Emerson 2011 Annual Report Download - page 52

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50 | 2011 Emerson
ELEVEN-YEAR SUMMARY
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts or where noted
2011 2010 2009
Summary of Net sales $24,222 21,039 20,102
Operations Gross profit $ 9,557 8,326 7,560
Interest expense $ 246 280 244
Earnings from continuing operations common stockholders $ 2,454 1,978 1,715
Percent of net sales 10.1% 9.4% 8.5%
Net earnings common stockholders $ 2,480 2,164 1,724
Operating cash flow $ 3,233 3,292 3,086
Return on average common stockholders' equity 24.6% 23.6% 19.5%
Per Share of Diluted EPS – Earnings from continuing operations $ 3.24 2.60 2.26
Common Stock Diluted EPS – Net earnings $ 3.27 2.84 2.27
Cash dividends $ 1.38 1.34 1.32
Book value $ 14.07 13.01 11.38
Year-End Operating working capital $ 1,705 1,402 1,714
Financial Percent of net sales 7.0% 6.7% 8.2%
Position Property, plant and equipment, net $ 3,437 3,287 3,500
Total assets $23,861 22,843 19,763
Long-term debt $ 4,324 4,586 3,998
Common stockholders' equity $10,399 9,792 8,555
Total debt to total capital 33.3% 34.1% 34.8%
Net debt to net capital 23.2% 26.2% 25.7%
Other Data Capital expenditures $ 647 524 531
Depreciation $ 522 562 543
Total taxes, including income taxes $ 1,774 1,416 1,269
Salaries and wages $ 4,583 4,330 4,205
Average number of employees 133,200 127,700 129,000
Approximate number of common stockholders of record at year end 23,765 24,755 26,315
Average common shares - diluted (in thousands) 753,489 756,989 758,703
Note: All share and per share data reflect the 2007 two-for-one stock split.
See Note 3 for information regarding the Company’s acquisition and divestiture activities.
Discontinued operations include: heating elements unit for 2011 only, appliance motors and U.S. commercial and industrial motors businesses for 2001-
2010, LANDesk for 2010 only, European appliance motor and pump business for 2001-2008, Brooks for 2008 only and Dura-Line for 2001-2003.
(a) Includes 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 product lines.