tax - Total 344.00 352.00 347.00 279.00
Interest Cost - Domestic -- -- -- --
Expected Return on Assets - Domestic -- -- -- --
Actuarial Gains and Losses - Domestic -- -- -- --
Curtailments & Settlements - Domestic -- -- -- --
Domestic Pension Plan Expense -- -- -- --
Defined Contribution Expense - Domestic 53.00 41.00 40.00 37.00
Defined Contribution Expense - Foreign -- -- -- --
Total Pension Expense 53.00 41.00 40.00 37.00
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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