Emerson 2011 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2011 Emerson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 58

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58

Annual Report | 25
CONSOLIDATED STATEMENTS OF EARNINGS
2009 2010 2011
Net sales $20,102 21,039 24,222
Costs and expenses:
Cost of sales 12,542 12,713
14,665
Selling, general and administrative expenses 4,416 4,817 5,328
Other deductions, net 474 369 375
Interest expense, net of interest income: 2009, $24; 2010, $19; 2011, $23 220 261 223
Earnings from continuing operations before income taxes 2,450 2,879 3,631
Income taxes 688 848 1,127
Earnings from continuing operations 1,762 2,031 2,504
Discontinued operations, net of tax: 2009, $5; 2010, $153; 2011, $30 9 186 26
Net earnings 1,771 2,217 2,530
Less: Noncontrolling interests in earnings of subsidiaries 47 53 50
Net earnings common stockholders $ 1,724 2,164 2,480
Earnings common stockholders:
Earnings from continuing operations $ 1,715 1,978 2,454
Discontinued operations, net of tax 9 186 26
Net earnings common stockholders $ 1,724 2,164 2,480
Basic earnings per share common stockholders:
Earnings from continuing operations $ 2.27 2.62 3.26
Discontinued operations 0.02 0.25 0.03
Basic earnings per common share $ 2.29 2.87 3.29
Diluted earnings per share common stockholders:
Earnings from continuing operations $ 2.26 2.60 3.24
Discontinued operations 0.01 0.24 0.03
Diluted earnings per common share $ 2.27 2.84 3.27
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts
See accompanying Notes to Consolidated Financial Statements.