Issue link: http://catalog.e-digitaleditions.com/i/275023
9 Dollar amounts in millions except per share amounts or as otherwise specified ITEM 6. SELECTED FINANCIAL DATA. Selected financial data for each of the five years in the period ended December 31, 2013 is as follows: CONSOLIDATED OPERATIONS 2013 2012 2011 2010 2009 Net sales $ 9,021 $ 8,657 $ 8,307 $ 7,320 $ 6,723 Cost of sales 2,977 2,781 2,811 2,286 2,184 Gross profit 6,044 5,876 5,496 5,034 4,539 Research, development and engineering expenses 536 471 462 394 336 Selling, general and administrative expenses 4,066 3,466 3,150 2,707 2,506 Intangibles amortization 138 123 122 58 36 Other (a) 48 75 76 124 67 4,788 4,135 3,810 3,283 2,945 Operating income 1,256 1,741 1,686 1,751 1,594 Other income (expense) (44 ) (36 ) — (22 ) 30 Earnings before income taxes 1,212 1,705 1,686 1,729 1,624 Income taxes 206 407 341 456 517 Net earnings $ 1,006 $ 1,298 $ 1,345 $ 1,273 $ 1,107 PER SHARE DATA Net earnings per share of common stock: Basic $ 2.66 $ 3.41 $ 3.48 $ 3.21 $ 2.79 Diluted $ 2.63 $ 3.39 $ 3.45 $ 3.19 $ 2.77 Dividends per share of common stock: Declared $ 1.10 $ 0.9025 $ 0.7525 $ 0.63 $ 0.25 Paid $ 1.06 $ 0.85 $ 0.72 $ 0.60 $ 0.50 Average number of shares outstanding—in millions: Basic 378.6 380.6 386.5 396.4 397.4 Diluted 382.1 383.0 389.5 399.5 399.4 CONSOLIDATED FINANCIAL POSITION Cash, cash equivalents and current marketable securities $ 3,980 $ 4,285 $ 3,418 $ 4,380 $ 2,955 Accounts receivable—net 1,518 1,430 1,417 1,252 1,147 Inventory—net 1,422 1,265 1,283 1,057 943 Property, plant and equipment—net 1,081 948 888 798 948 Capital expenditures 195 210 226 182 131 Depreciation and amortization 511 486 481 410 385 Total assets 15,743 13,206 12,146 10,895 9,071 Accounts payable—net 314 288 345 292 200 Total debt 2,764 1,762 1,768 1,021 18 Shareholders' equity 9,047 8,597 7,683 7,174 6,595 Net cash provided by operating activities 1,886 1,657 1,434 1,547 1,461 OTHER DATA Number of shareholders of record 3,612 4,258 4,508 4,586 4,607 Approximate number of employees 25,000 22,000 21,000 20,000 19,000 (a) Includes restructuring and asset impairment charges.