Motorola 2001 Annual Report Download - page 33

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MOTOROLA, INC. AND SUBSIDIARIES 31
Five-year financial summary
Operating results
Net sales $30,004 $37,580 $33,075 $31,340 $31,498
Manufacturing and other costs of sales ÷21,445 ÷23,628 20,631 19,396 18,532
Selling, general and administrative expenses ÷3,703 ÷5,141 5,220 5,807 5,443
Research and development expenditures 4,318 ÷4,437 3,560 3,118 2,930
Depreciation expense ÷2,357 ÷2,352 2,243 2,255 2,394
Reorganization of businesses ÷1,858 ÷596 (226) 1,980 327
Other charges ÷3,328 ÷517 1,406 109 –
Interest expense, net ÷437 ÷248 138 215 136
Gains on sales of investments and businesses ÷(1,931) ÷(1,570) (1,180)) (260) (70)
Total costs and expenses ÷35,515 ÷35,349 31,792 32,620 29,692
Earnings (loss) before income taxes ÷(5,511) ÷2,231 1,283 (1,280) 1,806
Income tax provision ÷(1,574) ÷913 392 (373) 642
Net earnings (loss) $«(3,937) $««1,318 $«««÷891 $««««(907) $««1,164
Net earnings (loss) as a percent of sales ÷(13.1) % ÷3.5% 2.7% (2.9) % 3.7%
Per share data (in dollars)
Diluted earnings (loss) per common share $«««(1.78) $««««0.58 $««««0.41 $«««(0.44) $««««0.56
Diluted weighted average common
shares outstanding (in millions) ÷2,213.3 ÷2,256.6 2,202.0 2,071.1 2,091.2
Dividends declared1$÷««0.16 $««÷0.16 $««÷0.16 $««÷0.16 $««÷0.16
Balance sheet
Total assets $33,398 $42,343 $40,489 $30,951 $28,954
Working capital ÷7,451 ÷3,628 4,679 2,532 4,597
Long-term debt and redeemable
preferred securities ÷8,857 ÷4,778 3,573 2,633 2,144
Total debt and redeemable
preferred securities ÷9,727 ÷11,169 6,077 5,542 3,426
Total stockholders’ equity $13,691 $18,612 $18,693 $13,913 $14,487
Other data
Current ratio ÷1.77 ÷1.22 1.36 1.21 1.49
Return on average invested capital (18.0) % 6.3% 5.3% (5.4) % 7.7%
Return on average stockholders’ equity (24.8) %÷ 6.6% 5.7% (6.5) % 8.5%
Capital expenditures $««1,321 $««4,131 $««2,856 $««3,313 $««2,954
% to sales ÷4.4 % 11.0% 8.6% 10.6 % 9.4%
Research and development expenditures $««4,318 $««4,437 $««3,560 $««3,118 $««2,930
% to sales ÷14.4 % ÷11.8% ÷10.8% 9.9 % 9.3%
Year-end employment (in thousands) ÷111 ÷147 128 141 158
1Dividends declared from 1997 to 1999 were on Motorola shares outstanding prior to the General Instrument merger.
Dollars in millions, except as noted Years ended December 31 2001 2000 1999 1998 1997