Coca Cola 2006 Annual Report Download - page 69

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THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31, 2006 2005 2004
(In millions except per share data)
NET OPERATING REVENUES $ 24,088 $ 23,104 $ 21,742
Cost of goods sold 8,164 8,195 7,674
GROSS PROFIT 15,924 14,909 14,068
Selling, general and administrative expenses 9,431 8,739 7,890
Other operating charges 185 85 480
OPERATING INCOME 6,308 6,085 5,698
Interest income 193 235 157
Interest expense 220 240 196
Equity income — net 102 680 621
Other income (loss) — net 195 (93) (82)
Gains on issuances of stock by equity method investees —23 24
INCOME BEFORE INCOME TAXES 6,578 6,690 6,222
Income taxes 1,498 1,818 1,375
NET INCOME $ 5,080 $ 4,872 $ 4,847
BASIC NET INCOME PER SHARE $ 2.16 $ 2.04 $ 2.00
DILUTED NET INCOME PER SHARE $ 2.16 $ 2.04 $ 2.00
AVERAGE SHARES OUTSTANDING 2,348 2,392 2,426
Effect of dilutive securities 213
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION 2,350 2,393 2,429
Refer to Notes to Consolidated Financial Statements.
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