Calculate the ROA for 2016 & 2015

Calculate selling, general and asministrative expenses to revenue for 2016 & 2015

2 31 EXHIBIT 3 Avon Products,Iine. Consolissted income Statements (S millions, exc $7.472.5 175.5 $6.076.5 38.9 7,648.0 Other revenue 6,160.5 3,006.9 Costs, expenses and other 2,257.0 3,138.8 2.445.4 3,5432 Seling, general and administrative expenses 165.0 120.5 5.5 (12.5) 73.7 Operating prolit Interest expense Gain) loss on extinguishment of debt Interest income Other expense, net Gain on sale of business 115.8) 139.5 Total ether expenses from continuing operations, before taxes 22.7 19.2) 5453) Income taxes from continuing operations, net of tax Loss from disconinued operations, net of tax 1,145.6) Net income attributable to nonconirolling interests loss attributable to Aven Loss per share: Basic from continuing operations Basic from discontinued operations Basic attributable to Avon Diluted from continuing operations Diluted from discontinued operations Diluted atributable to Avon S (0.25) 0.03) 2.60) 0.88) S (0.79) S (0.25) (o.79 (2.601 average shares outstanding 437.0 435.2 434.5 Aoe 2016 amnal report 34.5 C138 CASE 20 AVON: A NEW ERA EXHIBIT 4 Avon Products, Inc., Consolidated Balance Sheets ($ millions, except per-share data) December 31 Assets Current Assets $ 686.9 443.0 624.0 296.1 291.1 2,341,1 654.4 including cash equivalents of $79.4 and $123.2 458.9 586.4 291.3 1.3 1.992.3 Accounts receivable (less allowances of $131.1 and $86.7) Inventories Prepaid expenses and other assets of discontinued operations Total current assets Property.plant and equipment, at cost Land Buildings and improvements 32 2 29.5 621.5 773.1 1,424.1 712.8 11.3 797.2 Less accumulated depreciation operty, plant and equipment, net Goodwill Other assets Noncurrent assets of discontinued operations 92.3 621.7 180.1 $3.418.9 3870.4 Total assets $3,870.4 Liabilities and Shareholders' (Deficit) Equity Current Liabilitles Debt maturing within one year Accounts payable Accrued compensation Other accrued liabilities Sales and taxes other than income $ 55.2 $18.1 768.1 129.2 401.9 147.0 10.7 74.2 157.6 419.6 174.9 23.9 100.0 489.7 2,195.1 2,150.5 Income taxes Payable to discontinued operations Current liabilities of discontinued operations Total current liabilities Long-term debt Employee benefit plans 10.7 1,485.7 1,875.8 164.5 continued CASE 20 AVON: A NEW ERA? C139 December 31 EXHIBIT 4 Continued 65.1 78.4 260.2 4,926.8 78.6 205.8 Long-term income taxes Other Babilities Noncurrent liabilities of discontinued operations 3,810.4 Total iabilities Commitments and contingencies (Notes 14 and 17) Series C convertible preferred stock 444.7 187.9 Common stock, par value $.25 authorized 1,500 shares: issued 754.9 and 751.4 shares Additional paid-in capital Retained eamings Accumulated other c Treasury stock, at cost (317.3 and 315.9 shares) 188.8 2,273.9 2,322.2 (1,033.2) (4,599.7) 2.448.1 loss 4.595 1) Total Avon shareholders' deficit 11.8 (836.2) $3,418.9 13.9 056.4 $3,870 Nocontrolling interests Total shareholders' deficit Total liabilities, series C convertible preferred stock and shareholders' deficit Source Avon 2016 Amnual Report In August 2012, McCoy made her first C-level North American business. Brian Salsberg, an Asia Pacific market expert from McKinsey, was recruit appointment: PR expert Cheryl Heinonen was recruited as chief communications officer and senior vice president of Corporate Relations. The company could clearly benefit from an image makeover. to head up Strategy .In 2015, James Scully joined the firm as its new CFO after 9 years at J.Crew, a multichannel appa . Soon after, McCoy appointed Jeff Benjamin and retailer. He replaced company veteran Kimberly Scott Crum to lead the Legal and Human Resource departments, signaling the importance of legal compliance and personnel development in the new company environment. who had resigned to pursue an external opportur McCoy believed the company needed to evolve by ing on three critical areas: executing growth plat driving simplification and efficiency, and improving In December 2012, she appointed P&G veteran . Patricia Perez-Ayala as chief marketing officer. Perez niztional effectiveness. She indicated that the co Ayala had started her career with P&G in Venezuela and was an expert on Latin America. In 2013, more critical additions were made to the leadership team. Experienced transformation was making progress in these three areas and the ne around would increase the prospects of future succe In the area of growth platforms, the company