International Paper 2015 Annual Report Download - page 31

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14
ITEM 6. SELECTED FINANCIAL DATA
FIVE-YEAR FINANCIAL SUMMARY (a)
Dollar amounts in millions, except per
share amounts and stock prices 2015 2014 2013 2012 2011
RESULTS OF OPERATIONS
Net sales $ 22,365 $ 23,617 $ 23,483 $ 21,852 $ 19,464
Costs and expenses, excluding interest 20,544 22,138 21,643 20,214 17,528
Earnings (loss) from continuing
operations before income taxes and
equity earnings 1,266 (b) 872 (d) 1,228 (g) 967 (j) 1,395 (m)
Equity earnings (loss), net of taxes 117 (200) (39)61 140
Discontinued operations, net of taxes —(13) (e) (309)(h) 77 (k) 82 (n)
Net earnings (loss) 917 (b-c) 536 (d-f) 1,378 (g-i) 799 (j-l) 1,336 (m-o)
Noncontrolling interests, net of taxes (21) (19) (17) 5 14
Net earnings (loss) attributable to
International Paper Company 938 (b-c) 555 (d-f) 1,395 (g-i) 794 (j-l) 1,322 (m-o)
FINANCIAL POSITION
Current assets less current liabilities $ 2,553 $3,050 $ 3,898 $ 3,907 $ 5,718
Plants, properties and equipment, net 11,980 12,728 13,672 13,949 11,817
Forestlands 366 507 557 622 660
Total assets 30,587 28,684 31,528 32,153 27,018
Notes payable and current maturities of
long-term debt 426 742 661 444 719
Long-term debt 8,900 8,631 8,827 9,696 9,189
Total shareholders’ equity 3,884 5,115 8,105 6,304 6,645
BASIC EARNINGS PER SHARE
ATTRIBUTABLE TO INTERNATIONAL
PAPER COMPANY COMMON
SHAREHOLDERS
Earnings (loss) from continuing
operations $2.25 $1.33 $
3.85 $ 1.65 $2.87
Discontinued operations — (0.03) (0.70) 0.17 0.19
Net earnings (loss) 2.25 1.30 3.15 1.82 3.06
DILUTED EARNINGS PER SHARE
ATTRIBUTABLE TO INTERNATIONAL
PAPER COMPANY COMMON
SHAREHOLDERS
Earnings (loss) from continuing
operations $2.23 $1.31 $
3.80 $ 1.63 $2.84
Discontinued operations — (0.02) (0.69) 0.17 0.19
Net earnings (loss) 2.23 1.29 3.11 1.80 3.03
Cash dividends 1.640 1.450 1.250 1.088 0.975
Total shareholders’ equity 9.43 12.18 18.57 14.33 15.21
COMMON STOCK PRICES
High $ 57.90 $55.73 $ 50.33 $ 39.88 $ 33.01
Low 36.76 44.24 39.47 27.29 21.55
Year-end 37.70 53.58 49.03 39.84 29.60
FINANCIAL RATIOS
Current ratio 1.7 1.6 1.8 1.8 2.2
Total debt to capital ratio 0.71 0.65 0.54 0.62 0.60
Return on shareholders’ equity 20.0% (b-c) 7.7% (d-f) 20.2%(g-i) 11.6%(j-l) 17.9%(m-o)
CAPITAL EXPENDITURES $ 1,487 $1,366 $ 1,198 $1,383 $1,159
NUMBER OF EMPLOYEES 56,000 58,000 64,000 65,000 56,000