Income Statement
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Net Sales | 8,262.00 | 7,400.00 | 6,064.00 | 6,226.00 |
| Revenue | 8,262.00 | 7,400.00 | 6,064.00 | 6,226.00 |
| Total Revenue | 8,262.00 | 7,400.00 | 6,064.00 | 6,226.00 |
| Cost of Revenue | 3,013.00 | 2,751.00 | 2,169.00 | 2,644.00 |
| Cost of Revenue, Total | 3,013.00 | 2,751.00 | 2,169.00 | 2,644.00 |
| Gross Profit | 5,249.00 | 4,649.00 | 3,895.00 | 3,582.00 |
| Selling/General/Administrative Expense | 727.00 | 709.00 | 637.00 | 593.00 |
| Labor & Related Expense | 1,392.00 | 1,324.00 | 1,082.00 | 1,003.00 |
| Advertising Expense | 65.00 | 54.00 | 47.00 | 51.00 |
| Selling/General/Administrative Expenses, Total | 2,184.00 | 2,087.00 | 1,766.00 | 1,647.00 |
| Depreciation | 145.00 | 125.00 | 117.00 | 258.00 |
| Amortization of Intangibles, Operating | 487.00 | 488.00 | 206.00 | -- |
| Depreciation/Amortization | 632.00 | 613.00 | 323.00 | 258.00 |
| Restructuring Charge | 42.00 | 79.00 | 68.00 | 15.00 |
| Impairment-Assets Held for Use | -- | 37.00 | 12.00 | -- |
| Other Unusual Expense (Income) | -26.00 | 35.00 | 148.00 | 98.00 |
| Unusual Expense (Income) | 16.00 | 151.00 | 228.00 | 113.00 |
| Total Operating Expense | 5,845.00 | 5,602.00 | 4,486.00 | 4,662.00 |
| Operating Income | 2,417.00 | 1,798.00 | 1,578.00 | 1,564.00 |
| Interest Expense - Non-Operating | -367.00 | -414.00 | -284.00 | -129.00 |
| Interest Expense, Net Non-Operating | -367.00 | -414.00 | -284.00 | -129.00 |
| Interest Income, Non-Operating | 39.00 | 28.00 | 115.00 | 7.00 |
| Investment Income, Non-Operating | 83.00 | 16.00 | -7.00 | 33.00 |
| Interest/Investment Income, Non-Operating | 122.00 | 44.00 | 108.00 | 40.00 |
| Interest Income (Expense), Net-Non-Operating, Total | -245.00 | -370.00 | -176.00 | -89.00 |
| Other Non-Operating Income (Expense) | -27.00 | 21.00 | -1.00 | -- |
| Other, Net | -27.00 | 21.00 | -1.00 | -- |
| Net Income Before Taxes | 2,145.00 | 1,449.00 | 1,401.00 | 1,475.00 |
| Income Tax – Total | 358.00 | 334.00 | 344.00 | 352.00 |
| Income After Tax | 1,787.00 | 1,115.00 | 1,057.00 | 1,123.00 |
| Minority Interest | 1.00 | 2.00 | 2.00 | 2.00 |
| Net Income Before Extraordinary Items | 1,788.00 | 1,117.00 | 1,059.00 | 1,125.00 |
| Extraordinary Item | -- | -- | -- | -- |
| Total Extraordinary Items | -- | -- | -- | -- |
| Net Income | 1,788.00 | 1,117.00 | 1,059.00 | 1,125.00 |
| Income Available to Common Excluding Extraordinary Items | 1,788.00 | 1,117.00 | 1,059.00 | 1,125.00 |
| Income Available to Common Stocks Including Extraordinary Items | 1,788.00 | 1,117.00 | 1,059.00 | 1,125.00 |
| Basic Weighted Average Shares | 573.26 | 575.43 | 504.91 | 492.42 |
| Basic EPS Excluding Extraordinary Items | 3.12 | 1.94 | 2.10 | 2.28 |
| Basic EPS Including Extraordinary Items | 3.12 | 1.94 | 2.10 | 2.28 |
| Diluted Net Income | 1,788.00 | 1,117.00 | 1,059.00 | 1,125.00 |
| Diluted Weighted Average Shares | 578.60 | 579.19 | 508.39 | 497.86 |
| Diluted EPS Excluding Extraordinary Items | 3.09 | 1.93 | 2.08 | 2.26 |
