ADT 2002 Annual Report Download - page 69

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
2. Acquisitions and Divestitures (continued)
the acquisitions and amalgamation had occurred as of the beginning of the periods presented or that
may be achieved in the future.
For Year Ended September 30,
2002(1) 2001(2)
As As
Previously Previously
Reported As Restated(3) Reported As Restated(3)
(in millions, except per share data)
Net revenues .................... $36,108.5 $36,054.6 $40,140.6 $40,106.1
(Loss) income from continuing
operations ..................... (3,073.2) (2,841.0) 4,345.0 3,838.2
Net (loss) income ................. (9,414.5) (9,182.3) 3,646.6 3,139.8
Basic (loss) earnings per common share:
(Loss) income from continuing
operations ................... (1.54) (1.42) 2.21 1.95
Net (loss) income ............... (4.71) (4.60) 1.94 1.60
Diluted (loss) earnings per common
share:
(Loss) income from continuing
operations ................... (1.54) (1.42) 2.18 1.93
Net (loss) income ............... (4.71) (4.60) 1.83 1.58
(1) Includes charges for the impairment of long-lived assets of $3,309.5 million; net restructuring and other charges of
$1,874.7 million; goodwill impairment charges of $1,343.7 million; a loss on investments of $270.8 million; a net gain on the
sale of businesses of $23.6 million; gain on the early extinguishment of debt of $30.6 million; and loss from discontinued
operations of $6,341.3 million, net of tax. Excludes charge of $17.8 million for the write-off of purchased in-process research
and development associated with the acquisition of Sensormatic discussed in Note 7.
(2) Includes a net gain on sale of businesses of $410.4 million related primarily to the sale of ADT Automotive; a loss of
$133.8 million related to the write-down of an investment; a net gain of $24.5 million on the sale of shares of a subsidiary;
charges for the impairment of long-lived assets of $120.1 million; net restructuring and other charges totaling $585.3 million;
loss on the early extinguishment of debt of $26.3 million; and cumulative effect of accounting changes of $683.4 million, net
of tax. Excludes charge of $184.3 million for the write-off of purchased in-process research and development associated with
the acquisition of Mallinckrodt discussed in Note 7.
(3) Restated for adjustments discussed in Note 1.
During fiscal 2001, Tyco entered into an agreement to acquire C.R. Bard, Inc., a healthcare
products manufacturer. On February 6, 2002, Tyco and C.R. Bard, Inc. mutually terminated the merger
agreement. Each party bore its own costs, and no break up fee was paid.
During fiscal 2002, Tyco entered into an agreement to acquire McGrath RentCorp, a leading
provider of modular offices and classrooms and electronic test equipment. On July 1, 2002, McGrath
RentCorp elected to terminate the transaction agreement. Tyco reimbursed McGrath’s cost and
expenses in the amount of $1.25 million.
Fiscal 2001
During fiscal 2001, the Company purchased approximately 240 companies and business lines for an
aggregate cost of $10,137.8 million, consisting of $6,117.3 million in cash, net of $343.4 million of cash
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