ADT 2002 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 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)
1. Basis of Presentation, Restatement and Summary of Significant Accounting Policies (continued)
except per share data). The amounts previously reported are derived from the original Form 10-K for
the year ended September 30, 2002 filed on December 30, 2002:
Fiscal 2002 Fiscal 2001 Fiscal 2000
Amounts Amounts Amounts
Previously As Previously As Previously As
Reported Restated Reported Restated Reported Restated
Statements of Operations:
Revenues from product sales .............. $28,794.8 $28,741.8 $28,987.4 $28,953.1 $24,958.4 $24,959.1
Service revenue ....................... 6,848.9 6,848.0 5,049.2 5,049.0 3,973.5 3,968.4
Net revenues ......................... 35,643.7 35,589.8 34,036.6 34,002.1 28,931.9 28,927.5
Cost of product sales ................... 19,510.8 19,495.1 18,334.4 18,319.7 15,959.8 15,983.1
Cost of services ....................... 3,570.2 3,570.2 2,615.9 2,615.9 1,971.4 1,971.4
Selling, general and administrative expenses .... 8,086.8 8,181.6 6,361.5 6,745.3 5,252.0 5,500.7
Restructuring and other charges, net ......... 1,203.9 1,124.3 233.6 400.4 175.3 175.3
Charges for impairment of long-lived assets .... 3,489.5 3,309.5 120.1 120.1 99.0 99.0
Goodwill impairment ................... 1,343.7 1,343.7 ————
Write-off of purchased in-process research and
development ....................... 17.8 17.8 184.3 184.3 — —
Operating (loss) income ................ (1,579.0) (1,452.4) 6,186.8 5,616.4 5,474.4 5,198.0
Interest income ....................... 117.3 117.3 128.3 128.3 75.2 75.2
Interest expense ....................... (1,077.0) (1,077.0) (904.8) (904.8) (844.8) (844.8)
Other (expense) income, net .............. (233.0) (216.6) 250.3 250.3 (0.3) (0.3)
Net (loss) gain on sale of common shares of
subsidiary ......................... (39.6) — 64.1 24.5 1,760.0 1,760.0
(Loss) income from continuing operations before
taxes and minority interest .............. (2,811.3) (2,628.7) 5,724.7 5,114.7 6,464.5 6,188.1
Income taxes ......................... (257.7) (208.1) (1,275.7) (1,172.3) (1,925.9) (1,850.9)
Minority interest ...................... (1.4) (1.4) (47.5) (47.5) (18.7) (18.7)
(Loss) income from continuing operations ..... (3,070.4) (2,838.2) 4,401.5 3,894.9 4,519.9 4,318.5
(Loss) income from discontinued operations, net
of tax ............................ (6,282.5) (6,282.5) 252.5 252.5 — —
Loss on sale of Tyco Capital, net of tax ....... (58.8) (58.8) ————
(Loss) income before cumulative effect of
accounting changes ................... (9,411.7) (9,179.5) 4,654.0 4,147.4 4,519.9 4,318.5
Cumulative effect of accounting change, net of
tax .............................. — — (683.4) (683.4) — —
Net (loss) income ...................... $(9,411.7) $ (9,179.5) $ 3,970.6 $ 3,464.0 $ 4,519.9 $ 4,318.5
Basic net (loss) income per common share .... $ (4.73) $ (4.62) $ 2.20 $ 1.92 $ 2.68 $ 2.56
Diluted net (loss) income per common share . . . (4.73) (4.62) 2.17 1.89 2.64 2.52
50