Adjustingfornon-operatingitems, includingthe $7.7 billion charge, replacementcostprofitwas $5.5 billion, up 18% on the year-ago quarter, and topping the consensus forecastof $4.6 billion.
In its most recent earnings on May 1, for example, the company said that it achieved a first-quarter operating margin, excluding special items, of 12.6 percent, up 1.3 points year over year.