Proctor and Gamble 2013 Annual Report Download - page 50

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48 The Procter & Gamble Company
See accompanying Notes to Consolidated Financial Statements.
Consolidated Statements of Earnings
Amounts in millions except per share amounts; Years ended June 30 2013 2012 2011
NET SALES $ 84,167 $ 83,680 $ 81,104
Cost of products sold 42,428 42,391 39,859
Selling, general and administrative expense 26,950 26,421 25,750
Goodwill and indefinite-lived intangible asset impairment charges 308 1,576 —
OPERATING INCOME 14,481 13,292 15,495
Interest expense 667 769 831
Interest income 87 77 62
Other non-operating income, net 942 185 271
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 14,843 12,785 14,997
Income taxes on continuing operations 3,441 3,468 3,299
NET EARNINGS FROM CONTINUING OPERATIONS 11,402 9,317 11,698
NET EARNINGS FROM DISCONTINUED OPERATIONS —1,587 229
NET EARNINGS 11,402 10,904 11,927
Less: Net earnings attributable to noncontrolling interests 90 148 130
NET EARNINGS ATTRIBUTABLE TO PROCTER & GAMBLE $ 11,312 $ 10,756 $ 11,797
BASIC NET EARNINGS PER COMMON SHARE (1):
Earnings from continuing operations $4.04
$3.24$4.04
Earnings from discontinued operations —0.58 0.08
BASIC NET EARNINGS PER COMMON SHARE 4.04 3.82 4.12
DILUTED NET EARNINGS PER COMMON SHARE (1):
Earnings from continuing operations $3.86
$3.12$3.85
Earnings from discontinued operations —0.54 0.08
DILUTED NET EARNINGS PER COMMON SHARE 3.86 3.66 3.93
DIVIDENDS PER COMMON SHARE $2.29
$2.14$1.97
(1) Basic net earnings per common share and diluted net earnings per common share are calculated on net earnings attributable to Procter &
Gamble.