PRESENTATION ON

MANAGEMENT ACCOUNTING
TOPIC-CONSUMER
ELECTRONICS
PROFESSORMR.ATUL RAWAT

GROUP MEMBERS
SUSHANT INGLE

PRAJAKTA
SALUM KAZI
SUPRIYA JADHAV

ABHISHEK JAISWAL

31
32
33
34
35

INDEX
SONY

TOSHIBA
PANASONIC
SAMSUNG

LIFES GOOD

ELECTRONIC INDUSTRY
Consumer electronics is that which is intended for
everyday use, most often in entertainment
, communications and office productiviy. Radio
broadcasting in the early 20th century brought the first
major consumer product, the broadcast receiver. Later
products include personal computers, telephones, MP3
players, audio equipment , televisions, calculators
, GPS automotive electronics, digital cameras and players
and recorders using video media such
as DVDs, VCRs or camcorders. Increasingly these
products have become based on digital technologies, and
have largely merged with the computer industry in what
is increasingly referred to as the consumerization of
information technology.

HISTORYThe generation of electricity began in the 19th century and

this led to the development of all manner of
inventions. Gramaphones were an early invention and this
was followed by radio transmitters and receivers and
televisions. The first digital computers were built in the 1940s
with a slow development in technology and total sales. In the
1990s the personal computer became popular. A large part of
the electronics industry is now involved with digital
technology.
The industry now employs large numbers of electronics
engineers and electronics technicians to design, develop, test,
manufacture, install, and repair electrical and electronic
equipment such as communication equipment, medical
monitoring devices, navigational equipment, and computers.

SONY
Sony Corporation commonly referred to as Sony, is a
Japanese multinational conglomerate corporation headquartered in
Knan Minato, Tokyo, Japan. Its diversified business is primarily focused
on the electronics, game, entertainment and financial services sectors. The
company is one of the leading manufacturers of electronic products for the
consumer and professional markets . Sony is ranked 87th on the 2012 list
of Fortune Global 500.
Sony Corporation is the electronics business unit and the parent
company of the Sony Group, which is engaged in business through its four
operating segments Electronics (including video games, network services
and medical business), Motion pictures, Music and Financial
Services. These make Sony one of the most comprehensive entertainment
companies in the world. Sony's principal business operations include Sony
Corporation (Sony Electronics in the U.S.), Sony Pictures
Entertainment, Sony Computer Entertainment, Sony Music
Entertainment,Sony Mobile Communications (formerly Sony Ericsson),
and Sony Financial. Sony is among the Worldwide Top 20 Semiconductor
Sales Leadersand third-largest television manufacturer in the world,
after Samsung Electronics and LG Electronics.

HISTORY
Originally called Tokyo Tsushin Kogyo (Tokyo
Telecommunications Engineering Company),
Sonys roots go back over half a century to 1946
when it was founded by Masaru Ibuka and Akio
Morita. The first Sony branded product was the TR-

55 transistor radio which went on sale in 1955.

