Prior year in review
| ($ and shares in millions except per share amounts) | |||
| For the year ended December 31: | 2006 | 2005 | Yr.-To-Yr. Percent/ Margin Change |
|---|---|---|---|
|
* Flat adjusted for currency. ** Reflects implementation of FASB Interpretation No. 47, “Accounting for Conditional Asset Retirement Obligations.” See note B, “Accounting Changes,” for additional information. + At December 31. NM—Not meaningful |
|||
| Revenue | $ 91,424 | $ 91,134 | 0.3%* |
| Gross profit margin | 41.9% | 40.1% | 1.8 pts. |
| Total expense and other income | $ 24,978 | $ 24,306 | 2.8% |
| Total expense and other income-to-revenue ratio | 27.3% | 26.7% | 0.7 pts. |
| Income from continuing operations before income taxes | $ 13,317 | $ 12,226 | 8.9% |
| Provision for income taxes | $ 3,901 | $ 4,232 | (7.8)% |
| Income from continuing operations | $ 9,416 | $ 7,994 | 17.8% |
| Income/(loss) from discontinued operations | $ 76 | $ (24) | NM |
| Income before cumulative effect of change in accounting principle | $ 9,492 | $ 7,970 | 19.1% |
| Cumulative effect of change in accounting principle, net of tax** | $ — | $ (36) | NM |
| Net income | $ 9,492 | $ 7,934 | 19.6% |
| Net income margin | 10.4% | 8.7% | 1.7 pts. |
| Earnings per share of common stock: | |||
| Assuming dilution: | |||
| Continuing operations | $ 6.06 | $ 4.91 | 23.4% |
| Discontinued operations | 0.05 | (0.01) | NM |
| Cumulative effect of change in accounting principle** | — | (0.02) | NM |
| Total | $ 6.11 | $ 4.87 | 25.5% |
| Weighted-average shares outstanding: | |||
| Assuming dilution | 1,553.5 | 1,627.6 | (4.6)% |
| Assets + | $ 103,234 | $ 105,748 | (2.4)% |
| Liabilities + | $ 74,728 | $ 72,650 | 2.9% |
| Equity + | $ 28,506 | $ 33,098 | (13.9)% |
