Avon 2006 Annual Report Download - page 88

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ELEVEN-YEAR REVIEW
In millions, except per share and employee data 2006(2) 2005 (2) 2004
Balance sheet data
Working capital $ 784.3 $ 419.3 $ 896.9
Capital expenditures 174.8 206.8 250.1
Property, plant and equipment, net 1,100.2 1,050.8 1,014.8
Total assets 5,238.2 4,761.4 4,148.1
Debt maturing within one year 615.6 882.5 51.7
Long-term debt 1,170.7 766.5 866.3
Total debt 1,786.3 1,649.0 918.0
Shareholders’ equity (deficit) 790.4 794.2 950.2
Number of employees
United States 6,600 7,300 7,200
International 33,700 35,700 34,700
Total employees (9) 40,300 43,000 41,900
(1) For the year ended December 31, 2000, we adopted the provisions of Emerging Issues Task Force (“EITF”) 00-10, “Accounting for Shipping and Handling
Fees and Costs,” which requires that amounts billed to customers for shipping and handling fees be classified as revenues. 1999 and 1998 have been
restated to reflect shipping and handling fees, previously reported in selling, general and administrative expenses, in other revenue in the Consolidated
Statements of Income. 1996 and 1997 have not been restated.
(2) In 2006 and 2005, we recorded restructuring charges and other costs to implement the restructuring initiatives totaling $228.8 and $56.5 pretax,
respectively, ($158.2 and $44.2 after tax, respectively, or $.35 and $.09 per diluted share, respectively), related to our multi-year restructuring plan
announced during 2005.
(3) In 2002, we recorded special charges of $43.6 pretax ($30.4 after tax, or $.12 per diluted share), primarily related to workforce reductions and facility
rationalizations. We also reversed $7.3 pretax ($5.2 after tax, or $.02 per diluted share).
(4) In 2001, we recorded special charges of $97.4 pretax ($68.3 after tax, or $.28 per diluted share), primarily related to workforce reductions and facility
rationalizations. In 2001, we also received a cash settlement, net of related expenses, of $25.9 pretax ($15.7 after tax, or $.06 per diluted share) to
compensate Avon for lost profits and incremental expenses as a result of the cancellation of a retail agreement with Sears.
A V O N 2006 E-3