PARTICULARS

2010

2011

2012

2013

Net sales

6,293,005

6,304,401 5,526,611

5,691,216

TOTAL REVENUES

7,213,998

7,181,273

6,772,819

Cost Of Goods Sold

4,878,217

4,826,612 4,384,332

4,482,304

GROSS PROFIT

1,664,231

1,678,873

1,434,544

Selling General & Admin

Expenses, Total

1,480,953

1,468,636 1,354,019

1,413,822

OTHER OPERATING EXPENSES,

TOTAL

1,480,953

1,468,636

1,354,019

1,413,822

OPERATING INCOME

183,278

210,237

-5,289

20,722

Interest Expense

-22,505

-23,909

-23,432

-26,657

Interest And Investment Income

13,191

11,783

15,101

21,987

Other Non-Operating Expenses,

Total

-32,788

24,724

-126,344

-20,754

8,323

1,365.0

442

-3,446

Other Non-Operating Income

6,469,112

1,348,730

PARTICULARS

2010

2011

2012

2013

Merger & Restructuring

Charges

-97,318

-39,567

-43,170

-46,925

Gain (Loss) On Sale Of

Investments

28,999

36,976

99,398

156,217

Gain (Loss) On Sale Of Assets

-45,945

-15,231

5,751

113,059

Other Unusual Items, Total

--

--

-5,201

28,032

EBT, INCLUDING UNUSUAL

ITEMS

26,912

205,013

-83,186

245,681

Income Tax Expense

13,958

425,339

315,239

141,505

Minority Interest In Earnings

-53,756

-39,259

-58,235

-61,142

Earnings From Continuing

Operations

12,954

-220,326 -398,425

104,176

NET INCOME

-40,802

-259,585 -456,660

43,034

RATIO ANALYSIS OF YEAR 2010

1. GROSS PROFIT RATIO=GROSS PROFIT X 100/ NET SALES
GROSS PROFIT= 1664231 X 100 / 7213998
=23.44 MILLION YEN (RS 14.76 MILLION )
2. NET PROFIT RATIO = NPAT X 100 / NET SALES
NET PROFIT RATIO= 40802 X 100 / 7213998
0.56 MILLION YEN (RS 0.36 MILLION)
)
3.OPERATING EXPENSES RATIO=OPERATING EXPENSES X 100 / NET SALES
OPERATING EXPENSES RATIO= 1480953 X 100 / 7213998
=20.52MILLION YEN ( RS 13.13 MILLION)

4.OPERATING RATIO= OPERATING EXPENSES+COGS X 100 / NET SALES

OPERATING RATIO =14800953 + 4878217 X 100 / 7213998
=272.7 MILLION YEN (RS 174,5 MILLION)

RATIO ANALYSIS FOR YEAR 2011

1. GROSS PROFIT RATIO= 1678873 X 100 / 7181273
=23.3 MILLION YEN (RS 15 MILLION)
2. NET PROFIT RATIO = 259585 X 100 / 7181273
=4.11 MILLION YEN ( RS 2.6 MILLION)
3. OPERATING EXPENSES RATIO= 1468636 X 100 /
7181273
= 23.3 MILLION YEN ( RS 14.9 MILLION)
4. OPERATING RATIO = 4826612 + 1468636 X 100 /
7181273
=99.8 MILLION YEN (RS 6309 MILLION)

RATIO ANALYSIS OF 2013

1. GROSS PROFIT RATIO= 1434544 X 100 / 6772819
21.1 MILION YEN ( RS 13 MILLION)
2. NET PROFIT RATIO = 43034 X 100 / 6772819
0.63 MILLION YEN (RS 0.4 MILLION)
3.OPERATING EXPENSES RATIO = 1413122 X 100 / 6772819 = 20.86
MILLION YEN ( RS 13.65 MILLOIN)
4.OPERATING EXPENSES = 1413122 + 4482304 X 100 / 6772819
= 27 MILLION YEN (RS 17.5 MILLOIN)

TOSHIBA
Toshiba Corporation is a Japanese multinational
engineering and electronics conglomerate corporation
headquartered in Tokyo, Japan. Its products and services
include information technology and communications
equipment and systems, electronic components and
materials, power systems, industrial and social infrastructure
systems, household appliances, medical equipment, office
equipment, lighting and logistics.
HISTORYToshiba was founded in 1939 as Tokyo Shibaura Electric
K.K. through the merger of Shibaura Seisaku-sho (founded in
1875) and Tokyo Denki (founded in 1890). The company
name was officially changed to Toshiba Corporation in 1978.
Toshiba has made numerous corporate acquisitions during its
history, including of Semp in 1977, of Westinghouse Electric
Company in 2006, of Landis+Gyr in 2011, and of IBM's pointof-sale business in 2012.

