| For the years ended December 31 ($ millions except where otherwise indicated) |
2008 | 2007 | ||
|---|---|---|---|---|
Sales |
$ | 32,088 | $ | 30,607 |
Operating Expenses |
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| Cost of sales, selling and administrative expenses (notes 2 & 14 PDFs) | 30,248 | 28,867 | ||
| Depreciation and amortization | 643 | 650 | ||
| Restructuring and other charges (note 4 PDF) | 5 | 215 | ||
| 30,896 | 29,732 | |||
Operating Income |
1,192 | 875 | ||
| Gain on disposal of business (note 7 PDF) | 335 | |||
| 1,527 | 875 | |||
| Interest Expense and Other Financing Charges (note 5 PDF) | 360 | 175 | ||
Earnings from Continuing Operations Before the Following: |
1,167 | 700 | ||
| Income Taxes (note 8 PDF) | 303 | 196 | ||
| 864 | 504 | |||
| Minority Interest | 219 | 130 | ||
Net Earnings from Continuing Operations |
645 | 374 | ||
Discontinued Operations(note 10 PDF) |
187 | 189 | ||
Net Earnings |
$ | 832 | $ | 563 |
Net Earnings per Common Share – Basic and Diluted($) |
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| Continuing Operations (note 9 PDF) | $ | 4.63 | $ | 2.46 |
| Discontinued Operations | $ | 1.45 | $ | 1.46 |
| Net Earnings | $ | 6.08 | $ | 3.92 |
See accompanying notes to the consolidated financial statements. |
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