Avon 2007 Annual Report Download - page 87

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Intangible assets 2007 2006
Carrying
Amount
Accumulated
Amortization
Carrying
Amount
Accumulated
Amortization
Amortized Intangible Assets
Customer relationships $37.9 $(18.4) $36.3 $(12.0)
Licensing agreements 41.2 (19.9) 36.0 (11.1)
Noncompete agreements 8.4 (5.6) 8.1 (3.8)
Total $87.5 $(43.9) $80.4 $(26.9)
Aggregate Amortization Expense:
2007 $16.4
2006 19.5
2005 5.4
Estimated Amortization Expense:
2008 $16.3
2009 14.0
2010 2.0
2011 2.0
2012 2.0
NOTE 17. Results of Operations by Quarter (Unaudited)
2007 First Second Third Fourth Year
Net sales $2,163.3 $2,306.4 $2,326.1 $3,049.4 $9,845.2
Other revenue 22.0 22.4 23.0 26.1 93.5
Gross profit 1,352.7 1,407.8 1,460.1 1,776.9 5,997.5
Operating profit 237.8 186.9 223.5 224.5 872.7
Income before taxes and minority interest 223.0 167.9 207.7 197.5 796.1
Income before minority interest 150.6 113.7 139.1 129.9 533.3
Net income $ 150.0 $ 112.7 $ 139.1 $ 128.9 $ 530.7
Earnings per share
Basic $ .34 $ .26 $ .32 $ .30 $ 1.22(1)
Diluted $ .34 $ .26 $ .32 $ .30 $ 1.21(1)
2006
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 1,228.0 1,307.4 1,248.3 1,563.7 5,347.4
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)
(1) The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.
First, second, third and fourth quarter 2007 include costs to imple-
ment restructuring initiatives of $9.7, $20.5, $27.2, and $100.9,
respectively, of which $.7, $.0, ($.4), and $.7 are reflected in cost of
sales, respectively, and $9.0, $20.5, $27.6, and $100.2 are reflected
in selling, general and administrative expenses, respectively.
First, second, third and fourth quarter 2006 include costs to imple
ment restructuring initiatives of $120.1, $49.4, $15.6, and $43.7,
respectively, of which ($.5), $.2, ($.5), and $.5 are reflected in cost
of sales, respectively, and $120.6, $49.2, $16.1, and $43.2 are
reflected in selling, general and administrative expenses, respectively.
A V O N 2007 F-35