(in thousands, except per share data) In 2011, the Company recorded an Asbestos provision, net of insurance, of $242 million pre-tax. (a) In 2011, the Company recorded charges related to an increase in the Company’s expected liability at its Goodyear, AZ Superfund site. (b) During 2010 and 2012, the Company recorded repositioning charges related to initiatives to reduce its cost structure. (c) In 2010, the Company recorded non-deductible transaction fees in connection with the December 2010 acquisition of Money Controls, and in 2012, the Company recorded similar fees in connection with the anticipated acquisition of MEI in 2013. (d) In 2012, the Company divested a business within the Fluid Handling segment (Houston Service Center) and a business within the Controls segment (Azonix Corporation). The associated gains were included in the “Gain from sale of discontinued operations attributable to common shareholders, net of tax” section in the Income Statement. (e) In 2010, the Company recorded a tax benefit caused by the reinvestment of non-U.S. earnings associated with the acquisition of Money Controls. (f) 3 2012 2011 2010 INCOME ITEMS: Net sales – GAAP $ 2,579,068 $ 2,500,369 $ 2,179,318 Operating profit – GAAP $ 310,441 $ 36,571 $ 233,301 special items impacting operating profit: Asbestos provision – pre-tax (a) — 241,647 — Environmental provision – pre-tax (b) 30,327 Repositioning charges –pre-tax (c) 20,632 — 6,676 Non-deductible acquisition transaction costs (d) 3,874 1,276 Operating profit before special items –non-GAAP $ 334,947 $ 308,545 $ 241,253 Change over prior year 8.6% 27.9% 11.1% Net sales $ 2,579,068 $ 2,500,369 $ 2,179,318 Operating profit – GAAP $ 310,441 $ 36,571 $ 233,301 Operating margin – GAAP 12.0% 1.5% 10.7% Operating profit before special items – non-GAAP 334,947 308,545 241,253 Operating margin before special items – non-GAAP 13.0% 12.3% 11.1% Net income attributable to common shareholders – GAAP $ 216,993 $ 26,315 $ 154,170 Net income attributable to common shareholders – GAAP, per diluted share $ 3.72 $ 0.44 $ 2.59 special items impacting net income attributable to common shareholders: Asbestos provision – net of tax (a) — 157,071 — Environmental provision–net of tax (b) 19,713 Repositioning charges –net of tax (c) 16,724 — 4,470 Non-deductible acquisition transaction costs (d) 3,874 1,276 Gain on divestitures (e) ( 19,176) — — Reversal of tax provision on undistributed foreign earnings (f) — — (5,625) Net income attributable to common shareholders before special items – non-GAAP $ 218,416 $ 203,098 $ 154,291 Net income attributable to common shareholders before special items – non-GAAP Per basic share $ 3.80 $ 3.49 $ 2.63 Per diluted share 3.75 3.43 2.59 For year ended December 31,