Selected Financial Data The Company provides EBIT, EBITDA, and Return on Invested Capital because these measures are useful to investors as indicators  of operating strength and performance relative to prior years, and are typically used to benchmark our Company’s performance  against other companies in our industry. Management uses EBIT as a component of certain executive incentive plans, but does not  utilize EBITDA for any material purpose. These measures are calculated as follows: * Excluding earnings attributable to noncontrolling interests.  13 (in thousands) 2014 2013  2012  2011  2010 (1) EBIT: Net Earnings Attributable to Hormel Foods Corporation  $ 602,677  $ 526,211 $ 500,050 $ 474,195 $ 395,587 Plus: Income Tax Expense  316,126  268,431 253,374 239,640 224,775 Plus: Interest Expense  12,704  12,453 12,859 22,662 26,589 Less: Interest and Investment Income (Loss)  3,236  4,971 6,520 (786)  4,565  EBIT $ 928,271  $ 802,124 $ 759,763 $ 737,283 $ 642,386 (2) EBITDA: EBIT per (1) above  $ 928,271  $ 802,124 $ 759,763 $ 737,283 $ 642,386 Plus: Depreciation and Amortization  130,044  124,850 119,494 124,165 125,591 EBITDA $1,058,315  $ 926,974 $ 879,257 $ 861,448 $ 767,977 (3) Return on Invested Capital: EBIT per (1) above  $ 928,271  $ 802,124 $ 759,763 $ 737,283 $ 642,386 X (1 — Effective Tax Rate*)  65.59% 66.22%  66.37%  66.43%  63.77%  After-tax EBIT  608,887  531,166 504,257 489,771 409,631 Divided by: Total Debt  250,000  250,000 250,000 250,000 350,000 Hormel Foods Corporation Shareholders’ Investment  3,605,678  3,311,040 2,819,455 2,656,582 2,400,657 Total Debt and Shareholders’ Investment  3,855,678  3,561,040 3,069,455 2,906,582 2,750,657 Return on Invested Capital  15.79% 14.92%  16.43%  16.85%  14.89% (in thousands, except per share amounts)  2014 2013  2012  2011  2010 Operations Net Sales  $9,316,256  $8,751,654 $8,230,670 $7,895,089 $7,220,719 Net Earnings  606,026  530,076 504,961 479,196 399,776 Net Earnings Attributable to Hormel Foods Corporation  602,677  526,211 500,050 474,195 395,587 % of net sales  6.47% 6.01%  6.08%  6.01%  5.48% EBIT (1) 928,271  802,124 759,763 737,283 642,386 % of net sales  9.96% 9.17%  9.23%  9.34%  8.90% EBITDA (2) 1,058,315  926,974 879,257 861,448 767,977 % of net sales  11.36% 10.59%  10.68%  10.91%  10.64% Return on Invested Capital (3) 15.79% 14.92%  16.43%  16.85%  14.89% Financial Position Total Assets 5,455,619  4,915,880 4,563,966 4,244,391 4,053,918 Long-term Debt less Current Maturities  250,000  250,000 250,000 250,000 – Hormel Foods Corporation Shareholders’ Investment  3,605,678  3,311,040 2,819,455 2,656,582 2,400,657 Selected Cash Flow Data Depreciation and Amortization  130,044  124,850 119,494 124,165 125,591 Capital Expenditures  159,138  106,762 132,303 96,911 89,823 Acquisitions of Businesses  466,204  665,415 168 7,207 28,104 Share Repurchase  58,937  70,819 61,366 152,930 69,574 Dividends Paid  203,156  174,320 152,204 129,975 109,374 Common Stock Weighted-Average Shares Outstanding — Basic  263,812  264,317 263,466 266,394 266,732 Weighted-Average Shares Outstanding — Diluted  270,216  270,224 268,891 271,915 270,698 Earnings per Share — Basic  $ 2.28  $ 1.99 $ 1.90 $ 1.78 $ 1.48 Earnings per Share — Diluted  2.23  1.95 1.86 1.74 1.46 Dividends per Share  0.80  0.68 0.60 0.51 0.42 Hormel Foods Corporation Shareholders’ Investment per Share  13.68  12.56 10.72 10.06 9.03