Sunoco 2007 Annual Report Download - page 43

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Consolidated Statements of Income Sunoco, Inc. and Subsidiaries
(Millions of Dollars and Shares, Except Per-Share Amounts)
For the Years Ended December 31 2007 2006 2005
Revenues
Sales and other operating revenue (including consumer excise taxes) $44,470 $38,636 $33,754
Interest income 25 34 23
Gain related to issuance of Sunoco Logistics Partners L.P. limited partnership units
(Notes 1 and 15) 151 ——
Other income (loss), net (Notes 2, 3 and 4) 82 45 (13)
44,728 38,715 33,764
Costs and Expenses
Cost of products sold and operating expenses 38,971 32,947 28,028
Consumer excise taxes 2,627 2,634 2,588
Selling, general and administrative expenses 952 881 946
Depreciation, depletion and amortization 480 459 429
Payroll, property and other taxes 135 125 124
Provision for asset write-downs and other matters 53 ——
Interest cost and debt expense 127 105 94
Interest capitalized (26) (16) (25)
43,319 37,135 32,184
Income before income tax expense 1,409 1,580 1,580
Income tax expense (Note 4) 518 601 606
Net Income $ 891 $ 979 $ 974
Earnings Per Share of Common Stock (Note 16):
Basic $7.44 $7.63 $7.13
Diluted $7.43 $7.59 $7.08
Weighted-Average Number of Shares Outstanding (Notes 5 and 16):
Basic 119.7 128.3 136.6
Diluted 120.0 129.0 137.5
Cash Dividends Paid Per Share of Common Stock (Note 16) $1.075 $.95 $.75
(See Accompanying Notes)
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