Financial highlights
The following selected financial data should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of our form 10-K. The Statement of Operations, Statement of Financial Position and other data have been derived from our audited financial statements. Certain prior period information has been reclassified to conform to the current year presentation and to reflect the results of the divested Rollmet business as a discontinued operation.
Years Ended September 30 | ||||||||||
(dollars in millions, except per share amounts) |
2012(a) |
2011(b) |
2010(c) |
2009(d) |
2008(e) |
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Statement of Operations Data: |
||||||||||
Sales |
$ |
4,726 |
$ |
4,806 |
$ |
4,631 |
$ |
4,428 |
$ |
4,734 |
Cost of sales |
3,324 |
3,427 |
3,353 |
3,118 |
3,308 |
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Selling, general and administrative expenses |
543 |
533 |
476 |
457 |
484 |
|||||
Income from continuing operations |
609 |
615 |
557 |
589 |
673 |
|||||
Income from discontinued operations, net of taxes |
— |
19 |
4 |
5 |
5 |
|||||
Net income |
609 |
634 |
561 |
594 |
678 |
|||||
Net income as a percent of sales |
12.9% |
13.2% |
12.1% |
13.4% |
14.3% |
|||||
Diluted earnings per share from continuing operations |
4.15 |
3.94 |
3.50 |
3.70 |
4.13 |
|||||
Statement of Financial Position Data: |
||||||||||
Working capital(f) |
$ |
1,347 |
$ |
1,394 |
$ |
1,237 |
$ |
1,003 |
$ |
598 |
Property |
773 |
754 |
707 |
719 |
680 |
|||||
Goodwill and intangible assets |
1,071 | 1,088 | 1,072 | 964 | 807 | |||||
Total assets |
5,314 |
5,389 |
5,064 |
4,645 |
4,144 |
|||||
Short-term debt |
— |
— |
24 |
— |
287 |
|||||
Long-term debt |
779 |
528 |
525 |
532 |
228 |
|||||
Shareowners' equity |
1,259 |
1,523 |
1,482 |
1,292 |
1,408 |
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Other Data: |
||||||||||
Capital expenditures |
$ |
138 |
$ |
152 |
$ |
109 |
$ |
153 |
$ |
171 |
Depreciation and amortization |
174 |
159 |
167 |
151 |
138 |
|||||
Dividends per share |
1.08 |
0.96 |
0.96 |
0.96 |
0.80 |
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Stock Price: |
||||||||||
High |
$ |
61.46 |
$ |
67.29 |
$ |
68.04 |
$ |
51.37 |
$ |
76.00 |
Low |
46.37 |
43.82 |
47.19 |
27.67 |
43.26 |