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. |
