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Perform a vertical analysis for basic, diluted, and weighted averages: 2016 Percentage 2015 Percentage (In millions, except per share data) Total net sales $ 12,547
Perform a vertical analysis for basic, diluted, and weighted averages:
2016 | Percentage | 2015 | Percentage | ||
(In millions, except per share data) | |||||
Total net sales | $ 12,547 | $ 12,625 | |||
Cost of goods sold | 8,071 | 8,074 | |||
Gross margin | 4,476 | 4,551 | |||
Operating expenses/(income): | |||||
Selling, general and administrative (SG&A) | 3,538 | 3,775 | |||
Pension | 19 | 162 | |||
Depreciation and amortization | 609 | 616 | |||
Real estate and other, net | -111 | 3 | |||
Restructuring and management transition | 26 | 84 | |||
Total operating expenses | 4,081 | 4,640 | |||
Operating income/(loss) | 395 | (89) | |||
Loss on extinguishment of debt | 30 | 10 | |||
Net interest expense | 363 | 405 | |||
Income/(loss) before income taxes | 2 | (504) | |||
Income tax expense/(benefit) | 1 | 9 | |||
Net income/(loss) | $ 1 | $ (513) | |||
Earnings/(loss) per share: | |||||
Basic | 0 | (2) | |||
Diluted | (2) | ||||
- | |||||
Weighted average shares basic | 308.1 | 306 | |||
Weighted average shares diluted | 313 | 306 | |||
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