Consolidated Statements of Operations Consolidated Statements of Comprehensive Income See Notes to Consolidated Financial Statements. See Notes to Consolidated Financial Statements. 35 Fiscal Year Ended October 26, October 27,  October 28,  (in thousands, except per share amounts)  2014 2013  2012 Net sales  $9,316,256 $8,751,654  $8,230,670 Cost of products sold  7,751,273 7,338,838  6,898,819 Gross Profit  1,564,983 1,412,816  1,331,851 Selling, general and administrative  650,948 627,340  605,868 Equity in earnings of affiliates  17,585 20,513  38,691 Operating Income  931,620 805,989  764,674 Other income and expense: Interest and investment income (loss)  3,236 4,971  6,520 Interest expense  (12,704) (12,453)  (12,859) Earnings Before Income Taxes  922,152 798,507  758,335 Provision for income taxes  316,126 268,431  253,374 Net Earnings  606,026 530,076  504,961 Less: Net earnings attributable to noncontrolling interest  3,349 3,865  4,911 Net Earnings Attributable to Hormel Foods Corporation  $ 602,677 $ 526,211  $ 500,050 Net Earnings Per Share: Basic $ 2.28 $ 1.99  $ 1.90 Diluted  $ 2.23 $ 1.95  $ 1.86 Weighted-Average Shares Outstanding: Basic 263,812 264,317  263,466 Diluted  270,216 270,224  268,891 Fiscal Year Ended October 26,  October 27, October 28,  (in thousands) 2014 2013  2012 Net earnings  $606,026 $530,076  $ 504,961 Other comprehensive income (loss), net of tax: Foreign currency translation  (1,921) (2,820)  2,774 Pension and other benefits  (52,985) 192,464  (143,282) Deferred hedging  (3,590) (15,085)  (7,527) Total Other Comprehensive Income (Loss)  (58,496) 174,559  (148,035) Comprehensive income  547,530 704,635  356,926 Less: Comprehensive income attributable to noncontrolling interest  3,339 4,069  4,962 Comprehensive Income Attributable to Hormel Foods Corporation $544,191 $700,566  $ 351,964