ROCKWELL COLLINS INC (COL) [Rocket]

In millions, except per share items	Sep-30-18	Sep-30-17	Sep-30-16	Sep-30-15	Sep-30-14	Sep-30-13	Sep-30-12	Sep-30-11
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Interior Systems	2,709	1,302
Government Systems	2,631	2,384	2,206	2,187	2,209	2,259	2,396	2,813
Commercial Systems	2,580	2,418	2,395	2,434	2,299	2,170	2,092	1,993
Information Management Services	745	718	658	623	471	45	43
Total revenues [+]	8,665	6,822	5,259	5,244	4,979	4,474	4,531	4,806
Products	7,643	5,885	4,411	4,438	4,309	4,230	4,294
Services	1,022	937	848	806	670	244	237
Revenue growth [+]	27.0%	29.7%	0.3%	5.3%	11.3%	-1.3%	-5.7%	3.8%
Interior Systems	108.1%
Government Systems	10.4%	8.1%	0.9%	-1.0%	-2.2%	-5.7%	-14.8%	-1.7%
Commercial Systems	6.7%	1.0%	-1.6%	5.9%	5.9%	3.7%	5.0%	12.6%
Information Management Services	3.8%	9.1%	5.6%	32.3%	946.7%	4.7%
U.S. Government	-8.0%	-24.2%	13.8%
Cost of goods sold [+]	6,382	4,868	3,642	3,630	3,469	3,103	3,168	3,427
Cost of product sales	5,699	4,237	3,045	3,064	3,001	2,936	2,997
Cost of services	683	631	597	566	468	167	171
Gross profit	2,283	1,954	1,617	1,614	1,510	1,371	1,363	1,379
Gross margin	26.3%	28.6%	30.7%	30.8%	30.3%	30.6%	30.1%	28.7%
Selling, general and administrative	817	732	638	606	594	495	530	533
Research and development							316	355
Other operating expenses	511	-5	120	115	-25	-17	-407	-381
EBITDA [+]	1,159	1,395	1,003	1,045	1,082	1,017	1,040	980
EBITDA growth	-16.9%	39.1%	-4.0%	-3.4%	6.4%	-2.2%	6.1%	6.2%
EBITDA margin	13.4%	20.4%	19.1%	19.9%	21.7%	22.7%	23.0%	20.4%
Depreciation	-86	6	84	99	93	96	80	72
EBITA	1,245	1,389	919	946	989	921	960	908
EBITA margin	14.4%	20.4%	17.5%	18.0%	19.9%	20.6%	21.2%	18.9%
Amortization of intangibles	290	162	60	53	48	28	36	36
EBIT [+]	955	1,227	859	893	941	893	924	872
EBIT growth	-22.2%	42.8%	-3.8%	-5.1%	5.4%	-3.4%	6.0%	7.9%
EBIT margin	11.0%	18.0%	16.3%	17.0%	18.9%	20.0%	20.4%	18.1%
Non-recurring items	112	120					65
Interest expense, net [+]	13	5	8	7	59	28	27	14
Interest expense	13	5	8	7	59	28	27	19
Interest income								5
Other income (expense), net	282	-171	84	76				-3
Pre-tax income	1,112	931	935	962	882	865	832	855
Income taxes	80	226	208	268	264	235	243	240
Tax rate	7.2%	24.3%	22.2%	27.9%	29.9%	27.2%	29.2%	28.1%
Net income	1,032	705	728	1,380	1,222	632	609	634
Net margin	11.9%	10.3%	13.8%	26.3%	24.5%	14.1%	13.4%	13.2%

Basic EPS [+]	$6.29	$4.85	$5.58	$10.43	$9.05	$4.63	$4.19	$4.11
Growth	29.9%	-13.1%	-46.5%	15.3%	95.4%	10.5%	1.9%	15.1%
Diluted EPS [+]	$6.22	$4.79	$5.51	$10.32	$8.94	$4.58	$4.15	$4.06
Growth	30.0%	-13.1%	-46.6%	15.5%	95.3%	10.3%	2.1%	15.3%

Dividends per share [+]	$1.32	$1.32	$1.32	$1.26	$1.20	$1.20	$1.08	$0.96
Growth	0.0%	0.0%	4.8%	5.0%	0.0%	11.1%	12.5%	0.0%

Shares outstanding (basic) [+]	164	146	131	132	135	137	145	154
Growth	12.7%	11.5%	-1.4%	-2.1%	-1.0%	-6.1%	-5.8%	-1.8%
Shares outstanding (diluted) [+]	166	147	132	134	137	138	147	156
Growth	12.6%	11.4%	-1.2%	-2.2%	-1.0%	-5.9%	-6.0%	-1.9%

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