Proctor and Gamble 2015 Annual Report Download - page 23

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21 The Procter & Gamble Company
Item 6. Selected Financial Data.
The information required by this item is incorporated by reference to Note 1 and Note 12 to our Consolidated Financial Statements.
Financial Summar Unaudited
Amounts in millions, excet er share amounts 2015 (2) 2014 201 2012 2011 2010
Net sales  ,29 $ 80,510 $ 80,116 $ 79,545 $ 76,982 $ 73,435
Gross profit ,40 39,500 40,125 39,628 39,594 38,717
Operating income 11,90 14,740 13,817 12,611 14,779 14,801
Net earnings from continuing operations ,90 11,318 10,953 8,874 11,197 10,201
Net earnings from discontinued operations 1, 467 449 2,030 730 2,645
Net earnings attributable to Procter & Gamble ,0 11,643 11,312 10,756 11,797 12,736
Net earnings margin from continuing operations 11. 14.1 13.7 11.2 14.5 13.9
asic net earnings per common share: (1)
Earnings from continuing operations  .1 $ 4.03 $ 3.87 $ 3.08 $ 3.87 $ 3.41
Earnings from discontinued operations 0. 0.16 0.17 0.74 0.25 0.91
asic net earnings per common share  2.50 $ 4.19 $ 4.04 $ 3.82 $ 4.12 $ 4.32
Diluted net earnings per common share: (1)
Earnings from continuing operations  .0 $ 3.86 $ 3.71 $ 2.97 $ 3.69 $ 3.26
Earnings from discontinued operations 0.2 0.15 0.15 0.69 0.24 0.85
Diluted net earnings per common share  2.44 $ 4.01 $ 3.86 $ 3.66 $ 3.93 $ 4.11
Dividends per common share  2.59 $ 2.45 $ 2.29 $ 2.14 $ 1.97 $ 1.80
Research and development expense  2,04 $ 1,984 $ 1,940 $ 1,947 $ 1,897 $ 1,851
Advertising expense ,290 8,979 9,364 8,981 8,868 8,162
Total assets 129,495 144,266 139,263 132,244 138,354 128,172
Capital expenditures , 3,848 4,008 3,964 3,306 3,067
Long-term debt 1,29 19,811 19,111 21,080 22,033 21,360
Shareholders' equity  ,050 $ 69,976 $ 68,709 $ 64,035 $ 68,001 $ 61,439
(1) asic net earnings per common share and diluted net earnings per common share are calculated based on net earnings attributable to Procter
& Gamble.
(2) Our 2015 net sales were negatively impacted by approximately $4.8 billion of unfavorable foreign exchange fluctuation compared to 2014.
Net earnings attributable to Procter & Gamble in 2015 were negatively impacted by approximately $1.4 billion due to foreign exchange,
$2.1 billion of non-cash impairment charges related to the atteries business reported in discontinued operations and a $2.1 billion enezuelan
deconsolidation charge. These impacts are discussed more fully later in Item 7 Summary of 2015 Results and Results of Operations
of the MD&A.