Intel 2006 Annual Report Download - page 60

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Table of Contents
INTEL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
See accompanying notes.
49
Three Years Ended December 30, 2006
(In Millions, Except Per Share Amounts)
2006
1
2005
2004
Net revenue
$
35,382
$
38,826
$
34,209
Cost of sales
17,164
15,777
14,463
Gross margin
18,218
23,049
19,746
Research and development
5,873
5,145
4,778
Marketing, general and administrative
6,096
5,688
4,659
Restructuring and asset impairment charges
555
—
—
Amortization of acquisition
-
related intangibles and costs
42
126
179
Operating expenses
12,566
10,959
9,616
Operating income
5,652
12,090
10,130
Gains (losses) on equity securities, net
214
(45
)
(2
)
Interest and other, net
1,202
565
289
Income before taxes
7,068
12,610
10,417
Provision for taxes
2,024
3,946
2,901
Net income
$
5,044
$
8,664
$
7,516
Basic earnings per common share
$
0.87
$
1.42
$
1.17
Diluted earnings per common share
$
0.86
$
1.40
$
1.16
Weighted average common shares outstanding
5,797
6,106
6,400
Weighted average common shares outstanding, assuming dilution
5,880
6,178
6,494
1
Cost of sales and operating expenses for the year ended December 30, 2006 include share-based compensation. See
“
Note 2: Accounting Policies
”
and
“
Note 3: Employee Equity Incentive Plans.
”