艾默生Emerson Electric Co. (EMR) 2012年年度报告「AMEX」.pdf

1、The SmarT Difference2012 ANNUAL REPORTFinancial Highlights 1To Our Shareholders 4The Emerson Difference 8Financial Review 18Financial Statements 31Notes to Consolidated Financial Statements 36Report of Independent Registered Public Accounting Firm 55Eleven-Year Summary 56Board of Directors&Managemen

2、t 58Stockholders Information 602012 Annual Report|1*2012 earnings per share of$3.39 excludes the$0.72 goodwill impairment charge.2002 earnings per share is before the$1.12 per share cumulative effect of a change in accounting principle.One-Year PerfOrmanceYears ended September 30 percent Dollars in

3、millions,except per share amounts20112012changeSales$24,222$24,412 1%Net earnings$2,480$1,968(21)%Net earnings per share$3.27$2.67(18)%Net earnings per share excluding goodwill impairment*$3.30$3.39 3%Dividends per share$1.38$1.60 16%Operating cash flow$3,233$3,053(6)%Return on total capital 19.6%15

4、.8%Return on equity 24.6%19.0%five-Year PerfOrmanceYears ended September 30 five-year Dollars in millions,except per share amounts20072012cagrSales$21,013$24,412 3%Net earnings$2,136$1,968(2)%Net earnings per share$2.66$2.67%Net earnings per share excluding goodwill impairment*$2.66$3.39 5%Dividends

5、 per share$1.05$1.60 9%Operating cash flow$3,016$3,053%Return on total capital 20.1%15.8%Return on equity 25.2%19.0%11%Compound annual growth of dividend since 195656Consecutive years of dividend increases$1.60Dividends per share for 2012*Earnings per share excludes goodwill impairment charges of$0.

6、03 and$0.72 in 2011 and 2012,respectively.1956 2012$3.39EarningspErsharE*$1.60dividEndspErsharE2|2012 Annual ReportThe people of Emerson solve problems and create solutions that make our customers and the world better.They are THE SMART DIFFERENCE.2012 Annual Report|3From left:Peter chin Emerson Pro