Cardinal Health 2010 Annual Report Download - page 66

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CARDINAL HEALTH, INC. AND SUBSIDIARIE
S
CO
N
SO
LIDATED
S
TATEMENT
SO
F EARNIN
GS
F
i
scal Year Ended June 30
,
20
1
0
2
009
2
008
(
In millions, exce
p
t
p
er common share amounts
)
R
e
v
enue
.................................................
$
98,502.8 $95,991.5 $87,408.
2
Cost o
f
pro
d
ucts so
ld
.......................................
94,722.1 92,244.0 83,
6
31.1
G
ross margin
.............................................
3,780.7 3,747.
5
3,777.1
Operating expense
s
D
istribution, selling, general and administrative expense
s
......
2
,408.0 2,333.
5
2,340.
6
Restructuring and employee severance
.....................
9
0.7 104.7
55
.3
A
c
q
uisition related costs ................................ 8.4 2.8 2.
6
I
mpairments and (gain)/loss on sale of asset
s
................
29
.
113
.
9 (33
.
3)
L
itigation (credits)/charges, net
...........................
(
62.4)
5
.2 19.
5
Operat
i
ng earn
i
ng
s
.........................................
1,
306.9 1
,
287.4 1
,
392.4
Ot
h
er (
i
ncome)/expense, ne
t
.
................................
(
13.
5)
13.2
(
38.8
)
I
nterest expense, net
.......................................
1
13.
5
114.4 136.1
Loss on ext
i
ngu
i
s
h
ment o
fd
e
bt
...............................
39
.
90
.
00
.
0
G
a
i
nonsa
l
eo
f
CareFus
i
on common stoc
k
......................
(
44.6
)
0.0 0.0
Earn
i
n
g
s
b
e
f
ore
i
ncome taxes an
ddi
scont
i
nue
d
operat
i
ons
.........
1
,211.6 1,159.8 1,295.1
Pro
vi
s
i
on
f
or
i
ncome taxes
..................................
6
24.
6
401.
6
447.
9
Earnings from continuing operation
s
..........................
5
87.0 7
5
8.2 847.2
Earnings from discontinued operations, net of tax
................
55
.2 3
9
3.4 4
5
3.4
Net earn
i
ngs..............................................
$
642.2
$
1
,
151.6
$
1
,
300.
6
B
as
i
c earn
i
ngs per Common S
h
are
:
Cont
i
nu
i
ng operat
i
ons ..................................
$
1.64
$
2.12
$
2.37
Di
scont
i
nue
d
operat
i
on
s
................................ 0.1
5
1.10 1.2
6
N
et
b
as
i
c earn
i
n
g
s per Common S
h
ar
e
.
.................... $ 1.79 $ 3.22 $ 3.63
D
il
ute
d
earn
i
n
g
s per Common S
h
are:
Cont
i
nu
i
n
g
operat
i
ons .................................. $ 1.62 $ 2.10 $ 2.33
Di
scont
i
nue
d
operat
i
on
s
................................
0
.1
5
1.
08
1.24
N
et diluted earnings per Common Share ....................
$
1.77
$
3.18
$
3.57
W
eighted average number of Common Shares outstanding
:
B
as
i
c
...............................................
3
5
8.8 3
5
7.6 3
5
8.2
D
il
uted
..............................................
361.4 361.
5
364.
0
The accompanying notes are an integral part of these consolidated statements.
40