Balance Sheet

Assets
Fiscal year is January-December. All values USD millions.
Cash & Short Term Investments

2011

2012

2013

2014

2015

5-year trend

2.43B

2.86B

3.75B

3.77B

4.95B

Cash Only

1.16B

849.88M

1.37B

1.32B

2.13B

Short-Term Investments

1.27B

2.01B

2.38B

2.45B

2.82B

1.32B

1.53B

1.88B

2.29B

2.62B

1.32B

1.53B

1.88B

2.29B

2.62B

Accounts Receivables, Gross

1.34B

1.55B

1.9B

2.33B

2.66B

Bad Debt/Doubtful Accounts

(24.66M)

(25.82M)

(26.82M)

(36.93M)

(39M)

Finished Goods

Work in Progress

Raw Materials

Progress Payments & Other

334.57M

421.79M

525.14M

682.31M

337.5M

334.57M

421.79M

525.14M

682.31M

337.5M

4.09B

4.81B

6.15B

6.75B

7.91B

Total Accounts Receivable

Accounts Receivables, Net

Other Receivables
Inventories

Other Current Assets

Miscellaneous Current Assets
Total Current Assets

2011
Net Property, Plant & Equipment

758.03M

2012
971.49M

2013
1.08B

2014
1.25B

2015
1.27B

5-year trend

2011
Property, Plant & Equipment - Gross

2012

2013

2014

2015

5-year trend

1.21B

1.55B

1.8B

2.1B

2.35B

321.28M

423.34M

444.96M

605.05M

804.9M

55.23M

80.7M

82.95M

82.76M

86M

Computer Software and Equipment

291.88M

352.15M

426.53M

537.3M

696.9M

Other Property, Plant & Equipment

334.01M

432.82M

485.49M

569.55M

647.8M

Accumulated Depreciation

455.51M

573.79M

719.34M

852.12M

1.08B

Total Investments and Advances

386.39M

396.66M

575.51M

3.37B

3.27B

288.77M

309.19M

444.24M

2.41B

2.4B

97.62M

87.48M

131.27M

953.75M

864.3M

113.81M

160.31M

183.01M

209.66M

268.6M

113.81M

160.31M

102.76M

111.49M

131.2M

5.51B

6.52B

8.21B

11.72B

13.07B

Buildings
Land & Improvements

Other Long-Term Investments

Long-Term Note Receivable
Intangible Assets
Net Goodwill
Net Other Intangibles
Other Assets
Tangible Other Assets
Total Assets

Liabilities & Shareholders' Equity

2011
ST Debt & Current Portion LT Debt

2012

2013

2014

2015

700M

406.3M

Short Term Debt

650M

350M

Current Portion of Long Term Debt

50M

56.3M

5-year trend

2011

2012

2013

2014

2015

5-year trend

Accounts Payable

72.21M

108.71M

113.39M

145.69M

165.3M

Income Tax Payable

27.75M

30.02M

24.31M

23.85M

17.1M

Other Current Liabilities

1.11B

1.24B

1.64B

1.72B

2.13B

Dividends Payable

632.65M

661.82M

894.99M

906.75M

1.27B

477.1M

576.78M

741.82M

815.81M

853M

1.21B

1.38B

1.77B

2.59B

2.71B

937.5M

881.2M

937.5M

881.2M

Non-Convertible Debt

937.5M

881.2M

Convertible Debt

(160.85M)

(176.05M)

(200.18M)

107.29M

(344.5M)

Deferred Taxes - Credit

3.34M

2.78M

21.17M

251.72M

3.3M

Deferred Taxes - Debit

164.19M

178.82M

221.35M

144.44M

347.8M

342M

287.08M

277.45M

197.38M

189.1M

342M

287.08M

277.45M

116.42M

139.8M

80.96M

49.3M

1.56B

1.67B

2.07B

3.98B

3.79B

Non-Equity Reserves

Preferred Stock (Carrying Value)

Accrued Payroll
Miscellaneous Current Liabilities
Total Current Liabilities
Long-Term Debt
Long-Term Debt excl. Capitalized Leases

