MIRA INFORM REPORT
|
Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL FLAVORS & FRAGRANCES
INC. |
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Registered Office : |
521 West 57th Street, New York, NY 10019 |
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Country : |
United States |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1909 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Manufacturer of flavor and fragrance products used by other
manufacturers to impart or improve flavor or fragrance in a range of consumer
products |
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No. of Employees
: |
5514 Persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
$100,000 (USD) |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
International Flavors & Fragrances Inc.
521 West 57th Street
New York, NY 10019
United States
Tel: 212-765-5500
Fax: 212-708-7132
Web: www.iff.com
Synthesis
Employees: 5,514
Company Type: Public Parent
Corporate Family: 43
Companies
Traded: New York Stock Exchange: IFF
Incorporation Date: 1909
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: US
Dollar
Annual Sales: 2,622.9 1
Net Income: 263.6
Total Assets: 2,872.5 2
Market Value: 4,404.9
(11-Nov-2011)
Business Description
International
Flavors & Fragrances Inc. (IFF) is a creator and manufacturer of flavor and
fragrance products used by other manufacturers to impart or improve flavor or
fragrance in a range of consumer products. Fragrance products are sold to
manufacturers of perfumes, cosmetics, personal care products, hair care
products, deodorants, soaps, detergents, fabric care and air care products. Its
flavor products are sold to manufacturers of prepared foods, beverages,
pharmaceuticals, dairy and confectionery products, as well as the food service
industry. As of December 31, 2010, it had 30 manufacturing facilities with the
manufacturing facilities located in the United States, Great Britain, the
Netherlands, Spain, Argentina, Brazil, Mexico, Australia, the People’s
Republic of China, India, Indonesia, Japan and Singapore. The remaining
manufacturing facilities are located in eight other countries. For the six
months ended 30 June 2011, International Flavors & Fragrances Inc.'s
revenues increased 8% to $1.43B. Net income increased 22% to $160.2M. Revenues
reflect an increased income from Flavor segment and higher income from
Fragrance segments. Net income also reflects a decrease in selling &
administrative expenses, and lower expense in Restructuring and other charges,
net and decrease in other expenses.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1812 - Basic
Organic Chemical Manufacturing
NACE 2002: 2414 - Manufacture
of other organic basic chemicals
NAICS 2002: 325199 - All Other
Basic Organic Chemical Manufacturing
UK SIC 2003: 2414 - Manufacture
of other organic basic chemicals
US SIC 1987: 2869 - Industrial
Organic Chemicals, Not Elsewhere Classified
Key Executives
(Emails Available)
|
Name |
Title |
|
Douglas D. Tough |
Chairman and Chief Executive Officer |
|
Kevin C. Berryman |
Chief Financial Officer, Executive Vice
President |
|
Anne Chwat |
Senior Vice President, General Counsel and
Corporate Secretary |
|
Beth E. Ford |
Executive Vice President - Supply Chain |
|
Ahmet Baydar |
SVP, Research & Development |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Strategic Combinations |
1 |
Evolva Holding SA Enters into
Collaboration with International Flavors & Fragrances Inc. |
13-Jan-2011 |
|
Other Earnings Pre-Announcement |
4 |
International Flavors & Fragrances
Inc. Sees FY 2011 Guidance To Approach Low End Of Long-Term Financial Targets |
8-Nov-2011 |
|
Dividends |
4 |
International Flavors & Fragrances
Inc. Raises Quarterly Dividend |
26-Jul-2011 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Q3 2011
International Flavors & Fragrances Inc Earnings Conference Call - Final |
22-Nov-2011 |
|
Event Brief
of Q3 2011 International Flavors & Fragrances Inc Earnings Conference
Call - Final |
22-Nov-2011 |
|
Thinking
big, literally, to make a point |
21-Nov-2011 |
|
IFF Reports
Third Quarter 2011 Results |
16-Nov-2011 |
|
Very Low
Volume and Small Trading Range as Indices Consolidate |
14-Nov-2011 |
Financial Summary
As of 30-Sep-2011
Key Ratios Company Industry
Current Ratio (MRQ) 2.40 2.18
Quick Ratio (MRQ) 1.48 1.35
Debt to Equity (MRQ) 0.76 0.82
Sales 5 Year Growth 5.64 6.26
Net Profit Margin (TTM) % 10.75 10.56
Return on Assets (TTM) % 10.23 8.26
Return on Equity (TTM) % 27.10 22.07
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
521 West 57th Street
New York, NY, 10019
New York County
United States
Tel: 212-765-5500
Fax: 212-708-7132
Web: www.iff.com
Quote Symbol - Exchange
IFF - New York
Stock Exchange
Sales USD(mil): 2,622.9
Assets USD(mil): 2,872.5
Employees: 5,514
Fiscal Year End: 31-Dec-2010
Industry: Chemical Manufacturing
Incorporation Date: 1909
Company Type: Public Parent
Quoted Status: Quoted
CEO: Richard Goldstein
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Executives
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Product Codes
· Brand/Trade Names
· Financial Data
· Key Corporate Relationships
· Additional Information
Industry Codes
ANZSIC 2006 Codes:
1812 - Basic Organic Chemical Manufacturing
NACE 2002 Codes:
2414 - Manufacture of other organic basic chemicals
NAICS 2002 Codes:
325199 - All Other Basic Organic Chemical Manufacturing
US SIC 1987:
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2414 - Manufacture of other organic basic chemicals
Business
Description
International
Flavors & Fragrances Inc. (IFF), incorporated in 1909, is a creator and
manufacturer of flavor and fragrance products used by other manufacturers to
impart or improve flavor or fragrance in a range of consumer products.
Fragrance products are sold to manufacturers of perfumes, cosmetics, personal
care products, hair care products, deodorants, soaps, detergents, fabric care
and air care products. Its flavor products are sold to manufacturers of
prepared foods, beverages, pharmaceuticals, dairy and confectionery products,
as well as the food service industry. As of December 31, 2010, it had 30
manufacturing facilities with the manufacturing facilities located in the
United States, Great Britain, the Netherlands, Spain, Argentina, Brazil,
Mexico, Australia, the People’s Republic of China, India, Indonesia, Japan
and Singapore. The remaining manufacturing facilities are located in eight
other countries.
The Company’s
flavor products are sold principally to the food and beverage industries for
use in consumer products, such as soft drinks, non-carbonated drinks, candies,
baked goods, desserts, prepared foods, dietary foods, dairy products, drink
powders, pharmaceuticals, snack foods and alcoholic beverages. During the year
ended December 31, 2010, sales of flavor products accounted for 46% of its
total sales. Its fragrance products are used by customers in the manufacture of
various consumer goods in the home and personal care markets. The home market
consists of laundry detergents, fabric care, candles, air fresheners and
all-purpose cleaners. The personal care market consists of perfumes, colognes,
after-shave lotions, skin care, lipsticks, deodorants and hair preparations.
During 2010, sales of fragrance products accounted for 54% of its total sales.
The Company’s
principal fragrance and flavor products consist of compounds of ingredients
blended in formulas created by its perfumers and flavorists. These compounds
contribute the total fragrance or flavor to the consumer products, in which
they are used. A range of compounds are sold to manufacturers who further blend
them to achieve the finished fragrance or flavor in their products. It produces
thousands of compounds. Its products are sold in powder and liquid forms and in
amounts ranging from a few pounds to many tons, depending upon the nature of
the product. The ingredients that it uses in its compounds are both synthetic
and natural. It manufactures a range of the synthetic ingredients. While a
range of its synthetic ingredients production is used in its compounds, a
portion is also sold to others. Natural ingredients are derived from flowers,
fruits and other botanical products, as well as from animal products. They
contain a range of organic chemicals, which are responsible for the fragrance
or flavor of the natural product. The natural products are purchased in
processed or semi-processed form.
Natural products,
together with various chemicals, are used as raw materials for the manufacture
of synthetic ingredients by chemical processes. Its flavor products also
include extracts and seasonings derived from various fruits, vegetables, nuts,
herbs and spices, as well as microbiologically-derived ingredients. As of
December 31, 2010, its creative and technical product development is conducted
in 33 fragrance and flavor laboratories in 26 countries. It maintains a
research and development center at Union Beach, New Jersey
More Business Descriptions
International
Flavors & Fragrances Inc. (IFF) is a creator and manufacturer of flavor and
fragrance products used by other manufacturers to impart or improve flavor or
fragrance in a range of consumer products. Fragrance products are sold to
manufacturers of perfumes, cosmetics, personal care products, hair care
products, deodorants, soaps, detergents, fabric care and air care products. Its
flavor products are sold to manufacturers of prepared foods, beverages,
pharmaceuticals, dairy and confectionery products, as well as the food service
industry. As of December 31, 2010, it had 30 manufacturing facilities with the
manufacturing facilities located in the United States, Great Britain, the
Netherlands, Spain, Argentina, Brazil, Mexico, Australia, the People’s
Republic of China, India, Indonesia, Japan and Singapore. The remaining
manufacturing facilities are located in eight other countries. For the six
months ended 30 June 2011, International Flavors & Fragrances Inc.'s
revenues increased 8% to $1.43B. Net income increased 22% to $160.2M. Revenues
reflect an increased income from Flavor segment and higher income from Fragrance
segments. Net income also reflects a decrease in selling & administrative
expenses, and lower expense in Restructuring and other charges, net and
decrease in other expenses.
Establishments
primarily engaged in manufacturing industrial organic chemicals, not elsewhere
classified. Important products of this industry include: (1) aliphatic and
other acyclic organic chemicals, such as ethylene, butylene, and butadiene;
acetic, chloroacetic, adipic, formic, oxalic, and tartaric acids and their
metallic salts; chloral, formaldehyde, and methylamine; (2) solvents, such as
amyl, butyl, and ethyl alcohols; methanol; amyl, butyl, and ethyl acetates;
ethyl ether, ethylene glycol ether, and diethylene glycol ether; acetone,
carbon disulfide and chlorinated solvents, such as carbon tetrachloride,
perchloroethylene, and trichloroethylene; (3) polyhydric alcohols, such as
ethylene glycol, sorbitol, pentaerythritol, synthetic glycerin; (4) synthetic
perfume and flavoring materials, such as coumarin, methyl salicylate,
saccharin, citral, citronellal, synthetic geraniol, ionone, terpineol, and
synthetic vanillin; (5) rubber processing chemicals, such as accelerators and
antioxidants, both cyclic and acyclic; (6) plasticizers, both cyclic and
acyclic, such as esters of phosphoric acid, phthalic anhydride, adipic acid,
lauric acid, oleic acid, sebacic acid, and stearic acid; (7) synthetic tanning
agents, such as naphthalene sulfonic acid condensates; (8) chemical warfare
gases; and (9) esters, amines, etc., of polyhydric alcohols and fatty and other
acids.
IFF (USA) is a
major producer of flavors and fragrances.Fragrance products are sold
principally to manufacturers of perfumes, cosmetics, personal and hair care
products, deodorants, soaps, detergents and air care products. Flavor products
are sold principally to manufacturers of prepared foods, beverages, dairy
foods, pharmaceuticals and confectionery products and the food service
industry.
International
Flavors & Fragrances and its subsidiaries are among the leading creators
and manufacturers of flavor and fragrance products used by manufacturers to
improve flavor or fragrance in a variety of consumer products. Fragrance
products are sold principally to manufacturers of perfumes, cosmetics,
toiletries, hair care products, deodorants, soaps, detergents and air care
products while its flavor products are sold principally to manufacturers of
prepared foods, beverages, dairy foods, pharmaceuticals and confectionery
products, as well as the food service industry. Incorporated in 1909, the
company is publicly traded and listed on the New York Stock Exchange.
International Flavors & Fragrances maintains corporate headquarters in New
York.
Producer of flavor
enhancers and fragrance chemicals. Product applications include enhancements
for various household products including soaps and detergents, toiletries, as
well as beverages and food products. Provider of related product research and
development services. Products and services are sold to multiple industries.
Product Codes
Product Code Product Description
CHE-AP-C Fragrance
chemicals
CHE-AP-F Flavor enhancers
CHE-SV-R Chemical R&D
services
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The Strategic
Initiatives report is created using technology to extract meaningful insights
from analyst reports about a company's strategic projects and investments. More
about Strategic Initiatives
Strategic Initiatives
Product
As such GlobalData
can accept no liability whatever for actions taken based on any information that
may subsequently prove to be incorrect. Sep 22, 2010IFF Appoints Ahmet Dr.
Baydar As Senior Vice President Of Research And DevelopmentInternational
Flavors & Fragrances Inc. (IFF) has appointed Ahmet Dr. Baydar to the
newly-created role of senior vice president of research and development
(R&D). In this position, Dr. Baydar has responsibility for the leadership
and development of the company's global R&D strategy. He will lead the
company's efforts in innovation, technological development and external collaborations.For
the past two years, Dr. Baydar served as IFF's vice president of global
fragrance research and was responsible for overseeing the efforts of the
fragrance synthesis, research perfumery, process engineering and naturals
research groups. Dr. Baydar has spent over 30 years collaboratively working
among world-class R&D leaders within the flavor and fragrance industry.
Credit Report as of 04/01/2011
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Location |
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521 W 57th St Ste: 9 |
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County: |
New York |
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MSA: |
New York, NY |
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Phone: |
212-765-5500 |
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Fax: |
212-708-7132 |
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URL: |
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ABI©: |
003438991 |
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Annual Sales: |
$2,622,862,000 (USD) |
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Employees: |
5,514 |
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Facility Size(ft2): |
40,000+ |
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Business Type: |
Public |
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Location Type: |
Headquarter |
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Ticker: |
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Exchange: |
NYSE |
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RECOMMENDED CREDIT LIMIT * |
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$100,000 (USD) |
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Primary Line of Business: |
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SIC: |
2869-01 - Flavoring Extracts-Mfrs Supls (Mfrs) |
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NAICS: |
311930 - Flavoring Syrup & Concentrate Mfg |
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Secondary Lines of Business: |
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NAICS: |
311942 - Spice & Extract Mfg |
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325620 - Toilet Preparation Mfg |
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325998 - Other Misc Chemical Prod Mfg |
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SICs: |
2087-01 - Flavoring Extracts-Manufacturers |
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2844-98 - Perfumes Cosmetics/Toilet Preps (Mfrs) |
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2899-05 - Chemicals-Manufacturers |
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5999-73 - Perfume-Retail |
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8742-13 - Marketing Programs & Services |
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541613 - Marketing Consulting Svcs |
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446120 - Cosmetic & Beauty Supply Stores |
Table of Contents
Profile Links
Similar Businesses in the Area
Closest Neighbors
External Links
Stock Quote (IFF)
Similar Businesses in the Area *
Frutarom
254 Clary Ext
Eastanollee, GA 30538-3201
Nutra Sweet Co
1762 Lovers Ln
Augusta, GA 30901-1869
Dolce Ingredients
4194 Lyle Rd
Beaverton, MI 48612-8603
Organic
Technologies
1245 S 6th St
Coshocton, OH 43812-2809
Lemon X
100 E 6th St
Frostproof, FL 33843-2300
International
Flavors & Frgncs
650 Highway 36
Hazlet, NJ 07730-1787
GLCC Co
39149 W Red Arrow Hwy
Paw Paw, MI 49079-9389
Taste Advantage
LLC
3135 Drane Field Rd Ste: 22
Lakeland, FL 33811-3315
Tobacco Technology
Inc
600 Liberty Rd
Sykesville, MD 21784-8526
International
Flavors & Frgncs
3005 International Blvd
Augusta, GA 30906-9398
* Similar Businesses are
defined as the closest businesses sharing the same six-digit primary SIC code (
2869-01 - Flavoring Extracts-Mfrs Supls (Mfrs)) regardless of size.
