ITEM 6. SELECTED FINANCIAL DATA 21 (a) Our operating profit and net earnings from continuing operations included severance charges of $136 million ($88 million or $.26 per share, after tax) in 2011 (Note 2); charges for the Voluntary Executive Separation Program and facilities consolidation totaling $220 million ($143 million or $.38 per share, after tax) in 2010 (Note 2); and noncash pension expense (FAS/CAS) of $922 million, $454 million, and $456 million in 2011, 2010, and 2009. Net earnings from continuing operations per common share benefitted from the significant number of shares repurchased under our share repurchase program (Note 11). (b) Our net earnings from continuing operations included an $89 million reduction in income tax expense through the elimination of liabilities for unrecognized tax benefits in 2011; tax expense of $96 million as a result of health care legislation that eliminated the tax deduction for company-paid retiree prescription drug expenses to the extent they are reimbursed under Medicare Part D in 2010; and a $69 million income tax benefit for the resolution of certain tax matters in 2009 (Note 8). (c) Our net earnings were affected by the items in notes (a) and (b) above, as well as items related to discontinued operations such as a $184 million gain ($.50 per share) on the sale of Enterprise Integration Group in 2010, and $73 million ($.20 per share) of benefits for certain adjustments related to the planned sale of Pacific Architects and Engineers in 2010 (Note 14). (d) The increase in our cash and long-term debt from 2010 to 2011 primarily was due to the issuance of $2.0 billion of long-term notes in 2011, partially offset by our redemption of $584 million in long-term notes in 2011 (Note 9). The increase in our long-term debt from 2008 to 2009 primarily was due to the issuance of $1.5 billion of long-term notes in 2009. (e) The increase in our total assets and total liabilities and decrease in stockholders’ equity from 2007 to 2008 and 2010 to 2011 primarily was due to the annual remeasurement of the funded status of our postretirement benefit plans at December 31, 2008 and 2011. The effects of the downward market conditions were included in the 2008 remeasurement. (In millions, except per share data) 2011 2010 2009 2008 2007 OPERATING RESULTS Net sales $46,499 $45,671 $43,867 $41,212 $40,612 Operating profit (a) 3,980 4,049 4,367 4,987 4,444 Net earnings from continuing operations (a)(b) 2,667 2,614 2,967 3,127 2,990 Net earnings (c) 2,655 2,878 2,973 3,185 3,000 EARNINGS PER COMMON SHARE Net earnings from continuing operations Basic (a) $ 7.94 $ 7.18 $ 7.71 $ 7.82 $ 7.19 Diluted (a) 7.85 7.10 7.63 7.64 7.00 Net earnings Basic (c) 7.90 7.90 7.73 7.97 7.21 Diluted (c) 7.81 7.81 7.64 7.78 7.02 CASH DIVIDENDS PER COMMON SHARE $ 3.25 $ 2.64 $ 2.34 $ 1.83 $ 1.47 BALANCE SHEET Cash, cash equivalents and short-term investments (d) $ 3,585 $ 2,777 $ 2,737 $ 2,229 $ 2,981 Total current assets 14,094 12,893 12,529 10,736 10,973 Goodwill 10,148 9,605 9,948 9,526 9,387 Total assets (e) 37,908 35,113 35,167 33,495 28,961 Total current liabilities 12,130 11,401 10,910 10,702 10,146 Long-term debt, net (d) 6,460 5,019 5,052 3,563 4,303 Total liabilities (e) 36,907 31,616 31,201 30,742 19,236 Stockholders’ equity (e) 1,001 3,497 3,966 2,753 9,725 COMMON SHARES AT YEAR-END 321 346 373 393 409 CASH FLOW DATA Net cash provided by operating activities $ 4,253 $ 3,801 $ 3,487 $ 4,724 $ 4,458 Net cash used for investing activities (813) (573) (1,832) (1,210) (1,425) Net cash used for financing activities (2,119) (3,358) (1,432) (3,994) (2,297) NEGOTIATED BACKLOG $80,700 $78,400 $77,300 $80,200 $76,000