Estee Lauder 2013 Annual Report Download - page 140
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YEAR ENDED JUNE 30 2013 2012 2011
(In millions, except per share data)
Net Sales $10,181.7 $9,713.6 $8,810.0
Cost of Sales 2,025.9 1,995.8 1,936.9
Gross Profit 8,155.8 7,717.8 6,873.1
Operating expenses
Selling, general and administrative 6,597.0 6,324.8 5,696.7
Restructuring and other charges 15.1 59.6 49.0
Goodwill impairment 9.6 — 29.3
Impairment of other intangible assets 8.1 21.7 8.7
Total operating expenses 6,629.8 6,406.1 5,783.7
Operating Income 1,526.0 1,311.7 1,089.4
Interest expense, net 54.8 61.1 63.9
Interest expense on debt extinguishment 19.1 — —
Other income 23.1 10.5 —
Earnings before Income Taxes 1,475.2 1,261.1 1,025.5
Provision for income taxes 451.4 400.6 321.7
Net Earnings 1,023.8 860.5 703.8
Net earnings attributable to noncontrolling interests (4.0) (3.6) (3.0)
Net Earnings Attributable to The Estée Lauder Companies Inc. $ 1,019.8 $ 856.9 $ 700.8
Net earnings attributable to The Estée Lauder Companies Inc.
per common share
Basic $ 2.63 $ 2.20 $ 1.78
Diluted $ 2.58 $ 2.16 $ 1.74
Weighted-average common shares outstanding
Basic 387.6 388.7 394.0
Diluted 394.9 397.0 402.4
Cash dividends declared per common share $ 1.08 $ .525 $ .375
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See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF EARNINGS
138 THE EST{E LAUDER COMPANIES INC.