Dow Chemical 2009 Annual Report Download - page 58

Table of Contents
The Dow Chemical Company and Subsidiaries
PART II, Item 6. Selected Financial Data.
In millions, except as noted (Unaudited) 2004 2003 2002 2001 2000 1999
Summary of Operations (1)
Net sales (2) $ 40,063 $ 32,536 $ 27,545 $ 27,988 $ 29,727 $ 26,065
Cost of sales (2) 34,175 28,110 23,737 23,838 24,256 20,377
Research and development expenses 1,022 981 1,066 1,072 1,119 1,075
Selling, general and administrative
expenses 1,434 1,390 1,595 1,762 1,822 1,773
Amortization of intangibles 81 63 65 178 139 160
Special charges: restructuring, merger-
related, asbestos-related, IPR&D,
impariment losses 543 - 1,108 1,556 6 100
Equity in earnings of nonconsolidated
affiliates 923 322 40 29 354 95
Sundry income - net 699 146 54 394 352 329
Interest expense - net 661 736 708 648 519 432
Income (Loss) from continuing
operations before income taxes 3,769 1,724 (640) (643) 2,572 2,572
Provision (Credit) for income taxes 867 (92) (287) (239) 834 867
Net income (loss) from continuing
operations 2,902 1,816 (353) (404) 1,738 1,705
Income from discontinued operations,
net of income taxes 17 17 11 19 9 11
Net income attributable to
noncontrolling interests 122 94 63 32 72 74
Preferred stock dividends - - - - - 5
Income (Loss) before cumulative effect
of changes in accounting principles 2,797 1,739 (405) (417) 1,675 1,637
Cumulative effect of changes in
accounting principles - (9) 67 32 - (20)
Net income (loss) available for The
Dow Chemical Company common
stockholders $ 2,797 $ 1,730 $ (338) $ (385) $ 1,675 $ 1,617
Per share of common stock (in dollars):
(3)
Net income (loss) from continuing
operations per common share - basic 2.96 1.86 (0.38) (0.45) 1.87 1.84
Discontinued operations per common
share - basic 0.02 0.02 0.01 0.02 0.01 0.01
Earnings (Loss) per common share -
basic 2.98 1.88 (0.37) (0.43) 1.88 1.85
Net income (loss) from continuing
operations per common share - diluted 2.91 1.85 (0.38) (0.45) 1.84 1.80
Discontinued operations per common
share - diluted 0.02 0.02 0.01 0.02 0.01 0.02
Earnings (Loss) per common share -
diluted 2.93 1.87 (0.37) (0.43) 1.85 1.82
Cash dividends declared per share of
common stock 1.34 1.34 1.34 1.295 1.16 1.16
Cash dividends paid per share of
common stock 1.34 1.34 1.34 1.25 1.16 1.16
Book value per share of common
stock 12.88 9.89 8.36 11.04 13.22 12.40
Weighted-average common shares
outstanding - basic (3) 940.1 918.8 910.5 901.8 893.2 874.9
Weighted-average common shares
outstanding - diluted (3) 953.8 926.1 910.5 901.8 904.5 893.5
Convertible preferred shares
outstanding (thousands) - - - - - 1.3
Year-end Financial Position
Total assets $ 45,885 $ 41,891 $ 39,562 $ 35,515 $ 35,991 $ 33,456
Working capital 5,384 3,578 2,519 2,183 1,150 2,848
Property - gross 41,898 40,812 37,934 35,890 34,852 33,333
Property - net 13,828 14,217 13,797 13,579 13,711 13,011
Long-term debt and redeemable