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30
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data is derived from our consolidated financial statements. The data set forth below should
be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” the
section “Forward-Looking Statements” in this Annual Report on Form 10-K and our consolidated financial statements and
notes thereto.
($000, except per share data)
2015
2014
2013
2012
1
2011
Operations
Sales
$
11,939,999
$
11,041,677
$
10,230,353
$
9,721,065
$
8,608,291
Cost of goods sold
8,576,873
7,937,956
7,360,924
7,011,428
6,240,760
Percent of sales
71.8%
71.9%
72.0%
72.1%
72.5%
Selling, general and administrative
1,738,755
1,615,371
1,526,366
1,437,886
1,304,065
Percent of sales
14.6%
14.6%
14.9%
14.8%
15.2%
Interest expense (income), net
12,612
2,984
(247
)
6,907
10,322
Earnings before taxes
1,611,759
1,485,366
1,343,310
1,264,844
1,053,144
Percent of sales
13.5%
13.5%
13.1%
13.0%
12.2%
Provision for taxes on earnings
591,098
560,642
506,006
478,081
395,974
Net earnings
$
1,020,661
$
924,724
$
837,304
$
786,763
$
657,170
Percent of sales
8.5%
8.4%
8.2%
8.1%
7.6%
Basic earnings per share²
$
2.53
$
2.24
$
1.97
$
1.80
$
1.45
Diluted earnings per share²
$
2.51
$
2.21
$
1.94
$
1.77
$
1.43
Cash dividends declared
per common share²
$
0.470
$
0.400
$
0.255
3
$
0.295
$
0.235
¹ Fiscal 2012 was a 53-week year; all other fiscal years presented were 52 weeks.
² All per share amounts have been adjusted for the two-for-one stock splits effective June 11, 2015 and December 15, 2011.
³ Dividend declaration of $0.10 per share for the fourth quarter which historically had been declared in January was declared in February 2014.