CONSOLIDATED STATEMENTS OF EARNINGS
| YEAR ENDED JUNE 30 |
 |
|
|
2006 |
|
|
|
|
2005 |
|
|
2004 |
|
|
| (In millions, except per share data) |
|
|
|
|
|
|
|
| Net Sales |
|
|
|
$ |
6,463.8 |
|
|
|
|
$ |
6,280.0 |
|
|
$ |
5,741.5 |
|
| Cost of sales |
|
|
|
|
1,686.6 |
|
|
|
|
|
1,602.8 |
|
|
|
1,464.3 |
|
|
| Gross Profit |
|
|
|
|
4,777.2 |
|
|
|
|
|
4,677.2 |
|
|
|
4,277.2 |
|
|
| Operating expenses: |
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
|
|
4,065.5 |
|
|
|
|
|
3,950.4 |
|
|
|
3,609.5 |
|
| Special charges related to cost savings initiative |
|
|
|
|
92.1 |
|
|
|
|
|
- |
|
|
|
- |
|
| Related party royalties |
|
|
|
|
- |
|
|
|
|
|
- |
|
|
|
18.8 |
|
|
|
|
|
|
|
4,157.6 |
|
|
|
|
|
3,950.4 |
|
|
|
3,628.3 |
|
|
| Operating Income |
|
|
|
|
619.6 |
|
|
|
|
|
726.8 |
|
|
|
648.9 |
|
| Interest expense, net |
|
|
|
|
23.8 |
|
|
|
|
|
13.9 |
|
|
|
27.1 |
|
|
| Earnings before Income Taxes, Minority Interest and |
|
|
|
|
|
|
|
| Discontinued Operations |
|
|
|
|
595.8 |
|
|
|
|
|
712.9 |
|
|
|
621.8 |
|
| Provision for income taxes |
|
|
|
|
259.7 |
|
|
|
|
|
293.7 |
|
|
|
234.4 |
|
| Minority interest, net of tax |
|
|
|
|
(11.6 |
) |
|
|
|
|
(9.3 |
) |
|
|
(8.9 |
) |
|
| Net Earnings from Continuing Operations |
|
|
|
|
324.5 |
|
|
|
|
|
409.9 |
|
|
|
378.5 |
|
| Discontinued operations, net of tax |
|
|
|
|
(80.3 |
) |
|
|
|
|
(3.8 |
) |
|
|
(36.4 |
) |
|
| Net Earnings |
|
|
|
$ |
244.2 |
|
|
|
|
$ |
406.1 |
|
|
$ |
342.1 |
|
|
| Basic net earnings per common share: |
|
|
|
|
|
|
|
| Net earnings from continuing operations |
|
|
|
$ |
1.51 |
|
|
|
|
$ |
1.82 |
|
|
$ |
1.66 |
|
| Discontinued operations, net of tax |
|
|
|
|
(.37 |
) |
|
|
|
|
(.02 |
) |
|
|
(.16 |
) |
|
| Net earnings |
|
|
|
$ |
1.14 |
|
|
|
|
$ |
1.80 |
|
|
$ |
1.50 |
|
|
| Diluted net earnings per common share: |
|
|
|
|
|
|
|
| Net earnings from continuing operations |
|
|
|
$ |
1.49 |
|
|
|
|
$ |
1.80 |
|
|
$ |
1.64 |
|
| Discontinued operations, net of tax |
|
|
|
|
(.37 |
) |
|
|
|
|
(.02 |
) |
|
|
(.16 |
) |
|
| Net earnings |
|
|
|
$ |
1.12 |
|
|
|
|
$ |
1.78 |
|
|
$ |
1.48 |
|
|
| Weighted average common shares outstanding: |
|
|
|
|
|
|
|
| Basic |
|
|
|
|
215.0 |
|
|
|
|
|
225.3 |
|
|
|
228.2 |
|
| Diluted |
|
|
|
|
217.4 |
|
|
|
|
|
228.6 |
|
|
|
231.6 |
|
| |
|
|
|
|
|
|
|
| Cash dividends declared per share |
|
|
|
$ |
.40 |
|
|
|
|
$ |
.40 |
|
|
$ |
.30 |
|
|
