AutoNation 2001 Annual Report Download - page 77

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2001 2000 1999
---------- ---------- --------------------------------
AUTOMOTIVE AUTOMOTIVE AUTOMOTIVE SOLID
RENTAL RENTAL RENTAL WASTE TOTAL
---------- ---------- ---------- ------ --------
Revenue....................................... $ -- $1,721.1 $3,542.3 $552.5 $4,094.8
====== ======== ======== ====== ========
Pre-tax income................................ (20.0) (14.8) (88.2)(1) 100.8 12.6
Provision (benefit) for income taxes.......... (7.3) (5.8) (18.8) 38.8 20.0
Extraordinary charge, net of income taxes..... -- -- 1.6 -- 1.6
Minority interest in RSG...................... -- -- -- 21.6 21.6
------ -------- -------- ------ --------
Net income (loss)............................. (12.7) (9.0) (71.0) 40.4 (30.6)
Previously estimated and accrued losses....... -- 22.1 -- -- --
------ -------- -------- ------ --------
Income (loss) from discontinued operations.... $(12.7) $ 13.1 $ (71.0) $ 40.4 $ (30.6)
====== ======== ======== ====== ========
---------------
(1) Includes pre-tax restructuring and other charges of $40.5 million in 1999
primarily related to ANC Rental's consolidation of its North American
operations and other restructuring activities.
70
AUTONATION, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
17. OTHER COMPREHENSIVE INCOME (LOSS)
The changes in the components of other comprehensive income (loss), net of
income taxes, are as follows for the years ended December 31:
2001 2000 1999
------------------------- ------------------------- -------------------------
PRE-TAX TAX NET PRE-TAX TAX NET PRE-TAX TAX NET
AMOUNT EFFECT AMOUNT AMOUNT EFFECT AMOUNT AMOUNT EFFECT AMOUNT
------- ------ ------ ------- ------ ------ ------- ------ ------
Foreign currency translation adjustments(1)... $ -- $ -- $ -- $ 6.4 $ -- $ 6.4 $ (1.9) $ -- $(1.9)
Unrealized gains (losses) on restricted
investments, marketable securities and
interest-only strips........................ (50.9) 19.8 (31.1) (14.2) 5.3 (8.9) 23.1 (8.3) 14.8
Reclassification of realized losses (gains)... 51.8 (20.1) 31.7 (7.1) 4.0 (3.1) (3.0) 1.0 (2.0)
------ ------ ------ ------ ---- ----- ------ ----- -----
Other comprehensive income (loss)............. $ .9 $ (.3) $ .6 $(14.9) $9.3 $(5.6) $ 18.2 $(7.3) $10.9
====== ====== ====== ====== ==== ===== ====== ===== =====
---------------
(1) Foreign currency translation adjustments relate to the Company's former
automotive rental businesses.
Accumulated other comprehensive income (loss) in the accompanying
Consolidated Statements of Shareholders' Equity and Comprehensive Income (Loss)
consists of unrealized gains on restricted investments, marketable securities
and interest-only strips of $1.6 million and $1.0 million at December 31, 2001
and 2000, respectively
18. ACQUISITIONS AND DIVESTITURES
Businesses acquired through December 31, 2001 and accounted for under the
purchase method of accounting are included in the Consolidated Financial
Statements from the date of acquisition.
During the years ended December 31, 2001, 2000 and 1999, the Company
acquired various automotive retail businesses. The Company paid approximately
$69.7 million, $190.9 million and $879.1 million, respectively, in cash for
these acquisitions, all of which were accounted for under the purchase method of