Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update)
Net Sales 4,770.36 4,546.65 4,341.96 4,220.70
Revenue 4,770.36 4,546.65 4,341.96 4,220.70
Total Revenue 4,770.36 4,546.65 4,341.96 4,220.70
Cost of Revenue 3,613.41 3,426.40 3,276.30 3,186.12
Cost of Revenue, Total 3,613.41 3,426.40 3,276.30 3,186.12
Gross Profit 1,156.96 1,120.25 1,065.66 1,034.58
Selling/General/Administrative Expense 775.82 735.36 693.64 668.89
Selling/General/Administrative Expenses, Total 775.82 735.36 693.64 668.89
Depreciation 18.81 16.75 16.77 14.85
Amortization of Intangibles, Operating 5.70 5.35 5.26 5.21
Depreciation/Amortization 24.51 22.10 22.03 20.07
Investment Income - Operating -10.26 -9.28 -3.89 --
Interest/Investment Income - Operating -10.26 -9.28 -3.89 --
Interest Expense (Income), Net-Operating, Total -10.26 -9.28 -3.89 --
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) -- -- -- --
Total Operating Expense 4,403.48 4,174.57 3,988.08 3,875.07
Operating Income 366.88 372.08 353.87 345.63
Interest Expense - Non-Operating -4.03 -2.74 -6.36 -3.71
Interest Expense, Net Non-Operating -4.03 -2.74 -6.36 -3.71
Interest Income (Expense), Net-Non-Operating, Total -4.03 -2.74 -6.36 -3.71
Net Income Before Taxes 362.85 369.34 347.51 341.92
Income Tax – Total 67.08 74.63 100.17 105.94
Income After Tax 295.78 294.71 247.34 235.98
Minority Interest -49.83 -53.60 -49.07 -53.17
Net Income Before Extraordinary Items 245.95 241.11 198.27 182.81
Extraordinary Item -- 1.82 9.95 --
Total Extraordinary Items -- 1.82 9.95 --
Net Income 245.95 242.93 208.22 182.81
Miscellaneous Earnings Adjustment -20.41 -19.79 -17.43 -14.81
Total Adjustments to Net Income -20.41 -19.79 -17.43 -14.81
Income Available to Common Excluding Extraordinary Items 225.54 221.32 180.84 168.00
Income Available to Common Stocks Including Extraordinary Items 225.54 223.14 190.79 168.00
Basic Weighted Average Shares 34.64 34.32 32.82 32.58
Basic EPS Excluding Extraordinary Items 6.51 6.45 5.51 5.16
Basic EPS Including Extraordinary Items 6.51 6.50 5.81 5.16
Dilution Adjustment -- 0.00 0.00 --
Diluted Net Income 225.54 223.14 190.79 168.00
Diluted Weighted Average Shares 34.68 34.37 32.86 32.62
Diluted EPS Excluding Extraordinary Items 6.50 6.44 5.50 5.15
Diluted EPS Including Extraordinary Items 6.50 6.49 5.81 5.15
DPS - Common Stock Primary Issue 6.40 5.60 4.60 3.60
Dividend per Share – Common Stock Issue 2 6.40 5.60 4.60 3.60
Gross Dividends - Common Stock 241.41 209.22 164.15 127.60
Total Special Items -- -- -- --
Normalized Income Before Taxes 362.85 369.34 347.51 341.92
Effect of Special Items on Income Taxes -- -- -- --
Income Taxes Excluding Impact of Special Items 67.08 74.63 100.17 105.94
Normalized Income After Taxes 295.78 294.71 247.34 235.98
Normalized Income Available to Common 225.54 221.32 180.84 168.00
Basic Normalized EPS 6.51 6.45 5.51 5.16
Diluted Normalized EPS 6.50 6.44 5.50 5.15
Amortization of Intangibles, Supplemental 5.70 5.35 5.26 5.21
Depreciation, Supplemental 18.81 16.75 16.77 14.85
Interest Expense, Supplemental 4.03 2.74 6.36 3.71
Rental Expense, Supplemental 84.89 84.54 84.08 83.26
Stock-Based Compensation, Supplemental 17.03 15.51 13.29 12.32
Advertising Expense, Supplemental 16.59 16.52 24.68 22.24
Equity in Affiliates, Supplemental 10.26 9.28 3.89 --
Minority Interest, Supplemental -49.83 -53.60 -49.07 -53.17
Audit-Related Fees, Supplemental -- 1.89 2.08 1.83
Audit-Related Fees -- 0.00 0.00 0.00
Tax Fees, Supplemental -- 0.27 0.23 0.15
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00
Gross Margin 24.25 24.64 24.54 24.51
Operating Margin 7.69 8.18 8.15 8.19
Pretax Margin 7.61 8.12 8.00 8.10
Effective Tax Rate 18.49 20.21 28.83 30.98
Net Profit Margin 4.73 4.87 4.16 3.98
Normalized EBIT 356.63 362.80 349.99 345.63
Normalized EBITDA 381.14 384.90 372.02 365.70
Current Tax - Total 65.80 64.52 100.96 103.22
Current Tax - Total 65.80 64.52 100.96 103.22
Deferred Tax - Domestic -- 10.11 -0.78 --
Deferred Tax - Total 1.28 -- -- 2.72
Deferred Tax - Total 1.28 10.11 -0.78 2.72
Income Tax - Total 67.08 74.63 100.17 105.94
Domestic Tax -- -- -- --
Foreign Tax -- -- -- --
Local Tax -- -- -- --
Income Tax by Region - Total -- -- -- --
Defined Contribution Expense - Domestic 4.27 2.95 2.43 2.35
Total Pension Expense 4.27 2.95 2.43 2.35

In millions of USD (except for per share items)

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