ADT 2002 Annual Report Download - page 128
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TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
29. Tyco International Group S.A.
Tyco International Group S.A. (‘‘TIG’’), a wholly-owned subsidiary of the Company, has public debt
securities outstanding (see Note 18) which are fully and unconditionally guaranteed by Tyco. The
following tables present condensed consolidating financial information for Tyco, TIG and all other
subsidiaries. Condensed financial information for Tyco and TIG on a stand-alone basis are presented
using the equity method of accounting for subsidiaries in which they own or control twenty percent or
more of the voting shares. All periods have been restated for the adjustments described in Note 1.
CONSOLIDATING STATEMENT OF OPERATIONS (RESTATED)
For the Year Ended September 30, 2002
($ in millions)
Tyco Tyco
International International Other Consolidating
Ltd. Group S.A. Subsidiaries Adjustments Total
Net revenues ................... $ — $ — $35,589.8 $ — $35,589.8
Cost of product sales ............. — — 19,495.1 — 19,495.1
Cost of services ................. — — 3,570.2 — 3,570.2
Selling, general and administrative
expenses ..................... 26.9 (0.5) 8,155.2 — 8,181.6
Restructuring and other charges, net . . 0.7 0.4 1,123.2 — 1,124.3
Charges for the impairment of long-
lived assets ................... — — 3,309.5 — 3,309.5
Goodwill impairment ............. — — 1,343.7 — 1,343.7
Write-off of purchased in-process
research and development ........ — — 17.8 — 17.8
Operating (loss) income ........... (27.6) 0.1 (1,424.9) — (1,452.4)
Interest (expense) income, net ...... (116.7) (894.0) 51.0 — (959.7)
Other income (expense), net ........ 2.6 33.1 (252.3) — (216.6)
Equity in net (loss) income of
subsidiaries ................... (8,516.1) 2,002.9 — 6,513.2 —
Intercompany interest and fees ...... (521.7) 861.1 (339.4) — —
(Loss) income from continuing
operations before income taxes and
minority interest ............... (9,179.5) 2,003.2 (1,965.6) 6,513.2 (2,628.7)
Income taxes ................... — (0.2) (207.9) — (208.1)
Minority interest ................ — — (1.4) — (1.4)
(Loss) income from continuing
operations ................... (9,179.5) 2,003.0 (2,174.9) 6,513.2 (2,838.2)
Loss from discontinued operations of
Tyco Capital, net of tax .......... — — (6,282.5) — (6,282.5)
Loss on sale of Tyco Capital, net of tax — — (58.8) — (58.8)
Net (loss) income ................ $(9,179.5) $2,003.0 $ (8,516.2) $6,513.2 $(9,179.5)
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