Tyson Foods 2003 Annual Report Download - page 47

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Tyson Foods, Inc. 45
notes to consolidated financial statements
TYSON FOODS, INC. 2003 ANNUAL REPORT
Condensed Consolidating Statement of Income for the year ended September 27, 2003
in millions Tyson IBP Adjustments Consolidated
Sales $ 8,092 $16,477 $ (20) $ 24,549
Cost of Sales 7,135 15,690 (20) 22,805
957 787 – 1,744
Operating Expenses:
Selling, general and administrative 524 307 831
Other charges 76 – 76
Operating Income 357 480 837
Interest and Other Expense 226 88 314
Income Before Income Taxes
and Minority Interest 131 392 523
Provision for Income Taxes 47 139 186
Net Income $ 84 $ 253 $ – $ 337
Condensed Consolidating Statement of Income for the year ended September 28, 2002
in millions Tyson IBP Adjustments Consolidated
Sales $ 7,848 $15,563 $ (44) $ 23,367
Cost of Sales 6,900 14,694 (44) 21,550
948 869 – 1,817
Operating Expenses:
Selling, general and administrative 509 368 877
Other charges 26 27 53
Operating Income 413 474 887
Interest and Other Expense 243 51 294
Income Before Income Taxes
and Minority Interest 170 423 593
Provision for Income Taxes 53 157 210
Minority Interest –
Net Income $ 117 $ 266 $ – $ 383