Raytheon 2012 Annual Report Download - page 131

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
123
Note 17: Quarterly Operating Results (Unaudited)
(In millions, except per share amounts, stock prices and workdays)
2012 First Second Third Fourth(3)
Total net sales $ 5,938 $ 5,992 $ 6,045 $ 6,439
Gross margin 1,279 1,340 1,356 1,347
Income from continuing operations 454 471 508 468
Net income attributable to Raytheon Company 448 471 500 469
EPS from continuing operations attributable to Raytheon Company
common stockholders(1)
Basic $ 1.33 $ 1.41 $ 1.51 $ 1.41
Diluted 1.33 1.41 1.51 1.41
EPS attributable to Raytheon Company common stockholders(1)
Basic 1.33 1.41 1.51 1.42
Diluted 1.32 1.41 1.50 1.42
Cash dividends per share
Declared 0.500 0.500 0.500 0.500
Paid 0.430 0.500 0.500 0.500
Common stock prices
High $ 52.96 $ 56.59 $ 58.40 $ 59.28
Low 47.99 49.30 54.28 54.00
Workdays(2) 64 64 63 58
2011 First(4) Second Third(5) Fourth
Total net sales $ 6,052 $ 6,201 $ 6,116 $ 6,422
Gross margin 1,154 1,268 1,301 1,404
Income from continuing operations 386 437 507 548
Net income attributable to Raytheon Company 384 438 501 543
EPS from continuing operations attributable to Raytheon Company
common stockholders(1)
Basic $ 1.07 $ 1.21 $ 1.42 $ 1.56
Diluted 1.06 1.20 1.42 1.56
EPS attributable to Raytheon Company common stockholders(1)
Basic 1.07 1.23 1.43 1.58
Diluted 1.06 1.23 1.43 1.57
Cash dividends per share
Declared 0.430 0.430 0.430 0.430
Paid 0.375 0.430 0.430 0.430
Common stock prices
High $ 52.51 $ 51.49 $ 49.63 $ 49.07
Low 46.09 47.93 38.83 39.50
Workdays(2) 64 64 63 57
(1) EPS is computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not equal the total
computed for each year.
(2) Number of workdays per our fiscal calendar, which excludes holidays and weekends.
(3) During the fourth quarter of 2012, we received proceeds of $1,092 million for the issuance of $1.1 billion fixed rate long-term debt and exercised our
call rights to repurchase, at prices based on fixed spreads to the U.S. Treasuries, $970 million of our long-term debt due 2014 and 2015 at a loss of $29
million pretax, $19 million after-tax, which is included in other expense (income), net.