Statement of profit and loss

(millions, except per share data) 2012 2011

Net sales $ 14,197 $ 13,198
Cost of goods sold 8,763 8,046
Selling, general and administrative expense 3,872 3,725
Operating profit 1,562 1,427
Interest expense 261 233
Other income (expense), net 24 (10)
Income before income taxes 1,325 1,184
Income taxes 364 318
Net income 961 866

Balance sheet
(millions, except per share data) 2012 2011
Cash and cash equivalents $ 281 $ 460
Accounts receivable 1,454 1,188
Inventories 1,365 1,174
Other current assets 280 247
Total current assets 3,380 3,069
Property 3,782 3,281
Goodwill 5,053 3,623
Other intangibles 2,359 1,454
Other assets 610 516
Total non-current assets 11,804 8,874
Total asssets 15,184 11,943
Current maturities of long-term debt 3,121 2,124
Accounts payable 1,402 1,189
Total current liabilities 4,523 3,313
Long-term debt 6,082 5,037
Other liabilities 2,099 1,795
Total non-current liabilities 8,181 6,832
Total liabilities 12,704 10,145
Total equity 2,480 1,798

Other information
Average basic shares outstanding 358 362
Share price 56.52 -
NOTE: In 2013 Kellogg's share price was $57.98.