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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
CONSOLIDATED STATEMENTS OF EARNINGS
Year Ended December 31
(Dollars in millions, except per-share amounts) 2015 2014 2013
Revenue:
Products $20,280 $19,564 $19,100
Services 11,189 11,288 11,830
31,469 30,852 30,930
Operating costs and expenses:
Products 15,871 15,335 15,065
Services 9,468 9,644 10,137
General and administrative (G&A) 1,952 1,984 2,039
27,291 26,963 27,241
Operating earnings 4,178 3,889 3,689
Interest, net (83) (86) (86)
Other, net 7 (1) 8
Earnings from continuing operations before income tax 4,102 3,802 3,611
Provision for income tax, net 1,137 1,129 1,125
Earnings from continuing operations 2,965 2,673 2,486
Discontinued operations, net of tax benefit of $7 in 2015, $16 in 2014 and $73 in 2013 – (140) (129)
Net earnings $ 2,965 $ 2,533 $ 2,357
Earnings per share
Basic:
Continuing operations $ 9.23 $ 7.97 $ 7.09
Discontinued operations – (0.41) (0.37)
Net earnings $ 9.23 $ 7.56 $ 6.72
Diluted:
Continuing operations $ 9.08 $ 7.83 $ 7.03
Discontinued operations – (0.41) (0.36)
Net earnings $ 9.08 $ 7.42 $ 6.67
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
36 General Dynamics Annual Report 2015