Boeing 2011 Annual Report Download - page 61

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The Boeing Company and Subsidiaries
Consolidated Statements of Operations
(Dollars in millions, except per share data)
Years ended December 31, 2011 2010 2009
Sales of products $ 57,401 $ 52,586 $ 57,032
Sales of services 11,334 11,720 11,249
Total revenues 68,735 64,306 68,281
Cost of products (46,642) (42,194) (47,639)
Cost of services (9,097) (9,489) (8,726)
Boeing Capital Corporation interest expense (128) (160) (175)
Total costs and expenses (55,867) (51,843) (56,540)
12,868 12,463 11,741
Income from operating investments, net 278 267 249
General and administrative expense (3,408) (3,644) (3,364)
Research and development expense, net (3,918) (4,121) (6,506)
Gain/(loss) on dispositions, net 24 6 (24)
Earnings from operations 5,844 4,971 2,096
Other income/(expense), net 47 52 (26)
Interest and debt expense (498) (516) (339)
Earnings before income taxes 5,393 4,507 1,731
Income tax expense (1,382) (1,196) (396)
Net earnings from continuing operations 4,011 3,311 1,335
Net gain/(loss) on disposal of discontinued operations, net of taxes of
($4), $2 and $13 7(4) (23)
Net earnings $ 4,018 $ 3,307 $ 1,312
Basic earnings per share from continuing operations $ 5.38 $ 4.50 $ 1.89
Net gain/(loss) on disposal of discontinued operations, net of taxes 0.01 (0.01) (0.03)
Basic earnings per share $ 5.39 $ 4.49 $ 1.86
Diluted earnings per share from continuing operations $ 5.33 $ 4.46 $ 1.87
Net gain/(loss) on disposal of discontinued operations, net of taxes 0.01 (0.01) (0.03)
Diluted earnings per share $ 5.34 $ 4.45 $ 1.84
See notes to the consolidated financial statements on pages 55 – 108.
49