Mead Johnson Nutrition Co (MJN) [Rocket]

In millions, except per share items	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Asia	1,856.9	2,039.0	2,278.4	2,179.3	1,967.0	1,827.8
North America/Europe	1,242.1	1,275.2	1,263.4	1,160.0	1,181.8	1,229.8	1,190.6
Latin America	643.7	757.1	867.5	861.4	752.5	619.4
Asia/Latin America							1,951.0	1,625.5
Other								1,201.0
Total revenues	3,742.7	4,071.3	4,409.3	4,200.7	3,901.3	3,677.0	3,141.6	2,826.5
Revenue growth [+]	-8.1%	-7.7%	5.0%	7.7%	6.1%	17.0%	11.1%	-1.9%
Asia	-8.9%	-10.5%	4.5%	10.8%	7.6%
North America/Europe	-2.6%	0.9%	8.9%	-1.8%	-3.9%	3.3%
Latin America	-15.0%	-12.7%	0.7%	14.5%	21.5%
Asia/Latin America							20.0%	7.2%
Cost of goods sold	1,341.0	1,455.3	1,700.6	1,528.5	1,503.8	1,362.3	1,149.6	974.7
Gross profit	2,401.7	2,616.0	2,708.7	2,672.2	2,397.5	2,314.7	1,992.0	1,851.8
Gross margin	64.2%	64.3%	61.4%	63.6%	61.5%	63.0%	63.4%	65.5%
Selling, general and administrative [+]	1,393.5	1,532.4	1,617.6	1,548.6	1,457.3	1,428.5	1,201.4	1,067.2
Sales and marketing	627.0	641.8	638.7	645.1	552.8	501.7	438.7	401.9
General and administrative	766.5	890.6	978.9	903.5	904.5	926.8	762.7	665.3
Research and development	97.4	108.4	115.1	100.2	100.1	92.5	78.5	71.9
Other operating expenses	92.1	39.0	-12.3	48.5	6.5	19.6	29.2	33.1
EBITDA [+]	918.3	1,035.3	1,079.9	1,058.0	910.5		747.6	738.5
EBITDA growth	-11.3%	-4.1%	2.1%	16.2%	17.6%	3.5%	1.2%	-1.2%
EBITDA margin	24.5%	25.4%	24.5%	25.2%	23.3%	21.1%	23.8%	26.1%
Depreciation	85.3	83.7	75.9	63.7	55.8	-18.1	54.6	50.3
EBITA	833.0	951.6	1,004.0	994.3	854.7	792.2	693.0	688.2
EBITA margin	22.3%	23.4%	22.8%	23.7%	21.9%	21.5%	22.1%	24.3%
Amortization of intangibles	14.3	15.4	15.7	19.4	21.1	18.1	10.1	8.6
EBIT [+]	818.7	936.2	988.3	974.9	833.6	774.1	682.9	679.6
EBIT growth	-12.6%	-5.3%	1.4%	17.0%	7.7%	13.4%	0.5%	-2.3%
EBIT margin	21.9%	23.0%	22.4%	23.2%	21.4%	21.1%	21.7%	24.0%
Interest expense, net [+]	92.1	55.4	50.7	42.0	59.1	44.2	44.0	89.3
Interest expense	105.4	65.0	60.3	50.6	65.0	52.2	48.6	92.6
Interest income	13.3	9.6	9.6	8.6	5.9	8.0	4.6	3.3
Other income (expense), net	-13.3	-9.6	-9.6	-8.6	-4.2	-8.0	-4.6	-3.3
Pre-tax income	713.3	871.2	928.0	924.3	770.3	721.9	634.3	587.0
Income taxes	164.0	215.9	199.2	235.1	182.0	202.9	176.1	176.4
Tax rate	23.0%	24.8%	21.5%	25.4%	23.6%	28.1%	27.8%	30.1%
Minority interest	4.4	1.8	9.0	5.4	7.9	10.5	5.5	11.0
Net income	544.9	653.5	719.8	683.8	580.4	508.5	452.7	399.6
Net margin	14.6%	16.1%	16.3%	16.3%	14.9%	13.8%	14.4%	14.1%

Basic EPS [+]	$2.94	$3.28	$3.56	$3.38	$2.85	$2.49	$2.21	$1.99
Growth	-10.5%	-7.8%	5.4%	18.5%	14.5%	12.5%	11.0%	-14.0%
Diluted EPS [+]	$2.93	$3.28	$3.55	$3.37	$2.84	$2.48	$2.21	$1.99
Growth	-10.5%	-7.7%	5.5%	18.5%	14.5%	12.4%	10.9%	-14.1%

Dividends per share [+]	$1.65	$1.65	$1.50	$1.36	$1.20	$1.04	$0.90	$0.70
Growth	0.0%	10.0%	10.3%	13.3%	15.4%	15.6%	28.6%

Shares outstanding (basic) [+]	185.5	199.0	202.1	202.4	203.6	204.3	204.7	200.6
Growth	-6.8%	-1.5%	-0.1%	-0.6%	-0.3%	-0.2%	2.0%	18.0%
Shares outstanding (diluted) [+]	185.8	199.4	202.7	203.1	204.3	205.0	205.1	200.7
Growth	-6.8%	-1.6%	-0.2%	-0.6%	-0.3%	0.0%	2.2%	18.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.