Closest Neighbors
521-533 W 57th
Saint Condos
521 W 57th St
New York, NY 10019-2929
Genzyme Genetics
521 W 57th St Ste: 5
New York, NY 10019-2916
AMV Unitel
515 W 57th St
New York, NY 10019-2901
Fred-Alan Inc
510 W 57th St
New York, NY 10019
International
Multi Sclerosis
521 W 57th St Ste: 4
New York, NY 10019-2929
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Corporate
Family |
Corporate
Structure News: |
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International
Flavors & Fragrances Inc. |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
New York, NY |
United States |
Chemical Manufacturing |
2,622.9 |
5,514 |
|
|
Branch |
Dayton, NJ |
United States |
Food Processing |
219.5 |
380 |
|
|
Subsidiary |
Jakarta Timur |
Indonesia |
Miscellaneous Capital Goods |
|
350 |
|
|
Subsidiary |
Rio de Janeiro, RJ |
Brazil |
Beverages (Non-Alcoholic) |
|
305 |
|
|
Subsidiary |
Tamil Nadu |
India |
Food Processing |
1.0 |
300 |
|
|
Subsidiary |
New Territories, New Territories |
Hong Kong |
Beverages (Non-Alcoholic) |
|
299 |
|
|
International Flavours & Fragrances I.F.F.(Great Britain)Ltd. |
Subsidiary |
Haverhill |
United Kingdom |
Chemical Manufacturing |
188.8 |
291 |
|
Branch |
Union Beach, NJ |
United States |
Food Processing |
151.2 |
280 |
|
|
Subsidiary |
Dijon Cedex |
France |
Food Processing |
32.6 |
277 |
|
|
Subsidiary |
Tlalnepantla, Estado de México |
Mexico |
Chemical Manufacturing |
|
250 |
|
|
Subsidiary |
Neuilly Sur Seine |
France |
Chemical Manufacturing |
64.8 |
224 |
|
|
Subsidiary |
Mumbai |
India |
Food Processing |
90.0 |
200 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Food Processing |
|
200 |
|
|
Subsidiary |
Dandenong, VIC |
Australia |
Food Processing |
31.8 |
120 |
|
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Branch |
Jacksonville, FL |
United States |
Personal and Household Products |
76.9 |
107 |
|
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Subsidiary |
Singapore |
Singapore |
Food Processing |
1.0 |
100 |
|
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Subsidiary |
Barueri , São Paulo |
Brazil |
Food Processing |
|
100 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Miscellaneous Capital Goods |
|
100 |
|
|
Subsidiary |
Bogota, Cundinamarca |
Colombia |
Food Processing |
|
100 |
|
|
Subsidiary |
Isando |
South Africa |
Chemical Manufacturing |
|
79 |
|
|
Branch |
Augusta, GA |
United States |
Food Processing |
160.5 |
70 |
|
|
Subsidiary |
Bogota |
Colombia |
Food Processing |
|
50 |
|
|
Subsidiary |
Grasse |
France |
Chemical Manufacturing |
23.7 |
34 |
|
|
Subsidiary |
Bangkok |
Thailand |
Food Processing |
1.0 |
30 |
|
|
Subsidiary |
Trezzano Sul Naviglio |
Italy |
Food Processing |
1.0 |
30 |
|
|
Subsidiary |
Auckland |
New Zealand |
Food Processing |
1.5 |
24 |
|
|
Subsidiary |
Madrid |
Spain |
Chemical Manufacturing |
39.1 |
21 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Food Processing |
1.0 |
12 |
|
|
Subsidiary |
Hilversum |
Netherlands |
Food Processing |
250.0 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
1.0 |
|
|
|
Branch |
Gotemba |
Japan |
Food Processing |
1.0 |
100 |
|
|
Branch |
Osaka |
Japan |
Retail (Specialty) |
1.0 |
100 |
|
|
Subsidiary |
Shanghai |
China |
Food Processing |
1.0 |
|
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Subsidiary |
6th of October City |
Egypt |
Food Processing |
|
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Subsidiary |
Garin, Buenos Aires |
Argentina |
Food Processing |
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Subsidiary |
Gebze, Kocaeli |
Turkey |
Food Processing |
|
|
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Subsidiary |
Ortigas Centre, Pasig , Metro Manila |
Philippines |
Miscellaneous Capital Goods |
|
|
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Subsidiary |
Warsaw |
Poland |
Food Processing |
|
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Food Processing |
|
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|
|
Subsidiary |
Hilversum, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|
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Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Avon Products, Inc. |
New York, New York, United States |
42,000 |
Public |
|
Campbell Soup Company |
Camden, New Jersey, United States |
17,500 |
Public |
|
Church & Dwight Co., Inc. |
Princeton, New Jersey, United States |
3,600 |
Public |
|
Colgate-Palmolive Company |
New York, New York, United States |
39,200 |
Public |
|
ConAgra Foods, Inc. |
Omaha, Nebraska, United States |
23,200 |
Public |
|
General Mills, Inc. |
Minneapolis, Minnesota, United States |
35,000 |
Public |
|
H.J. Heinz Company |
Pittsburgh, Pennsylvania, United States |
34,800 |
Public |
|
Hormel Foods Corporation |
Austin, Minnesota, United States |
19,400 |
Public |
|
Kellogg Company |
Battle Creek, Michigan, United States |
30,645 |
Public |
|
McCormick & Company, Incorporated |
Sparks, Maryland, United States |
7,500 |
Public |
|
McDonald's Corporation |
Oak Brook, Illinois, United States |
400,000 |
Public |
|
Nestle SA |
Vevey, Switzerland |
281,000 |
Public |
|
PepsiCo, Inc. |
Purchase, New York, United States |
294,000 |
Public |
|
Procter & Gamble Hygiene & Health
Care |
Mumbai, India |
324 |
Public |
|
Revlon, Inc. |
New York, New York, United States |
4,900 |
Public |
|
Sara Lee Corp. |
Downers Grove, Illinois, United States |
21,000 |
Public |
|
Sensient Technologies Corporation |
Milwaukee, Wisconsin, United States |
3,618 |
Public |
|
The Clorox Company |
Oakland, California, United States |
8,100 |
Public |
|
The Coca-Cola Company |
Atlanta, Georgia, United States |
139,600 |
Public |
|
The Estee Lauder Companies Inc. |
New York, New York, United States |
32,300 |
Public |
|
The Hershey Company |
Hershey, Pennsylvania, United States |
11,300 |
Public |
|
Unilever N.V. |
Rotterdam, Netherlands |
167,000 |
Public |
|
Yum! Brands, Inc. |
Louisville, Kentucky, United States |
52,920 |
Public |
Executive report
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Board of
Directors |
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Chairman and Chief Executive Officer |
Chairman |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Board Member |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Lead Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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CEO |
Chief Executive Officer |
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Chairman and Chief Executive Officer |
Chief Executive Officer |
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Group President - Fragrances |
Division Head Executive |
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Group President - Flavors |
Division Head Executive |
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EVP - Global Operations |
Operations Executive |
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Director - Operations |
Operations Executive |
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System Administrator |
Administration Executive |
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Network Administrator |
Administration Executive |
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Senior Vice President, General Counsel and
Corporate Secretary |
Company Secretary |
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Senior Vice President, General Counsel
& Secretary |
Company Secretary |
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Chief Financial Officer, Executive Vice
President |
Finance Executive |
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Manager Global Information Technology
Finance International Flavors and Fragrances |
Finance Executive |
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CFO |
Finance Executive |
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Account Service Representative |
Accounting Executive |
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Senior Account Manger |
Accounting Executive |
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Controller |
Controller |
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Controller |
Controller |
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Vice President, Compensation, Benefits |
Benefits & Compensation Executive |
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Director of Benefits |
Benefits & Compensation Executive |
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Senior Vice President - Human Resources |
Human Resources Executive |
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Human Resources Director |
Human Resources Executive |
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Hris Analyst |
Human Resources Executive |
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Manager Information Technology Training
Performance and Communications |
Training Executive |
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Senior Account Manager |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Account Manager |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Vice President Sales North America Fine |
Sales Executive |
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Senior Account Executive |
Sales Executive |
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Senior Account Executive |
Sales Executive |
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Senior Account Executive |
Sales Executive |
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Director-Sales |
Sales Executive |
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Sales Director |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Senior Account Manager |
Sales Executive |
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Regional Account Manager |
Sales Executive |
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Senior Account Executive |
Sales Executive |
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Global Account Manager |
International Sales Executive |
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Global Account Manager |
International Sales Executive |
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Global Account Executive |
International Sales Executive |
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Global Account Manager |
International Sales Executive |
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Global Account Manager |
International Sales Executive |
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Global Account Manager |
International Sales Executive |
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Director of Shared Services, International Flavors & Fragrances |
International Executive |
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Senior Application Engineer, International Flavors & Fragrances |
International Executive |
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Vice President, Global Technology Development |
International Executive |
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Director of Global Corporate Communciations |
International Executive |
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Manager-Marketing |
Marketing Executive |
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Director of Corporate Communications |
Corporate Communications Executive |
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Director-Investor & Media Relations |
Corporate Communications Executive |
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Art, Design |
Advertising Executive |
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Information Technology Director |
Information Executive |
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Help Desk |
Information Executive |
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Information Technology Director |
Information Executive |
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Vice President Information Technology Business Solutions |
Information Executive |
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Vice President-Information Technology |
Information Executive |
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MIS Director |
Information Executive |
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Information Technology Manager |
Information Executive |
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IT Specialist |
Information Executive |
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Applications Manager |
Information Executive |
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Manager-Information Technology & Telecommuications |
Information Executive |
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Vice President Information Technology |
Information Executive |
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Regional Quality Engineering Manager |
Engineering/Technical Executive |
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Manager, Technical Services |
Engineering/Technical Executive |
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Director, Technical Services |
Engineering/Technical Executive |
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SVP, Research & Development |
Research & Development Executive |
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VP - Research & Development - New
Jersey |
Research & Development Executive |
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Chemist |
Research & Development Executive |
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VP of Product Development |
Product Management Executive |
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Manufacturing VP |
Manufacturing Executive |
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Plant Manager |
Facilities Executive |
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Executive Vice President - Supply Chain |
Purchasing Executive |
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Quality Control VP |
Quality Executive |
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Meeting Management Professional |
Meeting/Travel Planner |
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Senior Vice President and Regional
Manager, Europe |
Other |
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Manager, Infrastructure and Delivery |
Other |
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Senior Vice President & Transition
Leader |
Other |
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Vice President |
Other |
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Vice President, Director |
Other |
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Service Management |
Other |
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Manager |
Other |
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Vice President, Corporate Development |
Other |
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International Flavors & Fragrances
Inc. |
Significant Developments
International
Flavors & Fragrances Inc. Sees FY 2011 Guidance To Approach Low End Of
Long-Term Financial Targets Nov 08, 2011
International
Flavors & Fragrances Inc. announced that it expect local currency sales
growth and adjusted EPS growth to approach the low end of its long-term
financial targets for fiscal 2011.
International
Flavors & Fragrances Inc. Comments On H2, FY 2011 Revenue Guidance;
Comments On Long Term Guidance-Conference Call Aug 09, 2011
International
Flavors & Fragrances Inc. announced that it expect sales will improve over
the balance of fiscal 2011. The Company expects to deliver long-term targets of
4% to 6% local currency sales growth, 7% to 9% operating profit growth, and 10%
plus earnings per share growth annually. It expects local currency sales growth
in the second half of 2011 to be in line with long-term targets of 4% to 6%,
