DuPont 2007 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2007 DuPont annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

The following average number of stock options are antidilutive and therefore, are not included in the diluted earnings
per share calculation:
2007 2006 2005
Average number of stock options 23,252,000 63,294,000 52,958,000
The 40 million decrease in the average number of stock options that were antidilutive in 2007 compared to 2006 was
primarily due to the increase in the company’s average stock price. Additionally, there were 12.8 million stock options
that expired unexercised and were cancelled in January 2007, which were included in the average number of stock
options that were antidilutive in 2006.
8. ACCOUNTS AND NOTES RECEIVABLE
December 31, 2007 2006
Accounts receivable-trade-net of allowances of $261 in 2007 and $233 in 2006 $4,649 $4,335
Other 1,034 863
$5,683 $5,198
Accounts and notes receivable are carried at amounts that approximate fair value and include amounts due from
equity affiliates of $27 for 2007, and $58 for 2006.
9. INVENTORIES
December 31, 2007 2006
Finished products $3,043 $3,075
Semifinished products 1,865 1,616
Raw materials, stores and supplies 1,000 804
5,908 5,495
Adjustment of inventories to a LIFO basis (630) (554)
$5,278 $4,941
Inventory values, before LIFO adjustment, are generally determined by the average cost method, which
approximates current cost. Inventories, excluding seeds and stores and supplies, are valued under the LIFO
method and comprised 80 percent of consolidated inventories before LIFO adjustment for the periods ended
December 31, 2007 and 2006. Seed inventories of $1,369 and $1,115 at December 31, 2007 and 2006, respectively,
were valued under the FIFO method. Stores and supplies inventories of $259 and $281 at December 31, 2007 and
2006, respectively, were valued under the average cost method.
10. PROPERTY, PLANT AND EQUIPMENT
December 31, 2007 2006
Buildings $ 4,111 $ 4,081
Equipment 20,537 20,058
Land 426 417
Construction 1,519 1,163
$26,593 $25,719
F-19
E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)