Consolidated Statements of Earnings GENERAL MILLS, INC. AND SUBSIDIARIES 47 Annual Report 2010 (In Millions, Except per Share Data) 2010 2009 2008 Fiscal Year ........................................................................................ ............................................................................................................................................................................................................................................................................................................................................................................................ Net sales $14,796.5 $14,691.3 $13,652.1 Cost of sales 8,922.9 9,457.8 8,778.3 Selling, general, and administrative expenses 3,236.1 2,951.8 2,623.6 Divestitures (gain), net — (84.9) — Restructuring, impairment, and other exit costs 31.4 41.6 21.0 ............................................................................................................................................................................................................................................................................................................................................................................................ Operating profit 2,606.1 2,325.0 2,229.2 Interest, net 401.6 382.8 399.7 ............................................................................................................................................................................................................................................................................................................................................................................................ Earnings before income taxes and after-tax earnings from joint ventures 2,204.5 1,942.2 1,829.5 Income taxes 771.2 720.4 622.2 After-tax earnings from joint ventures 101.7 91.9 110.8 ............................................................................................................................................................................................................................................................................................................................................................................................ Net earnings, including earnings attributable to noncontrolling interests 1,535.0 1,313.7 1,318.1 Net earnings attributable to noncontrolling interests 4.5 9.3 23.4 ............................................................................................................................................................................................................................................................................................................................................................................................ Net earnings attributable to General Mills $ 1,530.5 $ 1,304.4 $ 1,294.7 Earnings per share – basic $ 2.32 $ 1.96 $ 1.93 Earnings per share – diluted $ 2.24 $ 1.90 $ 1.85 Dividends per share $ 0.96 $ 0.86 $ 0.78 See accompanying notes to consolidated financial statements.