General Dynamics 2013 Annual Report Download - page 39

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
Year Ended December 31
(Dollars in millions, except per-share amounts) 2011 2012 2013
Revenues:
Products $ 21,440 $ 19,784 $ 19,371
Services 11,237 11,729 11,847
32,677 31,513 31,218
Operating costs and expenses:
Products 17,230 16,228 15,296
Services 9,591 10,182 10,158
Goodwill impairment – 1,994 –
General and administrative (G&A) 2,030 2,276 2,079
28,851 30,680 27,533
Operating earnings 3,826 833 3,685
Interest, net (141) (156) (86)
Other, net 33 (136) 8
Earnings from continuing operations before income taxes 3,718 541 3,607
Provision for income taxes, net 1,166 873 1,121
Earnings (loss) from continuing operations 2,552 (332) 2,486
Discontinued operations, net of tax (26) – (129)
Net earnings (loss) $ 2,526 $ (332) $ 2,357
Earnings (loss) per share
Basic:
Continuing operations $ 7.01 $ (0.94) $ 7.09
Discontinued operations (0.07) – (0.37)
Net earnings (loss) $ 6.94 $ (0.94) $ 6.72
Diluted:
Continuing operations $ 6.94 $ (0.94) $ 7.03
Discontinued operations (0.07) – (0.36)
Net earnings (loss) $ 6.87 $ (0.94) $ 6.67
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
General Dynamics Annual Report 2013 35