Exhibit 13
Five-Year Comparison of Results
Donaldson Company, Inc. and Subsidiaries
(Millions of dollars, except per share amounts)
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Results | ||||||||||||||||||||||
Net sales | $ | 1,694.3 | $ | 1,595.7 | $ | 1,415.0 | $ | 1,218.3 | $ | 1,126.0 | ||||||||||||
Gross margin percentage | 32.9 | % | 31.7 | % | 31.6 | % | 32.1 | % | 31.0 | % | ||||||||||||
Operating income percentage | 11.4 | % | 9.8 | % | 10.0 | % | 10.8 | % | 11.0 | % | ||||||||||||
Effective income tax rate | 30.1 | % | 28.6 | % | 25.0 | % | 27.0 | % | 27.0 | % | ||||||||||||
Net earnings | $ | 132.3 | $ | 110.6 | $ | 106.3 | $ | 95.3 | $ | 86.9 | ||||||||||||
Return on sales | 7.8 | % | 6.9 | % | 7.5 | % | 7.8 | % | 7.7 | % | ||||||||||||
Return on average shareholders’ equity | 24.7 | % | 20.6 | % | 21.3 | % | 23.0 | % | 24.8 | % | ||||||||||||
Return on investment | 20.8 | % | 17.7 | % | 18.1 | % | 18.3 | % | 19.2 | % | ||||||||||||
Financial Position | ||||||||||||||||||||||
Total assets | $ | 1,124.1 | $ | 1,111.8 | $ | 1,001.6 | $ | 882.0 | $ | 850.1 | ||||||||||||
Current debt | $ | 79.9 | $ | 109.8 | $ | 54.1 | $ | 14.8 | $ | 60.9 | ||||||||||||
Long-term debt | $ | 100.5 | $ | 103.3 | $ | 70.9 | $ | 105.2 | $ | 104.6 | ||||||||||||
Total debt | $ | 180.4 | $ | 213.1 | $ | 124.9 | $ | 120.0 | $ | 165.4 | ||||||||||||
Shareholders’ equity | $ | 546.8 | $ | 524.6 | $ | 549.3 | $ | 447.4 | $ | 382.6 | ||||||||||||
Long-term capitalization ratio | $ | 15.5 | % | 16.5 | % | 11.4 | % | 19.0 | % | 21.5 | % | |||||||||||
Property, plant and equipment, net | $ | 317.4 | $ | 275.5 | $ | 261.5 | $ | 255.4 | $ | 240.9 | ||||||||||||
Net expenditures on property, plant and equipment | $ | 77.6 | $ | 50.2 | $ | 43.0 | $ | 33.3 | $ | 40.5 | ||||||||||||
Depreciation and amortization | $ | 44.7 | $ | 44.3 | $ | 41.6 | $ | 37.6 | $ | 31.8 | ||||||||||||
Shareholder Information | ||||||||||||||||||||||
Net earnings per share – assuming dilution | $ | 1.55 | $ | 1.27 | $ | 1.18 | $ | 1.05 | $ | 0.95 | ||||||||||||
Dividends paid per share | $ | 0.320 | $ | 0.235 | $ | 0.205 | $ | 0.175 | $ | 0.155 | ||||||||||||
Shareholders’ equity per share | $ | 6.80 | $ | 6.32 | $ | 6.38 | $ | 5.16 | $ | 4.36 | ||||||||||||
Shares outstanding (000s) | 80,453 | 82,953 | 86,112 | 86,679 | 87,769 | |||||||||||||||||
Common stock price range, per share | ||||||||||||||||||||||
High | $ | 36.00 | $ | 34.45 | 30.75 | 24.59 | 22.50 | |||||||||||||||
Low | $ | 28.60 | $ | 25.11 | 23.55 | 14.96 | 13.47 |