Fundamentals - Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Update)
Net Sales 1,955.70 1,941.20 1,948.80 1,557.10 1,510.40
Revenue 1,955.70 1,941.20 1,948.80 1,557.10 1,510.40
Total Revenue 1,955.70 1,941.20 1,948.80 1,557.10 1,510.40
Cost of Revenue 1,322.20 1,313.40 1,291.50 1,042.20 1,032.00
Cost of Revenue, Total 1,322.20 1,313.40 1,291.50 1,042.20 1,032.00
Gross Profit 633.50 627.80 657.30 514.90 478.40
Selling/General/Administrative Expense 379.80 359.80 375.00 288.40 259.70
Labor & Related Expense 10.10 8.80 17.00 19.40 16.00
Selling/General/Administrative Expenses, Total 389.90 368.60 392.00 307.80 275.70
Research & Development -- 23.80 23.50 21.00 20.00
Amortization of Intangibles, Operating 35.40 36.70 35.60 21.60 19.60
Depreciation/Amortization 35.40 36.70 35.60 21.60 19.60
Restructuring Charge 12.00 11.70 21.70 5.40 -0.40
Unusual Expense (Income) 12.00 11.70 21.70 5.40 -0.40
Total Operating Expense 1,759.50 1,754.20 1,764.30 1,398.00 1,346.90
Operating Income 196.20 187.00 184.50 159.10 163.50
Interest Expense - Non-Operating -43.20 -41.20 -41.10 -49.30 -44.50
Interest Expense, Net Non-Operating -43.20 -41.20 -41.10 -49.30 -44.50
Interest Income, Non-Operating 3.20 4.40 5.80 6.40 6.60
Investment Income, Non-Operating 0.10 -0.70 1.50 4.10 8.40
Interest/Investment Income, Non-Operating 3.30 3.70 7.30 10.50 15.00
Interest Income (Expense), Net Non-Operating -- -- -- -- --
Interest Income (Expense), Net-Non-Operating, Total -39.90 -37.50 -33.80 -38.80 -29.50
Other Non-Operating Income (Expense) 7.20 8.40 7.40 4.80 -2.60
Other, Net 7.20 8.40 7.40 4.80 -2.60
Net Income Before Taxes 163.50 157.90 158.10 125.10 131.40
Income Tax – Total 56.70 48.10 52.10 29.60 45.50
Income After Tax 106.80 109.80 106.00 95.50 85.90
Net Income Before Extraordinary Items 106.80 109.80 106.00 95.50 85.90
Discontinued Operations -- -- -- -- 0.00
Extraordinary Item -- -3.10 25.70 -- --
Total Extraordinary Items -- -3.10 25.70 -- 0.00
Net Income 106.80 106.70 131.70 95.50 85.90
Income Available to Common Excluding Extraordinary Items 106.80 109.80 106.00 95.50 85.90
Income Available to Common Stocks Including Extraordinary Items 106.80 106.70 131.70 95.50 85.90
Basic Weighted Average Shares 99.50 104.80 108.10 107.00 108.80
Basic EPS Excluding Extraordinary Items 1.07 1.05 0.98 0.89 0.79
Basic EPS Including Extraordinary Items 1.07 1.02 1.22 0.89 0.79
Dilution Adjustment -- -- -- -- 0.37
Diluted Net Income 106.80 106.70 131.70 95.50 86.27
Diluted Weighted Average Shares 101.00 107.00 110.90 109.20 110.60
Diluted EPS Excluding Extraordinary Items 1.06 1.03 0.96 0.87 0.78
Diluted EPS Including Extraordinary Items 1.06 1.00 1.19 0.87 0.78
DPS - Common Stock Primary Issue 0.25 0.24 -- -- 0.00
Gross Dividends - Common Stock 24.40 25.10 0.00 0.00 0.00
Total Special Items 12.00 11.70 21.70 5.40 -0.40
Normalized Income Before Taxes 175.50 169.60 179.80 130.50 131.00
Effect of Special Items on Income Taxes 4.16 3.56 7.15 1.28 -0.14
Income Taxes Excluding Impact of Special Items 60.86 51.66 59.25 30.88 45.36
Normalized Income After Taxes 114.64 117.94 120.55 99.62 85.64
Normalized Income Available to Common 114.64 117.94 120.55 99.62 85.64
Basic Normalized EPS 1.15 1.13 1.12 0.93 0.79
Diluted Normalized EPS 1.14 1.10 1.09 0.91 0.78
Amortization of Intangibles, Supplemental 35.40 36.70 35.60 21.60 19.60
Depreciation, Supplemental 34.90 34.00 35.60 30.40 32.40
