Chevron 2004 Annual Report Download - page 51

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CHEVRONTEXACO CORPORATION 2004 ANNUAL REPORT 49
Year ended December 31
 2003 2002

Sales and other operating revenues1,2  $ 119,575 $ 98,340
Income (loss) from equity affiliates  1,029 (25)
Other income  308 222
Gain from exchange of Dynegy preferred stock 365 –
  121,277 98,537

Purchased crude oil and products2  71,310 57,051
Operating expenses  8,500 7,795
Selling, general and administrative expenses  4,440 4,155
Exploration expenses  570 591
Depreciation, depletion and amortization  5,326 5,169
Taxes other than on income1  17,901 16,682
Interest and debt expense  474 565
Minority interests  80 57
Write-down of investments in Dynegy Inc. – 1,796
Merger-related expenses – 576
  108,601 94,437
  12,676 4,100
  5,294 2,998
  7,382 1,102
  44 30
   $ 7,426 $ 1,132
Cumulative effect of changes in accounting principles (196) –
   $ 7,230 $ 1,132

 
  $ 3.55 $ 0.52
  $ 3.55 $ 0.52
 
  $ 0.02 $ 0.01
  $ 0.02 $ 0.01

   $ (0.09) $ –
   $ (0.09) $ –
 
  $ 3.48 $ 0.53
  $ 3.48 $ 0.53
1 Includes consumer excise taxes:   $ 7,095 $ 7,006
2 Includes amounts in revenues for buy/sell contracts (associated costs are in “Purchased crude oil and products”)
See Note 16 on page 65:  $ 14,246 $ 7,963
3
All periods reflect a two-for-one stock split effected as a 100 percent stock dividend in September 2004.
See accompanying Notes to the Consolidated Financial Statements.
Consolidated Statement of Income
Millions฀of฀dollars,฀except฀per-share฀amounts