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79
29. SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED)
During the fourth quarter of Fiscal 2001, the Company adopted SAB 101, retroactive to the beginning of the fiscal year. Summarized
quarterly financial data for the year ended September 30, 2001 on an as reported basis and restated for the adoption of SAB 101 are
included in the table below.
FOR THE YEAR ENDED SEPTEMBER 30, 2001
($ IN MILLIONS, EXCEPT PER SHARE DATA) 1ST QTR.(1) 2ND QTR.(2) 3RD QTR.(3) 4TH QTR.(4)
Total revenues as previously reported $8,430.7 $8,894.5 $9,224.5 $10,014.8
Impact of SAB 101 8.7 (88.6) (96.1)
—
Restated revenues $8,439.4 $8,805.9 $9,128.4 $10,014.8
Consolidated income before extraordinary items and cumulative effect of
accounting changes as previously reported $1,009.2 $1,147.3 $1,220.2 $ 1,379.5
Impact of SAB 101 (8.4) (36.9) (39.8)
—
Restated income before extraordinary items and cumulative effect of
accounting changes $1,000.8 $1,110.4 $1,180.4 $ 1,379.5
Consolidated net income as previously reported(5) $ 979.5 $1,137.0 $1,216.8 $ 1,376.1
Impact of SAB 101 (662.1) (36.9) (39.8)
—
Restated net income $ 317.4 $1,100.1 $1,177.0 $ 1,376.1
BASIC EARNINGS PER COMMON SHARE:
Income before extraordinary items and cumulative effect of accounting changes as
previously reported $ 0.58 $ 0.66 $ 0.67 $ 0.71
Impact of SAB 101
—
(0.02) (0.02)
—
Restated 0.58 0.63 0.65 0.71
Net income as previously reported 0.56 0.65 0.67 0.71
Impact of SAB 101 (0.38) (0.02) (0.02)
—
Restated 0.18 0.63 0.65 0.71
DILUTED EARNINGS PER COMMON SHARE:
Income before extraordinary items and cumulative effect of accounting changes as
previously reported $ 0.57 $ 0.65 $ 0.67 $ 0.71
Impact of SAB 101
—
(0.02) (0.02)
—
Restated 0.57 0.63 0.64 0.71
Net income as previously reported 0.56 0.64 0.66 0.70
Impact of SAB 101 (0.38) (0.02) (0.02)
—
Restated 0.18 0.62 0.64 0.70
(1) Includes a net restructuring and other non-recurring credit of $175.6 million, of which a charge of $25.0 million is included in cost of revenue. The net credit consists of a net gain on
the sale of businesses of $410.4 million principally related to the sale of ADT Automotive; a write-off of purchased in-process research and development of $184.3 million; a non-recur-
ring charge of $25.0 million related to the sale of inventory, which had been written-up under purchase accounting; restructuring and other non-recurring charges of $18.1 million primarily
related to an environmental remediation project and the closure of a manufacturing plant; and a charge of $7.4 million primarily related to the impairment of property, plant and equipment
associated with the closure of a manufacturing plant.
(2) Includes a net restructuring and other non-recurring charge of $15.2, of which a charge of $46.4 million is included in cost of revenue. The net charge consists of a non-recurring
credit of $166.8 million related to the settlement of litigation, a non-recurring charge of $46.4 million, which is included in cost of revenue, primarily related to the sale of inventory,
which had been written-up under purchase accounting; a non-recurring charge of $114.0 million primarily related to the closure of facilities; charges of $17.7 million related to the impair-
ment of property, plant and equipment associated with the closure of these facilities; and a net loss on the sale of businesses and investments of $3.9 million primarily related to the sale
of ADT Automotive.
(3) Includes a net restructuring and other non-recurring charge of $118.8 million, of which charges of $7.4 million are included in cost of revenue. The net charge consists of a net loss on
sale of investments of $129.9 million and restructuring and other non-recurring and impairment charges totaling $53.0 million, related to certain Fire and Security Services businesses,
partially offset by a $64.1 million net gain on the sale of shares of a subsidiary.
(4) Includes a restructuring and other non-recurring charge of $423.8 million, of which charges of $106.1 million are included in cost of revenue. The charge consists of restructuring and
other non-recurring charges of $283.9 million, of which charges of $58.4 million are included in cost of revenue, primarily related to the closure of manufacturing facilities within the Elec-
tronics and Fire and Security Services segments; charges of $92.2 million related to the impairment of property, plant and equipment associated with the facilities closures; and a non-
recurring charge of $47.7 million, which is included in cost of revenue, related to the sale of inventory, which had been written-up under purchase accounting.
(5) Extraordinary items relate principally to the early extinguishment of debt. Cumulative effect of accounting changes relate to the adoption of SAB 101 and SFAS No. 133.