Amounts in millions, except per share amounts Net sales Gross profit Operating income 2017 2016 2015 2014 2013 2012 65,058 $ 65,299 70,749 $ 74,401 $ 73,910 $ 73,138 32,523 32,390 33,693 35,371 35,858 35,254 13,955 13,441 11,049 13,910 13,051 12,495 Net earnings from continuing operations 10,194 10,027 8,287 10,658 10,346 8,864 Net earnings/(loss) from discontinued operations 5,217 577 (1,143) 1,127 1,056 2,040 Net earnings attributable to Procter & Gamble 15,326 10,508 7,036 11,643 11,312 10,756 Net earnings margin from continuing operations 15.7% 15.4% 11.7% 14.3% 14.0% 12.1% Basic net earnings per common share: (1) Earnings from continuing operations Earnings/(loss) from discontinued operations 3.79 $ 3.59 $ 2.92 $ 3.78 $ 3.65 $ 3.08 2.01 0.21 (0.42) 0.41 0.39 0.74 Basic net earnings per common share Diluted net earnings per common share: (1) Earnings from continuing operations Earnings/(loss) from discontinued operations $ 5.80 $ 3.80 S 2.50 $ 4.19 $ 4.04 $ 3.82 3.69 S 3.49 S 2.84 $ 3.63 $ 3.50 $ 2.97 1.90 0.20 (0.40) 0.38 0.36 0.69 Diluted net earnings per common share S 5.59 $ 3.69 S 2.44 $ 4.01 $ 3.86 $ 3.66 Dividends per common share $ 2.70 S 2.66 S 2.59 $ 2.45 $ 2.29 $ 2.14 Research and development expense S 1,874 1,879 1,991 1,910 1,867 $ 1,874 Advertising expense 7,118 7,243 7,180 7,867 8,188 7,839 Total assets 120,406 127,136 129,495 144,266 139,263 132,244 Capital expenditures 3,384 3,314 3,736 Long-term debt 18,038 18,945 18,327 3,848 19,807 4,008 3,964 19,111 21,080 Shareholders' equity 55,778 S 57,983 $ 63,050 $ 69,976 $ 68,709 $ 64,035 (1) Basic net earnings per common share and Diluted net earnings per common share are calculated based on Net earnings attributable to Procter & Gamble.