with strongest performance coming in Q4.
International
Flavors & Fragrances Inc. Raises Quarterly Dividend Jul 26, 2011
International
Flavors & Fragrances Inc. announced that its Board of Directors has
authorized an increase in the Company's quarterly cash dividend, raising it 15%
from $0.27 to $0.31. The increased quarterly dividend of $0.31 per share will
be paid on October 5, 2011 to all IFF shareholders of record as of September
21, 2011.
International
Flavors & Fragrances Inc. Comments On Q2 2011 EPS Guidance-Conference Call May
10, 2011
International
Flavors & Fragrances Inc. announced that for second quarter of 2011, it
expects low double digit earnings per share (EPS) growth.
International
Flavors & Fragrances Inc. Declares Dividend For Second Quarter 2011 May 03,
2011
International
Flavors & Fragrances Inc. announced that its Board of Directors has
declared a regular quarterly cash dividend of $0.27 per share on the common
stock of the corporation, payable on July 6, 2011 to shareholders of record on
June 22, 2011.
International
Flavors & Fragrances Inc. Comments On Long Term Guidance; Comments On Q1
2011 Guidance
Mar 15, 2011
International
Flavors & Fragrances Inc. announced that it expects to achieve long term
financial goals of 4% to 6% local currency sales growth, 7% to 9% operating
profit growth and 10% plus earnings per share (EPS) growth. For the first
quarter of 2011, it expects EPS to grow in excess of 10% as the combination of
strong sales growth and continued cost discipline is expected to drive results.
The Company reported revenues of $2.623 billion, EBITDA of $506 million and EPS
of 3.37 in fiscal 2010. According to Reuters Estimates, analysts are expecting
the Company to report revenue of $2.764 billion, EBITDA of $551 million and EPS
of $3.78 for fiscal 2011; revenue of $2.858 billion, EBITDA of $583 million and
EPS of $4.09 for fiscal 2012; revenue of $2.858 billion, EBITDA of $606 million
and EPS of $4.36 for fiscal 2013; revenue of $2.945 billion, EBITDA of $567
million and EPS of $3.83 for fiscal 2014; revenue of $676 million, and EPS of
$0.91 for the first quarter of 2011.
International
Flavors & Fragrances Inc. Declares Dividend for First Quarter 2011 Mar 08,
2011
International
Flavors & Fragrances Inc. announced that its Board of Directors has
declared a regular quarterly cash dividend of $0.27 per share on the common
stock of the corporation, payable on April 6, 2011 to shareholders of record on
March 23, 2011.
Evolva Holding SA
Enters into Collaboration with International Flavors & Fragrances Inc. Jan
13, 2011
Evolva Holding SA
announced that the Company has entered into a collaboration and joint
development agreement with International Flavors & Fragrances Inc., a
creator and manufacturer of flavours and fragrances for consumer products. The
objective of the collaboration is to implement a commercially viable
biosynthetic route for the production of a key flavouring ingredient. Under the
multi-year agreement, Flavors & Fragrances Inc. will fund research and
development activities at Evolva Holding SA, focused primarily on the pathway
and yield stages of the program through the scale-up and manufacturing phases.
International
Flavors & Fragrances Inc. Declares Dividend For Fourth Quarter 2010 Dec 14,
2010
International
Flavors & Fragrances Inc. announced that its Board of Directors has
declared a regular quarterly cash dividend of $0.27 per share on the common
stock of the corporation, payable on January 12, 2011 to shareholders of record
on December 29, 2010.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified Normal |
Reclassified
Normal |
Updated Normal |
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Filed Currency |
USD |
USD |
USD |
USD |
USD |
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Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
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Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
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Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
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Total Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
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Cost of Revenue |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
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Cost of Revenue, Total |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
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Gross Profit |
1,092.6 |
934.2 |
970.9 |
952.2 |
884.1 |
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Selling/General/Administrative Expense |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
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Total Selling/General/Administrative Expenses |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
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Research & Development |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
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Amortization of Intangibles |
- |
- |
- |
12.9 |
14.8 |
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Depreciation/Amortization |
- |
- |
- |
12.9 |
14.8 |
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Interest Expense -
Operating |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
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Interest Expense - Net Operating |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
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Investment Income -
Operating |
- |
- |
- |
- |
7.0 |
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Interest/Investment Income - Operating |
- |
- |
- |
- |
7.0 |
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Interest Expense (Income) - Net Operating Total |
48.7 |
61.8 |
74.0 |
41.5 |
32.5 |
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Restructuring Charge |
10.1 |
18.3 |
18.2 |
0.0 |
2.7 |
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Other Unusual Expense (Income) |
- |
- |
- |
5.9 |
0.0 |
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Unusual Expense (Income) |
10.1 |
18.3 |
18.2 |
5.9 |
2.7 |
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Other, Net |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
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Other Operating Expenses, Total |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
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Total Operating Expense |
2,263.3 |
2,049.6 |
2,105.5 |
1,945.8 |
1,782.1 |
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Operating Income |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
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Income Before Tax |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
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Total Income Tax |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
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Income After Tax |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Net Income Before Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Income Available to Common Excl Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Income Available to Common Incl Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Basic/Primary Weighted Average Shares |
79.5 |
78.4 |
79.0 |
86.5 |
90.4 |
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Basic EPS Excl Extraord Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
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Basic/Primary EPS Incl Extraord Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
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Diluted Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
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Diluted Weighted Average Shares |
80.4 |
79.1 |
79.7 |
87.5 |
91.4 |
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Diluted EPS Excl Extraord Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
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Diluted EPS Incl Extraord Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
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Dividends per Share - Common Stock Primary Issue |
1.04 |
1.00 |
0.96 |
0.88 |
0.77 |
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Gross Dividends - Common Stock |
83.1 |
79.0 |
75.9 |
76.5 |
69.0 |
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Interest Expense, Supplemental |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
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Depreciation, Supplemental |
73.2 |
72.5 |
70.0 |
69.9 |
74.9 |
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Total Special Items |
10.1 |
24.6 |
18.2 |
5.9 |
2.7 |
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Normalized Income Before Tax |
369.7 |
301.2 |
302.1 |
336.8 |
316.0 |
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Effect of Special Items on Income Taxes |
1.1 |
7.2 |
3.5 |
1.5 |
0.7 |
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Inc Tax Ex Impact of Sp Items |
97.2 |
88.2 |
57.8 |
85.2 |
87.5 |
|
Normalized Income After Tax |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
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|
|
|
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|
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Normalized Inc. Avail to Com. |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
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Basic Normalized EPS |
3.43 |
2.72 |
3.09 |
2.91 |
2.53 |
|
Diluted Normalized EPS |
3.39 |
2.69 |
3.07 |
2.87 |
2.50 |
|
Amort of Intangibles, Supplemental |
6.0 |
6.0 |
6.0 |
12.9 |
14.8 |
|
Rental Expenses |
29.0 |
30.0 |
28.0 |
27.0 |
25.0 |
|
Research & Development Exp, Supplemental |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Normalized EBIT |
418.4 |
363.0 |
376.1 |
378.3 |
348.5 |
|
Normalized EBITDA |
497.6 |
441.5 |
452.1 |
461.1 |
438.2 |
|
Current Tax - Domestic |
5.4 |
3.8 |
-8.4 |
9.3 |
2.9 |
|
Current Tax - Foreign |
103.5 |
94.1 |
55.5 |
82.1 |
92.1 |
|
Current Tax - Local |
0.5 |
0.4 |
-0.1 |
-1.4 |
4.2 |
|
Current Tax - Total |
109.3 |
98.4 |
47.0 |
90.0 |
99.2 |
|
Deferred Tax - Domestic |
-21.9 |
-13.8 |
1.6 |
-13.6 |
-10.1 |
|
Deferred Tax - Foreign |
6.3 |
-10.4 |
7.4 |
8.4 |
-1.6 |
|
Deferred Tax - Local |
2.3 |
6.8 |
-1.8 |
-1.0 |
-0.7 |
|
Deferred Tax - Total |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Income Tax - Total |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Interest Cost - Domestic |
24.2 |
23.7 |
23.9 |
24.0 |
21.7 |
|
Service Cost - Domestic |
3.8 |
4.1 |
4.6 |
10.3 |
9.9 |
|
Expected Return on Assets - Domestic |
-24.1 |
-24.6 |
-25.1 |
-24.3 |
-21.9 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
5.9 |
0.0 |
|
Other Pension, Net - Domestic |
7.4 |
6.4 |
4.6 |
6.6 |
7.4 |
|
Domestic Pension Plan Expense |
11.3 |
9.6 |
8.0 |
22.5 |
17.2 |
|
Interest Cost - Foreign |
33.0 |
31.0 |
36.3 |
35.6 |
29.4 |
|
Service Cost - Foreign |
9.8 |
8.7 |
10.3 |
11.6 |
12.7 |
|
Expected Return on Assets - Foreign |
-41.6 |
-40.6 |
-51.3 |
-52.6 |
-39.8 |
|
Curtailments & Settlements - Foreign |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Other Pension, Net - Foreign |
5.2 |
3.0 |
3.0 |
6.1 |
8.8 |
|
Foreign Pension Plan Expense |
6.6 |
2.5 |
-1.7 |
0.7 |
11.1 |
|
Interest Cost - Post-Retirement |
6.5 |
6.2 |
7.1 |
5.9 |
5.5 |
|
Service Cost - Post-Retirement |
1.4 |
1.6 |
2.7 |
2.6 |
2.9 |
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Other Post-Retirement, Net |
-2.2 |
-2.0 |
-0.7 |
-0.3 |
-0.1 |
|
Post-Retirement Plan Expense |
5.6 |
5.8 |
9.1 |
8.2 |
8.3 |
|
Defined Contribution Expense - Domestic |
7.2 |
6.3 |
6.2 |
4.9 |
3.5 |
|
Defined Contribution Expense - Foreign |
4.5 |
4.1 |
4.4 |
4.1 |
3.5 |
|
Total Pension Expense |
35.1 |
28.3 |
25.9 |
40.4 |
43.6 |
|
Discount Rate - Domestic |
6.10% |
6.00% |
6.10% |
6.00% |
5.75% |
|
Discount Rate - Foreign |
5.66% |
6.11% |
5.78% |
4.95% |
4.57% |
|
Discount Rate - Post-Retirement |
6.10% |
6.00% |
- |
6.00% |
5.75% |
|
Expected Rate of Return - Domestic |
8.25% |
8.25% |
8.25% |
8.25% |
8.25% |
|
Expected Rate of Return - Foreign |
6.63% |
6.76% |
7.02% |
7.06% |
6.99% |
|
Compensation Rate - Domestic |
3.25% |
3.50% |
4.00% |
3.75% |
3.75% |
|
Compensation Rate - Foreign |
3.00% |
2.56% |
2.98% |
2.54% |
2.46% |
|
Total Plan Interest Cost |
63.6 |
60.8 |
67.2 |
65.4 |
56.6 |
|
Total Plan Service Cost |
15.0 |
14.4 |
17.5 |
24.6 |
25.6 |
|
Total Plan Expected Return |
-65.7 |
-65.2 |
-76.4 |
-76.9 |
-61.7 |
|
Total Plan Other Expense |
10.4 |
7.4 |
6.9 |
12.3 |
16.1 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Short Term Investments |
- |
- |
- |
0.6 |
0.6 |
|
Cash and Short Term Investments |
131.3 |
80.1 |
178.5 |
152.1 |
115.1 |
|
Accounts Receivable -
Trade, Gross |
458.1 |
454.5 |
412.1 |
412.2 |
369.9 |
|
Provision for Doubtful
Accounts |
-6.3 |
-10.3 |
-11.2 |
-11.7 |
-12.7 |
|
Trade Accounts Receivable - Net |
451.8 |
444.3 |
401.0 |
400.5 |
357.2 |
|
Other Receivables |
- |
- |
- |
50.1 |
48.1 |
|
Total Receivables, Net |
451.8 |
444.3 |
401.0 |
450.6 |
405.3 |
|
Inventories - Finished Goods |
255.3 |
206.8 |
233.3 |
235.6 |
220.2 |
|
Inventories - Work In Progress |
6.2 |
9.2 |
11.0 |
10.7 |
12.7 |
|
Inventories - Raw Materials |
270.2 |
229.0 |
235.3 |
237.9 |
213.7 |
|
Total Inventory |
531.7 |
445.0 |
479.6 |
484.2 |
446.6 |
|
Prepaid Expenses |
136.2 |
103.7 |
90.7 |
44.6 |
23.3 |
|
Deferred Income Tax - Current Asset |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Other Current Assets, Total |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Total Current Assets |
1,325.2 |
1,128.1 |
1,202.4 |
1,156.1 |
1,079.8 |
|
|
|
|
|
|
|
|
Buildings |
286.8 |
272.0 |
234.7 |
242.2 |
225.2 |
|
Land/Improvements |
26.5 |
28.2 |
25.5 |
28.0 |
24.9 |
|
Machinery/Equipment |
926.8 |
913.1 |
854.8 |
855.8 |
760.3 |
|
Construction in
Progress |
104.9 |
52.6 |
56.9 |
39.1 |
64.4 |
|
Property/Plant/Equipment - Gross |
1,344.9 |
1,265.9 |
1,171.9 |
1,165.1 |
1,074.8 |
|
Accumulated Depreciation |
-806.8 |
-764.6 |
-675.1 |
-656.3 |
-579.6 |
|
Property/Plant/Equipment - Net |
538.1 |
501.3 |
496.9 |
508.8 |
495.1 |
|
Goodwill, Net |
665.6 |
665.6 |
665.6 |
665.6 |
665.6 |
|
Intangibles - Gross |
165.4 |
165.4 |
165.4 |
165.4 |
165.4 |
|
Accumulated Intangible Amortization |
-116.6 |
-110.5 |
-104.3 |
-98.2 |
-85.3 |
|
Intangibles, Net |
48.8 |
54.9 |
61.1 |
67.3 |
80.1 |
|
Pension Benefits - Overfunded |
- |
- |
- |
- |
33.9 |
|
Deferred Income Tax - Long Term Asset |
122.8 |
129.7 |
131.7 |
109.1 |
82.4 |
|
Other Long Term Assets |
171.9 |
165.2 |
192.3 |
219.5 |
42.0 |
|
Other Long Term Assets, Total |
294.7 |
294.9 |
324.0 |
328.6 |
158.3 |
|
Total Assets |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
200.2 |
161.0 |
115.0 |
131.0 |
111.7 |
|
Accrued Expenses |
132.7 |
88.1 |
98.8 |
138.3 |
83.0 |
|
Notes Payable/Short Term Debt |
133.9 |
76.8 |
102.0 |
152.5 |
15.9 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
- |
0.0 |
|
Dividends Payable |
21.7 |
19.8 |
19.7 |
18.6 |
18.8 |
|
Income Taxes Payable |
- |
- |
- |
- |
45.3 |
|
Deferred Income Tax - Current Liability |
- |
- |
1.8 |
4.5 |
- |
|
Other Current Liabilities |
172.5 |
138.7 |
113.8 |
98.5 |
172.2 |
|
Other Current liabilities, Total |
194.2 |
158.5 |
135.2 |
121.7 |
236.2 |
|
Total Current Liabilities |
661.0 |
484.5 |
451.0 |
543.4 |
446.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Debt |
921.6 |
1,011.5 |
1,255.7 |
1,212.6 |
807.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.7 |
2.9 |
7.5 |
- |
- |
|
Pension Benefits - Underfunded |
222.0 |
241.0 |
276.2 |
172.0 |
170.7 |
|
Other Long Term Liabilities |
198.7 |
212.7 |
288.3 |
333.5 |
164.8 |
|
Other Liabilities, Total |
