Avon 2006 Annual Report Download - page 82

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Intangible Assets
2006 2005
Carrying
Amount
Accumulated
Amortization
Carrying
Amount
Accumulated
Amortization
Amortized Intangible Assets
Customer relationships $36.3 $(12.0) $40.8 $(3.3)
Licensing agreements 36.0 (11.1) 32.0 (1.6)
Noncompete agreements 8.1 (3.8) 9.2 (3.4)
Total $80.4 $(26.9) $82.0 $(8.3)
Aggregate Amortization Expense:
2006 $19.5
2005 5.4
2004 3.4
Estimated Amortization Expense:
2007 $15.9
2008 15.6
2009 13.4
2010 1.3
2011 1.3
NOTE 17. Results of Operations by Quarter (Unaudited)
2006 First Second Third Fourth Year
Net sales $1,982.4 $2,058.9 $2,038.1 $2,597.9 $8,677.3
Other revenue 20.8 20.6 20.5 24.7 86.6
Gross profit 1,223.5 1,303.0 1,243.8 1,559.0 5,329.3
Operating profit 86.2 225.3 167.5 282.4 761.4
Income before taxes and minority interest 71.3 217.3 149.0 265.9 703.5
Income before minority interest 56.8 150.7 87.5 185.1 480.1
Net income $ 56.2 $ 150.9 $ 86.4 $ 184.1 $ 477.6
Earnings per share:
Basic $ .12 $ .34 $ .19 $ .42 $ 1.07(1)
Diluted $ .12 $ .34 $ .19 $ .41 $ 1.06(1)
2005
Net sales $1,860.9 $1,963.9 $1,865.7 $2,374.7 $8,065.2
Other revenue 20.2 20.4 20.3 23.5 84.4
Gross profit 1,182.9 1,253.9 1,161.5 1,417.6 5,015.9
Operating profit 260.5 344.0 247.1 297.4 1,149.0
Income before taxes and minority interest 253.7 340.8 242.1 287.6 1,124.2
Income before minority interest 173.9 330.5 165.1 185.0 854.5
Net income $ 172.0 $ 328.6 $ 163.8 $ 183.2 $ 847.6
Earnings per share:
Basic $ .36 $ .70 $ .35 $ .40 $ 1.82(1)
Diluted $ .36 $ .69 $ .35 $ .40 $ 1.81(1)
(1) The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.