ADT 2009 Annual Report Download - page 175

TYCO INTERNATIONAL LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
Years Ended September 25, 2009, September 26, 2008 and September 28, 2007
(in millions, except per share data)
2009 2008 2007
Revenue from product sales ................................. $10,482 $13,064 $11,816
Service revenue .......................................... 6,755 7,135 6,661
Net revenue ........................................... 17,237 20,199 18,477
Cost of product sales ...................................... 7,584 9,200 8,495
Cost of services .......................................... 3,559 3,923 3,722
Selling, general and administrative expenses ...................... 4,657 4,906 4,776
Class action settlement, net .................................. — (10) 2,862
Separation costs .......................................... — 4 105
Goodwill and intangible asset impairments (See Note 10) ............ 2,705 10 59
Restructuring, asset impairment and divestiture charges, net (See Notes 2
and 3) ............................................... 219 225 190
Operating (loss) income .................................. (1,487) 1,941 (1,732)
Interest income .......................................... 44 110 104
Interest expense .......................................... (301) (396) (313)
Other expense, net ........................................ (7) (224) (255)
(Loss) income from continuing operations before income taxes and
minority interest ...................................... (1,751) 1,431 (2,196)
Income tax expense ....................................... (78) (335) (324)
Minority interest ......................................... (4) (1) (4)
(Loss) income from continuing operations ..................... (1,833) 1,095 (2,524)
Income from discontinued operations, net of income taxes ........... 35 458 782
Net (loss) income ....................................... $(1,798) $ 1,553 $ (1,742)
Basic earnings per share:
(Loss) income from continuing operations ..................... $ (3.87) $ 2.26 $ (5.10)
Income from discontinued operations ......................... 0.07 0.95 1.58
Net (loss) income ....................................... $ (3.80) $ 3.21 $ (3.52)
Diluted earnings per share:
(Loss) income from continuing operations ..................... $ (3.87) $ 2.25 $ (5.10)
Income from discontinued operations ......................... 0.07 0.94 1.58
Net (loss) income ....................................... $ (3.80) $ 3.19 $ (3.52)
Weighted-average number of shares outstanding:
Basic ................................................ 473 484 495
Diluted .............................................. 473 488 495
See Notes to Consolidated Financial Statements.
2009 Financials 83