Konica Minolta 2004 Annual Report Download - page 44

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Consolidated Statements of Income
42
Konica Minolta Holdings, Inc. and Consolidated Subsidiaries
For the fiscal years ended March 31, 2004 and 2003
Thousands of
U.S. dollars
Millions of yen (Note 3)
2004 2003 2004
Net Sales ¥860,420 ¥559,041 $8,140,978
Cost of Sales 498,967 321,381 4,721,043
Gross profit 361,453 237,660 3,419,936
Selling, General and Administrative Expenses 303,922 194,804 2,875,598
Operating income 57,530 42,855 544,328
Other Income (Expenses):
Interest and dividend income 1,003 1,051 9,490
Interest expenses (5,190) (4,484) (49,106)
Foreign exchange losses, net (4,177) (2,397) (39,521)
Equity in earnings of unconsolidated subsidiaries and affiliates, net 61 310 577
Losses on disposal of fixed assets, net (2,477) (3,112) (23,436)
Management integration rationalization expenses* (5,022) —(47,516)
Gain on transfer to the government of the substitutional portion of
pension liabilities (Note 12) —8,081 —
Additional contribution on withdrawals from the Welfare Pension
Fund plans (Note 12) (513) (543) (4,854)
Loss on transition to defined contribution plans from defined
benefit plans (Note 12) (180) (2,993) (1,703)
Provision of reserve for reorganization/liquidation expenses —(5,637) —
Write-down on investment securities (451) (2,167) (4,267)
Amortization of unrecognized transition benefit obligations (Note 12) (1,540) (1,325) (14,571)
Prior periods’ expenses of accrued retirement benefits for directors
and corporate auditors (513) —(4,854)
Loss on disposal of inventories (5,687) (3,879) (53,808)
Other, net (476) (1,030) (4,504)
Total (25,167) (18,126) (238,121)
Income before income taxes 32,363 24,728 306,207
Income Taxes (Note 7):
Current 22,466 14,375 212,565
Deferred (2,841) (6,195) (26,880)
Total 19,624 8,180 185,675
Minority Interests in Earnings of Consolidated Subsidiaries (189) (172) (1,788)
Net Income ¥ 12,548 ¥ 16,375 $ 118,725
U.S. dollars
Yen (Note 3)
Per Share of Common Stock:
Net income ¥ 26.5 ¥ 45.7 $ 0.25
Cash dividends 10.0 10.0 0.09
*Restructuring expenses for offices of ¥1,781 million (US$16,851 thousand) and for employees of European subsidiaries of ¥3,241 million (US$30,665 thousand).
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.