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Jarden Corporation Annual Report 2013 33
Years Ended December31,
(In millions, except per share amounts) 2013 2012 2011
Net sales $7,355.9 $6,696.1 $6,679.9
Cost of sales 5,241.2 4,771.7 4,821.9
Gross prot 2,114.7 1,924.4 1,858.0
Selling, general and administrative expenses 1,519.8 1,320.5 1,259.2
Reorganization costs, net 22.0 27.1 23.4
Impairment of goodwill, intangibles and other assets — — 52.5
Operating earnings 572.9 576.8 522.9
Interest expense, net 195.4 185.3 179.7
Loss on early extinguishment of debt 25.9 — 12.8
Income before taxes 351.6 391.5 330.4
Income tax provision 147.7 147.6 125.7
Net income $203.9 $243.9 $204.7
Earnings per share:
Basic $ 1.79 $2.08 $1.55
Diluted $1.77 $2.06 $1.54
Weighted average shares outstanding:
Basic 113.7 117.4 132.1
Diluted 115.1 118.2 132.9
The accompanying notes are an integral part of the consolidated nancial statements.
Consolidated Statements of Comprehensive Income
Years Ended December31,
(In millions)2013 2012 2011
Comprehensive income:
Net income $ 203.9 $243.9 $204.7
Other comprehensive income, before tax:
Cumulative translation adjustment (31.3) 13.7 (25.4)
Derivative nancial instruments 4.6 (3.1) 19.0
Accrued benet cost 38.3 (11.6) (31.9)
Unrealized gain on investment — 0.5 0.2
Total other comprehensive income (loss), before tax 11.6 (0.5) (38.1)
Income tax (provision) benet related to other comprehensive income (loss) (16.8) 3.8 6.2
Comprehensive income $198.7 $247.2 $172.8
The accompanying notes are an integral part of the consolidated nancial statements.
Consolidated Statements of Operations
Jarden Corporation Annual Report 2013