ADT 2002 Annual Report Download - page 125

Download and view the complete annual report

Please find page 125 of the 2002 ADT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 182

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
28. Summarized Quarterly Financial Data (Unaudited) (continued)
For the Year Ended September 30, 2002
1st Qtr.(1) 2nd Qtr.(2) 3rd Qtr.(3) 4th Qtr.(4)
Basic income (loss) per common share:
Income (loss) from continuing operations as previously
reported ................................. 0.47 (1.03) (0.23) (0.75)
Adjustments ............................... 0.05 (0.02) 0.03 0.05
Restated income (loss) from continuing operations .... 0.53 (1.05) (0.20) (0.70)
Net income (loss) per common share as previously
reported ................................. 0.61 (3.20) (1.35) (0.77)
Adjustments ............................... 0.05 (0.02) 0.03 0.05
Restated income (loss) per common share .......... 0.66 (3.22) (1.32) (0.72)
Diluted income (loss) per common share:
Income (loss) from continuing operations as previously
reported ................................. 0.47 (1.03) (0.23) (0.75)
Adjustments ............................... 0.05 (0.02) 0.03 0.05
Restated income (loss) from continuing operations .... 0.52 (1.05) (0.20) (0.70)
Net income (loss) per common share as previously
reported ................................. 0.60 (3.20) (1.35) (0.77)
Adjustments ............................... 0.05 (0.02) 0.03 0.05
Restated income (loss) per common share .......... 0.65 (3.22) (1.32) (0.72)
(1) Includes charges totaling $30.5 million, which includes restructuring and other charges and impairment charges of
$26.2 million, of which $5.8 million is included in cost of sales, primarily related to the termination of employees and the
write-down of inventory associated with the closure of facilities and the exiting of a product line. Also includes a loss of
$4.3 million related to the early retirement of debt.
(2) Includes charges totaling $3,132.7 million. The charges consist of impairment charges of $2,389.2 million primarily related to
the write-down of the TGN; restructuring and other charges of $600.1 million, of which $251.3 million is included in cost of
sales, primarily related to the write-down of inventory and facility closures within the Electronics segment; a loss on the
write-off of investments of $141.0 million. Also includes a loss of $2.4 million relating to the early retirement of debt.
(3) Includes charges totaling $1,172.4 million. The charges consist of goodwill impairment charges of $844.4 million relating to
continuing operations; impairment charges of $125.2 million related primarily to the impairment of property, plant and
equipment associated with the termination of a software development project within the Fire and Security Services segment;
net restructuring and other charges of $182.9 million, of which $2.5 million is included in cost of sales, related primarily to
the write-off of investment banking fees and other deal costs associated with the terminated break-up plan and certain
acquisitions that were not completed, and to a less extent, to severance associated with consolidating and streamlining
operations and an accrual for anticipated resolution and disposition of various labor and employment matters within the Fire
and Security Services segment; a write-off of purchased in-process research and development related to the acquisition of
Sensormatic of $13.4 million; and a loss on the write-down of investments of $6.5 million.
(4) Includes charges totaling $2,426.7 million consisting of goodwill impairment charges of $499.3 million relating to continuing
operations; net restructuring and other charges of $1,066.0 million, of which $375.8 million is included in cost of sales and
$115.0 million relates to a bad debt provision which is included in selling, general and administrative expenses, primarily
related to the decision to significantly scale back our Telecommunications business; impairment of long-lived assets of
$794.6 million primarily related to the write-down of property, plant and equipment within our Telecommunications business;
the write-off of in-process research and development of $4.4 million within our Fire and Security business; loss on the
write-down of investments of $123.3 million; and gain on sale of businesses of $23.6 million. Also includes $37.3 million of
income related to the early retirement of debt.
123