Kimberly-Clark 2007 Annual Report Download - page 18

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Millions, except percentages and per share amounts
Year ended December 31 2007 2006 2005 2004 2003
INCOME STATEMENT DATA
Net sales $ 18,266.0 $ 16,746.9 $ 15,902.6 $ 15,083.2 $ 14,026.3
Gross profit 5,703.9 5,082.1 5,075.2 5,068.5 4,794.4
Operating profit 2,616.4 2,101.5 2,310.6 2,506.4 2,331.6
Share of net income of equity companies 170.0 218.6 136.6 124.8 107.0
Income from continuing operations 1,822.9 1,499.5 1,580.6 1,770.4 1,643.6
Income from discontinued operations [a] ———29.8 50.6
Net income 1,499.5 1,568.3 1,800.2 1,694.2
PER SHARE BASIS
Diluted net income $ 4.09 $ 3.25 $ 3.28 $ 3.61 $ 3.33
Diluted income from continuing operations 4.09 3.25 3.31 3.55 3.23
Dividends declared 2.12 1.96 1.80 1.60 1.36
Market price at December 31 69.34 67.95 59.65 65.81 59.09
Book value at December 31 12.41 13.38 12.04 13.73 13.49
CASH FLOW AND BALANCE SHEET DATA [b]
Cash provided by operations $ 2,428.9 $ 2,579.5 $ 2,311.8 $ 2,726.2 $ 2,552.2
Capital spending 989.3 972.1 709.6 535.0 872.9
Cash dividends paid 932.9 884.0 838.4 767.9 671.9
Free cash flow [c] 506.7 723.4 763.8 1,423.3 1,007.4
Depreciation and amortization 806.5 932.8 844.5 800.3 745.3
Total debt and redeemable preferred securities 6,496.4 4,395.8 4,574.6 4,235.6 4,165.9
Stockholders’ equity 5,223.7 6,097.4 5,558.2 6,629.5 6,766.3
Total assets 18,439.7 17,067.0 16,303.2 17,018.0 16,779.9
Common shares outstanding 420.9 455.6 461.5 482.9 501.6
FINANCIAL RATIOS
Percent of net sales:
Gross profit 31.2% 30.3% 31.9% 33.6% 34.2%
Operating profit 14.3% 12.5% 14.5% 16.6% 16.6%
Net income 10.0% 9.0% 9.9% 11.9% 12.1%
Capital spending 5.4% 5.8% 4.5% 3.5% 6.2%
Total debt and redeemable preferred securities to capital [d] 53.2% 40.3% 43.5% 37.7% 37.1%
Dividend payout ratio [e] 51.3% 59.9% 54.5% 44.0% 40.7%
[a] Represents the results of Neenah Paper, Inc.’s fine and technical paper businesses that were spun off on November 30, 2004.
[b] Cash flow data is from continuing operations. Balance sheet data is as of December 31.
[c] Free cash flow is calculated by subtracting capital spending and dividends paid from cash provided by operations.
[d] Capital is total debt and redeemable preferred securities of subsidiary plus minority owners’ interests in subsidiaries and total stockholders’ equity.
[e] Dividend payout ratio is declared dividends per share divided by basic earnings per share.
16
1,822.9