Income Statement

Detailed Income Statement
Year Ending Dec 2025 (Update) Year Ending Dec 2024 (Restated) Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update)
Net Sales 37,442.00 34,717.00 36,662.00 35,466.00
Revenue 37,442.00 34,717.00 36,662.00 35,466.00
Total Revenue 37,442.00 34,717.00 36,662.00 35,466.00
Cost of Revenue 23,613.00 21,360.00 22,995.00 23,825.00
Cost of Revenue, Total 23,613.00 21,360.00 22,995.00 23,825.00
Gross Profit 13,829.00 13,357.00 13,667.00 11,641.00
Selling/General/Administrative Expense 5,210.00 4,998.00 4,925.00 4,717.00
Labor & Related Expense 196.00 189.00 202.00 188.00
Selling/General/Administrative Expenses, Total 5,406.00 5,187.00 5,127.00 4,905.00
Research & Development 1,812.00 1,454.00 1,456.00 No data
Interest Expense - Operating 1,344.00 1,048.00 765.00 414.00
Interest Expense, Net - Operating 1,344.00 1,048.00 765.00 414.00
Interest Income - OperatingNo dataNo data -321.00 -138.00
Investment Income - OperatingNo dataNo data -91.00 -13.00
Interest/Investment Income - OperatingNo dataNo data -412.00 -151.00
Interest Expense (Income), Net-Operating, Total 1,344.00 1,048.00 353.00 263.00
Restructuring ChargeNo dataNo dataNo data 696.00
LitigationNo dataNo dataNo data 0.00
Impairment-Assets Held for Use 567.00 267.00 No dataNo data
Other Unusual Expense (Income) 2.00 25.00 3.00 23.00
Unusual Expense (Income) 569.00 292.00 3.00 719.00
Other, Net -1,249.00 -868.00 -431.00 -625.00
Other Operating Expenses, Total -1,249.00 -868.00 -431.00 -625.00
Total Operating Expense 31,495.00 28,473.00 29,503.00 29,087.00
Operating Income 5,947.00 6,244.00 7,159.00 6,379.00
Net Income Before Taxes 5,947.00 6,244.00 7,159.00 6,379.00
Income Tax – Total 1,069.00 1,249.00 1,487.00 1,412.00
Income After Tax 4,878.00 4,995.00 5,672.00 4,967.00
Minority Interest -43.00 -35.00 -14.00 -1.00
Net Income Before Extraordinary Items 4,835.00 4,960.00 5,658.00 4,966.00
Discontinued Operations 304.00 745.00 No dataNo data
Extraordinary ItemNo dataNo dataNo dataNo data
Total Extraordinary Items 304.00 745.00 No dataNo data
Net Income 5,139.00 5,705.00 5,658.00 4,966.00
Income Available to Common Excluding Extraordinary Items 4,835.00 4,960.00 5,658.00 4,966.00
Income Available to Common Stocks Including Extraordinary Items 5,139.00 5,705.00 5,658.00 4,966.00
Basic Weighted Average Shares 639.00 650.90 663.00 677.10
Basic EPS Excluding Extraordinary Items 7.57 7.62 8.53 7.33
Basic EPS Including Extraordinary Items 8.04 8.76 8.53 7.33
Diluted Net Income 5,139.00 5,705.00 5,658.00 4,966.00
Diluted Weighted Average Shares 642.80 655.30 668.20 683.10
Diluted EPS Excluding Extraordinary Items 7.52 7.57 8.47 7.27
Diluted EPS Including Extraordinary Items 7.99 8.71 8.47 7.27
DPS - Common Stock Primary Issue 4.58 4.37 4.17 3.97
Gross Dividends - Common StockNo data 2,849.00 2,772.00 2,700.00
Impairment-Assets Held for Use, SupplementalNo dataNo data 41.00 No data
Litigation Charge, Supplemental 373.00 No data 534.00 No data
Restructuring Charge, Supplemental 675.00 265.00 245.00 572.00
Other Unusual Expense (Income), SupplementalNo dataNo data 40.00 No data
Non-Recurring Items, Total 1,048.00 265.00 860.00 572.00
Total Special Items 1,617.00 557.00 863.00 1,291.00
Normalized Income Before Taxes 7,564.00 6,801.00 8,022.00 7,670.00
Effect of Special Items on Income Taxes 290.66 111.42 179.25 285.76
Income Taxes Excluding Impact of Special Items 1,359.66 1,360.42 1,666.25 1,697.76
Normalized Income After Taxes 6,204.34 5,440.58 6,355.75 5,972.24
