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• | Total Net Sales Increased 13% and Adjusted Constant Currency Net Sales Increased 15% in both Q4 and Full Year 2015 |
• | Adjusted Organic Constant Currency Net Sales Increased 9.5% in Full Year 2015 |
• | Adjusted Total Operating Income Increased 30% in Q4 and 24% in Full Year 2015, Reflecting Continued Operating Margin Expansion |
• | Adjusted Diluted Earnings per Share Increased 31% in Q4 to $0.36 and 19% in Full Year 2015 to $1.19, Excluding China Joint Venture Investments |
• | Forecasting Full Year 2016 Adjusted Diluted Earnings Per Share of $1.33 to $1.37 and $1.38 to $1.42 on a Constant Currency Basis, Excluding China Joint Venture Investments |
• | Expecting High Single-Digit Organic Constant Currency Net Sales Growth for Full Year 2016 |
Financial Summary: | Three Months Ended December 31, | Year Ended December 31, | |||||||||
In millions, except EPS | 2015 | 2014 | % Change* | 2015 | 2014 | % Change* | |||||
Total Net Sales | |||||||||||
Reported | $1,028 | $911 | +13% | $3,866 | $3,437 | +13% | |||||
Adjusted | $1,028 | $911 | +13% | $3,867 | $3,437 | +13% | |||||
Adjusted Constant Currency | $1,046 | $911 | +15% | $3,964 | $3,437 | +15% | |||||
Adjusted Organic Constant Currency | $985 | $911 | +8% | $3,763 | $3,437 | +9% | |||||
Total Operating Income | |||||||||||
Reported | $92 | $72 | +27% | $332 | $267 | +25% | |||||
Adjusted | $114 | $87 | +30% | $375 | $304 | +24% | |||||
Adjusted Constant Currency | $117 | $87 | +34% | $389 | $304 | +28% | |||||
Net Income | |||||||||||
Reported | $48 | $33 | +46% | $168 | $140 | +20% | |||||
Adjusted | $62 | $44 | +42% | $201 | $169 | +19% | |||||
Adjusted, excluding China J.V. | $65 | $49 | +33% | $214 | $179 | +20% | |||||
Diluted Earnings per Share (EPS) | |||||||||||
Reported | $0.26 | $0.18 | +45% | $0.94 | $0.79 | +19% | |||||
Adjusted | $0.34 | $0.24 | +40% | $1.12 | $0.95 | +18% | |||||
Adjusted, excluding China J.V. | $0.36 | $0.27 | +31% | $1.19 | $1.00 | +19% | |||||
Adj. Constant Currency, excluding China J.V. | $0.37 | $0.27 | +36% | $1.24 | $1.00 | +24% | |||||
EBITDA | |||||||||||
Adjusted | $149 | $115 | +29% | $508 | $428 | +19% | |||||
Adjusted, excluding China J.V. | $152 | $120 | +26% | $522 | $439 | +19% | |||||
Adj. Constant Currency, excluding China J.V. | $156 | $120 | +30% | $542 | $439 | +23% | |||||
*Certain change percentages may not recalculate using the rounded dollar amounts provided |
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