Alcoa 1999 Annual Report Download - page 42

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Statement of Consolidated Income Alcoa and subsidiaries
(in millions, except per-share amounts)
For the year ended December 31 1999 1998 1997
Revenues
Sales (O) $16,323 $15,340 $13,319
Other income 124 149 163
16,447 15,489 13,482
Costs and Expenses
Cost of goods sold 12,536 11,933 10,275
Selling, general administrative and other expenses 851 783 682
Research and development expenses 128 128 143
Provision for depreciation, depletion and amortization 888 842 735
Special items (D) ——(96)
Interest expense (S) 195 198 141
14,598 13,884 11,880
Earnings
Income before taxes on income 1,849 1,605 1,602
Provision for taxes on income (P) 553 514 529
Income from operations 1,296 1,091 1,073
Minority interests (242) (238) (268)
Net Income $ 1,054 $ 853 $ 805
Earnings per Share (B and M)
Basic $2.87 $ 2.44 $ 2.33
Diluted $2.82 $ 2.42 $ 2.31
The accompanying notes are an integral part of the financial statements.