Income Statement

  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 7,274.34 6,280.19 5,054.93 4,770.36
Revenue 7,274.34 6,280.19 5,054.93 4,770.36
Total Revenue 7,274.34 6,280.19 5,054.93 4,770.36
Cost of Revenue 5,244.06 4,612.65 3,832.11 3,613.41
Cost of Revenue, Total 5,244.06 4,612.65 3,832.11 3,613.41
Gross Profit 2,030.29 1,667.55 1,222.82 1,156.96
Selling/General/Administrative Expense 1,189.70 1,030.19 807.14 775.82
Selling/General/Administrative Expenses, Total 1,189.70 1,030.19 807.14 775.82
Depreciation 26.97 22.57 19.96 18.81
Amortization of Intangibles, Operating 4.71 5.56 5.95 5.70
Depreciation/Amortization 31.68 28.13 25.91 24.51
Investment Income - Operating -22.67 -19.30 -11.26 -10.26
Interest/Investment Income - Operating -22.67 -19.30 -11.26 -10.26
Interest Expense (Income), Net-Operating, Total -22.67 -19.30 -11.26 -10.26
Total Operating Expense 6,442.77 5,651.66 4,653.89 4,403.48
Operating Income 831.58 628.53 401.03 366.88
Interest Expense - Non-Operating -2.17 -1.00 -1.24 -4.03
Interest Expense, Net Non-Operating -2.17 -1.00 -1.24 -4.03
Interest Income (Expense), Net-Non-Operating, Total -2.17 -1.00 -1.24 -4.03
Net Income Before Taxes 829.41 627.53 399.80 362.85
Income Tax – Total 125.72 128.80 76.62 67.08
Income After Tax 703.70 498.74 323.17 295.78
Minority Interest -102.53 -79.79 -53.59 -49.83
Net Income Before Extraordinary Items 601.17 418.95 269.58 245.95
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 601.17 418.95 269.58 245.95
Miscellaneous Earnings Adjustment -51.37 -37.27 -23.14 -20.41
Total Adjustments to Net Income -51.37 -37.27 -23.14 -20.41
Income Available to Common Excluding Extraordinary Items 549.80 381.67 246.44 225.54
Income Available to Common Stocks Including Extraordinary Items 549.80 381.67 246.44 225.54
Basic Weighted Average Shares 35.56 35.24 35.07 34.64
Basic EPS Excluding Extraordinary Items 15.46 10.83 7.03 6.51
Basic EPS Including Extraordinary Items 15.46 10.83 7.03 6.51
Dilution Adjustment 0.07 0.05 -- --
Diluted Net Income 549.87 381.72 246.44 225.54
Diluted Weighted Average Shares 35.68 35.42 35.15 34.68
Diluted EPS Excluding Extraordinary Items 15.41 10.78 7.01 6.50
Diluted EPS Including Extraordinary Items 15.41 10.78 7.01 6.50
DPS - Common Stock Primary Issue 8.55 7.63 6.93 6.40
Dividend per Share – Common Stock Issue 2 8.55 7.63 6.93 6.40
Gross Dividends - Common Stock 332.45 295.04 265.71 241.41
Normalized Income Before Taxes 829.41 627.53 399.80 362.85
Income Taxes Excluding Impact of Special Items 125.72 128.80 76.62 67.08
Normalized Income After Taxes 703.70 498.74 323.17 295.78
Normalized Income Available to Common 549.80 381.67 246.44 225.54
Basic Normalized EPS 15.46 10.83 7.03 6.51
Diluted Normalized EPS 15.41 10.78 7.01 6.50
Amortization of Intangibles, Supplemental 4.71 5.56 5.95 5.70
Depreciation, Supplemental 26.97 22.57 19.96 18.81
Interest Expense, Supplemental 2.17 1.00 1.24 4.03
Rental Expense, Supplemental 101.58 90.74 82.54 84.89
Stock-Based Compensation, Supplemental 28.82 25.37 22.13 17.03
Advertising Expense, Supplemental 25.88 21.55 12.59 16.59
Equity in Affiliates, Supplemental 22.67 19.30 11.26 10.26
Minority Interest, Supplemental -102.53 -79.79 -53.59 -49.83
Audit-Related Fees, Supplemental 2.96 2.62 2.06 2.12
Audit-Related Fees 0.00 0.00 0.00 0.00
Tax Fees, Supplemental 0.26 0.22 0.57 0.37
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 0.00
Gross Margin 27.91 26.55 24.19 24.25
Operating Margin 11.43 10.01 7.93 7.69
Pretax Margin 11.40 9.99 7.91 7.61
Effective Tax Rate 15.16 20.52 19.17 18.49
Net Profit Margin 7.56 6.08 4.88 4.73
Normalized EBIT 808.91 609.23 389.77 356.63
Normalized EBITDA 840.59 637.36 415.68 381.14
Current Tax - Domestic 71.48 91.16 58.90 48.36
Current Tax - Foreign 13.57 10.99 4.78 8.08
Current Tax - Local 27.20 20.70 12.91 9.36
Current Tax - Total -- -- -- --
Current Tax - Total 112.25 122.86 76.58 65.80
Deferred Tax - Domestic 10.77 6.43 0.22 2.60
Deferred Tax - Foreign -1.00 -1.87 -0.20 -1.77
Deferred Tax - Local 3.70 1.37 0.02 0.45
Deferred Tax - Total -- -- -- --
Deferred Tax - Total 13.47 5.94 0.04 1.28
Income Tax - Total 125.72 128.80 76.62 67.08
Defined Contribution Expense - Domestic 6.75 5.15 4.54 4.27
Total Pension Expense 6.75 5.15 4.54 4.27

In millions of USD (except for per share items)

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