FINANCIALS

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Years ended June 30
Dollars in millions, except share and per share data
2020 2019 2018
Net sales $6,721 $6,214 $6,124
Cost of products sold 3,658 3,486 3,449
Gross profit 3,063 2,728 2,675
Selling and administrative expenses 969 856 837
Advertising costs 675 612 570
Research and development costs 145 136 132
Interest expense 99 97 85
Other (income) expense, net (10) 3 (3)
Earnings before income taxes 1,185 1,024 1,054
Income taxes 246 204 231
Net earnings $939 $820 $823
Net earnings per share      
Basic net earnings per share $7.46 $6.42 $6.37
Diluted net earnings per share $7.36 $6.32 $6.26
Weighted average shares outstanding (in thousands)      
Basic 125,828 127,734 129,293
Diluted 127,671 129,792 131,581