E-Z-GO 2001 Annual Report Download - page 36

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For each of the years in the three-year period ended December 29, 2001
(In millions except per share amounts) 2001 2000 1999
Revenues
Manufacturing revenues $11,612 $12,399 $11,391
Finance revenues 709 691 463
Total revenues 12,321 13,090 11,854
Costs, expenses and other
Cost of sales 9,760 10,028 9,242
Selling and administrative 1,532 1,445 1,318
Interest, net 433 486 233
Provision for losses on finance receivables 82 37 32
Special charges, net 437 483 (1)
Gains on sale of divisions (342) ––
Total costs, expenses and other 11,902 12,479 10,824
Income from continuing operations before income taxes and
distributions on preferred securities of subsidiary trusts 419 611 1,030
Income taxes (227) (308) (381)
Distributions on preferred securities of subsidiary trusts, net of income taxes (26) (26) (26)
Income from continuing operations 166 277 623
Gain on disposal of discontinued operations, net of income taxes ––1,646
Income before extraordinary loss and
cumulative effect of change in accounting principle 166 277 2,269
Extraordinary loss from debt retirement, net of income taxes ––(43)
Cumulative effect of change in accounting principle, net of income taxes –(59) –
Net income $166 $218 $ 2,226
Per common share:
Basic:
Income from continuing operations $ 1.17 $1.92 $ 4.14
Discontinued operations, net of income taxes ––10.94
Extraordinary loss from debt retirement, net of income taxes ––(.28)
Cumulative effect of change in accounting principle, net of income taxes –(.41) –
Net income $1.17 $1.51 $ 14.80
Diluted:
Income from continuing operations $ 1.16 $1.90 $ 4.05
Discontinued operations, net of income taxes ––10.70
Extraordinary loss from debt retirement, net of income taxes ––(.27)
Cumulative effect of change in accounting principle, net of income taxes –(.41) –
Net income $1.16 $1.49 $ 14.48
See notes to the consolidated financial statements.
Consolidated Statements of Income
34 Textron Annual Report