ADT 1999 Annual Report Download - page 40

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38
consolidated statements of operations
Nine Months
Year Ended September 30, Ended
September 30,
(in millions, except per share data) 1999 1998 1997
Net Sales $22,496.5 $19,061.7 $12,742.5
Cost of sales 14,405.6 12,694.8 8,523.6
Selling, general and administrative expenses 4,436.3 4,161.9 2,635.8
Merger, restructuring and other non-recurring charges 1,182.8 256.9 947.9
Charge for the impairment of long-lived assets 335.0
—
148.4
Write-off of purchased in-process research and development
——
361.0
Operating Income 2,136.8 1,948.1 125.8
Interest income 61.5 62.6 43.8
Interest expense (547.1) (307.9) (170.0)
Income (loss) before income taxes, extraordinary items and
cumulative effect of accounting changes 1,651.2 1,702.8 (0.4)
Income taxes (620.2) (534.2) (348.1)
Income (loss) before extraordinary items and
cumulative effect of accounting changes 1,031.0 1,168.6 (348.5)
Extraordinary items, net of taxes (45.7) (2.4) (58.3)
Cumulative effect of accounting changes, net of taxes
——
15.5
Net Income (Loss) 985.3 1,166.2 (391.3)
Dividends on preference shares
——
(4.7)
Net Income (Loss) Available to Common Shareholders $ 985.3 $ 1,166.2 $ (396.0)
Basic Earnings (Loss) Per Common Share:
Income (loss) before extraordinary items and
cumulative effect of accounting changes $ 0.63 $ 0.74 $ (0.24)
Extraordinary items, net of taxes (0.03)
—
(0.04)
Cumulative effect of accounting changes, net of taxes
——
0.01
Net income (loss) per common share 0.60 0.74 (0.27)
Diluted Earnings (Loss) Per Common Share:
Income (loss) before extraordinary items and
cumulative effect of accounting changes $ 0.62 $ 0.72 $ (0.24)
Extraordinary items, net of taxes (0.03)
—
(0.04)
Cumulative effect of accounting changes, net of taxes
——
0.01
Net income (loss) per common share 0.59 0.72 (0.27)
Weighted-Average Number of Common Shares Outstanding:
Basic 1,641.3 1,583.4 1,476.7
Diluted 1,674.8 1,624.7 1,476.7
See Notes to Consolidated Financial Statements.