Emerson 2015 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2015 Emerson 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 66

  • 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
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

58 | 2015 Annual Report
EMERSON ELECTRIC CO. & SUBSIDIARIES
Years ended September 30 | Dollars in millions, except per share amounts or where noted
2015 2014 2013
Summary of Net sales $22,304 24,537 24,669
Operations Gross profit $ 9,048 10,158 9,952
Interest expense $ 171 194 218
Earnings from continuing operations common stockholders $ 2,710a 2,147b 2,004b
Percent of net sales 12.2% 8.7% 8.1%
Net earnings common stockholders $ 2,710a 2,147b 2,004b
Operating cash flow $ 2,529 3,692 3,649
Return on common stockholders' equity 29.8%a 20.7%b 19.2%b
Per Share of Diluted EPS – Earnings from continuing operations $ 3.99a 3.03b 2.76b
Common Stock Diluted EPS – Net earnings $ 3.99a 3.03b 2.76b
Cash dividends $ 1.88 1.72 1.64
Book value $ 12.34 14.53 14.98
Year-End Operating working capital $ 1,748 1,729 1,686
Financial Percent of net sales 7.8% 7.0% 6.8%
Position Property, plant and equipment, net $ 3,585 3,802 3,605
Total assets $22,088 24,177 24,711
Long-term debt $ 4,289 3,559 4,055
Common stockholders' equity $ 8,081 10,119 10,585
Total debt to total capital 45.8% 37.3% 34.8%
Net debt to net capital 31.3% 22.1% 18.3%
Other Data Capital expenditures $ 685 767 678
Depreciation $ 507 518 521
Total taxes, including income taxes $ 2,056 1,856 1,821
Salaries and wages $ 4,713 4,961 4,967
Average number of employees 110,800 115,100 131,600
Approximate number of common stockholders of record at year end 20,130 20,901 21,898
Average common shares – diluted (in thousands) 676,450 704,071 722,912
Note: All share and per share data reflect the 2007 two-for-one stock split.
See Note 3 for information regarding the Company’s acquisition and divestiture activities for the last three years. In 2010, the Company acquired Chloride
Group PLC and Avocent Corporation. At acquisition, the combined annual sales for these businesses were approximately $960, and actual sales of $373 were
included in 2010 from their dates of acquisition. The divested U.S. Motors business with annual sales of approximately $820 was classified as discontinued
operations in 2009 and 2010.
a – 2015 includes combined gains from divestitures and spinoff-related costs of $559 after-tax ($0.82 per share).
b – 2014 includes a goodwill impairment charge of $508 after-tax ($0.72 per share); 2013 includes goodwill impairment and income tax charges totaling
$566 after-tax ($0.78 per share); 2012 includes a goodwill impairment charge of $528 after-tax ($0.72 per share).
ELEVEN-YEAR SUMMARY