Income Statement

  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update)
Net Sales 2,413.17 2,376.73 2,256.61 2,350.10
Revenue 2,413.17 2,376.73 2,256.61 2,350.10
Total Revenue 2,413.17 2,376.73 2,256.61 2,350.10
Cost of Revenue 1,744.23 1,663.73 1,629.05 1,778.33
Cost of Revenue, Total 1,744.23 1,663.73 1,629.05 1,778.33
Gross Profit -- 713.00 627.57 571.77
Selling/General/Administrative Expense 190.77 196.97 204.31 193.37
Selling/General/Administrative Expenses, Total 190.77 196.97 204.31 193.37
Depreciation 125.78 132.93 135.18 134.68
Depreciation/Amortization 125.78 132.93 135.18 134.68
Impairment-Assets Held for Use -- 0.00 0.00 21.15
Other Unusual Expense (Income) 8.53 37.90 -4.69 -5.32
Unusual Expense (Income) 8.53 37.90 -4.69 15.83
Total Operating Expense -- 2,031.52 1,963.84 2,122.21
Operating Income -- 345.21 292.78 227.89
Interest Expense - Non-Operating -218.29 -164.55 -129.46 -126.84
Interest Expense, Net Non-Operating -218.29 -164.55 -129.46 -126.84
Interest Income, Non-Operating 7.79 16.83 24.01 23.07
Interest/Investment Income, Non-Operating 7.79 16.83 24.01 23.07
Interest Income (Expense), Net-Non-Operating, Total -210.50 -147.72 -105.45 -103.77
Gain (Loss) on Sale of Assets 4.69 32.33 5.50 --
Net Income Before Taxes 138.05 229.82 192.82 124.13
Income Tax – Total 35.40 62.90 122.73 20.46
Income After Tax -- 166.92 70.09 103.67
Minority Interest 0.14 0.12 0.19 0.20
Equity In Affiliates 4.53 4.77 7.14 9.17
Net Income Before Extraordinary Items -- 171.81 77.42 113.03
Discontinued Operations -- -- -- --
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 107.33 171.81 77.42 113.03
Miscellaneous Earnings Adjustment -- -29.35 -6.98 --
Total Adjustments to Net Income -- -29.35 -6.98 --
Income Available to Common Excluding Extraordinary Items -- 142.47 70.44 113.03
Income Available to Common Stocks Including Extraordinary Items -- 142.47 70.44 113.03
Basic Weighted Average Shares 121.91 121.04 120.38 119.72
Basic EPS Excluding Extraordinary Items -- 1.18 0.59 0.94
Basic EPS Including Extraordinary Items 0.73 1.18 0.59 0.94
Diluted Net Income -- 142.47 70.44 113.03
Diluted Weighted Average Shares 123.70 122.28 120.73 119.99
Diluted EPS Excluding Extraordinary Items -- 1.17 0.58 0.94
Diluted EPS Including Extraordinary Items 0.72 1.17 0.58 0.94
DPS - Common Stock Primary Issue -- -- -- 1.78
Gross Dividends - Common Stock -- 0.00 30.49 216.15
(Gain) Loss on Sale of Assets, Supplemental -- -- -10.06 6.83
Litigation Charge, Supplemental -- -- -- --
Restructuring Charge, Supplemental -- 0.00 7.46 --
Other Unusual Expense (Income), Supplemental -- 0.00 9.53 20.22
Non-Recurring Items, Total -- 0.00 6.93 27.05
Total Special Items -- 5.56 -3.26 42.88
Normalized Income Before Taxes -- 235.38 189.56 167.01
Effect of Special Items on Income Taxes -- -7.03 -0.03 -0.30
Income Taxes Excluding Impact of Special Items -- 55.87 122.70 20.16
Normalized Income After Taxes -- 179.52 66.86 146.84
Normalized Income Available to Common -- 155.06 67.20 156.21
Basic Normalized EPS -- 1.28 0.56 1.30
Diluted Normalized EPS -- 1.27 0.56 1.30
Funds From Operations - REIT -- 307.98 234.19 229.27
Amortization of Intangibles, Supplemental -- 18.40 21.60 22.30
Depreciation, Supplemental 125.78 114.53 113.58 112.40
Interest Expense, Supplemental 218.29 164.55 129.46 126.84
Interest Capitalized, Supplemental -- -- -- --
Rental Expense, Supplemental -- 37.36 40.02 39.51
Stock-Based Compensation, Supplemental -- 16.20 19.20 23.90
Equity in Affiliates, Supplemental 4.53 4.77 7.14 9.17
Minority Interest, Supplemental 0.14 0.12 0.19 0.20
Audit-Related Fees, Supplemental -- 3.01 2.71 2.53
Audit-Related Fees -- 0.06 0.76 0.03
Tax Fees, Supplemental -- 0.29 -- --
All Other Fees Paid to Auditor, Supplemental -- -- -- --
Gross Margin -- 30.00 27.81 24.33
Operating Margin -- 14.52 12.97 9.70
Pretax Margin 5.72 9.67 8.54 5.28
Effective Tax Rate 25.64 27.37 63.65 16.49
Net Profit Margin -- 5.99 3.12 4.81
Normalized EBIT -- 383.10 295.02 270.77
Normalized EBITDA -- 516.03 430.19 405.47
Current Tax - Domestic -- 25.70 20.01 8.26
Current Tax - Foreign -- 39.90 7.78 -3.16
Current Tax - Local -- 10.42 8.56 4.15
Current Tax - Total -- 76.03 36.35 9.24
Deferred Tax - Domestic -- 17.33 71.20 -0.26
Deferred Tax - Foreign -- -34.41 -3.41 11.43
Deferred Tax - Local -- 3.96 18.59 0.05
Deferred Tax - Total -- -13.13 86.38 11.22
Income Tax - Total -- 62.90 122.73 20.46
Interest Cost - Domestic -- 0.96 1.27 1.31
Service Cost - Domestic -- 1.12 1.40 1.25
Actuarial Gains and Losses - Domestic -- 0.43 0.79 0.54
Domestic Pension Plan Expense -- 2.51 3.47 3.10
Defined Contribution Expense - Domestic -- 7.80 7.40 8.40
Total Pension Expense -- 10.31 10.87 11.50
Discount Rate - Domestic -- -- 3.05 2.80
Compensation Rate - Domestic -- -- 4.40 4.40
Total Plan Interest Cost -- 0.96 1.27 1.31
Total Plan Service Cost -- 1.12 1.40 1.25
FFO per Share (Diluted) -- -- 1.94 1.91
Adjusted FFO (AFFO) -- 307.98 304.72 300.61
Adjusted FFO per Share (Diluted) -- 2.52 2.52 2.51
Net Operating Income (NOI) -- -- 641.21 601.79

In millions of USD (except for per share items)

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