Assets
Current Assets
Cash And Cash
Equivalents
Short Term
Investments

31 mar 2013

31 mar 2012

31 mar 2011

8,775,000

10,870,000

12,240,000

7,407,000

8,274,000

7,796,000

10,292,000

12,258,000

13,174,000

Inventory

7,540,000

8,592,000

8,495,000

Other Current
Assets

4,707,000

5,635,000

4,675,000

Total Current Assets

38,721,000

45,628,000

46,381,000

Long Term Investments

77,697,000

76,791,000

71,099,000

Property Plant and Equipment

9,148,000

11,313,000

11,159,000

Goodwill

6,830,000

7,008,000

5,659,000

Other Assets

6,816,000

8,118,000

7,969,000

Intangible Assets

5,602,000

6,121,000

4,719,000

150,850,000

161,561,000

Net Receivables

Total Assets

155,781,000

Liabilities
Current Liabilities

31 mar 2013

31 mar 2012

31 mar 2011

Accounts Payable

32,171,000

35,211,000

33,158,000

Short/Current Long Term Debt

8,667,000

14,206,000

11,542,000

Other Current Liabilities

4,980,000

5,628,000

5,194,000

45,820,000

55,046,000

49,895,000

Long Term Debt

9,965,000

9,262,000

9,800,000

Other Liabilities

62,591,000

63,294,000

56,727,000

Deferred Long Term Liability

Charges

3,971,000

3,457,000

3,695,000

Minority Interest

5,133,000

5,604,000

4,689,000

Negative Goodwill

Total Liabilities

127,481,000

136,664,000

Total Current Liabilities

124,805,000

Assets

2009/3

2010/3

2011/3

2012/3

2013/3

2,720,631

2,761,606

2,799,668

3,009,513

3,163,707

534,853

622,854

660,380

701,225

706,188

1,089,579

978,726

900,205

851,365

884,680

1,108,162

1,087,987

1,019,066

1,190,634

1,352,157

5,453,225

5,451,173

5,379,319

5,752,737

6,106,732

Current assets

Long-term
receivables

Property, plant
and equipment

Other assets

Total Assets

Liabilities and Equity

2009/3

2010/3

2011/3

2012/3

2013/3

1,033,88
4

257,364

311,762

326,141

433,128

Other current liabilities 2,033,8

89

2,231,081

2,186,547

2,343,421

2,310,596

Short-term debt

Current Liabilities

3,067,77
3

2,488,445

2,498,309

2,669,562

2,743,724

Long-term debt

776,768

960,938

769,544

909,620

1,038,448

Other long-term
liabilities

849,403

874,168

931,850

943,344

908,038

1,626,17
1

1,835,106

1,701,394

1,852,964

1,946,486

Equity attributable to
shareholders of
Toshiba Corporation

447,346

797,455

868,119

863,481

1,034,456

Equity attributable to
noncontrolling
interests

311,935

330,167

311,497

366,730

382,066

5,453,22
5

5,451,173

5,379,319

5,752,737

6,106,732

Long-Term Liabilities

Total Liabilities and

Equity

Balance sheet ratios

Fiscal Year
Ends
Net
Gearing
Quick
Ratio
Current
Ratio

31/03/0 31/03/1
31/03/1 31/03/1
9
0 31/03/11
2
3
327.90 119.24
94.74 118.30 122.04

0.64

0.79

0.78

0.80

0.79

0.89

1.11

1.12

1.13

1.15

Fiscal Year
Ends
Turnover
Expenses
EBITDA

31/03/09
6,654,567

31/03/10
6,291,208

31/03/11
6,398,505

31/03/12
6,100,262

31/03/13
5,800,281

6,256,795. 6,202,956. 5,954,683.

00
00
00
-9,436 340,755.00 446,374.00 381,773.00

5,644,728

6,933,770

358,742

-359,200

41,757.00 186,770.00 132,127.00

140,990

Operating
Profit
(reported)

-279,252

34,413.00 195,549.00 145,579.00

155,5665

Operating
Profit
(adjusted)

-362,995

56,207.00 195,571.00 142,134.00

159,183

EBIT

Investment
Income

9,596

22,385.00

18,478.00

17,035.00

21,560

Exceptional
Items

83,743

-21,794.00

-22.00

3,445.00

-3,630

-279,252

34,413

195,549

145,579

155,566

Pre-tax
Profit

54,323.0
0
-333,575

33,534.0
0
879.00

40,720.0
0
154,829.0
0

64,223.0
0
81,356.00

59,827.0
0
95,726.00

Minority
Interests

-3,795

14,450.00

8,801.00

10,007.00

18,193.00

Profit For
Financial Year

-343,5

19,743.00

137,845.0
0

70,054.00

77,533.00

Ordinary
Dividends

35,592

0.00

8,470.00

29,645.00

33,879.00

-379,151

19,743.00

129,375.0
0

40,409.00

43,654.00

500

0.00

200.00

0.00

360.00

-12780

202.20

3317.50

1581.74

1916.72

-10192

-342

3317.00

1662.00

1831.00

-426

-151

-185.00

-30.00

0.00

Tax
Profit After Tax

Retained Profit
Per Share Data

Dividend per
Share c
Normalized
EPS c
Reported EPS c
Norm
Discontinued
EPS c

Fiscal Year Ends

Net Tangible Asset Value
Per Share

31/03/1
31/03/09 31/03/10
1 31/03/12 31/03/13
- 4219.73 7293.2 3303.55
2718
5639.41
0
-5.39