420.7 |
453.7 |
564.6 |
505.5 |
335.5 |
|
Total Liabilities |
1,873.0 |
1,875.8 |
2,176.8 |
2,109.1 |
1,573.7 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Additional Paid-In Capital |
123.8 |
110.4 |
106.1 |
55.0 |
96.6 |
|
Retained Earnings (Accumulated Deficit) |
2,519.7 |
2,339.2 |
2,222.6 |
2,078.9 |
1,909.6 |
|
Treasury Stock - Common |
-1,383.2 |
-1,424.1 |
-1,445.0 |
-1,386.9 |
-918.7 |
|
Translation Adjustment |
-74.8 |
-68.6 |
-149.8 |
-33.0 |
-31.9 |
|
Minimum Pension Liability Adjustment |
-196.3 |
-199.6 |
-171.4 |
-109.5 |
-162.6 |
|
Other Comprehensive Income |
-4.2 |
-2.7 |
-3.8 |
-1.8 |
-2.5 |
|
Other Equity, Total |
-275.4 |
-271.0 |
-325.1 |
-144.3 |
-196.9 |
|
Total Equity |
999.4 |
769.0 |
573.1 |
617.2 |
905.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Total Common Shares Outstanding |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Treasury Shares - Common Stock Primary Issue |
35.6 |
36.6 |
37.1 |
34.8 |
26.3 |
|
Employees |
5,514 |
5,377 |
5,300 |
5,300 |
5,087 |
|
Number of Common Shareholders |
2,740 |
3,004 |
3,167 |
3,248 |
3,393 |
|
Accumulated Intangible Amort, Suppl. |
116.6 |
110.5 |
104.3 |
98.2 |
85.3 |
|
Total Long Term Debt, Supplemental |
909.0 |
997.0 |
1,238.0 |
1,213.0 |
807.0 |
|
Long Term Debt Maturing within 1 Year |
134.0 |
77.0 |
102.0 |
153.0 |
16.0 |
|
Long Term Debt Maturing in Year 2 |
50.0 |
120.0 |
270.0 |
25.0 |
81.5 |
|
Long Term Debt Maturing in Year 3 |
100.0 |
75.0 |
141.0 |
25.0 |
81.5 |
|
Long Term Debt Maturing in Year 4 |
- |
100.0 |
100.0 |
138.0 |
201.5 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
138.0 |
201.5 |
|
Long Term Debt Maturing in 2-3 Years |
150.0 |
195.0 |
411.0 |
50.0 |
163.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
100.0 |
100.0 |
276.0 |
403.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
625.0 |
625.0 |
625.0 |
734.0 |
225.0 |
|
Total Operating Leases, Supplemental |
124.0 |
296.0 |
286.0 |
293.0 |
303.0 |
|
Operating Lease Payments Due in Year 1 |
25.0 |
28.0 |
26.0 |
24.0 |
23.0 |
|
Operating Lease Payments Due in Year 2 |
23.0 |
25.0 |
24.0 |
21.0 |
20.0 |
|
Operating Lease Payments Due in Year 3 |
21.0 |
22.0 |
21.0 |
20.0 |
19.0 |
|
Operating Lease Payments Due in Year 4 |
19.0 |
20.0 |
19.0 |
18.0 |
16.0 |
|
Operating Lease Payments Due in Year 5 |
18.0 |
17.0 |
17.0 |
16.0 |
16.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
44.0 |
47.0 |
45.0 |
41.0 |
39.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
37.0 |
37.0 |
36.0 |
34.0 |
32.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
18.0 |
184.0 |
179.0 |
194.0 |
209.0 |
|
Pension Obligation - Domestic |
440.6 |
0.4 |
404.9 |
395.0 |
378.7 |
|
Pension Obligation - Foreign |
625.1 |
0.6 |
499.0 |
661.4 |
681.0 |
|
Post-Retirement Obligation |
108.7 |
0.1 |
106.2 |
102.9 |
104.5 |
|
Plan Assets - Domestic |
347.1 |
0.3 |
248.2 |
349.2 |
336.1 |
|
Plan Assets - Foreign |
671.6 |
0.7 |
574.9 |
756.0 |
694.3 |
|
Funded Status - Domestic |
-93.6 |
-0.1 |
-156.8 |
-45.7 |
-42.6 |
|
Funded Status - Foreign |
46.5 |
0.0 |
75.9 |
94.7 |
13.3 |
|
Funded Status - Post-Retirement |
-108.7 |
-0.1 |
-106.2 |
-102.9 |
-104.5 |
|
Accumulated Obligation - Domestic |
435.1 |
0.4 |
393.3 |
374.7 |
361.7 |
|
Accumulated Obligation - Foreign |
598.0 |
0.6 |
475.2 |
628.7 |
646.8 |
|
Accumulated Obligation - Post-Retirement |
- |
- |
- |
102.9 |
104.5 |
|
Total Funded Status |
-155.8 |
-0.2 |
-187.0 |
-54.0 |
-133.8 |
|
Discount Rate - Domestic |
5.60% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Discount Rate - Foreign |
5.37% |
5.66% |
6.11% |
5.78% |
4.95% |
|
Discount Rate - Post-Retirement |
5.50% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Compensation Rate - Domestic |
3.25% |
3.25% |
3.50% |
4.00% |
3.75% |
|
Compensation Rate - Foreign |
2.66% |
3.00% |
2.56% |
2.98% |
2.54% |
|
Prepaid Benefits - Foreign |
66.3 |
61.9 |
98.8 |
111.4 |
33.9 |
|
Accrued Liabilities - Domestic |
-93.6 |
-102.0 |
-156.8 |
-45.7 |
-42.6 |
|
Accrued Liabilities - Foreign |
-19.8 |
-23.0 |
-22.9 |
-16.7 |
-20.5 |
|
Accrued Liabilities - Post-Retirement |
- |
- |
- |
- |
-104.5 |
|
Other Assets, Net - Domestic |
132.0 |
128.5 |
156.8 |
44.7 |
60.4 |
|
Other Assets, Net - Foreign |
155.3 |
160.9 |
98.7 |
98.8 |
156.2 |
|
Other Assets, Net - Post-Retirement |
1.1 |
4.3 |
1.1 |
17.0 |
22.7 |
|
Net Assets Recognized on Balance Sheet |
241.3 |
230.6 |
175.7 |
209.4 |
105.5 |
|
Equity % - Domestic |
64.00% |
60.00% |
70.00% |
76.00% |
74.00% |
|
Equity % - Foreign |
31.00% |
30.00% |
25.00% |
34.00% |
39.00% |
|
Debt Securities % - Domestic |
36.00% |
40.00% |
7.00% |
7.00% |
12.00% |
|
Debt Securities % - Foreign |
54.00% |
56.00% |
57.00% |
41.00% |
36.00% |
|
Real Estate % - Foreign |
11.00% |
12.00% |
14.00% |
13.00% |
11.00% |
|
Other Investments % - Domestic |
- |
- |
23.00% |
17.00% |
14.00% |
|
Other Investments % - Foreign |
4.00% |
2.00% |
4.00% |
12.00% |
14.00% |
|
Total Plan Obligations |
1,174.4 |
1.1 |
1,010.1 |
1,159.3 |
1,164.1 |
|
Total Plan Assets |
1,018.6 |
1.0 |
823.0 |
1,105.3 |
1,030.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Depreciation |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Depreciation/Depletion |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Deferred Taxes |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Unusual Items |
-3.7 |
-2.3 |
-2.2 |
-7.8 |
-22.8 |
|
Other Non-Cash Items |
22.0 |
19.7 |
17.2 |
18.2 |
18.2 |
|
Non-Cash Items |
18.3 |
17.3 |
15.1 |
10.3 |
-4.7 |
|
Accounts Receivable |
-12.1 |
-27.4 |
-39.9 |
-33.0 |
-27.2 |
|
Inventories |
-86.3 |
47.1 |
-19.7 |
-12.4 |
9.5 |
|
Other Assets |
-53.9 |
-85.8 |
-25.0 |
-2.1 |
-20.4 |
|
Accounts Payable |
116.8 |
56.7 |
-30.6 |
22.3 |
38.1 |
|
Other Liabilities |
2.8 |
27.0 |
7.8 |
5.3 |
-17.6 |
|
Changes in Working Capital |
-32.7 |
17.6 |
-107.3 |
-19.8 |
-17.5 |
|
Cash from Operating Activities |
315.1 |
291.6 |
220.6 |
314.1 |
281.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Capital Expenditures |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Sale of Fixed Assets |
1.7 |
1.8 |
2.8 |
17.0 |
27.2 |
|
Sale/Maturity of Investment |
- |
0.0 |
0.0 |
10.5 |
0.0 |
|
Investment, Net |
1.7 |
-13.6 |
0.0 |
0.0 |
- |
|
Purchase of Investments |
-3.9 |
-2.2 |
-7.2 |
-13.2 |
-17.4 |
|
Other Investing Cash Flow Items, Total |
-0.5 |
-14.1 |
-4.4 |
14.3 |
9.9 |
|
Cash from Investing Activities |
-106.8 |
-80.9 |
-89.7 |
-51.4 |
-48.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Financing Cash Flow Items |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Cash Dividends Paid - Common |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Total Cash Dividends Paid |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Sale/Issuance of
Common |
26.2 |
7.0 |
7.4 |
50.1 |
110.9 |
|
Repurchase/Retirement
of Common |
0.0 |
-2.0 |
-30.0 |
-577.0 |
-271.0 |
|
Common Stock, Net |
26.2 |
5.0 |
-22.6 |
-526.9 |
-160.1 |
|
Issuance (Retirement) of Stock, Net |
26.2 |
5.0 |
-22.6 |
-526.9 |
-160.1 |
|
Short Term Debt, Net |
-103.2 |
-37.3 |
2.9 |
-129.6 |
-48.7 |
|
Long Term Debt Issued |
0.0 |
0.0 |
139.2 |
498.6 |
373.6 |
|
Long Term Debt, Net |
0.0 |
-201.1 |
-0.2 |
498.6 |
-125.7 |
|
Issuance (Retirement) of Debt, Net |
-103.2 |
-238.4 |
2.7 |
368.9 |
-174.4 |
|
Cash from Financing Activities |
-156.7 |
-312.2 |
-94.7 |
-228.0 |
-397.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.4 |
3.1 |
-9.2 |
2.3 |
6.0 |
|
Net Change in Cash |
51.2 |
-98.3 |
27.0 |
37.0 |
-158.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
80.1 |
178.5 |
151.5 |
114.5 |
272.5 |
|
Net Cash - Ending Balance |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Cash Interest Paid |
54.1 |
70.8 |
87.3 |
36.0 |
31.7 |
|
Cash Taxes Paid |
70.8 |
58.1 |
50.3 |
60.4 |
79.4 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
Total Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
|
Research and development |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Selling and administrative |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
|
Restructuring and other charges |
10.1 |
18.3 |
18.2 |
0.0 |
2.7 |
|
Amortization |
- |
- |
- |
12.9 |
14.8 |
|
Curtailment loss |
- |
- |
- |
5.9 |
0.0 |
|
Interest Expense |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Foreign Exchange Loss (Gain) |
- |
- |
- |
- |
7.0 |
|
Other (income) expense, net |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
|
Total Operating Expense |
2,263.3 |
2,049.6 |
2,105.5 |
1,945.8 |
1,782.1 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Net Income After Taxes |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
79.5 |
78.4 |
79.0 |
86.5 |
90.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Basic EPS Including ExtraOrdinary Item |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Diluted Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Diluted Weighted Average Shares |
80.4 |
79.1 |
79.7 |
87.5 |
91.4 |
|
Diluted EPS Excluding ExtraOrd Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
Diluted EPS Including ExtraOrd Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
DPS-Common Stock |
1.04 |
1.00 |
0.96 |
0.88 |
0.77 |
|
Gross Dividends - Common Stock |
83.1 |
79.0 |
75.9 |
76.5 |
69.0 |
|
Normalized Income Before Taxes |
369.7 |
301.2 |
302.1 |
336.8 |
316.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.1 |
- |
- |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
97.2 |
88.2 |
57.8 |
85.2 |
87.5 |
|
Normalized Income After Taxes |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.43 |
2.72 |
3.09 |
2.91 |
2.53 |
|
Diluted Normalized EPS |
3.39 |
2.69 |
3.07 |
2.87 |
2.50 |
|
Research & Development Exp |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Interest Expense |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Amort of Intangibles |
6.0 |
6.0 |
6.0 |
12.9 |
14.8 |
|
Depreciation |
73.2 |
72.5 |
70.0 |
69.9 |
74.9 |
|
Rental Expense |
29.0 |
30.0 |
28.0 |
27.0 |
25.0 |
|
Current Tax - Federal |
5.4 |
3.8 |
-8.4 |
9.3 |
2.9 |
|
Current Tax - State |
0.5 |
0.4 |
-0.1 |
-1.4 |
4.2 |
|
Current Tax - Foreign |
103.5 |
94.1 |
55.5 |
82.1 |
92.1 |
|
Current Tax - Total |
109.3 |
98.4 |
47.0 |
90.0 |
99.2 |
|
Deferred Tax - Federal |
-21.9 |
-13.8 |
1.6 |
-13.6 |
-10.1 |
|
Deferred Tax - State |
2.3 |
6.8 |
-1.8 |
-1.0 |
-0.7 |
|
Deferred Tax - Foreign |
6.3 |
-10.4 |
7.4 |
8.4 |
-1.6 |
|
Deferred Tax - Total |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Income Tax - Total |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Service Cost - U.S. |
3.8 |
4.1 |
4.6 |
10.3 |
9.9 |
|
Interest Cost - U.S. |
24.2 |
23.7 |
23.9 |
24.0 |
21.7 |
|
Expected Return on Assets - U.S. |
-24.1 |
-24.6 |
-25.1 |
-24.3 |
-21.9 |
|
Net, Amortization and Deferrals- U.S. |
7.4 |
6.4 |
4.6 |
6.6 |
7.4 |
|
Settlement and Curtailment-U.S |
0.0 |
0.0 |
0.0 |
5.9 |
0.0 |
|
Domestic Pension Plan Expense |
11.3 |
9.6 |
8.0 |
22.5 |
17.2 |
|
Service Cost - Non-U.S. |
9.8 |
8.7 |
10.3 |
11.6 |
12.7 |
|
Interest Cost - Non-U.S. |
33.0 |
31.0 |
36.3 |
35.6 |
29.4 |
|
Expected Return on Assets - Non-U.S. |
-41.6 |
-40.6 |
-51.3 |
-52.6 |
-39.8 |
|
Net, Amortization and Deferrals-Non U.S. |
5.2 |
3.0 |
3.0 |
6.1 |
8.8 |
|
Special Termination Benefits - Non-U.S. |
- |
- |
- |
- |
0.0 |
|
Curtailments & Settlements - Non-U.S. |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Foreign Pension Plan Expense |
6.6 |
2.5 |
-1.7 |
0.7 |
11.1 |
|
Service Cost - Post-Retirement |
1.4 |
1.6 |
2.7 |
2.6 |
2.9 |
|
Interest Cost - Post-Retirement |
6.5 |
6.2 |
7.1 |
5.9 |
5.5 |
|
Net Amortization and Deferrals |
-2.2 |
-2.0 |
-0.7 |
-0.3 |
-0.1 |
|
Post-Retirement Plan Expense |
5.6 |
5.8 |
9.1 |
8.2 |
8.3 |
|
Defined Contribution Plans - U.S. |
7.2 |
6.3 |
6.2 |
4.9 |
3.5 |
|
Defined Contribution Plans - Non-U.S. |
4.5 |
4.1 |
4.4 |
4.1 |
3.5 |
|
Total Pension Expense |
35.1 |
28.3 |
25.9 |
40.4 |
43.6 |
|
Discount Rate - U.S. |
6.10% |
6.00% |
6.10% |
6.00% |
5.75% |
|
Expected Rate of Return - U.S. |
8.25% |
8.25% |
8.25% |
8.25% |
8.25% |
|
Compensation Rate - U.S. |
3.25% |
3.50% |
4.00% |
3.75% |
3.75% |
|
Discount Rate - Non-U.S. |
5.66% |
6.11% |
5.78% |
4.95% |
4.57% |
|
Expected Rate of Return - Non-U.S. |
6.63% |
6.76% |
7.02% |
7.06% |
6.99% |
|
Compensation Rate - Non-U.S. |
3.00% |
2.56% |
2.98% |
2.54% |
2.46% |
|
Discount Rate - Post-Retirement |
6.10% |
6.00% |
- |
6.00% |
5.75% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
ST Investments |
- |
- |
- |
0.6 |
0.6 |
|
Trade Rcvbl. |
458.1 |
454.5 |
412.1 |
412.2 |
369.9 |
|
Allow. for Rcvbl |
-6.3 |
-10.3 |
-11.2 |
-11.7 |
-12.7 |
|
Other Rcvbl. |
- |
- |
- |
50.1 |
48.1 |
|
Raw Materials |
270.2 |
229.0 |
235.3 |
237.9 |
213.7 |
|
Work in Process |
6.2 |
9.2 |
11.0 |
10.7 |
12.7 |
|
Finished Goods |
255.3 |
206.8 |
233.3 |
235.6 |
220.2 |
|
Deferred income taxes |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Prepaid expenses and other current asset |
136.2 |
103.7 |
90.7 |
44.6 |
23.3 |
|
Total Current Assets |
1,325.2 |
1,128.1 |
1,202.4 |
1,156.1 |
1,079.8 |
|
|
|
|
|
|
|
|
Land |
26.5 |
28.2 |
25.5 |
28.0 |
24.9 |
|
Building |
286.8 |
272.0 |
234.7 |
242.2 |
225.2 |
|
Machinery |
694.8 |
688.0 |
635.1 |
641.9 |
556.4 |
|
Hardware/Software |
231.9 |
225.1 |
219.7 |
213.9 |
203.9 |
|
Construction |
104.9 |
52.6 |
56.9 |
39.1 |
64.4 |
|
Depreciation |
-806.8 |
-764.6 |
-675.1 |
-656.3 |
-579.6 |
|
Goodwill |
665.6 |
665.6 |
665.6 |
665.6 |
665.6 |
|
Intangibles, Gross |
165.4 |
165.4 |
165.4 |
165.4 |
165.4 |
|
Accumulated Intangible Amortization |
-116.6 |
-110.5 |
-104.3 |
-98.2 |
-85.3 |
|
Other Assets |
171.9 |
165.2 |
192.3 |
219.5 |
42.0 |
|
Pension assets |
- |
- |
- |
- |
33.9 |
|
Deferred income taxes |
122.8 |
129.7 |
131.7 |
109.1 |
82.4 |
|
Total Assets |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Current Portion of Long-term Debt |
- |
- |
- |
- |
0.0 |
|
Bank Borrowings overdrafts current |
133.9 |
76.8 |
102.0 |
152.5 |
- |
|
Bank Loans |
- |
- |
- |
- |
15.9 |
|
Accts. Payable |
200.2 |
161.0 |
115.0 |
131.0 |
111.7 |
|
Accrd. Payroll |
95.1 |
49.0 |
40.5 |
64.3 |
72.0 |
|
Deferred income taxes |
- |
- |
1.8 |
4.5 |
- |
|
Divs. Payable |
21.7 |
19.8 |
19.7 |
18.6 |
18.8 |
|
Income Taxes |
- |
- |
- |
- |
45.3 |
|
Restructuring and Other |
4.0 |
18.9 |
14.8 |
2.7 |
15.3 |
|
Workers compensation and general liabili |
20.1 |
21.1 |
22.4 |
28.9 |
- |
|
Interest payable |
17.6 |
18.0 |
21.6 |
19.8 |
11.1 |
|
Current pension and other retiree accrua |
- |
- |
7.0 |
15.5 |
- |
|
Rebates and incentives |
- |
- |
5.5 |
11.8 |
- |
|
Commissions and professional fees payabl |
- |
- |
7.5 |
9.8 |
- |
|
Other current liabilities |
168.5 |
119.8 |
93.5 |
84.0 |
156.9 |
|
Total Current Liabilities |
661.0 |
484.5 |
451.0 |
543.4 |
446.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
|
|
|
|
|
|
|
Deferred Gain |
50.9 |
54.9 |
58.6 |
61.7 |
64.7 |
|
Retirement Liab. |
222.0 |
241.0 |
276.2 |
172.0 |
170.7 |
|
Noncontrolling interest |
3.7 |
2.9 |
7.5 |
- |
- |
|
Non-current liabilities |
147.8 |
157.8 |
229.7 |
271.9 |
100.1 |
|
Total Liabilities |
1,873.0 |
1,875.8 |
2,176.8 |
2,109.1 |
1,573.7 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Paid in Capital |
123.8 |
110.4 |
106.1 |
55.0 |
96.6 |
|
Retained Erngs. |
2,519.7 |
2,339.2 |
2,222.6 |
2,078.9 |
1,909.6 |
|
Cum. Trans. Adj. |
-74.8 |
-68.6 |
-149.8 |
-33.0 |
-31.9 |
|
Accumulated losses on derivatives qualif |
-4.2 |
-2.7 |
-3.8 |
-1.8 |
-2.5 |
|
Pension and postretirement liability adj |
-196.3 |
-199.6 |
-171.4 |
-109.5 |
-162.6 |
|
Pension |
- |
- |
- |
- |
0.0 |
|
Treasury Stock |
-1,383.2 |
-1,424.1 |
-1,445.0 |
-1,386.9 |
-918.7 |
|
Total Equity |
999.4 |
769.0 |
573.1 |
617.2 |
905.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Total Common Shares Outstanding |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
