Income Statement
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Net Sales | 8,855.50 | 8,755.70 | 8,364.30 | 9,039.30 |
| Revenue | 8,855.50 | 8,755.70 | 8,364.30 | 9,039.30 |
| Total Revenue | 8,855.50 | 8,755.70 | 8,364.30 | 9,039.30 |
| Cost of Revenue | 6,309.20 | 6,225.00 | 6,086.80 | 6,635.10 |
| Cost of Revenue, Total | 6,309.20 | 6,225.00 | 6,086.80 | 6,635.10 |
| Gross Profit | 2,546.30 | 2,530.70 | 2,277.50 | 2,404.20 |
| Selling/General/Administrative Expense | 1,285.90 | 1,277.50 | 1,177.90 | 1,194.70 |
| Labor & Related Expense | -- | -- | -- | -- |
| Selling/General/Administrative Expenses, Total | 1,285.90 | 1,277.50 | 1,177.90 | 1,194.70 |
| Research & Development | 136.60 | 137.80 | 135.80 | 136.10 |
| Interest Expense - Operating | 135.40 | 117.00 | 119.00 | 84.10 |
| Interest Expense, Net - Operating | 135.40 | 117.00 | 119.00 | 84.10 |
| Investment Income - Operating | 23.30 | 19.20 | 1.50 | -13.50 |
| Interest/Investment Income - Operating | 23.30 | 19.20 | 1.50 | -13.50 |
| Interest Expense (Income), Net-Operating, Total | 158.70 | 136.20 | 120.50 | 70.60 |
| Restructuring Charge | 43.20 | 35.40 | 70.80 | 7.60 |
| Litigation | 9.20 | -6.20 | 64.30 | 6.30 |
| Impairment-Assets Held for Use | 4.00 | 6.50 | 8.60 | 0.10 |
| Loss (Gain) on Sale of Assets - Operating | -12.90 | -- | 0.50 | -1.40 |
| Other Unusual Expense (Income) | 10.70 | 16.70 | 35.20 | 0.30 |
| Unusual Expense (Income) | 54.20 | 52.40 | 179.40 | 12.90 |
| Total Operating Expense | 7,944.60 | 7,828.90 | 7,700.40 | 8,049.40 |
| Operating Income | 910.90 | 926.80 | 663.90 | 989.90 |
| Other Non-Operating Income (Expense) | 14.20 | 26.70 | 30.80 | 9.40 |
| Other, Net | 14.20 | 26.70 | 30.80 | 9.40 |
| Net Income Before Taxes | 925.10 | 953.50 | 694.70 | 999.30 |
| Income Tax – Total | 237.10 | 248.60 | 191.70 | 242.20 |
| Income After Tax | 688.00 | 704.90 | 503.00 | 757.10 |
| Equity In Affiliates | -- | -- | 0.00 | 0.00 |
| Net Income Before Extraordinary Items | 688.00 | 704.90 | 503.00 | 757.10 |
| Discontinued Operations | -- | -- | -- | -- |
| Extraordinary Item | -- | -- | -- | -- |
| Total Extraordinary Items | -- | -- | -- | -- |
| Net Income | 688.00 | 704.90 | 503.00 | 757.10 |
| Income Available to Common Excluding Extraordinary Items | 688.00 | 704.90 | 503.00 | 757.10 |
| Income Available to Common Stocks Including Extraordinary Items | 688.00 | 704.90 | 503.00 | 757.10 |
| Basic Weighted Average Shares | 78.10 | 80.40 | 80.70 | 81.60 |
| Basic EPS Excluding Extraordinary Items | 8.81 | 8.77 | 6.23 | 9.28 |
| Basic EPS Including Extraordinary Items | 8.81 | 8.77 | 6.23 | 9.28 |
| Diluted Net Income | 688.00 | 704.90 | 503.00 | 757.10 |
| Diluted Weighted Average Shares | 78.30 | 80.70 | 81.10 | 82.20 |
| Diluted EPS Excluding Extraordinary Items | 8.79 | 8.73 | 6.20 | 9.21 |
| Diluted EPS Including Extraordinary Items | 8.79 | 8.73 | 6.20 | 9.21 |
| DPS - Common Stock Primary Issue | 3.70 | 3.45 | 3.18 | 2.93 |
| Gross Dividends - Common Stock | 228.40 | 277.50 | 256.70 | 238.90 |
| Total Special Items | 54.20 | 52.40 | 179.40 | 12.90 |
| Normalized Income Before Taxes | 979.30 | 1,005.90 | 874.10 | 1,012.20 |
| Effect of Special Items on Income Taxes | 13.89 | 13.66 | 49.50 | 3.13 |
| Income Taxes Excluding Impact of Special Items | 250.99 | 262.26 | 241.20 | 245.33 |
| Normalized Income After Taxes | 728.31 | 743.64 | 632.90 | 766.87 |
| Normalized Income Available to Common | 728.31 | 743.64 | 632.90 | 766.87 |
| Basic Normalized EPS | 9.33 | 9.25 | 7.84 | 9.40 |
| Diluted Normalized EPS | 9.30 | 9.21 | 7.80 | 9.33 |
| Amortization of Intangibles, Supplemental | 121.80 | 115.10 | 111.00 | 113.30 |
| Depreciation, Supplemental | 206.40 | 197.10 | 187.40 | 177.40 |
