| |
(in
thousands, except per share amounts) Year Ended December 31, |
|
1998 |
|
1997 |
|
1996 |
|
|
| |
|
|
| |
INCOME
STATEMENT |
|
|
|
|
|
|
|
|
| |
Revenues |
$ |
2,636,291
|
$ |
1,939,007
|
$ |
1,357,325
|
|
|
| |
|
|
|
| |
Expenses |
|
|
|
|
|
|
|
|
| |
Operating |
|
1,593,728
|
|
1,219,268
|
|
854,478
|
|
|
| |
Marketing,
selling and administrative |
|
359,214
|
|
272,368
|
|
194,629
|
|
|
| |
Depreciation
and amortization |
|
194,614
|
|
143,816
|
|
91,185
|
|
|
| |
|
|
|
| |
|
|
2,147,556
|
|
1,635,452
|
|
1,140,292
|
|
|
| |
|
|
|
| |
Operating
Income |
|
488,735
|
|
303,555
|
|
217,033
|
|
|
| |
|
|
|
| |
Other
Income (Expense) |
|
|
|
|
|
|
|
|
| |
Interest
income |
|
15,912
|
|
4,666
|
|
2,278
|
|
|
| |
Interest
expense, net of capitalized interest |
|
(167,869) |
|
(128,531) |
|
(76,540) |
|
|
| |
Other
income (expense) |
|
(6,008) |
|
2,995
|
|
8,095
|
|
|
| |
|
|
|
| |
|
|
(157,965) |
|
(120,870) |
|
(66,167) |
|
|
| |
|
|
|
| |
Income
Before Extraordinary Item |
|
330,770
|
|
182,685
|
|
150,866
|
|
|
| |
Extraordinary
Item |
|
|
|
(7,558) |
|
|
|
|
| |
|
|
|
| |
Net
Income |
$ |
330,770
|
$ |
175,127
|
$ |
150,866
|
|
|
| |
|
|
|
| |
EARNINGS
PER SHARE |
|
|
|
|
|
|
|
|
| |
Basic
Earnings Per Share |
|
|
|
|
|
|
|
|
| |
Income
before extraordinary item |
$ |
1.90
|
$ |
1.22
|
$ |
1.19
|
|
|
| |
Extraordinary
item |
|
|
|
(0.05) |
|
|
|
|
| |
|
|
|
| |
Net
income |
$ |
1.90
|
$ |
1.17
|
$ |
1.19
|
|
|
| |
|
|
|
| |
Diluted
Earnings Per Share |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Income
before extraordinary item |
$ |
1.83
|
$ |
1.20
|
$ |
1.17
|
|
|
| |
Extraordinary
item |
|
|
|
(0.05) |
|
|
|
|
| |
|
|
|
| |
Net
income |
$ |
1.83
|
$ |
1.15
|
$ |
1.17
|
|
|
| |
|
|
|
| |
The
accompanying notes are an integral part of these financial statements. |
|