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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, 2015, 2014, and 2013
(In Millions, Except Per Share Amounts)
2015
2014
2013
Revenue:
Product
$
2,890.2
$
3,203.9
$
3,242.3
Service
661.0
506.6
425.3
Total Revenue
3,551.2
3,710.5
3,667.6
Cost of revenue:
Product
1,743.9
1,931.3
1,880.3
Service
408.9
360.1
321.9
Restructuring-related costs
1.6
9.3
21.5
Total Cost of revenue
2,154.4
2,300.7
2,223.7
Gross profit
1,396.8
1,409.8
1,443.9
Research and development
332.2
354.5
287.2
Selling, general and administrative
1,014.1
888.2
810.1
Gain on sale of inkjet-related technology and assets
–
–
(73.5)
Restructuring and related charges
75.0
17.9
10.9
Operating expense
1,421.3
1,260.6
1,034.7
Operating (loss) income
(24.5)
149.2
409.2
Interest expense (income), net
39.4
31.6
33.0
Other expense (income), net
3.8
4.2
4.5
Loss on extinguishment of debt
–
–
3.3
(Loss) earnings before income taxes
(67.7)
113.4
368.4
(Benefit) provision for income taxes
(27.3)
33.5
109.3
Net (loss) earnings
$
(40.4)
$
79.9
$
259.1
Net (loss) earnings per share:
Basic
$
(0.66)
$
1.29
$
4.11
Diluted
$
(0.66)
$
1.26
$
4.04
Shares used in per share calculation:
Basic
61.6
62.0
63.0
Diluted
61.6
63.2
64.1
Cash dividends declared per common share
$
1.44
$
1.38
$
1.20
See notes to consolidated financial statements.