Capitalized Lease Obligations

Provision for Risks & Charges
Deferred Taxes

Other Liabilities
Other Liabilities (excl. Deferred Income)
Deferred Income
Total Liabilities

2011

2012

2013

2014

2015

5-year trend

Redeemable Preferred Stock

Non-Redeemable Preferred Stock

3.95B

4.85B

6.14B

7.74B

9.28B

Common Stock Par/Carry Value

3.03M

3.02M

3.04M

6.09M

6.1M

Retained Earnings

3.58B

4.63B

5.86B

7.3B

8.93B

(3.56M)

11.57M

24.03M

(34.81M)

(89.9M)

1.21M

1.56M

(299,000)

(1.51M)

(4.6M)

Revaluation Reserves

Treasury Stock

3.95B

4.85B

6.14B

7.74B

9.28B

Total Equity

3.95B

4.85B

6.14B

7.74B

9.28B

Liabilities & Shareholders' Equity

5.51B

6.52B

8.21B

11.72B

13.07B

Common Equity (Total)

ESOP Debt Guarantee

Cumulative Translation Adjustment/Unrealized For. Exch. Gain
Unrealized Gain/Loss Marketable Securities

Total Shareholders' Equity

Accumulated Minority Interest

P/L A/c

Fiscal year is January-December. All values USD millions.

2011

2012

2013

2014

2015

5-year trend

Sales/Revenue

6.12B

7.35B

8.84B

10.26B

12.42B

Cost of Goods Sold (COGS) incl. D&A

3.67B

4.35B

5.3B

6.34B

7.71B

3.55B

4.2B

5.13B

6.13B

7.38B

117.4M

149.09M

172.2M

208.07M

330M

107.26M

137.56M

155.68M

172.11M

10.14M

11.53M

16.52M

35.96M

2.45B

3B

3.54B

3.92B

4.71B

COGS excluding D&A

Depreciation & Amortization Expense
Depreciation
Amortization of Intangibles
Gross Income

2011
SG&A Expense

2012

2013

2014

2015

5-year trend

1.33B

1.54B

1.68B

2.01B

2.5B

1.33B

1.54B

1.68B

2.01B

2.5B

Other Operating Expense

Unusual Expense

24M

EBIT after Unusual Expense

1.84B

Non Operating Income/Expense

12.21M

(114.52M)

(201.88M)

(44.07M)

(115.6M)

Non-Operating Interest Income

39.25M

44.51M

48.9M

62.44M

83.7M

Equity in Affiliates (Pretax)

Interest Expense

2.47M

17.7M

2.47M

17.7M

Research & Development

Other SG&A

Gross Interest Expense

2011
Interest Capitalized

2012

2013

2014

2015

5-year trend

1.17B

1.39B

1.69B

1.92B

2.16B

285.53M

336.33M

459.34M

484.76M

540M

Income Tax - Current Domestic

120.44M

265.83M

269.97M

260.26M

351.8M

Income Tax - Current Foreign

173.69M

188.42M

277.56M

324.08M

314.3M

26.55M

(99.65M)

(37.09M)

(20.15M)

(58.1M)

(35.15M)

(18.26M)

(51.11M)

(79.43M)

(68M)

Equity in Affiliates

Other After Tax Income (Expense)

Consolidated Net Income

883.62M

1.05B

1.23B

1.44B

1.62B

Minority Interest Expense

883.62M

1.05B

1.23B

1.44B

1.62B

Extra Items & Gain/Loss Sale Of Assets

Cumulative Effect - Accounting Chg

883.62M

1.05B

1.23B

1.44B

1.62B

883.62M

1.05B

1.23B

1.44B

1.62B

1.46

1.75

2.04

2.37

2.67

606.55M

602.58M

604.01M

608.13M

609.1M

Pretax Income
Income Tax

Income Tax - Deferred Domestic

Income Tax - Deferred Foreign
Income Tax Credits

Net Income
Extraordinaries & Discontinued Operations

Discontinued Operations
Net Income After Extraordinaries
Preferred Dividends
Net Income Available to Common
EPS (Basic)
Basic Shares Outstanding

2011
EPS (Diluted)
Diluted Shares Outstanding
EBITDA

2012

2013

2014

2015

5-year trend

1.43

1.72

2.02

2.35

2.65

620.7M

611.72M

609.66M

612.49M

613.3M

1.24B

1.61B

2.04B

2.12B

2.54B

Cashflow Statement
Operating Activities
Fiscal year is January-December. All values USD millions.

