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Annual Income Statement
(In Millions of U.S. Dollars except for per share
items)
| Period Ended |
12/31/09 |
12/31/08 |
12/31/07 |
12/31/06 |
12/31/05 |
| Revenue |
1,770.18 |
2,212.74 |
2,095.02 |
1,510.73 |
1,068.78 |
| Other, Net |
6.87 |
-9.13 |
0.23 |
0.2 |
0.47 |
| Net Income Before Taxes |
501.09 |
654.09 |
739.09 |
493.35 |
345.47 |
| Provision for Income Taxes |
133.59 |
226.46 |
255.29 |
176.38 |
127.63 |
| Net Income After Taxes |
367.5 |
427.63 |
483.8 |
316.98 |
217.84 |
| Net Income Before Extra. Items |
367.5 |
427.63 |
483.8 |
316.98 |
217.84 |
| Discontinued Operations |
NA |
0 |
0 |
1.27 |
11.96 |
| Total Extraordinary Items |
NA |
0 |
0 |
1.27 |
11.96 |
| Net Income |
367.5 |
427.63 |
483.8 |
318.25 |
229.8 |
| Income Available to Com Excl ExtraOrd |
367.5 |
427.63 |
483.8 |
316.98 |
217.84 |
| Income Available to Com Incl ExtraOrd |
367.5 |
427.63 |
483.8 |
318.25 |
229.8 |
| Basic Weighted Average Shares |
113.52 |
112.63 |
110.94 |
110.28 |
108.72 |
| Basic EPS Excluding Extraordinary Items |
3.24 |
3.8 |
4.36 |
2.87 |
2 |
| Basic EPS Including Extraordinary Items |
3.24 |
3.8 |
4.36 |
2.89 |
2.11 |
| Dilution Adjustment |
0 |
0 |
0 |
0 |
NA |
| Diluted Net Income |
367.5 |
427.63 |
483.8 |
318.25 |
229.8 |
| Diluted Weighted Average Shares |
113.58 |
113.35 |
112.27 |
111.78 |
110.3 |
| Diluted EPS Excluding ExtraOrd Items |
3.24 |
3.77 |
4.31 |
2.84 |
1.97 |
| Diluted EPS Including ExtraOrd Items |
3.24 |
3.77 |
4.31 |
2.85 |
2.08 |
| DPS - Common Stock Primary Issue |
0 |
0.4 |
0.4 |
0.55 |
0.5 |
| Gross Dividends - Common Stock |
0 |
45.02 |
44.37 |
60.73 |
54.18 |
| Pro Forma Stock Compensation Expense |
NA |
NA |
NA |
NA |
2.98 |
| Net Income after Stock Based Comp. Exp. |
NA |
NA |
NA |
NA |
226.82 |
| Basic EPS after Stock Based Comp. Exp. |
NA |
NA |
NA |
NA |
2.09 |
| Diluted EPS after Stock Based Comp. Exp. |
NA |
NA |
NA |
NA |
2.06 |
| Stock-Based Compensation, Supplemental |
13.03 |
15.83 |
9.33 |
10.75 |
NA |
| Interest Expense, Supplemental |
8.03 |
1.2 |
15.94 |
20.57 |
22 |
| Interest Capitalized, Supplemental |
-21.49 |
-17.43 |
-9.98 |
-7.76 |
-3.8 |
| Depreciation, Supplemental |
171.45 |
140.5 |
117.8 |
88.77 |
79.99 |
| Total Special Items |
-5.75 |
43.38 |
-40.51 |
-20.27 |
-66.4 |
| Normalized Income Before Taxes |
495.34 |
697.47 |
698.58 |
473.09 |
279.07 |
| Effect of Special Items on Income Taxes |
-1.53 |
15.02 |
-13.99 |
-7.25 |
-24.53 |
| Inc Tax Ex Impact of Sp Items |
132.05 |
241.48 |
241.29 |
169.13 |
103.1 |
| Normalized Income After Taxes |
363.29 |
455.99 |
457.29 |
303.96 |
175.97 |
| Normalized Inc. Avail to Com. |
363.29 |
455.99 |
457.29 |
303.96 |
175.97 |
| Basic Normalized EPS |
3.2 |
4.05 |
4.12 |
2.76 |
1.62 |
| Diluted Normalized EPS |
3.2 |
4.02 |
4.07 |
2.72 |
1.6 |
| Amort of Intangibles, Supplemental |
NA |
0.9 |
1 |
1.2 |
1.3 |
| Rental Expense, Supplemental |
7.1 |
10.9 |
15.4 |
14.2 |
19 |
| Audit Fees |
3.39 |
3.59 |
