Comcast 2008 Annual Report Download - page 44

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Consolidated Statement of Operations
Year ended December 31 (in millions, except per share data) 2008 2007 2006
Revenue $ 34,256 $ 30,895 $ 24,966
Costs and Expenses:
Operating (excluding depreciation and amortization) 13,472 12,169 9,819
Selling, general and administrative 7,652 6,940 5,705
Depreciation 5,457 5,107 3,828
Amortization 943 1,101 995
27,524 25,317 20,347
Operating income 6,732 5,578 4,619
Other Income (Expense):
Interest expense (2,439) (2,289) (2,064)
Investment income (loss), net 89 601 990
Equity in net income (losses) of affiliates, net (39) (63) (65)
Other income (expense) (285) 522 114
(2,674) (1,229) (1,025)
Income from continuing operations before income taxes and minority interest 4,058 4,349 3,594
Income tax expense (1,533) (1,800) (1,347)
Income from continuing operations before minority interest 2,525 2,549 2,247
Minority interest 22 38 (12)
Income from continuing operations 2,547 2,587 2,235
Income from discontinued operations, net of tax —— 103
Gain on discontinued operations, net of tax —— 195
Net income $ 2,547 $ 2,587 $ 2,533
Basic earnings per common share
Income from continuing operations $0.87 $ 0.84 $ 0.71
Income from discontinued operations ——0.03
Gain on discontinued operations ——0.06
Net income $0.87 $ 0.84 $ 0.80
Diluted earnings per common share
Income from continuing operations $0.86 $ 0.83 $ 0.70
Income from discontinued operations ——0.03
Gain on discontinued operations ——0.06
Net income $0.86 $ 0.83 $ 0.79
Dividends declared per common share $ 0.25 $— $—
See notes to consolidated financial statements.
Comcast 2008 Annual Report on Form 10-K 42