Six-Year Financial Data

(Dollar amounts in millions, except per share data) 2016 2015 2014 2013 2012 2011
Total Shareholder Return, or TSR(1)            
L&P 3-year TSR Rank among S&P 500 (1% is best) 11% 31% 25% 48% 37% 38%
Leggett & Platt – annual TSR 20% 1% 43% 18% 24% 6%
S&P 500 Index – annual TSR 12% 1% 14% 32% 16% 2%
Summary of Continuing Operations            
Net sales $3,750 $3,917 $3,782 $3,477 $3,415 $3,303
EBIT (earnings before interest and taxes) 522 487 332 275 324 266
Adjusted EBIT(2) 492 510 386 333 324 281
EBIT margin 13.9% 12.4% 8.8% 7.9% 9.5% 8.1%
Adjusted EBIT margin(2) 13.1% 13.0% 10.2% 9.6% 9.5% 8.5%
Summary of Earnings            
Net earnings from continuing operations 367 328 225 186 231 173
Net earnings attributable to L&P 386 325 98 197 248 153
EPS (earnings per diluted share) from continuing operations 2.62 2.27 1.55 1.25 1.57 1.15
Adjusted EPS from continuing operations(2) 2.49 2.36 1.78 1.50 1.39 1.22
EPS (including discontinued operations) 2.76 2.28 0.68 1.34 1.70 1.04
Common Stock Data            
Cash dividends declared per share 1.34 1.26 1.22 1.18 1.14 1.10
Dividend yield (based on stock price at start of year) 3.2% 3.0% 3.9% 4.3% 4.9% 4.8%
Dividend payout ratio(2)(3) 54% 53% 69% 79% 82% 90%
End-of-year shares outstanding (millions) 133.5 135.6 137.8 139.4 142.1 139.4
Average diluted shares outstanding (millions) 140.0 142.9 143.2 147.2 146.0 147.0
Year-End Financial Position            
Cash and cash equivalents $282 $253 $333 $273 $359 $236
Total assets 2,984 2,964 3,136 3,105 3,251 2,913
Long-term debt + current debt maturities 960 945 964 866 1,052 834
Equity 1,094 1,098 1,155 1,399 1,442 1,308
Total capital(4) 2,277 2,263 2,144 2,275 2,520 2,327
Net debt to net capital(2) (5) 33.9% 34.4% 31.3% 27.2% 29.3% 28.6%
Return on average equity(6) 33.5% 29.1% 17.6% 13.1% 16.8% 12.2%
Adjusted return on average equity(2) 31.8% 30.4% 20.2% 15.7% 14.8% 12.9%
Cash Flow Components            
Net cash provided by operating activities $553 $359 $382 $417 $450 $329
Dividends paid(7) 177 172 168 125 200 156
Capital expenditures 124 103 94 81 71 75
Acquisitions, net of cash acquired 30 11 70 28 212 7
Stock repurchases, net 193 183 128 133 (6) 205

(1) TSR = (change in stock price + dividends) / beginning stock price; values assume dividend reinvestment. Company goal is to be in the top third of the S&P 500 over rolling 3-year periods.
(2) Please refer to Non-GAAP Reconciliations page.
(3) Calculated as: per share dividends declared / adjusted earnings per share from continuing operations.
(4) Calculated as: long-term debt + deferred taxes + other long-term liabilities + equity.
(5) Calculated as: (long term debt + current debt maturities - cash) / (total capital + current debt maturities - cash).
(6) Calculated as: net earnings from continuing operations / average equity.
(7) In 2013, the company paid 3 quarterly dividends, since the January 2013 dividend payment was accelerated into December 2012.