| |
| (in thousands,
except per share) |
Years Ended December 31, |
| 2004 |
2003 |
2002 |
 |
| Revenues |
$ 4,524,185 |
$ 3,157,756 |
$ 2,622,154 |
| |
Costs applicable to sales |
2,303,230 |
1,700,262 |
1,616,387 |
| Depreciation, depletion and amortization |
696,522 |
564,481 |
505,598 |
| Exploration, research and development |
192,409 |
115,238 |
88,886 |
| General and administrative |
115,848 |
130,292 |
115,252 |
| Write-down of long-lived assets and goodwill |
91,015 |
35,260 |
3,652 |
| Other |
34,433 |
49,506 |
29,372 |
|
|
|
3,433,457 |
2,595,039 |
2,359,147 |
| Other income (expense) |
|
|
|
| |
Royalty and dividend income |
65,824 |
56,319 |
35,718 |
| Interest income, foreign currency exchange and other
income |
76,948 |
102,182 |
39,885 |
| Interest, net of capitalized interest |
(97,610) |
(88,579) |
(129,565) |
| Gain on extinguishment of NYOL liabilities, net |
— |
220,537 |
— |
| Other income (expense), net |
(36,885) |
72,210 |
7,281 |
|
|
|
8,277 |
362,669 |
(46,681) |
|
|
|
|
|
| Pre-tax income |
1,099,005 |
925,386 |
216,326 |
| |
Income tax expense |
(275,882) |
(206,950) |
(19,900) |
| Minority interest in income of subsidiaries |
(335,299) |
(173,178) |
(97,442) |
| Equity income (loss) of affiliates |
2,641 |
(35,058) |
51,376 |
|
|
|
| Income before cumulative effect
of a change in accounting principle |
490,465 |
510,200 |
150,360 |
| |
Cumulative effect of a change in accounting principle,
net |
(47,138) |
(34,533) |
7,701 |
|
|
| Net income |
$ 443,327 |
$ 475,667 |
$ 158,061 |
| |
Preferred stock dividends |
— |
— |
(3,738) |
|
|
| Net income applicable to common shares |
$ 443,327 |
$ 475,667 |
$ 154,323 |
|
|
|
| Income before cumulative effect of a change
in accounting principle per common share, basic |
$ 1.11 |
$ 1.24 |
$ 0.40 |
| Cumulative effect of a change in accounting
principle per common share, basic |
(0.11) |
(0.08) |
0.02 |
|
|
| Net income per common share, basic
|
$ 1.00 |
$ 1.16 |
$ 0.42 |
|
|
| Basic weighted-average common shares outstanding |
443,463 |
410,600 |
370,940 |
|
|
| Diluted weighted-average common shares outstanding |
446,511 |
413,723 |
372,975 |
|
|
