Kodak 2002 Annual Report Download - page 76
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Financials
76
(in millions) 2002 2001 2000
Net earnings from continuing operations
Photography $ 550 $ 535 $ 1,034
Health Imaging 313 221 356
Commercial Imaging 83 84 90
All Other (23) (38) (2)
Total of segments 923 802 1,478
Venture investment impairments
and other asset write-offs (50) (15) —
Restructuring costs and credits
and asset impairments (114) (720) 44
Wolf charge —(77) —
Environmental reserve —(41) —
Kmart charge —(20) —
Interest expense (173) (219) (178)
Other corporate items 14 8 26
Tax benefit - PictureVision
subsidiary closure 45 ——
Tax benefit - Kodak Imagex Japan 46 ——
Income tax effects on above items and
taxes not allocated to segments
102 363 37
Consolidated total $ 793 $ 81 $ 1,407
Operating net assets
Photography $ 5,394 $ 6,288 $ 7,100
Health Imaging 1,123 1,426 1,491
Commercial Imaging 918 1,085 1,045
All Other (138) (219) (92)
Total of segments 7,297 8,580 9,544
LIFO inventory reserve (392) (444) (449)
Cash and marketable securities 577 451 251
Dividends payable —— (128)
Net deferred income tax
(liabilities) and assets 297 97 (4)
Noncurrent other
postretirement liabilities (2,147) (2,180) (2,209)
Other corporate net assets (249) (410) (205)
Consolidated net assets (1) $ 5,383 $ 6,094 $ 6,800
(1) Consolidated net assets are derived from the Consolidated Statement of
Financial Position, as follows:
Total assets $ 13,369 $ 13,362 $ 14,212
Total liabilities 10,592 10,468 10,784
Less: Short-term borrowings and
current portion of long-term debt (1,442) (1,534) (2,206)
Less: Long-term debt, net of
current portion (1,164) (1,666) (1,166)
Non-interest-bearing liabilities 7,986 7,268 7,412
Consolidated net assets $ 5,383 $ 6,094 $ 6,800
(in millions) 2002 2001 2000
Depreciation expense from
continuing operations
Photography $ 634 $ 599 $ 557
Health Imaging 107 96 92
Commercial Imaging 74 69 80
All Other 3 1 9
Consolidated total $ 818 $ 765 $ 738
Goodwill amortization expense
from continuing operations
Photography $ — $ 110 $ 120
Health Imaging —28 27
Commercial Imaging —15 3
All Other —— 1
Consolidated total $ — $ 153 $ 151
Capital additions from
continuing operations
Photography $ 408 $ 555 $ 721
Health Imaging 81 128 120
Commercial Imaging 83 56 98
All Other 5 4 6
Consolidated total $ 577 $ 743 $ 945
Net sales to external
customers attributed to(2):
The United States $ 6,008 $ 6,419 $ 6,800
Europe, Middle East
and Africa 3,363 3,275 3,464
Asia Pacific 2,242 2,215 2,349
Canada and Latin America 1,222 1,320 1,381
Consolidated total $ 12,835 $ 13,229 $ 13,994
(2) Sales are reported in the geographic area in which they originate.
Property, plant and equipment,
net located in:
The United States $ 3,501 $ 3,738 $ 3,913
Europe, Middle East
and Africa 769 672 647
Asia Pacific 943 977 1,056
Canada and Latin America 207 272 303
Consolidated total $ 5,420 $ 5,659 $ 5,919
Consolidated total
Consolidated net assets (1)
Consolidated net assets