ADT 2003 Annual Report Download - page 117

115
TYCO INTERNATIONAL LTD.
28.
Supplementary Balance Sheet Information
Selected supplementary balance sheet information is presented
below ($ in millions).
SEPTEMBER 30, 2003 2002
Purchased materials and
manufactured parts $««1,095.3 $««1,234.6
Work in process 942.7 975.4
Finished goods 2,254.2 2,397.9
Inventories $««4,292.2 $««4,607.9
Short-term investments $«««««««51.4 $««««««««««—
Short-term investments (restricted) 424.9 93.5
Contracts in process 387.2 408.5
Prepaid expenses and other 1,185.3 959.7
Other current assets $««2,048.8 $««1,461.7
Land $«««««563.7 $«««««548.0
Buildings 2,810.1 2,708.8
Subscriber systems 4,930.5 4,614.6
Machinery and equipment 10,146.5 8,467.9
Leasehold improvements 362.7 363.9
Construction in progress 550.0 773.0
Accumulated depreciation (9,063.7) (7,615.2)
10,299.8 9,861.0
Construction in progress — TGN —372.9
TGN — placed in service —214.3
Accumulated depreciation
TGN — placed in service —(5.6)
Property, plant and equipment, net $10,299.8 $10,442.6
Non-current restricted cash $«««««303.0 $««««««««««—
Long-term investments 162.1 297.8
Long-term investments (restricted) 45.3 —
Non-current portion of deferred
income taxes 2,157.0 1,800.3
Other 1,609.6 1,493.4
Other assets $««4,277.0 $««3,591.5
Accrued payroll and payroll-
related costs (including bonuses) $«««««861.8 $«««««963.7
Current portion of deferred
income taxes 27.9 18.1
Accrued expenses and other 3,109.4 4,366.9
Accrued expenses and other
current liabilities $««3,999.1 $««5,348.7
Deferred revenue — non-current portion $««1,192.2 $««1,195.8
Deferred income taxes 1,554.7 985.6
Income taxes 2,027.7 2,166.9
Other 3,465.1 2,940.6
Other long-term liabilities $««8,239.7 $««7,288.9
29.
Supplementary Cash Flow Information
Selected supplementary cash flow information is presented
below ($ in millions).
YEAR ENDED SEPTEMBER 30, 2003 2002 2001
Interest paid $1,143.0 $943.8 $896.5
Income taxes paid 608.0 668.3 798.9
Net (repayments of) proceeds from debt consist of the follow-
ing ($ in millions):
YEAR ENDED SEPTEMBER 30, 2003 2002 2001
Net (repayments of)
proceeds from
short-term debt $(7,908.6) $«2,065.2 $«(1,947.7)
Proceeds from issuance
of long-term debt 4,387.5 5,417.0 11,794.7
Repayment of long-term
debt, including
debt tenders (1,097.5) (5,530.9) (1,311.4)
$(4,618.6) $«1,951.3 $««8,535.6
30.
Variable Interest Entities (VIE’s)
During fiscal 2003, the Company adopted FIN 46, which requires
identification of the Company’s participation in VIE’s, which
are entities with a level of invested equity that is not sufficient
to fund future activities to permit them to operate on a stand-
alone basis, or whose equity holders lack certain characteristics
of a controlling financial interest. For entities identified as
VIE’s, FIN 46 sets forth a model to evaluate potential consoli-
dation based on an assessment of which party to VIE’s, if any,
bears a majority of the risk to its expected losses, or stands to
gain from a majority of its expected returns.
The Company has programs under which it sells machinery
and equipment to investors who, in turn, purchase and receive
ownership and security interests in those assets. As such, the
Company may have certain investments in those affiliated com-
panies whereby it provides varying degrees of financial support
and where the investors are entitled to a share in the results of
those entities but do not consolidate these entities. While these
entities may be substantive operating companies, they have
been evaluated for potential consolidation under FIN 46.