Graco 2007 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2007 Graco 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 84

  • 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
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

Newell Rubbermaid Inc. 2007 Annual Report
22
SELECTED FINANCIAL DATA
The following is a summary of certain consolidated financial information relating to the Company as of and for the year ended December 31, (in millions,
except per share data). The summary has been derived in part from, and should be read in conjunction with, the Consolidated Financial Statements of the
Company included elsewhere in this report and the schedules thereto.
2007(1) 2006(1) 2005(1) 2004 2003
STATEMENTS OF INCOME DATA
Net sales $6,407.3 $6,201.0 $5,717.2 $5,707.1 $5,879.8
Cost of products sold 4,150.1 4,131.0 3,959.1 4,050.6 4,174.4
Gross margin 2,257.2 2,070.0 1,758.1 1,656.5 1,705.4
Selling, general and administrative expenses 1,430.9 1,347.0 1,117.7 1,050.1 1,005.5
Impairment charges
— —
0.4 264.0 29.5
Restructuring costs (2) 86.0 66.4 72.6 28.2 158.4
Operating income 740.3 656.6 567.4 314.2 512.0
Nonoperating expenses:
Interest expense, net 104.1 132.0 127.1 119.3 134.3
Other expense (income), net 7.3 9.7 (23.1) (3.0) 17.4
Net nonoperating expenses 111.4 141.7 104.0 116.3 151.7
Income from continuing operations before income taxes 628.9 514.9 463.4 197.9 360.3
Income taxes 149.7 44.2 57.1 92.9 110.1
Income from continuing operations 479.2 470.7 406.3 105.0 250.2
Loss from discontinued operations, net of tax (12.1) (85.7) (155.0) (221.1) (296.8)
Net income (loss) $ 467.1 $ 385.0 $ 251.3 $ (116.1) $ (46.6)
Weighted average shares outstanding:
Basic 276.0 274.6 274.4 274.4 274.1
Diluted 286.1 275.5 274.9 274.7 274.3
Per common share:
Basic:
Income from continuing operations $ 1.74 $ 1.71 $ 1.48 $ 0.38 $ 0.91
Loss from discontinued operations (0.04) (0.31) (0.56) (0.81) (1.08)
Net income (loss) $ 1.69 $ 1.40 $ 0.92 $ (0.42) $ (0.17)
Diluted:
Income from continuing operations $ 1.72 $ 1.71 $ 1.48 $ 0.38 $ 0.91
Loss from discontinued operations (0.04) (0.31) (0.56) (0.80) (1.08)
Net income (loss) $ 1.68 $ 1.40 $ 0.91 $ (0.42) $ (0.17)
Dividends $ 0.84 $ 0.84 $ 0.84 $ 0.84 $ 0.84
BALANCE SHEET DATA
Inventories, net $ 940.4 $ 850.6 $ 793.8 $ 813.2 $ 717.0
Working capital (3) 87.9 580.3 675.3 1,141.1 978.2
Total assets 6,682.9 6,310.5 6,446.1 6,669.5 7,483.7
Short-term debt, including current portion of long-term debt 987.5 277.5 166.8 206.9 35.4
Long-term debt, net of current portion 1,197.4 1,972.3 2,429.7 2,424.3 2,868.6
Stockholders’ equity $2,247.3 $1,890.2 $1,643.2 $1,764.2 $2,016.3
(1) Supplemental data regarding 2007, 2006 and 2005 is provided in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
(2) The restructuring costs include facility and other exit costs, employee severance and termination benefits, asset impairments and other costs.
(3) Working capital is defined as Current Assets less Current Liabilities.