ADT 2008 Annual Report Download - page 270

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
24. Tyco International Finance S.A. (Continued)
CONSOLIDATING STATEMENT OF OPERATIONS
For the Year Ended September 26, 2008
($ in millions)
Tyco Tyco
International International Other Consolidating
Ltd. Finance S.A. Subsidiaries Adjustments Total
Net revenue ..................... $ — $ — $20,199 $ — $20,199
Cost of product sales .............. — — 9,200 — 9,200
Cost of services .................. — — 3,923 — 3,923
Selling, general and administrative
expenses ...................... 58 5 4,843 — 4,906
Class action settlement, net of insurance
recoveries ..................... (10) — — — (10)
Separation costs .................. (19) — 23 — 4
Goodwill impairment .............. — — 9 — 9
Restructuring, asset impairment and
divestiture charges, net ........... — — 226 — 226
Operating (loss) income .......... (29) (5) 1,975 — 1,941
Interest income .................. 47 1 62 — 110
Interest expense .................. (47) (336) (13) — (396)
Other expense, net ................ 39 (252) (11) — (224)
Equity in net income of subsidiaries .... 2,552 1,523 — (4,075) —
Intercompany interest and fees ....... (1,467) 143 1,324 — —
Income from continuing operations
before income taxes and minority
interest ..................... 1,095 1,074 3,337 (4,075) 1,431
Income taxes .................... — 159 (494) — (335)
Minority interest .................. — — (1) — (1)
Income from continuing operations . . 1,095 1,233 2,842 (4,075) 1,095
Income from discontinued operations,
net of income taxes .............. 458 465 462 (927) 458
Net income .................... $1,553 $1,698 $ 3,304 $(5,002) $ 1,553
2008 Financials 167