Energizer 2004 Annual Report Download - page 24

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ENR 2004 Annual Report
22
STATEMENT OF EARNI NGS
YEAR ENDED SEPTEMBER 30, 2004 2003 2002
Net sales $ 2,812.7 $ 2,232.5 $ 1,739.7
Cost of products sold 1,404.0 1,274.2 963.8
Selling, general and administrative expense 542.1 382.8 314.7
Advertising and promotion expense 403.3 251.0 124.5
Research and development expense 74.0 51.5 37.1
Intellectual property rights income (1.5) (8.5) –
Interest expense 30.8 28.2 21.1
Other financing items, net 2.0 15.7 0.1
Earnings before income taxes 358.0 237.6 278.4
Income taxes (90.6) (67.7) (92.0)
Net earnings $ 267.4 $ 169.9 $ 186.4
EARNI NGS PER SHARE
Basic net earnings per share $ 3.32 $ 1.98 $ 2.05
Diluted net earnings per share $ 3.21 $ 1.93 $ 2.01
STATEMENT OF COMPREHENSIVE INCOME
Net earnings $ 267.4 $ 169.9 $ 186.4
Other comprehensive income, net of tax
Foreign currency translation adjustments 29.6 36.6 3.3
Minimum pension liability change, net of tax of $2.9 in 2004, $3.1 in 2003 and $0.3 in 2002 (6.2) (8.1) (0.6)
Comprehensive income $ 290.8 $ 198.4 $ 189.1
The above financial statement should be read in conjunction with the Notes to Consolidated Financial Statements.
ENERGI ZER HOLDINGS, INC.
CONSOLIDATED STATEMENT OF EARNINGS AND COMPREHENSIVE INCOME
(Dollars in millions, except per share data)