E-Z-GO 2005 Annual Report Download - page 59

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39
Consolidated Statements of Operations
For each of the years in the three-year period ended December 31, 2005
(In millions, except per share amounts)
2005 2004 2003
Revenues
Manufacturing revenues $ 9,415 $ 7,773 $ 7,483
Finance revenues 628 545 572
Total revenues 10,043 8,318 8,055
Costs, expenses and other
Cost of sales 7,464 6,206 6,106
Selling and administrative 1,403 1,209 1,107
Interest expense, net 290 246 275
Provision for losses on finance receivables 29 58 81
Special charges 118 59 77
Gain on sale of businesses — — (15)
Total costs, expenses and other 9,304 7,778 7,631
Income from continuing operations before income taxes and distributions
on preferred securities of subsidiary trusts 739 540 424
Income taxes (223) (165) (109)
Distributions on preferred securities of subsidiary trusts, net of income taxes — — (13)
Income from continuing operations 516 375 302
Loss from discontinued operations, net of income taxes (313) (10) (43)
Net income $ 203 $ 365 $ 259
Per common share:
Basic:
Income from continuing operations $ 3.86 $ 2.73 $ 2.22
Loss from discontinued operations, net of income taxes (2.34) (0.07) (0.31)
Net income $ 1.52 $ 2.66 $ 1.91
Diluted:
Income from continuing operations $ 3.78 $ 2.68 $ 2.20
Loss from discontinued operations, net of income taxes (2.29) (0.07) (0.31)
Net income $ 1.49 $ 2.61 $ 1.89
See Notes to the Consolidated Financial Statements.