Income Statement

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  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 2,376.73 2,256.61 2,350.10 2,477.92
Revenue 2,376.73 2,256.61 2,350.10 2,477.92
Total Revenue 2,376.73 2,256.61 2,350.10 2,477.92
Cost of Revenue 1,663.73 1,629.05 1,778.33 1,860.76
Cost of Revenue, Total 1,663.73 1,629.05 1,778.33 1,860.76
Gross Profit 713.00 627.57 571.77 617.16
Selling/General/Administrative Expense 196.97 204.31 193.37 185.93
Selling/General/Administrative Expenses, Total 196.97 204.31 193.37 185.93
Depreciation 132.93 135.18 134.68 130.83
Depreciation/Amortization 132.93 135.18 134.68 130.83
Impairment-Assets Held for Use 0.00 0.00 21.15 --
Other Unusual Expense (Income) 37.90 -4.69 -5.32 4.80
Unusual Expense (Income) 37.90 -4.69 15.83 4.80
Total Operating Expense 2,031.52 1,963.84 2,122.21 2,182.30
Operating Income 345.21 292.78 227.89 295.62
Interest Expense - Non-Operating -164.55 -129.46 -126.84 -151.02
Interest Expense, Net Non-Operating -164.55 -129.46 -126.84 -151.02
Interest Income, Non-Operating 16.83 24.01 23.07 28.93
Interest/Investment Income, Non-Operating 16.83 24.01 23.07 28.93
Interest Income (Expense), Net-Non-Operating, Total -147.72 -105.45 -103.77 -122.09
Gain (Loss) on Sale of Assets 32.33 5.50 -- --
Net Income Before Taxes 229.82 192.82 124.13 173.53
Income Tax – Total 62.90 122.73 20.46 16.65
Income After Tax 166.92 70.09 103.67 156.88
Minority Interest 0.12 0.19 0.20 0.19
Equity In Affiliates 4.77 7.14 9.17 9.53
Net Income Before Extraordinary Items 171.81 77.42 113.03 166.60
Discontinued Operations -- -- -- --
Extraordinary Item -- -- -- 0.00
Total Extraordinary Items -- -- -- 0.00
Net Income 171.81 77.42 113.03 166.60
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 70.44 113.03 166.60
Income Available to Common Stocks Including Extraordinary Items 142.47 70.44 113.03 166.60
Basic Weighted Average Shares 121.04 120.38 119.72 119.10
Basic EPS Excluding Extraordinary Items 1.18 0.59 0.94 1.40
Basic EPS Including Extraordinary Items 1.18 0.59 0.94 1.40
Diluted Net Income 142.47 70.44 113.03 166.60
Diluted Weighted Average Shares 122.28 120.73 119.99 119.31
Diluted EPS Excluding Extraordinary Items 1.17 0.58 0.94 1.40
Diluted EPS Including Extraordinary Items 1.17 0.58 0.94 1.40
DPS - Common Stock Primary Issue -- -- 1.78 1.92
Gross Dividends - Common Stock 0.00 30.49 216.15 232.55
(Gain) Loss on Sale of Assets, Supplemental -- -10.06 6.83 -2.69
Litigation Charge, Supplemental -- -- -- -2.00
Restructuring Charge, Supplemental 0.00 7.46 -- --
Other Unusual Expense (Income), Supplemental 0.00 9.53 20.22 -13.54
Non-Recurring Items, Total 0.00 6.93 27.05 -18.23
Total Special Items 5.56 -3.26 42.88 -13.44
Normalized Income Before Taxes 235.38 189.56 167.01 160.09
Effect of Special Items on Income Taxes -7.03 -0.03 -0.30 1.08
Income Taxes Excluding Impact of Special Items 55.87 122.70 20.16 17.73
Normalized Income After Taxes 179.52 66.86 146.84 142.37
Normalized Income Available to Common 155.06 67.20 156.21 152.09
Basic Normalized EPS 1.28 0.56 1.30 1.28
Diluted Normalized EPS 1.27 0.56 1.30 1.27
Funds From Operations - REIT 307.98 234.19 229.27 260.74
Amortization of Intangibles, Supplemental 18.40 21.60 22.30 22.30
Depreciation, Supplemental 114.53 113.58 112.40 108.53
Interest Expense, Supplemental 164.55 129.46 126.84 151.02
Interest Capitalized, Supplemental -- -- -- -0.40
Rental Expense, Supplemental 37.36 40.02 39.51 48.89
Stock-Based Compensation, Supplemental 16.20 19.20 23.90 22.34
Equity in Affiliates, Supplemental 4.77 7.14 9.17 9.53
Minority Interest, Supplemental 0.12 0.19 0.20 0.19
Audit-Related Fees, Supplemental 3.01 2.71 2.53 2.80
Audit-Related Fees 0.06 0.76 0.03 0.03
Tax Fees, Supplemental 0.29 -- -- 0.00
All Other Fees Paid to Auditor, Supplemental -- -- -- 0.00
Gross Margin 30.00 27.81 24.33 24.91
Operating Margin 14.52 12.97 9.70 11.93
Pretax Margin 9.67 8.54 5.28 7.00
Effective Tax Rate 27.37 63.65 16.49 9.59
Net Profit Margin 5.99 3.12 4.81 6.72
Normalized EBIT 383.10 295.02 270.77 282.18
Normalized EBITDA 516.03 430.19 405.47 413.01
Current Tax - Domestic 25.70 20.01 8.26 13.02
Current Tax - Foreign 39.90 7.78 -3.16 -0.88
Current Tax - Local 10.42 8.56 4.15 5.09
Current Tax - Total 76.03 36.35 9.24 17.24
Deferred Tax - Domestic 17.33 71.20 -0.26 -7.03
Deferred Tax - Foreign -34.41 -3.41 11.43 6.82
Deferred Tax - Local 3.96 18.59 0.05 -0.38
Deferred Tax - Total -13.13 86.38 11.22 -0.59
Income Tax - Total 62.90 122.73 20.46 16.65
Interest Cost - Domestic 0.96 1.27 1.31 1.39
Service Cost - Domestic 1.12 1.40 1.25 1.00
Prior Service Cost - Domestic -- -- -- --
Actuarial Gains and Losses - Domestic 0.43 0.79 0.54 0.21
Domestic Pension Plan Expense 2.51 3.47 3.10 2.60
Defined Contribution Expense - Domestic 7.80 7.40 8.40 5.40
Total Pension Expense 10.31 10.87 11.50 8.00
Discount Rate - Domestic -- 3.05 2.80 3.40
Compensation Rate - Domestic -- 4.40 4.40 4.40
Total Plan Interest Cost 0.96 1.27 1.31 1.39
Total Plan Service Cost 1.12 1.40 1.25 1.00
FFO per Share (Diluted) -- 1.94 1.91 2.19
Adjusted FFO (AFFO) 307.98 304.72 300.61 328.43
Adjusted FFO per Share (Diluted) 2.52 2.52 2.51 2.75
Net Operating Income (NOI) -- 641.21 601.79 654.67

In millions of USD (except for per share items)

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