Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 4,546.65 4,341.96 4,220.70 4,113.24
Revenue 4,546.65 4,341.96 4,220.70 4,113.24
Total Revenue 4,546.65 4,341.96 4,220.70 4,113.24
Cost of Revenue 3,426.40 3,276.30 3,186.12 3,105.88
Cost of Revenue, Total 3,426.40 3,276.30 3,186.12 3,105.88
Gross Profit 1,120.25 1,065.66 1,034.58 1,007.36
Selling/General/Administrative Expense 735.36 693.64 668.89 651.49
Selling/General/Administrative Expenses, Total 735.36 693.64 668.89 651.49
Depreciation 16.75 16.77 14.85 13.80
Amortization of Intangibles, Operating 5.35 5.26 5.21 5.32
Depreciation/Amortization 22.10 22.03 20.07 19.12
Investment Income - Operating -9.28 -3.89 -- --
Interest/Investment Income - Operating -9.28 -3.89 -- --
Interest Expense (Income), Net-Operating, Total -9.28 -3.89 -- --
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) -- -- -- --
Total Operating Expense 4,174.57 3,988.08 3,875.07 3,776.49
Operating Income 372.08 353.87 345.63 336.75
Interest Expense - Non-Operating -2.74 -6.36 -3.71 -5.55
Interest Expense, Net Non-Operating -2.74 -6.36 -3.71 -5.55
Interest Income (Expense), Net-Non-Operating, Total -2.74 -6.36 -3.71 -5.55
Net Income Before Taxes 369.34 347.51 341.92 331.20
Income Tax – Total 74.63 100.17 105.94 104.68
Income After Tax 294.71 247.34 235.98 226.52
Minority Interest -53.60 -49.07 -53.17 -53.60
Net Income Before Extraordinary Items 241.11 198.27 182.81 172.93
Discontinued Operations -- -- -- --
Extraordinary Item 1.82 9.95 -- --
Total Extraordinary Items 1.82 9.95 -- --
Net Income 242.93 208.22 182.81 172.93
Miscellaneous Earnings Adjustment -19.79 -17.43 -14.81 -13.63
Total Adjustments to Net Income -19.79 -17.43 -14.81 -13.63
Income Available to Common Excluding Extraordinary Items 221.32 180.84 168.00 159.30
Income Available to Common Stocks Including Extraordinary Items 223.14 190.79 168.00 159.30
Basic Weighted Average Shares 34.32 32.82 32.58 32.44
Basic EPS Excluding Extraordinary Items 6.45 5.51 5.16 4.91
Basic EPS Including Extraordinary Items 6.50 5.81 5.16 4.91
Dilution Adjustment 0.00 0.00 -- 0.01
Diluted Net Income 223.14 190.79 168.00 159.30
Diluted Weighted Average Shares 34.37 32.86 32.62 32.48
Diluted EPS Excluding Extraordinary Items 6.44 5.50 5.15 4.90
Diluted EPS Including Extraordinary Items 6.49 5.81 5.15 4.90
DPS - Common Stock Primary Issue 5.60 4.60 3.60 2.80
Dividend per Share – Common Stock Issue 2 5.60 4.60 3.60 2.80
Gross Dividends - Common Stock 209.22 164.15 127.60 98.53
Total Special Items -- -- -- --
Normalized Income Before Taxes 369.34 347.51 341.92 331.20
Effect of Special Items on Income Taxes -- -- -- --
Income Taxes Excluding Impact of Special Items 74.63 100.17 105.94 104.68
Normalized Income After Taxes 294.71 247.34 235.98 226.52
Normalized Income Available to Common 221.32 180.84 168.00 159.30
Basic Normalized EPS 6.45 5.51 5.16 4.91
Diluted Normalized EPS 6.44 5.50 5.15 4.90
Amortization of Intangibles, Supplemental 5.35 5.26 5.21 5.32
Depreciation, Supplemental 16.75 16.77 14.85 13.80
Interest Expense, Supplemental 2.74 6.36 3.71 5.55
Rental Expense, Supplemental 84.54 84.08 83.26 82.58
Stock-Based Compensation, Supplemental 15.51 13.29 12.32 12.60
Advertising Expense, Supplemental 16.52 24.68 22.24 21.15
Equity in Affiliates, Supplemental 9.28 3.89 -- --
Minority Interest, Supplemental -53.60 -49.07 -53.17 -53.60
Audit-Related Fees, Supplemental 1.89 2.08 1.83 1.72
Audit-Related Fees 0.00 0.00 0.00 --
Tax Fees, Supplemental 0.27 0.23 0.15 0.24
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 0.00 --
Gross Margin 24.64 24.54 24.51 24.49
Operating Margin 8.18 8.15 8.19 8.19
Pretax Margin 8.12 8.00 8.10 8.05
Effective Tax Rate 20.21 28.83 30.98 31.61
Net Profit Margin 4.87 4.16 3.98 3.87
Normalized EBIT 362.80 349.99 345.63 336.75
Normalized EBITDA 384.90 372.02 365.70 355.87
Current Tax - Total 64.52 100.96 103.22 99.99
Current Tax - Total 64.52 100.96 103.22 99.99
Deferred Tax - Domestic 10.11 -0.78 -- --
Deferred Tax - Total -- -- 2.72 4.69
Deferred Tax - Total 10.11 -0.78 2.72 4.69
Income Tax - Total 74.63 100.17 105.94 104.68
Domestic Tax -- -- -- --
Foreign Tax -- -- -- --
Local Tax -- -- -- --
Income Tax by Region - Total -- -- -- --
Defined Contribution Expense - Domestic 2.95 2.43 2.35 1.96
Total Pension Expense 2.95 2.43 2.35 1.96

In millions of USD (except for per share items)

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