| Consolidated Statements of Income |
| Years Ended September 30 |
| Thousands of dollars, except per-share amounts |
| |
2005 |
2004 |
2003 |
 |
| Operations |
|
| Revenues |
$ |
5,414,681 |
|
$ |
4,934,745 |
|
$ |
4,463,509 |
|
| |
|
| Cost of products sold |
|
2,662,029 |
|
|
2,500,362 |
|
|
2,296,637 |
|
| Selling and administrative expense |
|
1,449,856 |
|
|
1,311,467 |
|
|
1,181,403 |
|
| Research and development expense |
|
271,626 |
|
|
235,649 |
|
|
224,237 |
|
| Litigation settlement |
|
— |
|
|
100,000 |
|
|
— |
|
|
| |
|
| Total Operating Costs and Expenses |
|
4,383,511 |
|
|
4,147,478 |
|
|
3,702,277 |
|
|
| |
|
| Operating Income |
|
1,031,170 |
|
|
787,267 |
|
|
761,232 |
|
| Interest expense |
|
(55,673 |
) |
|
(44,832 |
) |
|
(43,477 |
) |
| Interest income |
|
36,421 |
|
|
15,225 |
|
|
6,928 |
|
| Other expense, net |
|
(7,064 |
) |
|
(4,792 |
) |
|
(2,725 |
) |
|
| |
|
| Income From Continuing Operations |
|
| Before Income Taxes |
|
1,004,854 |
|
|
752,868 |
|
|
721,958 |
|
| |
|
| Income tax provision |
|
312,571 |
|
|
170,364 |
|
|
167,028 |
|
|
| |
|
| Income from Continuing Operations |
|
692,283 |
|
|
582,504 |
|
|
554,930 |
|
|
| |
|
| Income (loss) from Discontinued Operations |
|
$Net of income tax benefit of
$$14,439, $7,961 and $4,378 |
|
29,980 |
|
|
(115,102 |
) |
|
(7,874 |
) |
|
| |
|
| Net Income |
$ |
722,263 |
|
$ |
467,402 |
|
$ |
547,056 |
|
|
| |
|
| Basic Earnings Per Share |
|
| |
|
| Income from Continuing Operations |
$ |
2.75 |
|
$ |
2.30 |
|
$ |
2.17 |
|
| Income (loss) from Discontinued Operations |
$ |
0.12 |
|
$ |
(0.46 |
) |
$ |
(0.03 |
) |
|
| Basic Earnings Per Share(A) |
$ |
2.87 |
|
$ |
1.85 |
|
$ |
2.14 |
|
|
| |
|
| Diluted Earnings Per Share |
|
| Income from Continuing Operations |
$ |
2.66 |
|
$ |
2.21 |
|
$ |
2.10 |
|
| Income (loss) from Discontinued Operations |
$ |
0.11 |
|
$ |
(0.44 |
) |
$ |
(0.03 |
) |
|
| Diluted Earnings Per Share |
$ |
2.77 |
|
$ |
1.77 |
|
$ |
2.07 |
|
|
(A) Total per share amounts may not add due to rounding.
See notes to consolidated financial statements
|
