Abbott Laboratories 2012 Annual Report Download - page 27

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25
Abbott 2012 Annual Report
Year Ended December 31 2012 2011 2010
Net Sales $39,873,910 $38,851,259 $35,166,721
Cost of products sold 15,119,718 15,540,580 14,665,192
Research and development 4,322,182 4,129,414 3,724,424
Acquired in-process and collaborations research and development 288,000 672,500 313,200
Selling, general and administrative 12,059,495 12,756,817 10,376,324
Total Operating Cost and Expenses 31,789,395 33,099,311 29,079,140
Operating Earnings 8,084,515 5,751,948 6,087,581
Interest expense 592,403 530,141 553,135
Interest (income) (79,225) (85,196) (105,453)
Net loss on extinguishment of debt 1,350,973 — —
Net foreign exchange (gain) loss (8,044) (50,271) (10,924)
Other (income) expense, net (34,206) 158,632 (62,011)
Earnings Before Taxes 6,262,614 5,198,642 5,712,834
Taxes on Earnings 299,694 470,193 1,086,662
Net Earnings $ 5,962,920 $ 4,728,449 $ 4,626,172
Basic Earnings Per Common Share $ 3.76 $ 3.03 $ 2.98
Diluted Earnings Per Common Share $ 3.72 $ 3.01 $ 2.96
Average Number of Common Shares Outstanding Used for Basic
Earnings Per Common Share 1,575,378 1,557,643 1,546,400
Dilutive Common Stock Options and Awards 16,460 9,746 9,622
Average Number of Common Shares Outstanding
Plus Dilutive Common Stock Options and Awards 1,591,838 1,567,389 1,556,022
Outstanding Common Stock Options Having No Dilutive Effect 1,166 26,789 29,403
The accompanying notes to consolidated financial statements are an integral part of this statement.
Consolidated Statement of Earnings
(dollars and shares in thousands except per share data)