XML 48 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS        
Net sales $ 1,784 $ 1,747 $ 5,206 $ 5,252
Manufacturing, shipping and delivery expense (1,432) (1,405) (4,166) (4,156)
Gross profit 352 342 1,040 1,096
Selling and administrative expense (119) (131) (377) (410)
Research, development and engineering expense (15) (13) (45) (45)
Interest expense (56) (61) (184) (187)
Interest income 2 2 6 7
Equity earnings 16 16 49 47
Royalties and net technical assistance 4 4 12 13
Other income 8 4 14 10
Other expense (14) (36) (43) (55)
Earnings from continuing operations before income taxes 178 127 472 476
Provision for income taxes (40) (28) (110) (113)
Earnings from continuing operations 138 99 362 363
Loss from discontinued operations (2) (2) (15) (4)
Net earnings 136 97 347 359
Net earnings attributable to noncontrolling interests (6) (7) (16) (15)
Net earnings attributable to the Company 130 90 331 344
Amounts attributable to the Company:        
Earnings from continuing operations 132 92 346 348
Loss from discontinued operations (2) (2) (15) (4)
Net earnings $ 130 $ 90 $ 331 $ 344
Basic earnings per share:        
Earnings from continuing operations (in dollars per share) $ 0.80 $ 0.55 $ 2.10 $ 2.11
Loss from discontinued operations (in dollars per share) $ (0.01) $ (0.01) $ (0.09) $ (0.03)
Net earnings (in dollars per share) $ 0.79 $ 0.54 $ 2.01 $ 2.08
Weighted average shares outstanding (thousands) (in shares) 164,546 164,800 164,330 164,614
Diluted earnings per share:        
Earnings from continuing operations (in dollars per share) $ 0.79 $ 0.55 $ 2.08 $ 2.10
Loss from discontinued operations (in dollars per share) $ (0.01) $ (0.01) $ (0.09) $ (0.03)
Net earnings (in dollars per share) $ 0.78 $ 0.54 $ 1.99 $ 2.07
Weighted average diluted shares outstanding (thousands) (in shares) 165,981 165,765 165,739 165,964