Income Statement

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update)
Net Sales 6,280.19 5,054.93 4,770.36 4,546.65
Revenue 6,280.19 5,054.93 4,770.36 4,546.65
Total Revenue 6,280.19 5,054.93 4,770.36 4,546.65
Cost of Revenue 4,612.65 3,832.11 3,613.41 3,426.40
Cost of Revenue, Total 4,612.65 3,832.11 3,613.41 3,426.40
Gross Profit 1,667.55 1,222.82 1,156.96 1,120.25
Selling/General/Administrative Expense 1,030.19 807.14 775.82 735.36
Selling/General/Administrative Expenses, Total 1,030.19 807.14 775.82 735.36
Depreciation 22.57 19.96 18.81 16.75
Amortization of Intangibles, Operating 5.56 5.95 5.70 5.35
Depreciation/Amortization 28.13 25.91 24.51 22.10
Investment Income - Operating -19.30 -11.26 -10.26 -9.28
Interest/Investment Income - Operating -19.30 -11.26 -10.26 -9.28
Interest Expense (Income), Net-Operating, Total -19.30 -11.26 -10.26 -9.28
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) -- -- -- --
Total Operating Expense 5,651.66 4,653.89 4,403.48 4,174.57
Operating Income 628.53 401.03 366.88 372.08
Interest Expense - Non-Operating -1.00 -1.24 -4.03 -2.74
Interest Expense, Net Non-Operating -1.00 -1.24 -4.03 -2.74
Interest Income (Expense), Net-Non-Operating, Total -1.00 -1.24 -4.03 -2.74
Net Income Before Taxes 627.53 399.80 362.85 369.34
Income Tax – Total 128.80 76.62 67.08 74.63
Income After Tax 498.74 323.17 295.78 294.71
Minority Interest -79.79 -53.59 -49.83 -53.60
Net Income Before Extraordinary Items 418.95 269.58 245.95 241.11
Extraordinary Item -- -- -- 1.82
Total Extraordinary Items -- -- -- 1.82
Net Income 418.95 269.58 245.95 242.93
Miscellaneous Earnings Adjustment -37.27 -23.14 -20.41 -19.79
Total Adjustments to Net Income -37.27 -23.14 -20.41 -19.79
Income Available to Common Excluding Extraordinary Items 381.67 246.44 225.54 221.32
Income Available to Common Stocks Including Extraordinary Items 381.67 246.44 225.54 223.14
Basic Weighted Average Shares 35.24 35.07 34.64 34.32
Basic EPS Excluding Extraordinary Items 10.83 7.03 6.51 6.45
Basic EPS Including Extraordinary Items 10.83 7.03 6.51 6.50
Dilution Adjustment 0.05 -- -- 0.00
Diluted Net Income 381.72 246.44 225.54 223.14
Diluted Weighted Average Shares 35.42 35.15 34.68 34.37
Diluted EPS Excluding Extraordinary Items 10.78 7.01 6.50 6.44
Diluted EPS Including Extraordinary Items 10.78 7.01 6.50 6.49
DPS - Common Stock Primary Issue 7.63 6.93 6.40 5.60
Dividend per Share – Common Stock Issue 2 7.63 6.93 6.40 5.60
Gross Dividends - Common Stock 295.04 265.71 241.41 209.22
Total Special Items -- -- -- --
Normalized Income Before Taxes 627.53 399.80 362.85 369.34
Effect of Special Items on Income Taxes -- -- -- --
Income Taxes Excluding Impact of Special Items 128.80 76.62 67.08 74.63
Normalized Income After Taxes 498.74 323.17 295.78 294.71
Normalized Income Available to Common 381.67 246.44 225.54 221.32
Basic Normalized EPS 10.83 7.03 6.51 6.45
Diluted Normalized EPS 10.78 7.01 6.50 6.44
Amortization of Intangibles, Supplemental 5.56 5.95 5.70 5.35
Depreciation, Supplemental 22.57 19.96 18.81 16.75
Interest Expense, Supplemental 1.00 1.24 4.03 2.74
Rental Expense, Supplemental 90.74 82.54 84.89 84.54
Stock-Based Compensation, Supplemental 25.37 22.13 17.03 15.51
Advertising Expense, Supplemental 21.55 12.59 16.59 16.52
Equity in Affiliates, Supplemental 19.30 11.26 10.26 9.28
Minority Interest, Supplemental -79.79 -53.59 -49.83 -53.60
Audit-Related Fees, Supplemental -- 2.06 2.12 1.89
Audit-Related Fees -- 0.00 0.00 0.00
Tax Fees, Supplemental -- 0.57 0.37 0.27
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00
Gross Margin 26.55 24.19 24.25 24.64
Operating Margin 10.01 7.93 7.69 8.18
Pretax Margin 9.99 7.91 7.61 8.12
Effective Tax Rate 20.52 19.17 18.49 20.21
Net Profit Margin 6.08 4.88 4.73 4.87
Normalized EBIT 609.23 389.77 356.63 362.80
Normalized EBITDA 637.36 415.68 381.14 384.90
Current Tax - Domestic 91.16 58.90 -- --
Current Tax - Foreign 10.99 4.78 -- --
Current Tax - Local 20.70 12.91 -- --
Current Tax - Total -- -- 65.80 64.52
Current Tax - Total 122.86 76.58 65.80 64.52
Deferred Tax - Domestic 6.43 0.22 -- 10.11
Deferred Tax - Foreign -1.87 -0.20 -- --
Deferred Tax - Local 1.37 0.02 -- --
Deferred Tax - Total -- -- 1.28 --
Deferred Tax - Total 5.94 0.04 1.28 10.11
Income Tax - Total 128.80 76.62 67.08 74.63
Defined Contribution Expense - Domestic 5.15 4.54 4.27 2.95
Total Pension Expense 5.15 4.54 4.27 2.95

In millions of USD (except for per share items)

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