Income Statement

Income Statement

  Year Ending Dec 2024 (Update) Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update)
Net Sales 38,498.00 36,662.00 35,466.00 34,392.00
Revenue 38,498.00 36,662.00 35,466.00 34,392.00
Total Revenue 38,498.00 36,662.00 35,466.00 34,392.00
Cost of Revenue 23,836.00 22,995.00 23,825.00 23,394.00
Cost of Revenue, Total 23,836.00 22,995.00 23,825.00 23,394.00
Gross Profit 14,662.00 13,667.00 11,641.00 10,998.00
Selling/General/Administrative Expense 5,272.00 4,925.00 5,026.00 4,581.00
Labor & Related Expense 194.00 202.00 188.00 217.00
Selling/General/Administrative Expenses, Total 5,466.00 5,127.00 5,214.00 4,798.00
Research & Development 1,536.00 1,456.00 -- --
Interest Expense - Operating 1,058.00 765.00 414.00 343.00
Interest Expense, Net - Operating 1,058.00 765.00 414.00 343.00
Interest Income - Operating -426.00 -321.00 -138.00 -102.00
Investment Income - Operating -9.00 -91.00 -13.00 -42.00
Interest/Investment Income - Operating -435.00 -412.00 -151.00 -144.00
Interest Expense (Income), Net-Operating, Total 623.00 353.00 263.00 199.00
Litigation -- -- 0.00 0.00
Impairment-Assets Held for Use 219.00 -- -- --
Other Unusual Expense (Income) 18.00 3.00 410.00 58.00
Unusual Expense (Income) 237.00 3.00 410.00 58.00
Other, Net -413.00 -431.00 -625.00 -1,292.00
Other Operating Expenses, Total -413.00 -431.00 -625.00 -1,292.00
Total Operating Expense 31,285.00 29,503.00 29,087.00 27,157.00
Operating Income 7,213.00 7,159.00 6,379.00 7,235.00
Net Income Before Taxes 7,213.00 7,159.00 6,379.00 7,235.00
Income Tax – Total 1,473.00 1,487.00 1,412.00 1,625.00
Income After Tax 5,740.00 5,672.00 4,967.00 5,610.00
Minority Interest -35.00 -14.00 -1.00 -68.00
Net Income Before Extraordinary Items 5,705.00 5,658.00 4,966.00 5,542.00
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 5,705.00 5,658.00 4,966.00 5,542.00
Income Available to Common Excluding Extraordinary Items 5,705.00 5,658.00 4,966.00 5,542.00
Income Available to Common Stocks Including Extraordinary Items 5,705.00 5,658.00 4,966.00 5,542.00
Basic Weighted Average Shares 650.90 663.00 677.10 692.30
Basic EPS Excluding Extraordinary Items 8.76 8.53 7.33 8.01
Basic EPS Including Extraordinary Items 8.76 8.53 7.33 8.01
Diluted Net Income 5,705.00 5,658.00 4,966.00 5,542.00
Diluted Weighted Average Shares 655.30 668.20 683.10 700.40
Diluted EPS Excluding Extraordinary Items 8.71 8.47 7.27 7.91
Diluted EPS Including Extraordinary Items 8.71 8.47 7.27 7.91
DPS - Common Stock Primary Issue 4.37 4.17 3.97 3.77
Gross Dividends - Common Stock 2,849.00 2,772.00 2,700.00 2,620.00
Impairment-Assets Held for Use, Supplemental 22.00 41.00 176.00 117.00
Litigation Charge, Supplemental 61.00 534.00 532.00 129.00
Restructuring Charge, Supplemental 107.00 245.00 188.00 201.00
Other Unusual Expense (Income), Supplemental 37.00 40.00 28.00 122.00
Non-Recurring Items, Total 227.00 860.00 924.00 569.00
Total Special Items 464.00 863.00 1,334.00 627.00
Normalized Income Before Taxes 7,677.00 8,022.00 7,713.00 7,862.00
Effect of Special Items on Income Taxes 94.76 179.25 295.28 140.83
Income Taxes Excluding Impact of Special Items 1,567.76 1,666.25 1,707.28 1,765.83
Normalized Income After Taxes 6,109.24 6,355.75 6,005.72 6,096.17
Normalized Income Available to Common 6,074.24 6,341.75 6,004.72 6,028.17
Basic Normalized EPS 9.33 9.57 8.87 8.71
Diluted Normalized EPS 9.27 9.49 8.79 8.61
