Kraft 2012 Annual Report Download - page 47

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Kraft Foods Group, Inc.
Consolidated Statements of Earnings
(in millions of dollars, except per share data)
For the Years Ended
December 29,
2012
December 31,
2011
December 31,
2010
Net revenues $ 18,339 $ 18,655 $ 17,797
Cost of sales 12,499 12,813 11,777
Gross profit 5,840 5,842 6,020
Selling, general and administrative expenses 3,029 3,016 3,063
Asset impairment and exit costs 141 (2) (8)
Operating income 2,670 2,828 2,965
Interest and other expense, net (258) (7) (6)
Royalty income from Mondele¯z International 41 55 43
Earnings from continuing operations before income taxes 2,453 2,876 3,002
Provision for income taxes 811 1,101 1,112
Earnings from continuing operations 1,642 1,775 1,890
Earnings and gain from discontinued operations, net of income taxes - - 1,644
Net earnings $ 1,642 $ 1,775 $ 3,534
Per share data:
Basic earnings per share:
Continuing operations $ 2.77 $ 3.00 $ 3.20
Discontinued operations - - 2.78
Net earnings $ 2.77 $ 3.00 $ 5.98
Diluted earnings per share:
Continuing operations $ 2.75 $ 3.00 $ 3.20
Discontinued operations - - 2.78
Net earnings $ 2.75 $ 3.00 $ 5.98
Dividends declared $ 0.50 $ - $ -
See notes to consolidated financial statements.
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