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Newell Rubbermaid Inc. 2010 Annual Report
>
44 NEWELL RUBBERMAID 2010 Annual Report
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
Year Ended December 31, 2010 2009 2008
Net sales $ 5,759.2 $ 5,577.6 $ 6,470.6
Cost of products sold 3,588.4 3,528.1 4,347.4
Gross margin 2,170.8 2,049.5 2,123.2
Selling, general and administrative expenses 1,463.4 1,374.6 1,502.7
Impairment charges — — 299.4
Restructuring costs 77.5 100.0 120.3
Operating income 629.9 574.9 200.8
Nonoperating expenses:
Interest expense, net of interest income of $3.5, $6.3 and $8.9 in
2010, 2009 and 2008, respectively 118.4 140.0 137.9
Losses related to extinguishments of debt 218.6 4.7 52.2
Other (income) expense, net (7.4) 2.0 6.9
Net nonoperating expenses 329.6 146.7 197.0
Income before income taxes 300.3 428.2 3.8
Income taxes 7.5 142.7 53.6
Income (loss) from continuing operations 292.8 285.5 (49.8)
Loss from discontinued operations, net of tax — — (0.5)
Net income (loss) 292.8 285.5 (50.3)
Net income noncontrolling interests — — 2.0
Net income (loss) controlling interests $ 292.8 $ 285.5 $ (52.3)
Weighted-average shares outstanding:
Basic 282.4 280.8 279.9
Diluted 305.4 294.4 279.9
Earnings per share:
Basic:
Income (loss) from continuing operations $ 1.04 $ 1.02 $ (0.18)
Loss from discontinued operations — — —
Net income (loss) controlling interests $ 1.04 $ 1.02 $ (0.18)
Diluted:
Income (loss) from continuing operations $ 0.96 $ 0.97 $ (0.18)
Loss from discontinued operations — — —
Net income (loss) controlling interests $ 0.96 $ 0.97 $ (0.18)
Dividends per share $ 0.20 $ 0.26 $ 0.84
See Notes to Consolidated Financial Statements.