Black & Decker 2011 Annual Report Download - page 61
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49
Consolidated Statements of Operations
Fiscal years ended December 31, 2011, January 1, 2011, and January 2, 2010
(In Millions of Dollars, except per share amounts)
2011
2010
2009
Net Sales ..................................................................................................................................
$ 10,376.4
$ 8,343.9
$ 3,682.6
Costs and Expenses
Cost of sales .............................................................................................................................
$ 6,582.9
$ 5,409.1
$ 2,190.2
Selling, general and administrative ..........................................................................................
2,536.0
2,142.8
1,002.2
Provision for doubtful accounts ...............................................................................................
15.9
10.6
13.6
Other-net ..................................................................................................................................
277.5
199.1
138.4
Restructuring charges and asset impairments ..........................................................................
71.0
241.9
38.8
Gain on debt extinguishment ...................................................................................................
—
—
(43.8)
Interest income .........................................................................................................................
(27.0
)
(9.3) (3.1)
Interest expense ........................................................................................................................
140.3
109.9
63.7
$ 9,596.6
$ 8,104.1
$ 3,400.0
Earnings from continuing operations before income taxes ......................................................
779.8
239.8
282.6
Income taxes on continuing operations ....................................................................................
88.6
37.7
55.0
Earnings from continuing operations .......................................................................................
$ 691.2
$ 202.1
$ 227.6
Less: Net (loss) earnings attributable to non-controlling interests ...........................................
(0.1
)
—
2.0
Net earnings from continuing operations attributable to common shareowners
......................
691.3
202.1
225.6
Loss from discontinued operations before income taxes .........................................................
(16.5
)
(2.6) (5.0)
Income taxes (benefit) on discontinued operations ..................................................................
0.2
1.3
(3.7)
Net loss from discontinued operations
.....................................................................................
$ (16.7
)
$ (3.9) $ (1.3)
Net Earnings Attributable to Common Shareowners .........................................................
$ 674.6
$ 198.2
$ 224.3
Basic earnings (loss) per share of common stock:
Continuing operations ....................................................................................................
$ 4.16
$ 1.37
$ 2.82
Discontinued operations .................................................................................................
(0.10
)
(0.03) (0.01)
Total basic earnings per share of common stock ..................................................
$ 4.06
$ 1.34
$ 2.81
Diluted earnings (loss) per share of common stock:
Continuing operations ....................................................................................................
$ 4.06
$ 1.35
$ 2.81
Discontinued operations .................................................................................................
(0.10
)
(0.03) (0.01)
Total diluted earnings per share of common stock ...............................................
$ 3.97
$ 1.32
$ 2.79
See Notes to Consolidated Financial Statements.