Issue link: http://catalog.e-digitaleditions.com/i/467674
ITEM 6. SELECTED FINANCIAL DATA. Selected financial data for each of the five years ended December 31, 2014 is as follows: CONSOLIDATED OPERATIONS 2014 2013 2012 2011 2010 Net sales $ 9,675 $ 9,021 $ 8,657 $ 8,307 $ 7,320 Cost of sales 3,291 2,977 2,781 2,811 2,286 Gross profit 6,384 6,044 5,876 5,496 5,034 Research, development and engineering expenses 614 536 471 462 394 Selling, general and administrative expenses 3,575 3,492 3,367 3,226 2,831 Recall charges, net of insurance recoveries 761 622 174 — — Intangibles amortization 188 138 123 122 58 5,138 4,788 4,135 3,810 3,283 Operating income 1,246 1,256 1,741 1,686 1,751 Other income (expense) (86 ) (44 ) (36 ) — (22 ) Earnings before income taxes 1,160 1,212 1,705 1,686 1,729 Income taxes 645 206 407 341 456 Net earnings $ 515 $ 1,006 $ 1,298 $ 1,345 $ 1,273 PER SHARE DATA Net earnings per share of common stock: Basic $ 1.36 $ 2.66 $ 3.41 $ 3.48 $ 3.21 Diluted $ 1.34 $ 2.63 $ 3.39 $ 3.45 $ 3.19 Dividends per share of common stock: Declared $ 1.26 $ 1.10 $ 0.90 $ 0.75 $ 0.63 Paid $ 1.22 $ 1.06 $ 0.85 $ 0.72 $ 0.60 Average number of shares outstanding—in millions: Basic 378.5 378.6 380.6 386.5 396.4 Diluted 382.8 382.1 383.0 389.5 399.5 CONSOLIDATED FINANCIAL POSITION Cash, cash equivalents and current marketable securities $ 5,000 $ 3,980 $ 4,285 $ 3,418 $ 4,380 Accounts receivable—net 1,572 1,518 1,430 1,417 1,252 Inventory—net 1,588 1,422 1,265 1,283 1,057 Property, plant and equipment—net 1,098 1,081 948 888 798 Capital expenditures 233 195 210 226 182 Depreciation and amortization 586 511 486 481 410 Total assets 17,713 15,743 13,206 12,146 10,895 Accounts payable 329 314 288 345 292 Total debt 3,973 2,764 1,762 1,768 1,021 Shareholders' equity 8,595 9,047 8,597 7,683 7,174 Net cash provided by operating activities 1,782 1,886 1,657 1,434 1,547 OTHER DATA Number of shareholders of record 3,305 3,612 4,258 4,508 4,586 Approximate number of employees 26,000 25,000 22,000 21,000 20,000 STRYKER CORPORATION 2014 Form 10-K 9 Dollar amounts in millions except per share amounts or as otherwise specified.