CenturyLink 2005 Annual Report Download - page 21
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19
Consolidated Statements of Income
Consolidated Statements of Income
Dollars, except per share amounts,
and shares in thousands
Year ended December 31,
2005 2004 2003
Operating Revenues $2,479,252 2,407,372 2,367,610
Operating Expenses
Cost of services and products
(exclusive of depreciation and amortization) 821,929 755,413 739,210
Selling, general and administrative 388,989 397,102 374,352
Depreciation and amortization 531,931 500,904 503,652
Total operating expenses 1,742,849 1,653,419 1,617,214
Operating Income 736,403 753,953 750,396
Other Income (Expense)
Interest expense (201,801) (211,051) (226,751)
Income from unconsolidated cellular entity 4,910 7,067 6,160
Other income (expense) (1,742) (2,597) 2,154
Total other income (expense) (198,633) (206,581) (218,437)
Income Before Income Tax Expense 537,770 547,372 531,959
Income tax expense 203,291 210,128 187,252
Net Income $ 334,479 337,244 344,707
Basic Earnings per Share $ 2.55 2.45 2.40
Diluted Earnings per Share $ 2.49 2.41 2.35
Dividends per Common Share $ 0.24 0.23 0.22
Average Basic Shares Outstanding 130,841 137,215 143,583
Average Diluted Shares Outstanding 136,087 142,144 148,779