Adaptec 2002 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2002 Adaptec 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 114

  • 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

The Company had approximately 4.4 million and 11.0 million options outstanding at December 31, 2002 and
2001, respectively, that were not included in diluted net loss per share because they would be antidilutive.
(1) PMC−Sierra, Ltd. Special Shares are included in the calculation of basic
weighted average common shares outstanding.
NOTE 15. Comprehensive Income
The components of comprehensive income, net of tax, are as follows:
Year Ended December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
(in thousands) 2002 2001 2000
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Net income (loss) $ (65,007) $ (639,054) $ 75,298
Other comprehensive income:
Change in net unrealized gains on investments,
net of tax of $14,978 in 2002
(2001 − $4,914 and 2000 − $22,629) (21,553) (7,071) 32,563
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Total $ (86,560) $ (646,125) $ 107,861
===============================================
NOTE 16. Related Party Transactions
In 2001, the Company made a real estate loan of approximately $2 million to a
former officer of a subsidiary company. The loan, which was included in other
investments and assets, was repaid in full in December 2002 prior to its
maturity date of December 31, 2002.
77