Year ended December 31
Millions of Dollars 2007 2006 2005
See accompanying Notes to the Consolidated Financial Statements.
Net Income $18,688 $17,138 $14,099
Currency translation adjustment
Unrealized net change arising during period 31 55 (5)
Unrealized holding gain (loss) on securities
Net gain (loss) arising during period 17 (88) (32)
Reclassification to net income of net realized loss 2 – –
Total 19 (88) (32)
Derivatives
Net derivatives (loss) gain on hedge transactions (10) 2 (242)
Reclassification to net income of net realized loss 7 95 34
Income taxes on derivatives transactions (3) (30) 77
Total (6) 67 (131)
Defined benefit plans
Minimum pension liability adjustment – (88) 89
Actuarial loss
Amortization to net income of net actuarial loss 356 – –
Actuarial gain arising during period 530 – –
Prior service cost
Amortization to net income of net prior service credits (15) – –
Prior service cost arising during period 204 – –
Nonsponsored defined benefit plans 19 – –
Income taxes on defined benefit plans (409) 50 (31)
Total 685 (38) 58
Other Comprehensive Gain (Loss), Net of Tax 729 (4) (110)
Comprehensive Income $19,417 $17,134 $13,989