Avon 2006 Annual Report Download - page 89

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2003 2002 (3) 2001 (4) 2000 1999 (5) 1998 (5) 1997 1996
$ 619.1 $ 72.7 $ 428.1 $ 186.4 $ (375.0) $ 11.9 $ (11.9) $ (41.7)
162.6 126.5 155.3 193.5 200.2 189.5 169.4 103.6
855.6 769.1 771.7 765.7 732.1 669.9 611.0 566.6
3,562.3 3,327.5 3,181.0 2,811.3 2,512.8 2,433.5 2,272.9 2,222.4
244.1 605.2 88.8 105.4 306.0 55.3 132.1 97.1
877.7 767.0 1,236.3 1,108.2 701.4 201.0 102.2 104.5
1,121.8 1,372.2 1,325.1 1,213.6 1,007.4 256.3 234.3 201.6
371.3 (127.7) (75.1) (230.9) (421.9) 285.1 285.0 241.7
7,400 7,300 7,900 8,000 7,800 8,000 8,100 7,800
32,500 32,100 29,800 28,800 27,200 25,900 26,900 25,900
39,900 39,400 37,700 36,800 35,000 33,900 35,000 33,700
(5) In 1998, we began a worldwide business process redesign program in order to streamline operations and recorded special charges of $154.4 pretax
($122.8 after tax, or $.46 per diluted share). In 1999, special charges related to this program totaled $136.4 pretax ($111.9 after tax, or $.43 per diluted
share). In 1999, we recorded an asset impairment charge of $38.1 pretax ($24.0 after tax, or $.09 per diluted share) related to the write-off of an order
management software system that had been under development.
(6) Effective, January 1, 2001, we adopted FAS No. 133, “Accounting for Derivative Instruments and Hedging Activities,” as amended by FAS No. 138,
“Accounting for Certain Derivatives and Hedging Activities,” which establishes accounting and reporting standards for derivative instruments and hedging
activities. To reflect the adoption of FAS 133, we recorded a charge of $0.3, net of a tax benefit of $0.2. This charge is reflected as a cumulative effect of
an accounting change in the Consolidated Statements of Income.
(7) For the year ended December 31, 2000, we 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 Consolidated
Statements of Income.
(8) 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.
(9) Our calculation of full-time equivalents, or number of employees, was revised in 1999. Data for periods prior to 1999 are not available for restatements. For
2006, approximately 28% of our U.S. associates are men, and men hold approximately 22% of all U.S. officer and manager positions, and approximately
15% of all U.S. office and clerical positions.