T/S-Common Stock |
35.6 |
36.6 |
37.1 |
34.8 |
26.3 |
|
Accumulated Intangible Amortization |
116.6 |
110.5 |
104.3 |
98.2 |
85.3 |
|
Full-Time Employees |
5,514 |
5,377 |
5,300 |
5,300 |
5,087 |
|
Number of Common Shareholders |
2,740 |
3,004 |
3,167 |
3,248 |
3,393 |
|
Long Term Debt Due Within 1 Year |
134.0 |
77.0 |
102.0 |
153.0 |
16.0 |
|
Long Term Debt Due Within 2 Years |
50.0 |
120.0 |
270.0 |
- |
- |
|
Long Term Debt Due Within 3 Years |
100.0 |
75.0 |
141.0 |
50.0 |
163.0 |
|
Long Term Debt Due Within 4 Years |
- |
100.0 |
100.0 |
- |
- |
|
Long Term Debt Due Within 5 Years |
- |
- |
- |
276.0 |
403.0 |
|
Long Term Debt Due After 5 Years |
625.0 |
625.0 |
625.0 |
734.0 |
225.0 |
|
Total Long Term Debt, Supplemental |
909.0 |
997.0 |
1,238.0 |
1,213.0 |
807.0 |
|
Operating Leases Due Within 1 Year |
25.0 |
28.0 |
26.0 |
24.0 |
23.0 |
|
Operating Leases Due Within 2 Years |
23.0 |
25.0 |
24.0 |
21.0 |
20.0 |
|
Operating Leases Due Within 3 Years |
21.0 |
22.0 |
21.0 |
20.0 |
19.0 |
|
Operating Leases Due Within 4 Years |
19.0 |
20.0 |
19.0 |
18.0 |
16.0 |
|
Operating Leases Due Within 5 Years |
18.0 |
17.0 |
17.0 |
16.0 |
16.0 |
|
Operating Leases Due After 5 Years |
18.0 |
184.0 |
179.0 |
194.0 |
209.0 |
|
Total Operating Leases |
124.0 |
296.0 |
286.0 |
293.0 |
303.0 |
|
Projected Benefit Obligation - U.S. |
440.6 |
0.4 |
404.9 |
395.0 |
378.7 |
|
FV of Plan Assets - U.S. |
347.1 |
0.3 |
248.2 |
349.2 |
336.1 |
|
Funded Status - U.S. |
-93.6 |
-0.1 |
-156.8 |
-45.7 |
-42.6 |
|
Projected Benefit Obligation - Non-U.S. |
625.1 |
0.6 |
499.0 |
661.4 |
681.0 |
|
FV of Plan Assets - Non-U.S. |
671.6 |
0.7 |
574.9 |
756.0 |
694.3 |
|
Funded Status - Non-U.S. |
46.5 |
0.0 |
75.9 |
94.7 |
13.3 |
|
Projected Benefit Obligation - Post-Ret. |
108.7 |
0.1 |
106.2 |
102.9 |
104.5 |
|
Funded Status - Post-Retirement |
-108.7 |
-0.1 |
-106.2 |
-102.9 |
-104.5 |
|
Accumulated Benefit Obligation - Post-Re |
- |
- |
- |
102.9 |
104.5 |
|
Accumulated Benefit Obligation - U.S. |
435.1 |
0.4 |
393.3 |
374.7 |
361.7 |
|
Accumulated Benefit Obligation -Non-U.S. |
598.0 |
0.6 |
475.2 |
628.7 |
646.8 |
|
Total Funded Status |
-155.8 |
-0.2 |
-187.0 |
-54.0 |
-133.8 |
|
Discount Rate - U.S. |
5.60% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Compensation Rate - U.S. |
3.25% |
3.25% |
3.50% |
4.00% |
3.75% |
|
Discount Rate - Non-U.S. |
5.37% |
5.66% |
6.11% |
5.78% |
4.95% |
|
Compensation Rate - Non-U.S. |
2.66% |
3.00% |
2.56% |
2.98% |
2.54% |
|
Discount Rate - Post-Retirement |
5.50% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Current Liabilities - U.S. |
-3.3 |
-3.2 |
-2.7 |
-2.6 |
-2.5 |
|
Non Current Liabilities - U.S. |
-90.3 |
-98.8 |
-154.0 |
-43.1 |
-40.1 |
|
Non Current Assets - Non-U.S. |
66.3 |
61.9 |
98.8 |
111.4 |
33.9 |
|
Current Liabilities - Non-U.S. |
-0.6 |
-0.6 |
-0.6 |
-0.7 |
-0.6 |
|
Non Current Liabilities - Non-U.S. |
-19.2 |
-22.3 |
-22.3 |
-16.1 |
-20.0 |
|
Current Liabilities - Post-Retirement |
- |
- |
- |
- |
-3.3 |
|
Non Current Liabilities - Post-Retir. |
- |
- |
- |
- |
-101.2 |
|
AOCI-Actuarial Loss - U.S. |
129.9 |
126.0 |
153.8 |
41.7 |
50.6 |
|
AOCI-Prior Service Cost - U.S. |
2.0 |
2.5 |
3.0 |
3.0 |
9.8 |
|
AOCI-Actuarial Loss - Non-U.S. |
155.3 |
160.7 |
98.2 |
97.4 |
154.3 |
|
AOCI-Prior Service Cost - Non-U.S. |
0.0 |
0.1 |
0.6 |
1.4 |
1.9 |
|
AOCI-Transition Obligation - Non-U.S. |
- |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
AOCI-Actuarial Loss - Post-Ret. |
30.2 |
38.1 |
39.7 |
38.0 |
46.3 |
|
AOCI-Prior Service Cost - Post-Ret. |
-29.2 |
-33.9 |
-38.6 |
-21.0 |
-23.7 |
|
Net Assets Recognized on Balance Sheet |
241.3 |
230.6 |
175.7 |
209.4 |
105.5 |
|
Equity Securities % - U.S. |
64.00% |
60.00% |
70.00% |
76.00% |
74.00% |
|
Bonds % - U.S. |
36.00% |
40.00% |
7.00% |
7.00% |
12.00% |
|
Other Cash & ST Investments % - U.S. |
- |
- |
23.00% |
17.00% |
14.00% |
|
Equity Securities % - Non-U.S. |
31.00% |
30.00% |
25.00% |
34.00% |
39.00% |
|
Bonds % - Non-U.S. |
54.00% |
56.00% |
57.00% |
41.00% |
36.00% |
|
Real Estate % - Non-U.S. |
11.00% |
12.00% |
14.00% |
13.00% |
11.00% |
|
Other Cash & ST Investments % - Non-U.S. |
4.00% |
2.00% |
4.00% |
12.00% |
14.00% |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Depreciation |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Deferred Taxes |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Dispose Assets |
-3.7 |
-2.3 |
-2.2 |
-13.8 |
-22.8 |
|
Equity Based Compensation |
22.0 |
19.7 |
17.2 |
18.2 |
18.2 |
|
Curtailment loss |
- |
0.0 |
0.0 |
5.9 |
0.0 |
|
Current Receivables |
-12.1 |
-27.4 |
-39.9 |
-33.0 |
-27.2 |
|
Inventories |
-86.3 |
47.1 |
-19.7 |
-12.4 |
9.5 |
|
Current Payables |
116.8 |
56.7 |
-30.6 |
22.3 |
38.1 |
|
Changes in other assets |
-53.9 |
-85.8 |
-25.0 |
-2.1 |
-20.4 |
|
Changes in other liabilities |
2.8 |
27.0 |
7.8 |
5.3 |
-17.6 |
|
Cash from Operating Activities |
315.1 |
291.6 |
220.6 |
314.1 |
281.6 |
|
|
|
|
|
|
|
|
Proceeds from investments |
- |
0.0 |
0.0 |
10.5 |
0.0 |
|
Disposal of Assets |
1.7 |
1.8 |
2.8 |
17.0 |
27.2 |
|
Termination of net investment hedge |
1.7 |
-13.6 |
0.0 |
0.0 |
- |
|
Purch., ST Invest. |
-3.9 |
-2.2 |
-7.2 |
-13.2 |
-17.4 |
|
Capital Expenditure |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Cash from Investing Activities |
-106.8 |
-80.9 |
-89.7 |
-51.4 |
-48.4 |
|
|
|
|
|
|
|
|
Dividends Paid |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Bank Loans |
-103.2 |
-37.3 |
2.9 |
-129.6 |
-48.7 |
|
LT Debt., Net |
0.0 |
-201.1 |
-139.4 |
0.0 |
-499.3 |
|
Proceeds from issuance of stock under st |
26.2 |
7.0 |
7.4 |
50.1 |
110.9 |
|
Net proceeds from long-term debt |
0.0 |
0.0 |
139.2 |
498.6 |
373.6 |
|
Excess tax benefits on share-based payme |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Comm. Paper |
- |
- |
- |
- |
0.0 |
|
Treasury Stock |
0.0 |
-2.0 |
-30.0 |
-577.0 |
-271.0 |
|
Cash from Financing Activities |
-156.7 |
-312.2 |
-94.7 |
-228.0 |
-397.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.4 |
3.1 |
-9.2 |
2.3 |
6.0 |
|
Net Change in Cash |
51.2 |
-98.3 |
27.0 |
37.0 |
-158.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
80.1 |
178.5 |
151.5 |
114.5 |
272.5 |
|
Net Cash - Ending Balance |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Cash Interest Paid |
54.1 |
70.8 |
87.3 |
36.0 |
31.7 |
|
Cash Taxes Paid |
70.8 |
58.1 |
50.3 |
60.4 |
79.4 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Ratio Comparisons
|
Traded: New York Stock
Exchange: IFF |
Financials in:
USD (actual units) |
|
Industry: Chemical
Manufacturing |
As of
11-Nov-2011 |
|
Sector: Basic Materials |
|
|
|
Company |
Industry |
Sector |
S&P 500 |
|
Valuation Ratios |
||||
|
P/E Excluding Extraordinary (TTM) |
14.86 |
23.47 |
24.91 |
19.68 |
|
P/E High Excluding Extraordinary - Last 5 Yrs |
19.83 |
29.37 |
40.00 |
32.79 |
|
P/E Low Excluding Extraordinary - Last 5 Yrs |
10.32 |
11.37 |
8.69 |
10.71 |
|
Beta |
0.88 |
1.21 |
1.47 |
1.00 |
|
Price/Revenue (TTM) |
1.59 |
2.41 |
2.38 |
2.57 |
|
Price/Book (MRQ) |
3.68 |
4.13 |
3.90 |
3.67 |
|
Price to Tangible Book (MRQ) |
9.07 |
7.79 |
5.81 |
5.21 |
|
Price to Cash Flow Per Share (TTM) |
11.80 |
14.85 |
13.98 |
14.22 |
|
Price to Free Cash Flow Per Share (TTM) |
471.62 |
40.81 |
37.21 |
26.26 |
|
|
|
|
|
|
|
Dividends |
||||
|
Dividend Yield |
2.28% |
1.82% |
1.75% |
2.26% |
|
Dividend Per Share - 5 Yr Avg |
0.93 |
2.13 |
2.50 |
1.99 |
|
Dividend 5 Yr Growth |
7.34% |
10.42% |
1.06% |
0.08% |
|
Payout Ratio (TTM) |
30.29% |
31.59% |
29.68% |
25.98% |
|
|
|
|
|
|
|
Growth Rates (%) |
||||
|
Revenue (MRQ) vs Qtr 1 Yr Ago |
6.01% |
20.41% |
20.15% |
15.58% |
|
Revenue (TTM) vs TTM 1 Yr Ago |
7.56% |
15.77% |
23.47% |
17.69% |
|
Revenue 5 Yr Growth |
5.64% |
6.26% |
7.38% |
8.97% |
|
EPS (MRQ) vs Qtr 1 Yr Ago |
5.02% |
2.09% |
13.63% |
19.49% |
|
EPS (TTM) vs TTM 1 Yr Ago |
14.84% |
12.44% |
42.74% |
32.55% |
|
EPS 5 Yr Growth |
9.98% |
19.42% |
8.05% |
9.86% |
|
Capital Spending 5 Yr Growth |
2.61% |
11.74% |
9.93% |
-2.04% |
|
|
|
|
|
|
|
Financial Strength |
||||
|
Quick Ratio (MRQ) |
1.48 |
1.35 |
1.78 |
1.24 |
|
Current Ratio (MRQ) |
2.40 |
2.18 |
2.73 |
1.79 |
|
LT Debt/Equity (MRQ) |
0.63 |
0.76 |
0.81 |
0.64 |
|
Total Debt/Equity (MRQ) |
0.76 |
0.82 |
0.88 |
0.73 |
|
Interest Coverage (TTM) |
9.84 |
13.67 |
11.21 |
13.80 |
|
|
|
|
|
|
|
Profitability Ratios (%) |
||||
|
Gross Margin (TTM) |
40.12% |
33.98% |
32.32% |
45.21% |
|
Gross Margin - 5 Yr Avg |
41.28% |
32.62% |
31.54% |
44.91% |
|
EBITD Margin (TTM) |
18.92% |
19.75% |
22.23% |
24.43% |
|
EBITD Margin - 5 Yr Avg |
19.03% |
17.18% |
18.43% |
22.84% |
|
Operating Margin (TTM) |
14.56% |
14.67% |
16.99% |
20.63% |
|
Operating Margin - 5 Yr Avg |
13.36% |
13.24% |
13.64% |
18.28% |
|
Pretax Margin (TTM) |
14.56% |
14.52% |
15.86% |
17.95% |
|
Pretax Margin - 5 Yr Avg |
13.36% |
12.15% |
12.57% |
17.10% |
|
Net Profit Margin (TTM) |
10.75% |
10.56% |
11.55% |
13.65% |
|
Net Profit Margin - 5 Yr Avg |
9.93% |
8.73% |
8.64% |
12.10% |
|
Effective Tax Rate (TTM) |
26.17% |
27.39% |
28.04% |
28.45% |
|
Effective Tax rate - 5 Yr Avg |
25.69% |
27.15% |
29.65% |
29.92% |
|
|
|
|
|
|
|
Management Effectiveness (%) |
||||
|
Return on Assets (TTM) |
10.23% |
8.26% |
8.05% |
8.54% |
|
Return on Assets - 5 Yr Avg |
8.70% |
7.52% |
7.49% |
8.40% |
|
Return on Investment (TTM) |
13.00% |
6.33% |
5.86% |
7.90% |
|
Return on Investment - 5 Yr Avg |
11.09% |
5.79% |
5.78% |
8.27% |
|
Return on Equity (TTM) |
27.10% |
22.07% |
18.78% |
19.72% |
|
Return on Equity - 5 Yr Avg |
30.41% |
19.44% |
17.45% |
20.06% |
|
|
|
|
|
|
|
Efficiency |
||||
|
Revenue/Employee (TTM) |
502,993.30 |
665,165.50 |
613,510.56 |
927,613.77 |
|
Net Income/Employee (TTM) |
54,053.32 |
84,229.57 |
82,492.56 |
116,121.92 |
|
Receivables Turnover (TTM) |
5.71 |
7.02 |
8.71 |
13.25 |
|
Inventory Turnover (TTM) |
3.11 |
8.06 |
8.16 |
14.53 |
|
Asset Turnover (TTM) |
0.95 |
0.80 |
0.82 |
0.93 |
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Stock report
Stock Snapshot
|
Traded: New York Stock
Exchange: IFF |
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|
As of 11-Nov-2011 US Dollars |
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Stock History
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
Total Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
|
Cost of Revenue, Total |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
|
Gross Profit |
1,092.6 |
934.2 |
970.9 |
952.2 |
884.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
|
Total Selling/General/Administrative Expenses |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
|
Research & Development |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Amortization of Intangibles |
- |
- |
- |
12.9 |
14.8 |
|
Depreciation/Amortization |
- |
- |
- |
12.9 |
14.8 |
|
Interest Expense -
Operating |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Interest Expense - Net Operating |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Investment Income -
Operating |
- |
- |
- |
- |
7.0 |
|
Interest/Investment Income - Operating |
- |
- |
- |
- |
7.0 |
|
Interest Expense (Income) - Net Operating Total |
48.7 |
61.8 |
74.0 |
41.5 |
32.5 |
|
Restructuring Charge |
10.1 |
18.3 |
18.2 |
0.0 |
2.7 |
|
Other Unusual Expense (Income) |
- |
- |
- |
5.9 |
0.0 |
|
Unusual Expense (Income) |
10.1 |
18.3 |
18.2 |
5.9 |
2.7 |
|
Other, Net |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
|
Other Operating Expenses, Total |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
|
Total Operating Expense |
2,263.3 |
2,049.6 |
2,105.5 |
1,945.8 |
1,782.1 |
|
|
|
|
|
|
|
|
Operating Income |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
|
|
|
|
|
|
|
|
Income Before Tax |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Income After Tax |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
79.5 |
78.4 |
79.0 |
86.5 |
90.4 |
|
Basic EPS Excl Extraord Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Basic/Primary EPS Incl Extraord Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Diluted Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Diluted Weighted Average Shares |
80.4 |
79.1 |
79.7 |
87.5 |
91.4 |
|
Diluted EPS Excl Extraord Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
Diluted EPS Incl Extraord Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
Dividends per Share - Common Stock Primary Issue |
1.04 |
1.00 |
0.96 |
0.88 |
0.77 |
|
Gross Dividends - Common Stock |
83.1 |
79.0 |
75.9 |
76.5 |
69.0 |
|
Interest Expense, Supplemental |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Depreciation, Supplemental |
73.2 |
72.5 |
70.0 |
69.9 |
74.9 |
|
Total Special Items |
10.1 |
24.6 |
18.2 |
5.9 |
2.7 |
|
Normalized Income Before Tax |
369.7 |
301.2 |
302.1 |
336.8 |
316.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.1 |
7.2 |
3.5 |
1.5 |
0.7 |
|
Inc Tax Ex Impact of Sp Items |
97.2 |
88.2 |
57.8 |
85.2 |
87.5 |
|
Normalized Income After Tax |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.43 |
2.72 |
3.09 |
2.91 |
2.53 |
|
Diluted Normalized EPS |
3.39 |
2.69 |
3.07 |
2.87 |
2.50 |
|
Amort of Intangibles, Supplemental |
6.0 |
6.0 |
6.0 |
12.9 |
14.8 |
|
Rental Expenses |
29.0 |
30.0 |
28.0 |
27.0 |
25.0 |
|
Research & Development Exp, Supplemental |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Normalized EBIT |
418.4 |
363.0 |
376.1 |
378.3 |
348.5 |
|
Normalized EBITDA |
497.6 |
441.5 |
452.1 |
461.1 |
438.2 |
|
Current Tax - Domestic |
5.4 |
3.8 |
-8.4 |
9.3 |
2.9 |
|
Current Tax - Foreign |
103.5 |
94.1 |
55.5 |
82.1 |
92.1 |
|
Current Tax - Local |
0.5 |
0.4 |
-0.1 |
-1.4 |
4.2 |
|
Current Tax - Total |
109.3 |
98.4 |
47.0 |
90.0 |
99.2 |
|
Deferred Tax - Domestic |
-21.9 |
-13.8 |
1.6 |
-13.6 |
-10.1 |
|
Deferred Tax - Foreign |
6.3 |
-10.4 |
7.4 |
8.4 |
-1.6 |
|
Deferred Tax - Local |
2.3 |
6.8 |
-1.8 |
-1.0 |
-0.7 |
|
Deferred Tax - Total |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Income Tax - Total |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Interest Cost - Domestic |
24.2 |
23.7 |
23.9 |
24.0 |
21.7 |
|
Service Cost - Domestic |
3.8 |
4.1 |
4.6 |
10.3 |
9.9 |
|
Expected Return on Assets - Domestic |
-24.1 |
-24.6 |
-25.1 |
-24.3 |
-21.9 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
0.0 |
5.9 |
0.0 |
|
Other Pension, Net - Domestic |
7.4 |
6.4 |
4.6 |
6.6 |
7.4 |
|
Domestic Pension Plan Expense |
11.3 |
9.6 |
8.0 |
22.5 |
17.2 |
|
Interest Cost - Foreign |
33.0 |
31.0 |
36.3 |
35.6 |
29.4 |
|
Service Cost - Foreign |
9.8 |
8.7 |
10.3 |
11.6 |
12.7 |
|
Expected Return on Assets - Foreign |
-41.6 |
-40.6 |
-51.3 |
-52.6 |
-39.8 |
|
Curtailments & Settlements - Foreign |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Other Pension, Net - Foreign |
5.2 |
3.0 |
3.0 |
6.1 |
8.8 |
|
Foreign Pension Plan Expense |
6.6 |
2.5 |
-1.7 |
0.7 |
11.1 |
|
Interest Cost - Post-Retirement |
6.5 |
6.2 |
7.1 |
5.9 |
5.5 |
|
Service Cost - Post-Retirement |
1.4 |
1.6 |
2.7 |
2.6 |
2.9 |
|
Other Post-Retirement, Net |
-2.2 |
-2.0 |
-0.7 |
-0.3 |
-0.1 |
|
Post-Retirement Plan Expense |
5.6 |
5.8 |
9.1 |
8.2 |
8.3 |
|
Defined Contribution Expense - Domestic |
7.2 |
6.3 |
6.2 |
4.9 |
3.5 |
|
Defined Contribution Expense - Foreign |
4.5 |
4.1 |
4.4 |
4.1 |
3.5 |
|
Total Pension Expense |
35.1 |
28.3 |
25.9 |
40.4 |
43.6 |
|
Discount Rate - Domestic |
6.10% |
6.00% |
6.10% |
6.00% |
5.75% |
|
Discount Rate - Foreign |
5.66% |
6.11% |
5.78% |
4.95% |
4.57% |
|
Discount Rate - Post-Retirement |
6.10% |
6.00% |
- |
6.00% |
5.75% |
|
Expected Rate of Return - Domestic |
8.25% |
8.25% |
8.25% |
8.25% |
8.25% |
|
Expected Rate of Return - Foreign |
6.63% |
6.76% |
7.02% |
7.06% |
6.99% |
|
Compensation Rate - Domestic |
3.25% |
3.50% |
4.00% |
3.75% |
3.75% |
|
Compensation Rate - Foreign |
3.00% |
2.56% |
2.98% |
2.54% |
2.46% |
|
