Kodak 2003 Annual Report Download - page 40

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Financials
40
For the Year Ended December 31,
(in millions, except per share data) 2003 2002 2001
Net sales $ 13,317 $ 12,835 $ 13,229
Cost of goods sold 9,033 8,225 8,661
Gross profit 4,284 4,610 4,568
Selling, general and administrative expenses 2,648 2,530 2,625
Research and development costs 781 762 779
Goodwill amortization —— 153
Restructuring costs and other 484 98 659
Earnings from continuing operations before interest,
other charges, net, and income taxes 371 1,220 352
Interest expense 148 173 219
Other charges, net 51 101 18
Earnings from continuing operations before income taxes 172 946 115
(Benefit) provision for income taxes (66) 153 34
Earnings from continuing operations $ 238 $ 793 $ 81
Earnings (loss) from discontinued operations net of income
tax benefits of $13, $15 and $2, respectively $ 27 $ (23) $ (5)
Net earnings $ 265 $ 770 $ 76
Basic and diluted net earnings (loss) per share:
Continuing operations $ .83 $ 2.72 $ .28
Discontinued operations .09 (.08) (.02)
Total $ .92 $ 2.64 $ .26
Cash dividends per share $ 1.15 $ 1.80 $ 2.21
The accompanying notes are an integral part of these consolidated financial statements.
Eastman Kodak Company
Consolidated Statement of Earnings