 |
| $ Millions, except per share amounts |
2000
|
1999
|
1998
|
1997
|
1996
|
|
| Net sales |
$6,597
|
$6,639
|
$6,266
|
$5,625
|
$5,257
|
| Cost of goods sold |
5,338
|
5,221
|
4,925
|
4,345
|
4,072
|
| Special charges |
-
|
-
|
92
|
-
|
-
|
| Gross profit |
1,259
|
1,418
|
1,249
|
1,280
|
1,185
|
| Selling and administrative expenses |
776
|
781
|
787
|
744
|
725
|
| Research and engineering expenses |
244
|
245
|
255
|
260
|
252
|
| (Income) expense from joint ventures and alliances |
(9)
|
28
|
30
|
(10)
|
-
|
| Interest expense |
86
|
75
|
71
|
26
|
18
|
| Other (income) expense, net |
(1)
|
8
|
(13)
|
(26)
|
(24)
|
| Restructuring, asset impairments |
|
|
|
|
|
| and other special charges |
160
|
60
|
125
|
-
|
-
|
|
| Earnings (loss) before income taxes |
3
|
221
|
(6)
|
286
|
214
|
| (Benefit) Provision for income taxes |
(19)
|
55
|
4
|
74
|
54
|
| Minority interest |
14
|
6
|
11
|
-
|
-
|
|
| Net earnings (loss) |
$8
|
$160
|
$ (21)
|
$212
|
$ 160
|
|
| Net earnings (loss) per share: |
|
|
|
|
|
| Basic |
$ 0.20
|
$ 4.16
|
$ (.55)
|
$ 5.55
|
$ 4.02
|
| Diluted |
0.20
|
4.13
|
(.55)
|
5.48
|
4.01
|
| Number of shares for EPS: |
|
|
|
|
|
| Basic |
38.2
|
38.3
|
38.5
|
38.2
|
39.8
|
| Diluted |
38.2
|
38.6
|
38.5
|
38.7
|
39.9
|
| |
|
|
|
|
|
| Cash dividends per share |
$ 1.20
|
$1.13
|
$ 1.10
|
$1.08
|
$ 1.00
|
| Shareholders' investment per share |
34.9
|
37.44
|
33.11
|
37.05
|
33.24
|
|
| Working capital |
$607
|
$866
|
$805
|
$655
|
$532
|
| Property, plant and equipment, net |
1,598
|
1,630
|
1,671
|
1,532
|
1,286
|
| Total assets |
4,500
|
4,697
|
4,542
|
3,765
|
3,369
|
| Total debt |
1,196
|
1,215
|
1,227
|
654
|
415
|
| Shareholders' investment |
1,336
|
1,429
|
1,272
|
1,422
|
1,312
|
|
| Property, plant and equipment additions |
$228
|
$215
|
$271
|
$405
|
$304
|
| Depreciation and amortization |
240
|
233
|
199
|
158
|
149
|
|
| Shareholders of record |
4,800
|
4,800
|
5,200
|
4,700
|
4,800
|
| Number of employees(a) |
28,000
|
28,500
|
28,300
|
26,300
|
23,500
|
(a) Represents the number of employees
at year-end. At December 31, 1998, the number of employees
included 2,600 employees of Nelson Industries, Inc., which
was acquired in January 1998. At December 31, 1997, number
of employees included 2,800 employees of Cummins India Limited,
which was consolidated in the fourth quarter of 1997.
Earnings per share for 1996 have been
restated to reflect the adoption of SFAS No. 128.
|
|
