Baker Hughes 2014 Annual Report Download - page 73
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48
BAKER HUGHES INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
(In millions, except per share amounts) 2014 2013 2012
Revenue:
Sales $ 8,056 $ 7,594 $ 7,274
Services 16,495 14,770 14,087
Total revenue 24,551 22,364 21,361
Costs and expenses:
Cost of sales 6,294 5,932 5,758
Cost of services 13,452 12,621 11,598
Research and engineering 613 556 497
Marketing, general and administrative 1,271 1,306 1,316
Litigation settlements 62 — —
Total costs and expenses 21,692 20,415 19,169
Operating income 2,859 1,949 2,192
Interest expense, net (232) (234) (210)
Income before income taxes 2,627 1,715 1,982
Income taxes (896) (612) (665)
Net income 1,731 1,103 1,317
Net income attributable to noncontrolling interests (12) (7) (6)
Net income attributable to Baker Hughes $ 1,719 $ 1,096 $ 1,311
Basic earnings per share attributable to Baker Hughes $ 3.93 $ 2.47 $ 2.98
Diluted earnings per share attributable to Baker Hughes $ 3.92 $ 2.47 $ 2.97
See Notes to Consolidated Financial Statements