Archer Daniels Midland 2007 Annual Report Download - page 47

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39
Archer Daniels Midland Company
Consolidated Statements of Earnings
Year Ended June 30
2007 2006 2005
(In millions, except per share amounts)
Net sales and other operating income $44,018 $36,596 $35,943
Cost of products sold 40,781 33,630 33,512
Gross Profit 3,237 2,966 2,431
Selling, general and administrative expenses 1,195 1,193 1,081
Other income - net (1,112) (82) (166)
Earnings Before Income Taxes 3,154 1,855 1,516
Income taxes 992 543 472
Net Earnings $ 2,162 $ 1,312 $ 1,044
Average number of shares outstanding – basic 651 654 654
Average number of shares outstanding – diluted 656 656 656
Basic earnings per common share $ 3.32 $ 2.01 $ 1.60
Diluted earnings per common share $ 3.30 $ 2.00 $ 1.59
See notes to consolidated financial statements.