For the year ended November 30 (millions except per share data)
2013 | 2012 | % Change | |
---|---|---|---|
Net Sales | $4,123.4 | $4,014.2 | 2.7% |
Gross profit | 1,665.8 | 1,617.8 | 3.0% |
Gross profit margin | 40.4% | 40.3% | |
Operating income | 550.5 | 578.3 | (4.8%) |
Operating income margin | 13.4% | 14.4% | |
Net Income | 389.0 | 407.8 | (4.6%) |
Earnings per share—diluted | 2.91 | 3.04 | (4.3%) |
Dividends paid | 179.9 | 164.7 | 9.2% |
Dividends paid per share | 1.36 | 1.24 | 9.7% |
We are providing below certain non-GAAP financial results excluding items affecting comparability. The details of these adjustments are provided in the Non-GAAP Financial Measures of the Management’s Discussion & Analysis on pages 32 and 33.
2013 | 2012 | % Change | |
---|---|---|---|
Adjusted operating income | $590.8 | $578.3 | 2.2% |
Adjusted operating income margin | 14.3% | 14.4% | |
Adjusted net income | 418.2 | 407.8 | 2.6% |
Adjusted earnings per share | 3.13 | 3.04 | 3.0% |
Sales in emerging markets accounted for 15% of total company sales in 2013, up from 10% of sales just two years ago.
Innovation is a key growth initiative and new products launched in the past three years accounted for 9% of 2013 sales.
We are proud of our safety record, which has improved by 30% since 2010 and is ahead of industry averages.
Digital marketing is one of our most effective ways to drive sales of our brands. In 2013, our digital marketing spending rose to $30 million, more than double the amount spent in 2011.
As evidence of the increasing interest in health and wellness, one-third of industrial new product projects included a wellness attribute this year.