Total Plan Interest Cost |
63.6 |
60.8 |
67.2 |
65.4 |
56.6 |
|
Total Plan Service Cost |
15.0 |
14.4 |
17.5 |
24.6 |
25.6 |
|
Total Plan Expected Return |
-65.7 |
-65.2 |
-76.4 |
-76.9 |
-61.7 |
|
Total Plan Other Expense |
10.4 |
7.4 |
6.9 |
12.3 |
16.1 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Sales |
713.8 |
715.6 |
714.3 |
629.9 |
673.3 |
|
Revenue |
713.8 |
715.6 |
714.3 |
629.9 |
673.3 |
|
Total Revenue |
713.8 |
715.6 |
714.3 |
629.9 |
673.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
435.4 |
431.2 |
416.8 |
377.5 |
388.2 |
|
Cost of Revenue, Total |
435.4 |
431.2 |
416.8 |
377.5 |
388.2 |
|
Gross Profit |
278.4 |
284.4 |
297.5 |
252.3 |
285.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
96.8 |
106.2 |
106.6 |
110.9 |
109.0 |
|
Total Selling/General/Administrative Expenses |
96.8 |
106.2 |
106.6 |
110.9 |
109.0 |
|
Research & Development |
53.6 |
56.2 |
57.5 |
57.1 |
53.2 |
|
Interest Expense -
Operating |
10.3 |
12.0 |
11.7 |
11.7 |
12.2 |
|
Interest Expense - Net Operating |
10.3 |
12.0 |
11.7 |
11.7 |
12.2 |
|
Interest Expense (Income) - Net Operating Total |
10.3 |
12.0 |
11.7 |
11.7 |
12.2 |
|
Restructuring Charge |
-0.6 |
4.0 |
0.0 |
0.9 |
2.4 |
|
Unusual Expense (Income) |
-0.6 |
4.0 |
0.0 |
0.9 |
2.4 |
|
Other, Net |
5.8 |
1.1 |
6.1 |
1.1 |
2.1 |
|
Other Operating Expenses, Total |
5.8 |
1.1 |
6.1 |
1.1 |
2.1 |
|
Total Operating Expense |
601.3 |
610.7 |
598.7 |
559.2 |
567.1 |
|
|
|
|
|
|
|
|
Operating Income |
112.5 |
104.9 |
115.6 |
70.7 |
106.2 |
|
|
|
|
|
|
|
|
Income Before Tax |
112.5 |
104.9 |
115.6 |
70.7 |
106.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
30.2 |
28.7 |
31.6 |
15.1 |
29.1 |
|
Income After Tax |
82.2 |
76.2 |
84.0 |
55.6 |
77.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.5 |
-0.4 |
-0.5 |
1.3 |
-0.5 |
|
Net Income Before Extraord Items |
81.7 |
75.8 |
83.5 |
56.9 |
76.5 |
|
Net Income |
81.7 |
75.8 |
83.5 |
56.9 |
76.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
81.7 |
75.8 |
83.5 |
56.9 |
76.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
81.7 |
75.8 |
83.5 |
56.9 |
76.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
80.6 |
80.5 |
80.0 |
79.8 |
79.4 |
|
Basic EPS Excl Extraord Items |
1.01 |
0.94 |
1.04 |
0.71 |
0.96 |
|
Basic/Primary EPS Incl Extraord Items |
1.01 |
0.94 |
1.04 |
0.71 |
0.96 |
|
Diluted Net Income |
81.7 |
75.8 |
83.5 |
56.9 |
76.5 |
|
Diluted Weighted Average Shares |
81.6 |
81.5 |
81.2 |
80.8 |
80.3 |
|
Diluted EPS Excl Extraord Items |
1.00 |
0.93 |
1.03 |
0.70 |
0.95 |
|
Diluted EPS Incl Extraord Items |
1.00 |
0.93 |
1.03 |
0.70 |
0.95 |
|
Dividends per Share - Common Stock Primary Issue |
0.31 |
0.27 |
0.27 |
0.27 |
0.27 |
|
Interest Expense, Supplemental |
10.3 |
12.0 |
11.7 |
11.7 |
12.2 |
|
Depreciation, Supplemental |
17.4 |
17.9 |
16.5 |
17.6 |
18.4 |
|
Total Special Items |
-0.6 |
4.0 |
0.0 |
0.9 |
2.4 |
|
Normalized Income Before Tax |
111.8 |
108.9 |
115.6 |
71.6 |
108.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.2 |
1.1 |
0.0 |
0.2 |
0.6 |
|
Inc Tax Ex Impact of Sp Items |
30.1 |
29.8 |
31.6 |
15.3 |
29.8 |
|
Normalized Income After Tax |
81.8 |
79.1 |
84.1 |
56.3 |
78.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
81.3 |
78.7 |
83.6 |
57.6 |
78.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.01 |
0.98 |
1.04 |
0.72 |
0.99 |
|
Diluted Normalized EPS |
1.00 |
0.97 |
1.03 |
0.71 |
0.97 |
|
Amort of Intangibles, Supplemental |
1.5 |
1.5 |
1.5 |
1.5 |
1.5 |
|
Research & Development Exp, Supplemental |
53.6 |
56.2 |
57.5 |
57.1 |
53.2 |
|
Reported Gross Profit |
- |
284.4 |
- |
- |
- |
|
Normalized EBIT |
122.1 |
120.9 |
127.3 |
83.3 |
120.8 |
|
Normalized EBITDA |
141.0 |
140.3 |
145.3 |
102.4 |
140.7 |
|
Interest Cost - Domestic |
6.3 |
6.0 |
6.0 |
6.0 |
6.2 |
|
Service Cost - Domestic |
1.0 |
0.9 |
0.9 |
0.9 |
1.0 |
|
Expected Return on Assets - Domestic |
-6.3 |
-6.3 |
-6.3 |
-6.0 |
-6.0 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.4 |
0.0 |
- |
0.0 |
|
Other Pension, Net - Domestic |
3.3 |
2.8 |
2.8 |
1.9 |
2.0 |
|
Domestic Pension Plan Expense |
4.2 |
3.9 |
3.4 |
2.8 |
3.1 |
|
Interest Cost - Foreign |
8.3 |
8.5 |
8.5 |
7.4 |
8.5 |
|
Service Cost - Foreign |
2.6 |
2.6 |
2.6 |
2.2 |
2.4 |
|
Expected Return on Assets - Foreign |
-11.1 |
-11.3 |
-11.3 |
-9.4 |
-10.7 |
|
Curtailments & Settlements - Foreign |
0.0 |
3.9 |
- |
0.1 |
0.1 |
|
Other Pension, Net - Foreign |
1.3 |
1.4 |
1.4 |
1.2 |
1.3 |
|
Foreign Pension Plan Expense |
1.0 |
5.0 |
1.1 |
1.4 |
1.7 |
|
Interest Cost - Post-Retirement |
1.5 |
1.5 |
1.5 |
1.5 |
1.6 |
|
Service Cost - Post-Retirement |
0.4 |
0.3 |
0.3 |
0.1 |
0.4 |
|
Other Post-Retirement, Net |
-0.6 |
-0.7 |
-0.7 |
-0.8 |
-0.5 |
|
Post-Retirement Plan Expense |
1.3 |
1.0 |
1.0 |
0.9 |
1.6 |
|
Defined Contribution Expense - Domestic |
0.7 |
1.8 |
1.9 |
1.7 |
1.7 |
|
Defined Contribution Expense - Foreign |
1.1 |
2.7 |
1.4 |
1.3 |
1.0 |
|
Defined Contribution Expense Retirement |
1.2 |
1.3 |
1.3 |
- |
1.1 |
|
Total Pension Expense |
9.5 |
15.7 |
10.2 |
8.1 |
10.2 |
|
Total Plan Interest Cost |
16.0 |
16.0 |
16.0 |
15.0 |
16.3 |
|
Total Plan Service Cost |
3.9 |
3.7 |
3.7 |
3.3 |
3.9 |
|
Total Plan Expected Return |
-17.4 |
-17.6 |
-17.6 |
-15.5 |
-16.7 |
|
Total Plan Other Expense |
4.0 |
3.5 |
3.5 |
2.3 |
2.8 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Short Term Investments |
- |
- |
- |
0.6 |
0.6 |
|
Cash and Short Term Investments |
131.3 |
80.1 |
178.5 |
152.1 |
115.1 |
|
Accounts Receivable -
Trade, Gross |
458.1 |
454.5 |
412.1 |
412.2 |
369.9 |
|
Provision for Doubtful
Accounts |
-6.3 |
-10.3 |
-11.2 |
-11.7 |
-12.7 |
|
Trade Accounts Receivable - Net |
451.8 |
444.3 |
401.0 |
400.5 |
357.2 |
|
Other Receivables |
- |
- |
- |
50.1 |
48.1 |
|
Total Receivables, Net |
451.8 |
444.3 |
401.0 |
450.6 |
405.3 |
|
Inventories - Finished Goods |
255.3 |
206.8 |
233.3 |
235.6 |
220.2 |
|
Inventories - Work In Progress |
6.2 |
9.2 |
11.0 |
10.7 |
12.7 |
|
Inventories - Raw Materials |
270.2 |
229.0 |
235.3 |
237.9 |
213.7 |
|
Total Inventory |
531.7 |
445.0 |
479.6 |
484.2 |
446.6 |
|
Prepaid Expenses |
136.2 |
103.7 |
90.7 |
44.6 |
23.3 |
|
Deferred Income Tax - Current Asset |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Other Current Assets, Total |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Total Current Assets |
1,325.2 |
1,128.1 |
1,202.4 |
1,156.1 |
1,079.8 |
|
|
|
|
|
|
|
|
Buildings |
286.8 |
272.0 |
234.7 |
242.2 |
225.2 |
|
Land/Improvements |
26.5 |
28.2 |
25.5 |
28.0 |
24.9 |
|
Machinery/Equipment |
926.8 |
913.1 |
854.8 |
855.8 |
760.3 |
|
Construction in
Progress |
104.9 |
52.6 |
56.9 |
39.1 |
64.4 |
|
Property/Plant/Equipment - Gross |
1,344.9 |
1,265.9 |
1,171.9 |
1,165.1 |
1,074.8 |
|
Accumulated Depreciation |
-806.8 |
-764.6 |
-675.1 |
-656.3 |
-579.6 |
|
Property/Plant/Equipment - Net |
538.1 |
501.3 |
496.9 |
508.8 |
495.1 |
|
Goodwill, Net |
665.6 |
665.6 |
665.6 |
665.6 |
665.6 |
|
Intangibles - Gross |
165.4 |
165.4 |
165.4 |
165.4 |
165.4 |
|
Accumulated Intangible Amortization |
-116.6 |
-110.5 |
-104.3 |
-98.2 |
-85.3 |
|
Intangibles, Net |
48.8 |
54.9 |
61.1 |
67.3 |
80.1 |
|
Pension Benefits - Overfunded |
- |
- |
- |
- |
33.9 |
|
Deferred Income Tax - Long Term Asset |
122.8 |
129.7 |
131.7 |
109.1 |
82.4 |
|
Other Long Term Assets |
171.9 |
165.2 |
192.3 |
219.5 |
42.0 |
|
Other Long Term Assets, Total |
294.7 |
294.9 |
324.0 |
328.6 |
158.3 |
|
Total Assets |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
200.2 |
161.0 |
115.0 |
131.0 |
111.7 |
|
Accrued Expenses |
132.7 |
88.1 |
98.8 |
138.3 |
83.0 |
|
Notes Payable/Short Term Debt |
133.9 |
76.8 |
102.0 |
152.5 |
15.9 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
- |
0.0 |
|
Dividends Payable |
21.7 |
19.8 |
19.7 |
18.6 |
18.8 |
|
Income Taxes Payable |
- |
- |
- |
- |
45.3 |
|
Deferred Income Tax - Current Liability |
- |
- |
1.8 |
4.5 |
- |
|
Other Current Liabilities |
172.5 |
138.7 |
113.8 |
98.5 |
172.2 |
|
Other Current liabilities, Total |
194.2 |
158.5 |
135.2 |
121.7 |
236.2 |
|
Total Current Liabilities |
661.0 |
484.5 |
451.0 |
543.4 |
446.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Debt |
921.6 |
1,011.5 |
1,255.7 |
1,212.6 |
807.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.7 |
2.9 |
7.5 |
- |
- |
|
Pension Benefits - Underfunded |
222.0 |
241.0 |
276.2 |
172.0 |
170.7 |
|
Other Long Term Liabilities |
198.7 |
212.7 |
288.3 |
333.5 |
164.8 |
|
Other Liabilities, Total |
420.7 |
453.7 |
564.6 |
505.5 |
335.5 |
|
Total Liabilities |
1,873.0 |
1,875.8 |
2,176.8 |
2,109.1 |
1,573.7 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Additional Paid-In Capital |
123.8 |
110.4 |
106.1 |
55.0 |
96.6 |
|
Retained Earnings (Accumulated Deficit) |
2,519.7 |
2,339.2 |
2,222.6 |
2,078.9 |
1,909.6 |
|
Treasury Stock - Common |
-1,383.2 |
-1,424.1 |
-1,445.0 |
-1,386.9 |
-918.7 |
|
Translation Adjustment |
-74.8 |
-68.6 |
-149.8 |
-33.0 |
-31.9 |
|
Minimum Pension Liability Adjustment |
-196.3 |
-199.6 |
-171.4 |
-109.5 |
-162.6 |
|
Other Comprehensive Income |
-4.2 |
-2.7 |
-3.8 |
-1.8 |
-2.5 |
|
Other Equity, Total |
-275.4 |
-271.0 |
-325.1 |
-144.3 |
-196.9 |
|
Total Equity |
999.4 |
769.0 |
573.1 |
617.2 |
905.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Total Common Shares Outstanding |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Treasury Shares - Common Stock Primary Issue |
35.6 |
36.6 |
37.1 |
34.8 |
26.3 |
|
Employees |
5,514 |
5,377 |
5,300 |
5,300 |
5,087 |
|
Number of Common Shareholders |
2,740 |
3,004 |
3,167 |
3,248 |
3,393 |
|
Accumulated Intangible Amort, Suppl. |
116.6 |
110.5 |
104.3 |
98.2 |
85.3 |
|
Total Long Term Debt, Supplemental |
909.0 |
997.0 |
1,238.0 |
1,213.0 |
807.0 |
|
Long Term Debt Maturing within 1 Year |
134.0 |
77.0 |
102.0 |
153.0 |
16.0 |
|
Long Term Debt Maturing in Year 2 |
50.0 |
120.0 |
270.0 |
25.0 |
81.5 |
|
Long Term Debt Maturing in Year 3 |
100.0 |
75.0 |
141.0 |
25.0 |
81.5 |
|
Long Term Debt Maturing in Year 4 |
- |
100.0 |
100.0 |
138.0 |
201.5 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
138.0 |
201.5 |
|
Long Term Debt Maturing in 2-3 Years |
150.0 |
195.0 |
411.0 |
50.0 |
163.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
100.0 |
100.0 |
276.0 |
403.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
625.0 |
625.0 |
625.0 |
734.0 |
225.0 |
|
Total Operating Leases, Supplemental |
124.0 |
296.0 |
286.0 |
293.0 |
303.0 |
|
Operating Lease Payments Due in Year 1 |
25.0 |
28.0 |
26.0 |
24.0 |
23.0 |
|
Operating Lease Payments Due in Year 2 |
23.0 |
25.0 |
24.0 |
21.0 |
20.0 |
|
Operating Lease Payments Due in Year 3 |
21.0 |
22.0 |
21.0 |
20.0 |
19.0 |
|
Operating Lease Payments Due in Year 4 |
19.0 |
20.0 |
19.0 |
18.0 |
16.0 |
|
Operating Lease Payments Due in Year 5 |
18.0 |
17.0 |
17.0 |
16.0 |
16.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
44.0 |
47.0 |
45.0 |
41.0 |
39.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
37.0 |
37.0 |
36.0 |
34.0 |
32.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
18.0 |
184.0 |
179.0 |
194.0 |
209.0 |
|
Pension Obligation - Domestic |
440.6 |
0.4 |
404.9 |
395.0 |
378.7 |
|
Pension Obligation - Foreign |
625.1 |
0.6 |
499.0 |
661.4 |
681.0 |
|
Post-Retirement Obligation |
108.7 |
0.1 |
106.2 |
102.9 |
104.5 |
|
Plan Assets - Domestic |
347.1 |
0.3 |
248.2 |
349.2 |
336.1 |
|
Plan Assets - Foreign |
671.6 |
0.7 |
574.9 |
756.0 |
694.3 |
|
Funded Status - Domestic |
-93.6 |
-0.1 |
-156.8 |
-45.7 |
-42.6 |
|
Funded Status - Foreign |
46.5 |
0.0 |
75.9 |
94.7 |
13.3 |
|
Funded Status - Post-Retirement |
-108.7 |
-0.1 |
-106.2 |
-102.9 |
-104.5 |
|
Accumulated Obligation - Domestic |
435.1 |
0.4 |
393.3 |
374.7 |
361.7 |
|
Accumulated Obligation - Foreign |
598.0 |
0.6 |
475.2 |
628.7 |
646.8 |
|
Accumulated Obligation - Post-Retirement |
- |
- |
- |
102.9 |
104.5 |
|
Total Funded Status |
-155.8 |
-0.2 |
-187.0 |
-54.0 |
-133.8 |
|
Discount Rate - Domestic |
5.60% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Discount Rate - Foreign |
5.37% |
5.66% |
6.11% |
5.78% |
4.95% |
|
Discount Rate - Post-Retirement |
5.50% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Compensation Rate - Domestic |
3.25% |
3.25% |
3.50% |
4.00% |
3.75% |
|
Compensation Rate - Foreign |
2.66% |
3.00% |
2.56% |
2.98% |
2.54% |
|
Prepaid Benefits - Foreign |
66.3 |
61.9 |
98.8 |
111.4 |
33.9 |
|
Accrued Liabilities - Domestic |
-93.6 |
-102.0 |
-156.8 |
-45.7 |
-42.6 |
|
Accrued Liabilities - Foreign |
-19.8 |
-23.0 |
-22.9 |
-16.7 |
-20.5 |
|
Accrued Liabilities - Post-Retirement |
- |
- |
- |
- |
-104.5 |
|
Other Assets, Net - Domestic |
132.0 |
128.5 |
156.8 |
44.7 |
60.4 |
|
Other Assets, Net - Foreign |
155.3 |
160.9 |
98.7 |
98.8 |
156.2 |
|
Other Assets, Net - Post-Retirement |
1.1 |
4.3 |
1.1 |
17.0 |
22.7 |
|
Net Assets Recognized on Balance Sheet |
241.3 |
230.6 |
175.7 |
209.4 |
105.5 |
|
Equity % - Domestic |
64.00% |
60.00% |
70.00% |
76.00% |
74.00% |
|
Equity % - Foreign |
31.00% |
30.00% |
25.00% |
34.00% |
39.00% |
|
Debt Securities % - Domestic |
36.00% |
40.00% |
7.00% |
7.00% |
12.00% |
|
Debt Securities % - Foreign |
54.00% |
56.00% |
57.00% |
41.00% |
36.00% |
|
Real Estate % - Foreign |
11.00% |
12.00% |
14.00% |
13.00% |
11.00% |
|
Other Investments % - Domestic |
- |
- |
23.00% |
17.00% |
14.00% |
|
Other Investments % - Foreign |
4.00% |
2.00% |
4.00% |
12.00% |
14.00% |
|
Total Plan Obligations |
1,174.4 |
1.1 |
1,010.1 |
1,159.3 |
1,164.1 |
|
Total Plan Assets |
1,018.6 |
1.0 |
823.0 |
1,105.3 |
1,030.4 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
107.3 |
123.4 |
112.0 |
131.3 |
131.3 |
|
Cash and Short Term Investments |
107.3 |
123.4 |
112.0 |
131.3 |
131.3 |
|
Accounts Receivable -
Trade, Gross |
522.7 |
551.2 |
526.4 |
458.1 |
- |
|
Provision for Doubtful
Accounts |
-3.8 |
-5.6 |
-6.3 |
-6.3 |
- |
|
Trade Accounts Receivable - Net |
519.0 |
545.6 |
520.1 |
451.8 |
451.8 |
|
Total Receivables, Net |
519.0 |
545.6 |
520.1 |
451.8 |
451.8 |
|
Inventories - Finished Goods |
275.7 |
274.9 |
263.4 |
255.3 |
- |
|
Inventories - Work In Progress |
9.0 |
9.0 |
9.5 |
6.2 |
- |
|
Inventories - Raw Materials |
250.0 |
284.3 |
286.7 |
270.2 |
- |
|
Total Inventory |
534.8 |
568.2 |
559.6 |
531.7 |
531.7 |
|
Prepaid Expenses |
173.8 |
148.0 |
137.4 |
136.2 |
- |
|
Deferred Income Tax - Current Asset |
48.7 |
54.1 |
58.6 |
74.2 |
- |
|
Other Current Assets |
- |
- |
- |
- |
210.4 |
|
Other Current Assets, Total |
48.7 |
54.1 |
58.6 |
74.2 |
210.4 |
|
Total Current Assets |
1,383.4 |
1,439.2 |
1,387.6 |
1,325.2 |
1,325.2 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Gross |
1,383.6 |
1,398.9 |
1,372.8 |
1,344.9 |
- |
|
Accumulated Depreciation |
-819.9 |
-834.2 |
-821.8 |
-806.8 |
- |
|
Property/Plant/Equipment - Net |
563.7 |
564.7 |
551.1 |
538.1 |
538.1 |
|
Goodwill, Net |
665.6 |
665.6 |
665.6 |
665.6 |
714.4 |
|
Intangibles - Gross |
165.4 |
165.4 |
165.4 |
165.4 |
- |
|
Accumulated Intangible Amortization |
-121.1 |
-119.6 |
-118.1 |
-116.6 |
- |
|
Intangibles, Net |
44.3 |
45.8 |
47.3 |
48.8 |
- |
|
Deferred Income Tax - Long Term Asset |
119.4 |
115.1 |
120.8 |
122.8 |
- |
|
Other Long Term Assets |
177.1 |
178.2 |
174.2 |
171.9 |
294.7 |
|
Other Long Term Assets, Total |
296.5 |
293.3 |
294.9 |
294.7 |
294.7 |
|
Total Assets |
2,953.5 |
3,008.6 |
2,946.5 |
2,872.5 |
2,872.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
180.9 |
166.4 |
185.2 |
200.2 |
- |
|
Accrued Expenses |
47.5 |
44.9 |
40.5 |
95.1 |
- |
|
Notes Payable/Short Term Debt |
154.7 |
216.3 |
185.1 |
133.9 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
- |
133.9 |
|
Dividends Payable |
30.0 |
21.8 |
21.7 |
21.7 |
- |
|
Other Current Liabilities |
162.2 |
179.2 |
201.4 |
210.1 |
527.1 |
|
Other Current liabilities, Total |
192.2 |
201.0 |
223.1 |
231.8 |
527.1 |
|
