|
|
 |
|
|
Year Ended |
| (in millions, except per share data) |
Sept. 25
2005 |
,
|
Sept. 26
2004 |
,
|
Sept. 28
2003 |
,
|
| Revenues: |
| Equipment and services |
$ |
3,744 |
|
$ |
3,514 |
|
$ |
2,862 |
|
| Licensing and royalty fees |
|
1,929 |
|
|
1,366 |
|
|
985 |
|
| |
|
|
5,673 |
|
|
4,880 |
|
|
3,847 |
|
| |
| Operating expenses: |
| Cost of equipment and services revenues |
|
1,645 |
|
|
1,484 |
|
|
1,268 |
|
| Research and development |
|
1,011 |
|
|
720 |
|
|
523 |
|
| Selling, general and administrative |
|
631 |
|
|
547 |
|
|
483 |
|
| |
| Total operating expenses |
|
3,287 |
|
|
2,751 |
|
|
2,274 |
|
| |
| Operating income |
|
2,386 |
|
|
2,129 |
|
|
1,573 |
|
| Investment income (expense), net (Note 5) |
|
423 |
|
|
184 |
|
|
(8 |
) |
| |
| Income from continuing operations before income taxes |
|
2,809 |
|
|
2,313 |
|
|
1,565 |
|
| Income tax expense |
|
(666 |
) |
|
(588 |
) |
|
(536 |
) |
| |
| Income from continuing operations |
|
2,143 |
|
|
1,725 |
|
|
1,029 |
|
| |
| Discontinued operations (Note 12): |
| Loss from discontinued operations before income taxes |
|
— |
|
|
(10 |
) |
|
(280 |
) |
| Income tax benefit |
|
— |
|
|
5 |
|
|
78 |
|
| |
| Loss from discontinued operations |
|
— |
|
|
(5 |
) |
|
(202 |
) |
| |
| Net income |
$ |
2,143 |
|
$ |
1,720 |
|
$ |
827 |
|
| |
| Basic earnings per common share from continuing operations |
$ |
1.31 |
|
$ |
1.07 |
|
$ |
0.65 |
|
| Basic loss per common share from discontinued operations |
|
— |
|
|
(0.01 |
) |
|
(0.13 |
) |
| |
| Basic earnings per common share |
$ |
1.31 |
|
$ |
1.06 |
|
$ |
0.52 |
|
| |
| Diluted earnings per common share from continuing operations |
$ |
1.26 |
|
$ |
1.03 |
|
$ |
0.63 |
|
| Diluted loss per common share from discontinued operations |
|
— |
|
|
— |
|
|
(0.12 |
) |
| |
| Diluted earnings per common share |
$ |
1.26 |
|
$ |
1.03 |
|
$ |
0.51 |
|
| |
| Shares used in per share calculations: |
| Basic |
|
1,638 |
|
|
1,616 |
|
|
1,579 |
|
| |
| Diluted |
|
1,694 |
|
|
1,675 |
|
|
1,636 |
|
| |
| Dividends per share announced |
$ |
0.320 |
|
$ |
0.190 |
|
$ |
0.085 |
|
| |
| See accompanying notes. |
|
