 |
statements of consolidated income
Years Ended December 31,
| (In millions except share and per share amounts) |
|
2000 |
|
1999 |
|
1998 |
|
|
| Revenue |
$
|
29,771
|
$ |
27,052 |
$ |
24,788 |
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
Compensation and benefits |
|
16,546 |
|
15,285 |
|
14,346 |
|
|
Other |
|
8,713 |
|
7,862 |
|
7,439 |
|
|
|
|
|
25,259 |
|
23,147 |
|
21,785 |
|
|
| Operating profit |
|
4,512 |
|
3,905 |
|
3,003 |
|
|
| Other income and (expense): |
|
|
|
|
|
|
|
|
Investment income |
|
527
|
|
197 |
|
126 |
|
|
Interest expense |
|
(205)
|
|
(228) |
|
(227) |
|
|
Tax assessment |
|
–
|
|
(1,786) |
|
– |
|
|
|
|
|
322 |
|
(1,817) |
|
(101) |
|
|
| Income before income taxes |
|
4,834 |
|
2,088 |
|
2,902 |
|
| Income taxes |
|
1,900 |
|
1,205 |
|
1,161 |
|
|
| Net income |
$
|
2,934 |
$ |
883 |
$ |
1,741 |
|
|
| Basic earnings per share |
$ |
2.54 |
$ |
0.79 |
$ |
1.59 |
|
|
| Diluted earnings per share |
$ |
2.50 |
$ |
0.77 |
$ |
1.57 |
|
|
| See notes to consolidated financial statements. |
|
|
