Kraft 2008 Annual Report Download - page 47

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Item 8. Financial Statements and Supplementary Data.
Kraft Foods Inc. and Subsidiaries
Consolidated Statements of Earnings
for the years ended December 31,
(in millions of dollars, except per share data)
2007 2006 2005
Net revenues $ 37,241 $ 34,356 $ 34,113
Cost of sales 24,651 21,940 21,845
Gross profit 12,590 12,416 12,268
Marketing, administration and research costs 7,809 7,254 7,138
Asset impairment and exit costs 452 1,002 479
Gain on redemption of United Biscuits investment - (251) -
Gains on divestitures, net (15) (117) (108)
Amortization of intangibles 13 7 10
Operating income 4,331 4,521 4,749
Interest and other debt expense, net 604 510 636
Earnings from continuing operations before income taxes 3,727 4,011 4,113
Provision for income taxes 1,137 951 1,209
Earnings from continuing operations 2,590 3,060 2,904
Loss from discontinued operations, net of income taxes - - (272)
Net earnings $ 2,590 $ 3,060 $ 2,632
Per share data:
Basic earnings per share:
Continuing Operations $ 1.64 $ 1.86 $ 1.72
Discontinued Operations - - (0.16)
Net Earnings $ 1.64 $ 1.86 $ 1.56
Diluted earnings per share:
Continuing Operations $ 1.62 $ 1.85 $ 1.72
Discontinued Operations - - (0.17)
Net Earnings $ 1.62 $ 1.85 $ 1.55
Dividends declared $ 1.04 $ 0.96 $ 0.87
See notes to consolidated financial statements.
45
Source: KRAFT FOODS INC, 10-K, February 25, 2008 Powered by Morningstar® Document Research℠