Coca Cola 2008 Annual Report Download - page 75

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THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31, 2008 2007 2006
(In millions except per share data)
NET OPERATING REVENUES $ 31,944 $ 28,857 $ 24,088
Cost of goods sold 11,374 10,406 8,164
GROSS PROFIT 20,570 18,451 15,924
Selling, general and administrative expenses 11,774 10,945 9,431
Other operating charges 350 254 185
OPERATING INCOME 8,446 7,252 6,308
Interest income 333 236 193
Interest expense 438 456 220
Equity income (loss) — net (874) 668 102
Other income (loss) — net (28) 173 195
INCOME BEFORE INCOME TAXES 7,439 7,873 6,578
Income taxes 1,632 1,892 1,498
NET INCOME $ 5,807 $ 5,981 $ 5,080
BASIC NET INCOME PER SHARE $ 2.51 $ 2.59 $ 2.16
DILUTED NET INCOME PER SHARE $ 2.49 $ 2.57 $ 2.16
AVERAGE SHARES OUTSTANDING 2,315 2,313 2,348
Effect of dilutive securities 21 18 2
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION 2,336 2,331 2,350
Refer to Notes to Consolidated Financial Statements.
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