Fundamentals
| Year Ending Dec 2020 (Update) | Year Ending Dec 2019 (Update) | Year Ending Dec 2018 (Update) | Year Ending Dec 2017 (Update) | Year Ending Dec 2016 (Update) | Year Ending Dec 2015 (Update) | Year Ending Dec 2014 (Update) | Year Ending Dec 2013 (Restated) | Year Ending Dec 2012 (Restated) | Year Ending Dec 2011 (Update) | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4,386.30 | 4,348.00 | 3,722.80 | 3,435.30 | 2,963.70 | 2,493.70 | 2,322.90 | 2,045.50 | 1,899.60 | 1,678.60 |
| Revenue | 4,386.30 | 4,348.00 | 3,722.80 | 3,435.30 | 2,963.70 | 2,493.70 | 2,322.90 | 2,045.50 | 1,899.60 | 1,678.60 |
| Total Revenue | 4,386.30 | 4,348.00 | 3,722.80 | 3,435.30 | 2,963.70 | 2,493.70 | 2,322.90 | 2,045.50 | 1,899.60 | 1,678.60 |
| Cost of Revenue | 1,080.60 | 1,114.40 | 939.40 | 875.30 | 797.40 | 617.20 | 625.60 | 516.60 | 491.00 | 489.80 |
| Cost of Revenue, Total | 1,080.60 | 1,114.40 | 939.40 | 875.30 | 797.40 | 617.20 | 625.60 | 516.60 | 491.00 | 489.80 |
| Gross Profit | 3,305.70 | 3,233.60 | 2,783.40 | 2,560.00 | 2,166.30 | 1,876.50 | 1,697.30 | 1,528.90 | 1,408.60 | 1,188.80 |
| Selling/General/Administrative Expense | 1,171.80 | 1,189.00 | 1,042.20 | 945.10 | 866.70 | 816.40 | 823.10 | 698.70 | 666.20 | 642.40 |
| Labor & Related Expense | 56.60 | 51.20 | 46.30 | 40.70 | 38.00 | 34.30 | 34.90 | 34.70 | 31.20 | -- |
| Selling/General/Administrative Expenses, Total | 1,228.40 | 1,240.20 | 1,088.50 | 985.80 | 904.70 | 850.70 | 858.00 | 733.40 | 697.40 | 642.40 |
| Research & Development | 760.70 | 752.70 | 622.20 | 552.60 | 443.30 | 383.10 | 346.50 | 323.00 | 291.30 | 246.30 |
| Interest Expense - Operating | -- | -- | -- | 24.30 | 18.00 | 18.40 | 21.60 | 5.80 | 4.40 | 3.10 |
| Interest Expense, Net - Operating | -- | -- | -- | 24.30 | 18.00 | 18.40 | 21.60 | 5.80 | 4.40 | 3.10 |
| Interest Income - Operating | -- | -- | -- | -20.30 | -10.80 | -7.90 | -6.40 | -4.60 | -4.80 | -3.40 |
| Investment Income - Operating | -- | -- | -- | -5.60 | 1.50 | 3.50 | 2.10 | 5.90 | 1.90 | -3.50 |
| Interest/Investment Income - Operating | -- | -- | -- | -25.90 | -9.30 | -4.40 | -4.30 | 1.30 | -2.90 | -6.90 |
| Interest Expense (Income), Net-Operating, Total | -- | -- | -- | -1.60 | 8.70 | 14.00 | 17.30 | 7.10 | 1.50 | -3.80 |
| Restructuring Charge | 0.00 | 0.00 | -7.10 | 59.90 | 34.50 | 0.00 | 0.00 | 10.40 | 9.00 | 5.50 |
| Litigation | 405.40 | 33.40 | 214.00 | -73.30 | 32.60 | 7.00 | -744.10 | -61.50 | 14.40 | 3.30 |
| Impairment-Assets Held for Use | -- | -- | 116.20 | -- | -- | -- | -- | -- | -- | -- |
| Impairment-Assets Held for Sale | -- | -- | -- | -- | -- | -- | 0.00 | 5.90 | 0.00 | -- |
| Loss (Gain) on Sale of Assets - Operating | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 |
| Other Unusual Expense (Income) | 0.00 | 66.60 | -- | -- | -- | -- | 70.70 | 0.00 | 7.00 | 12.80 |
| Unusual Expense (Income) | 405.40 | 100.00 | 323.10 | -13.40 | 67.10 | 7.00 | -673.40 | -45.20 | 30.40 | 21.60 |
