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Newell Rubbermaid Inc. 2008 Annual Report
40
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
Year Ended December 31, 2008 2007 2006
Net sales $6,470.6 $6,407.3 $6,201.0
Cost of products sold 4,347.4 4,150.1 4,131.0
Gross margin 2,123.2 2,257.2 2,070.0
Selling, general and administrative expenses 1,502.7 1,430.9 1,347.0
Impairment charges 299.4 — —
Restructuring costs 120.3 86.0 66.4
Operating income 200.8 740.3 656.6
Nonoperating expenses:
Interest expense, net of interest income of $8.9, $13.9, and
$6.8 in 2008, 2007, and 2006, respectively 137.9 104.1 132.0
Other expense, net 61.1 7.3 9.7
Net nonoperating expenses 199.0 111.4 141.7
Income from continuing operations before income taxes 1.8 628.9 514.9
Income taxes 53.6 149.7 44.2
(Loss) income from continuing operations (51.8) 479.2 470.7
Loss from discontinued operations, net of tax (0.5) (12.1) (85.7)
Net (loss) income $ (52.3) $ 467.1 $ 385.0
Weighted average shares outstanding:
Basic 277.0 276.0 274.6
Diluted 277.0 286.1 275.5
Per common share:
Basic:
(Loss) income from continuing operations $ (0.19) $ 1.74 $ 1.71
Loss from discontinued operations — (0.04) (0.31)
Net (loss) income $ (0.19) $ 1.69 $ 1.40
Diluted:
(Loss) income from continuing operations $ (0.19) $ 1.72 $ 1.71
Loss from discontinued operations — (0.04) (0.31)
Net (loss) income $ (0.19) $ 1.68 $ 1.40
Dividends per share $ 0.84 $ 0.84 $ 0.84
See Notes to Consolidated Financial Statements.