| Interest Expense, Supplemental | 135.40 | 117.00 | 119.00 | 84.10 |
| Interest Capitalized, Supplemental | -2.90 | -7.00 | -7.50 | -5.70 |
| Rental Expense, Supplemental | 77.70 | 75.10 | 73.60 | 70.80 |
| Stock-Based Compensation, Supplemental | 27.90 | 28.70 | 22.30 | 47.40 |
| Equity in Affiliates, Supplemental | -- | -- | 0.00 | 0.00 |
| Research & Development Expense, Supplemental | 136.60 | 137.80 | 135.80 | 136.10 |
| Audit-Related Fees, Supplemental | -- | 10.14 | 9.62 | 9.16 |
| Audit-Related Fees | -- | 0.38 | 0.21 | 0.20 |
| Tax Fees, Supplemental | -- | 3.85 | 3.84 | 4.27 |
| All Other Fees Paid to Auditor, Supplemental | -- | 0.02 | 0.02 | 0.02 |
| Gross Margin | 28.75 | 28.90 | 27.23 | 26.60 |
| Operating Margin | 10.29 | 10.59 | 7.94 | 10.95 |
| Pretax Margin | 10.45 | 10.89 | 8.31 | 11.06 |
| Effective Tax Rate | 25.63 | 26.07 | 27.59 | 24.24 |
| Net Profit Margin | 7.77 | 8.05 | 6.01 | 8.38 |
| Normalized EBIT | 1,123.80 | 1,115.40 | 963.80 | 1,073.40 |
| Normalized EBITDA | 1,452.00 | 1,427.60 | 1,262.20 | 1,364.10 |
| Current Tax - Domestic | 45.90 | 36.00 | 42.50 | 29.40 |
| Current Tax - Foreign | 205.30 | 214.90 | 160.80 | 177.70 |
| Current Tax - Local | 11.00 | 10.60 | 9.00 | 8.80 |
| Current Tax - Total | 262.20 | 261.50 | 212.30 | 215.90 |
| Deferred Tax - Domestic | -17.20 | -8.70 | -29.00 | 5.80 |
| Deferred Tax - Foreign | -6.60 | -0.90 | 11.90 | 19.60 |
| Deferred Tax - Local | -1.30 | -3.30 | -3.50 | 0.90 |
| Deferred Tax - Total | -25.10 | -12.90 | -20.60 | 26.30 |
| Other Tax | -- | -- | -- | -- |
| Income Tax - Total | 237.10 | 248.60 | 191.70 | 242.20 |
| Interest Cost - Domestic | -- | 2.20 | 2.40 | 1.20 |
| Service Cost - Domestic | -- | -- | -- | -- |
| Prior Service Cost - Domestic | -- | -- | 0.00 | 0.00 |
| Expected Return on Assets - Domestic | -- | -- | 0.00 | 0.00 |
| Actuarial Gains and Losses - Domestic | -- | 0.30 | 0.90 | -2.70 |
| Curtailments & Settlements - Domestic | -- | -- | 0.00 | 0.10 |
| Other Pension, Net - Domestic | -- | -- | -- | -- |
| Domestic Pension Plan Expense | -- | 2.50 | 3.30 | -1.40 |
| Interest Cost - Foreign | 26.20 | 24.10 | 24.70 | 10.80 |
| Service Cost - Foreign | 14.70 | 13.80 | 10.50 | 16.50 |
| Prior Service Cost - Foreign | -0.10 | -0.50 | -0.40 | -0.40 |
| Expected Return on Assets - Foreign | -36.60 | -37.40 | -33.20 | -21.90 |
| Actuarial Gains and Losses - Foreign | 1.50 | 0.40 | -2.10 | 2.50 |
| Curtailments & Settlements - Foreign | 0.00 | -0.10 | -0.10 | -0.10 |
| Transition Costs - Foreign | -- | -- | -- | -- |
| Foreign Pension Plan Expense | 5.70 | 0.30 | -0.60 | 7.40 |
| Interest Cost - Post-Retirement | -- | -- | -- | -- |
| Service Cost - Post-Retirement | -- | -- | -- | -- |
| Prior Service Cost - Post-Retirement | -- | -- | -- | -- |
| Actuarial Gains and Losses - Post-Retirement | -- | -- | -- | -- |
| Post-Retirement Plan Expense | -- | -- | -- | -- |
| Defined Contribution Expense - Domestic | -- | 31.90 | 30.30 | 27.30 |
| Total Pension Expense | 5.70 | 34.70 | 33.00 | 33.30 |
| Discount Rate - Domestic | -- | 4.86 | 5.06 | 2.19 |
| Discount Rate - Foreign | -- | 3.78 | 4.36 | 1.57 |
| Discount Rate - Post-Retirement | -- | -- | -- | -- |
| Expected Rate of Return - Domestic | -- | -- | -- | -- |
| Expected Rate of Return - Foreign | -- | 5.04 | 4.71 | 3.00 |
| Compensation Rate - Domestic | -- | -- | -- | -- |
| Compensation Rate - Foreign | -- | 2.73 | 2.75 | 2.33 |
| Total Plan Interest Cost | 26.20 | 26.30 | 27.10 | 12.00 |
| Total Plan Service Cost | 14.70 | 13.80 | 10.50 | 16.50 |
| Total Plan Expected Return | -36.60 | -37.40 | -33.20 | -21.90 |
| Total Plan Other Expense | -- | -- | -- | -- |
In millions of USD (except for per share items)
Source: LSEG