| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Jan'16 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Net sales | ||||||
25,939 | 24,175 | 24,147 | 22,918 | 23,127 | 23,019 | 22,297 |
Cost of goods sold | ||||||
21,352 | 19,869 | 19,929 | 18,865 | 19,114 | 19,222 | 18,474 |
Gross profit | ||||||
4,587 | 4,306 | 4,218 | 4,053 | 4,013 | 3,797 | 3,823 |
Operating expenses: | ||||||
Distribution, selling and administrative costs | ||||||
3,888 | 3,647 | 3,631 | 3,585 | 3,650 | 3,545 | 3,494 |
Restructuring costs | ||||||
0 | 1 | -1 | 53 | 172 | - | 8 |
Total operating expenses | ||||||
3,888 | 3,648 | 3,630 | 3,639 | 3,823 | 3,545 | 3,502 |
Operating (loss) income | ||||||
699 | 658 | 588 | 413 | 189 | 252 | 320 |
Other income—net | ||||||
-4 | 13 | -14 | - | - | - | - |
ACQUISITION TERMINATION FEESNet | ||||||
- | - | - | - | 287 | - | - |
Interest expense—net | ||||||
184 | 175 | 170 | 229 | 285 | 289 | 306 |
Gain (Loss) on Extinguishment of Debt | ||||||
- | - | - | -53 | - | - | -41 |
(Loss) income before income taxes | ||||||
511 | 496 | 404 | 131 | 192 | -36 | -27 |
Income tax (benefit) provision | ||||||
126 | 89 | -40 | -78 | 24 | 35 | 29 |
Net (loss) income | ||||||
385 | 407 | 444 | 209 | 167 | -72 | -57 |
Other comprehensive (loss) income—net of tax: | ||||||
Changes in retirement benefit obligations | ||||||
-45 | -6 | -16 | 44 | -83 | 155 | -122 |
Unrecognized loss on interest rate swaps | ||||||
-15 | 5 | 8 | - | - | - | - |
Changes in interest rate swap derivative, net of income tax | ||||||
- | - | - | - | - | - | 0 |
Comprehensive (loss) income | ||||||
415 | 418 | 468 | 164 | 251 | -228 | 66 |
Net (loss) income per share: | ||||||
Basic | ||||||
1.77 | 1.88 | 2.00 | 1.05 | 0.99 | -0.43 | -0.34 |
Dilutive | ||||||
1.75 | 1.87 | 1.97 | 1.03 | 0.98 | -0.43 | -0.34 |
Weighted-average common shares outstanding | ||||||
Basic | ||||||
218 | 216 | 223 | 200 | 169 | 169 | 169 |
Diluted | ||||||
220 | 218 | 226 | 204 | 171 | 169 | 169 |