E-Z-GO 2006 Annual Report Download - page 33

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12
Item 6. Selected Financial Data
(Dollars in millions, except per share amounts and where otherwise noted)
2006 2005 2004 2003 2002
Revenues
Bell $ 3,408 $ 2,881 $ 2,254 $ 2,348 $ 2,235
Cessna 4,156 3,480 2,473 2,299 3,175
Industrial 3,128 3,054 3,046 2,836 2,627
Finance 798 628 545 572 584
Total revenues $ 11,490 $ 10,043 $ 8,318 $ 8,055 $ 8,621
Segment profit
Bell $ 249 $ 368 $ 250 $ 234 $ 169
Cessna 645 457 267 199 376
Industrial 163 150 194 150 169
Finance 210 171 139 122 118
Total segment profit 1,267 1,146 850 705 832
Special charges — (118) (59) (77) (109)
Gain on sale of businesses — — — 15 25
Corporate expenses and other, net (202) (199) (157) (123) (119)
Interest expense, net (90) (90) (94) (96) (105)
Income taxes (269) (223) (165) (109) (157)
Distributions on preferred securities, net of income taxes — — — (13) (26)
Income from continuing operations* $ 706 $ 516 $ 375 $ 302 $ 341
Per share of common stock
Income from continuing operations – basic* $ 5.53 $ 3.86 $ 2.73 $ 2.22 $ 2.46
Income from continuing operations – diluted* $ 5.43 $ 3.78 $ 2.68 $ 2.20 $ 2.43
Dividends declared $ 1.55 $ 1.40 $ 1.33 $ 1.30 $ 1.30
Book value at year-end $ 21.03 $ 25.10 $ 26.91 $ 26.81 $ 24.87
Common stock price: High $ 98.38 $ 80.05 $ 74.63 $ 57.70 $ 53.17
Low $ 75.76 $ 65.85 $ 50.84 $ 26.85 $ 32.49
Year-end $ 93.77 $ 76.98 $ 73.80 $ 57.19 $ 42.16
Common shares outstanding
(In thousands)
Basic average 127,549 133,531 137,337 135,875 138,745
Diluted average** 130,222 136,446 140,169 137,217 140,252
Year-end 125,596 130,185 135,373 137,238 136,500
Financial position
Total assets $ 17,550 $ 16,499 $ 15,875 $ 15,171 $ 15,692
Debt:
Manufacturing group $ 1,800 $ 1,934 $ 1,770 $ 2,008 $ 1,681
Finance group $ 6,862 $ 5,420 $ 4,783 $ 4,407 $ 4,840
Mandatorily redeemable preferred securities trusts:
Manufacturing group $ — $ — $ — $ — $ 485
Finance group $ — $ — $ — $ 26 $ 27
Shareholders’ equity $ 2,649 $ 3,276 $ 3,652 $ 3,690 $ 3,406
Manufacturing group debt-to-capital (net of cash) 29% 26% 25% 30% 36%
Manufacturing group debt-to-capital 40% 37% 33% 35% 39%
Investment data
Capital expenditures, including capital leases $ 447 $ 380 $ 294 $ 289 $ 272
Depreciation $ 271 $ 284 $ 265 $ 260 $ 259
Research and development $ 786 $ 692 $ 574 $ 573 $ 575
Other data
Number of employees at year-end 40,000 37,000 34,000 31,000 36,000
Number of common shareholders at year-end 16,000 17,000 18,000 19,000 20,000
* Income from continuing operations is before the cumulative effect of a change in accounting principle in 2002.
** Diluted average common shares outstanding assumes full conversion of outstanding preferred stock and exercise of stock options.