0.98

2.63

2.40

-5.46

0.89

3.06

2.33

2.74

-35.44

0.54

9.11

4.13

4.64

-12.38

3.75

8.03

6.90

7.15

327.90

119.24

94.74

118.30

122.04

404.75

152.77

124.56

143.11

142.26

-25.56

16.59

5.32

-9.77

2.58

5.47

5.87

0.64

0.79

0.78

0.80

0.79

0.89

1.11

1.12

1.13

1.15

Operating Margin
Profit Margin
ROE
ROCE

Net Gearing
Gross Gearing

Dividend Cover
Interest Cover
Quick Ratio
Current Ratio

PANASONIC
Panasonic Corporation, formerly known as Matsushita
Electric Industrial Co., Ltd. , is a
Japanese multinational electronics corporation
headquartered in Kadoma, Osaka, Japan.
The company was founded in 1918, and has grown to become
one of the largest Japanese electronics producers
alongside Sony, Toshiba, Sharp Corporation, and Canon. In
addition to electronics, it offers non-electronic products and
services such as home renovation services.Panasonic is
the world's fourth-largest television manufacturer by 2012
market share.
Panasonic has a primary listing on the Tokyo StocK
Exchange and is a constituent of
the Nikkei225 and TOPIX indices. It has a secondary listing
on the Nagoya Stock Exchange.

HISTORY
Panasonic was founded in 1918 by Konosuke Matsushita as a
vendor of duplex lamp sockets. In 1927, it began producing
bicycle lamps, the first product which it marketed under the
brand name National. During World War II the company
operated factories in Japan and other parts of Asia which
produced electrical components and appliances such as light
fixtures, motors, and electric irons.
After World War II, Panasonic regrouped and began to supply
the post war boom in Japan with radios and appliances, as
well as bicycles. Matsushita's brother-in-law, Toshio Iue,
founded Sanyo as a subcontractor for components after World
War II. Sanyo grew to become a competitor to Panasonic, but
was later acquired by Panasonic in December 2009.

Panasonic Appliances
India Company
Standalone Balance
Sheet

Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Reserves
Revaluation Reserves
Networth
Secured Loans
Unsecured Loans
Total Debt
Total Liabilities

Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)

------------------- in Rs. Cr. ------------------Mar

'12

Mar '11

Mar '10

Mar '09

Mar '08

12
mths

12 mths

12 mths

12 mths

12 mths

8.57
8.57
0.00
0.00
11.00
0.00
19.57
17.30
1.00
18.30
37.87

8.57
8.57
0.00
0.00
10.20
0.00
18.77
5.56
1.00
6.56
25.33

8.57
8.57
0.00
0.00
9.27
0.00
17.84
1.69
0.11
1.80
19.64

8.57
8.57
0.00
0.00
9.05
0.00
17.62
2.34
0.30
2.64
20.26

Mar '11

Mar '10

Mar '09

Mar '08

12
mths

12 mths

12 mths

12 mths

12 mths

58.55
25.92
32.63
0.13
0.00
15.85
29.65
0.17
45.67
7.13
0.00
52.80
0.00
45.18
1.38
46.56
6.24
0.00
39.00

51.02
22.82
28.20
0.21
0.00
18.62
21.43
0.85
40.90
9.97
0.00
50.87
0.00
34.02
7.39
41.41
9.46
0.00
37.87

38.08
20.49
17.59
0.95
0.00
14.48
15.48
0.39
30.35
8.32
0.00
38.67
0.00
25.49
6.40
31.89
6.78
0.00
25.32

29.84
18.89
10.95
2.49
0.00
13.33
7.11
0.21
20.65
7.08
1.85
29.58
0.00
17.25
6.14
23.39
6.19
0.00
19.63

28.66
17.34
11.32
0.00
0.19
11.03
6.52
0.25
17.80
5.55
5.11
28.46
0.00
13.99
5.71
19.70
8.76
0.00
20.27

