Lexmark 2013 Annual Report Download - page 62

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58
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Lexmark International, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
For the years ended December 31, 2013, 2012, and 2011
(In Millions, Except Per Share Amounts)
2013 2012 2011
Revenue:
Product $ 3,242.3 $ 3,447.5 $ 3,856.9
Service 425.3 350.1 316.1
Total Revenue 3,667.6 3,797.6 4,173.0
Cost of revenue:
Product 1,880.3 2,064.0 2,339.2
Service 321.9 284.0 265.2
Restructuring-related costs 21.5 47.8 4.5
Total Cost of revenue 2,223.7 2,395.8 2,608.9
Gross profit 1,443.9 1,401.8 1,564.1
Research and development 287.2 369.1 405.9
Selling, general and administrative 810.1 805.1 788.5
Gain on sale of inkjet-related technology and assets (73.5) – –
Restructuring and related charges 10.9 36.1 2.0
Operating expense 1,034.7 1,210.3 1,196.4
Operating income 409.2 191.5 367.7
Interest expense (income), net 33.0 29.6 29.9
Other expense (income), net 4.5 (0.5) (0.6)
Loss on extinguishment of debt 3.3 – –
Earnings before income taxes 368.4 162.4 338.4
Provision for income taxes 106.6 54.8 63.2
Net earnings $ 261.8 $ 107.6 $ 275.2
Net earnings per share:
Basic $ 4.16 $ 1.57 $ 3.57
Diluted $ 4.08 $ 1.55 $ 3.53
Shares used in per share calculation:
Basic 63.0 68.6 77.1
Diluted 64.1 69.5 77.9
Cash dividends declared per common share $ 1.20 $ 1.15 $ 0.25
See notes to consolidated financial statements.
58