Sunoco 2004 Annual Report Download - page 48

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Consolidated Statements of Operations Sunoco, Inc. and Subsidiaries
(Millions of Dollars and Shares, Except Per Share Amounts)
For the Years Ended December 31 2004 2003* 2002
Revenues
Sales and other operating revenue (including consumer excise taxes) $25,468 $17,969 $14,299
Interest income 10 77
Other income, net (Notes 2, 3 and 4) 30 40 78
25,508 18,016 14,384
Costs and Expenses
Cost of products sold and operating expenses 20,734 14,154 11,430
Consumer excise taxes 2,282 1,999 1,834
Selling, general and administrative expenses 873 752 622
Depreciation, depletion and amortization 409 369 329
Payroll, property and other taxes 118 105 100
Provision for write-down of assets and other matters (Note 2) —28 34
Interest cost and debt expense 108 117 111
Interest capitalized (11) (3) (3)
24,513 17,521 14,457
Income (loss) before income tax expense (benefit) 995 495 (73)
Income tax expense (benefit) (Note 4) 390 183 (26)
Net Income (Loss) $ 605 $ 312 $ (47)
Earnings (Loss) Per Share of Common Stock:
Basic $8.16 $4.07 $(.62)
Diluted $8.08 $4.03 $(.62)
Weighted-Average Number of Shares Outstanding (Note 5):
Basic 74.1 76.7 76.2
Diluted 74.9 77.5 76.2
Cash Dividends Paid Per Share of Common Stock (Note 14) $1.15 $1.025 $1.00
*Restated to reflect the consolidation of the Epsilon Products Company, LLC (“Epsilon”) polypropylene joint venture, effective January 1, 2003, in connection with the adoption of
FASB Interpretation No. 46, “Consolidation of Variable Interest Entities,” in the first quarter of 2004 (Note 1).
(See Accompanying Notes)
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