2.26
7.93

0.66
22.83

0.28
21.91

0.64
20.81

0.31
20.57

8.57
8.57
0.00
0.00
-1.77
0.00
6.80
31.56
0.67
32.23
39.03
Mar
'12

Panasonic Appliances
India Company

Previous Years

Standalone Profit & Loss account

------------------- in Rs. Cr. ------------------Mar

'12

Mar '11

Mar '10

Mar '09

Mar '08

12
mths

12 mths

12 mths

12 mths

12 mths

Sales Turnover
Excise Duty
Net Sales
Other Income
Stock Adjustments
Total Income
Expenditure

198.78
19.16
179.62
0.42
-3.20
176.84

201.77
15.43
186.34
0.15
3.27
189.76

144.72
9.67
135.05
-0.17
-1.29
133.59

109.91
10.73
99.18
0.09
-0.08
99.19

89.56
10.96
78.60
0.35
2.42
81.37

Raw Materials
Power & Fuel Cost
Employee Cost
Other Manufacturing Expenses
Selling and Admin Expenses
Miscellaneous Expenses
Preoperative Exp Capitalised
Total Expenses

115.62
5.17
18.37
0.58
0.00
42.99
0.00
182.73
Mar
'12

115.85
3.90
15.47
2.27
42.84
1.66
0.00
181.99

72.82
2.79
11.97
1.97
36.07
1.39
0.00
127.01

56.30
1.81
8.93
1.17
25.02
1.16
0.00
94.39

47.26
1.48
7.14
0.72
19.09
0.88
0.00
76.57

Mar '11

Mar '10

Mar '09

Mar '08

12
mths

12 mths

12 mths

12 mths

12 mths

-6.31

7.62

6.75

4.71

4.45

-5.89
3.68
-9.57
3.18
0.00
-12.75
-0.03
-12.78
0.00
-12.77

7.77
2.40
5.37
2.75
0.00
2.62
0.16
2.78
0.83
1.79

6.58
1.12
5.46
2.27
0.00
3.19
0.00
3.19
1.06
1.93

4.80
0.63
4.17
1.85
0.00
2.32
0.50
2.82
1.17
1.42

4.80
0.56
4.24
1.50
0.00
2.74
0.07
2.81
1.08
1.45

67.11
0.00
0.00
0.00

66.14
0.00
0.86
0.14

54.18
0.00
0.86
0.14

38.09
0.00
1.03
0.17

29.31
0.00
0.86
0.15

85.70
-14.90

85.70
2.09

85.70
2.26

85.70
1.65

85.70
1.69

0.00
7.93

10.00
22.83

10.00
21.91

12.00
20.81

10.00
20.57

Income

Operating Profit
PBDIT
Interest
PBDT
Depreciation
Other Written Off
Profit Before Tax
Extra-ordinary items
PBT (Post Extra-ord Items)
Tax
Reported Net Profit
Total Value Addition
Preference Dividend
Equity Dividend
Corporate Dividend Tax
Per share data (annualised)
Shares in issue (lakhs)
Earning Per Share (Rs)
Equity Dividend (%)
Book Value (Rs)

Fixed Assets Turnover Ratio

Total Assets Turnover Ratio
Asset Turnover Ratio
Average Raw Material Holding
Average Finished Goods Held
Number of Days In Working Capital
Profit & Loss Account Ratios
Material Cost Composition
Imported Composition of Raw
Materials Consumed
Selling Distribution Cost
Composition
Expenses as Composition of Total
Sales
Cash Flow Indicator Ratios
Dividend Payout Ratio Net Profit
Dividend Payout Ratio Cash Profit
Earning Retention Ratio
Cash Earning Retention Ratio
AdjustedCash Flow Times

