| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Product sales | ||||||||||||
- | - | - | - | - | - | - | - | 2,406 | 2,405 | 2,543 | 3,453 | 3,090 |
Freight and delivery revenues | ||||||||||||
- | - | - | - | - | - | - | - | 157 | 152 | 146 | 198 | 237 |
Total revenues | ||||||||||||
4,929 | 4,382 | 3,890 | 3,592 | 3,422 | 2,994 | 2,770 | 2,567 | 2,564 | 2,558 | 2,690 | 3,651 | 3,327 |
Cost of goods sold | ||||||||||||
- | - | - | - | - | - | - | - | 2,123 | 2,105 | 2,097 | 2,703 | 2,139 |
Delivery costs | ||||||||||||
- | - | - | - | - | - | - | - | 157 | 152 | 146 | 198 | 237 |
Cost of revenues | ||||||||||||
3,673 | 3,281 | 2,896 | 2,603 | 2,564 | 2,406 | 2,343 | 2,233 | 2,280 | 2,258 | 2,244 | 2,901 | 2,376 |
Gross profit | ||||||||||||
1,255 | 1,100 | 993 | 988 | 857 | 587 | 426 | 334 | 283 | 300 | 445 | 749 | 950 |
Selling, administrative and general expenses | ||||||||||||
370 | 333 | 324 | 316 | 286 | 272 | 259 | 259 | 289 | 327 | 321 | 342 | 289 |
Gain on sale of property, plant & equipment and businesses | ||||||||||||
23 | 14 | 17 | 15 | 9 | 244 | 39 | 68 | 47 | 59 | 27 | 94 | 58 |
Business interruption claims recovery | ||||||||||||
- | - | - | - | - | 0 | - | - | 46 | -40 | 0 | - | - |
Impairment of long-lived assets | ||||||||||||
- | - | - | - | - | 3 | - | - | - | - | - | - | - |
Restructuring charges | ||||||||||||
- | - | - | - | - | - | 1 | 9 | 12 | 0 | 0 | - | - |
Exchange offer costs | ||||||||||||
- | - | - | - | - | - | - | 43 | 2 | 0 | 0 | - | - |
Other operating expense, net | ||||||||||||
31 | 34 | 47 | 21 | 30 | 18 | 14 | 5 | 9 | 7 | 3 | 0 | -5 |
Goodwill impairment | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 252 | 0 |
Charge for legal settlement | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 0 | - |
Operating earnings | ||||||||||||
877 | 747 | 639 | 665 | 549 | 538 | 190 | 84 | 63 | -14 | 148 | 249 | 714 |
Other nonoperating income (expense), net | ||||||||||||
9 | 13 | 13 | 14 | -1 | 3 | 7 | 6 | 0 | 3 | 5 | -4 | -5 |
Interest income | ||||||||||||
1 | 0 | 4 | 0 | 0 | 0 | 0 | 1 | 3 | 0 | 2 | 3 | 6 |
Interest expense, net | ||||||||||||
130 | 137 | 295 | 134 | 220 | 243 | 202 | 213 | 220 | 181 | 175 | 172 | 48 |
Earnings from continuing operations before income taxes | ||||||||||||
757 | 623 | 361 | 547 | 327 | 298 | -3 | -120 | -153 | -192 | -19 | 75 | 667 |
Income tax expense (benefit) | ||||||||||||
Current | ||||||||||||
58 | 40 | 0 | 94 | 89 | 74 | 9 | 1 | 14 | -37 | 6 | 92 | 199 |
Deferred | ||||||||||||
76 | 64 | -232 | 30 | 5 | 17 | -34 | -68 | -92 | -51 | -43 | -20 | 4 |
Income tax expense | ||||||||||||
135 | 105 | -232 | 124 | 94 | 91 | -24 | -66 | -78 | -89 | -37 | 71 | 204 |
Earnings from continuing operations | ||||||||||||
622 | 517 | 593 | 422 | 232 | 207 | 20 | -53 | -75 | -102 | 18 | 3 | 463 |
Earnings (loss) on discontinued operations, net of tax | ||||||||||||
-4 | -2 | 7 | -2 | -11 | -2 | 3 | 1 | 4 | 6 | 11 | -2 | -12 |
Net earnings | ||||||||||||
617 | 515 | 601 | 419 | 221 | 204 | 24 | -52 | -70 | -96 | 30 | 0 | 450 |
Other comprehensive income, net of tax | ||||||||||||
Deferred loss on interest rate derivative | ||||||||||||
0 | 2 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Amortization of prior interest rate derivative loss | ||||||||||||
-0 | -0 | -1 | -1 | -5 | -4 | -2 | -3 | -7 | - | - | - | - |
Adjustment for funded status of benefit plans | ||||||||||||
26 | 0 | 14 | 20 | -23 | 69 | -111 | 24 | 54 | -3 | -17 | -154 | - |
Amortization of actuarial loss and prior service cost for benefit plans | ||||||||||||
1 | 4 | 2 | 0 | 11 | 2 | -11 | -11 | -7 | 3 | 1 | 0 | - |
Other comprehensive income (loss) | ||||||||||||
-25 | 6 | -10 | -19 | 41 | -62 | 125 | -8 | -39 | 17 | -9 | -154 | - |
Fair value adjustments to cash flow hedges | ||||||||||||
- | - | - | - | - | - | - | - | - | -0 | -2 | -2 | - |
Reclassification adjustment for cash flow hedges | ||||||||||||
- | - | - | - | - | - | - | - | - | 10 | -9 | -1 | - |
Comprehensive income | ||||||||||||
592 | 522 | 591 | 400 | 262 | 142 | 150 | -61 | -110 | -79 | 21 | -153 | - |
Basic earnings (loss) per share | ||||||||||||
Continuing operations | ||||||||||||
4.71 | 3.91 | 4.48 | 3.17 | 1.75 | 1.58 | 0.16 | -0.42 | -0.58 | -0.80 | 0.16 | 0.03 | 4.77 |
Discontinued operations | ||||||||||||
-0.04 | -0.01 | 0.06 | -0.02 | -0.09 | -0.02 | 0.03 | 0.01 | 0.03 | 0.05 | 0.09 | -0.02 | -0.12 |
Net earnings | ||||||||||||
4.67 | 3.90 | 4.54 | 3.15 | 1.66 | 1.56 | 0.19 | -0.41 | -0.55 | -0.75 | 0.25 | 0.01 | 4.65 |
Diluted earnings (loss) per share | ||||||||||||
Continuing operations | ||||||||||||
4.67 | 3.87 | 4.40 | 3.11 | 1.72 | 1.56 | 0.16 | -0.42 | -0.58 | -0.80 | 0.16 | 0.03 | 4.66 |
Discontinued operations | ||||||||||||
-0.04 | -0.02 | 0.06 | -0.02 | -0.08 | -0.02 | 0.03 | 0.01 | 0.03 | 0.05 | 0.09 | -0.02 | -0.12 |
Net earnings | ||||||||||||
4.63 | 3.85 | 4.46 | 3.09 | 1.64 | 1.54 | 0.19 | -0.41 | -0.55 | -0.75 | 0.25 | 0.01 | 4.54 |
Weighted-average common shares outstanding | ||||||||||||
Basic | ||||||||||||
132 | 132 | 132 | 133 | 133 | 131 | 130 | 129 | 129 | 128 | 118 | 109 | 97 |
Assuming dilution | ||||||||||||
133 | 133 | 134 | 135 | 135 | 132 | 131 | 129 | 129 | 128 | 119 | 110 | 99 |
Cash dividends per share of common stock | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 1.48 | 1.96 | 1.84 |