| Other Operating Expense | -- | -- | -- | -- | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | -- |
| Other, Net | 13.60 | -6.10 | -5.70 | 1.70 | 4.60 | -0.70 | 3.90 | -0.60 | -0.20 | -1.30 |
| Other Operating Expenses, Total | 13.60 | -6.10 | -5.70 | 1.70 | 4.60 | -0.70 | 4.90 | -0.60 | -0.20 | -1.30 |
| Total Operating Expense | 3,488.70 | 3,201.20 | 2,967.50 | 2,400.40 | 2,225.80 | 1,871.30 | 1,178.90 | 1,534.30 | 1,511.40 | 1,395.00 |
| Operating Income | 897.60 | 1,146.80 | 755.30 | 1,034.90 | 737.90 | 622.40 | 1,144.00 | 511.20 | 388.20 | 283.60 |
| Interest Expense - Non-Operating | -15.80 | -27.30 | -33.40 | -- | -- | -- | -- | -- | -- | -- |
| Interest Expense, Net Non-Operating | -15.80 | -27.30 | -33.40 | -- | -- | -- | -- | -- | -- | -- |
| Interest Income, Non-Operating | 23.40 | 32.20 | 32.00 | -- | -- | -- | -- | -- | -- | -- |
| Investment Income, Non-Operating | 12.90 | 16.40 | 18.70 | -- | -- | -- | -- | -- | -- | -- |
| Interest/Investment Income, Non-Operating | 36.30 | 48.60 | 50.70 | -- | -- | -- | -- | -- | -- | -- |
| Interest Income (Expense), Net-Non-Operating, Total | 20.50 | 21.30 | 17.30 | -- | -- | -- | -- | -- | -- | -- |
| Other Non-Operating Income (Expense) | -1.40 | -1.60 | -11.20 | -- | -- | -- | -- | -- | -- | -- |
| Other, Net | -1.40 | -1.60 | -11.20 | -- | -- | -- | -- | -- | -- | -- |
| Net Income Before Taxes | 916.70 | 1,166.50 | 761.40 | 1,034.90 | 737.90 | 622.40 | 1,144.00 | 511.20 | 388.20 | 283.60 |
| Income Tax – Total | 93.30 | 116.80 | 23.40 | 157.20 | 168.40 | 127.50 | 332.90 | 122.10 | 96.70 | 46.90 |
| Income After Tax | 823.40 | 1,049.70 | 738.00 | 877.70 | 569.50 | 494.90 | 811.10 | 389.10 | 291.50 | 236.70 |
| Net Income Before Extraordinary Items | 823.40 | 1,049.70 | 738.00 | 877.70 | 569.50 | 494.90 | 811.10 | 389.10 | 291.50 | 236.70 |
| Extraordinary Item | -- | -2.80 | -15.80 | -294.10 | -- | -- | -- | -- | -- | -- |
| Total Extraordinary Items | -- | -2.80 | -15.80 | -294.10 | -- | -- | -- | -- | -- | -- |
| Net Income | 823.40 | 1,046.90 | 722.20 | 583.60 | 569.50 | 494.90 | 811.10 | 389.10 | 291.50 | 236.70 |
| Income Available to Common Excluding Extraordinary Items | 823.40 | 1,049.70 | 738.00 | 877.70 | 569.50 | 494.90 | 811.10 | 389.10 | 291.50 | 236.70 |
| Income Available to Common Stocks Including Extraordinary Items | 823.40 | 1,046.90 | 722.20 | 583.60 | 569.50 | 494.90 | 811.10 | 389.10 | 291.50 | 236.70 |
| Basic Weighted Average Shares | 622.60 | 624.91 | 627.61 | 632.71 | 639.01 | 646.51 | 639.01 | 670.21 | 689.41 | 687.61 |
| Basic EPS Excluding Extraordinary Items | 1.32 | 1.68 | 1.18 | 1.39 | 0.89 | 0.77 | 1.27 | 0.58 | 0.42 | 0.34 |
| Basic EPS Including Extraordinary Items | 1.32 | 1.68 | 1.15 | 0.92 | 0.89 | 0.77 | 1.27 | 0.58 | 0.42 | 0.34 |
| Dilution Adjustment | -- | -- | -- | -- | -- | 0.78 | -- | -- | -- | 0.00 |
| Diluted Net Income | 823.40 | 1,046.90 | 722.20 | 583.60 | 569.50 | 495.68 | 811.10 | 389.10 | 291.50 | 236.70 |
| Diluted Weighted Average Shares | 631.90 | 636.61 | 640.81 | 647.71 | 653.41 | 660.91 | 651.01 | 682.81 | 709.81 | 716.41 |
