Consolidated income statement

millions of CHF	Notes	2017	2016
Sales	3	3’049.0	2’876.7
Cost of goods sold		–2’112.4	–1’997.3
Gross profit		936.6	879.4
Selling and distribution expenses		–337.2	–309.2
General and administrative expenses		–362.7	–324.6
Research and development expenses	10	–81.0	–71.4
Other operating income and expenses, net	11	–19.2	–58.9
Operating income		136.5	115.3
Interest and securities income	12	4.1	5.2
Interest expenses	12	–15.2	–17.4
Other financial income and expenses, net	12	0.3	–7.1
Share of loss of associates	16	–0.3	–0.8
Income before income tax expenses		125.4	95.2
Income tax expenses	13	–38.2	–35.1
Net income		87.2	60.1
Attributable to shareholders of Sulzer Ltd		83.2	59.0
Attributable to non-controlling interests		4.0	1.1

Earnings per share (in CHF)
Basic earnings per share	24	2.44	1.73
Diluted earnings per share	24	2.42	1.72