Kodak 2005 Annual Report Download - page 68
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66
For the Year Ended December 31,
(in millions, except per share data) 2005 2004 2003
Net sales $ 14,268 $ 13,517 $ 12,909
Cost of goods sold 10,617 9,582 8,751
Gross profi t 3,651 3,935 4,158
Selling, general and administrative expenses 2,668 2,491 2,617
Research and development costs 892 836 760
Restructuring costs and other 690 695 479
(Loss) earnings from continuing operations before interest,
other income (charges), net and income taxes (599) (87) 30 2
Interest expense 211 168 147
O the r in c ome ( c ha rg es ) , n et 4 4 16 1 ( 51)
(Loss) earnings from continuing operations before income taxes (766) (94) 104
Provision (benefi t) for income taxes 689 (175) (85)
(Loss) earnings from continuing operations $ (1,455) $ 81 $ 189
Earnings from discontinued operations, net of income taxes $ 150 $ 475 $ 64
Loss from cumulative effect of accounting change, net of income taxes $ (57) $ — $ —
Net (Loss) Earnings $ (1,362) $ 556 $ 253
Basic and diluted net (loss) earnings per share:
Continuing operations $ (5.05) $ .28 $ .66
Discontinued operations .52 1.66 .22
Cumulative effect of accounting change (.20) — —
Total $ (4.73) $ 1.94 $ .88
Cash dividends per share $ .50 $ .50 $ 1.15
The accompanying notes are an integral part of these consolidated fi nancial statements.
Eastman Kodak Company
Consolidated Statement of Operations