Exhibit 99.2
Item 6. Selected Financial Data.
(Unaudited) | 2013 1,2 | 2012 2,3 | 2011 2,4 | 2010 2 | 2009 2 | ||||||||||||||
(Dollar amounts in millions, except per share data) | |||||||||||||||||||
Summary of Operations | |||||||||||||||||||
Net Sales from Continuing Operations | $ | 3,477 | $ | 3,415 | $ | 3,303 | $ | 2,980 | $ | 2,673 | |||||||||
Earnings from Continuing Operations | 186 | 231 | 173 | 177 | 107 | ||||||||||||||
(Earnings) Attributable to Noncontrolling Interest, net of tax | (2 | ) | (2 | ) | (3 | ) | (6 | ) | (3 | ) | |||||||||
Earnings (loss) from Discontinued Operations, net of tax | 13 | 19 | (17 | ) | 6 | 8 | |||||||||||||
Net Earnings | 197 | 248 | 153 | 177 | 112 | ||||||||||||||
Earnings per share from Continuing Operations | |||||||||||||||||||
Basic | 1.27 | 1.59 | 1.16 | 1.13 | .65 | ||||||||||||||
Diluted | 1.25 | 1.57 | 1.15 | 1.11 | .65 | ||||||||||||||
Earnings (Loss) per share from Discontinued Operations | |||||||||||||||||||
Basic | .09 | .13 | (.11 | ) | .04 | .05 | |||||||||||||
Diluted | .09 | .13 | (.11 | ) | .04 | .05 | |||||||||||||
Net Earnings (Loss) per share | |||||||||||||||||||
Basic | 1.36 | 1.72 | 1.05 | 1.17 | .70 | ||||||||||||||
Diluted | 1.34 | 1.70 | 1.04 | 1.15 | .70 | ||||||||||||||
Cash Dividends declared per share | 1.18 | 1.14 | 1.10 | 1.06 | 1.02 | ||||||||||||||
Summary of Financial Position | |||||||||||||||||||
Total Assets | $ | 3,108 | $ | 3,255 | $ | 2,915 | $ | 3,001 | $ | 3,061 | |||||||||
Long-term Debt, including capital leases | $ | 688 | $ | 854 | $ | 833 | $ | 762 | $ | 789 |
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1 | In the fourth quarter of 2013, we incurred $67 million of charges related to the Commercial Vehicle Products group ($63 million goodwill impairment charge and $4 million accelerated amortization of a customer-related intangible asset). In the third quarter of 2013, we recorded a $9 million bargain purchase gain related to an acquisition. |
2 | Amounts for 2013 through 2009 were retrospectively adjusted to reflect the reclassification of certain businesses from continuing to discontinued operations. For information about discontinued operations, see Note B on page 12 of the Notes to Consolidated Financial Statements in Exhibit 99.4 attached to this Form 8-K. |
3 | Net earnings for 2012 include a $27 million net tax benefit primarily related to the release of valuation allowances on certain Canadian deferred tax assets, partially offset by deferred withholding taxes on earnings in China. |
4 | The Company incurred asset impairment charges and restructuring-related charges totaling $44 million in 2011. Of these charges, $20 million were associated with continuing operations and $24 million were related to discontinued operations. |
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