Cemex 1999 Annual Report Download - page 48

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46
YEARS ENDED ON DECEMBER 31,
1999 1998 1997
Equity in income of subsidiaries
and affiliates $ 7,627,682 6,152,058 5,495,700
Rental income 341,725 134,908 152,935
License fees 1,075,491 559,573 420,379
Total revenues (note 12) 9,044,898 6,846,539 6,069,014
Administrative expenses (106,924) (116,367) (95,408)
Operating income 8,937,974 6,730,172 5,973,606
Comprehensive financing income (cost):
Financial expenses (4,013,375) (5,003,313) (4,083,175)
Financial income 543,409 39,277 525,883
Foreign exchange result, net 845,379 (2,137,634) (257,697)
Monetary position result 3,480,464 6,533,743 4,699,057
Net comprehensive financing
income (cost) 855,877 (567,927) 884,068
Other (expense) income, net (609,610) 37,622 115,221
Income before income taxes 9,184,241 6,199,867 6,972,895
Income tax benefit and business assets tax,
net (note 16) 64,805 1,760,977 760,284
Net income $ 9,249,046 7,960,844 7,733,179
Basic Earnings Per Share
(note 2A and note 20) $ 2.45 2.10 2.01
Diluted Earnings Per Share
(note 2A and note 20) $ 2.44 2.10 1.98
See accompanying notes to financial statements.
CEMEX, S.A. DE C.V. (PARENT COMPANY ONLY)
(THOUSANDS OF CONSTANT MEXICAN PESOS AS OF DECEMBER 31, 1999, EXCEPT FOR EARNINGS PER SHARE)
STATEMENTS OF INCOME