Cardinal Health 2013 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2013 Cardinal Health annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Cardinal Health, Inc. and Subsidiaries
Consolidated Statements of Earnings
27
(in millions, except per common share amounts) 2013 2012 2011
Revenue $101,093 $107,552 $ 102,644
Cost of products sold 96,172 103,011 98,482
Gross margin 4,921 4,541 4,162
Operating expenses:
Distribution, selling, general and administrative expenses 2,875 2,677 2,528
Restructuring and employee severance 71 21 15
Acquisition-related costs 158 33 90
Impairments and loss on disposal of assets 859 21 9
Litigation (recoveries)/charges, net (38)(3) 6
Operating earnings 996 1,792 1,514
Other income, net (15)(1) (22)
Interest expense, net 123 95 93
Gain on sale of investment in CareFusion ——(75)
Earnings before income taxes and discontinued operations 888 1,698 1,518
Provision for income taxes 553 628 552
Earnings from continuing operations 335 1,070 966
Loss from discontinued operations, net of tax (1)(1) (7)
Net earnings $ 334 $1,069 $959
Basic earnings/(loss) per common share:
Continuing operations $0.98 $3.10 $ 2.77
Discontinued operations ——(0.02)
Net basic earnings per common share $ 0.98 $3.10 $ 2.75
Diluted earnings/(loss) per common share:
Continuing operations $0.97 $3.06 $ 2.74
Discontinued operations ——(0.02)
Net diluted earnings per common share $ 0.97 $3.06 $ 2.72
Weighted-average number of common shares outstanding:
Basic 341 345 349
Diluted 344 349 353
The accompanying notes are an integral part of these consolidated statements.