Avon 2004 Annual Report Download - page 29

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Consolidated Statements of Income
In millions, except per share data
Years ended December 31 2004 2003 2002
Net sales $7,656.2 $6,773.7 $6,142.4
Other revenue 91.6 71.4 57.7
Total revenue 7,747.8 6,845.1 6,200.1
Costs, expenses and other:
Cost of sales 2,911.7 2,611.8 2,438.2
Marketing, distribution and administrative expenses 3,610.3 3,194.4 2,864.1
Special charges, net (3.2) (3.9) 34.3
Operating profit 1,229.0 1,042.8 863.5
Interest expense 33.8 33.3 52.0
Interest income (20.6) (12.6) (14.2)
Other expense (income), net 28.3 28.6 (9.9)
Total other expenses 41.5 49.3 27.9
Income before taxes and minority interest 1,187.5 993.5 835.6
Income taxes 330.6 318.9 292.3
Income before minority interest 856.9 674.6 543.3
Minority interest (10.8) (9.8) (8.7)
Net income $ 846.1 $ 664.8 $ 534.6
Earnings per share:
Basic $ 1.79 $ 1.41 $ 1.13
Diluted $ 1.77 $ 1.39 $ 1.11
Weighted-average shares outstanding:
Basic 472.35 471.08 472.12
Diluted 477.96 483.13 490.94
The accompanying notes are an integral part of these statements.