Financial highlights  Hormel Foods continues to drive world-class financial results. By providing  consumers with valued, innovative products across our portfolio of trusted brands,  we will continue to deliver growth. 2014 annual report 3 2014 2013  Change  % Change Net Sales  $9,316,256 $8,751,654  $564,602  6.5% Net Earnings Attributable to Hormel Foods Corporation  602,677 526,211  76,466  14.5 Percent of Sales  6.5% 6.0%  Earnings Per Share  Basic   $ 2.28   $ 1.99  $ 0.29 14.6 Diluted  2.23   1.95  0.28 14.4 Dividends Declared to Shareholders   211,112  179,782  31,330 17.4 Per Share of Common Stock  0.80   0.68  0.12 17.6 Weighted-Average Shares Outstanding  Basic   263,812   264,317  (505)  (0.2) Diluted  270,216   270,224  (8)  0.0 Capital Expenditures  $ 159,138   $ 106,762 $ 52,376 49.1 Depreciation and Amortization  130,044 124,850   5,194  4.2 Working Capital  1,178,079 1,263,404  (85,325)  (6.8) Hormel Foods Corporation Shareholders’ Investment  3,605,678 3,311,040   294,638 8.9 Annual dividends Segment operating profit Diluted earnings per share Net sales Dollars in billions Compound annual growth rate (CAGR) 6.6% Dollars per share  CAGR 11.2% Dollars in millions  CAGR 8.9% Dollars per share  CAGR 17.5% 14 13 12 11 10 $7.2 $7.9 $8.2 $8.8 $9.3 14 13 12 11 10 $1.46 $1.74 $1.86 $1.95 $2.23 14 13 12 11 10 $683 $773 $781 $829 $962 14 13 12 11 10 $0.42 $0.51 $0.60 $0.68 $0.80