E-Z-GO 2001 Annual Report Download - page 63

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(Dollars in millions except w here otherw ise noted and per share amounts) 2001 2000 1999 1998 1997
Revenues
Aircraft $4,664 $4,394 $ 4,019 $ 3,380 $ 3,217
Automotive 2,601 2,924 2,868 2,356 2,072
Fastening Systems 1,679 1,996 2,059 1,758 1,498
Industrial Products 2,668 3,085 2,445 2,013 1,738
Finance 709 691 463 367 350
Total revenues $12,321 $13,090 $ 11,854 $ 9,874 $ 8,875
Segment profit
Aircraft $311 $451 $ 362 $ 338 $ 313
Automotive 158 244 220 171 141
Fastening Systems 46 175 188 186 167
Industrial Products 120 350 303 232 188
Finance 193 190 128 113 108
Total segment profit 828 1,410 1,201 1,040 917
Special charges, net (437) (483) 1 (87) –
Total segment operating income 391 927 1,202 953 917
Gains on sale of divisions 342 ––97–
Corporate expenses and other, net (152) (164) (143) (141) (152)
Interest expense, net (162) (152) (29) (146) (117)
Income taxes (227) (308) (381) (294) (250)
Distributions on preferred securities of manufacturing
subsidiary trust, net of income taxes (26) (26) (26) (26) (26)
Income from continuing operations*$166 $277 $ 623 $ 443 $ 372
Per share of common stock
Income from continuing operations – basic *$1.17 $1.92 $ 4.14 $ 2.74 $ 2.25
Income from continuing operations – diluted *$1.16 $1.90 $ 4.05 $ 2.68 $ 2.19
Dividends declared $1.30 $1.30 $ 1.30 $ 1.14 $ 1.00
Book value at year-end $27.76 $28.24 $ 29.67 $ 19.27 $ 19.78
Common stock price: High $59.89 $74.94 $ 97.00 $ 80.31 $ 70.75
Low $31.65 $41.44 $ 68.44 $ 52.06 $ 45.00
Year-end $42.40 $46.50 $ 76.69 $ 75.94 $ 62.63
Common shares outstanding (in thousands):
Basic average 141,050 143,923 150,389 161,254 164,830
Diluted average * * 142,937 146,150 153,754 165,374 169,503
Year-end 141,251 140,933 147,002 154,742 167,315
Financial position
Total assets $16,052 $16,370 $16,393 $ 13,721 $ 11,330
Debt:
Textron M anufacturing $1,934 $2,084 $ 1,767 $ 2,615 $ 1,221
Textron Finance $4,188 $4,667 $ 4,551 $ 2,829 $ 2,365
Obligated mandatorily redeemable preferred
securities of subsidiary trusts:
Textron M anufacturing $485 $484 $ 483 $ 483 $ 483
Textron Finance $28$28$29$–$–
Shareholders’ equity $3,934 $3,994 $ 4,377 $ 2,997 $ 3,228
Textron M anufacturing debt to total capital (net of cash) 28)%29)% 25)% 43)% 24)%
Investment data
Capital expenditures $532 $527 $ 532 $ 475 $ 374
Depreciation $400 $382 $ 349 $ 292 $ 254
Research and development $689 $721 $ 670 $ 613 $ 602
Other data
Number of employees at year-end 51,000 71,000 68,000 64,000 56,000
Number of common shareholders at year-end 21,000 21,000 22,000 23,000 24,000
*Before cumulative effect of a change in accounting principle in 2000.
* * Assumes full conversion of outstanding preferred stock and exercise of stock options.
Selected Financial Information
Textron Annual Report 61