Financial statements - Notes to the consolidated financial statements
Note 37
b. Condensed consolidated statements of operations under US GAAP
-
The following presents the Company's condensed consolidated statements of operations in accordance with US GAAP:
2005
2004
(as restated.
See Note
37 d.)
Net sales
44,100
43,872
Cost of sales
(34,989)
(34,820)
Gross profit
9,111
9,052
Operating expenses
(8,845)
(8,244)
Operating income
266
808
Net financial expense
(574)
(384)
Income (loss) before income taxes
(308)
424
Income taxes
186
(194)
Income (loss) after income taxes
(122)
230
Share in income of joint ventures and associates
131
151
Minority interests
(16)
(8)
Income (loss) from continuing operations
(7)
373
Income (loss) from discontinued operations before income taxes
18
(299)
Income taxes from discontinued operations
(20)
23
Loss from discontinued operations after income taxes
(2)
(276)
Income (loss) before cumulative effect of changes in accounting principles
(9)
97
Cumulative effect of changes in accounting principles FIN 46(R) net of income tax benefit of EUR 3
(8)
Net income (loss) in accordance with US GAAP
(9)
89
198
