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Jarden Corporation Annual Report 2014 35
Years Ended December31,
(In millions, except per share amounts) 2014 2013 2012
Net sales $8,287.1 $7,355.9 $6,696.1
Cost of sales 5,654.2 5,241.2 4,771.7
Gross prot 2,632.9 2,114.7 1,924.4
Selling, general and administrative expenses 1,960.0 1,519.8 1,320.5
Restructuring costs, net 7.7 22.0 27.1
Impairment of goodwill, intangibles and other assets 25.4 — —
Operating earnings 639.8 572.9 576.8
Interest expense, net 210.3 195.4 185.3
Loss on early extinguishment of debt 56.7 25.9 —
Income before taxes 372.8 351.6 391.5
Income tax provision 130.3 147.7 147.6
Net income $242.5 $203.9 $243.9
Earnings per share:
Basic $ 1.31 $1.20 $1.39
Diluted $1.28 $1.18 $1.38
Weighted average shares outstanding:
Basic 185.3 170.6 176.1
Diluted 189.8 172.5 177.3
The accompanying notes are an integral part of the consolidated nancial statements.
Consolidated Statements of Comprehensive Income
Years Ended December31,
(In millions)2014 2013 2012
Comprehensive income:
Net income $ 242.5 $203.9 $243.9
Other comprehensive income, before tax:
Cumulative translation adjustment (113.4) (31.3) 13.7
Derivative nancial instruments 18.4 4.6 (3.1)
Accrued benet cost (12.5)38.3 (11.6)
Unrealized gain (loss) on investment (0.4 )— 0.5
Total other comprehensive income (loss), before tax (107.9)11.6 (0.5)
Income tax (provision) benet related to other comprehensive income (loss) (14.2) (16.8)3.8
Comprehensive income $120.4 $198.7 $247.2
The accompanying notes are an integral part of the consolidated nancial statements.
Financial Statements and Supplementary Data
Jarden Corporation Annual Report 2014
Consolidated Statements of Operations