Whirlpool 2012 Annual Report Download - page 34

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32
WHIRLPOOL CORPORATION
Consolidated Statements of Income
(Millions of dollars, except per share data)
Year Ended December 31, 2012 2011 2010
Net sales $ 18,143 $ 18,666 $ 18,366
Expenses
Cost of products sold 15,250 16,089 15,652
Gross margin 2,893 2,577 2,714
Selling, general and administrative 1,757 1,621 1,604
Intangible amortization 30 28 28
Restructuring costs 237 136 74
Operating profit 869 792 1,008
Other income (expense)
Interest and sundry income (expense) (112) (607) (197)
Interest expense (199) (213) (225)
Earnings (loss) before income taxes 558 (28) 586
Income tax expense (benefit) 133 (436) (64)
Net earnings 425 408 650
Less: Net earnings available to noncontrolling interests 24 18 31
Net earnings available to Whirlpool $ 401 $ 390 $ 619
Per share of common stock
Basic net earnings available to Whirlpool $ 5.14 $ 5.07 $ 8.12
Diluted net earnings available to Whirlpool $ 5.06 $ 4.99 $ 7.97
Dividends $ 2.00 $ 1.93 $ 1.72
Weighted-average shares outstanding (in millions)
Basic 78.1 76.8 76.2
Diluted 79.3 78.1 77.6