Black & Decker 2015 Annual Report Download - page 32

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18
ITEM 6. SELECTED FINANCIAL DATA
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 in Item 8 and prior year 10-K filings for further
information.
(Millions of Dollars) 2015 2014 2013 (a) 2012 (b) 2011 (c)
Continuing Operations:
Net sales.............................................................................. $ 11,172 $ 11,339 $ 10,890 $ 10,022 $ 9,332
Net earnings from continuing operations attributable to
common shareowners.......................................................... $ 904 $ 857 $ 520 $ 458 $ 612
Net (loss) earnings from discontinued operations (d)......... $ (20) $(96) $ (30) $ 426 $ 63
Net earnings attributable to common shareowners............. $ 884 $ 761 $ 490 $ 884 $ 675
Basic earnings (loss) per share:
Continuing operations......................................................... $ 6.10 $ 5.49 $ 3.35 $ 2.81 $ 3.69
Discontinued operations (d)................................................ $ (0.14) $(0.62) $ (0.19) $ 2.61 $ 0.38
Total basic earnings per share............................................. $ 5.96 $ 4.87 $ 3.16 $ 5.41 $ 4.06
Diluted earnings (loss) per share:
Continuing operations......................................................... $ 5.92 $ 5.37 $ 3.28 $ 2.75 $ 3.60
Discontinued operations (d)................................................ $ (0.13) $(0.60) $ (0.19) $ 2.55 $ 0.37
Total diluted earnings per share.......................................... $ 5.79 $ 4.76 $ 3.09 $ 5.30 $ 3.97
Percent of net sales (Continuing operations):
Cost of sales ........................................................................ 63.6% 63.8% 64.2% 63.5% 63.1%
Selling, general and administrative (e) ............................... 22.3% 22.9% 24.7% 24.7% 25.2%
Other-net ............................................................................. 2.0% 2.1% 2.6% 3.0% 2.7%
Interest, net.......................................................................... 1.5% 1.4% 1.4% 1.3% 1.2%
Earnings before income taxes ............................................. 10.3% 9.6% 5.4% 5.3% 7.1%
Net earnings from continuing operations attributable to
common shareowners.......................................................... 8.1% 7.6% 4.8% 4.6% 6.6%
Balance sheet data:
Total assets.......................................................................... $ 15,172 $ 15,849 $ 16,535 $ 15,844 $ 15,949
Long-term debt.................................................................... $ 3,837 $ 3,840 $ 3,799 $ 3,527 $ 2,926
Stanley Black & Decker, Inc.’s Shareowners’ Equity......... $ 5,812 $ 6,429 $ 6,799 $ 6,667 $ 7,004
Ratios: .................................................................................
Total debt to total capital..................................................... 39.8% 37.4% 38.2% 34.7% 33.0%
Income tax rate - continuing operations.............................. 21.6% 20.9% 11.7% 14.2% 8.2%
Common stock data:
Dividends per share............................................................. $ 2.14 $ 2.04 $ 1.98 $ 1.80 $ 1.64
Equity per share at year-end................................................ $ 39.08 $ 41.34 $ 43.73 $ 43.19 $ 42.84
Market price per share - high .............................................. $ 110.17 $ 97.36 $ 92.36 $ 81.34 $ 77.29
Market price per share - low ............................................... $ 90.51 $ 75.64 $ 73.97 $ 59.25 $ 47.83
Average shares outstanding (in 000’s):
Basic.................................................................................... 148,234 156,090 155,237 163,067 165,832
Diluted................................................................................. 152,706 159,737 158,776 166,701 170,105
Other information:
Average number of employees............................................ 51,815 50,375 49,445 45,327 44,309
Shareowners of record at end of year.................................. 10,603 10,932 11,235 11,285 11,643
(a) The Company's 2013 results include $390 million of pre-tax charges related to merger and acquisition-related charges,
as well as the charges associated with the extinguishment of debt during the fourth quarter of 2013. As a result of these
charges, net earnings attributable to common shareowners were reduced by $270 million (or $1.70 per diluted share).
As a percentage of Net sales, Cost of sales was 27 basis points higher, Selling, general & administrative was 125 basis
points higher, Other-net was 47 basis points higher, Earnings before income taxes was 358 basis points lower, and Net