Kodak 2000 Annual Report Download - page 65

(Dollar amounts and shares in millions, except per share data) 2 0 0 0 1 9 9 9 1 9 9 8 1 9 9 7 1 9 9 6
Sales from continuing operations $1 3 , 9 9 4 $1 4 , 0 8 9 $ 1 3 , 4 0 6 $ 1 4 , 5 3 8 $ 1 5 , 9 6 8
E a rnings from operations 2 , 2 1 4 1 , 9 9 0 1 , 8 8 8 1 3 0 1 , 8 4 5
E a rnings from continuing operations after tax 1 , 4 0 7( 1 ) 1 , 3 9 2(2) 1 , 3 9 0( 3 ) 5( 5 ) 1 , 0 1 1( 7 )
E a rnings from discontinued operations after tax –– – – 2 7 7
Net earn i n g s 1 , 4 0 7( 1 ) 1 , 3 9 2( 2 ) 1 , 3 9 0( 3 ) 5( 5 ) 1 , 2 8 8( 7 )
E a rnings and Dividends
Net earn i n g s
— % of sales 1 0 . 1 % 9 . 9 % 1 0 . 4 % 0 . 0 % 8 . 1 %
— % re t u rn on average shareholders ’ equity 3 8 . 3 % 3 5 . 2 % 3 8 . 9 % 0 . 1 % 2 6 . 1 %
Basic earnings per share 4 . 6 2 4 . 3 8 4 . 3 0 . 0 1 3 . 8 2( 8 )
Diluted earnings per share 4 . 5 9 4 . 3 3 4 . 2 4 . 0 1 3 . 7 6( 8 )
Cash dividends declare d
— on common share s 5 3 3 5 6 0 5 7 0 5 7 7 5 3 9
— per common share 1 . 7 6 1 . 7 6 1 . 7 6 1 . 7 6 1 . 6 0
Common shares outstanding at year end 2 9 0 . 5 3 1 0 . 4 3 2 2 . 8 3 2 3 . 1 3 3 1 . 8
S h a reholders at year end 1 1 3 , 3 0 8 1 3 1 , 7 1 9 1 2 9 , 4 9 5 1 3 5 , 1 3 2 1 3 7 , 0 9 2
Statement of Financial Position Data
Working capital( 9 ) $1 , 4 8 2 $8 3 8 $ 9 3 9 $ 9 0 9 $ 2 , 0 8 9
P ro p e rties — net 5 , 9 1 9 5 , 9 4 7 5 , 9 1 4 5 , 5 0 9 5 , 4 2 2
Total assets 1 4 , 2 1 2 1 4 , 3 7 0 1 4 , 7 3 3 1 3 , 1 4 5 1 4 , 4 3 8
S h o rt - t e rm borro w i n g s 2 , 2 0 6 1 , 1 6 3 1 , 5 1 8 6 1 1 5 4 1
L o n g - t e rm borro w i n g s 1 , 1 6 6 9 3 6 5 0 4 5 8 5 5 5 9
Total shareholders’ equity 3 , 4 2 8 3 , 9 1 2 3 , 9 8 8 3 , 1 6 1 4 , 7 3 4
Supplemental Inform a t i o n
S a l e s — Consumer Imaging $7 , 4 0 6 $7 , 4 1 1 $ 7 , 1 6 4 $ 7 , 6 8 1 $ 7 , 6 5 9
— Kodak Pro f e s s i o n a l 1 , 7 0 6 1 , 9 1 0 1 , 8 4 0 2 , 2 7 2 2 , 3 6 7
— Health Imaging 2 , 1 8 5 2 , 1 2 0 1 , 5 2 6 1 , 5 3 2 1 , 6 2 7
— Other Imaging 2 , 6 9 7 2 , 6 4 8 2 , 8 7 6 3 , 0 5 3 4 , 3 1 5
R e s e a rch and development costs 7 8 4( 2 ) 8 1 7 9 2 2( 4 ) 1 , 2 3 0( 6 ) 1 , 0 2 8
D e p re c i a t i o n 7 3 8 7 7 3 7 3 7 7 4 8 8 3 7
Taxes (excludes payroll, sales and excise taxes) 9 3 3 8 0 6 8 0 9 1 6 4 6 6 3
Wages, salaries and employee benefits 3 , 7 2 6 3 , 9 6 2 4 , 3 0 6 4 , 9 8 5 5 , 1 1 0
Employees at year end
— in the U.S. 4 3 , 2 0 0 4 3 , 3 0 0 4 6 , 3 0 0 5 4 , 8 0 0 5 3 , 4 0 0
— worldwide 7 8 , 4 0 0 8 0 , 6 5 0 8 6 , 2 0 0 9 7 , 5 0 0 9 4 , 8 0 0
( 1 ) Includes charges related to the sale and exit of a manufacturing facility of $50 million, which reduced net earnings by $33 million.
( 2 ) Includes $350 million of re s t ructuring charges, which reduced net earnings by $231 million, and an additional $11 million of charges related to this re s t ructuring pro g r a m ,
which reduced net earnings by $7 million; $103 million of charges associated with business exits, which reduced net earnings by $68 million; a gain of $95 million on the sale
of The Image Bank, which increased net earnings by $63 million; and a gain of $25 million on the sale of the Motion Analysis Systems Division, which increased net earn i n g s
by $16 million.
( 3 ) Includes $35 million of litigation charges, which reduced net earnings by $23 million; $132 million of Office Imaging charges, which reduced net earnings by $87 million;
$45 million primarily for a write-off of in-process R&D associated with the Imation acquisition, which reduced net earnings by $30 million; a gain of $87 million on the s ale of
NanoSystems, which increased net earnings by $57 million; and a gain of $66 million on the sale of part of the Company’s investment in Gretag, which increased net earn i n g s
by $44 million.
( 4 ) Includes a $42 million charge for the write-off of in-process R&D associated with the Imation acquisition.
( 5 ) Includes $1,455 million of re s t ructuring cos ts, asset impairments and other charges, which reduced net earnings by $990 million; $186 million for a write-off of in-pro c e s s
R&D associated with the Wang acquisition, which reduced net earnings by $123 million; and a $46 million litigation charge, which reduced net earnings by $30 million.
( 6 ) Includes a $186 million charge for the write-off of in-process R&D associated with the Wang acquisition.
( 7 ) Includes $358 million of re s t ructuring costs, which reduced net earnings by $256 million, and a $387 million loss related to the sale of the Office Imaging business, which
reduced net earnings by $252 million.
( 8 ) Basic and diluted earnings per share from continuing operations were $3.00 and $2.95, re s p e c t i v e l y.
( 9 ) Excludes short - t e rm borro w i n g s .
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Eastman Kodak Company and Subsidiary Companies
S u m m a ry of Operating Data