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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 $ 2,704 $ 2,623 $ 2,505
Cost of products and services sold 1,343 1,276 1,181
Gross profit 1,361 1,347 1,324
Selling, general and administrative expenses 612 605 597
Research and development expenses 66 69 72
Restructuring and other charges 22 14 8
Operating income 661 659 647
Interest, net 4 4 7
Total income before taxes 657 655 640
Provision for income taxes 166 195 183
Net income $ 491 $ 460 $ 457
Net income per share - Basic (in dollars per share) $ 4.09 $ 3.80 $ 3.78
Net income per share - Diluted (in dollars per share) $ 4.06 $ 3.77 $ 3.72
Weighted average number of shares outstanding - Basic 120 121 121
Weighted average number of shares outstanding - Diluted 121 122 123
Dividends per share $ 0.86 $ 0.80 $ 0.72