|
Consolidated Statement of Operations
 |
(in millions of dollars,
except per share amounts) |
|
|
2004 |
|
2003 |
|
2002 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
Product sales |
|
| $26,209 | |
$22,363 |
|
$21,189 |
|
|
Service sales |
|
|
10,491 |
|
8,360 |
|
6,791 |
|
|
Financing revenues and other income,
net |
|
|
745 |
|
311 |
|
232 |
|
|
|
|
|
37,445 |
|
31,034 |
|
28,212 |
|
|
Costs and Expenses |
|
|
|
|
|
|
|
|
|
Cost of products sold |
|
|
20,385 |
|
17,084 |
|
15,717 |
|
|
Cost of services sold |
|
|
6,836 |
|
5,424 |
|
4,444 |
|
|
Research and development |
|
|
1,256 |
|
1,027 |
|
1,191 |
|
|
Selling, general and administrative |
|
|
4,498 |
|
3,654 |
|
3,203 |
|
|
Operating Profit |
|
|
4,470 |
|
3,845 |
|
3,657 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
363 |
|
375 |
|
381 |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes and minority
interests |
|
|
4,107 |
|
3,470 |
|
3,276 |
|
|
Income taxes |
|
|
1,085 |
|
941 |
|
887 |
|
|
Minority interests in subsidiaries’
earnings |
|
|
234 |
|
168 |
|
153 |
|
|
Net Income |
|
|
$2,788 | |
$2,361 | |
$2,236 |
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per Share of Common Stock |
|
|
|
|
|
|
|
|
|
Basic |
|
|
$5.62 |
|
$4.93 |
|
$4.67 |
|
|
Diluted |
|
|
$5.52 |
|
$4.69 |
|
$4.42 |
|
|
|