2011

2012

2013

2014

2015

5-year trend

Net Income before Extraordinaries

883.62M

1.05B

1.23B

1.44B

1.62B

Depreciation, Depletion & Amortization

124.18M

156.59M

179.93M

208.07M

330M

Depreciation and Depletion

107.26M

137.56M

155.68M

172.11M

16.92M

19.03M

24.25M

35.96M

(8.6M)

(117.91M)

(88.19M)

(99.58M)

(126.1M)

(8.6M)

(117.91M)

(88.19M)

(99.58M)

(126.1M)

101.71M

66.56M

144.33M

146.23M

217.1M

1.1B

1.16B

1.46B

1.69B

2.04B

(225.75M)

16.08M

(40.87M)

(220.97M)

108.7M

(284.17M)

(158.6M)

(258.47M)

(259.33M)

(322.4M)

Accounts Payable

(8.59M)

32.77M

(12.12M)

25.68M

19.4M

Other Assets/Liabilities

67.01M

141.91M

229.72M

12.68M

411.7M

875.15M

1.17B

1.42B

1.47B

2.15B

Amortization of Intangible Assets

Deferred Taxes & Investment Tax Credit
Deferred Taxes
Investment Tax Credit
Other Funds
Funds from Operations
Extraordinaries
Changes in Working Capital
Receivables

Net Operating Cash Flow

Investing Activities

2011

2012

2013

(288.22M)

(334.47M)

(261.63M)

(212.2M)

(272.8M)

Capital Expenditures (Fixed Assets)

(288.22M)

(334.47M)

(261.63M)

(212.2M)

(272.8M)

Capital Expenditures (Other Assets)

(82.8M)

(59.89M)

(193.81M)

(2.69B)

(1.7M)

(479.26M)

(175.69M)

(275.33M)

(257.05M)

(1.1B)

Purchase of Investments

(1.34B)

(1.43B)

(1.85B)

(2.5B)

(3B)

Sale/Maturity of Investments

859.4M

1.25B

1.57B

2.24B

1.91B

Other Uses

Other Sources

(850.28M)

(570.05M)

(730.76M)

(3.16B)

(1.37B)

2011

2012

2013

Capital Expenditures

Net Assets from Acquisitions

Sale of Fixed Assets & Businesses
Purchase/Sale of Investments

Net Investing Cash Flow

2014

2015

5-year trend

Financing Activities

Cash Dividends Paid - Total

2014

2015

5-year trend

Common Dividends

Preferred Dividends

(294.6M)

(391.36M)

(61.45M)

(146.86M)

(328.4M)

(374.15M)

(520.85M)

(179M)

(248.32M)

(460M)

Change in Capital Stock

Repurchase of Common & Preferred Stk.

2011
Sale of Common & Preferred Stock

2012

2013

2014

2015

5-year trend

79.55M

129.48M

117.56M

101.46M

131.6M

79.55M

129.48M

117.56M

101.46M

131.6M

1.63B

(353.4M)

Change in Current Debt

(300M)

Change in Long-Term Debt

1.63B

(53.4M)

Issuance of Long-Term Debt

1.64B

Reduction in Long-Term Debt

(14.18M)

(53.4M)

39.14M

48.37M

30.58M

23.55M

33.7M

39.14M

48.37M

30.58M

23.55M

33.7M

(255.46M)

(342.99M)

(30.87M)

1.5B

(648.1M)

Exchange Rate Effect

521,000

(378,000)

(19.22M)

(18.58M)

(19.5M)

Miscellaneous Funds

(230.06M)

259.17M

642.93M

(202.86M)

115.1M

586.93M

838.12M

1.16B

1.26B

1.88B

Proceeds from Stock Options

Other Proceeds from Sale of Stock
Issuance/Reduction of Debt, Net

Other Funds
Other Uses
Other Sources
Net Financing Cash Flow

Net Change in Cash

Free Cash Flow