Emerson 2014 Annual Report Download - page 60

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2014 Emerson > 56
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts or where noted
2014 2013 2012
Summary of Net sales $24,537 24,669 24,412
Operations Gross profit $10,158 9,952 9,768
Interest expense, net $ 194 218 241
Earnings from continuing operations common stockholders $ 2,147a 2,004a 1,968a
Percent of net sales 8.7% 8.1% 8.1%
Net earnings common stockholders $ 2,147a 2,004a 1,968a
Operating cash flow $ 3,692 3,649 3,053
Return on common stockholders' equity 20.7%a 19.2%a 19.0%a
Per Share of Diluted EPS – Earnings from continuing operations $ 3.03a 2.76a 2.67a
Common Stock Diluted EPS – Net earnings $ 3.03a 2.76a 2.67a
Cash dividends $ 1.72 1.64 1.60
Book value $ 14.53 14.98 14.22
Year-End Operating working capital $ 1,729 1,686 2,132
Financial Percent of net sales 7.0% 6.8% 8.7%
Position Property, plant and equipment, net $ 3,802 3,605 3,509
Total assets $24,177 24,711 23,818
Long-term debt $ 3,559 4,055 3,787
Common stockholders' equity $10,119 10,585 10,295
Total debt to total capital 37.3% 34.8% 34.0%
Net debt to net capital 22.1% 18.3% 22.1%
Other Data Capital expenditures $ 767 678 665
Depreciation $ 518 521 505
Total taxes, including income taxes $ 1,856 1,821 1,745
Salaries and wages $ 4,961 4,967 4,856
Average number of employees 115,100 131,600 134,900
Approximate number of common stockholders of record 20,901 21,898 22,960
Weighted-average common shares – diluted (in thousands) 704,071 722,912 734,618
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 for the last three years. In 2010, the Company acquired Chloride
Group PLC and Avocent Corporation. At acquisition, the combined annual sales for these businesses were approximately $960, and actual sales of $373 were
included in 2010 from their dates of acquisition. The divested U.S. Motors business with annual sales of approximately $820 was classified as discontinued
operations in 2009 and 2010.
a – 2014 includes a goodwill impairment charge of $508 ($0.72 per share); 2013 includes goodwill impairment and income tax charges totaling $566
($0.78 per share); 2012 includes a goodwill impairment charge of $528 ($0.72 per share).
ELEVEN-YEAR SUMMARY