Fluor 2008 Annual Report Download - page 91

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FLUOR CORPORATION
CONSOLIDATED STATEMENT OF EARNINGS
Year Ended December 31,
(in thousands, except per share amounts) 2008 2007 2006
TOTAL REVENUE $22,325,894 $16,691,033 $14,078,506
TOTAL COST OF REVENUE
Cost of revenue 21,116,197 15,888,587 13,522,033
Gain on sale of joint venture interest (79,209) — —
OTHER (INCOME) AND EXPENSES
Corporate administrative and general expense 229,169 193,862 178,817
Interest expense 11,927 24,015 23,013
Interest income (66,592) (64,524) (27,347)
Total cost and expenses 21,211,492 16,041,940 13,696,516
EARNINGS BEFORE TAXES 1,114,402 649,093 381,990
INCOME TAX EXPENSE 393,944 115,774 118,538
NET EARNINGS $ 720,458 $ 533,319 $ 263,452
BASIC EARNINGS PER SHARE* $ 4.06 $ 3.06 $ 1.53
DILUTED EARNINGS PER SHARE* $ 3.93 $ 2.93 $ 1.48
SHARES USED TO CALCULATE EARNINGS PER SHARE*
Basic 177,658 174,504 172,674
Diluted 183,460 182,178 178,392
* All share and per share amounts were adjusted for the July 16, 2008 two-for-one stock split.
See Notes to Consolidated Financial Statements.
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