FINANCIAL FUNDAMENTALS

ANNUAL INCOME STATEMENT

  Year Ending Oct 2019 (Update) Year Ending Oct 2018 (Restated) Year Ending Oct 2017 (Restated) Year Ending Oct 2016 (Update)
Net Sales 14,608.00 16,705.00 14,698.00 10,825.00
Revenue 14,608.00 16,705.00 14,698.00 10,825.00
Total Revenue 14,608.00 16,705.00 14,698.00 10,825.00
Cost of Revenue 8,222.00 9,188.00 8,086.00 6,314.00
Cost of Revenue, Total 8,222.00 9,188.00 8,086.00 6,314.00
Gross Profit 6,386.00 7,517.00 6,612.00 4,511.00
Selling/General/Administrative Expense 875.00 899.00 845.00 800.00
Labor & Related Expense 75.00 75.00 68.00 63.00
Selling/General/Administrative Expenses, Total 950.00 974.00 913.00 863.00
Research & Development 2,053.00 2,021.00 1,780.00 1,538.00
Amortization of Intangibles, Operating 19.00 19.00 20.00 22.00
Depreciation/Amortization 19.00 19.00 20.00 22.00
Investment Income - Operating 14.00 12.00 -37.00 -64.00
Interest/Investment Income - Operating 14.00 12.00 -37.00 -64.00
Interest Expense (Income), Net-Operating, Total 14.00 12.00 -37.00 -64.00
Restructuring Charge -- -- -- --
Impairment-Assets Held for Use -- -- -- --
Impairment-Assets Held for Sale -- -- -- --
Loss (Gain) on Sale of Assets - Operating -- -- -- --
Unusual Expense (Income) -- -- -- --
Total Operating Expense 11,258.00 12,214.00 10,762.00 8,673.00
Operating Income 3,350.00 4,491.00 3,936.00 2,152.00
Interest Expense - Non-Operating -237.00 -234.00 -198.00 -155.00
Interest Expense, Net Non-Operating -237.00 -234.00 -198.00 -155.00
Interest Income, Non-Operating 120.00 139.00 78.00 16.00
Investment Income, Non-Operating 36.00 -- -- --
Interest/Investment Income, Non-Operating 156.00 139.00 78.00 16.00
Interest Income (Expense), Net-Non-Operating, Total -81.00 -95.00 -120.00 -139.00
Net Income Before Taxes 3,269.00 4,396.00 3,816.00 2,013.00
Income Tax – Total 587.00 246.00 297.00 292.00
Income After Tax 2,682.00 4,150.00 3,519.00 1,721.00
Net Income Before Extraordinary Items 2,682.00 4,150.00 3,519.00 1,721.00
Extraordinary Item 24.00 -1,112.00 -- --
Total Extraordinary Items 24.00 -1,112.00 -- --
Net Income 2,706.00 3,038.00 3,519.00 1,721.00
Income Available to Common Excluding Extraordinary Items 2,682.00 4,150.00 3,519.00 1,721.00
Income Available to Common Stocks Including Extraordinary Items 2,706.00 3,038.00 3,519.00 1,721.00
Basic Weighted Average Shares 937.00 1,013.00 1,073.00 1,107.00
Basic EPS Excluding Extraordinary Items 2.86 4.10 3.28 1.55
Basic EPS Including Extraordinary Items 2.89 3.00 3.28 1.55
Dilution Adjustment -- -- -- 0.00
Diluted Net Income 2,706.00 3,038.00 3,519.00 1,721.00
Diluted Weighted Average Shares 945.00 1,026.00 1,084.00 1,116.00
Diluted EPS Excluding Extraordinary Items 2.84 4.04 3.25 1.54
Diluted EPS Including Extraordinary Items 2.86 2.96 3.25 1.54
DPS - Common Stock Primary Issue 0.82 0.60 0.40 0.40
Gross Dividends - Common Stock 770.00 694.00 428.00 436.00
Impairment-Assets Held for Sale, Supplemental -6.00 -25.00 -3.00 --
Restructuring Charge, Supplemental -- -- -- 3.00
Other Unusual Expense (Income), Supplemental 77.00 202.00 187.00 -185.00
