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[IPSCO Product At-a-Glance]
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[Letter to our Shareholders]
[Letter from our Chairman]
[Governance at IPSCO]
[Our Responsibilities]
[Financial and Operating Review]
[Shareholder and Corporate Information]
[Shaping Their Future]
[Form 10-K]
[Printed Version]
Form 10K - Note 23 page 4/5
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IPSCO Inc. Consolidated Statement of Income
Year ended December 31
(thousands of U.S. dollars except per share data)

 

 

2004

 

Sales

 

$

2,452,675

 

Cost of sales

 

 

 

Manufacturing and raw material

 

1,660,009

 

Amortization of capital assets

 

77,161

 

 

 

1,737,170

 

Gross income

 

715,505

 

Selling, research and administration

 

61,467

 

Operating income

 

654,038

 

Other expenses (income)

 

 

 

Interest on long-term debt

 

45,336

 

Other interest income, net

 

(3,469

)

Foreign exchange gain

 

(2,749

)

Gain on sale of assets held for sale

 

(4,925

)

Income before income taxes

 

619,845

 

Income taxes

 

188,953

 

NET INCOME

 

$

430,892

 

EARNINGS PER COMMON SHARE

 

 

 

Basic

 

$

8.92

 

Diluted

 

$

8.24

 

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This is an interactive electronic version of IPSCO's 2006 Annual Report, and it is intended to be complete and accurate. The contents of this version are qualified in their entirety by reference to the printed version. A reproduction of the printed version is available in PDF format on this Web site.