PT Ciputra Development Tbk And Subsidiaries

PT CIPUTRA DEVELOPMENT Tbk AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Nine Months Ended 30 September 2006 and 2005(In Rupiah)22. OPERATING EXPENSESOperating expenses consist of:2006 2005SellingAdvertising and promotions 25,506,324,114 23,537,007,171Sales commissions 7,861,636,445 16,841,566,371Others 5,610,878,653 2,999,650,204Sub-total 38,978,839,212 43,378,223,746General and administrativeSalaries and employees’ benefits 65,124,049,600 57,961,127,290Depreciation 33,799,877,895 27,812,704,498Professional fees 6,923,480,701 9,589,101,275Representation 6,175,119,836 5,038,714,103Water and electricity 4,093,766,580 1,443,678,407Insurance 2,544,799,873 4,521,218,901Postage and telecommunication 2,137,522,444 2,715,353,050Maintenance 1,607,976,634 3,302,887,763Property tax 1,429,489,604 1,500,477,052Traveling expenses 1,076,837,137 2,141,059,303Others 26,634,209,442 13,506,860,491Sub-total 151,547,129,746 129,533,182,133Total 190,525,968,958 172,911,405,87923. EXTRAORDINARY ITEMSThis account represents gain on troubled debts restructuring of the Company in accordance with debtcomposition plan dated 29 March 2006 (see Note 26).24. BASIC EARNINGS PER SHAREThe computation of basic earnings per share as of 30 September 2006 and 2005 is follows:2006 2005Income from operations 265,676,908,032 156,397,025,723Net income 566,087,033,975 51,932,210,861Amount of outstanding shareBeginning of period 1,612,500,000 1,612,500,000Debt to equity conversion (weighted average) 1,563,539,299 -The weighted average of outstanding share 3,176,039,299 1,612,500,000Earnings per share – Income from operations 84 97Earnings per share – Net income 178 32As of 30 September 2006 and 2005, the Company does not have any securities that have a potential to bediluted.29