Non-Recurring Items, Total 71.00 177.00 184.00 -182.00
Total Special Items 71.00 177.00 184.00 -182.00
Normalized Income Before Taxes 3,340.00 4,573.00 4,000.00 1,831.00
Effect of Special Items on Income Taxes 12.75 9.90 14.32 -26.40
Income Taxes Excluding Impact of Special Items 599.75 255.90 311.32 265.60
Normalized Income After Taxes 2,740.25 4,317.10 3,688.68 1,565.40
Normalized Income Available to Common 2,740.25 4,317.10 3,688.68 1,565.40
Basic Normalized EPS 2.92 4.26 3.44 1.41
Diluted Normalized EPS 2.90 4.21 3.40 1.40
Amortization of Intangibles, Supplemental 57.00 199.00 193.00 189.00
Depreciation, Supplemental 306.00 258.00 214.00 200.00
Interest Expense, Supplemental 237.00 234.00 198.00 155.00
Rental Expense, Supplemental 51.00 50.00 34.00 38.00
Stock-Based Compensation, Supplemental 89.00 87.00 40.00 62.00
Equity in Affiliates, Supplemental 36.00 -- -- --
Research & Development Expense, Supplemental 2,053.00 2,021.00 1,780.00 1,538.00
Audit-Related Fees, Supplemental -- -- -- 5.51
Audit-Related Fees -- -- -- 0.61
Tax Fees, Supplemental -- -- -- 0.55
All Other Fees Paid to Auditor, Supplemental -- -- -- 0.06
Gross Margin 43.72 45.00 44.99 41.67
Operating Margin 22.93 26.88 26.78 19.88
Pretax Margin 22.38 26.32 25.96 18.60
Effective Tax Rate 17.96 5.60 7.78 14.51
Net Profit Margin 18.36 24.84 23.94 15.90
Normalized EBIT 3,435.00 4,680.00 4,083.00 1,906.00
Normalized EBITDA 3,798.00 5,137.00 4,490.00 2,295.00
Current Tax - Domestic 264.00 -91.00 64.00 -36.00
Current Tax - Foreign 260.00 117.00 236.00 351.00
Current Tax - Local 12.00 22.00 9.00 -2.00
Current Tax - Total 536.00 48.00 309.00 313.00
Deferred Tax - Domestic 8.00 151.00 -11.00 55.00
Deferred Tax - Foreign 46.00 57.00 -7.00 -89.00
Deferred Tax - Local -3.00 -10.00 6.00 13.00
Deferred Tax - Total 51.00 198.00 -12.00 -21.00
Income Tax - Total 587.00 246.00 297.00 292.00
Interest Cost - Domestic 10.00 -- -- 13.00
Service Cost - Domestic 11.00 -- -- 13.00
Expected Return on Assets - Domestic -20.00 -- -- -14.00
Actuarial Gains and Losses - Domestic 7.00 -- -- 3.00
Curtailments & Settlements - Domestic 0.00 -- -- -5.00
Domestic Pension Plan Expense 8.00 -- -- 10.00
Interest Cost - Foreign -- -- -- --
Service Cost - Foreign -- -- -- --
Prior Service Cost - Foreign -- -- -- --
Expected Return on Assets - Foreign -- -- -- --
Actuarial Gains and Losses - Foreign -- -- -- --
Curtailments & Settlements - Foreign -- -- -- --
Transition Costs - Foreign -- -- -- --
Foreign Pension Plan Expense -- -- -- --
Defined Contribution Expense - Domestic 49.00 -- -- 38.00
Total Pension Expense 57.00 -- -- 48.00
Discount Rate - Domestic -- -- -- --
Discount Rate - Foreign -- -- -- --
Expected Rate of Return - Domestic -- -- -- --
Expected Rate of Return - Foreign -- -- -- --
Compensation Rate - Domestic -- -- -- --
Compensation Rate - Foreign -- -- -- --
Total Plan Interest Cost 10.00 -- -- 13.00
Total Plan Service Cost 11.00 -- -- 13.00
Total Plan Expected Return -20.00 -- -- -14.00

In millions of USD (except for per share items)

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