Fundamentals

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 3,722.80 3,435.30 2,963.70 2,493.70
Revenue 3,722.80 3,435.30 2,963.70 2,493.70
Total Revenue 3,722.80 3,435.30 2,963.70 2,493.70
Cost of Revenue 939.40 875.30 797.40 617.20
Cost of Revenue, Total 939.40 875.30 797.40 617.20
Gross Profit 2,783.40 2,560.00 2,166.30 1,876.50
Selling/General/Administrative Expense 1,042.20 945.10 866.70 816.40
Labor & Related Expense 46.30 40.70 38.00 34.30
Selling/General/Administrative Expenses, Total 1,088.50 985.80 904.70 850.70
Research & Development 622.20 552.60 443.30 383.10
Interest Expense - Operating -- 24.30 18.00 18.40
Interest Expense, Net - Operating -- 24.30 18.00 18.40
Interest Income - Operating -- -20.30 -10.80 -7.90
Investment Income - Operating -- -5.60 1.50 3.50
Interest/Investment Income - Operating -- -25.90 -9.30 -4.40
Interest Expense (Income), Net-Operating, Total -- -1.60 8.70 14.00
Restructuring Charge -7.10 59.90 34.50 0.00
Litigation 214.00 -73.30 32.60 7.00
Impairment-Assets Held for Use 116.20 -- -- --
Impairment-Assets Held for Sale -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- --
Other Unusual Expense (Income) -- -- -- --
Unusual Expense (Income) 323.10 -13.40 67.10 7.00
Other Operating Expense -- -- 0.00 0.00
Other, Net -5.70 1.70 4.60 -0.70
Other Operating Expenses, Total -5.70 1.70 4.60 -0.70
Total Operating Expense 2,967.50 2,400.40 2,225.80 1,871.30
Operating Income 755.30 1,034.90 737.90 622.40
Interest Expense - Non-Operating -33.40 -- -- --
Interest Expense, Net Non-Operating -33.40 -- -- --
Interest Income, Non-Operating 32.00 -- -- --
Investment Income, Non-Operating 18.70 -- -- --
Interest/Investment Income, Non-Operating 50.70 -- -- --
Interest Income (Expense), Net-Non-Operating, Total 17.30 -- -- --
Other Non-Operating Income (Expense) -11.20 -- -- --
Other, Net -11.20 -- -- --
Net Income Before Taxes 761.40 1,034.90 737.90 622.40
Income Tax – Total 23.40 157.20 168.40 127.50
Income After Tax 738.00 877.70 569.50 494.90
Net Income Before Extraordinary Items 738.00 877.70 569.50 494.90
Extraordinary Item -15.80 -294.10 -- --
Total Extraordinary Items -15.80 -294.10 -- --
Net Income 722.20 583.60 569.50 494.90
Income Available to Common Excluding Extraordinary Items 738.00 877.70 569.50 494.90
Income Available to Common Stocks Including Extraordinary Items 722.20 583.60 569.50 494.90
Basic Weighted Average Shares 209.20 210.90 213.00 215.50
Basic EPS Excluding Extraordinary Items 3.53 4.16 2.67 2.30
Basic EPS Including Extraordinary Items 3.45 2.77 2.67 2.30
Dilution Adjustment -- -- -- 0.78
Diluted Net Income 722.20 583.60 569.50 495.68
Diluted Weighted Average Shares 213.60 215.90 217.80 220.30
Diluted EPS Excluding Extraordinary Items 3.46 4.07 2.61 2.25
Diluted EPS Including Extraordinary Items 3.38 2.70 2.61 2.25
DPS - Common Stock Primary Issue -- -- -- --
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00
Total Special Items 323.10 -13.40 67.10 7.00
Normalized Income Before Taxes 1,084.50 1,021.50 805.00 629.40
Effect of Special Items on Income Taxes 9.93 -2.04 15.31 1.43
Income Taxes Excluding Impact of Special Items 33.33 155.16 183.71 128.93
Normalized Income After Taxes 1,051.17 866.34 621.29 500.47
Normalized Income Available to Common 1,051.17 866.34 621.29 500.47
Basic Normalized EPS 5.02 4.11 2.92 2.32
Diluted Normalized EPS 4.92 4.01 2.85 2.28
Amortization of Intangibles, Supplemental 2.50 7.80 7.60 7.10
Depreciation, Supplemental 74.90 74.10 63.60 58.70
Interest Expense, Supplemental 33.40 24.30 18.00 18.40
Rental Expense, Supplemental 27.00 27.30 22.90 22.50
Stock-Based Compensation, Supplemental 71.00 61.60 56.90 49.90
Equity in Affiliates, Supplemental -- -- -- --
Research & Development Expense, Supplemental 622.20 552.60 443.30 383.10
Audit-Related Fees, Supplemental -- 2.80 2.70 2.60
Audit-Related Fees -- 0.30 0.30 0.10
Tax Fees, Supplemental -- 1.50 1.90 2.60
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00
Gross Margin 74.77 74.52 73.09 75.25
Operating Margin 20.29 30.13 24.90 24.96
Pretax Margin 20.45 30.13 24.90 24.96
Effective Tax Rate 3.07 15.19 22.82 20.49
Net Profit Margin 19.82 25.55 19.22 19.85
Normalized EBIT 1,078.40 1,019.90 813.70 643.40
Normalized EBITDA 1,155.80 1,101.80 884.90 709.20
Current Tax - Domestic -4.90 33.40 153.40 102.40
Current Tax - Foreign 35.90 60.60 27.40 33.50
Current Tax - Local 13.60 32.80 12.10 7.40
Current Tax - Total 44.60 126.80 192.90 143.30
Deferred Tax - Domestic -16.10 42.60 -19.60 -12.50
Deferred Tax - Foreign 17.30 -8.40 -0.60 -0.70
Deferred Tax - Local -22.40 -3.80 -4.30 -2.60
Deferred Tax - Total -21.20 30.40 -24.50 -15.80
Income Tax - Total 23.40 157.20 168.40 127.50
Interest Cost - Domestic 0.80 1.00 1.20 1.50
Service Cost - Domestic 6.00 7.90 6.80 7.00
Prior Service Cost - Domestic -0.10 0.20 0.70 0.40
Expected Return on Assets - Domestic -1.30 -2.00 -1.30 -1.50
Actuarial Gains and Losses - Domestic 0.80 0.90 0.70 1.00
Curtailments & Settlements - Domestic -7.40 -6.30 0.00 0.60
Transition Costs - Domestic -- -- -- --
Domestic Pension Plan Expense -1.20 1.70 8.10 9.00
Defined Contribution Expense - Domestic -- -- -- --
Total Pension Expense -1.20 1.70 8.10 9.00
Discount Rate - Domestic -- -- 1.00 1.40
Expected Rate of Return - Domestic -- -- 1.60 1.90
Compensation Rate - Domestic -- -- 2.70 3.00
Pension Payment Rate - Domestic -- -- -- --
Total Plan Interest Cost 0.80 1.00 1.20 1.50
Total Plan Service Cost 6.00 7.90 6.80 7.00
Total Plan Expected Return -1.30 -2.00 -1.30 -1.50

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