Black & Decker 2014 Annual Report Download - page 32

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18
ITEM 6. SELECTED FINANCIAL DATA
The Black & Decker merger and other significant acquisitions made by the Company during the five-year period presented
below affect comparability of results. Refer to Note E, Acquisitions, of the Notes to Consolidated Financial Statements for
further information. Additionally, as detailed in Note T, Discontinued Operations, of the Notes to Consolidated Financial
Statements, and prior year 10-K filings, the results in 2010 through 2014 were recast for certain discontinued operations for
comparability (in millions, except per share amounts):
2014 (a) 2013 (b) 2012 (c) 2011 (d) 2010 (e)
Continuing Operations:
Net sales ..................................................................... $ 11,339 $ 10,890 $ 10,022 $ 9,332 $ 7,438
Net earnings from continuing operations attributable
to common shareowners............................................. $ 857 $ 520 $ 458 $ 612 $ 151
Net (loss) earnings from discontinued operations...... $ (96)$ (30) $ 426 $ 63 $ 47
Net earnings attributable to common shareowners .... $ 761 $ 490 $ 884 $ 675 $ 198
Basic earnings (loss) per share:
Continuing operations ................................................ $ 5.49 $ 3.35 $ 2.81 $ 3.69 $ 1.03
Discontinued operations (f)........................................ $ (0.62)$ (0.19) $ 2.61 $ 0.38 $ 0.32
Total basic earnings per share .................................... $ 4.87 $ 3.16 $ 5.41 $ 4.06 $ 1.34
Diluted earnings (loss) per share:
Continuing operations ................................................ $ 5.37 $ 3.28 $ 2.75 $ 3.60 $ 1.01
Discontinued operations (f)........................................ $ (0.60)$ (0.19) $ 2.55 $ 0.37 $ 0.31
Total diluted earnings per share.................................. $ 4.76 $ 3.09 $ 5.30 $ 3.97 $ 1.32
Percent of net sales (Continuing operations):
Cost of sales ............................................................... 63.8% 64.2% 63.5% 63.1% 64.1%
Selling, general and administrative (g) ...................... 22.9% 24.7% 24.7% 25.2% 26.7%
Other-net..................................................................... 2.1% 2.6% 3.0% 2.7% 2.5%
Interest, net ................................................................. 1.4% 1.4% 1.3% 1.2% 1.4%
Earnings before income taxes .................................... 9.6% 5.4% 5.3% 7.1% 2.3%
Net earnings from continuing operations attributable
to common shareowners............................................. 7.6% 4.8% 4.6% 6.6% 2.0%
Balance sheet data:
Total assets ................................................................. $ 15,849 $ 16,535 $ 15,844 $ 15,949 $ 15,139
Long-term debt........................................................... $ 3,840 $ 3,799 $ 3,527 $ 2,926 $ 3,018
Stanley Black & Decker, Inc.’s Shareowners’ Equity $ 6,429 $ 6,799 $ 6,667 $ 7,004 $ 7,017
Ratios:.........................................................................
Total debt to total capital............................................ 37.4% 38.2% 34.7% 33.0% 32.9%
Income tax rate — continuing operations .................. 20.9% 11.7% 14.2% 8.2% 11.0%
Common stock data:
Dividends per share.................................................... $ 2.04 $ 1.98 $ 1.80 $ 1.64 $ 1.34
Equity per share at year-end....................................... $ 41.34 $ 43.73 $ 43.19 $ 42.84 $ 42.18
Market price per share — high................................... $ 97.36 $ 92.36 $ 81.34 $ 77.29 $ 67.29
Market price per share — low.................................... $ 75.64 $ 73.97 $ 59.25 $ 47.83 $ 49.58
Average shares outstanding (in 000’s):
Basic ........................................................................... 156,090 155,237 163,067 165,832 147,224
Diluted........................................................................ 159,737 158,776 166,701 170,105 150,167
Other information:
Average number of employees................................... 50,375 49,445 45,327 44,309 36,939
Shareowners of record at end of year......................... 10,932 11,235 11,285 11,643 11,964