ABB Asea Brown Boveri Group
Consolidated Income Statement
Year ended December 31
(US$ in millions)
| | 1995 | 1994 |
|
| Revenues | 33,738 | 29,718 |
| Material expenses | -14,604 | -12,110 |
| Personnel expenses | -10,246 | -9,006 |
| Other expenses | -5,410 | -4,707 |
| Changes in work in progress and finished goods | 572 | -399 |
| Depreciation of fixed assets | -1,021 | -893 |
| Unusual items | 246 | 16 |
| |
| Operating Earnings after Depreciation | 3,275 | 2,619 |
|
| Earnings from equity accounted companies | 12 | 11 |
| Dividend income | 14 | 10 |
| Interest income | 509 | 401 |
| Interest on advances | -987 | -960 |
| Interest expense | -694 | -618 |
| Exchange differences | -19 | -16 |
| |
| Income before Taxes | 2,110 | 1,447 |
|
| Taxes | -749 | -652 |
| |
| Net Income before Minority Interest | 1,361 | 795 |
|
| Minority Interest | -46 | -35 |
| |
| Net Income | 1,315 | 760 |
Note: Exchange rates used in the above income statement are average for the periods shown. The average exchange rates for the Swiss Franc, Swedish Krona and the Deutschmark are stated below:
| | Averages for 1995 | Averages for 1994 | | USD 1.00 = SFr.: | 1.18 | 1.37 |
| USD 1.00 = SKr.: | 7.11 | 7.71 |
| USD 1.00 = DM: | 1.43 | 1.62 |