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Newell Rubbermaid Inc. 2008 Annual Report
18
SELECTED FINANCIAL DATA
The following is a summary of certain consolidated financial information relating to the Company as of and for the year ended December 31, (in millions,
except per share data). The summary has been derived in part from, and should be read in conjunction with, the Consolidated Financial Statements of the
Company included elsewhere in this report and the schedules thereto.
2008 (1) 2007 (1) 2006 (1) 2005 2004
STATEMENTS OF OPERATIONS DATA
Net sales $6,470.6 $6,407.3 $6,201.0 $5,717.2 $5,707.1
Cost of products sold 4,347.4 4,150.1 4,131.0 3,959.1 4,050.6
Gross margin 2,123.2 2,257.2 2,070.0 1,758.1 1,656.5
Selling, general and administrative expenses 1,502.7 1,430.9 1,347.0 1,117.7 1,050.1
Impairment charges 299.4 — — 0.4 264.0
Restructuring costs (2) 120.3 86.0 66.4 72.6 28.2
Operating income 200.8 740.3 656.6 567.4 314.2
Nonoperating expenses:
Interest expense, net 137.9 104.1 132.0 127.1 119.3
Other expense (income), net 61.1 7.3 9.7 (23.1) (3.0)
Net nonoperating expenses 199.0 111.4 141.7 104.0 116.3
Income from continuing operations before income taxes 1.8 628.9 514.9 463.4 197.9
Income taxes 53.6 149.7 44.2 57.1 92.9
(Loss) income from continuing operations (51.8) 479.2 470.7 406.3 105.0
Loss from discontinued operations, net of tax (0.5) (12.1) (85.7) (155.0) (221.1)
Net (loss) income $ (52.3) $ 467.1 $ 385.0 $ 251.3 $ (116.1)
Weighted average shares outstanding:
Basic 277.0 276.0 274.6 274.4 274.4
Diluted 277.0 286.1 275.5 274.9 274.7
Per common share:
Basic:
(Loss) income from continuing operations $ (0.19) $ 1.74 $ 1.71 $ 1.48 $ 0.38
Loss from discontinued operations — (0.04) (0.31) (0.56) (0.81)
Net (loss) income $ (0.19) $ 1.69 $ 1.40 $ 0.92 $ (0.42)
Diluted:
(Loss) income from continuing operations $ (0.19) $ 1.72 $ 1.71 $ 1.48 $ 0.38
Loss from discontinued operations — (0.04) (0.31) (0.56) (0.80)
Net (loss) income $ (0.19) $ 1.68 $ 1.40 $ 0.91 $ (0.42)
Dividends $ 0.84 $ 0.84 $ 0.84 $ 0.84 $ 0.84
BALANCE SHEET DATA
Inventories, net $ 912.1 $ 940.4 $ 850.6 $ 793.8 $ 813.2
Working capital (3) 187.9 87.9 580.3 675.3 1,141.1
Total assets 6,792.5 6,682.9 6,310.5 6,446.1 6,669.5
Short-term debt, including current portion of long-term debt 761.0 987.5 277.5 166.8 206.9
Long-term debt, net of current portion 2,118.3 1,197.4 1,972.3 2,429.7 2,424.3
Stockholders’ equity $1,614.2 $2,247.3 $1,890.2 $1,643.2 $1,764.2
(1) Supplemental data regarding 2008, 2007 and 2006 is provided in Management’s Discussion and Analysis of Financial Condition and Results of Operations.
(2) The restructuring costs include facility and other exit costs, employee severance and termination benefits, employee relocation costs, and costs associated with exited contractual
commitments and other restructuring costs.
(3) Working capital is defined as Current Assets less Current Liabilities.