Lexmark 2011 Annual Report Download - page 73
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Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Lexmark International, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
For the years ended December 31, 2011, 2010 and 2009
(In Millions, Except Per Share Amounts)
2011 2010 2009
Revenue .................................................. $4,173.0 $4,199.7 $3,879.9
Cost of revenue ............................................. 2,592.4 2,680.2 2,570.1
Gross profit ........................................... 1,580.6 1,519.5 1,309.8
Research and development ................................... 374.5 369.0 375.3
Selling, general and administrative ............................. 761.2 701.2 647.8
Restructuring and related charges ............................. 2.0 2.4 70.6
Operating expense ..................................... 1,137.7 1,072.6 1,093.7
Operating income ...................................... 442.9 446.9 216.1
Interest (income) expense, net ................................ 29.9 26.3 21.4
Other (income) expense, net .................................. (0.6) (1.2) 4.6
Net impairment losses on securities ............................ — 0.3 3.1
Earnings before income taxes ........................... 413.6 421.5 187.0
Provision for income taxes .................................... 92.7 81.5 41.1
Net earnings ........................................... $ 320.9 $ 340.0 $ 145.9
Net earnings per share:
Basic ................................................. $ 4.16 $ 4.33 $ 1.87
Diluted ................................................ $ 4.12 $ 4.28 $ 1.86
Shares used in per share calculation:
Basic ................................................. 77.1 78.6 78.2
Diluted ................................................ 77.9 79.5 78.6
Cash dividends declared per common share .................. $ 0.25 $ — $ —
See notes to consolidated financial statements.
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