Toro 2012 Annual Report Download - page 48
Download and view the complete annual report
Please find page 48 of the 2012 Toro annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.CONSOLIDATED STATEMENTS OF EARNINGS
(Dollars and shares in thousands, except per share data) Fiscal years ended October 31 2012 2011 2010
Net sales $1,958,690 $1,883,953 $1,690,378
Cost of sales 1,285,596 1,247,306 1,113,987
Gross profit 673,094 636,647 576,391
Selling, general, and administrative expense 467,481 452,160 425,125
Operating earnings 205,613 184,487 151,266
Interest expense (16,906) (16,970) (17,113)
Other income, net 7,555 7,309 7,115
Earnings before income taxes 196,262 174,826 141,268
Provision for income taxes 66,721 57,168 48,031
Net earnings $ 129,541 $ 117,658 $ 93,237
Basic net earnings per share of common stock $ 2.18 $ 1.88 $ 1.41
Diluted net earnings per share of common stock $ 2.14 $ 1.85 $ 1.39
Weighted-average number of shares of common stock outstanding – Basic 59,446 62,534 65,964
Weighted-average number of shares of common stock outstanding – Diluted 60,618 63,594 66,874
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
42