2006

2005

2004

Sales

$

3,775,603

$

3,032,727

$

2,531,390

Cost of sales

2,667,452

2,051,491

1,807,339

Gross income

1,108,151

981,236

724,051

Selling, general and administration

111,505

83,334

61,467

Litigation settlement

—

(9,904

)

—

Gain on sale of assets held for sale (Note 9)

—

(1,863

)

(4,925

)

Operating income

996,646

909,669

667,509

Other expenses (income)

Interest on long-term debt

27,356

35,631

54,405

Interest income

(32,518

)

(16,626

)

(3,481

)

Foreign exchange (gain)/loss

7,454

(9,448

)

(2,749

)

Other (income) expenses

(637

)

144

477

Loss on early extinguishment of debt

—

16,423

—

Income before income taxes and cumulative effect of accounting change

994,991

883,545

618,857

Income taxes (Note 7)

351,877

297,729

178,165

Income before cumulative effect of accounting change

643,114

585,816

440,692

Cumulative effect of accounting change, net of taxes (Note 5)

—

—

14,250

NET INCOME

$

643,114

$

585,816

$

454,942

EARNINGS PER COMMON SHARE (Note 19)

Income before cumulative effect of accounting change

$

13.57

$

12.07

$

9.12

Cumulative effect of accounting change

—

—

0.30

Earnings per Common Share—Basic

$

13.57

$

12.07

$

9.42

Income before cumulative effect of accounting change

$

13.43

$

11.96

$

8.42

Cumulative effect of accounting change

—

—

0.27

Earnings per Common Share—Diluted

$

13.43

$

11.96

$

8.69

Pro forma amounts assuming the change in accounting had been applied retroactively (Note 5)

Net income available to common shareholders

$

440,692

Earnings per Common Share—Basic

$

9.12

Earnings per Common Share—Diluted

$

8.42