3.17 |
3.75 |
NA |
| Audit-Related Fees |
0 |
0.01 |
0 |
0.02 |
NA |
| Tax Fees |
1.46 |
2.06 |
0.59 |
0.15 |
NA |
| All Other Fees |
0 |
0 |
0 |
0 |
NA |
| Reported Operating Profit |
501.01 |
658.12 |
733.87 |
485.69 |
340.6 |
| Gross Margin |
43.47 |
43.3 |
43.3 |
41.94 |
39.94 |
| Operating Margin |
28.3 |
29.74 |
35.03 |
32.15 |
31.87 |
| Pretax Margin |
28.31 |
29.56 |
35.28 |
32.66 |
32.32 |
| Effective Tax Rate |
26.66 |
34.62 |
34.54 |
35.75 |
36.94 |
| Net Profit Margin |
20.76 |
19.33 |
23.09 |
20.98 |
20.38 |
| Normalized EBIT |
495.27 |
701.51 |
693.37 |
465.43 |
274.2 |
| Normalized EBITDA |
666.71 |
842.9 |
812.16 |
555.4 |
355.49 |
| Current Tax - Total |
80.93 |
173.03 |
199.88 |
82.39 |
13.7 |
| Deferred Tax - Total |
52.65 |
53.43 |
55.41 |
93.99 |
113.94 |
| Income Tax - Total |
133.59 |
226.46 |
255.29 |
176.38 |
127.63 |
| Interest Cost - Domestic |
32.48 |
31.6 |
28.97 |
25.3 |
21.82 |
| Service Cost - Domestic |
15.94 |
14.39 |
14.57 |
12.45 |
10.43 |
| Prior Service Cost - Domestic |
-3.47 |
-0.26 |
-0.21 |
0.17 |
0.17 |
| Expected Return on Assets - Domestic |
-28.88 |
-29.32 |
-26.62 |
-24.76 |
-23.7 |
| Actuarial Gains and Losses - Domestic |
16.28 |
8.9 |
13.33 |
13.35 |
10.59 |
| Domestic Pension Plan Expense |
32.36 |
25.32 |
30.03 |
26.51 |
19.3 |
| Interest Cost - Post-Retirement |
4.59 |
4.42 |
4.09 |
3.9 |
3.52 |
| Service Cost - Post-Retirement |
2.04 |
2.02 |
2.07 |
1.99 |
1.82 |
| Prior Service Cost - Post-Retirement |
-0.2 |
-0.2 |
-0.21 |
-0.2 |
-0.2 |
| Actuarial Gains and Losses - Post-Retir. |
0.22 |
0.27 |
0.53 |
0.74 |
0.38 |
| Transition Costs - Post-Retirement |
0.66 |
0.66 |
0.66 |
0.66 |
0.66 |
| Post-Retirement Plan Expense |
7.31 |
7.16 |
7.14 |
7.08 |
6.18 |
| Defined Contribution Expense - Domestic |
9.7 |
9.5 |
5.2 |
4.6 |
3.7 |
| Total Pension Expense |
49.36 |
41.98 |
42.37 |
38.19 |
29.18 |
| Discount Rate - Domestic |
6.41 |
6.54 |
5.92 |
5.56 |
5.75 |
| Discount Rate - Post-Retirement |
6.34 |
6.37 |
NA |
NA |
NA |
| Expected Rate of Return - Domestic |
8 |
8 |
8 |
8 |
8.5 |
| Compensation Rate - Domestic |
4.15 |
4.15 |
4.15 |
4.15 |
4 |
| Total Plan Interest Cost |
37.07 |
36.02 |
33.05 |
29.2 |
25.34 |
| Total Plan Service Cost |
17.98 |
16.41 |
16.63 |
14.44 |
12.24 |
| Total Plan Expected Return |
-28.88 |
-29.32 |
-26.62 |
-24.76 |
-23.7 |
| Total Revenue |
1,770.18 |
2,212.74 |
2,095.02 |
1,510.73 |
1,068.78 |
| Cost of Revenue, Total |
1,000.71 |
1,254.61 |
1,187.95 |
877.09 |
641.95 |
| Gross Profit |
769.47 |
958.13 |
907.07 |
633.64 |
426.84 |
| Selling/General/Admin. Expenses, Total |
102.76 |
115.23 |
94.91 |
78.24 |
71.43 |
| Depreciation/Amortization |
171.45 |
141.4 |
118.8 |
89.97 |
81.2 |
| Unusual Expense (Income) |
-5.75 |
43.38 |
-40.51 |
-20.27 |
-66.4 |
| Total Operating Expense |
1,269.17 |
1,554.61 |
1,361.15 |
1,025.04 |
728.18 |
| Operating Income |
501.01 |
658.12 |
733.87 |
485.69 |
340.6 |
| Interest Inc.(Exp.),Net-Non-Op., Total |
-6.79 |
5.1 |
4.99 |
7.46 |
4.4 |