Total Current Liabilities |
575.3 |
628.7 |
634.0 |
661.0 |
661.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
757.1 |
767.4 |
787.0 |
787.7 |
787.7 |
|
Total Long Term Debt |
757.1 |
767.4 |
787.0 |
787.7 |
787.7 |
|
Total Debt |
911.7 |
983.7 |
972.1 |
921.6 |
921.6 |
|
|
|
|
|
|
|
|
Minority Interest |
3.1 |
4.1 |
4.3 |
3.7 |
- |
|
Pension Benefits - Underfunded |
223.8 |
223.6 |
222.9 |
222.0 |
- |
|
Other Long Term Liabilities |
198.9 |
200.3 |
199.8 |
198.7 |
420.7 |
|
Other Liabilities, Total |
422.7 |
423.9 |
422.7 |
420.7 |
420.7 |
|
Total Liabilities |
1,758.2 |
1,824.0 |
1,848.0 |
1,873.0 |
1,869.3 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
- |
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
- |
|
Additional Paid-In Capital |
125.7 |
123.6 |
125.4 |
123.8 |
- |
|
Retained Earnings (Accumulated Deficit) |
2,693.6 |
2,636.4 |
2,582.1 |
2,519.7 |
- |
|
Treasury Stock - Common |
-1,357.5 |
-1,359.7 |
-1,377.5 |
-1,383.2 |
- |
|
Translation Adjustment |
-94.7 |
-35.9 |
-46.0 |
-74.8 |
- |
|
Other Equity |
- |
- |
- |
- |
1,003.2 |
|
Minimum Pension Liability Adjustment |
-186.0 |
-188.6 |
-193.7 |
-196.3 |
- |
|
Other Comprehensive Income |
-0.2 |
-5.6 |
-6.2 |
-4.2 |
- |
|
Other Equity, Total |
-280.8 |
-230.2 |
-245.9 |
-275.4 |
1,003.2 |
|
Total Equity |
1,195.4 |
1,184.6 |
1,098.6 |
999.4 |
1,003.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,953.5 |
3,008.6 |
2,946.5 |
2,872.5 |
2,872.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
80.9 |
80.8 |
80.4 |
80.2 |
79.9 |
|
Total Common Shares Outstanding |
80.9 |
80.8 |
80.4 |
80.2 |
79.9 |
|
Treasury Shares - Common Stock Primary Issue |
34.9 |
34.9 |
35.4 |
35.6 |
35.8 |
|
Accumulated Intangible Amort, Suppl. |
121.1 |
119.6 |
118.1 |
116.6 |
- |
|
Total Long Term Debt, Supplemental |
- |
216.3 |
185.1 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
- |
216.3 |
185.1 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.0 |
0.0 |
- |
- |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Depreciation |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Depreciation/Depletion |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Deferred Taxes |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Unusual Items |
-3.7 |
-2.3 |
-2.2 |
-7.8 |
-22.8 |
|
Other Non-Cash Items |
22.0 |
19.7 |
17.2 |
18.2 |
18.2 |
|
Non-Cash Items |
18.3 |
17.3 |
15.1 |
10.3 |
-4.7 |
|
Accounts Receivable |
-12.1 |
-27.4 |
-39.9 |
-33.0 |
-27.2 |
|
Inventories |
-86.3 |
47.1 |
-19.7 |
-12.4 |
9.5 |
|
Other Assets |
-53.9 |
-85.8 |
-25.0 |
-2.1 |
-20.4 |
|
Accounts Payable |
116.8 |
56.7 |
-30.6 |
22.3 |
38.1 |
|
Other Liabilities |
2.8 |
27.0 |
7.8 |
5.3 |
-17.6 |
|
Changes in Working Capital |
-32.7 |
17.6 |
-107.3 |
-19.8 |
-17.5 |
|
Cash from Operating Activities |
315.1 |
291.6 |
220.6 |
314.1 |
281.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Capital Expenditures |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Sale of Fixed Assets |
1.7 |
1.8 |
2.8 |
17.0 |
27.2 |
|
Sale/Maturity of Investment |
- |
0.0 |
0.0 |
10.5 |
0.0 |
|
Investment, Net |
1.7 |
-13.6 |
0.0 |
0.0 |
- |
|
Purchase of Investments |
-3.9 |
-2.2 |
-7.2 |
-13.2 |
-17.4 |
|
Other Investing Cash Flow Items, Total |
-0.5 |
-14.1 |
-4.4 |
14.3 |
9.9 |
|
Cash from Investing Activities |
-106.8 |
-80.9 |
-89.7 |
-51.4 |
-48.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Financing Cash Flow Items |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Cash Dividends Paid - Common |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Total Cash Dividends Paid |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Sale/Issuance of
Common |
26.2 |
7.0 |
7.4 |
50.1 |
110.9 |
|
Repurchase/Retirement
of Common |
0.0 |
-2.0 |
-30.0 |
-577.0 |
-271.0 |
|
Common Stock, Net |
26.2 |
5.0 |
-22.6 |
-526.9 |
-160.1 |
|
Issuance (Retirement) of Stock, Net |
26.2 |
5.0 |
-22.6 |
-526.9 |
-160.1 |
|
Short Term Debt, Net |
-103.2 |
-37.3 |
2.9 |
-129.6 |
-48.7 |
|
Long Term Debt Issued |
0.0 |
0.0 |
139.2 |
498.6 |
373.6 |
|
Long Term Debt, Net |
0.0 |
-201.1 |
-0.2 |
498.6 |
-125.7 |
|
Issuance (Retirement) of Debt, Net |
-103.2 |
-238.4 |
2.7 |
368.9 |
-174.4 |
|
Cash from Financing Activities |
-156.7 |
-312.2 |
-94.7 |
-228.0 |
-397.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.4 |
3.1 |
-9.2 |
2.3 |
6.0 |
|
Net Change in Cash |
51.2 |
-98.3 |
27.0 |
37.0 |
-158.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
80.1 |
178.5 |
151.5 |
114.5 |
272.5 |
|
Net Cash - Ending Balance |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Cash Interest Paid |
54.1 |
70.8 |
87.3 |
36.0 |
31.7 |
|
Cash Taxes Paid |
70.8 |
58.1 |
50.3 |
60.4 |
79.4 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
242.5 |
160.2 |
84.0 |
263.6 |
208.0 |
|
Depreciation |
56.2 |
37.4 |
18.0 |
79.2 |
60.1 |
|
Depreciation/Depletion |
56.2 |
37.4 |
18.0 |
79.2 |
60.1 |
|
Deferred Taxes |
25.7 |
27.2 |
17.9 |
-13.3 |
-40.7 |
|
Unusual Items |
-2.4 |
-1.6 |
-0.8 |
-3.7 |
-3.0 |
|
Other Non-Cash Items |
23.0 |
19.5 |
6.3 |
22.0 |
16.7 |
|
Non-Cash Items |
20.7 |
17.9 |
5.5 |
18.3 |
13.7 |
|
Accounts Receivable |
-71.9 |
-73.2 |
-55.6 |
-12.1 |
-60.9 |
|
Inventories |
-6.9 |
-14.1 |
-11.9 |
-86.3 |
-53.2 |
|
Other Assets |
-35.4 |
-13.5 |
9.1 |
-53.9 |
-22.2 |
|
Accounts Payable |
-125.0 |
-137.5 |
-93.1 |
116.8 |
92.8 |
|
Other Liabilities |
10.9 |
-2.2 |
-8.9 |
2.8 |
10.6 |
|
Changes in Working Capital |
-228.3 |
-240.6 |
-160.4 |
-32.7 |
-32.8 |
|
Cash from Operating Activities |
116.7 |
2.1 |
-34.9 |
315.1 |
208.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-74.7 |
-45.7 |
-19.4 |
-106.3 |
-53.6 |
|
Capital Expenditures |
-74.7 |
-45.7 |
-19.4 |
-106.3 |
-53.6 |
|
Sale of Fixed Assets |
0.5 |
0.4 |
0.1 |
1.7 |
1.5 |
|
Investment, Net |
-2.2 |
1.0 |
- |
1.7 |
1.7 |
|
Purchase of Investments |
-1.7 |
-1.4 |
-0.2 |
-3.9 |
-3.6 |
|
Other Investing Cash Flow Items, Total |
-3.5 |
0.0 |
-0.1 |
-0.5 |
-0.4 |
|
Cash from Investing Activities |
-78.2 |
-45.7 |
-19.4 |
-106.8 |
-54.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
5.2 |
5.1 |
0.8 |
1.4 |
- |
|
Financing Cash Flow Items |
5.2 |
5.1 |
0.8 |
1.4 |
- |
|
Cash Dividends Paid - Common |
-65.2 |
-43.3 |
-21.7 |
-81.2 |
-59.6 |
|
Total Cash Dividends Paid |
-65.2 |
-43.3 |
-21.7 |
-81.2 |
-59.6 |
|
Sale/Issuance of
Common |
14.3 |
13.2 |
3.5 |
26.2 |
17.1 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
0.0 |
0.0 |
|
Common Stock, Net |
14.3 |
13.2 |
3.5 |
26.2 |
17.1 |
|
Issuance (Retirement) of Stock, Net |
14.3 |
13.2 |
3.5 |
26.2 |
17.1 |
|
Short Term Debt, Net |
83.3 |
59.1 |
51.6 |
-103.2 |
-76.1 |
|
Long Term Debt Issued |
- |
- |
- |
0.0 |
- |
|
Long Term Debt
Reduction |
-100.0 |
- |
- |
0.0 |
0.0 |
|
Long Term Debt, Net |
-100.0 |
- |
- |
0.0 |
0.0 |
|
Issuance (Retirement) of Debt, Net |
-16.7 |
59.1 |
51.6 |
-103.2 |
-76.1 |
|
Cash from Financing Activities |
-62.3 |
34.0 |
34.2 |
-156.7 |
-118.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.2 |
1.7 |
0.8 |
-0.4 |
-1.0 |
|
Net Change in Cash |
-24.0 |
-7.9 |
-19.4 |
51.2 |
34.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
131.3 |
131.3 |
131.3 |
80.1 |
80.1 |
|
Net Cash - Ending Balance |
107.3 |
123.4 |
112.0 |
131.3 |
114.9 |
|
Cash Interest Paid |
53.5 |
27.2 |
26.3 |
54.1 |
53.1 |
|
Cash Taxes Paid |
60.2 |
38.1 |
20.3 |
70.8 |
45.9 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
Total Revenue |
2,622.9 |
2,326.2 |
2,389.4 |
2,276.6 |
2,095.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
1,530.3 |
1,391.9 |
1,418.4 |
1,324.4 |
1,211.3 |
|
Research and development |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Selling and administrative |
447.4 |
390.9 |
400.7 |
375.3 |
351.9 |
|
Restructuring and other charges |
10.1 |
18.3 |
18.2 |
0.0 |
2.7 |
|
Amortization |
- |
- |
- |
12.9 |
14.8 |
|
Curtailment loss |
- |
- |
- |
5.9 |
0.0 |
|
Interest Expense |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Foreign Exchange Loss (Gain) |
- |
- |
- |
- |
7.0 |
|
Other (income) expense, net |
8.1 |
1.9 |
-2.8 |
-11.1 |
-16.8 |
|
Total Operating Expense |
2,263.3 |
2,049.6 |
2,105.5 |
1,945.8 |
1,782.1 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
359.6 |
276.5 |
283.9 |
330.8 |
313.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Net Income After Taxes |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
79.5 |
78.4 |
79.0 |
86.5 |
90.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Basic EPS Including ExtraOrdinary Item |
3.32 |
2.49 |
2.91 |
2.86 |
2.50 |
|
Diluted Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Diluted Weighted Average Shares |
80.4 |
79.1 |
79.7 |
87.5 |
91.4 |
|
Diluted EPS Excluding ExtraOrd Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
Diluted EPS Including ExtraOrd Items |
3.28 |
2.47 |
2.88 |
2.82 |
2.48 |
|
DPS-Common Stock |
1.04 |
1.00 |
0.96 |
0.88 |
0.77 |
|
Gross Dividends - Common Stock |
83.1 |
79.0 |
75.9 |
76.5 |
69.0 |
|
Normalized Income Before Taxes |
369.7 |
301.2 |
302.1 |
336.8 |
316.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.1 |
- |
- |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
97.2 |
88.2 |
57.8 |
85.2 |
87.5 |
|
Normalized Income After Taxes |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
272.5 |
212.9 |
244.4 |
251.6 |
228.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.43 |
2.72 |
3.09 |
2.91 |
2.53 |
|
Diluted Normalized EPS |
3.39 |
2.69 |
3.07 |
2.87 |
2.50 |
|
Research & Development Exp |
218.8 |
184.8 |
196.9 |
196.9 |
185.7 |
|
Interest Expense |
48.7 |
61.8 |
74.0 |
41.5 |
25.5 |
|
Amort of Intangibles |
6.0 |
6.0 |
6.0 |
12.9 |
14.8 |
|
Depreciation |
73.2 |
72.5 |
70.0 |
69.9 |
74.9 |
|
Rental Expense |
29.0 |
30.0 |
28.0 |
27.0 |
25.0 |
|
Current Tax - Federal |
5.4 |
3.8 |
-8.4 |
9.3 |
2.9 |
|
Current Tax - State |
0.5 |
0.4 |
-0.1 |
-1.4 |
4.2 |
|
Current Tax - Foreign |
103.5 |
94.1 |
55.5 |
82.1 |
92.1 |
|
Current Tax - Total |
109.3 |
98.4 |
47.0 |
90.0 |
99.2 |
|
Deferred Tax - Federal |
-21.9 |
-13.8 |
1.6 |
-13.6 |
-10.1 |
|
Deferred Tax - State |
2.3 |
6.8 |
-1.8 |
-1.0 |
-0.7 |
|
Deferred Tax - Foreign |
6.3 |
-10.4 |
7.4 |
8.4 |
-1.6 |
|
Deferred Tax - Total |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Income Tax - Total |
96.0 |
81.0 |
54.3 |
83.7 |
86.8 |
|
Service Cost - U.S. |
3.8 |
4.1 |
4.6 |
10.3 |
9.9 |
|
Interest Cost - U.S. |
24.2 |
23.7 |
23.9 |
24.0 |
21.7 |
|
Expected Return on Assets - U.S. |
-24.1 |
-24.6 |
-25.1 |
-24.3 |
-21.9 |
|
Net, Amortization and Deferrals- U.S. |
7.4 |
6.4 |
4.6 |
6.6 |
7.4 |
|
Settlement and Curtailment-U.S |
0.0 |
0.0 |
0.0 |
5.9 |
0.0 |
|
Domestic Pension Plan Expense |
11.3 |
9.6 |
8.0 |
22.5 |
17.2 |
|
Service Cost - Non-U.S. |
9.8 |
8.7 |
10.3 |
11.6 |
12.7 |
|
Interest Cost - Non-U.S. |
33.0 |
31.0 |
36.3 |
35.6 |
29.4 |
|
Expected Return on Assets - Non-U.S. |
-41.6 |
-40.6 |
-51.3 |
-52.6 |
-39.8 |
|
Net, Amortization and Deferrals-Non U.S. |
5.2 |
3.0 |
3.0 |
6.1 |
8.8 |
|
Special Termination Benefits - Non-U.S. |
- |
- |
- |
- |
0.0 |
|
Curtailments & Settlements - Non-U.S. |
0.2 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Foreign Pension Plan Expense |
6.6 |
2.5 |
-1.7 |
0.7 |
11.1 |
|
Service Cost - Post-Retirement |
1.4 |
1.6 |
2.7 |
2.6 |
2.9 |
|
Interest Cost - Post-Retirement |
6.5 |
6.2 |
7.1 |
5.9 |
5.5 |
|
Net Amortization and Deferrals |
-2.2 |
-2.0 |
-0.7 |
-0.3 |
-0.1 |
|
Post-Retirement Plan Expense |
5.6 |
5.8 |
9.1 |
8.2 |
8.3 |
|
Defined Contribution Plans - U.S. |
7.2 |
6.3 |
6.2 |
4.9 |
3.5 |
|
Defined Contribution Plans - Non-U.S. |
4.5 |
4.1 |
4.4 |
4.1 |
3.5 |
|
Total Pension Expense |
35.1 |
28.3 |
25.9 |
40.4 |
43.6 |
|
Discount Rate - U.S. |
6.10% |
6.00% |
6.10% |
6.00% |
5.75% |
|
Expected Rate of Return - U.S. |
8.25% |
8.25% |
8.25% |
8.25% |
8.25% |
|
Compensation Rate - U.S. |
3.25% |
3.50% |
4.00% |
3.75% |
3.75% |
|
Discount Rate - Non-U.S. |
5.66% |
6.11% |
5.78% |
4.95% |
4.57% |
|
Expected Rate of Return - Non-U.S. |
6.63% |
6.76% |
7.02% |
7.06% |
6.99% |
|
Compensation Rate - Non-U.S. |
3.00% |
2.56% |
2.98% |
2.54% |
2.46% |
|
Discount Rate - Post-Retirement |
6.10% |
6.00% |
- |
6.00% |
5.75% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net sales |
715.6 |
714.3 |
629.9 |
673.3 |
665.8 |
|
Total Revenue |
715.6 |
714.3 |
629.9 |
673.3 |
665.8 |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
431.2 |
416.8 |
377.5 |
388.2 |
380.8 |
|
Research and development expenses |
56.2 |
57.5 |
57.1 |
53.2 |
55.8 |
|
Selling and administrative expenses |
106.2 |
106.6 |
110.9 |
109.0 |
119.5 |
|
Restructuring and other charges, net |
4.0 |
0.0 |
0.9 |
2.4 |
1.8 |
|
Interest expense |
12.0 |
11.7 |
11.7 |
12.2 |
12.1 |
|
Other expense (income), net |
1.1 |
6.1 |
1.1 |
2.1 |
2.1 |
|
Total Operating Expense |
610.7 |
598.7 |
559.2 |
567.1 |
572.2 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
104.9 |
115.6 |
70.7 |
106.2 |
93.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
28.7 |
31.6 |
15.1 |
29.1 |
26.5 |
|
Net Income After Taxes |
76.2 |
84.0 |
55.6 |
77.0 |
67.2 |
|
|
|
|
|
|
|
|
Purchased Restricted Stock Adjustment |
-0.4 |
-0.5 |
1.3 |
-0.5 |
-0.4 |
|
Net Income Before Extra. Items |
75.8 |
83.5 |
56.9 |
76.5 |
66.8 |
|
Net Income |
75.8 |
83.5 |
56.9 |
76.5 |
66.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
75.8 |
83.5 |
56.9 |
76.5 |
66.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
75.8 |
83.5 |
56.9 |
76.5 |
66.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
80.5 |
80.0 |
79.8 |
79.4 |
79.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.94 |
1.04 |
0.71 |
0.96 |
0.84 |
|
Basic EPS Including ExtraOrdinary Item |
0.94 |
1.04 |
0.71 |
0.96 |
0.84 |
|
Diluted Net Income |
75.8 |
83.5 |
56.9 |
76.5 |
66.8 |
|
Diluted Weighted Average Shares |
81.5 |
81.2 |
80.8 |
80.3 |
80.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.93 |
1.03 |
0.70 |
0.95 |
0.83 |
|
Diluted EPS Including ExtraOrd Items |
0.93 |
1.03 |
0.70 |
0.95 |
0.83 |
|
DPS-Common Stock |
0.27 |
0.27 |
0.27 |
0.27 |
0.25 |
|
Normalized Income Before Taxes |
108.9 |
115.6 |
71.6 |
108.5 |
95.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
29.8 |
31.6 |
15.3 |
29.8 |
27.0 |
|
Normalized Income After Taxes |
79.1 |
84.1 |
56.3 |
78.7 |
68.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
78.7 |
83.6 |
57.6 |
78.2 |
68.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.98 |
1.04 |
0.72 |
0.99 |
0.86 |
|
Diluted Normalized EPS |
0.97 |
1.03 |
0.71 |
0.97 |
0.85 |
|
Research & Development Exp |
56.2 |
57.5 |
57.1 |
53.2 |
55.8 |
|
Amort of Intangibles |
1.5 |
1.5 |
1.5 |
1.5 |
1.5 |
|
Depreciation |
17.9 |
16.5 |
17.6 |
18.4 |
18.7 |
|
Interest Expense |
12.0 |
11.7 |
11.7 |
12.2 |
12.1 |
|
Gross margin |
284.4 |
- |
- |
- |
- |
|
Service Cost - U.S. |
0.9 |
0.9 |
0.9 |
1.0 |
0.9 |
|
Interest Cost - U.S. |
6.0 |
6.0 |
6.0 |
6.2 |
6.0 |
|
Expected Return on Assets - U.S. |
-6.3 |
-6.3 |
-6.0 |
-6.0 |
-6.0 |
|
Net Amortization & Deferrals - U.S. |
2.8 |
2.8 |
1.9 |
2.0 |
1.8 |
|
Loss due to curtailments |
0.4 |
0.0 |
- |
- |
0.0 |
|
Domestic Pension Plan Expense |
3.9 |
3.4 |
2.8 |
3.1 |
2.7 |
|
Service Cost - Non-U.S. |
2.6 |
2.6 |
2.2 |
2.4 |
2.6 |
|
Interest Cost - Non-U.S. |
8.5 |
8.5 |
7.4 |
8.5 |
8.6 |
|
Expected Return on Assets - Non-U.S. |
-11.3 |
-11.3 |
-9.4 |
-10.7 |
-10.8 |
|
Net Amortization & Deferrals - Non-U.S. |
1.4 |
1.4 |
1.2 |
1.3 |
1.3 |
|
Settlement and Curtailment-Non-US |
3.9 |
- |
0.1 |
0.1 |
0.0 |
|
Foreign Pension Plan Expense |
5.0 |
1.1 |
1.4 |
1.7 |
1.8 |
|
Service Cost - Post-Retirement |
0.3 |
0.3 |
0.1 |
0.4 |
0.4 |
|
Interest Cost - Post-Retirement |
1.5 |
1.5 |
1.5 |
1.6 |
1.6 |
|
Other Post-Retirement, Net |
-0.7 |
-0.7 |
-0.8 |
-0.5 |
-0.5 |
|
Post-Retirement Plan Expense |
1.0 |
1.0 |
0.9 |
1.6 |
1.6 |
|
Defined Contribution Plans -US |
1.8 |
1.9 |
1.7 |
