Kodak 2002 Annual Report Download - page 40

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Financials
40
Eastman Kodak Company and Subsidiary Companies
Consolidated Statement of Earnings
For the Year Ended December 31
(in millions, except per share data) 2002 2001 2000
Net sales $ 12,835 $ 13,229 $ 13,994
Cost of goods sold 8,225 8,661 8,375
Gross profit 4,610 4,568 5,619
Selling, general and administrative expenses 2,530 2,625 2,514
Research and development costs 762 779 784
Goodwill amortization — 153 151
Restructuring costs (credits) and other 98 659 (44)
Earnings from continuing operations before interest,
other (charges) income, and income taxes 1,220 352 2,214
Interest expense 173 219 178
Other (charges) income (101) (18) 96
Earnings from continuing operations
before income taxes 946 115 2,132
Provision for income taxes 153 34 725
Earnings from continuing operations $ 793 $ 81 $ 1,407
Loss from discontinued operations, net of income tax benefits
of $15, $2 and $0 for the years ending
December 31, 2002, 2001 and 2000, respectively $ (23) $ (5) $ —
Net earnings $ 770 $ 76 $ 1,407
Basic net earnings (loss) per share
Continuing operations $ 2.72 $ .28 $ 4.62
Discontinued operations (.08) (.02) —
Total $ 2.64 $ .26 $ 4.62
Diluted net earnings (loss) per share
Continuing operations $ 2.72 $ .28 $ 4.59
Discontinued operations (.08) (.02) —
Total $ 2.64 $ .26 $ 4.59
Number of common shares used in basic earnings per share 291.5 290.6 304.9
Incremental shares from assumed conversion of options 0.2 0.4 1.7
Number of common shares used in diluted earnings per share 291.7 291.0 306.6
Cash dividends per share $ 1.80 $ 2.21 $ 1.76
The accompanying notes are an integral part of these consolidated financial statements.
For the Year Ended December 31