EMC 2003 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2003 EMC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

70
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATMENTS
The following is a reconciliation of reported net loss to adjusted net loss and reported loss per share to adjusted loss per share had FAS No. 142 been in
effect for 2001 (table in thousands, except per share amounts):
Year Ended
December 31,
2001
Net loss $ (507,712)
Add back: Impact of goodwill amortization, net of tax benefit of $4,468 47,921
Adjusted net loss $ (459,791)
Net loss per share, basic $ (0.23)
Add back: Impact of goodwill amortization, net of taxes 0.02
Adjusted net loss per share, basic $ (0.21)
Net loss per share, diluted $ (0.23)
Add back: Impact of goodwill amortization, net of taxes 0.02
Adjusted net loss per share, diluted $ (0.21)
Intangible assets, excluding goodwill as of December 31, 2003 and 2002, consist of (tables in thousands):
2003
Category
Gross Carrying
Amount
Accumulated
Amortization
Net Book
Value
Purchased technology $ 271,623 $ (88,166) $183,457
Patents 61,857 (56,368) 5,489
Software licenses 34,688 (1,115) 33,573
Trademarks and tradenames 20,174 (8,398) 11,776
Customer relationships and customer lists 244,854 (6,643) 238,211
Other 3,200 (411) 2,789
Total intangible assets, excluding goodwill $ 636,396 $ (161,101) $475,295
2002
Category
Gross Carrying
Amount
Accumulated
Amortization
Net Book
Value
Purchased technology $ 117,852 $ (66,960) $50,892
Patents 61,857 (47,658) 14,199
Trademarks and tradenames 10,000 (6,666) 3,334
Customer relationships and customer lists 4,684 (4,684) –
Other 1,900 (119) 1,781
Total intangible assets, excluding goodwill $ 196,293 $ (126,087) $70,206
71
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATMENTS
Amortization expense on intangibles was $37.2 million, $27.9 million and $86.0 million in 2003, 2002 and 2001, respectively. The 2001 amount
included amortization of goodwill. As of December 31, 2003, amortization expense on existing intangibles for the next five years was as follows (table in
thousands):
2004 $ 81,241
2005 92,802
2006 86,582
2007 62,030
2008 50,634
Total $ 373,289