DuPont 2008 Annual Report Download - page 106

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26. QUARTERLY FINANCIAL DATA (UNAUDITED)
March 31, June 30, September 30, December 31,
For The Quarter Ended
2008
Net sales $8,575 $8,837 $7,297 $5,820
Cost of goods sold and other expenses
1
7,220 7,773 7,149 6,927
Income (loss) before income taxes and
minority interests 1,470 1,412 470
3
(961)
4
Net income (loss) 1,191 1,078 367 (629)
Basic earnings (loss) per share of common
stock
2
1.32 1.19 0.40 (0.70)
Diluted earnings (loss) per share of common
stock
2
1.31 1.18 0.40 (0.70)
2007
Net sales $7,845 $7,875 $6,675 $6,983
Cost of goods sold and other expenses
1
6,750 6,823 6,297 6,610
Income before income taxes and minority
interests 1,312
5
1,308 630
6
493
7
Net income 945 972 526 545
8
Basic earnings per share of common stock
2
1.02 1.05 0.57 0.60
Diluted earnings per share of common stock
2
1.01 1.04 0.56 0.60
1
Excludes interest expense and nonoperating items.
2
Earnings per share for the year may not equal the sum of quarterly earnings per share due to changes in average share calculations.
3
Includes a $227 charge for damaged facilities, inventory write-offs, clean-up costs, and other costs related to the Hurricanes Ike and Gustav.
4
Includes a $535 charge for employee separation payments and asset-related charges associated with the 2008 global restructuring program.
5
Includes a net $52 charge for existing litigation in the Performance Materials segment in connection with the elastomers antitrust matter. See
Note 19 for more details.
6
Includes a $40 charge for existing litigation in Other relating to a former business. See Note 19 under the heading Spelter, West Virginia, for
more details.
7
Includes an impairment charge of $165 to write down the company’s investment in a polyester films joint venture in the Performance Materials
segment. This charge was partially offset by a net $32 benefit resulting from the reversal of certain litigation accruals in the Performance
Materials segment established in prior periods for the elastomers antitrust matter (see Note 19 for more details) and a $6 benefit for the
reversal of accrued interest associated with the favorable settlement of certain prior year tax contingencies.
8
Includes a benefit of $108 for the reversal of income tax accruals associated with the favorable settlement of certain prior year tax
contingencies.
F-50
E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)