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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net sales $ 2,623 $ 2,505 $ 2,271
Cost of products and services sold 1,276 1,181 1,075
Gross profit 1,347 1,324 1,196
Selling, general and administrative expenses 605 597 548
Research and development expenses 69 72 66
Restructuring costs 9 8 24
Impairment charge 0 0 7
Acquisition transaction costs 5 0 0
Operating income 659 647 551
Interest, net 4 7 7
Total income before taxes 655 640 544
Provision for income taxes 195 183 160
Net income $ 460 $ 457 $ 384
Net income per share - Basic (in dollars per share) $ 3.80 $ 3.78 $ 3.17
Net income per share - Diluted (in dollars per share) $ 3.77 $ 3.72 $ 3.12
Weighted average number of shares outstanding - Basic 121 121 121
Weighted average number of shares outstanding - Diluted 122 123 123
Dividends per share $ 0.80 $ 0.72 $ 0.64