Canon 2003 Annual Report Download - page 49

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47
Thousands of
Millions of yen U.S. dollars (note 2)
2003 2002 2001 2003
Net sales ¥3,198,072 2,940,128 2,907,573 $29,888,523
Cost of sales 1,589,172 1,540,097 1,626,959 14,852,075
Gross profit 1,608,900 1,400,031 1,280,614 15,036,448
Selling, general and administrative expenses 1,154,476 1,053,672 998,775 10,789,495
Operating profit 454,424 346,359 281,839 4,246,953
Other income (deductions):
Interest and dividend income 9,284 9,198 9,571 86,766
Interest expense (4,627) (6,788) (10,712) (43,243)
Other, net (10,911) (18,752) 868 (101,971)
(6,254) (16,342) (273) (58,448)
Income before income taxes and minority interests 448,170 330,017 281,566 4,188,505
Income taxes (note 12) 162,653 134,703 115,154 1,520,122
Income before minority interests 285,517 195,314 166,412 2,668,383
Minority interests 9,787 4,577 2,543 91,467
Income before cumulative effect of change in
accounting principle 275,730 190,737 163,869 2,576,916
Cumulative effect of change in accounting principle, net of
tax (note 1(q)) ——3,692 —
Net income ¥275,730 190,737 167,561 $2,576,916
Yen U.S. dollars (note 2)
Earnings per share (notes 1(s) and 17):
Basic:
Income before cumulative effect of change
in accounting principle ¥313.81 217.56 187.07 $2.93
Cumulative effect of change in accounting principle ——4.22 —
Net income ¥313.81 217.56 191.29 $2.93
Diluted:
Income before cumulative effect of change
in accounting principle ¥310.75 214.80 184.55 $2.90
Cumulative effect of change in accounting principle ——4.15 —
Net income ¥310.75 214.80 188.70 $2.90
See accompanying notes to consolidated financial statements.
CANON INC. AND SUBSIDIARIES
Years ended December 31, 2003, 2002 and 2001
CONSOLIDATED STATEMENTS OF INCOME