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EXHIBIT 2 | American Greetings Income Statement (USD millions; Fiscal year ends February of subsequent yoar) 2011 (Est) (Ends Feb 2012) 2008 2009 2010 Total American Greetings Figures Total Revenue 1,691 1,636 1,593 1,677 Material, Labor, and Other Production Costs 810 713 682 743 508 Selling, Distribution, and Marketing Expenses Administrative and General Expenses Goodwill and Other Intangible Asset Impairments 619 478 526 226 276 261 258 290 Other operating expenses Operating Income (6) (253) 139 175 157 Net Interest and Other Non Operating Expenses Income Before Income Tax Expense 18 22 (275) 19 28 129 121 156 (47) (228) Income Tax Expense 39 69 47 Net Income 82 87 82 Earnings Por Sharo (Basic) Dividends per Share (4.89) 2.07 2.18 2.22 0.60 0.36 0.56 0.60 Average Number of Shares Outstanding (MIllons) 46.5 39.5 40.0 38.50

EXHIBIT 2 | American Greetings Income Statement (USD millions; Fiscal year ends February of subsequent yoar) 2011 (Est) (Ends Feb 2012) 2008 2009 2010 Total American Greetings Figures Total Revenue 1,691 1,636 1,593 1,677 Material, Labor, and Other Production Costs 810 713 682 743 508 Selling, Distribution, and Marketing Expenses Administrative and General Expenses Goodwill and Other Intangible Asset Impairments 619 478 526 226 276 261 258 290 Other operating expenses Operating Income (6) (253) 139 175 157 Net Interest and Other Non Operating Expenses Income Before Income Tax Expense 18 22 (275) 19 28 129 121 156 (47) (228) Income Tax Expense 39 69 47 Net Income 82 87 82 Earnings Por Sharo (Basic) Dividends per Share (4.89) 2.07 2.18 2.22 0.60 0.36 0.56 0.60 Average Number of Shares Outstanding (MIllons) 46.5 39.5 40.0 38.50

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Interprete the income statement. 

EXHIBIT 2 | American Greetings Income Statement (USD millions; Fiscal year ends February of subsequent year) 2011 (Est) (Ends Feb 2012) 2008 2009 2010 Total American Greetings Figures Total Revenue 1,691 1,636 1,593 1,677 Material, Labor, and Other Production Costs Selling, Distribution, and Marketing Expenses 810 713 682 743 619 508 478 526 Administrative and General Expenses Goodwill and Other Intangible Asset Impairments 226 276 261 258 290 Other operating expenses Operating Income 1 3 (6) (253) 139 175 157 Net Interest and Other Non Operating Expenses 22 18 19 28 Income Before Income Tax Expense (275) 121 156 129 Income Tax Expense (47) (228) 39 69 47 Net Income 82 87 82 (4.89) Earnings Per Share (Basic) Dividends per Share Average Number of Shares Outstanding (Millons) 2.07 2.18 2.22 0.60 0.36 0.56 0.60 46.5 39.5 40.0 38.50 By Business Unit Operating Segment Net Sales North American Social Expression Products 1,096 1,235 1,191 1,215 International Social Exprossion Products 271 254 262 344 Retall Operations 179 12 AG Interactive 83 80 78 68 Operating Segment Earnings North American Social Expression Products 70 236 218 148 International Social Expression Products (78) 17 20 20 Retail Operations (19) (35) AG Interactive (162) 11 14 14 Total Revenue by Product Category Everyday Greeting Cards Seasonal Greeting Cards Gift Packaging 704 764 753 823 357 369 377 408 240 221 223 239 Other Revenue 44 38 32 32 All Other Products 345 244 207 176 Source: Company accounts; Managomont and caso writor osimatos
Transcribed Image Text:EXHIBIT 2 | American Greetings Income Statement (USD millions; Fiscal year ends February of subsequent year) 2011 (Est) (Ends Feb 2012) 2008 2009 2010 Total American Greetings Figures Total Revenue 1,691 1,636 1,593 1,677 Material, Labor, and Other Production Costs Selling, Distribution, and Marketing Expenses 810 713 682 743 619 508 478 526 Administrative and General Expenses Goodwill and Other Intangible Asset Impairments 226 276 261 258 290 Other operating expenses Operating Income 1 3 (6) (253) 139 175 157 Net Interest and Other Non Operating Expenses 22 18 19 28 Income Before Income Tax Expense (275) 121 156 129 Income Tax Expense (47) (228) 39 69 47 Net Income 82 87 82 (4.89) Earnings Per Share (Basic) Dividends per Share Average Number of Shares Outstanding (Millons) 2.07 2.18 2.22 0.60 0.36 0.56 0.60 46.5 39.5 40.0 38.50 By Business Unit Operating Segment Net Sales North American Social Expression Products 1,096 1,235 1,191 1,215 International Social Exprossion Products 271 254 262 344 Retall Operations 179 12 AG Interactive 83 80 78 68 Operating Segment Earnings North American Social Expression Products 70 236 218 148 International Social Expression Products (78) 17 20 20 Retail Operations (19) (35) AG Interactive (162) 11 14 14 Total Revenue by Product Category Everyday Greeting Cards Seasonal Greeting Cards Gift Packaging 704 764 753 823 357 369 377 408 240 221 223 239 Other Revenue 44 38 32 32 All Other Products 345 244 207 176 Source: Company accounts; Managomont and caso writor osimatos
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