Lexmark 2013 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2013 Lexmark annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

LEXMARK INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In Millions, Except Per Share Amounts)
Year Ended December 31, 2011
As Previously
Reported
Effect of Accounting
Change
As Adjusted for
Accounting Change
Revenue:
Product $ 3,856.9 $ – $ 3,856.9
Service 316.1 – 316.1
Total Revenue 4,173.0 – 4,173.0
Cost of revenue:
Product 2,321.5 17.7 2,339.2
Service 266.4 (1.2) 265.2
Restructuring-related costs 4.5 – 4.5
Total Cost of revenue 2,592.4 16.5 2,608.9
Gross profit 1,580.6 (16.5) 1,564.1
Research and development 374.5 31.4 405.9
Selling, general and administrative 761.2 27.3 788.5
Restructuring and related charges 2.0 – 2.0
Operating expense 1,137.7 58.7 1,196.4
Operating income (loss) 442.9 (75.2) 367.7
Interest expense (income), net 29.9 – 29.9
Other expense (income), net (0.6) – (0.6)
Earnings (loss) before income taxes 413.6 (75.2) 338.4
Provision for income taxes 92.7 (29.5) 63.2
Net earnings $ 320.9 $ (45.7) $ 275.2
Net earnings per share:
Basic $ 4.16 $ (0.59) $ 3.57
Diluted $ 4.12 $ (0.59) $ 3.53
Shares used in per share calculation:
Basic 77.1 77.1
Diluted 77.9 77.9
Cash dividends declared per common share $ 0.25 $ 0.25
73