Interest Expense, Supplemental 43.20 41.20 41.10 49.30 44.50
Rental Expense, Supplemental 29.60 33.00 30.90 24.20 21.20
Stock-Based Compensation, Supplemental 10.10 9.50 17.00 19.40 16.00
Advertising Expense, Supplemental 98.40 105.50 114.80 110.10 120.90
Equity in Affiliates, Supplemental -- 0.00 0.00 2.10 7.90
Research & Development Expense, Supplemental -- 23.80 23.50 21.00 20.00
Audit-Related Fees, Supplemental 3.64 3.93 5.62 2.88 2.29
Audit-Related Fees 0.03 0.09 0.01 0.11 0.00
Tax Fees, Supplemental 0.23 0.26 0.39 0.20 0.17
All Other Fees Paid to Auditor, Supplemental 0.00 0.02 0.04 0.43 0.26
Gross Margin 32.39 32.34 33.73 33.07 31.67
Operating Margin 10.03 9.63 9.47 10.22 10.82
Pretax Margin 8.36 8.13 8.11 8.03 8.70
Effective Tax Rate 34.68 30.46 32.95 23.66 34.63
Net Profit Margin 5.46 5.66 5.44 6.13 5.69
Normalized EBIT 208.20 198.70 206.20 164.50 163.10
Normalized EBITDA 278.50 269.40 277.40 216.50 215.10
Current Tax - Domestic 5.80 2.70 41.10 0.70 22.80
Current Tax - Foreign 42.20 25.80 6.50 22.90 4.60
Current Tax - Total 48.00 28.50 47.60 23.60 27.40
Deferred Tax - Domestic 8.40 8.00 2.30 3.50 2.10
Deferred Tax - Foreign 0.30 11.60 2.20 2.50 16.00
Deferred Tax - Total 8.70 19.60 4.50 6.00 18.10
Other Tax -- 2.70 -- -- --
Income Tax - Total 56.70 50.80 52.10 29.60 45.50
Interest Cost - Domestic 7.40 6.70 7.10 7.30 8.70
Service Cost - Domestic 1.30 1.60 1.40 1.30 1.60
Prior Service Cost - Domestic 0.40 0.40 0.40 0.40 0.40
Expected Return on Assets - Domestic -11.70 -11.80 -12.30 -11.90 -12.20
Actuarial Gains and Losses - Domestic 2.20 2.70 2.00 1.80 2.10
Curtailments & Settlements - Domestic 0.00 0.00 0.00 0.00 0.00
Domestic Pension Plan Expense -0.40 -0.40 -1.40 -1.10 0.60
Interest Cost - Foreign 13.40 12.90 13.40 10.30 12.90
Service Cost - Foreign 1.30 1.90 1.90 0.80 0.90
Prior Service Cost - Foreign 0.30 0.00 0.00 0.00 0.00
Expected Return on Assets - Foreign -20.50 -22.70 -21.80 -17.60 -21.90
Actuarial Gains and Losses - Foreign 3.30 3.40 3.00 2.30 2.40
Curtailments & Settlements - Foreign 0.00 -0.60 0.00 0.00 0.00
Foreign Pension Plan Expense -2.20 -5.10 -3.50 -4.20 -5.70
Interest Cost - Post-Retirement 0.20 0.20 0.20 0.20 0.40
Service Cost - Post-Retirement 0.00 0.10 0.00 0.10 0.10
Prior Service Cost - Post-Retirement 0.00 -0.10 0.00 0.00 -0.30
Expected Return on Assets - Post-Retirement 0.00 0.00 0.00 0.00 0.00
Actuarial Gains and Losses - Post-Retirement -0.40 -0.40 -0.40 -0.40 -0.40
Curtailments & Settlements - Post-Retirement 0.00 0.00 0.00 -0.60 0.00
Post-Retirement Plan Expense -0.20 -0.20 -0.20 -0.70 -0.20
Defined Contribution Expense - Domestic 12.40 13.30 13.40 11.30 8.70
Total Pension Expense 9.60 7.60 8.30 5.30 3.40
Discount Rate - Domestic 4.00 3.50 3.80 4.60 4.20
Discount Rate - Foreign 2.40 2.10 2.30 3.70 3.40
Discount Rate - Post-Retirement 3.60 3.20 3.40 3.90 3.70
Expected Rate of Return - Domestic 7.40 7.40 7.80 7.80 8.00
Expected Rate of Return - Foreign 5.00 5.00 5.50 6.00 6.50
Expected Rate of Return - Post-Retirement -- -- -- -- --
Compensation Rate - Foreign 3.00 2.80 3.10 3.00 3.00
Compensation Rate - Post-Retirement -- -- -- -- --
Total Plan Interest Cost 21.00 19.80 20.70 17.80 22.00
Total Plan Service Cost 2.60 3.60 3.30 2.20 2.60
Total Plan Expected Return -32.20 -34.50 -34.10 -29.50 -34.10
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