Kraft 2014 Annual Report Download - page 39

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Kraft Foods Group, Inc.
Consolidated Statements of Earnings
(in millions of U.S. dollars, except per share data)
See accompanying notes to the consolidated financial statements.
34
For the Years Ended
December 27,
2014 December 28,
2013 December 29,
2012
Net revenues $ 18,205 $18,218 $18,271
Cost of sales 13,360 11,395 12,499
Gross profit 4,845 6,823 5,772
Selling, general and administrative expenses 2,956 2,124 2,961
Asset impairment and exit costs (1 ) 108 141
Operating income 1,890 4,591 2,670
Interest and other expense, net (484) (501 ) (258 )
Royalty income from MondelƝz International — — 41
Earnings before income taxes 1,406 4,090 2,453
Provision for income taxes 363 1,375 811
Net earnings $ 1,043 $2,715 $1,642
Per share data:
Basic earnings per share $ 1.75 $4.55 $2.77
Diluted earnings per share $ 1.74 $4.51 $2.75
Dividends declared $ 2.15 $2.05 $0.50