Graco 2012 Annual Report Download - page 58

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52
NEWELL RUBBERMAID INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
Year Ended December 31, 2012 2011 2010
Net sales $ 5,902.7 $ 5,864.6 $ 5,658.2
Cost of products sold 3,673.6 3,659.4 3,509.5
Gross margin 2,229.1 2,205.2 2,148.7
Selling, general and administrative expenses 1,521.1 1,515.3 1,447.8
Impairment charges — 382.6 —
Restructuring costs 56.1 50.1 77.4
Operating income 651.9 257.2 623.5
Nonoperating expenses:
Interest expense, net of interest income of $4.3, $2.2 and $3.5 in 2012,
2011 and 2010, respectively 76.1 86.2 118.4
Losses related to extinguishments of debt 10.9 4.8 218.6
Other (income) expense, net (1.0) 13.7 (7.3)
Net nonoperating expenses 86.0 104.7 329.7
Income before income taxes 565.9 152.5 293.8
Income tax expense 166.3 17.9 5.6
Income from continuing operations 399.6 134.6 288.2
Income (loss) from discontinued operations, net of tax 1.7 (9.4) 4.6
Net income $ 401.3 $ 125.2 $ 292.8
Weighted-average shares outstanding:
Basic 291.2 293.6 282.4
Diluted 293.6 296.2 305.4
Earnings per share:
Basic:
Income from continuing operations $ 1.37 $ 0.46 $ 1.02
Income (loss) from discontinued operations 0.01 (0.03) 0.02
Net income $ 1.38 $ 0.43 $ 1.04
Diluted:
Income from continuing operations $ 1.36 $ 0.45 $ 0.94
Income (loss) from discontinued operations 0.01 (0.03) 0.02
Net income $ 1.37 $ 0.42 $ 0.96
Dividends per share $ 0.43 $ 0.29 $ 0.20
See Notes to Consolidated Financial Statements.