Fundamentals

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update)
Net Sales 4,348.00 3,722.80 3,435.30 2,963.70
Revenue 4,348.00 3,722.80 3,435.30 2,963.70
Total Revenue 4,348.00 3,722.80 3,435.30 2,963.70
Cost of Revenue 1,114.40 939.40 875.30 797.40
Cost of Revenue, Total 1,114.40 939.40 875.30 797.40
Gross Profit 3,233.60 2,783.40 2,560.00 2,166.30
Selling/General/Administrative Expense 1,189.00 1,042.20 945.10 866.70
Labor & Related Expense 51.20 46.30 40.70 38.00
Selling/General/Administrative Expenses, Total 1,240.20 1,088.50 985.80 904.70
Research & Development 752.70 622.20 552.60 443.30
Interest Expense - Operating -- -- 24.30 18.00
Interest Expense, Net - Operating -- -- 24.30 18.00
Interest Income - Operating -- -- -20.30 -10.80
Investment Income - Operating -- -- -5.60 1.50
Interest/Investment Income - Operating -- -- -25.90 -9.30
Interest Expense (Income), Net-Operating, Total -- -- -1.60 8.70
Restructuring Charge 0.00 -7.10 59.90 34.50
Litigation 33.40 214.00 -73.30 32.60
Impairment-Assets Held for Use -- 116.20 -- --
Impairment-Assets Held for Sale -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- --
Other Unusual Expense (Income) 66.60 -- -- --
Unusual Expense (Income) 100.00 323.10 -13.40 67.10
Other Operating Expense -- -- -- 0.00
Other, Net -6.10 -5.70 1.70 4.60
Other Operating Expenses, Total -6.10 -5.70 1.70 4.60
Total Operating Expense 3,201.20 2,967.50 2,400.40 2,225.80
Operating Income 1,146.80 755.30 1,034.90 737.90
Interest Expense - Non-Operating -27.30 -33.40 -- --
Interest Expense, Net Non-Operating -27.30 -33.40 -- --
Interest Income, Non-Operating 32.20 32.00 -- --
Investment Income, Non-Operating 16.40 18.70 -- --
Interest/Investment Income, Non-Operating 48.60 50.70 -- --
Interest Income (Expense), Net-Non-Operating, Total 21.30 17.30 -- --
Other Non-Operating Income (Expense) -1.60 -11.20 -- --
Other, Net -1.60 -11.20 -- --
Net Income Before Taxes 1,166.50 761.40 1,034.90 737.90
Income Tax – Total 116.80 23.40 157.20 168.40
Income After Tax 1,049.70 738.00 877.70 569.50
Net Income Before Extraordinary Items 1,049.70 738.00 877.70 569.50
Extraordinary Item -2.80 -15.80 -294.10 --
Total Extraordinary Items -2.80 -15.80 -294.10 --
Net Income 1,046.90 722.20 583.60 569.50
Income Available to Common Excluding Extraordinary Items 1,049.70 738.00 877.70 569.50
Income Available to Common Stocks Including Extraordinary Items 1,046.90 722.20 583.60 569.50
Basic Weighted Average Shares 624.91 627.61 632.71 639.01
Basic EPS Excluding Extraordinary Items 1.68 1.18 1.39 0.89
Basic EPS Including Extraordinary Items 1.68 1.15 0.92 0.89
Dilution Adjustment -- -- -- --
Diluted Net Income 1,046.90 722.20 583.60 569.50
Diluted Weighted Average Shares 636.61 640.81 647.71 653.41
Diluted EPS Excluding Extraordinary Items 1.65 1.15 1.36 0.87
Diluted EPS Including Extraordinary Items 1.64 1.13 0.90 0.87
DPS - Common Stock Primary Issue -- -- -- --
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00
Total Special Items 100.00 323.10 -13.40 67.10
Normalized Income Before Taxes 1,266.50 1,084.50 1,021.50 805.00
Effect of Special Items on Income Taxes 10.01 9.93 -2.04 15.31
Income Taxes Excluding Impact of Special Items 126.81 33.33 155.16 183.71
Normalized Income After Taxes 1,139.69 1,051.17 866.34 621.29
Normalized Income Available to Common 1,139.69 1,051.17 866.34 621.29
Basic Normalized EPS 1.82 1.67 1.37 0.97
Diluted Normalized EPS 1.79 1.64 1.34 0.95
Amortization of Intangibles, Supplemental 4.60 2.50 7.80 7.60
Depreciation, Supplemental 84.70 74.90 74.10 63.60
Interest Expense, Supplemental 27.30 33.40 24.30 18.00
Rental Expense, Supplemental 27.90 27.00 27.30 22.90
Stock-Based Compensation, Supplemental 81.30 71.00 61.60 56.90
Equity in Affiliates, Supplemental -- -- -- --
Research & Development Expense, Supplemental 752.70 622.20 552.60 443.30
Audit-Related Fees, Supplemental 3.50 3.40 2.80 2.70
Audit-Related Fees 0.30 0.30 0.30 0.30
Tax Fees, Supplemental 1.50 1.30 1.50 1.90
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00
Gross Margin 74.37 74.77 74.52 73.09
Operating Margin 26.38 20.29 30.13 24.90
Pretax Margin 26.83 20.45 30.13 24.90
Effective Tax Rate 10.01 3.07 15.19 22.82
Net Profit Margin 24.14 19.82 25.55 19.22
Normalized EBIT 1,246.80 1,078.40 1,019.90 813.70
Normalized EBITDA 1,336.10 1,155.80 1,101.80 884.90
Current Tax - Domestic 28.50 -4.90 33.40 153.40
Current Tax - Foreign 29.10 35.90 60.60 27.40
Current Tax - Local 48.70 13.60 32.80 12.10
Current Tax - Total 106.30 44.60 126.80 192.90
Deferred Tax - Domestic 28.30 -16.10 42.60 -19.60
Deferred Tax - Foreign 0.50 17.30 -8.40 -0.60
Deferred Tax - Local -18.30 -22.40 -3.80 -4.30
Deferred Tax - Total 10.50 -21.20 30.40 -24.50
Income Tax - Total 116.80 23.40 157.20 168.40
Interest Cost - Domestic 0.90 0.80 1.00 1.20
Service Cost - Domestic 5.20 6.00 7.90 6.80
Prior Service Cost - Domestic -0.20 -0.10 0.20 0.70
Expected Return on Assets - Domestic -1.40 -1.30 -2.00 -1.30
Actuarial Gains and Losses - Domestic 0.90 0.80 0.90 0.70
Curtailments & Settlements - Domestic 0.00 -7.40 -6.30 0.00
Transition Costs - Domestic -- -- -- --
Domestic Pension Plan Expense 5.40 -1.20 6.90 6.70
Defined Contribution Expense - Domestic -- -- -- --
Total Pension Expense 5.40 -1.20 6.90 6.70
Discount Rate - Domestic 0.90 -- -- 1.00
Expected Rate of Return - Domestic 2.30 -- -- 1.60
Compensation Rate - Domestic 2.80 -- -- 2.70
Pension Payment Rate - Domestic -- -- -- --
Total Plan Interest Cost 0.90 0.80 1.00 1.20
Total Plan Service Cost 5.20 6.00 7.90 6.80
Total Plan Expected Return -1.40 -1.30 -2.00 -1.30

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