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4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Consolidated financial statements
DANONE
REGISTRATION DOCUMENT 2015
72
4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
Consolidated financial statements
Consolidated income statement and earnings per share
Year ended December 31
(in € millions except earnings per share in €)
Notes
2014
2015
Net sales
5.1 to 5.2
21,144
22,412
Cost of goods sold
(11,056)
(11,212)
Selling expense
(5,209)
(5,677)
General and administrative expense
(1,743)
(1,944)
Research and Development expense
(272)
(307)
Other income (expense)
5.3
(202)
(380)
Trading operating income
2,662
2,892
Other operating income (expense)
6.1
(511)
(682)
Operating income
2,151
2,210
Interest income
94
122
Interest expense
(274)
(274)
Cost of net debt
10.6
(179)
(152)
Other financial income
11.3
5
1
Other financial expense
11.3
(137)
(134)
Income before tax
1,839
1,925
Income tax expense
8.1
(599)
(626)
Net income from fully consolidated companies
1,239
1,299
Share of profit of associates
4.8
14
99
Net income
1,253
1,398
Net income – Group share
1,119
1,282
Net income – Non-controlling interests
134
115
Net income – Group share, per share
13.4
1.88
2.10
Net income – Group share, per share after dilution
13.4
1.88
2.10