| Diluted EPS Excluding Extraordinary Items | 1.30 | 1.65 | 1.15 | 1.36 | 0.87 | 0.75 | 1.25 | 0.57 | 0.41 | 0.33 |
| Diluted EPS Including Extraordinary Items | 1.30 | 1.64 | 1.13 | 0.90 | 0.87 | 0.75 | 1.25 | 0.57 | 0.41 | 0.33 |
| DPS - Common Stock Primary Issue | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Gross Dividends - Common Stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Special Items | 405.40 | 100.00 | 323.10 | -13.40 | 67.10 | 7.00 | -673.40 | -45.20 | 30.40 | 21.60 |
| Normalized Income Before Taxes | 1,322.10 | 1,266.50 | 1,084.50 | 1,021.50 | 805.00 | 629.40 | 470.60 | 466.00 | 418.60 | 305.20 |
| Effect of Special Items on Income Taxes | 41.26 | 10.01 | 9.93 | -2.04 | 15.31 | 1.43 | -195.96 | -10.80 | 7.57 | 3.57 |
| Income Taxes Excluding Impact of Special Items | 134.56 | 126.81 | 33.33 | 155.16 | 183.71 | 128.93 | 136.94 | 111.30 | 104.27 | 50.47 |
| Normalized Income After Taxes | 1,187.54 | 1,139.69 | 1,051.17 | 866.34 | 621.29 | 500.47 | 333.66 | 354.70 | 314.33 | 254.73 |
| Normalized Income Available to Common | 1,187.54 | 1,139.69 | 1,051.17 | 866.34 | 621.29 | 500.47 | 333.66 | 354.70 | 314.33 | 254.73 |
| Basic Normalized EPS | 1.91 | 1.82 | 1.67 | 1.37 | 0.97 | 0.77 | 0.52 | 0.53 | 0.46 | 0.37 |
| Diluted Normalized EPS | 1.88 | 1.79 | 1.64 | 1.34 | 0.95 | 0.76 | 0.51 | 0.52 | 0.44 | 0.36 |
| Amortization of Intangibles, Supplemental | 5.40 | 4.60 | 2.50 | 7.80 | 7.60 | 7.10 | 8.40 | 9.90 | 9.70 | 14.10 |
| Depreciation, Supplemental | 101.80 | 84.70 | 74.90 | 74.10 | 63.60 | 58.70 | 60.20 | 53.10 | 44.00 | 44.00 |
| Interest Expense, Supplemental | 15.80 | 27.30 | 33.40 | 24.30 | 18.00 | 18.40 | 21.60 | 5.80 | 4.40 | 3.10 |
| Rental Expense, Supplemental | 30.50 | 27.90 | 27.00 | 27.30 | 22.90 | 22.50 | 22.90 | 25.90 | 23.90 | 21.50 |
| Stock-Based Compensation, Supplemental | 92.60 | 81.30 | 71.00 | 61.60 | 56.90 | 49.90 | 48.30 | 47.40 | 42.10 | 35.00 |
| Equity in Affiliates, Supplemental | -- | -- | -- | -- | -- | -- | -- | -- | -- | 5.40 |
| Research & Development Expense, Supplemental | 760.70 | 752.70 | 622.20 | 552.60 | 443.30 | 383.10 | 346.50 | 323.00 | 291.30 | 246.30 |
| Audit-Related Fees, Supplemental | -- | 3.50 | 3.40 | 2.80 | 2.70 | 2.60 | 2.30 | 2.30 | -- | 2.30 |
| Audit-Related Fees | -- | 0.30 | 0.30 | 0.30 | 0.30 | 0.10 | 0.10 | 0.00 | -- | 0.00 |
| Tax Fees, Supplemental | -- | 1.50 | 1.30 | 1.50 | 1.90 | 2.60 | 1.35 | 1.20 | -- | 1.20 |
| All Other Fees Paid to Auditor, Supplemental | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | 0.00 |
| Gross Margin | 75.36 | 74.37 | 74.77 | 74.52 | 73.09 | 75.25 | 73.07 | 74.74 | 74.15 | 70.82 |
| Operating Margin | 20.46 | 26.38 | 20.29 | 30.13 | 24.90 | 24.96 | 49.25 | 24.99 | 20.44 | 16.90 |
| Pretax Margin | 20.90 | 26.83 | 20.45 | 30.13 | 24.90 | 24.96 | 49.25 | 24.99 | 20.44 | 16.90 |
| Effective Tax Rate | 10.18 | 10.01 | 3.07 | 15.19 | 22.82 | 20.49 | 29.10 | 23.88 | 24.91 | 16.54 |
