FINANCIAL FUNDAMENTALS

ANNUAL INCOME STATEMENT

  Year Ending Oct 2020 (Update) Year Ending Oct 2019 (Update) Year Ending Oct 2018 (Restated) Year Ending Oct 2017 (Restated)
Net Sales 17,202.00 14,608.00 16,705.00 14,698.00
Revenue 17,202.00 14,608.00 16,705.00 14,698.00
Total Revenue 17,202.00 14,608.00 16,705.00 14,698.00
Cost of Revenue 9,510.00 8,222.00 9,188.00 8,086.00
Cost of Revenue, Total 9,510.00 8,222.00 9,188.00 8,086.00
Gross Profit 7,692.00 6,386.00 7,517.00 6,612.00
Selling/General/Administrative Expense 987.00 875.00 899.00 845.00
Labor & Related Expense 88.00 75.00 75.00 68.00
Selling/General/Administrative Expenses, Total 1,075.00 950.00 974.00 913.00
Research & Development 2,233.00 2,053.00 2,021.00 1,780.00
Amortization of Intangibles, Operating 19.00 19.00 19.00 20.00
Depreciation/Amortization 19.00 19.00 19.00 20.00
Investment Income - Operating -- 14.00 12.00 -37.00
Interest/Investment Income - Operating -- 14.00 12.00 -37.00
Interest Expense (Income), Net-Operating, Total -- 14.00 12.00 -37.00
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 12,837.00 11,258.00 12,214.00 10,762.00
Operating Income 4,365.00 3,350.00 4,491.00 3,936.00
Interest Expense - Non-Operating -240.00 -237.00 -234.00 -198.00
Interest Expense, Net Non-Operating -240.00 -237.00 -234.00 -198.00
Interest Income, Non-Operating 32.00 120.00 139.00 78.00
Investment Income, Non-Operating 9.00 36.00 -- --
Interest/Investment Income, Non-Operating 41.00 156.00 139.00 78.00
Interest Income (Expense), Net-Non-Operating, Total -199.00 -81.00 -95.00 -120.00
Net Income Before Taxes 4,166.00 3,269.00 4,396.00 3,816.00
Income Tax – Total 547.00 587.00 246.00 297.00
Income After Tax 3,619.00 2,682.00 4,150.00 3,519.00
Net Income Before Extraordinary Items 3,619.00 2,682.00 4,150.00 3,519.00
Extraordinary Item 0.00 24.00 -1,112.00 --
Total Extraordinary Items 0.00 24.00 -1,112.00 --
Net Income 3,619.00 2,706.00 3,038.00 3,519.00
Income Available to Common Excluding Extraordinary Items 3,619.00 2,682.00 4,150.00 3,519.00
Income Available to Common Stocks Including Extraordinary Items 3,619.00 2,706.00 3,038.00 3,519.00
Basic Weighted Average Shares 916.00 937.00 1,013.00 1,073.00
Basic EPS Excluding Extraordinary Items 3.95 2.86 4.10 3.28
Basic EPS Including Extraordinary Items 3.95 2.89 3.00 3.28
Dilution Adjustment -- -- -- --
Diluted Net Income 3,619.00 2,706.00 3,038.00 3,519.00
Diluted Weighted Average Shares 923.00 945.00 1,026.00 1,084.00
Diluted EPS Excluding Extraordinary Items 3.92 2.84 4.04 3.25
Diluted EPS Including Extraordinary Items 3.92 2.86 2.96 3.25
DPS - Common Stock Primary Issue 0.86 0.82 0.60 0.40
Gross Dividends - Common Stock 796.00 770.00 694.00 428.00
Impairment-Assets Held for Sale, Supplemental -1.00 -6.00 -25.00 -3.00
Restructuring Charge, Supplemental -- -- -- --
Other Unusual Expense (Income), Supplemental 23.00 77.00 202.00 187.00
Non-Recurring Items, Total 22.00 71.00 177.00 184.00
Total Special Items 22.00 71.00 177.00 184.00
Normalized Income Before Taxes 4,188.00 3,340.00 4,573.00 4,000.00
Effect of Special Items on Income Taxes 2.89 12.75 9.90 14.32
Income Taxes Excluding Impact of Special Items 549.89 599.75 255.90 311.32
Normalized Income After Taxes 3,638.11 2,740.25 4,317.10 3,688.68
Normalized Income Available to Common 3,638.11 2,740.25 4,317.10 3,688.68
Basic Normalized EPS 3.97 2.92 4.26 3.44
Diluted Normalized EPS 3.94 2.90 4.21 3.40
Amortization of Intangibles, Supplemental 56.00 57.00 199.00 193.00
Depreciation, Supplemental 320.00 306.00 258.00 214.00
Interest Expense, Supplemental 240.00 237.00 234.00 198.00
Rental Expense, Supplemental 69.00 51.00 50.00 34.00
Stock-Based Compensation, Supplemental 103.00 89.00 87.00 40.00
Equity in Affiliates, Supplemental 9.00 36.00 -- --
Research & Development Expense, Supplemental 2,233.00 2,053.00 2,021.00 1,780.00
Audit-Related Fees, Supplemental -- 6.53 7.78 --
Audit-Related Fees -- 0.06 0.34 --
Tax Fees, Supplemental -- 0.77 0.88 --
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.05 --
Gross Margin 44.72 43.72 45.00 44.99
Operating Margin 25.37 22.93 26.88 26.78
Pretax Margin 24.22 22.38 26.32 25.96
Effective Tax Rate 13.13 17.96 5.60 7.78
Net Profit Margin 21.04 18.36 24.84 23.94
Normalized EBIT 4,387.00 3,435.00 4,680.00 4,083.00
Normalized EBITDA 4,763.00 3,798.00 5,137.00 4,490.00
Current Tax - Domestic 196.00 264.00 -91.00 64.00
Current Tax - Foreign 263.00 260.00 117.00 236.00
Current Tax - Local 20.00 12.00 22.00 9.00
Current Tax - Total 479.00 536.00 48.00 309.00
Deferred Tax - Domestic -3.00 8.00 151.00 -11.00
Deferred Tax - Foreign 76.00 46.00 57.00 -7.00
Deferred Tax - Local -5.00 -3.00 -10.00 6.00
Deferred Tax - Total 68.00 51.00 198.00 -12.00
Income Tax - Total 547.00 587.00 246.00 297.00
Interest Cost - Domestic 8.00 10.00 -- --
Service Cost - Domestic 13.00 11.00 -- --
Expected Return on Assets - Domestic -22.00 -20.00 -- --
Actuarial Gains and Losses - Domestic 12.00 7.00 -- --
Curtailments & Settlements - Domestic -- 0.00 -- --
Domestic Pension Plan Expense 11.00 8.00 -- --
Interest Cost - Foreign -- -- -- --
Service Cost - Foreign -- -- -- --
Expected Return on Assets - Foreign -- -- -- --
Actuarial Gains and Losses - Foreign -- -- -- --
Curtailments & Settlements - Foreign -- -- -- --
Foreign Pension Plan Expense -- -- -- --
Defined Contribution Expense - Domestic 52.00 49.00 -- --
Total Pension Expense 63.00 57.00 -- --
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 8.00 10.00 -- --
Total Plan Service Cost 13.00 11.00 -- --
Total Plan Expected Return -22.00 -20.00 -- --

In millions of USD (except for per share items)

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