1.7 |
1.8 |
|
Defined Contribution Plans - NON US |
2.7 |
1.4 |
1.3 |
1.0 |
1.2 |
|
Defined Contribution Expense Post Retir |
1.3 |
1.3 |
- |
1.1 |
1.3 |
|
Total Pension Expense |
15.7 |
10.2 |
8.1 |
10.2 |
10.4 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
ST Investments |
- |
- |
- |
0.6 |
0.6 |
|
Trade Rcvbl. |
458.1 |
454.5 |
412.1 |
412.2 |
369.9 |
|
Allow. for Rcvbl |
-6.3 |
-10.3 |
-11.2 |
-11.7 |
-12.7 |
|
Other Rcvbl. |
- |
- |
- |
50.1 |
48.1 |
|
Raw Materials |
270.2 |
229.0 |
235.3 |
237.9 |
213.7 |
|
Work in Process |
6.2 |
9.2 |
11.0 |
10.7 |
12.7 |
|
Finished Goods |
255.3 |
206.8 |
233.3 |
235.6 |
220.2 |
|
Deferred income taxes |
74.2 |
55.0 |
52.7 |
24.7 |
89.4 |
|
Prepaid expenses and other current asset |
136.2 |
103.7 |
90.7 |
44.6 |
23.3 |
|
Total Current Assets |
1,325.2 |
1,128.1 |
1,202.4 |
1,156.1 |
1,079.8 |
|
|
|
|
|
|
|
|
Land |
26.5 |
28.2 |
25.5 |
28.0 |
24.9 |
|
Building |
286.8 |
272.0 |
234.7 |
242.2 |
225.2 |
|
Machinery |
694.8 |
688.0 |
635.1 |
641.9 |
556.4 |
|
Hardware/Software |
231.9 |
225.1 |
219.7 |
213.9 |
203.9 |
|
Construction |
104.9 |
52.6 |
56.9 |
39.1 |
64.4 |
|
Depreciation |
-806.8 |
-764.6 |
-675.1 |
-656.3 |
-579.6 |
|
Goodwill |
665.6 |
665.6 |
665.6 |
665.6 |
665.6 |
|
Intangibles, Gross |
165.4 |
165.4 |
165.4 |
165.4 |
165.4 |
|
Accumulated Intangible Amortization |
-116.6 |
-110.5 |
-104.3 |
-98.2 |
-85.3 |
|
Other Assets |
171.9 |
165.2 |
192.3 |
219.5 |
42.0 |
|
Pension assets |
- |
- |
- |
- |
33.9 |
|
Deferred income taxes |
122.8 |
129.7 |
131.7 |
109.1 |
82.4 |
|
Total Assets |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
Current Portion of Long-term Debt |
- |
- |
- |
- |
0.0 |
|
Bank Borrowings overdrafts current |
133.9 |
76.8 |
102.0 |
152.5 |
- |
|
Bank Loans |
- |
- |
- |
- |
15.9 |
|
Accts. Payable |
200.2 |
161.0 |
115.0 |
131.0 |
111.7 |
|
Accrd. Payroll |
95.1 |
49.0 |
40.5 |
64.3 |
72.0 |
|
Deferred income taxes |
- |
- |
1.8 |
4.5 |
- |
|
Divs. Payable |
21.7 |
19.8 |
19.7 |
18.6 |
18.8 |
|
Income Taxes |
- |
- |
- |
- |
45.3 |
|
Restructuring and Other |
4.0 |
18.9 |
14.8 |
2.7 |
15.3 |
|
Workers compensation and general liabili |
20.1 |
21.1 |
22.4 |
28.9 |
- |
|
Interest payable |
17.6 |
18.0 |
21.6 |
19.8 |
11.1 |
|
Current pension and other retiree accrua |
- |
- |
7.0 |
15.5 |
- |
|
Rebates and incentives |
- |
- |
5.5 |
11.8 |
- |
|
Commissions and professional fees payabl |
- |
- |
7.5 |
9.8 |
- |
|
Other current liabilities |
168.5 |
119.8 |
93.5 |
84.0 |
156.9 |
|
Total Current Liabilities |
661.0 |
484.5 |
451.0 |
543.4 |
446.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
Total Long Term Debt |
787.7 |
934.7 |
1,153.7 |
1,060.2 |
791.4 |
|
|
|
|
|
|
|
|
Deferred Gain |
50.9 |
54.9 |
58.6 |
61.7 |
64.7 |
|
Retirement Liab. |
222.0 |
241.0 |
276.2 |
172.0 |
170.7 |
|
Noncontrolling interest |
3.7 |
2.9 |
7.5 |
- |
- |
|
Non-current liabilities |
147.8 |
157.8 |
229.7 |
271.9 |
100.1 |
|
Total Liabilities |
1,873.0 |
1,875.8 |
2,176.8 |
2,109.1 |
1,573.7 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Paid in Capital |
123.8 |
110.4 |
106.1 |
55.0 |
96.6 |
|
Retained Erngs. |
2,519.7 |
2,339.2 |
2,222.6 |
2,078.9 |
1,909.6 |
|
Cum. Trans. Adj. |
-74.8 |
-68.6 |
-149.8 |
-33.0 |
-31.9 |
|
Accumulated losses on derivatives qualif |
-4.2 |
-2.7 |
-3.8 |
-1.8 |
-2.5 |
|
Pension and postretirement liability adj |
-196.3 |
-199.6 |
-171.4 |
-109.5 |
-162.6 |
|
Pension |
- |
- |
- |
- |
0.0 |
|
Treasury Stock |
-1,383.2 |
-1,424.1 |
-1,445.0 |
-1,386.9 |
-918.7 |
|
Total Equity |
999.4 |
769.0 |
573.1 |
617.2 |
905.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,872.5 |
2,644.8 |
2,749.9 |
2,726.3 |
2,478.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
Total Common Shares Outstanding |
80.2 |
79.2 |
78.7 |
81.0 |
89.4 |
|
T/S-Common Stock |
35.6 |
36.6 |
37.1 |
34.8 |
26.3 |
|
Accumulated Intangible Amortization |
116.6 |
110.5 |
104.3 |
98.2 |
85.3 |
|
Full-Time Employees |
5,514 |
5,377 |
5,300 |
5,300 |
5,087 |
|
Number of Common Shareholders |
2,740 |
3,004 |
3,167 |
3,248 |
3,393 |
|
Long Term Debt Due Within 1 Year |
134.0 |
77.0 |
102.0 |
153.0 |
16.0 |
|
Long Term Debt Due Within 2 Years |
50.0 |
120.0 |
270.0 |
- |
- |
|
Long Term Debt Due Within 3 Years |
100.0 |
75.0 |
141.0 |
50.0 |
163.0 |
|
Long Term Debt Due Within 4 Years |
- |
100.0 |
100.0 |
- |
- |
|
Long Term Debt Due Within 5 Years |
- |
- |
- |
276.0 |
403.0 |
|
Long Term Debt Due After 5 Years |
625.0 |
625.0 |
625.0 |
734.0 |
225.0 |
|
Total Long Term Debt, Supplemental |
909.0 |
997.0 |
1,238.0 |
1,213.0 |
807.0 |
|
Operating Leases Due Within 1 Year |
25.0 |
28.0 |
26.0 |
24.0 |
23.0 |
|
Operating Leases Due Within 2 Years |
23.0 |
25.0 |
24.0 |
21.0 |
20.0 |
|
Operating Leases Due Within 3 Years |
21.0 |
22.0 |
21.0 |
20.0 |
19.0 |
|
Operating Leases Due Within 4 Years |
19.0 |
20.0 |
19.0 |
18.0 |
16.0 |
|
Operating Leases Due Within 5 Years |
18.0 |
17.0 |
17.0 |
16.0 |
16.0 |
|
Operating Leases Due After 5 Years |
18.0 |
184.0 |
179.0 |
194.0 |
209.0 |
|
Total Operating Leases |
124.0 |
296.0 |
286.0 |
293.0 |
303.0 |
|
Projected Benefit Obligation - U.S. |
440.6 |
0.4 |
404.9 |
395.0 |
378.7 |
|
FV of Plan Assets - U.S. |
347.1 |
0.3 |
248.2 |
349.2 |
336.1 |
|
Funded Status - U.S. |
-93.6 |
-0.1 |
-156.8 |
-45.7 |
-42.6 |
|
Projected Benefit Obligation - Non-U.S. |
625.1 |
0.6 |
499.0 |
661.4 |
681.0 |
|
FV of Plan Assets - Non-U.S. |
671.6 |
0.7 |
574.9 |
756.0 |
694.3 |
|
Funded Status - Non-U.S. |
46.5 |
0.0 |
75.9 |
94.7 |
13.3 |
|
Projected Benefit Obligation - Post-Ret. |
108.7 |
0.1 |
106.2 |
102.9 |
104.5 |
|
Funded Status - Post-Retirement |
-108.7 |
-0.1 |
-106.2 |
-102.9 |
-104.5 |
|
Accumulated Benefit Obligation - Post-Re |
- |
- |
- |
102.9 |
104.5 |
|
Accumulated Benefit Obligation - U.S. |
435.1 |
0.4 |
393.3 |
374.7 |
361.7 |
|
Accumulated Benefit Obligation -Non-U.S. |
598.0 |
0.6 |
475.2 |
628.7 |
646.8 |
|
Total Funded Status |
-155.8 |
-0.2 |
-187.0 |
-54.0 |
-133.8 |
|
Discount Rate - U.S. |
5.60% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Compensation Rate - U.S. |
3.25% |
3.25% |
3.50% |
4.00% |
3.75% |
|
Discount Rate - Non-U.S. |
5.37% |
5.66% |
6.11% |
5.78% |
4.95% |
|
Compensation Rate - Non-U.S. |
2.66% |
3.00% |
2.56% |
2.98% |
2.54% |
|
Discount Rate - Post-Retirement |
5.50% |
6.10% |
6.00% |
6.10% |
6.00% |
|
Current Liabilities - U.S. |
-3.3 |
-3.2 |
-2.7 |
-2.6 |
-2.5 |
|
Non Current Liabilities - U.S. |
-90.3 |
-98.8 |
-154.0 |
-43.1 |
-40.1 |
|
Non Current Assets - Non-U.S. |
66.3 |
61.9 |
98.8 |
111.4 |
33.9 |
|
Current Liabilities - Non-U.S. |
-0.6 |
-0.6 |
-0.6 |
-0.7 |
-0.6 |
|
Non Current Liabilities - Non-U.S. |
-19.2 |
-22.3 |
-22.3 |
-16.1 |
-20.0 |
|
Current Liabilities - Post-Retirement |
- |
- |
- |
- |
-3.3 |
|
Non Current Liabilities - Post-Retir. |
- |
- |
- |
- |
-101.2 |
|
AOCI-Actuarial Loss - U.S. |
129.9 |
126.0 |
153.8 |
41.7 |
50.6 |
|
AOCI-Prior Service Cost - U.S. |
2.0 |
2.5 |
3.0 |
3.0 |
9.8 |
|
AOCI-Actuarial Loss - Non-U.S. |
155.3 |
160.7 |
98.2 |
97.4 |
154.3 |
|
AOCI-Prior Service Cost - Non-U.S. |
0.0 |
0.1 |
0.6 |
1.4 |
1.9 |
|
AOCI-Transition Obligation - Non-U.S. |
- |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
AOCI-Actuarial Loss - Post-Ret. |
30.2 |
38.1 |
39.7 |
38.0 |
46.3 |
|
AOCI-Prior Service Cost - Post-Ret. |
-29.2 |
-33.9 |
-38.6 |
-21.0 |
-23.7 |
|
Net Assets Recognized on Balance Sheet |
241.3 |
230.6 |
175.7 |
209.4 |
105.5 |
|
Equity Securities % - U.S. |
64.00% |
60.00% |
70.00% |
76.00% |
74.00% |
|
Bonds % - U.S. |
36.00% |
40.00% |
7.00% |
7.00% |
12.00% |
|
Other Cash & ST Investments % - U.S. |
- |
- |
23.00% |
17.00% |
14.00% |
|
Equity Securities % - Non-U.S. |
31.00% |
30.00% |
25.00% |
34.00% |
39.00% |
|
Bonds % - Non-U.S. |
54.00% |
56.00% |
57.00% |
41.00% |
36.00% |
|
Real Estate % - Non-U.S. |
11.00% |
12.00% |
14.00% |
13.00% |
11.00% |
|
Other Cash & ST Investments % - Non-U.S. |
4.00% |
2.00% |
4.00% |
12.00% |
14.00% |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash/Equivalents |
123.4 |
112.0 |
131.3 |
114.9 |
110.6 |
|
Trade |
551.2 |
526.4 |
458.1 |
519.4 |
484.5 |
|
Doubtful Accounts. |
-5.6 |
-6.3 |
-6.3 |
-7.4 |
-8.5 |
|
Raw Materials |
284.3 |
286.7 |
270.2 |
267.5 |
237.3 |
|
Work in Process |
9.0 |
9.5 |
6.2 |
9.0 |
9.0 |
|
Finished Goods |
274.9 |
263.4 |
255.3 |
227.6 |
208.3 |
|
Deferred income taxes |
54.1 |
58.6 |
74.2 |
74.7 |
66.5 |
|
Prepaid expenses and other current asset |
148.0 |
137.4 |
136.2 |
122.6 |
116.0 |
|
Total Current Assets |
1,439.2 |
1,387.6 |
1,325.2 |
1,328.2 |
1,223.6 |
|
|
|
|
|
|
|
|
Premises & Equipment |
1,398.9 |
1,372.8 |
1,344.9 |
1,323.9 |
1,234.1 |
|
Depreciation |
-834.2 |
-821.8 |
-806.8 |
-818.2 |
-752.1 |
|
Deferred income taxes |
115.1 |
120.8 |
122.8 |
140.4 |
136.1 |
|
Goodwill and other intangibles, net |
665.6 |
665.6 |
665.6 |
665.6 |
665.6 |
|
Intangibles |
165.4 |
165.4 |
165.4 |
165.4 |
165.4 |
|
Accumulated Amortization |
-119.6 |
-118.1 |
-116.6 |
-115.1 |
-113.5 |
|
Other Assets |
178.2 |
174.2 |
171.9 |
174.1 |
167.6 |
|
Total Assets |
3,008.6 |
2,946.5 |
2,872.5 |
2,864.3 |
2,726.9 |
|
|
|
|
|
|
|
|
Bank borrowings and overdrafts, and curr |
216.3 |
185.1 |
133.9 |
137.9 |
48.7 |
|
Accounts Payable |
166.4 |
185.2 |
200.2 |
169.7 |
155.1 |
|
Accrued Payroll/Bonus |
44.9 |
40.5 |
95.1 |
84.2 |
59.6 |
|
Accrued taxes on income |
- |
- |
- |
42.6 |
29.2 |
|
Dividends Payable |
21.8 |
21.7 |
21.7 |
21.6 |
20.0 |
|
Restructuring |
1.1 |
2.8 |
4.0 |
5.8 |
19.3 |
|
Other current liabilities |
178.1 |
198.6 |
206.1 |
181.9 |
163.5 |
|
Total Current Liabilities |
628.7 |
634.0 |
661.0 |
643.6 |
495.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
767.4 |
787.0 |
787.7 |
810.7 |
934.6 |
|
Total Long Term Debt |
767.4 |
787.0 |
787.7 |
810.7 |
934.6 |
|
|
|
|
|
|
|
|
Noncontrolling interest |
4.1 |
4.3 |
3.7 |
3.7 |
3.3 |
|
Deferred Gain |
49.4 |
50.2 |
50.9 |
51.7 |
52.6 |
|
Retirement |
223.6 |
222.9 |
222.0 |
242.7 |
241.7 |
|
Other liabilities |
150.9 |
149.7 |
147.8 |
164.7 |
154.6 |
|
Total Liabilities |
1,824.0 |
1,848.0 |
1,873.0 |
1,917.2 |
1,882.1 |
|
|
|
|
|
|
|
|
Common Stock |
14.5 |
14.5 |
14.5 |
14.5 |
14.5 |
|
Paid in Capital |
123.6 |
125.4 |
123.8 |
106.7 |
100.5 |
|
Retained Earnings |
2,636.4 |
2,582.1 |
2,519.7 |
2,485.8 |
2,430.3 |
|
Trans. Adjustment |
-35.9 |
-46.0 |
-74.8 |
-63.2 |
-104.5 |
|
Accumulated gains on derivatives qualify |
-5.6 |
-6.2 |
-4.2 |
-8.0 |
-2.9 |
|
Pension and postretirement liability adj |
-188.6 |
-193.7 |
-196.3 |
-194.2 |
-196.2 |
|
Treasury stock, |
-1,359.7 |
-1,377.5 |
-1,383.2 |
-1,394.5 |
-1,396.9 |
|
Total Equity |
1,184.6 |
1,098.6 |
999.4 |
947.2 |
844.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
3,008.6 |
2,946.5 |
2,872.5 |
2,864.3 |
2,726.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
80.8 |
80.4 |
80.2 |
79.9 |
79.9 |
|
Total Common Shares Outstanding |
80.8 |
80.4 |
80.2 |
79.9 |
79.9 |
|
T/S-Common Stock |
34.9 |
35.4 |
35.6 |
35.8 |
35.9 |
|
Accumulated Intangible Amortization |
119.6 |
118.1 |
116.6 |
115.1 |
113.5 |
|
Current maturities |
216.3 |
185.1 |
- |
137.9 |
48.7 |
|
Total Long Term Debt, Supplemental |
216.3 |
185.1 |
- |
137.9 |
48.7 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
263.6 |
195.5 |
229.6 |
247.1 |
226.5 |
|
Depreciation |
79.2 |
78.5 |
76.0 |
82.8 |
89.7 |
|
Deferred Taxes |
-13.3 |
-17.4 |
7.3 |
-6.3 |
-12.4 |
|
Dispose Assets |
-3.7 |
-2.3 |
-2.2 |
-13.8 |
-22.8 |
|
Equity Based Compensation |
22.0 |
19.7 |
17.2 |
18.2 |
18.2 |
|
Curtailment loss |
- |
0.0 |
0.0 |
5.9 |
0.0 |
|
Current Receivables |
-12.1 |
-27.4 |
-39.9 |
-33.0 |
-27.2 |
|
Inventories |
-86.3 |
47.1 |
-19.7 |
-12.4 |
9.5 |
|
Current Payables |
116.8 |
56.7 |
-30.6 |
22.3 |
38.1 |
|
Changes in other assets |
-53.9 |
-85.8 |
-25.0 |
-2.1 |
-20.4 |
|
Changes in other liabilities |
2.8 |
27.0 |
7.8 |
5.3 |
-17.6 |
|
Cash from Operating Activities |
315.1 |
291.6 |
220.6 |
314.1 |
281.6 |
|
|
|
|
|
|
|
|
Proceeds from investments |
- |
0.0 |
0.0 |
10.5 |
0.0 |
|
Disposal of Assets |
1.7 |
1.8 |
2.8 |
17.0 |
27.2 |
|
Termination of net investment hedge |
1.7 |
-13.6 |
0.0 |
0.0 |
- |
|
Purch., ST Invest. |
-3.9 |
-2.2 |
-7.2 |
-13.2 |
-17.4 |
|
Capital Expenditure |
-106.3 |
-66.8 |
-85.4 |
-65.6 |
-58.3 |
|
Cash from Investing Activities |
-106.8 |
-80.9 |
-89.7 |
-51.4 |
-48.4 |
|
|
|
|
|
|
|
|
Dividends Paid |
-81.2 |
-78.8 |
-74.9 |
-76.6 |
-67.4 |
|
Bank Loans |
-103.2 |
-37.3 |
2.9 |
-129.6 |
-48.7 |
|
LT Debt., Net |
0.0 |
-201.1 |
-139.4 |
0.0 |
-499.3 |
|
Proceeds from issuance of stock under st |
26.2 |
7.0 |
7.4 |
50.1 |
110.9 |
|
Net proceeds from long-term debt |
0.0 |
0.0 |
139.2 |
498.6 |
373.6 |
|
Excess tax benefits on share-based payme |
1.4 |
0.0 |
0.1 |
6.6 |
4.7 |
|
Comm. Paper |
- |
- |
- |
- |
0.0 |
|
Treasury Stock |
0.0 |
-2.0 |
-30.0 |
-577.0 |
-271.0 |
|
Cash from Financing Activities |
-156.7 |
-312.2 |
-94.7 |
-228.0 |
-397.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.4 |
3.1 |
-9.2 |
2.3 |
6.0 |
|
Net Change in Cash |
51.2 |
-98.3 |
27.0 |
37.0 |
-158.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
80.1 |
178.5 |
151.5 |
114.5 |
272.5 |
|
Net Cash - Ending Balance |
131.3 |
80.1 |
178.5 |
151.5 |
114.5 |
|
Cash Interest Paid |
54.1 |
70.8 |
87.3 |
36.0 |
31.7 |
|
Cash Taxes Paid |
70.8 |
58.1 |
50.3 |
60.4 |
79.4 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income |
160.2 |
84.0 |
263.6 |
208.0 |
130.9 |
|
Depreciation |
37.4 |
18.0 |
79.2 |
60.1 |
40.2 |
|
Deferred Taxes |
27.2 |
17.9 |
-13.3 |
-40.7 |
-14.7 |
|
Disposal of Assets |
-1.6 |
-0.8 |
-3.7 |
-3.0 |
-1.8 |
|
Pension settlement/curtailment |
3.6 |
- |
- |
- |
0.0 |
|
Equity Based Compensation |
15.9 |
6.3 |
22.0 |
16.7 |
10.8 |
|
Current Receivables |
-73.2 |
-55.6 |
-12.1 |
-60.9 |
-53.8 |
|
Inventories |
-14.1 |
-11.9 |
-86.3 |
-53.2 |
-30.4 |
|
Current Payables |
-137.5 |
-93.1 |
116.8 |
92.8 |
58.6 |
|
Other assets |
-13.5 |
9.1 |
-53.9 |
-22.2 |
-21.8 |
|
Other liabilities |
-2.2 |
-8.9 |
2.8 |
10.6 |
9.7 |
|
Cash from Operating Activities |
2.1 |
-34.9 |
315.1 |
208.3 |
127.6 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-45.7 |
-19.4 |
-106.3 |
-53.6 |
-37.0 |
|
Purchase of investments |
-1.4 |
-0.2 |
-3.9 |
-3.6 |
-2.4 |
|
Termination of net investment hedge |
1.0 |
- |
1.7 |
1.7 |
1.7 |
|
Asset Disposal |
0.4 |
0.1 |
1.7 |
1.5 |
1.4 |
|
Cash from Investing Activities |
-45.7 |
-19.4 |
-106.8 |
-54.0 |
-36.4 |
|
|
|
|
|
|
|
|
Dividends Paid |
-43.3 |
-21.7 |
-81.2 |
-59.6 |
-39.6 |
|
Net Change in Bank Borrowings & Overdraf |
59.1 |
51.6 |
-103.2 |
-76.1 |
-33.6 |
|
Decrease in LTD |
- |
- |
0.0 |
0.0 |
- |
|
Proceeds from issuance of stock under st |
13.2 |
3.5 |
26.2 |
17.1 |
14.7 |
|
Excess tax benefits on stock-based payme |
5.1 |
0.8 |
1.4 |
- |
0.0 |
|
Treasury Stock |
- |
- |
0.0 |
0.0 |
0.0 |
|
Net proceeds from long-term debt |
- |
- |
0.0 |
- |
- |
|
Cash from Financing Activities |
34.0 |
34.2 |
-156.7 |
-118.6 |
-58.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
1.7 |
0.8 |
-0.4 |
-1.0 |
-2.3 |
|
Net Change in Cash |
-7.9 |
-19.4 |
51.2 |
34.8 |
30.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
131.3 |
131.3 |
80.1 |
80.1 |
80.1 |
|
Net Cash - Ending Balance |
123.4 |
112.0 |
131.3 |
114.9 |
110.6 |
|
Cash Interest Paid |
27.2 |
26.3 |
54.1 |
53.1 |
26.6 |
|
Cash Taxes Paid |
38.1 |
20.3 |
70.8 |
45.9 |
30.7 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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Business Segments
Financials in: As Reported (mil)
|
Annual |
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Business Segments
Financials in: As Reported (mil)
|
Interim |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.17 |
|
UK Pound |
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.