XML 17 R1.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Net sales$ 1,862$ 1,689$ 5,540$ 4,905
Manufacturing, shipping, and delivery expense(1,475)(1,329)(4,465)(3,863)
Gross profit3873601,0751,042
Selling and administrative expense(138)(124)(426)(367)
Research, development, and engineering expense(18)(14)(52)(43)
Interest expense(70)(61)(246)(177)
Interest income22810
Equity earnings19205246
Royalties and net technical assistance441212
Other income27610
Other expense(40)(6)(66)(28)
Earnings from continuing operations before income taxes148188363505
Provision for income taxes(25)(53)(85)(136)
Earnings from continuing operations123135278369
Earnings (loss) from discontinued operations(3)16(2)31
Net earnings120151276400
Net earnings attributable to noncontrolling interests(4)(12)(15)(35)
Net earnings attributable to the Company116139261365
Amounts attributable to the Company:    
Earnings from continuing operations119127263341
Earnings (loss) from discontinued operations(3)12(2)24
Net earnings attributable to the Company116139261365
Amounts attributable to noncontrolling interests:    
Earnings from continuing operations481528
Earnings from discontinued operations 4 7
Net earnings4121535
Basic earnings per share:    
Earnings from continuing operations (in dollars per share)$ 0.73$ 0.78$ 1.60$ 2.07
Earnings (loss) from discontinued operations (in dollars per share)$ (0.02)$ 0.07$ (0.01)$ 0.14
Net earnings (in dollars per share)$ 0.71$ 0.85$ 1.59$ 2.21
Weighted average shares outstanding (thousands) (in shares)163,812163,079163,602164,638
Diluted earnings per share:    
Earnings from continuing operations (in dollars per share)$ 0.72$ 0.77$ 1.58$ 2.04
Earnings (loss) from discontinued operations (in dollars per share)$ (0.02)$ 0.07$ (0.01)$ 0.14
Net earnings (in dollars per share)$ 0.70$ 0.84$ 1.57$ 2.18
Weighted average diluted shares outstanding (thousands) (in shares)165,695165,591166,017167,558
Comprehensive income, net of tax:    
Net earnings120151276400
Foreign currency translation adjustments(358)276(162)84
Pension and other postretirement benefit adjustments39118568
Change in fair value of derivative instruments(2)(4)(1)(5)
Total comprehensive income (loss)(201)434198547
Comprehensive income attributable to noncontrolling interests2(22)(18)(43)
Comprehensive income (loss) attributable to the Company$ (199)$ 412$ 180$ 504