| Year Ended December 31 |
2002 |
2001(a) |
2000(b) |
| Sales |
$4,394.0 |
$4,245.6 |
$4,474.9 |
| Operating Income |
370.1 |
247.8 |
503.3 |
| Net Earnings |
229.7 |
108.0 |
282.0 |
| Net Earnings Per Common Share - Assuming Dilution |
$2.84 |
$1.33 |
$3.34 |
| Dividends Per Share |
$0.48 |
$0.48 |
$0.48 |
Shares Used in Computing Diluted Earnings Per Share
(in millions) |
80.9 |
81.1 |
88.4 |
(a) Earnings for 2002 and 2001 include a restructuring charge of $50.7 million and $99.8 million before taxes, respectively ($31.7 million and $70.6 million after taxes, respectively). Earnings for 2000 include a restructuring charge of $39.1 million before taxes ($27.6 million after taxes) and a gain on sale of business of $20.1 million before taxes ($13.1 million after taxes). Effective January 1, 2002, the Corporation adopted Statement of Financial Accounting Standards (SFAS) No. 142, Goodwill and Other Intangible Assets. Under SFAS No. 142, goodwill and other intangible assets deemed to have indefinite lives are no longer amortized. Earnings for 2001 and 2000 include goodwill amortization of $26.4 million and $25.4 million, respectively. Excluding these non-recurring items, and for 2001 and 2000 goodwill amortization, net earnings would have been $261.4 million, $205.0 million, and $321.9 million for 2002, 2001, and 2000, respectively, or $3.23, $2.53, and $3.81 per share on a diluted basis, respectively. |
OUTSTANDING FINANCIAL PERFORMANCE: