American Home Shield 2003 Annual Report Download - page 47

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ServiceMaster    45
Business Segment Table
(In thousands) 2003 % Change 2002 % Change 2001
Operating Revenue:
TruGreen $ 1,347,400 5% $ 1,284,616 0% $ 1,284,136
Terminix 945,258 2 924,384 9 845,453
American Home Shield 450,264 6 423,526 15 368,951
ARS/AMS 673,558 (6) 718,892 (12) 820,177
Other Operations 152,106 2 149,303 N/M 158,094
Total Operating Revenue $ 3,568,586 2% $ 3,500,721 1% $ 3,476,811
Operating Income (Loss):
TruGreen(1) $ (34,017) N/M $ 165,292 12% $ 147,078
Terminix 131,044 3 127,441 23 103,925
American Home Shield 58,154 21 47,890 104 23,512
ARS/AMS(1) (281,777) N/M 17,342 (57) 39,978
Other Operations(2) (39,647) N/M (22,572) N/M (344,893)
Total Operating Income (Loss)(1,2) $ (166,243) N/M $ 335,393 N/M $ (30,400)
Operating Income (Loss) – SFAS 142 Proforma:
TruGreen(1) $ (34,017) N/M $ 165,292 (5%) $ 173,453
Terminix 131,044 3 127,441 4 122,979
American Home Shield 58,154 21 47,890 84 25,993
ARS/AMS(1) (281,777) N/M 17,342 (65) 49,210
Other Operations(2) (39,647) N/M (22,572) N/M (341,582)
Total Operating Income (Loss) –
SFAS 142 Proforma(1,2) $ (166,243) N/M $ 335,393 N/M $ 30,053
Capital Employed:(3)
TruGreen $ 821,412 (16%) $ 979,932 (4%) $ 1,018,223
Terminix 596,535 - 599,433 1 594,970
American Home Shield 134,372 34 100,026 21 82,374
ARS/AMS 86,764 (78) 398,982 (8) 431,756
Other Operations 97,014 27 76,111 (77) 337,734
Total Capital Employed $ 1,736,097 (19%) $ 2,154,484 (13%) $ 2,465,057
Identifiable Assets:
TruGreen $ 911,958 (13%) $ 1,053,099 (1%) $ 1,066,001
Terminix 822,407 (2) 841,437 2 823,333
American Home Shield 422,765 12 376,059 16 323,229
ARS/AMS 185,528 (62) 489,366 (6) 519,026
Other Operations 613,768 (6) 654,977 (26) 889,656
Total Identifiable Assets $ 2,956,426 (13%) $ 3,414,938 (6%) $ 3,621,245
Depreciation & Amortization Expense:
TruGreen $ 22,764 (4%) $ 23,595 (54%) $ 51,247
Terminix 10,328 (7) 11,150 (64) 30,822
American Home Shield 6,829 22 5,583 (26) 7,516
ARS/AMS 8,439 (8) 9,166 (49) 18,048
Other Operations 7,418 9 6,814 (40) 11,277
Total Depreciation & Amortization Expense $ 55,778 (1%) $ 56,308 (53%) $ 118,910
Capital Expenditures:
TruGreen $ 14,197 25% $ 11,317 106% $ 5,504
Terminix 5,169 (70) 17,013 63 10,427
American Home Shield 6,619 38 4,794 (40) 8,033
ARS/AMS 6,160 9 5,658 (20) 7,093
Other Operations 7,098 (67) 21,331 104 10,447
Total Capital Expenditures $ 39,243 (35%) $ 60,113 45% $ 41,504
N/M = Not meaningful
(1) In the third quarter of 2003, the Company recorded a non-cash, pre-tax impairment charge of $481 million related to its goodwill and intangible assets. Approximately $189
million of the charge is associated with the TruGreen LandCare operations reported in the TruGreen segment, and the remaining $292 million relates to the ARS/AMS segment.
(2) In the fourth quarter of 2001, the Company recorded a pre-tax charge of $345 million, related primarily to goodwill and asset impairments as well as other items reported in the
Other Operations segment.
(3) Capital employed represents the segment’s total assets less liabilities (exclusive of debt balances).
Notes to Consolidated Financial Statements