Emerson 2009 Annual Report Download - page 50

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Emerson 200948
ELEVEN-YEAR SUMMARY

Years ended September 30 | Dollars in millions, except per share amounts or where noted
    2009 2008 2007
Summary of Net sales $20,915 24,807 22,131
Operations Gross profit $ 7,699 9,139 8,065
Interest expense $ 244 244 261
Earnings from continuing operations $ 1,724 2,454 2,129
Percent of net sales 8.2% 9.9% 9.6%
Net earnings $ 1,724 2,412 2,136
Operating cash flow $ 3,086 3,293 3,016
Return on average stockholders' equity 19.5% 27.0% 25.2%
Per Share of Diluted:
Common Stock Earnings from continuing operations $ 2.27 3.11 2.65
Net earnings $ 2.27 3.06 2.66
Cash dividends $ 1.32 1.20 1.05
Book value $ 11.38 11.82 11.13
Year-End Operating working capital $ 1,714 2,202 1,915
Financial Percent of net sales 8.2% 8.9% 8.5%
Position Property, plant and equipment, net $ 3,500 3,507 3,431
Total assets $19,763 21,040 19,680
Long-term debt $ 3,998 3,297 3,372
Stockholders' equity $ 8,555 9,113 8,772
Total debt to capital 34.8% 33.1% 30.1%
Net debt to net capital 25.7% 22.7% 23.6%
Other Data Capital expenditures $ 531 714 681
Depreciation $ 543 557 525
Total taxes, including income taxes $ 1,269 1,749 1,541
Salaries and wages $ 4,205 4,447 4,081
Average number of employees 129,000 140,700 137,700
Approximate number of stockholders of record at year end 26,315 26,445 26,615
Average common shares - diluted (in thousands) 758,703 789,416 803,864
Note: All share and per share data reect the 2007 two-for-one stock split.
See Note 3 for information regarding the Company’s acquisition and divestiture activities. Discontinued operations include: European appliance motor
and pump business for 1999-2008, Brooks for 2008 only and Dura-Line for 2000-2003.
(a) Includes a tax expense of $63 ($0.07 per share) related to the one-time opportunity to repatriate foreign earnings under the American Jobs Creation
Act of 2004.
(b) Includes the cumulative effect of a change in accounting principle of $938 ($1.12 per share).
(c) Before change in accounting principle.
(d) Includes a $377 charge ($260 after-tax, or $0.31 per share), of which $358 ($248 after-tax, or $0.29 per share) was reported in continuing
operations, primarily for the disposition of facilities and exiting of product lines.