Baker Hughes 2013 Annual Report Download - page 76

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2013 Annual Report 46
BAKER HUGHES INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
(In millions, except per share amounts) 2013 2012 2011
Revenue:
Sales $ 7,594 $ 7,274 $ 6,382
Services 14,770 14,087 13,449
Total revenue 22,364 21,361 19,831
Costs and expenses:
Cost of sales 5,932 5,758 5,122
Cost of services 12,621 11,598 10,142
Research and engineering 556 497 462
Marketing, general and administrative 1,306 1,316 1,190
Impairment of trade names — — 315
Total costs and expenses 20,415 19,169 17,231
Operating income 1,949 2,192 2,600
Interest expense, net (234) (210) (221)
Loss on early extinguishment of debt — — (40)
Income before income taxes 1,715 1,982 2,339
Income taxes (612) (665) (596)
Net income 1,103 1,317 1,743
Net income attributable to noncontrolling interests (7) (6) (4)
Net income attributable to Baker Hughes $ 1,096 $ 1,311 $ 1,739
Basic earnings per share attributable to Baker Hughes $ 2.47 $ 2.98 $ 3.99
Diluted earnings per share attributable to Baker Hughes $ 2.47 $ 2.97 $ 3.97
See Notes to Consolidated Financial Statements