Adidas 2002 Annual Report Download - page 117

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Consolidated Income Statement
115
CONSOLIDATED INCOME STATEMENT € in thousands
(Note) Year ending December 31 Change
2002 2001 in %
Net sales 6,523,419 6,112,347 6.7
Cost of sales 3,704,269 3,511,164 5.5
Gross profit 2,819,150 2,601,183 8.4
Selling, general and administrative expenses (22) 2,245,383 2,036,470 10.3
Depreciation and amortization (excl. goodwill) (9,11,22) 97,147 89,962 8.0
Operating profit 476,620 474,751 0.4
Goodwill amortization (10) 45,396 40,390 12.4
Royalty and commission income 46,006 42,085 9.3
Financial expenses, net (24) 87,116 101,878 (14.5)
Extraordinary income 01,776 (100.0)
Income before taxes 390,114 376,344 3.7
Income taxes (25) 147,862 146,945 0.6
Net income before minority interests 242,252 229,399 5.6
Minority interests (18) (13,681) (20,906) (34.6)
Net income 228,571 208,493 9.6
Basic earnings per share (in €) (26) 5.04 4.60 9.6
Diluted earnings per share (in €) (26) 5.04 ––
The accompanying notes are an integral part of these consolidated financial statements.