Sony 1997 Annual Report Download - page 44

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42
Consolidated Statements of Income and Retained Earnings
Sony Corporation and Consolidated Subsidiaries
Year ended March 31
Dollars in thousands
Yen in millions (Note 3)
1995 1996 1997 1997
Sales and operating revenue:
Net sales (Note 8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥3,826,693 ¥4,339,411 ¥5,383,911 $43,418,637
Insurance and financing revenue . . . . . . . . . . . . . . . . . . . . . . . 138,747 231,198 251,930 2,031,694
Other operating revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,143 21,956 27,293 220,104
3,990,583 4,592,565 5,663,134 45,670,435
Costs and expenses:
Cost of sales (Note 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,916,475 3,216,806 3,930,107 31,694,411
Selling, general and administrative (Note 16) . . . . . . . . . . . . . . 842,783 917,887 1,132,241 9,130,976
Insurance and financing expenses . . . . . . . . . . . . . . . . . . . . . . 132,798 222,548 230,456 1,858,516
Goodwill write-off (Note 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . 265,167 — ——
4,157,223 4,357,241 5,292,804 42,683,903
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (166,640) 235,324 370,330 2,986,532
Other income:
Interest and dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,362 18,053 19,406 156,500
Foreign exchange gain, net . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,789 — 18,085 145,847
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,992 47,702 55,152 444,774
73,143 65,755 92,643 747,121
Other expenses:
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,354 67,095 70,892 571,709
Foreign exchange loss, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 25,580 ——
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,097 70,245 79,652 642,355
127,451 162,920 150,544 1,214,064
Income (loss) before income taxes . . . . . . . . . . . . . . . . . . . . . (220,948) 138,159 312,429 2,519,589
Income taxes (Note 14):
Current. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,108 72,088 169,060 1,363,387
Deferred. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (18,935) 5,070 (5,490) (44,274)
65,173 77,158 163,570 1,319,113
Income (loss) before minority interest . . . . . . . . . . . . . . . . . . . (286,121) 61,001 148,859 1,200,476
Minority interest in consolidated subsidiaries . . . . . . . . . . . . . 7,235 6,749 9,399 75,799
Net income (loss). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (293,356) 54,252 139,460 1,124,677
Retained earnings:
Balance, beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . 901,847 585,553 617,343 4,978,573
Common stock issue costs, net of tax . . . . . . . . . . . . . . . . . . . . (8) (2) ——
Cash dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (18,692) (18,700) (20,882) (168,403)
Transfer to legal reserve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,238) (3,760) (4,451) (35,895)
Balance, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 585,553 ¥ 617,343 ¥ 731,470 $ 5,898,952
Yen Dollars (Note 3)
Per common share:
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥(696.9) ¥134.0 ¥309.2 $2.49
Cash dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.0 50.0 55.0 0.44
The accompanying notes are an integral part of these statements.