Amortization of Intangibles, Supplemental 663.00 517.00 547.00 549.00
Depreciation, Supplemental 671.00 659.00 657.00 674.00
Interest Expense, Supplemental 1,058.00 765.00 414.00 343.00
Interest Capitalized, Supplemental -- -- -- --
Rental Expense, Supplemental 267.00 239.00 224.00 228.00
Stock-Based Compensation, Supplemental 194.00 202.00 188.00 217.00
Equity in Affiliates, Supplemental 65.00 100.00 61.00 67.00
Minority Interest, Supplemental -35.00 -14.00 -1.00 -68.00
Research & Development Expense, Supplemental 1,536.00 1,456.00 1,478.00 1,333.00
Audit-Related Fees, Supplemental -- 17.58 16.92 16.94
Audit-Related Fees -- 1.88 3.33 4.71
Tax Fees, Supplemental -- 0.00 0.00 0.03
All Other Fees Paid to Auditor, Supplemental -- 0.05 0.04 0.31
Gross Margin 38.09 37.28 32.82 31.98
Operating Margin 18.74 19.53 17.99 21.04
Pretax Margin 18.74 19.53 17.99 21.04
Effective Tax Rate 20.42 20.77 22.14 22.46
Net Profit Margin 14.82 15.43 14.00 16.11
Normalized EBIT 8,300.00 8,375.00 7,976.00 8,061.00
Normalized EBITDA 9,634.00 9,551.00 9,180.00 9,284.00
Current Tax - Domestic 606.00 176.00 653.00 415.00
Current Tax - Foreign 1,012.00 1,098.00 815.00 886.00
Current Tax - Local 88.00 60.00 124.00 146.00
Current Tax - Total 1,706.00 1,334.00 1,592.00 1,447.00
Deferred Tax - Domestic -210.00 27.00 -176.00 173.00
Deferred Tax - Foreign 2.00 115.00 32.00 -32.00
Deferred Tax - Local -25.00 11.00 -36.00 37.00
Deferred Tax - Total -233.00 153.00 -180.00 178.00
Income Tax - Total 1,473.00 1,487.00 1,412.00 1,625.00
Interest Cost - Domestic 599.00 645.00 380.00 306.00
Service Cost - Domestic 28.00 29.00 86.00 105.00
Prior Service Cost - Domestic -7.00 -42.00 -42.00 -42.00
Expected Return on Assets - Domestic -1,125.00 -1,111.00 -1,281.00 -1,220.00
Actuarial Gains and Losses - Domestic 0.00 -- -14.00 31.00
Curtailments & Settlements - Domestic 0.00 -- -2.00 0.00
Transition Costs - Domestic -- -- -- --
Domestic Pension Plan Expense -505.00 -479.00 -873.00 -820.00
Interest Cost - Foreign 191.00 200.00 103.00 77.00
Service Cost - Foreign 12.00 11.00 19.00 26.00
Prior Service Cost - Foreign -- -- -- --
Expected Return on Assets - Foreign -301.00 -274.00 -278.00 -348.00
Actuarial Gains and Losses - Foreign 126.00 153.00 537.00 9.00
Curtailments & Settlements - Foreign -17.00 -- -- --
Transition Costs - Foreign 1.00 -- -- --
Foreign Pension Plan Expense 12.00 90.00 381.00 -236.00
Interest Cost - Post-Retirement 5.00 6.00 5.00 5.00
Service Cost - Post-Retirement -- -- 0.00 0.00
Prior Service Cost - Post-Retirement -12.00 -20.00 -42.00 -74.00
Actuarial Gains and Losses - Post-Retirement -11.00 -13.00 -4.00 -2.00
Curtailments & Settlements - Post-Retirement -- -- -- --
Post-Retirement Plan Expense -18.00 -27.00 -41.00 -71.00
Total Pension Expense -511.00 -416.00 -533.00 -1,127.00
Discount Rate - Domestic 4.97 5.17 2.87 2.50
Discount Rate - Foreign 4.13 4.49 1.77 1.24
Discount Rate - Post-Retirement 5.00 5.32 2.66 2.20
Expected Rate of Return - Domestic 7.00 6.75 6.40 6.15
Expected Rate of Return - Foreign 5.48 5.15 3.61 4.03
Compensation Rate - Domestic 3.25 3.25 3.25 3.25
Compensation Rate - Foreign 2.68 2.68 2.56 2.43
Total Plan Interest Cost 795.00 851.00 488.00 388.00
Total Plan Service Cost 40.00 40.00 105.00 131.00
Total Plan Expected Return -1,426.00 -1,385.00 -1,559.00 -1,568.00

In millions of USD (except for per share items)

Source: LSEG

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