ADT 2014 Annual Report Download - page 132
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FORM 10-K
THE ADT CORPORATION
CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS
Fiscal Years Ended September 26, 2014, September 27, 2013 and September 28, 2012
(in millions, except per share data)
2014 2013 2012
Revenue ............................................................. $3,408 $3,309 $3,228
Cost of revenue ........................................................ 1,457 1,378 1,374
Selling, general and administrative expenses ................................. 1,231 1,173 1,125
Radio conversion costs (See Note 1) ....................................... 44 — —
Separation costs (See Note 1) ............................................. 17 23 7
Operating income ................................................. 659 735 722
Interest expense, net .................................................... (192) (117) (92)
Other (expense) income ................................................. (35) 24 —
Income before income taxes ........................................ 432 642 630
Income tax expense .................................................... (128) (221) (236)
Net income ........................................................... $ 304 $ 421 $ 394
Net income per share:
Basic ................................................................ $ 1.67 $ 1.90 $ 1.70
Diluted .............................................................. $ 1.66 $ 1.88 $ 1.67
Weighted-average number of shares:
Basic ................................................................ 182 222 232
Diluted .............................................................. 183 224 236
See Notes to Consolidated and Combined Financial Statements
66