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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