E-Z-GO 2003 Annual Report Download - page 71

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(Unaudited) 2002
(Dollars in millions except per share amounts) Q4 Q3 Q2 Q1
Bell $675$521$616$536 $625$526$593$491
Cessna 620 516 575 588 896 745 857 677
Fastening Systems 457 404 447 429 412 411 431 396
Industrial 793 654 750 706 701 647 705 653
Finance 154 136 142 140 171 146 136 131
Total revenues $ 2,699 $ 2,231 $ 2,530 $ 2,399 $ 2,805 $ 2,475 $ 2,722 $ 2,348
Bell $ 69 $ 69 $ 56 $ 40 $ 67 $ 33 $ 45 $ 24
Cessna 43 31 66 59 94 84 121 77
Fastening Systems 17 10 21 18 20 21 21 10
Industrial 44 23 40 34 55 36 32 40
Finance 52 24 23 23 50 20 28 20
225 157 206 174 286 194 247 171
Special charges (65) (42) (24) (28) (68) (33) (20) (14)
Total segment operating income 160 115 182 146 218 161 227 157
Gain on sale of businesses — — — 15 — — 25 —
Corporate expenses and other, net (38) (19) (30) (32) (28) (26) (31) (29)
Interest expense, net (26) (26) (22) (24) (23) (30) (25) (30)
Income taxes (13) (23) (38) (33) (50) (22) (70) (31)
Distribution on preferred securities
of manufacturing subsidiary trust,
net of income taxes — — (7) (6) (7) (6) (7) (6)
83 47 85 66 110 77 119 61
(Loss) income from discontinued operations,
net of income taxes — — (22) — 21 (6) (14) (4)
Income before cumulative effect of change
in accounting principle 83 47 63 66 131 71 105 57
Cumulative effect of change in accounting
principle, net of income taxes* ———— ———(488)
Net income (loss) $ 83 $ 47 $ 63 $ 66 $ 131 $ 71 $ 105 $ (431)
Income from continuing operations $ .61 $ .35 $ .63 $ .49 $ .80 $ .56 $ .85 $ .44
(Loss) income from discontinued operations — — (.16) (.01) .15 (.04) (.10) (.03)
Cumulative effect of change in accounting
principle, net of income taxes ———— ———(3.48)
Net income (loss) $ .61 $ .35 $ .47 $ .48 $ .95 $ .52 $ .75 $ (3.07)
Average shares outstanding (in thousands) 136,335 135,627 135,380 135,991 137,173 137,848 139,486 140,403
Income from continuing operations $ .60 $ .34 $ .62 $ .49 $ .80 $ .55 $ .85 $ .43
(Loss) income from discontinued operations — — (.16) (.01) .15 (.04) (.11) (.03)
Cumulative effect of change in accounting
principle, net of income taxes ———— ———(3.44)
Net income (loss) $ .60 $ .34 $ .46 $ .48 $ .95 $ .51 $ .74 $ (3.04)
Average shares outstanding (in thousands) 138,326 136,828 136,257 137,059 138,362 139,145 141,599 141,961
Bell 10.2% 13.2% 9.1% 7.5% 10.7% 6.3% 7.6% 4.9%
Cessna 6.9 6.0 11.5 10.0 10.5 11.3 14.1 11.4
Fastening Systems 3.7 2.5 4.7 4.2 4.9 5.1 4.9 2.5
Industrial 5.5 3.5 5.3 4.8 7.8 5.6 4.5 6.1
Finance 33.8 17.6 16.2 16.4 29.2 13.7 20.6 15.3
8.3 7.0 8.1 7.3 10.2 7.8 9.1 7.3
Price range: High $57.70 $45.53 $38.69 $45.45 $44.92 $45.81 $53.17 $51.10
Low $39.45 $38.07 $27.46 $26.85 $32.49 $34.41 $44.60 $38.98
Dividends per share $ .325 $ .325 $ .325 $ .325 $ .325 $ .325 $ .325 $ .325
* Represents transitional goodwill impairment charge taken in the second quarter 2002 and retroactively recorded in the first quarter 2002 as permitted. See Note 7 to consolidated
financial statements.
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