| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Net sales | |||||||||
2,698 | 2,713 | 2,262 | 1,840 | 1,986 | 2,127 | 1,926 | 2,141 | 2,162 | 1,926 |
Cost of sales | |||||||||
1,304 | 1,291 | 1,131 | 976 | 1,052 | 1,151 | 1,084 | 1,187 | 1,208 | 1,098 |
Gross profit | |||||||||
1,394 | 1,422 | 1,131 | 864 | 934 | 975 | 841 | 954 | 954 | 828 |
Selling, general and administrative | |||||||||
354 | 364 | 342 | 324 | 317 | 344 | 334 | 419 | 409 | 384 |
Engineering — research and development | |||||||||
154 | 131 | 105 | 88 | 93 | 103 | 97 | 115 | 116 | 101 |
Trade name impairment | |||||||||
- | - | - | - | 80 | - | - | - | - | - |
Environmental remediation | |||||||||
-8 | 0 | 0 | - | 14 | - | - | - | - | - |
Loss associated with impairment of long-lived assets | |||||||||
2 | 4 | 32 | 0 | 1 | 15 | - | - | - | - |
Operating income | |||||||||
892 | 923 | 652 | 452 | 429 | 512 | 409 | 420 | 429 | 341 |
Interest expense, net | |||||||||
-134 | -121 | -103 | -101 | -114 | -139 | -133 | -152 | 218 | 281 |
Interest income | |||||||||
- | - | - | - | - | 0 | 0 | 0 | 0 | 3 |
Expenses related to long-term debt refinancing | |||||||||
- | - | - | -12 | -26 | - | - | - | 56 | - |
Other (expense) income, net | |||||||||
10 | 3 | -22 | 2 | - | -5 | -10 | -52 | -4 | 19 |
Income before income taxes | |||||||||
768 | 805 | 527 | 341 | 289 | 368 | 266 | 216 | 150 | 83 |
Income tax expense | |||||||||
164 | 166 | 23 | 126 | 107 | 139 | 100 | -298 | 47 | 53 |
Net income | |||||||||
604 | 639 | 504 | 215 | 182 | 228 | 165 | 514 | 103 | 29 |
Basic earnings per share attributable to common stockholders (USD per share) | |||||||||
4.95 | 4.81 | 3.38 | 1.28 | 1.03 | 1.27 | 0.90 | 2.83 | 0.57 | 0.16 |
Diluted earnings per share attributable to common stockholders (USD per share) | |||||||||
4.91 | 4.78 | 3.36 | 1.27 | 1.03 | 1.25 | 0.88 | 2.76 | 0.56 | 0.16 |
Dividends declared per common share (USD per share) | |||||||||
- | - | - | 0.60 | 0.60 | 0.51 | 0.42 | 0.18 | - | - |
Other comprehensive (loss) income, net of tax: | |||||||||
Foreign currency translation | |||||||||
-3 | -9 | 15 | -6 | -11 | -7 | -5 | -0 | -11 | 0 |
Pension and OPEB liability adjustment | |||||||||
0 | -1 | -26 | -3 | 3 | 9 | -29 | -15 | 22 | 31 |
Available-for-sale securities and interest rate swaps | |||||||||
-19 | -7 | 7 | -1 | -5 | -2 | -1 | -1 | 3 | -1 |
Total other comprehensive (loss) income, net of tax | |||||||||
-22 | -15 | 48 | -4 | -19 | -18 | 22 | 13 | -31 | -32 |
Comprehensive income, net of tax | |||||||||
582 | 624 | 552 | 211 | 163 | 210 | 188 | 527 | 72 | -3 |