Consolidated Income Statement
| for the year ended November 30 (millions except per share data) |
2006 |
2005 |
2004 |
| Net sales |
$ |
2,716.4 |
|
$ |
2,592.0 |
|
$ |
2,526.2 |
|
| Cost of goods sold |
|
1,601.8 |
|
|
1,555.4 |
|
|
1,518.3 |
|
| Gross profit |
|
1,114.6 |
|
|
1,036.6 |
|
|
1,007.9 |
|
| Selling, general and administrative expense |
|
772.6 |
|
|
681.9 |
|
|
677.7 |
|
| Restructuring charges (credits) |
|
72.4 |
|
|
11.2 |
|
|
(2.5 |
) |
| Operating income |
|
269.6 |
|
|
343.5 |
|
|
332.7 |
|
| Interest expense |
|
53.7 |
|
|
48.2 |
|
|
41.0 |
|
| Other income, net |
|
7.1 |
|
|
0.4 |
|
|
2.1 |
|
| Income from consolidated operations before income taxes |
|
223.0 |
|
|
295.7 |
|
|
293.8 |
|
| Income taxes |
|
64.7 |
|
|
96.7 |
|
|
89.0 |
|
| Net income from consolidated operations |
|
158.3 |
|
|
199.0 |
|
|
204.8 |
|
| Gain on sale of unconsolidated operations |
|
26.8 |
|
|
- |
|
|
- |
|
| Income from unconsolidated operations |
|
19.9 |
|
|
20.6 |
|
|
14.6 |
|
| Minority interest |
|
2.8 |
|
|
4.7 |
|
|
4.9 |
|
| Net income |
$ |
202.2 |
|
$ |
214.9 |
|
$ |
214.5 |
|
| Earnings per share - basic |
$ |
1.53 |
|
$ |
1.60 |
|
$ |
1.57 |
|
| Earnings per share - diluted |
$ |
1.50 |
|
$ |
1.56 |
|
$ |
1.52 |
|
See Notes to Consolidated Financial Statements
