Avon 2001 Annual Report Download - page 49

PAGE 75
1998 1997 1996 1995 1994 1993 1992
$5,212.7 $5,079.4 $4,814.2 $4,492.1 $4,266.5 $ 3,844.1 $3,660.5
35.0(4) ——————
5,247.7 5,079.4 4,814.2 4,492.1 4,266.5 3,844.1 3,660.5
473.2(11) 537.8 538.0 500.8 489.5 427.4 339.9(13)
34.7 35.5 33.2 34.6 44.7 39.4 38.4
455.9(11) 534.9 510.4 465.0 433.8 394.6 290.0(13)
265.1(11) 337.0 319.0 288.6 270.3 243.8 169.4(13)
270.0(11) 338.8 317.9 286.1 264.8 236.9 164.2(13)
— — — (29.6) (23.8) 2.7 10.8
————(45.2)(12) (107.5)(12) —
270.0(11) 338.0 317.9 256.5 195.8 132.1 175.0(13)
$ 1.03(11) $ 1.28 $ 1.19 $ 1.05 $ .94 $ .82 $ .57(13)
— — — (.11) (.09) .01 .04
————(.16) (.37) —
1.03(11) 1.28 1.19 .94 .69 .46 .61(13)
$ 1.02(11) $ 1.27 $ 1.18 $ 1.05 $ .93 $ .82 $ .57(13)
— — — (.11) (.08) .01 .04
————(.16) (.37) —
1.02(11) 1.27 1.18 .94 .69 .46 .61(13)
$ .68 $ .63 $ .58 $ .53 $ .48 $ .43 $ .38
———————
$ 11.9 $ (11.9) $ (41.7) $ (30.3) $ 9.3 $ 23.1 $ (99.5)
189.5 169.4 103.6 72.7 99.9 58.1 62.7
669.9 611.0 566.6 537.8 528.4 476.2 476.7
2,433.5 2,272.9 2,222.4 2,052.8 1,978.3 1,918.7 1,692.6
55.3 132.1 97.1 47.3 61.2 70.4 37.3
201.0 102.2 104.5 114.2 116.5 123.7 177.7
256.3 234.3 201.6 161.5 177.7 194.1 215.0
285.1 285.0 241.7 192.7 185.6 314.0 310.5
8,000 8,100 7,800 8,000 7,900 8,000 8,700
25,900 26,900 25,900 23,800 22,500 21,500 20,700
33,900 35,000 33,700 31,800 30,400 29,500 29,400
(8) Two-for-one stock splits were distributed in September 1998 and June 1996.
All per share data in this report, unless indicated, have been restated to reflect
the splits.
(9) Effective for the year ended December 31, 1997, the Company adopted
Statement of Financial Accounting Standards (“FAS”) No. 128, “Earnings per
Share.” FAS No. 128 establishes standards for computing and presenting earnings
per share (“EPS”) and replaces the presentation of previously disclosed EPS with
both basic and diluted EPS. Based upon the Company’s capitalization structure,
the EPS amounts calculated in accordance with FAS No. 128 approximated the
Company’s EPS amounts in accordance with Accounting Principles Board
Opinion No. 15, “Earnings per Share.” All prior period EPS data have been
restated in accordance with FAS No. 128.
(10) Avon’s calculation of full-time equivalents, or number of employees,
was revised in 1999. Restatements of prior year data are not available, and,
therefore, year-over-year comparisons are not meaningful. Approximately 27%
of Avon’s U.S. associates are men. Men hold approximately 16% of all U.S.
officer and manager positions, and approximately 12% of all U.S. office and
clerical positions.
(11) In 1998, Avon began a worldwide business process redesign program in
order to streamline operations and recorded Special charges of $154.4 ($122.8
after tax, or $.46 per share on a diluted basis). In 1999, Special charges related
to this program totaled $136.4 ($111.9 net of tax, or $.43 per share on a diluted
basis). In 1999, Avon recorded an Asset impairment charge of $38.1 pretax
($24.0 after tax, or $.09 per share on a diluted basis) related to the write-off of
an order management software system that had been under development.
(12) Effective January 1, 1994, Avon adopted FAS No. 112, “Employers’
Accounting for Postemployment Benefits”, for all applicable operations, and FAS
No. 106, “Employers’ Accounting for Postretirement Benefits Other Than
Pensions”, for its foreign benefit plans. Effective January 1, 1993, Avon adopted
FAS No. 106 for its U.S. retiree health care and life insurance benefit plans and
FAS No. 109, “Accounting for Income Taxes.”
(13) In 1992, Avon recorded a provision of $96.0 ($64.4 after tax, or $.22 per
share on a basic and diluted basis) for restructuring of its worldwide manufactur-
ing and distribution facilities.