Morningstar Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,446	2,275	2,039	1,871	1,699
Revenue Growth (YoY)	7.49%	11.60%	8.98%	10.08%	22.30%
Cost of Revenue	952.9	895.7	843.5	779.3	698.4
Gross Profit	1,493	1,379	1,195	1,091	1,001
Selling, General & Admin	796.5	768.2	779.6	731	593.2
Operating Expenses	986.4	958.6	964.5	897.6	743.9
Operating Income	506.2	420.8	230.6	193.7	257
Interest Expense	-40	-49.9	-51.7	-28.4	-8.7
Interest & Investment Income	11.4	12.2	-	-	-
Earnings From Equity Investments	-3.3	-17.4	-19.2	-3.6	5.4
Currency Exchange Gain (Loss)	1	-1.1	14.4	-6.7	-3.7
EBT Excluding Unusual Items	475.3	364.6	174.1	155	250
Merger & Restructuring Charges	-4.5	-	-	-25.9	-
Gain (Loss) on Sale of Investments	-	-	-	-2.1	5.9
Gain (Loss) on Sale of Assets	22.7	109.3	-	-	-
Other Unusual Items	2.2	-	-	-	-
Pretax Income	495.7	473.9	174.1	127	255.9
Income Tax Expense	121.5	104	33	56.5	62.6
Earnings From Continuing Operations	374.2	369.9	141.1	70.5	193.3
Net Income	374.2	369.9	141.1	70.5	193.3
Net Income to Common	374.2	369.9	141.1	70.5	193.3
Net Income Growth	1.16%	162.16%	100.14%	-63.53%	-13.55%
Shares Outstanding (Basic)	42	43	43	43	43
Shares Outstanding (Diluted)	42	43	43	43	43
Shares Change (YoY)	-2.09%	0.47%	-	-1.15%	0.46%
EPS (Basic)	8.93	8.64	3.31	1.65	4.50
EPS (Diluted)	8.87	8.58	3.29	1.64	4.45
EPS Growth	3.38%	160.79%	100.61%	-63.15%	-14.09%
Free Cash Flow	442.6	448.9	197.3	168.3	348.1
Free Cash Flow Per Share	10.49	10.41	4.60	3.92	8.02
Dividend Per Share	1.865	1.670	1.530	1.460	1.310
Dividend Growth	11.68%	9.15%	4.79%	11.45%	7.38%
Gross Margin	61.03%	60.63%	58.62%	58.34%	58.90%
Operating Margin	20.70%	18.50%	11.31%	10.36%	15.12%
Profit Margin	15.30%	16.26%	6.92%	3.77%	11.38%
Free Cash Flow Margin	18.10%	19.73%	9.68%	9.00%	20.48%
EBITDA	593.4	516.3	334.3	296	347.8
EBITDA Margin	24.27%	22.69%	16.40%	15.82%	20.47%
D&A For EBITDA	87.2	95.5	103.7	102.3	90.8
EBIT	506.2	420.8	230.6	193.7	257
EBIT Margin	20.70%	18.50%	11.31%	10.36%	15.12%
Effective Tax Rate	24.51%	21.95%	18.95%	44.49%	24.46%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.