Lexmark 2013 Annual Report Download - page 75

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LEXMARK INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In Millions, Except Per Share Amounts)
Year Ended December 31, 2013
Historical Accounting
Method
Effect of Accounting
Change As Reported
Revenue:
Product $ 3,242.3 $ – $ 3,242.3
Service 425.3 – 425.3
Total Revenue 3,667.6 – 3,667.6
Cost of revenue:
Product 1,903.1 (22.8) 1,880.3
Service 323.5 (1.6) 321.9
Restructuring-related costs 21.5 – 21.5
Total Cost of revenue 2,248.1 (24.4) 2,223.7
Gross profit 1,419.5 24.4 1,443.9
Research and development 336.2 (49.0) 287.2
Selling, general and administrative 852.4 (42.3) 810.1
Gain on sale of inkjet-related technology and assets (73.5) – (73.5)
Restructuring and related charges 10.9 – 10.9
Operating expense 1,126.0 (91.3) 1,034.7
Operating income 293.5 115.7 409.2
Interest expense (income), net 33.0 – 33.0
Other expense (income), net 4.5 – 4.5
Loss on extinguishment of debt 3.3 – 3.3
Earnings before income taxes 252.7 115.7 368.4
Provision for income taxes 62.1 44.5 106.6
Net earnings $ 190.6 $ 71.2 $ 261.8
Net earnings per share:
Basic $ 3.02 $ 1.14 $ 4.16
Diluted $ 2.97 $ 1.11 $ 4.08
Shares used in per share calculation:
Basic 63.0 63.0
Diluted 64.1 64.1
Cash dividends declared per common share $ 1.20 $ 1.20
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