| Diluted EPS Including Extraordinary Items | 3.09 | 1.93 | 2.08 | 2.26 |
| DPS - Common Stock Primary Issue | 1.08 | 0.96 | 0.88 | 0.98 |
| Gross Dividends - Common Stock | 601.00 | 541.00 | 441.00 | 383.00 |
| Impairment-Assets Held for Use, Supplemental | -- | 0.00 | 25.00 | -- |
| Litigation Charge, Supplemental | 6.00 | 20.00 | -- | 1.00 |
| Other Unusual Expense (Income), Supplemental | -8.00 | 46.00 | 30.00 | 27.00 |
| Non-Recurring Items, Total | -2.00 | 66.00 | 55.00 | 28.00 |
| Total Special Items | 14.00 | 217.00 | 283.00 | 141.00 |
| Normalized Income Before Taxes | 2,159.00 | 1,666.00 | 1,684.00 | 1,616.00 |
| Effect of Special Items on Income Taxes | 226.00 | 208.00 | 134.00 | 66.00 |
| Income Taxes Excluding Impact of Special Items | 584.00 | 542.00 | 478.00 | 418.00 |
| Normalized Income After Taxes | 1,575.00 | 1,124.00 | 1,206.00 | 1,198.00 |
| Normalized Income Available to Common | 1,576.00 | 1,126.00 | 1,208.00 | 1,200.00 |
| Basic Normalized EPS | 2.75 | 1.96 | 2.39 | 2.44 |
| Diluted Normalized EPS | 2.72 | 1.94 | 2.38 | 2.41 |
| Amortization of Intangibles, Supplemental | 487.00 | 488.00 | 206.00 | 153.00 |
| Depreciation, Supplemental | 145.00 | 125.00 | 117.00 | 105.00 |
| Interest Expense, Supplemental | 367.00 | 414.00 | 284.00 | 129.00 |
| Rental Expense, Supplemental | 82.00 | 78.00 | 88.00 | 75.00 |
| Stock-Based Compensation, Supplemental | 165.00 | 141.00 | 122.00 | 106.00 |
| Advertising Expense, Supplemental | 65.00 | 54.00 | 47.00 | 51.00 |
| Equity in Affiliates, Supplemental | 83.00 | 16.00 | -7.00 | 31.00 |
| Minority Interest, Supplemental | 1.00 | 2.00 | 2.00 | 2.00 |
| Audit-Related Fees, Supplemental | -- | 8.23 | 6.92 | 6.76 |
| Audit-Related Fees | -- | 1.04 | 0.98 | 1.92 |
| Tax Fees, Supplemental | -- | 0.80 | 0.72 | 0.44 |
| All Other Fees Paid to Auditor, Supplemental | -- | 0.24 | 0.05 | 0.32 |
| Gross Margin | 63.53 | 62.82 | 64.23 | 57.53 |
| Operating Margin | 29.25 | 24.30 | 26.02 | 25.12 |
| Pretax Margin | 25.96 | 19.58 | 23.10 | 23.69 |
| Effective Tax Rate | 16.69 | 23.05 | 24.55 | 23.86 |
| Net Profit Margin | 21.64 | 15.09 | 17.46 | 18.07 |
| Normalized EBIT | 2,431.00 | 2,015.00 | 1,861.00 | 1,705.00 |
| Normalized EBITDA | 3,063.00 | 2,628.00 | 2,184.00 | 1,963.00 |
| Current Tax - Domestic | 132.00 | 166.00 | 145.00 | 170.00 |
| Current Tax - Foreign | 118.00 | 165.00 | 79.00 | 77.00 |
| Current Tax - Local | 60.00 | 70.00 | 52.00 | 67.00 |
| Current Tax - Total | 310.00 | 401.00 | 276.00 | 314.00 |
| Deferred Tax - Domestic | 62.00 | -25.00 | 51.00 | 36.00 |
| Deferred Tax - Foreign | -11.00 | -44.00 | 9.00 | -4.00 |
| Deferred Tax - Local | -3.00 | 2.00 | 8.00 | 6.00 |
| Deferred Tax - Total | 48.00 | -67.00 | 68.00 | 38.00 |
| Income Tax - Total | 358.00 | 334.00 | 344.00 | 352.00 |
| Defined Contribution Expense - Domestic | 57.00 | 73.00 | 53.00 | 41.00 |
| Total Pension Expense | 57.00 | 73.00 | 53.00 | 41.00 |
In millions of USD (except for per share items)
Source: LSEG