Earnings Per Share

Book Value

3.16
4.82
4.67

3.70
5.00
3.70

3.60
5.46
6.01

3.39
5.21
4.97

2.79
3.97
4.06

--12.53

29.44
23.98
18.27

39.00
25.08
18.09

28.07
41.51
22.50

33.57
37.25
40.10

64.36

62.17

53.91

56.76

60.13

28.22

30.58

32.30

22.78

11.67

--

19.23

22.58

20.95

20.06

10.10

7.05

1.36

1.44

1.40

------

55.57
21.91
33.13
76.53
4.31

51.67
23.79
53.23
77.31
1.49

84.92
36.85
-17.62
58.09
0.63

69.19
33.95
35.88
67.32
0.86

Mar
'12

Mar '11

Mar '10

Mar '09

Mar '08

-14.90
7.93

2.09
22.83

2.26
21.91

1.65
20.81

1.69
20.57

SAMSUNG
Samsung Group is a South
Korean multinational conglomerate company
headquartered in Samsung Town, Seoul. It comprises
numerous subsidiaries and affiliated businesses, most of
them united under the Samsung brand, and is the largest
South Korean business conglomerate.
Samsung was founded by Lee Byung-chulin 1938 as
a trading company. Over the next three decades the
group diversified into areas including food processing,
textiles, insurance, securities and retail. Samsung
entered the electronics industry in the late 1960s and the
construction and shipbuilding industries in the mid1970s; these areas would drive its subsequent growth.

HISTORY
In 1938, Lee Byung-chull (19101987) of a large
landowning family in the Uiryeong county came to the
nearby) Daegu city and founded Samsung Sangho , a small
trading company with forty employees located in Su-dong
(now Ingyo-dong). It dealt in groceries produced in and
around the city and produced its own noodles. The
company prospered and Lee moved its head office to Seoul
in 1947.
In the late 1960s, Samsung Group entered into the
electronics industry. It formed several electronics-related
divisions, such as Samsung Electronics Devices Co.,
Samsung Electro-Mechanics Co., Samsung Corning Co.,
and Samsung Semiconductor & Telecommunications Co.,
and made the facility in Suwon. Its first product was a
black-and-white television set.

PROFIT AND LOSS A/C OF SAMSUNG

Dec 31
2009
Restated
USD

Dec 31
2010
Reclassified
USD

Dec 31
2011
Restated
USD

Dec 31
2012
USD

126,999.1

144,053.6

153,715.6

187,348.1

126,999.1

144,053.6

153,715.6

187,348.1

88,124.6

95,644.4

104,474.4

117,988.9

38,874.6

48,409.2

49,241.3

69,359.2

Selling General & Admin Expenses, Total

21,764.1

24,448.1

24,769.9

30,811.3

R&D Expenses

6,881.5

8,477.0

9,274.2

10,744.0

Depreciation & Amortization, Total

--

--

622.9

741.5

Other Operating Expenses

58.0

-248.7

--

--

OTHER OPERATING EXPENSES, TOTAL

28,703.6

32,676.4

34,667.0

42,296.8

OPERATING INCOME

10,171.0

15,732.8

14,574.2

27,062.4

Interest Expense

-498.7

-541.3

-600.1

-558.0

Interest And Investment Income

362.5

550.5

689.5

886.5

-136.2

9.2

89.4

328.5

Income (Loss) On Equity Investments

1,596.1

2,112.0

1,303.5

919.1

Currency Exchange Gains (Loss)

-173.8

-167.4

-619.3

-134.1

Other Non-Operating Income (Expenses)

-80.3

-30.1

-269.3

236.1

11,376.9

17,656.5

15,078.5

28,412.0

Currency in
Millions of US Dollars
Revenues
TOTAL REVENUES
Cost Of Goods Sold
GROSS PROFIT

NET INTEREST EXPENSE

EBT, EXCLUDING UNUSUAL ITEMS

As of:

4 Year
Trend

Impairment Of Goodwill

--

-143.4

-170.6

-190.7

Gain (Loss) On Sale Of Investments

41.9

384.4

208.2

24.6

Gain (Loss) On Sale Of Assets

-61.1

173.5

994.2

-165.2

Other Unusual Items, Total

--

-64.4

-94.2

-211.8

11,357.7

18,006.6

16,016.0

27,868.8

Income Tax Expense

2,264.8

2,964.5

3,198.1

5,654.6

Minority Interest In Earnings

-176.0

-323.7

-350.7

-614.8

Earnings From Continuing Operations

9,092.9

15,042.1

12,817.9

22,214.3

8,916.9

14,718.4

12,467.3

21,599.5

NET INCOME TO COMMON INCLUDING

EXTRA ITEMS

7,720.9

12,765.4

10,819.0

18,753.1

NET INCOME TO COMMON EXCLUDING

EXTRA ITEMS

7,720.9

12,765.4

10,819.0

18,753.1

EBT, INCLUDING UNUSUAL ITEMS

NET INCOME