Proctor and Gamble 2007 Annual Report Download - page 75

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The Procter & Gamble Company

Amounts in millions,
except per share amounts  2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Net sales   $ 68,222 $56,741 $51,407 $43,377 $40,238 $39,244 $39,951 $38,125 $37,154 $35,764
Gross margin  35,097 28,869 26,264 21,155 19,159 17,071 18,395 16,901 16,019 15,229
Operating income  13,249 10,469 9,382 7,312 6,073 4,260 5,678 6,130 5,581 5,318
Net earnings  8,684 6,923 6,156 4,788 3,910 2,612 3,363 3,683 3,472 3,305
Net earnings margin  12.7% 12.2% 12.0% 11.0% 9.7% 6.7% 8.4% 9.7% 9.3% 9.2%
Basic net earnings
per common share     $ 2.79 $ 2.70 $ 2.34 $ 1.80 $ 1.46 $ 0.96 $ 1.24 $ 1.35 $ 1.25 $ 1.18
Diluted net earnings
per common share  2.64 2.53 2.20 1.70 1.39 0.92 1.17 1.27 1.18 1.10
Dividends
per common share  1.15 1.03 0.93 0.82 0.76 0.70 0.64 0.57 0.51 0.45
Restructuring program
charges (1)
$
—
$
—
$
—
$ 751 $ 958 $ 1,850 $ 814 $ 481 $
—
$
—
Research and
development expense  2,075 1,940 1,802 1,665 1,601 1,769 1,899 1,726 1,546 1,469
Advertising expense  7,122 5,929 5,466 4,487 3,782 3,729 3,906 3,542 3,638 3,414
Total assets  135,695 61,527 57,048 43,706 40,776 34,387 34,366 32,192 31,042 27,598
Capital expenditures  2,667 2,181 2,024 1,482 1,679 2,486 3,018 2,828 2,559 2,129
Long-term debt  35,976 12,887 12,554 11,475 11,201 9,792 9,012 6,265 5,774 4,159
Shareholders‘ equity  62,908 18,475 18,190 17,025 14,415 12,560 12,673 12,352 12,493 12,139
(1) Restructuring program charges, on an after-tax basis, totaled $538, $706, $1,475, $688 and $285 for 2003, 2002, 2001, 2000 and 1999, respectively.
The following graphs compare the ve-year and ten-year cumulative total return of P&G’s common stock as compared with the S&P 500 Stock
Index, the Dow Jones Industrial Average Index, and a composite group comprised of the S&P Household Products Index, the S&P Paper Products
Index, the S&P Personal Products Index, the S&P Health Care Index and the S&P Food Index. The composite group is weighted based on P&G’s
current scal year revenues. The graphs assume that $100 was invested on June 30, 2002, and June 30, 1997, in each of the investment options
and that all dividends were reinvested.
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