Income Statement | | | | | | | | | | | | |
| | | | | | | | | | | | Original |
USD | Fiscal Year Ending | | Latest |
(in millions) | Dec-15 | Dec-16 | Dec-17 | Dec-18 | Dec-19 | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 |
| FY - 9 | FY - 8 | FY - 7 | FY - 6 | FY - 5 | FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM |
| | | | | | | | | | | | |
Revenue | 8,753 | 9,879 | 10,768 | 10,938 | 11,409 | 12,092 | 14,777 | 17,468 | 17,362 | 17,878 | | 17,878 |
% Growth | NA | 12.9% | 9.0% | 1.6% | 4.3% | 6.0% | 22.2% | 18.2% | -0.6% | 3.0% | | |
| | | | | | | | | | | | |
Cost of Revenue | (7,454) | (8,775) | (9,296) | (10,094) | (10,339) | (11,254) | (13,412) | (15,657) | (16,244) | (15,566) | | (15,566) |
Gross Profit | 1,299 | 1,104 | 1,472 | 843 | 1,070 | 838 | 1,366 | 1,812 | 1,118 | 2,313 | | 2,313 |
% Revenue | 14.8% | 11.2% | 13.7% | 7.7% | 9.4% | 6.9% | 9.2% | 10.4% | 6.4% | 12.9% | | 12.9% |
| | | | | | | | | | | | |
Research and Development | (4) | (4) | (4) | (4) | (5) | (5) | (5) | (13) | (6) | (12) | | (12) |
Selling and Marketing | (6) | (12) | (19) | (21) | (27) | (20) | (32) | (58) | (57) | (70) | | (70) |
General and Admin | (226) | (299) | (371) | (322) | (353) | (572) | (1,116) | (547) | (457) | (499) | | (499) |
Other Inc / (Exp) | (36) | (33) | (20) | (15) | 51 | 40 | 20 | (25) | (67) | (231) | | (231) |
Total Operating Exp | (272) | (347) | (414) | (362) | (334) | (558) | (1,134) | (643) | (587) | (812) | | (812) |
| | | | | | | | | | | | |
Operating Income | 1,027 | 757 | 1,058 | 481 | 736 | 281 | 232 | 1,169 | 532 | 1,501 | | 1,501 |
% Revenue | 11.7% | 7.7% | 9.8% | 4.4% | 6.5% | 2.3% | 1.6% | 6.7% | 3.1% | 8.4% | | 8.4% |
| | | | | | | | | | | | |
Interest Expense | (43) | (73) | (99) | (149) | (118) | (119) | (140) | (144) | (167) | (89) | | (89) |
Pre-tax Income | 984 | 684 | 959 | 332 | 618 | 162 | 92 | 1,025 | 365 | 1,412 | | 1,412 |
Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Provision for Taxes | (338) | (244) | (264) | (85) | (161) | (67) | (61) | (279) | (43) | (325) | | (325) |
Net Income to Company | 646 | 440 | 695 | 247 | 457 | 95 | 31 | 747 | 322 | 1,087 | | 1,087 |
% Margin | 7.4% | 4.5% | 6.5% | 2.3% | 4.0% | 0.8% | 0.2% | 4.3% | 1.9% | 6.1% | | 6.1% |
| | | | | | | | | | | | |
Minority Interest in Earnings | (0) | 1 | (0) | 1 | (1) | (0) | (0) | (1) | (1) | (1) | | (1) |
Net Income to Stockholders | 646 | 441 | 695 | 248 | 456 | 95 | 31 | 746 | 322 | 1,086 | | 1,086 |
| | | | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Other Adj. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
| | | | | | | | | | | | |
Net Income to Common | 646 | 441 | 695 | 248 | 456 | 95 | 31 | 746 | 322 | 1,086 | | 1,086 |
% Margin | 7.4% | 4.5% | 6.5% | 2.3% | 4.0% | 0.8% | 0.2% | 4.3% | 1.9% | 6.1% | | 6.1% |
| | | | | | | | | | | | |
As Reported | | | | | | | | | | | | |
Basic EPS (Continuing Ops) | 2.50 | 1.74 | 2.79 | 1.00 | 1.83 | 0.39 | 0.13 | 3.11 | 1.36 | 4.58 | | 4.58 |
Diluted EPS (Continuing Ops) | 2.50 | 1.73 | 2.79 | 1.00 | 1.83 | 0.39 | 0.13 | 3.10 | 1.36 | 4.57 | | 4.57 |
| | | | | | | | | | | | |
WA Basic Shares Out. | 258.44 | 253.67 | 248.74 | 248.95 | 249.40 | 245.94 | 243.65 | 239.77 | 236.73 | 237.01 | | 237.01 |
WA Diluted Shares Out. | 258.68 | 254.13 | 248.97 | 249.15 | 249.71 | 246.12 | 244.13 | 240.39 | 237.30 | 237.80 | | 237.80 |
| | | | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | | | |
EBT, Incl. Unusual Items | 984 | 684 | 959 | 332 | 618 | 162 | 92 | 1,025 | 365 | 1,412 | | 1,412 |
Addback: Net Interest Expense | 43 | 73 | 99 | 149 | 118 | 119 | 140 | 144 | 167 | 89 | | 89 |
Addback: Other Non Operating Expenses, Total | 17 | (5) | (9) | 14 | 12 | (39) | (21) | 7 | (11) | (17) | | (17) |
Addback: Depreciation & Amortization | 170 | 226 | 272 | 274 | 287 | 337 | 381 | 403 | 420 | 434 | | 434 |
Addback: Restructuring Charges | 6 | 1 | 10 | 5 | (0) | 0 | 6 | 30 | 44 | 93 | | 93 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Asset Writedown | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39 | 167 | | 167 |
Addback: Other Unusual Items | 17 | 40 | 23 | 0 | (57) | 4 | 0 | 0 | 0 | 0 | | 0 |
Adjusted EBITDA | 1,237 | 1,020 | 1,354 | 775 | 978 | 583 | 598 | 1,610 | 1,025 | 2,178 | | 2,178 |
% Margin | 14.1% | 10.3% | 12.6% | 7.1% | 8.6% | 4.8% | 4.0% | 9.2% | 5.9% | 12.2% | | 12.2% |
| | | | | | | | | | | | |
Adjusted EBIT | 1,067 | 793 | 1,082 | 500 | 690 | 246 | 217 | 1,207 | 605 | 1,744 | | 1,744 |
% Margin | 12.2% | 8.0% | 10.0% | 4.6% | 6.1% | 2.0% | 1.5% | 6.9% | 3.5% | 9.8% | | 9.8% |
| | | | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | | | |
Net Income to Company | 646 | 440 | 695 | 247 | 457 | 95 | 31 | 747 | 322 | 1,087 | | 1,087 |
Addback: Unusual Items | 23 | 41 | 33 | 5 | (57) | 4 | 6 | 30 | 84 | 261 | | 261 |
Less: Tax Benefit of Unusual Items (26%) | (6) | (11) | (9) | (1) | 15 | (1) | (2) | (8) | (22) | (68) | | (68) |
Adjusted Net Income | 663 | 470 | 719 | 250 | 414 | 98 | 36 | 769 | 384 | 1,280 | | 1,280 |
% Margin | 7.6% | 4.8% | 6.7% | 2.3% | 3.6% | 0.8% | 0.2% | 4.4% | 2.2% | 7.2% | | 7.2% |