date:May 04, 2014
m $4,513 million in the comparable quarter last year.
Nearly mirroring the net income gain, operating income in the first quarter was up 12%. Results included a $49 million benefit in connection with the companys poste-employment benefits plan and a $47 million gain from unrealized gains associated with hedging activities.
Excluding these gains operating income was flat.
Also helping income was reduced spending on the companys cost savings initiatives and gains from productivity, but these be