Xerox 2002 Annual Report Download - page 11

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9
10 Management’s Discussion and
Analysis of Results of Operations and
Financial Condition
10 Introduction
10 Financial Overview
11 Application of Critical Accounting Policies
17 Summary of Total Company Results
17 Revenues
17 Revenues by Type
19 Employee Stock Ownership Plan Dividends
19 Gross Margin
20 Research and Development
20 Selling, Administrative and General Expenses
21 Restructuring Programs
22 Other Expenses, Net
23 Gain on Affiliate’s Sale of Stock
23 Income Taxes
24 Equity in Net Income of
Unconsolidated Affiliates
24 Minorities’ Interests in Earnings of
Subsidiaries
24 Acquisitions
24 Business Performance by Segment
27 New Accounting Standards
28 Capital Resources and Liquidity
28 Cash Flow Analysis
29 Capital Structure and Liquidity
30 Liquidity, Financial Flexibility and Funding Plans
34 Contractual Cash Obligations and Other
Commercial Commitments and Contingencies
35 Other Funding Arrangements
36 Financial Risk Management
37 Forward-Looking Cautionary Statements
38 Audited Consolidated Financial Statements
38 Consolidated Statements of Income
39 Consolidated Balance Sheets
40 Consolidated Statements of Cash Flows
41 Consolidated Statements of
Common Shareholders’ Equity
42 Notes to the Consolidated Financial Statements
42 1. Summary of Significant Accounting Policies
51 2. Restructuring Programs
55 3. Acquisitions
55 4. Divestitures and Other Sales
57 5. Receivables, Net
59 6. Inventories and Equipment on
Operating Leases, Net
59 7. Land, Buildings and Equipment, Net
60 8. Investments in Affiliates, at Equity
61 9. Segment Reporting
64 10. Net Investment in Discontinued Operations
65 11. Debt
68 12. Financial Instruments
71 13. Employee Benefit Plans
73 14. Income and Other Taxes
75 15. Litigation, Regulatory Matters and
Other Contingencies
82 16. Preferred Securities
84 17. Common Stock
85 18. Earnings Per Share
87 19. Financial Statements of
Subsidiary Guarantors
93 Report of Management
93 Report of Independent Accountants
94 Other Data
94 Quarterly Results of Operations
95 Five Years in Review
96 Certifications
Index to Annual Report