Sunoco 2010 Annual Report Download - page 75
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Sunoco, Inc. and Subsidiaries
Consolidated Statements of Operations
(Millions of Dollars and Shares, Except Per-Share Amounts)
For the Years Ended December 31
2010 2009* 2008*
Revenues
Sales and other operating revenue (including consumer
excise taxes) ............................................... $37,264 $30,271 $49,393
Interest income ............................................... 5 5 17
Gain on remeasurement of pipeline equity interests (Note 2) ......... 128 — —
Other income, net (Notes 2, 3 and 17) ............................ 92 116 75
37,489 30,392 49,485
Costs and Expenses
Cost of products sold and operating expenses ..................... 33,032 26,537 44,197
Consumer excise taxes ........................................ 2,349 2,387 2,438
Selling, general and administrative expenses ...................... 654 671 798
Depreciation, depletion and amortization .......................... 494 484 461
Payroll, property and other taxes ................................ 116 137 137
Provision for asset write-downs and other matters (Note 2) ........... 109 687 (18)
Interest cost and debt expense .................................. 164 145 111
Interest capitalized ............................................ (15) (39) (39)
36,903 31,009 48,085
Income (loss) from continuing operations before income tax
expense (benefit) ........................................... 586 (617) 1,400
Income tax expense (benefit)(Note 4) ............................ 135 (366) 442
Income (loss) from continuing operations ......................... 451 (251) 958
Income (loss) from discontinued operations, net of income taxes ...... (23) 51 (69)
Net income (loss) ............................................. 428 (200) 889
Less: Net income attributable to noncontrolling interests ............. 194 129 113
Net income (loss) attributable to Sunoco, Inc. shareholders .......... $ 234 $ (329) $ 776
Earnings (loss) attributable to Sunoco, Inc. shareholders per share
of common stock:
Basic:
Income (loss) from continuing operations ...................... $2.14 $(3.25) $7.22
Income (loss) from discontinued operations .................... (.19) .44 (.59)
Net income (loss) ......................................... $1.95 $(2.81) $6.63
Diluted:
Income (loss) from continuing operations ...................... $2.14 $(3.25) $7.22
Income (loss) from discontinued operations .................... (.19) .44 (.59)
Net income (loss) ......................................... $1.95 $(2.81) $6.63
Weighted-average number of shares outstanding (Note 5):
Basic ..................................................... 120.1 116.9 117.0
Diluted .................................................... 120.3 116.9 117.1
Cash dividends paid per share of common stock (Note 15) ........... $.60 $1.20 $1.175
*Reclassified to conform to 2010 presentation (Notes 1 and 2).
(See Accompanying Notes)
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