|
CONSOLIDATED STATEMENTS OF INCOME
(In millions of US dollars, except per share data ($))
|
Three Months Ended
|
Six Months Ended
|
| |
As Reported |
As Reported |
Pro Forma |
As Reported |
As Reported |
Pro Forma |
| |
June 29 |
June 30 |
June 30 |
June 29 |
June 30 |
June 30 |
| |
2002 |
2001 |
2001 |
2002 |
2001 |
2001 |
| |
|
|
|
|
|
|
| Net sales |
1,520.1 |
1,575.1 |
1,575.1 |
2,866.1 |
3,481.1 |
3,481.1 |
| Other revenues |
11.0 |
12.1 |
12.1 |
20.2 |
27.2 |
27.2 |
| NET REVENUES |
1,531.1
|
1,587.2
|
1,587.2
|
2,886.3
|
3,508.3
|
3,508.3
|
| Cost of sales |
(955.3)
|
(1,054.6)
|
(983.9)
|
(1,858.5)
|
(2.119.9)
|
(2,049.2)
|
| GROSS PROFIT |
575.8 |
532.6 |
603.3 |
1,027.8 |
1,388.4 |
1,459.1 |
| Selling, general and administrative |
(159.9) |
(180.2) |
(180.2) |
(301.4) |
(356.9) |
(356.9) |
| Research and development |
(258.3) |
(255.7) |
(255.7) |
(481.9) |
(527.8) |
(527.8) |
| Other income and expenses |
(2.5) |
22.7 |
22.7 |
(19.4) |
28.0 |
28.0 |
| Impairment and restructuring charges |
(8.3) |
(311.3) |
0.0 |
(18.0) |
(311.3) |
0.0 |
| Total Operating Expenses |
(429.0) |
(724.5) |
(413.2) |
(820.7) |
(1,168.0) |
(856.7) |
| OPERATING INCOME (LOSS) |
146.8
|
(191.9)
|
190.1
|
207.1
|
220.4
|
602.4
|
| Net interest income (expense) |
(15.8) |
0.5 |
0.4 |
(31.2) |
3.5 |
3.5 |
Equity in earnings of joint ventures
INCOME BEFORE INCOME (LOSS) |
(3.3)
|
0.0
|
0.0
|
7.2
|
0.0
|
0.0
|
| TAXES AND MINORITY INTERESTS |
127.7
|
(191.4)
|
190.5
|
168.7
|
223.9
|
605.9
|
| Income tax expense |
(21.3)
|
28.6
|
(34.4)
|
(28.9)
|
(45.6)
|
(108.6)
|
| INCOME (LOSS) BEFORE MINORITY INTERESTS |
106.4
|
(162.8)
|
156.1
|
139.8
|
178.3
|
497.3
|
| Minority interests |
(1.7) |
(1.7) |
(1.6) |
(2.2) |
(2.0) |
(2.0) |
| NET INCOME (LOSS) |
104.7
|
(164.5)
|
154.5
|
137.6
|
176.3
|
495.3
|
| |
|
|
|
|
|
|
| EARNINGS (LOSS) PER SHARE (BASIC) |
0.12
|
(0.18)
|
0.17
|
0.15
|
0.20
|
0.56
|
| EARNINGS (LOSS) PER SHARE (DILUTED) |
0.12
|
(0.18)
|
0.17
|
0.15
|
0.20
|
0.54
|
| |
|
|
|
|
|
|
NUMBER OF WEIGHTED AVERAGE
SHARES USED IN CALCULATING
DILUTED EARNINGS PER SHARE |
894.0
|
894.5
|
907.8
|
895.7
|
907.8
|
931.9
|
| The pro forma amounts have been adjusted to eliminate the following : |
|
|
|
|
|
|
| |
Three Months Ended
June 30 2001 |
|
|
|
|
Six Months Ended
June 30 2001 |
| Excess inventory charge |
70.7 |
|
|
|
|
70.7 |
| Impairment and restructuring charges |
311.3 |
|
|
|
|
311.3 |
| Income tax effect |
(63.0)
|
|
|
|
|
(63.0)
|
| TOTAL |
319.0
|
|
|
|
|
319.0
|
|
|
|