Normalized Income Available to Common 6,161.34 5,405.58 6,341.75 5,971.24
Basic Normalized EPS 9.64 8.30 9.57 8.82
Diluted Normalized EPS 9.59 8.25 9.49 8.74
Amortization of Intangibles, Supplemental 842.00 663.00 517.00 547.00
Depreciation, Supplemental 546.00 671.00 659.00 657.00
Interest Expense, Supplemental 1,344.00 1,048.00 765.00 414.00
Rental Expense, SupplementalNo dataNo data 239.00 224.00
Stock-Based Compensation, Supplemental 196.00 189.00 202.00 188.00
Equity in Affiliates, SupplementalNo dataNo data 100.00 61.00
Minority Interest, Supplemental -43.00 -35.00 -14.00 -1.00
Research & Development Expense, Supplemental 1,812.00 1,454.00 2,601.00 1,478.00
Audit-Related Fees, SupplementalNo dataNo data 17.58 16.92
Audit-Related FeesNo dataNo data 1.88 3.33
Tax Fees, SupplementalNo dataNo data 0.00 0.00
All Other Fees Paid to Auditor, SupplementalNo dataNo data 0.05 0.04
Gross Margin 36.93 38.47 37.28 32.82
Operating Margin 15.88 17.99 19.53 17.99
Pretax Margin 15.88 17.99 19.53 17.99
Effective Tax Rate 17.98 20.00 20.77 22.14
Net Profit Margin 12.91 14.29 15.43 14.00
Normalized EBIT 8,908.00 7,849.00 8,375.00 7,933.00
Normalized EBITDA 10,296.00 9,183.00 9,551.00 9,137.00
Current Tax - DomesticNo dataNo data 176.00 653.00
Current Tax - ForeignNo dataNo data 1,098.00 815.00
Current Tax - LocalNo dataNo data 60.00 124.00
Current Tax - TotalNo dataNo data 1,334.00 1,592.00
Deferred Tax - DomesticNo dataNo data 27.00 -176.00
Deferred Tax - ForeignNo dataNo data 115.00 32.00
Deferred Tax - LocalNo dataNo data 11.00 -36.00
Deferred Tax - TotalNo dataNo data 153.00 -180.00
Income Tax - TotalNo dataNo data 1,487.00 1,412.00
Interest Cost - DomesticNo dataNo data 645.00 380.00
Service Cost - DomesticNo dataNo data 29.00 86.00
Prior Service Cost - DomesticNo dataNo data -42.00 -42.00
Expected Return on Assets - DomesticNo dataNo data -1,111.00 -1,281.00
Actuarial Gains and Losses - DomesticNo dataNo dataNo data -14.00
Curtailments & Settlements - DomesticNo dataNo dataNo data -2.00
Domestic Pension Plan ExpenseNo dataNo data -479.00 -873.00
Interest Cost - ForeignNo dataNo data 200.00 103.00
Service Cost - ForeignNo dataNo data 11.00 19.00
Prior Service Cost - ForeignNo dataNo dataNo dataNo data
Expected Return on Assets - ForeignNo dataNo data -274.00 -278.00
Actuarial Gains and Losses - ForeignNo dataNo data 153.00 537.00
Curtailments & Settlements - ForeignNo dataNo dataNo dataNo data
Foreign Pension Plan ExpenseNo dataNo data 90.00 381.00
Interest Cost - Post-RetirementNo dataNo data 6.00 5.00
Service Cost - Post-RetirementNo dataNo dataNo data 0.00
Prior Service Cost - Post-RetirementNo dataNo data -20.00 -42.00
Actuarial Gains and Losses - Post-RetirementNo dataNo data -13.00 -4.00
Post-Retirement Plan ExpenseNo dataNo data -27.00 -41.00
Total Pension ExpenseNo dataNo data -416.00 -533.00
Discount Rate - DomesticNo dataNo data 5.17 2.87
Discount Rate - ForeignNo dataNo data 4.49 1.77
Discount Rate - Post-RetirementNo dataNo data 5.32 2.66
Expected Rate of Return - DomesticNo dataNo data 6.75 6.40
Expected Rate of Return - ForeignNo dataNo data 5.15 3.61
Compensation Rate - DomesticNo dataNo data 3.25 3.25
Compensation Rate - ForeignNo dataNo data 2.68 2.56
Total Plan Interest CostNo dataNo data 851.00 488.00
Total Plan Service CostNo dataNo data 40.00 105.00
Total Plan Expected ReturnNo dataNo data -1,385.00 -1,559.00

In millions of USD (except for per share items)

Source: LSEG

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