Emerson 2010 Annual Report Download - page 33

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2010 Annual Report
31
CONSOLIDATED STATEMENTS OF EARNINGS
2008 2009 2010
Net sales $23,751 20,102 21,039
Costs and expenses:
Cost of sales 14,813 12,542
12,713
Selling, general and administrative expenses 4,915 4,416 4,817
Other deductions, net 190 474 369
Interest expense, net of interest income: 2008, $56; 2009, $24; 2010, $19 188 220 261
Earnings from continuing operations before income taxes 3,645 2,450 2,879
Income taxes 1,125 688 848
Earnings from continuing operations 2,520 1,762 2,031
Discontinued operations, net of tax: 2008, $35; 2009, $5; 2010, $153 (34) 9 186
Net earnings 2,486 1,771 2,217
Less: Noncontrolling interests in earnings of subsidiaries 74 47 53
Net earnings common stockholders $ 2,412 1,724 2,164
Earnings common stockholders:
Earnings from continuing operations $ 2,446 1,715
1,978
Discontinued operations, net of tax (34) 9 186
Net earnings common stockholders $ 2,412 1,724 2,164
Basic earnings per share common stockholders:
Earnings from continuing operations $ 3.13 2.27
2.62
Discontinued operations (0.04) 0.02 0.25
Basic earnings per common share $ 3.09 2.29 2.87
Diluted earnings per share common stockholders:
Earnings from continuing operations $ 3.10 2.26
2.60
Discontinued operations (0.04) 0.01 0.24
Diluted earnings per common share $ 3.06 2.27 2.84
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts
See accompanying Notes to Consolidated Financial Statements.