Medtronic 2007 Annual Report Download - page 54
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Fiscal Year
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Net sales $ 12,299 $ 11,292 $ 10,055
Costs and expenses:
Cost of products sold 3,168 2,815 2,446
Research and development expense 1,239 1,113 951
Selling, general and administrative expense 4,153 3,659 3,214
Special charges 98 100 Ñ
Restructuring charges 28 ÑÑ
Certain litigation charges 40 Ñ 654
Purchased in-process research and development (IPR&D) charges Ñ364 Ñ
Other expense, net 212 167 291
Interest income, net (154) (87) (45)
Total costs and expenses 8,784 8,131 7,511
Earnings before income taxes 3,515 3,161 2,544
Provision for income taxes 713 614 740
Net earnings $ 2,802 $ 2,547 $ 1,804
Earnings per share:
Basic $ 2.44 $ 2.11 $ 1.49
Diluted $ 2.41 $ 2.09 $ 1.48
Weighted average shares outstanding:
Basic 1,149.7 1,204.5 1,209.0
Diluted 1,161.8 1,217.3 1,220.8
Cash dividends declared per common share $ 0.44 $ 0.39 $ 0.34
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