E-Z-GO 2002 Annual Report Download - page 38

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Consolidated Statements of Operations
For each of the years in the three-year period ended December 28, 2002
(In millions, except per share amounts) 2002 2001 2000
Revenues
Manufacturing revenues $ 10,028 $ 11,612 $ 12,399
Finance revenues 630 709 691
Total revenues 10,658 12,321 13,090
Costs, expenses and other
Cost of sales 8,221 9,760 10,028
Selling and administrative 1,382 1,532 1,445
Interest, net 304 433 486
Provision for losses on finance receivables 138 82 37
Special charges 128 437 483
Gain on sale of businesses, net (5) (342) —
Total costs, expenses and other 10,168 11,902 12,479
Income from operations before income taxes and
distributions on preferred securities of subsidiary trusts 490 419 611
Income taxes (100) (227) (308)
Distributions on preferred securities of subsidiary trusts, net of
income taxes (26) (26) (26)
Income before cumulative effect of change in accounting principle 364 166 277
Cumulative effect of change in accounting principle, net of
income taxes (488) — (59)
Net income (loss) $(124) $ 166 $ 218
Per common share:
Basic:
Income before cumulative effect of change in accounting principle $ 2.62 $ 1.17 $ 1.92
Cumulative effect of change in accounting principle, net of
income taxes (3.52) — (.41)
Net income (loss) $(.90) $ 1.17 $ 1.51
Diluted:
Income before cumulative effect of change in accounting principle $ 2.60 $ 1.16 $ 1.90
Cumulative effect of change in accounting principle, net of
income taxes (3.48) — (.41)
Net income (loss) $(.88) $ 1.16 $ 1.49
See notes to the consolidated financial statements.
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