Avon 2005 Annual Report Download - page 1

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22
Management’s Discussion and
Analysis of Financial Condition
and Results of Operations
22
Cautionary Statement
23
Overview
24
Critical Accounting Estimates
27
Results of Operations –
Consolidated
30
Segment Review
35
Liquidity and Capital Resources
38
Risk Management Strategies
and Market Rate Sensitive
Instruments
39
Market For Avon’s Common Stock
40
Consolidated Statements
of Income
41
Consolidated Balance Sheets
42
Consolidated Statements of
Cash Flows
43
Consolidated Statements of
Changes in Shareholders’ Equity
44
Notes to Consolidated
Financial Statements
72
Report of Management on Internal
Control Over Financial Reporting
73
Report of Independent Registered
Public Accounting Firm
74
Eleven-Year Review
C o n t e n t s
2005฀ANNUAL฀REPORT฀฀21

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