Lexmark 2015 Annual Report Download - page 30

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Item 6. SELECTED FINANCIAL DATA
The table below summarizes recent financial information for the Company. For further information refer to the Company’s
Consolidated Financial Statements and Notes thereto presented under Part II, Item 8 of this Form 10-K.
(Dollars in Millions, Except per Share Data)
2015
2014
2013
2012
2011
Statement of Earnings Data(1):
Revenue (2)
$
3,551.2
$
3,710.5
$
3,667.6
$
3,797.6
$
4,173.0
Operating (loss) income (2)(3)
$
(24.5)
$
149.2
$
409.2
$
191.5
$
367.7
Net (loss) earnings (2)(3)(4)(5)(6)
$
(40.4)
$
79.9
$
259.1
$
110.9
$
280.9
Net (loss) earnings per common share:
Basic (2)(3)(4)(5)(6)
$
(0.66)
$
1.29
$
4.11
$
1.62
$
3.64
Diluted (2)(3)(4)(5)(6)
$
(0.66)
$
1.26
$
4.04
$
1.60
$
3.60
Cash dividends declared per common
share
$
1.44
$
1.38
$
1.20
$
1.15
$
0.25
Statement of Financial Position
Data(1)(7):
Total assets
$
3,912.4
$
3,684.5
$
3,664.5
$
3,569.8
$
3,644.4
Total debt
$
1,061.3
$
696.5
$
695.7
$
648.0
$
647.1
(1) In conjunction with the remediation efforts to resolve the material weakness disclosed in the Company’s 2014 Form 10-K, the Company identified errors related to
the income tax provision and related to current tax, deferred tax and unrecognized tax benefits accounts that impacted the Company’s previously issued interim and
annual consolidated financial statements. Refer to Part II, Item 8, Note 1 of the Notes to Consolidated Financial Statements for more information on the revision.
The amounts included in the table above reflect the revised balances for net (loss) earnings, basic and diluted (loss) earnings per share and total assets. Previously
reported total assets for 2013 and 2012 of $3,616.9 million and $3,525.3 million, respectively, were impacted by adjustments of $47.6 million and $44.5 million,
respectively, due to the revision to correct errors related to income taxes and the early adoption of accounting guidance related to the presentation of debt issuance
costs. Total assets for December 31, 2015 were calculated on a different basis and may not be comparable to prior years due to the prospective application of new
guidance related to the classification of deferred taxes. Refer to Part II, Item 8, Note 2 of the Notes to Consolidated Financial Statements for additional information.
(2) Refer to Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations — Acquisition-Related Adjustments and Part II,
Item 8, Note 4 of the Notes to Consolidated Financial Statements for more information on the Company’s acquisitions and pre-tax charges related to amortization
of intangible assets and other acquisition-related costs and integration expenses for 2015, 2014 and 2013. Refer to Part II, Item 8, Note 4 of the Notes to
Consolidated Financial Statements for more information on the Company’s divestiture-related adjustments for 2013. Refer to Part II, Item 8, Note 20 of the Notes
to Consolidated Financial Statements for more information on the Company’s reportable segment Revenue and Operating income (loss) for 2015, 2014 and 2013.
The Company acquired Brainware, Isys, Nolij in the first quarter of 2012 and Acuo in the fourth quarter of 2012. Enterprise Software Revenue and Operating
income (loss) included in the table above for 2012 were $156.1 million and $(72.0) million, respectively. The Company incurred pre-tax charges of $60.3 million in
2012 related to acquisitions, including $41.4 million related to amortization of intangible assets and $18.9 million of other acquisition-related costs and integration
expenses.
The Company acquired Pallas Athena on October 18, 2011. Enterprise Software Revenue and Operating income (loss) included in the table above for 2011 were
$94.8 million and $(29.5) million, respectively. The Company incurred pre-tax charges of $24.5 million in 2011 related to acquisitions, including $21.2 million
related to amortization of intangible assets and $3.3 million of other acquisition-related costs and integration expenses.
(3) Refer to Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations — Restructuring Charges and Project Costs for
more information on the Company’s restructuring charges and project costs for 2015, 2014 and 2013. Refer to Part II, Item 8, Note 5 of the Notes to Consolidated
Financial Statements for more information on the Company’s restructuring charges for 2015, 2014 and 2013. Amounts in 2012 include restructuring charges and
project costs of $121.8 million. Amounts in 2011 include restructuring charges and project costs of $29.9 million.
(4) Refer to Part II, Item 8, Note 17 of the Notes to Consolidated Financial Statements for more information on the Company’s asset and actuarial net gain/loss on
pension and other postretirement benefit plans for 2015, 2014 and 2013. Amounts in 2012 include asset and actuarial net loss on pension and other postretirement
benefit plans of $21.8 million. Amounts in 2011 include asset and actuarial net loss on pension and other postretirement benefit plans of $94.7 million.
(5) Refer to Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations — Results of Operations for more information on
the Company’s remediation-related charges for 2015. Refer to Part II, Item 8, Note 20 of the Notes to Consolidated Financial Statements for more information on
the impact of remediation-related charges to the Company’s reportable segments for 2015.
(6) Refer to Part II, Item 8, Note 14 of the Notes to Consolidated Financial Statements for more information on the Company’s discrete tax items for 2015, 2014 and
2013.
(7) Total assets and long-term debt for all periods presented in the table above have been revised to reflect the retrospective application of ASU 2015-03 issued in April
2015 to simplify the presentation of debt issuance costs. Refer to Part II, Item 8, Note 13 of the Notes to Consolidated Financial Statements for information
regarding the impact to the Company’s financial statements for 2015 and 2014.