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3 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold Selling, general, and administrative expenses Depreciation $3,806 2,315 546

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3 Woodlands Inc. 2015 Income Statement ($ in millions) Total operating revenues Cost of goods sold Selling, general, and administrative expenses Depreciation $3,806 2,315 546 311 Earnings before interest and taxes (EBIT) Interest expense $634 170 Pretax income Taxes $464 162 $302 Net income 75 Dividends Woodlands Inc

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