XML 38 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 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS        
Net sales $ 1,797 $ 1,781 $ 3,436 $ 3,422
Cost of goods sold (1,439) (1,412) (2,757) (2,734)
Gross profit 358 369 679 688
Selling and administrative expense (131) (129) (264) (258)
Research, development and engineering expense (17) (15) (32) (30)
Interest expense, net (54) (56) (108) (124)
Equity earnings 19 16 35 33
Other income (expense), net 4 (8) 3 (15)
Earnings from continuing operations before income taxes 179 177 313 294
Provision for income taxes (39) (37) (66) (70)
Earnings from continuing operations 140 140 247 224
Loss from discontinued operations (20) (3) (21) (13)
Net earnings 120 137 226 211
Net earnings attributable to noncontrolling interests (6) (5) (11) (10)
Net earnings attributable to the Company 114 132 215 201
Amounts attributable to the Company:        
Earnings from continuing operations 134 135 236 214
Loss from discontinued operations (20) (3) (21) (13)
Net earnings $ 114 $ 132 $ 215 $ 201
Basic earnings per share:        
Earnings from continuing operations $ 0.81 $ 0.82 $ 1.43 $ 1.30
Loss from discontinued operations $ (0.12) $ (0.02) $ (0.13) $ (0.08)
Net earnings $ 0.69 $ 0.80 $ 1.30 $ 1.22
Weighted average shares outstanding 164,906 164,369 164,833 164,220
Diluted earnings per share:        
Earnings from continuing operations $ 0.80 $ 0.81 $ 1.42 $ 1.29
Loss from discontinued operations $ (0.12) $ (0.02) $ (0.13) $ (0.08)
Net earnings $ 0.68 $ 0.79 $ 1.29 $ 1.21
Weighted average diluted shares outstanding 166,258 165,731 166,212 165,617