2002 Summary of Reconciling Items
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Summary of Reconciling Items 2002

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Summary of Reconciling Items 2002

  1. 1. 2002 Summary of Reconciling Items ® ® Q1 02 Q2 02 Q3 02 Q4 02 FY 02 ($ U.S. millions) Reorganization costs(1) $ 71.1 $ 39.5 $ 5.4 3.4 22.8 $ $ Other major-program costs included in: - 21.1 - 44.0 22.9 Selling, general and administrative expenses (1) - 1.2 Cost of sales (1) 0.3 1.5 - 116.6 62.7 5.4 Operating income items 3.4 45.1 (6.5) - - - (6.5) Gain on sale of securities (3.1) 5.4 45.1 62.7 110.1 Pre-tax items Provisions for taxes: (23.2) Tax effect on pre-tax items 1.1 (2.0) (16.7) (40.8) Cumulative effect of adoption of a new - accounting standard (2) - 280.9 280.9 - $ 350.2 Total net of tax $ 39.5 3.4 $ $ 278.9 $ 28.4 (1) Reorganization costs of $3.4 ($1.0 in North America, $1.3 in Europe, $0.1 in Asia-Pacific and $1.0 in Latin America) in Q1 02 represent employee termination benefits for workforce reductions worldwide and lease exit costs for facility consolidations in Europe and Latin America. Reorganization costs of $5.4 ($2.5 in North America, $1.9 in Europe, $0.4 in Asia-Pacific and $0.6 in Latin America) in Q2 02 represent employee termination benefits for workforce reductions worldwide and lease exit costs for facility consolidations in North America and Europe. Major program costs of $45.1 in Q3 02 include reorganization costs of $22.8 ($17.9 in North America, $4.6 in Europe, less than $0.1 in Asia-Pacific and $0.3 in Latin America) primarily for employee termination benefits for workforce reductions worldwide and lease exit costs for facility consolidations in North America and Europe; $21.1 charged to selling, general and administrative expenses ($16.4 in North America and $4.7 in Europe), primarily comprised of accelerated depreciation of fixed assets associated with the planned exit of facilities, consulting fees directly associated with the profit-enhancement plan and certain other related costs; and $1.2 recorded as cost of sales, comprised of incremental inventory-related costs caused by the exit of certain markets. Major program costs of $62.7 in Q4 02 include reorganization costs of $39.5 ($34.2 in North America, $4.8 in Europe, less than $0.1 in Asia-Pacific and $0.5 in Latin America) primarily for employee termination benefits for workforce reductions worldwide and lease exit costs for facility consolidation and other costs related to reorganization activities in North America and Europe; $22.9 charged to selling, general and administrative expenses ($21.2 in North America, $1.3 in Europe, and $0.4 in Asia Pacific), primarily comprised of accelerated depreciation of fixed assets associated with the planned exit of facilities, consulting fees directly associated with the profit-enhancement plan and certain other related costs; and $0.3 recorded as cost of sales in Europe, comprised of incremental inventory-related costs caused by the exit of certain markets. (2) Adoption of Statement of Financial Accounting Standard No. 142, “Goodwill and Other Intangible Assets.” 000000_1 1
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