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2008 ANNUAL REPORT 39
Consolidated Statements of Operations
Fiscal Year Ended
In millions, except per share amounts Dec. 31, 2008 Dec. 29, 2007 Dec. 30, 2006
Net revenues $ 87,471.9 $ 76,329.5 $ 43,821.4
Cost of revenues 69,181.5 60,221.8 32,079.2
Gross profi t 18,290.4 16,107.7 11,742.2
Total operating expenses 12,244.2 11,314.4 9,300.6
Operating profi t 6,046.2 4,793.3 2,441.6
Interest expense, net 509.5 434.6 215.8
Earnings before income tax provision 5,536.7 4,358.7 2,225.8
Income tax provision 2,192.6 1,721.7 856.9
Earnings from continuing operations 3,344.1 2,637.0 1,368.9
Loss from discontinued operations,
net of income tax benefi t of $82.4 (132.0) – –
Net earnings 3,212.1 2,637.0 1,368.9
Preference dividends, net of income tax benefi t 14.1 14.2 13.9
Net earnings available to common shareholders $ 3,198.0 $ 2,622.8 $ 1,355.0
BASIC EARNINGS PER COMMON SHARE:
Earnings from continuing operations $ 2.32 $ 1.97 $ 1.65
Loss from discontinued operations (0.09) – –
Net earnings $ 2.23 $ 1.97 $ 1.65
Weighted average common shares outstanding 1,433.5 1,328.2 820.6
DILUTED EARNINGS PER COMMON SHARE:
Earnings from continuing operations $ 2.27 $ 1.92 $ 1.60
Loss from discontinued operations (0.09) – –
Net earnings $ 2.18 $ 1.92 $ 1.60
Weighted average common shares outstanding 1,469.1 1,371.8 853.2
Dividends declared per common share $ 0.25800 $ 0.22875 $ 0.15500
See accompanying notes to consolidated fi nancial statements.