International Paper 2014 Annual Report Download - page 51

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15
ITEM 6. SELECTED FINANCIAL DATA
FIVE-YEAR FINANCIAL SUMMARY (a)
Dollar amounts in millions, except per
share amounts and stock prices 2014 2013 2012 2011 2010
RESULTS OF OPERATIONS
Net sales $ 23,617 $ 23,483 $ 21,852 $ 19,464 $ 18,496
Costs and expenses, excluding interest 22,138 21,643 20,214 17,528 17,169
Earnings (loss) from continuing
operations before income taxes and
equity earnings 872 (b) 1,228 (e) 967 (h) 1,395 (k) 719 (n)
Equity earnings (loss), net of taxes (200) (39) 61 140 111
Discontinued operations, net of taxes (13) (c) (309) (f) 77 (i) 82 (l) 65 (o)
Net earnings (loss) 536 (b-d) 1,378 (e-g) 799 (h-j) 1,336 (k-m) 712 (n-p)
Noncontrolling interests, net of taxes (19) (17) 5 14 21
Net earnings (loss) attributable to
International Paper Company 555 (b-d) 1,395 (e-g) 794 (h-j) 1,322 (k-m) 691 (n-p)
FINANCIAL POSITION
Current assets less current liabilities $ 3,050 $3,898 $ 3,907 $ 5,718 $ 3,525
Plants, properties and equipment, net 12,728 13,672 13,949 11,817 12,002
Forestlands 507 557 622 660 747
Total assets 28,684 31,528 32,153 27,018 25,409
Notes payable and current maturities of
long-term debt 742 661 444 719 313
Long-term debt 8,631 8,827 9,696 9,189 8,358
Total shareholders’ equity 5,115 8,105 6,304 6,645 6,875
BASIC EARNINGS PER SHARE
ATTRIBUTABLE TO INTERNATIONAL
PAPER COMPANY COMMON
SHAREHOLDERS
Earnings (loss) from continuing
operations $1.33 $3.85 $
1.65 $ 2.87 $1.46
Discontinued operations (0.03) (0.70) 0.17 0.19 0.15
Net earnings (loss) 1.30 3.15 1.82 3.06 1.61
DILUTED EARNINGS PER SHARE
ATTRIBUTABLE TO INTERNATIONAL
PAPER COMPANY COMMON
SHAREHOLDERS
Earnings (loss) from continuing
operations $1.31 $3.80 $
1.63 $ 2.84 $1.44
Discontinued operations (0.02) (0.69) 0.17 0.19 0.15
Net earnings (loss) 1.29 3.11 1.80 3.03 1.59
Cash dividends 1.4500 1.2500 1.088 0.975 0.400
Total shareholders’ equity 12.18 18.57 14.33 15.21 15.71
COMMON STOCK PRICES
High $ 55.73 $50.33 $ 39.88 $ 33.01 $ 29.25
Low 44.24 39.47 27.29 21.55 19.33
Year-end 53.58 49.03 39.84 29.60 27.24
FINANCIAL RATIOS
Current ratio 1.6 1.8 1.8 2.2 1.8
Total debt to capital ratio 0.65 0.54 0.62 0.60 0.56
Return on shareholders’ equity 7.7% (b-d) 20.2% (e-g) 11.6%(h-j) 17.9%(k-m) 11.4%(n-p)
CAPITAL EXPENDITURES $ 1,366 $1,198 $ 1,383 $1,159 $775
NUMBER OF EMPLOYEES 58,000 64,000 65,000 56,000 53,000