Notes to Consolidated Financial Statements
16. SUPPLEMENTAL FINANCIAL STATEMENT DATA
Supplemental income statement, balance sheet and cash flow information follows:
| (millions) | 2006 | 2005 | ||||
|---|---|---|---|---|---|---|
| Inventories Finished products and work-in-process |
$ | 233.5 | $ | 187.0 | ||
| Raw materials | 172.2 | 157.0 | ||||
| $ | 405.7 | $ | 344.0 | |||
| Prepaid expenses | $ | 21.6 | $ | 19.2 | ||
| Other current assets | 44.0 | 37.4 | ||||
| $ | 65.6 | $ | 56.6 | |||
| Property, plant and equipment Land and improvements |
$ | 28.0 | $ | 28.4 | ||
| Buildings | 263.8 | 263.9 | ||||
| Machinery and equipment | 431.1 | 416.0 | ||||
| Software | 177.0 | 125.6 | ||||
| Construction in progress | 66.0 | 78.9 | ||||
| Accumulated depreciation | (496.4 | ) | (462.0 | ) | ||
| $ | 469.5 | $ | 450.8 | |||
| Investments and other assets Investments in affiliates |
$ | 51.8 | $ | 71.9 | ||
| Other investments | 44.5 | 36.1 | ||||
| Other assets | 59.9 | 49.2 | ||||
| $ | 156.2 | $ | 157.2 | |||
| Other accrued liabilities Payroll and employee benefits |
$ | 105.5 | $ | 63.1 | ||
| Sales allowances | 124.6 | 126.5 | ||||
| Income taxes | 44.2 | 25.4 | ||||
| Other | 200.4 | 179.7 | ||||
| $ | 474.7 | $ | 394.7 | |||
| Other long-term liabilities Pension |
$ | 104.2 | $ | 97.8 | ||
| Postretirement benefits | 89.7 | 86.9 | ||||
| Deferred taxes | 68.1 | 79.2 | ||||
| Other | 19.0 | 16.8 | ||||
| $ | 281.0 | $ | 280.7 | |||
| (millions) | 2006 | 2005 | 2004 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Depreciation | $ | 73.7 | $ | 64.5 | $ | 62.2 | |||
| Interest paid | 52.1 | 49.1 | 41.0 | ||||||
| Income taxes paid | 70.9 | 78.9 | 77.6 | ||||||
| Interest capitalized | – | 2.1 | 2.7 | ||||||
| (millions) | 2006 | 2005 | ||||
|---|---|---|---|---|---|---|
| Accumulated other comprehensive income, net of tax where applicable Foreign currency translation adjustment |
$ | 223.4 | $ | 113.4 | ||
| Unrealized gain (loss) on foreign currency exchange contracts |
.2 | (.5 | ) | |||
| Fair value of open interest rate swaps | (3.1 | ) | (3.7 | ) | ||
| Unamortized value of settled interest rate swaps |
(.7 | ) | (1.7 | ) | ||
| Minimum pension liability adjustment | (79.5 | ) | (79.9 | ) | ||
| $ | 140.3 | $ | 27.6 | |||
Dividends paid per share were $0.72 in 2006, $0.64 in 2005 and $0.56 in 2004.
17. SELECTED QUARTERLY DATA (UNAUDITED)
| (millions except per share data) | First | Second | Third | Fourth | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2006 Net sales |
$ | 609.7 | $ | 639.9 | $ | 663.1 | $ | 803.7 | ||||
| Gross profit | 239.1 | 250.6 | 269.3 | 355.6 | ||||||||
| Operating income | 24.3 | 54.7 | 64.2 | 126.5 | ||||||||
| Net income | 14.4 | 61.6 | 43.1 | 83.1 | ||||||||
| Basic earnings per share | .11 | .47 | .33 | .64 | ||||||||
| Diluted earnings per share | .11 | .46 | .32 | .62 | ||||||||
| Dividends paid per share – Common Stock and Common Stock Non-Voting |
.18 | .18 | .18 | .18 | ||||||||
| Market price – Common Stock High |
33.50 | 35.17 | 36.25 | 38.75 | ||||||||
| Low | 29.80 | 32.70 | 32.52 | 36.31 | ||||||||
| Market price – Common Stock Non-Voting High |
33.37 | 35.35 | 36.42 | 38.92 | ||||||||
| Low | 29.82 | 32.72 | 32.54 | 36.42 | ||||||||
| 2005 Net sales |
$ | 603.6 | $ | 628.6 | $ | 622.7 | $ | 737.1 | ||||
| Gross profit | 228.2 | 241.3 | 243.3 | 323.8 | ||||||||
| Operating income | 58.0 | 71.2 | 78.9 | 135.4 | ||||||||
| Net income | 36.1 | 42.8 | 48.0 | 88.0 | ||||||||
| Basic earnings per share | .27 | .32 | .36 | .66 | ||||||||
| Diluted earnings per share | .26 | .31 | .35 | .65 | ||||||||
| Dividends paid per share – Common Stock and Common Stock Non-Voting |
.16 | .16 | .16 | .16 | ||||||||
| Market price – Common Stock High |
39.00 | 38.05 | 34.68 | 33.50 | ||||||||
| Low | 36.60 | 33.58 | 31.70 | 29.00 | ||||||||
| Market price – Common Stock Non-Voting High |
39.06 | 38.25 | 34.81 | 33.53 | ||||||||
| Low | 36.00 | 33.56 | 31.66 | 29.24 | ||||||||