TENNECO INC.
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
| Year
Ended December 31, |
|
2008 |
|
|
2007 |
|
|
2006 |
|
| (Millions
Except Share and Per Share Amounts) |
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
| Net sales and
operating revenues |
|
$ |
5,916 |
|
|
$ |
6,184 |
|
|
$ |
4,682 |
|
| Costs and
expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of sales (exclusive
of depreciation and amortization shown below) |
|
|
5,063 |
|
|
|
5,210 |
|
|
|
3,836 |
|
| Goodwill impairment
charge |
|
|
114 |
|
|
|
— |
|
|
|
— |
|
| Engineering,
research, and development |
|
|
127 |
|
|
|
114 |
|
|
|
88 |
|
| Selling, general,
and administrative |
|
|
392 |
|
|
|
399 |
|
|
|
373 |
|
| Depreciation and
amortization of intangibles |
|
|
222 |
|
|
|
205 |
|
|
|
184 |
|
| |
|
|
5,918 |
|
|
|
5,928 |
|
|
|
4,481 |
|
| Other income
(expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss on sale of
receivables |
|
|
(10 |
) |
|
|
(10 |
) |
|
|
(9 |
) |
| Other income |
|
|
9 |
|
|
|
6 |
|
|
|
4 |
|
| |
|
|
(1 |
) |
|
|
(4 |
) |
|
|
(5 |
) |
| Income (loss)
before interest expense, income taxes, and minority interest |
|
|
(3 |
) |
|
|
252 |
|
|
|
196 |
|
| Interest expense
(net of interest capitalized of $6 million, $6 million and $6 million,
respectively) |
|
|
113 |
|
|
|
164 |
|
|
|
136 |
|
| Income tax expense |
|
|
289 |
|
|
|
83 |
|
|
|
5 |
|
| Minority interest |
|
|
10 |
|
|
|
10 |
|
|
|
6 |
|
| Net income (loss) |
|
$ |
(415 |
) |
|
$ |
(5 |
) |
|
$ |
49 |
|
| Earnings (loss)
per share |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average
shares of common stock outstanding — |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
46,406,095 |
|
|
|
45,809,730 |
|
|
|
44,625,220 |
|
| Diluted |
|
|
46,406,095 |
|
|
|
45,809,730 |
|
|
|
46,755,573 |
|
| Basic earnings
(loss) per share of common stock |
|
$ |
(8.95 |
) |
|
$ |
(0.11 |
) |
|
$ |
1.11 |
|
| Diluted earnings
(loss) per share of common stock |
|
$ |
(8.95 |
) |
|
$ |
(0.11 |
) |
|
$ |
1.05 |
|
The accompanying notes to consolidated financial
statements are an integral
part of these statements of income (loss).
|
