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24 ENERGIZER HOLDINGS, INC. 2008 Annual Report
Consolidated Statements of Earnings and Comprehensive Income
(Dollars in millions, except per share data)
Statement of Earnings
YEARS ENDED SEPTEMBER 30, 2008 2007 2006
Net sales $4,331.0 $3,365.1 $3,076.9
Cost of products sold 2,293.3 1,760.4 1,596.1
Gross profit 2,037.7 1,604.7 1,480.8
Selling, general and administrative expense 794.0 627.9 601.9
Advertising and promotion expense 486.8 395.2 368.9
Research and development expense 91.7 70.7 74.2
Interest expense 181.3 91.2 77.9
Other financing expense/(income), net 10.7 (14.5) 1.3
Earnings before income taxes 473.2 434.2 356.6
Income taxes 143.9 112.8 95.7
Net earnings $ 329.3 $ 321.4 $ 260.9
Earnings Per Share
Basic net earnings per share $ 5.71 $ 5.67 $ 4.26
Diluted net earnings per share $ 5.59 $ 5.51 $ 4.14
Statement of Comprehensive Income
Net earnings $ 329.3 $ 321.4 $ 260.9
Other comprehensive income, net of tax
Foreign currency translation adjustments 3.8 73.9 29.4
Pension/Postretirement activity, net of tax of $(17.8) in 2008, $8.9 in 2007 and $1.3 in 2006 (46.5) 20.5 1.7
Deferred gain/(loss) on hedging activity, net of tax of $1.7 in 2008 and $(4.7) in 2007 3.8 (10.6) –
Comprehensive income $ 290.4 $ 405.2 $ 292.0
The above financial statements should be read in conjunction with the Notes To Consolidated Financial Statements.