Income Statement

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  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 668.94 713.00 627.57 571.77
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 2,069.31 2,031.52 1,963.84 2,122.21
Operating Income 343.86 345.21 292.78 227.89
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 102.65 166.92 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 107.33 171.81 77.42 113.03
Discontinued Operations -- -- -- --
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 107.33 171.81 77.42 113.03
Miscellaneous Earnings Adjustment -18.22 -29.35 -6.98 --
Total Adjustments to Net Income -18.22 -29.35 -6.98 --
Income Available to Common Excluding Extraordinary Items 89.10 142.47 70.44 113.03
Income Available to Common Stocks Including Extraordinary Items 89.10 142.47 70.44 113.03
Basic Weighted Average Shares 121.91 121.04 120.38 119.72
Basic EPS Excluding Extraordinary Items 0.73 1.18 0.59 0.94
Basic EPS Including Extraordinary Items 0.73 1.18 0.59 0.94
Diluted Net Income 89.10 142.47 70.44 113.03
Diluted Weighted Average Shares 123.70 122.28 120.73 119.99
Diluted EPS Excluding Extraordinary Items 0.72 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 0.00 30.49 216.15
(Gain) Loss on Sale of Assets, Supplemental -- -- -10.06 6.83
Litigation Charge, Supplemental 8.90 -- -- --
Restructuring Charge, Supplemental -- 0.00 7.46 --
Other Unusual Expense (Income), Supplemental 0.81 0.00 9.53 20.22
Non-Recurring Items, Total 9.71 0.00 6.93 27.05
Total Special Items 13.56 5.56 -3.26 42.88
Normalized Income Before Taxes 151.60 235.38 189.56 167.01
Effect of Special Items on Income Taxes 3.48 -7.03 -0.03 -0.30
Income Taxes Excluding Impact of Special Items 38.87 55.87 122.70 20.16
Normalized Income After Taxes 112.73 179.52 66.86 146.84
Normalized Income Available to Common 99.18 155.06 67.20 156.21
Basic Normalized EPS 0.81 1.28 0.56 1.30
Diluted Normalized EPS 0.80 1.27 0.56 1.30
Funds From Operations - REIT -- 307.98 234.19 229.27
Amortization of Intangibles, Supplemental 11.80 18.40 21.60 22.30
Depreciation, Supplemental 113.98 114.53 113.58 112.40
Interest Expense, Supplemental 218.29 164.55 129.46 126.84
Interest Capitalized, Supplemental -- -- -- --
Rental Expense, Supplemental 34.26 37.36 40.02 39.51
Stock-Based Compensation, Supplemental 15.07 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 27.72 30.00 27.81 24.33
Operating Margin 14.25 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 3.69 5.99 3.12 4.81
Normalized EBIT 362.10 383.10 295.02 270.77
Normalized EBITDA 487.89 516.03 430.19 405.47
Current Tax - Domestic 23.11 25.70 20.01 8.26
Current Tax - Foreign 4.68 39.90 7.78 -3.16
Current Tax - Local 6.14 10.42 8.56 4.15
Current Tax - Total 33.92 76.03 36.35 9.24
Deferred Tax - Domestic 1.26 17.33 71.20 -0.26
Deferred Tax - Foreign -0.55 -34.41 -3.41 11.43
Deferred Tax - Local 0.77 3.96 18.59 0.05
Deferred Tax - Total 1.48 -13.13 86.38 11.22
Income Tax - Total 35.40 62.90 122.73 20.46
Interest Cost - Domestic 1.35 0.96 1.27 1.31
Service Cost - Domestic 0.75 1.12 1.40 1.25
Actuarial Gains and Losses - Domestic 0.00 0.43 0.79 0.54
Domestic Pension Plan Expense 2.09 2.51 3.47 3.10
Defined Contribution Expense - Domestic 9.20 7.80 7.40 8.40
Total Pension Expense 11.29 10.31 10.87 11.50
Discount Rate - Domestic -- -- 3.05 2.80
Compensation Rate - Domestic -- -- 4.40 4.40
Total Plan Interest Cost 1.35 0.96 1.27 1.31
Total Plan Service Cost 0.75 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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