Equifax 2002 Annual Report Download - page 42

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CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
Year Ended December 31 2002 2001 2000
Operating revenue $1,109.3 $1,139.0 $1,189.2
Costs and expenses:
Costs of services 427.6 451.0 513.2
Selling, general and administrative expenses 249.9 267.6 261.2
Depreciation 12.9 17.1 21.9
Amortization 67.6 63.7 59.9
Goodwill amortization (Note 1) –25.4 24.4
Restructuring and impairment charges (Note 5) –60.4 –
Total costs and expenses 758.0 885.2 880.6
Operating income 351.3 253.8 308.6
Other income (expense), net 6.8 (1.2) 3.7
Minority interest in earnings, net of tax (2.0) (2.2) (7.1)
Interest expense (41.2) (47.8) (55.8)
Income from continuing operations before income taxes 314.9 202.6 249.4
Provision for income taxes (123.6) (85.3) (108.3)
Income from continuing operations 191.3 117.3 141.1
Discontinued operations (Note 2):
(Loss) income from discontinued operations, net of income tax (benefit) expense
of ($2.2), $21.4, and $49.1, respectively (13.3) 33.6 86.9
Costs associated with effecting the spin-off, net of income tax benefit of $8.1 –(28.4) –
Total discontinued operations (13.3) 5.2 86.9
Net income $178.0 $122.5 $ 228.0
Per common share (basic):
Income from continuing operations $1.41 $0.86 $ 1.05
Discontinued operations (0.10) 0.04 0.65
Net income $1.31 $0.90 $ 1.70
Shares used in computing basic earnings per share 136.2 136.8 134.4
Per common share (diluted):
Income from continuing operations $1.38 $0.84 $ 1.04
Discontinued operations (0.10) 0.04 0.64
Net income $1.29 $0.88 $ 1.68
Shares used in computing diluted earnings per share 138.5 139.0 136.0
Dividends per common share $0.080 $0.225 $ 0.370
See Notes to Consolidated Financial Statements.
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