Our Specialty Engineered Materials, Performance Products & Solutions (PP&S) and Distribution (POD) segments all delivered record operating income, helping us to overcome a number of macro-economic challenges and weaker performance in Designed Structures & Solutions (DSS)." These associates led to a near-immediate impact in POD and PP&S where sales cycles are the shortest within the company, and both segments reported record operating income for the full year 2016. 

$ D LL S 2007 2008 2009 2010 2011 .25 .50 .75 1.00 1.25 ADJUSTED EARNINGS PER SHARE^ 278% INCREASE O F AT IN M 2007 2008 2009 2010 2011 80 100 OPERATING MIX SHIFT* JOINT VENTURES PP&S DISTRIBUTION SPECIALTY TA 2007 2008 2009 2010 2011 1.5 3.0 4.5 6.0 7.5 ADJUSTED RETURN ON SALES∆ *Operating Income excludes Corporate Charges OPERATIONAL PERFORMANCE SPECIALTY PLATFORM OPERATING INCOME $ M IL LI S 80 100 2007 2008 2009 2010 2011 192% INCREASE 91% INCREASE ^EPS excluding special items and equity income from SunBelt SAFETY — INJURY INCIDENCE RATEº 2007 2008 2009 2010 2011 .25 .50 .75 1.0 1.25 “WORLD-CLASS” PERFORMANCE JU Y ID E AT ºNumber of injuries per 100 full-time associates TA 2007 2008 2009 2010 2011 8 12 16 WORKING CAPITAL† — PERCENTAGE OF SALES “BEST-IN-CLASS” WORKING CAPITAL MANAGEMENT † Working capital is defined as accounts receivable plus inventories minus accounts payable ∆Operating income as a percentage of sales, excluding special items and equity income from SunBelt United States Securities and Exchange Commission Washington, DC 20549 FORM 10-K Í ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 2011年12月31日 ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to .

Patterson said, "We've had a strong start to the year, driven by gains in Distribution and PP&S. 

Three of our businesses have already reached their 2015 margin targets with DSS and PP&S having line of sight to getting there this year," added Mr.