Ralph J. Nicoletti
Chief Financial Officer

“We made significant progress throughout 2016 in transforming our organization, while simultaneously delivering on our goals. Our core sales grew 3.7 percent, as we generated more than $210 million in synergies and Project Renewal savings, and $1.8 billion in operating cash flow. For 2017 and beyond, we will continue to release costs in order to drive our growth agenda into action.”

By the Numbers

NET SALES
(in billions)

CORE SALES GROWTH
 

NORMALIZED
OPERATING MARGIN

NORMALIZED
EARNINGS PER SHARE

OPERATING CASH FLOW
(in billions)

2016 NET SALES BY SEGMENT
(in billions)

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  • 2016 NET SALES BY GEOGRAPHY
    (in billions)

  • North America
  • Europe, Middle East, Africa
  • Latin America
  • Asia Pacific

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