Emerson 2012 Annual Report Download - page 33

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2012 Annual Report | 31
2010 2011 2012
Net sales $21,039 24,222 24,412
Costs and expenses:
Cost of sales 12,713 14,665 14,644
Selling, general and administrative expenses 4,817 5,328 5,436
Goodwill impairment – 19 592
Other deductions, net 369 356 401
Interest expense, net of interest income: 2010, $19; 2011, $23; 2012, $17 261 223 224
Earnings from continuing operations before income taxes 2,879 3,631 3,115
Income taxes 848 1,127 1,091
Earnings from continuing operations 2,031 2,504 2,024
Discontinued operations, net of tax: 2010, $153; 2011, $30 186 26 –
Net earnings 2,217 2,530 2,024
Less: Noncontrolling interests in earnings of subsidiaries 53 50 56
Net earnings common stockholders $ 2,164 2,480 1,968
Earnings common stockholders:
Earnings from continuing operations $ 1,978 2,454 1,968
Discontinued operations, net of tax 186 26 –
Net earnings common stockholders $ 2,164 2,480 1,968
Basic earnings per share common stockholders:
Earnings from continuing operations $ 2.62 3.26 2.68
Discontinued operations 0.25 0.03 –
Basic earnings per common share $ 2.87 3.29 2.68
Diluted earnings per share common stockholders:
Earnings from continuing operations $ 2.60 3.24 2.67
Discontinued operations 0.24 0.03 –
Diluted earnings per common share $ 2.84 3.27 2.67
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts
See accompanying Notes to Consolidated Financial Statements.
CONSOLIDATED STATEMENTS OF EARNINGS