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C onsolidated statements of income
(in millions of euros) 2002 2001 2000
MANUFACTURING AND SALES COMPANIES
Net sales 52,906 50,288 42,978
Operating expenses
Cost of goods and services sold (40,196) (38,647) (31,946)
Selling, general and administrative expenses (8,251) (7,504) (7,550)
Research and development costs (1,865) (1,733) (1,625)
(50,312) (47,884) (41,121)
Operating margin 2,594 2,404 1,857
Early-termination plan costs (158) (31) 32
Other income and (expenses)
Restructuring costs (note 9) (124) (115) (41)
Interest income (expense), net (note 10) (25) (48) 86
Other income and (expense), net (note 11) 22 193 21
(127) 30 66
Income before tax of fully-consolidated companies 2,309 2,403 1,955
Income taxes (note 13) (666) (750) (601)
Net income of fully-consolidated manufacturing and sales companies 1,643 1,653 1,354
FINANCE COMPANIES
Revenues
From third parties 1,530 1,375 1,203
From Group manufacturing and sales companies 170 212 184
1,700 1,587 1,387
Operating expenses (note 12) (1,381) (1,339) (1,123)
Operating margin 319 248 264
Other income and (expenses), net (3) (4) (3)
Income before tax of fully-consolidated companies 316 244 261
Income taxes (note 13) (111) (85) (112)
Net income of fully-consolidated finance companies 205 159 149
Net income of fully-consolidated companies 1,848 1,812 1,503
Net earnings of companies at equity (note 18-c) 22 9 19
Amortization of goodwill (163) (140) (199)
Net income before minority interests 1,707 1,681 1,323
(Income) loss attributable to minority interests (17) 10 (11)
Net income 1,690 1,691 1,312
Basic earnings per €1 par value share (note 52)
- average number of common shares outstanding* 254,201,332 263,357,148 261,283,962
- in euros, per share 6.65 6.42 5.02
Diluted earnings per €1 par value share (note 52)
- average potential number of shares* 254,201,332 264,479,453 273,086,352
- in euros, per share 6.65 6.40 4.84
* The average number of shares for 2000 has been adjusted for the 2001 six-for-one stock-split.
The notes on pages 139 to 179 are an integral part of the consolidated financial statements.
PSA PEUGEOT CITROËN - APPENDICES TO THE MANAGING BOARD REPORT 133