DuPont 2006 Annual Report Download - page 18

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ITEM 6. SELECTED FINANCIAL DATA
(Dollars in millions, except per share) 2006 2005
1
2004 2003 2002
Summary of operations
Net sales $27,421 $26,639 $27,340 $26,996 $24,006
Income before income taxes and minority interests $ 3,329 $ 3,563 $ 1,442 $ 143 $ 2,124
Provision for (benefit from) income taxes $ 196 $ 1,470 $ (329) $ (930) $ 185
Income before cumulative effect of changes in
accounting principles
$ 3,148 $ 2,056 $ 1,780 $ 1,002 $ 1,841
Net income (loss) $ 3,148 $ 2,056 $ 1,780 $ 973
2
$ (1,103)
3
Basic earnings (loss) per share of common stock
Income before cumulative effect of changes in
accounting principles
$ 3.41 $ 2.08 $ 1.78 $ 1.00 $ 1.84
Net income (loss) $ 3.41 $ 2.08 $ 1.78 $ 0.97
2
$ (1.12)
3
Diluted earnings (loss) per share of common stock
Income before cumulative effect of changes in
accounting principles
$ 3.38 $ 2.07 $ 1.77 $ 0.99 $ 1.84
Net income (loss) $ 3.38 $ 2.07 $ 1.77 $ 0.96
2
$ (1.11)
3
Financial position at year-end
Working capital $ 4,930 $ 4,986 $ 7,272 $ 5,419 $ 6,363
Total assets $31,777
4
$33,291 $35,632 $37,039 $34,621
Borrowings and capital lease obligations
Short-term $ 1,517 $ 1,397 $ 937
5
$ 6,017
5
$ 1,185
Long-term $ 6,013 $ 6,783 $ 5,548 $ 4,462
5
$ 5,647
Stockholders’ equity $ 9,422
4
$ 8,962 $11,377 $ 9,781 $ 9,063
General
For the year
Purchases of property, plant & equipment and
investments in affiliates
$ 1,563 $ 1,406 $ 1,298 $ 1,784 $ 1,416
Depreciation $ 1,157 $ 1,128 $ 1,124 $ 1,355 $ 1,297
Research and development (R&D) expense $ 1,302 $ 1,336 $ 1,333 $ 1,349 $ 1,264
Average number of common shares outstanding
(millions)
Basic 921 982 998 997 994
Diluted 929 989 1,003 1,000 999
Dividends per common share $ 1.48 $ 1.46 $ 1.40 $ 1.40 $ 1.40
At year-end
Employees (thousands) 59 60 60 81 79
Closing stock price $ 48.71 $ 42.50 $ 49.05 $ 45.89 $ 42.40
Common stockholders of record (thousands) 84 101 106 111 116
1In the fourth quarter 2006, the company adopted FSP AUG AIR-1, “Accounting for Planned Major Maintenance Activities,” and
retrospectively applied these provisions effective January 1, 2005. The effects of the accounting change on the company’s results of
operations and financial position for the year ended December 31, 2005 were not material. See Note 1 to the Consolidated Financial
Statements.
2Includes a cumulative effect of a change in accounting principle charge of $29 million or $0.03 per share, basic and diluted, relating to
the adoption of Statement of Financial Accounting Standards (SFAS) No. 143, “Accounting for Asset Retirement Obligations”.
3Includes a cumulative effect of a change in accounting principle charge of $2,944 million or $2.96 (basic) and $2.95 (diluted) per
share, relating to the adoption of SFAS No. 142, “Goodwill and Other Intangible Assets” (SFAS 142).
4On December 31, 2006, the company adopted Statement of Financial Accounting Standards (SFAS) No. 158, “Employers’ Accounting
for Defined Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements No. 87, 88, 106 and 132(R).” Total
assets and stockholders’ equity were reduced by $2,159 million and $1,555 million, respectively, as a result of such adoption.
5Includes borrowings and capital lease obligations classified as liabilities held for sale.
18
Part II