Proctor and Gamble 2011 Annual Report Download - page 54

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52 The Procter & Gamble Company
See accompanying Notes to Consolidated Financial Statements.
Amounts in millions except per share amounts; Years ended June30  2010 2009
NET SALES $82,559 $78,938 $76,694
Cost of products sold 40,768 37,919 38,690
Selling, general and administrative expense 25,973 24,998 22,630
OPERATING INCOME 15,818 16,021 15,374
Interest expense 831 946 1,358
Other non-operating income/(expense), net 202 (28)397
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 15,189 15,047 14,413
Income taxes on continuing operations 3,392 4,101 3,733
NET EARNINGS FROM CONTINUING OPERATIONS 11,797 10,946 10,680
NET EARNINGS FROM DISCONTINUED OPERATIONS —1,790 2,756
NET EARNINGS $11,797 $12,736 $13,436
BASIC NET EARNINGS PER COMMON SHARE:
Earnings from continuing operations $4.12 $ 3.70 $ 3.55
Earnings from discontinued operations —0.62 0.94
BASIC NET EARNINGS PER COMMON SHARE 4.12 4.32 4.49
DILUTED NET EARNINGS PER COMMON SHARE:
Earnings from continuing operations 3.93 3.53 3.39
Earnings from discontinued operations —0.58 0.87
DILUTED NET EARNINGS PER COMMON SHARE 3.93 4.11 4.26
DIVIDENDS PER COMMON SHARE $1.97 $ 1.80 $ 1.64
Consolidated Statements of Earnings