Prior year in review
The Prior Year in Review section provides a summary of the company’s financial performance in 2007 as compared to 2006. For a detailed discussion of 2007 performance, see the company’s 2007 Annual Report.
| ($ and shares in millions except per share amounts) | |||
| For the year ended December 31: | 2007 | 2006 | Yr.-to-Yr. Percent/ Margin Change |
|---|---|---|---|
|
* 4.2 percent adjusted for currency. ** At December 31. NM — Not meaningful |
|||
| Revenue | $98,786 | $91,424 | 8.1%* |
| Gross profit margin | 42.2% | 41.9% | 0.4 pts. |
| Total expense and other income | $27,240 | $24,978 | 9.1% |
| Total expense and other income-to-revenue ratio | 27.6% | 27.3% | 0.3 pts. |
| Income from continuing operations before income taxes | $14,489 | $13,317 | 8.8% |
| Provision for income taxes | 4,071 | 3,901 | 4.4% |
| Income from continuing operations | 10,418 | 9,416 | 10.6% |
| Income/(loss) from discontinued operations | — | 76 | NM |
| Net income | $10,418 | $9,492 | 9.7% |
| Net income margin | 10.5% | 10.4% | 0.2 pts. |
| Earnings per share of common stock: | |||
| Assuming dilution: | |||
| Continuing operations | $7.18 | $6.06 | 18.5% |
| Discontinuing operations | (0.00) | 0.05 | NM |
| Total | $7.18 | $6.11 | 17.5% |
| Weighted-average shares outstanding: | |||
| Assuming dilution | 1,450.6 | 1,553.5 | (6.6)% |
| Assets** | $120,431 | $103,234 | 16.7% |
| Liabilities** | $91,962 | $74,728 | 23.1% |
| Equity** | $28,470 | $28,506 | (0.1)% |
