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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net sales $ 9,764.4 $ 10,405.3 $ 10,935.4
Other revenue 190.6 [1] 156.1 [1] 164.1 [1]
Total revenue 9,955.0 10,561.4 11,099.5
Costs, expenses and other:      
Cost of sales 3,772.5 4,103.1 4,065.0
Selling, general and administrative expenses 5,713.2 5,889.3 5,942.5
Impairment of goodwill and intangible asset 42.1 44.0 0
Operating profit 427.2 525.0 1,092.0
Interest expense 120.6 104.3 92.9
Loss on extinguishment of debt 86.0 0 0
Interest income (25.9) (15.1) (16.4)
Other expense, net 83.9 7.1 35.4
Total other expenses 264.6 96.3 111.9
Income from continuing operations, before taxes 162.6 [2] 428.7 980.1
Income taxes (163.6) (335.4) (304.5)
(Loss) income from continuing operations, net of tax (1.0) [2],[3] 93.3 675.6
Loss from discontinued operations, net of tax (50.9) (131.5) (157.8)
Net (loss) income (51.9) (38.2) 517.8
Net income attributable to noncontrolling interests (4.5) [2],[3] (4.3) (4.2)
Net (loss) income attributable to Avon $ (56.4) [2],[3] $ (42.5) $ 513.6
(Loss) earnings per share:      
Basic from continuing operations $ (0.01) [2],[3],[4] $ 0.20 [2],[3],[4] $ 1.55
Basic from discontinued operations $ (0.12) $ (0.30) $ (0.37)
Basic attributable to Avon $ (0.13) $ (0.10) $ 1.18
Diluted from continuing operations $ (0.01) [2],[3],[4] $ 0.20 [2],[3],[4] $ 1.54
Diluted from discontinued operations $ (0.12) $ (0.30) $ (0.36)
Diluted attributable to Avon $ (0.13) $ (0.10) $ 1.18
Weighted-average shares outstanding:      
Basic 433.4 431.9 430.5
Diluted 433.4 432.5 432.1
[1] Other revenue primarily includes shipping and handling and order processing fees billed to Representatives.
[2] In addition to the items impacting operating profit (loss) above, income (loss) from continuing operations, before taxes during 2013 was impacted by a one-time, after-tax loss of $50.7 ($34.1 in other expense, net and $16.6 in income taxes) recorded in the first quarter, primarily reflecting the write-down of monetary assets and liabilities and deferred tax benefits due to the devaluation of Venezuelan currency. Income (loss) from continuing operations, before taxes during 2013 was also impacted by a loss on extinguishment of debt of $73.0 before tax in the first quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs associated with the prepayment of our Private Notes (as defined in Note 5, Debt and Other Financing), as well as the write-off of debt issuance costs associated with the early repayment of $380.0 of the outstanding principal amount of the term loan agreement (as defined in Note 5, Debt and Other Financing). In addition, income (loss) from continuing operations, before taxes during 2013 was impacted by a loss on extinguishment of debt of $13.0 before tax in the second quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs and discounts, partially offset by a deferred gain associated with the January 2013 interest-rate swap agreement termination, associated with the prepayment of the 2014 Notes (as defined in Note 5, Debt and Other Financing).In addition, income (loss) from continuing operations, before taxes during 2012 was impacted by a benefit of $23.8 to other expense, net in 2012 due to the release of a provision in the fourth quarter associated with the excess cost of acquiring U.S. dollars in Venezuela at the regulated market rate as compared with the official exchange rate. This provision was released as the Company capitalized the associated intercompany liabilities.
[3] (Loss) income from continuing operations, net of tax during 2013 was impacted by valuation allowances for deferred tax assets of $41.8 related to Venezuela in the fourth quarter of 2013 and $9.2 related to the China business in the third quarter of 2013, and during 2012 was impacted by an additional provision for income taxes of $168.3. During the fourth quarter of 2012, we determined that the Company may repatriate offshore cash to meet certain domestic funding needs. Accordingly, we are no longer asserting that the undistributed earnings of foreign subsidiaries are indefinitely reinvested.
[4] The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.