| Net Profit Margin | 18.77 | 24.14 | 19.82 | 25.55 | 19.22 | 19.85 | 34.92 | 19.02 | 15.35 | 14.10 |
| Normalized EBIT | 1,303.00 | 1,246.80 | 1,078.40 | 1,019.90 | 813.70 | 643.40 | 487.90 | 473.10 | 420.10 | 301.40 |
| Normalized EBITDA | 1,410.20 | 1,336.10 | 1,155.80 | 1,101.80 | 884.90 | 709.20 | 556.50 | 536.10 | 473.80 | 359.50 |
| Current Tax - Domestic | 23.40 | 28.50 | -4.90 | 33.40 | 153.40 | 102.40 | 341.50 | 42.50 | 87.20 | 29.10 |
| Current Tax - Foreign | 73.90 | 29.10 | 35.90 | 60.60 | 27.40 | 33.50 | 34.80 | 27.90 | 31.60 | 25.00 |
| Current Tax - Local | 48.20 | 48.70 | 13.60 | 32.80 | 12.10 | 7.40 | 23.30 | 5.70 | 5.90 | 3.00 |
| Current Tax - Total | 145.50 | 106.30 | 44.60 | 126.80 | 192.90 | 143.30 | 399.60 | 76.10 | 124.70 | 57.10 |
| Deferred Tax - Domestic | 11.00 | 28.30 | -16.10 | 42.60 | -19.60 | -12.50 | -46.40 | 39.80 | -24.90 | -6.40 |
| Deferred Tax - Foreign | -30.30 | 0.50 | 17.30 | -8.40 | -0.60 | -0.70 | -12.20 | 5.40 | -1.00 | -5.00 |
| Deferred Tax - Local | -32.90 | -18.30 | -22.40 | -3.80 | -4.30 | -2.60 | -8.10 | 0.80 | -2.10 | 1.20 |
| Deferred Tax - Total | -52.20 | 10.50 | -21.20 | 30.40 | -24.50 | -15.80 | -66.70 | 46.00 | -28.00 | -10.20 |
| Income Tax - Total | 93.30 | 116.80 | 23.40 | 157.20 | 168.40 | 127.50 | 332.90 | 122.10 | 96.70 | 46.90 |
| Interest Cost - Domestic | 0.50 | 0.90 | 0.80 | 1.00 | 1.20 | 1.50 | 2.20 | -- | -- | 2.20 |
| Service Cost - Domestic | 6.30 | 5.20 | 6.00 | 7.90 | 6.80 | 7.00 | 6.30 | -- | -- | 6.60 |
| Prior Service Cost - Domestic | -0.70 | -0.20 | -0.10 | 0.20 | 0.70 | 0.40 | -0.30 | -- | -- | -0.40 |
| Expected Return on Assets - Domestic | -1.00 | -1.40 | -1.30 | -2.00 | -1.30 | -1.50 | -1.60 | -- | -- | -1.40 |
| Actuarial Gains and Losses - Domestic | 1.60 | 0.90 | 0.80 | 0.90 | 0.70 | 1.00 | 0.50 | -- | -- | 0.60 |
| Curtailments & Settlements - Domestic | 0.00 | 0.00 | -7.40 | -6.30 | 0.00 | 0.60 | -- | -- | -- | -- |
| Transition Costs - Domestic | -- | -- | -- | -- | -- | -- | 0.00 | -- | -- | 0.10 |
| Domestic Pension Plan Expense | 6.70 | 5.40 | -1.20 | 1.70 | 8.10 | 9.00 | 7.10 | -- | -- | 7.70 |
| Defined Contribution Expense - Domestic | -- | -- | -- | -- | -- | -- | 12.80 | -- | -- | 9.90 |
| Total Pension Expense | 6.70 | 5.40 | -1.20 | 1.70 | 8.10 | 9.00 | 19.90 | -- | -- | 17.60 |
| Discount Rate - Domestic | 0.50 | 0.90 | -- | -- | 1.00 | 1.40 | 2.20 | -- | -- | 2.40 |
| Expected Rate of Return - Domestic | 1.50 | 2.30 | -- | -- | 1.60 | 1.90 | 2.60 | -- | -- | 2.70 |
| Compensation Rate - Domestic | 2.70 | 2.80 | -- | -- | 2.70 | 3.00 | 3.10 | -- | -- | 2.90 |
| Pension Payment Rate - Domestic | -- | -- | -- | -- | -- | -- | -- | -- | -- | 1.80 |
| Total Plan Interest Cost | 0.50 | 0.90 | 0.80 | 1.00 | 1.20 | 1.50 | 2.20 | -- | -- | 2.20 |
| Total Plan Service Cost | 6.30 | 5.20 | 6.00 | 7.90 | 6.80 | 7.00 | 6.30 | -- | -- | 6.60 |
| Total Plan Expected Return | -1.00 | -1.40 | -1.30 | -2.00 | -1.30 | -1.50 | -1.60 | -- | -- | -1.40 |
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