Selected Financial Data
Selected Financial Data
| (In Millions, Except Per Share Amounts) | 2009 | 2008 | 2007 | 2006 | 2005(1) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net revenue | $ | 35,127 | $ | 37,586 | $ | 38,334 | $ | 35,382 | $ | 38,826 | |||||
| Gross margin | $ | 19,561 | $ | 20,844 | $ | 19,904 | $ | 18,218 | $ | 23,049 | |||||
| Research and development | $ | 5,653 | $ | 5,722 | $ | 5,755 | $ | 5,873 | $ | 5,145 | |||||
| Operating income | $ | 5,711 | $ | 8,954 | $ | 8,216 | $ | 5,652 | $ | 12,090 | |||||
| Net income | $ | 4,369 | $ | 5,292 | $ | 6,976 | $ | 5,044 | $ | 8,664 | |||||
| Earnings per common share | |||||||||||||||
Basic |
$ | 0.79 | $ | 0.93 | $ | 1.20 | $ | 0.87 | $ | 1.42 | |||||
Diluted |
$ | 0.77 | $ | 0.92 | $ | 1.18 | $ | 0.86 | $ | 1.40 | |||||
| Weighted average diluted common shares outstanding | 5,645 | 5,748 | 5,936 | 5,880 | 6,178 | ||||||||||
| Dividends per common share | |||||||||||||||
Declared |
$ | 0.56 | $ | 0.5475 | $ | 0.45 | $ | 0.40 | $ | 0.32 | |||||
Paid |
$ | 0.56 | $ | 0.5475 | $ | 0.45 | $ | 0.40 | $ | 0.32 | |||||
| Net cash provided by operating activities | $ | 11,170 | $ | 10,926 | $ | 12,625 | $ | 10,632 | $ | 14,851 | |||||
| Additions to property, plant and equipment | $ | 4,515 | $ | 5,197 | $ | 5,000 | $ | 5,860 | $ | 5,871 | |||||
| (Dollars in Millions) | Dec. 26, 2009 | Dec. 27, 2008(2) | Dec. 29, 2007(2) | Dec. 30, 2006(2) | Dec. 31, 2005(2) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property, plant and equipment, net | $ | 17,225 | $ | 17,574 | $ | 16,938 | $ | 17,614 | $ | 17,114 | |||||
| Total assets | $ | 53,095 | $ | 50,472 | $ | 55,664 | $ | 48,372 | $ | 48,309 | |||||
| Long-term debt | $ | 2,049 | $ | 1,185 | $ | 1,269 | $ | 1,128 | $ | 1,377 | |||||
| Stockholders' equity | $ | 41,704 | $ | 39,546 | $ | 43,220 | $ | 37,210 | $ | 36,640 | |||||
| Employees (in thousands) | 79.8 | 83.9 | 86.3 | 94.1 | 99.9 | ||||||||||
| (1) | Beginning in 2006, we adopted new standards that changed the accounting for employee equity incentive plans requiring the recognition of share-based compensation. |
| (2) | As adjusted due to changes to the accounting for convertible debt instruments. See "Note 3: Accounting Changes" in Part II, Item 8 of this Form 10-K. |
The ratio of earnings to fixed charges for each of the five years in the period ended December 26, 2009 was as follows:
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 44x | 51x | 72x | 50x | 169x |
Fixed charges consist of interest expense, capitalized interest, and the estimated interest component of rental expense.