American Home Shield 2002 Annual Report Download - page 37

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ServiceMaster 33
(Restated 1) (Restated 1) (Restated 1) (Restated 1)
(In thousands, except per share data) 2002 2001 2000 1999 1998
unaudited unaudited
Operating Results:
Operating revenue $ 3,589,089 $3,561,445 $3,421,802 $3,063,668 $2,185,352
Operating income 341,336 (23,177) 320,851 245,672 296,530
Percentage of operating revenue
9.5%
(1%) 9.4% 8.0% 13.6%
Non-operating expense 77,770 121,718 103,733 86,981 77,644
Provision for income taxes 93,468 19,569 92,844 67,628 90,510
Income from continuing operations 170,098 (164,464) 124,274 91,063 128,376
Discontinued operations, net (3,875) 284,270 40,568 61,626 51,601
Extraordinary loss, net of income taxes (9,229) (3,422) - - -
Cumulative effect of accounting change,
net of income taxes - - (11,161) - -
Net income $ 156,994 $ 116,384 $ 153,681 $ 152,689 $ 179,977
Earnings per share:
Basic $ 0.52 $ 0.39 $ 0.51 $ 0.50 $ 0.62
Diluted:
Income from continuing operations $ 0.56 $ (0.55) $ 0.41 $ 0.29 $ 0.43
Discontinued operations, net (0.01) 0.95 0.13 0.20 0.17
Extraordinary loss, net (0.03) (0.01) - - -
Cumulative effect of accounting change - - (0.04) - -
Diluted earnings per share $ 0.52 $ 0.39 $ 0.50 $ 0.49 $ 0.60
Shares used to compute
basic earnings per share 300,383 298,659 302,487 307,637 289,315
Shares used to compute
diluted earnings per share 314,112 298,659 305,518 314,406 298,887
Shares outstanding,
net of treasury shares 298,253 300,531 298,474 307,530 298,030
Cash dividends per share $ 0.41 $ 0.40 $ 0.38 $ 0.36 $ 0.33
Share price range:
High price $ 15.50 $ 14.20 $ 14.94 $ 22.00 $ 25.50
Low price $ 8.89 $ 9.84 $ 8.25 $ 10.13 $ 16.00
Financial Position (at year end):
Current assets $ 919,174 $1,119,050 $ 693,019 $ 705,661 $ 461,758
Current liabilities 839,064 805,298 675,902 712,520 608,289
Working capital 80,110 313,752 17,117 (6,859) (146,531)
Current ratio 1.1 – 1 1.4 – 11.0 – 11.0 – 1.8 – 1
Total assets $ 3,414,938 $3,621,245 $3,939,710 $3,819,687 $2,882,242
Total liabilities 2,095,929 2,311,381 2,753,226 2,567,372 1,861,217
Total debt outstanding
835,475
1,155,193 1,833,556 1,769,298 1,127,783
Minority interest 100,309 102,677 5,933 2,934 -
Shareholders’ equity $ 1,218,700 $1,207,187 $1,180,551 $1,249,381 $1,021,025
(1) See the “Restatement” section in the Notes to the Consolidated Financial Statements for the basis of the restatement and financial statement impact.
Five-Year Financial Summary