艾默生Emerson Electric Co. (EMR) 2015年年度报告「AMEX」.pdf

1、ONE-YEAR PERFORMANCEYears ended September 30 PERCENT Dollars in millions,except per share amounts 2014 2015 CHANGESales$24,537$22,304(9)%Net earnings$2,147$2,710 26%Diluted earnings per share$3.03$3.99 32%Adjusted diluted earnings per share*$3.75$3.17(15)%Dividends per share$1.72$1.88 9%Operating ca

2、sh flow$3,692$2,529(32)%Return on total capital 17.5%22.8%Return on equity 20.7%29.8%*Adjusted earnings per share exclude divestiture gains of$0.90 and costs related to the planned spinoff of the network power systems business of$(0.08)in 2015,and a goodwill impairment charge of$0.72 in 2014.FIVE-YE

3、AR PERFORMANCEYears ended September 30 FIVE-YEAR Dollars in millions,except per share amounts 2010 2015 CAGRSales$21,039$22,304 1%Net earnings$2,164$2,710 5%Diluted earnings per share$2.84$3.99 7%Adjusted diluted earnings per share*$2.84$3.17 2%Dividends per share$1.34$1.88 7%Operating cash flow$3,2

4、92$2,529(5)%Return on total capital 18.9%22.8%Return on equity 23.6%29.8%*Adjusted earnings per share exclude divestiture gains of$0.90 and costs related to the planned spinoff of the network power systems business of$(0.08)in 2015.Transforming to Better Serve a Connected World*2015 earnings per sha

5、re exclude divestiture gains of$0.90 and costs related to the planned spinoff of the network power systems business of$(0.08).2014,2013 and 2012 earnings per share exclude$0.72,$0.78 and$0.72,respectively,of goodwill impairment and income tax charges.2002 earnings per share is before the$1.12 per sh

6、are cumulative effect of a change in accounting principle.$3.17EARNINGS PER SHARE*$1.88DIVIDENDS PER SHAREEarnings and Dividends2015 Annual Report|1To Our Shareholders:Fiscal 2015 was a year marked by the challenges of an increasingly complex and unpredictable global marketplace.Importantly,it was a