UPS 2005 Annual Report Download - page 63

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2005 2004 2003
Revenue .......................................................... $42,581 $36,582 $33,485
Operating Expenses:
Compensation and benefits ....................................... 22,517 20,823 19,251
Other......................................................... 13,921 10,770 9,789
36,438 31,593 29,040
Operating Profit .................................................... 6,143 4,989 4,445
Other Income and (Expense):
Investment income .............................................. 104 82 18
Interest expense ................................................ (172) (149) (121)
Gain on redemption of long-term debt ............................... — — 28
(68) (67) (75)
IncomeBeforeIncomeTaxes ......................................... 6,075 4,922 4,370
IncomeTaxes ...................................................... 2,205 1,589 1,472
NetIncome ........................................................ $ 3,870 $ 3,333 $ 2,898
Basic Earnings Per Share ............................................. $ 3.48 $ 2.95 $ 2.57
DilutedEarningsPerShare ........................................... $ 3.47 $ 2.93 $ 2.55
See notes to consolidated financial statements.
F-7