Consolidated Statements of Income

(Millions of dollars, except per share data)

Year Ended December 31, 2015 2014 2013
Net sales $20,891 $19,872 $18,769
Expenses
Cost of products sold 17,201 16,477 15,471
Gross margin 3,690 3,395 3,298
Selling, general and administrative 2,130 2,038 1,828
Intangible amortization 74 33 25
Restructuring costs 201 136 196
Operating profit 1,285 1,188 1,249
Other income (expense)
Interest and sundry income (expense) (89) (142) (155)
Interest expense (165) (165) (177)
Earnings before income taxes 1,031 881 917
Income tax expense 209 189 68
Net earnings 822 692 849
Less: Net earnings available to noncontrolling interests 39 42 22
Net earnings available to Whirlpool $783 $650 $827
Per share of common stock
Basic net earnings available to Whirlpool $9.95 $8.30 $10.42
Diluted net earnings available to Whirlpool $9.83 $8.17 $10.24
Weighted-average shares outstanding (in millions)
Basic 78.7 78.3 79.3
Diluted 79.7 79.6 80.8