Cardinal Health 2009 Annual Report Download - page 85

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CARDINAL HEALTH, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
Fiscal Year Ended June 30,
2009 2008 2007
(In millions, except per common share amounts)
Revenue ................................................ $99,512.4 $90,975.5 $86,755.0
Cost of products sold ...................................... 93,986.0 85,395.8 81,557.6
Gross margin ............................................ 5,526.4 5,579.7 5,197.4
Selling, general and administrative expenses ................... 3,438.3 3,390.1 3,061.3
Impairments, (gain)/loss on sale of assets and other, net .......... 25.0 (32.0) 17.3
Special items—restructuring charges ......................... 164.3 65.7 40.1
—acquisition integration charges .................. 14.5 44.9 101.5
—litigation and other ........................... (1.4) 19.5 630.4
Operating earnings ....................................... 1,885.7 2,091.5 1,346.8
Interest expense and other .................................. 218.7 169.4 120.6
Earnings before income taxes and discontinued operations ........ 1,667.0 1,922.1 1,226.2
Provision for income taxes ................................. 524.2 626.1 405.5
Earnings from continuing operations ......................... 1,142.8 1,296.0 820.7
Earnings from discontinued operations (net of tax expense of $8.6,
$39.7 and $27.6 for fiscal years ended June 30, 2009, 2008 and
2007) respectively) ..................................... 8.8 4.6 1,110.4
Net earnings ............................................. $ 1,151.6 $ 1,300.6 $ 1,931.1
Basic earnings per Common Share:
Continuing operations ................................. $ 3.20 $ 3.62 $ 2.08
Discontinued operations ............................... 0.02 0.01 2.81
Net basic earnings per Common Share .................... $ 3.22 $ 3.63 $ 4.89
Diluted earnings per Common Share:
Continuing operations ................................. $ 3.16 $ 3.56 $ 2.03
Discontinued operations ............................... 0.02 0.01 2.74
Net diluted earnings per Common Share .................. $ 3.18 $ 3.57 $ 4.77
Weighted average number of shares outstanding:
Basic .............................................. 357.6 358.2 394.9
Diluted ............................................. 361.5 364.0 404.7
The accompanying notes are an integral part of these consolidated statements.
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