Avon 2004 Annual Report Download - page 72

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Global Beauty 93
2001(5) 2000 1999(6) 1998(6) 1997 1996 1995 1994
$ 428.1 $ 186.4 $ (375.0) $ 11.9 $ (11.9) $ (41.7) $ (30.3) $ 9.3
155.3 193.5 200.2 189.5 169.4 103.6 72.7 99.9
771.7 765.7 732.1 669.9 611.0 566.6 537.8 528.4
3,181.0 2,811.3 2,512.8 2,433.5 2,272.9 2,222.4 2,052.8 1,978.3
88.8 105.4 306.0 55.3 132.1 97.1 47.3 61.2
1,236.3 1,108.2 701.4 201.0 102.2 104.5 114.2 116.5
1,325.1 1,213.6 1,007.4 256.3 234.3 201.6 161.5 177.7
(75.1) (230.9) (421.9) 285.1 285.0 241.7 192.7 185.6
9,600 9,800 9,700 8,000 8,100 7,800 8,000 7,900
34,200 33,200 30,800 25,900 26,900 25,900 23,800 22,500
43,800 43,000 40,500 33,900 35,000 33,700 31,800 30,400
(8) For the year ended December 31, 2000, the Company recorded a charge of $6.7 million, after tax, to reflect the adoption of Staff Accounting Bulletin
(“SAB”) No. 101, “Revenue Recognition in Financial Statements.”This charge is reflected as a cumulative effect of an accounting change in the Consoli-
dated Statements of Income.
(9) 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.”
(10) Two-for-one stock splits were distributed in May 2004, September 1998 and June 1996. All per share data in this report, unless indicated, have been
restated to reflect the splits.
(11) 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.
(12) For purposes of calculating diluted earnings per share for the years ended December 31, 2003, 2002, 2001 and 2000, after tax interest expense
of $5.7, $10.4, $10.0 and $4.5, respectively, applicable to Convertible Notes, has been added back to net income.
(13) 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 17%
of all U.S. officer and manager positions, and approximately 14% of all U.S. office and clerical positions.