Mattel 2001 Annual Report Download - page 47

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Year
2001 2000 1999
(In thousands, except per share amounts)
Net Sales ............................................. $4,804,062 $4,669,942 $4,595,490
Cost of sales ........................................... 2,537,178 2,569,157 2,413,469
Gross Profit ........................................... 2,266,884 2,100,785 2,182,021
Advertising and promotion expenses ......................... 661,504 685,877 684,519
Other selling and administrative expenses ...................... 936,078 966,998 867,955
Restructuring and other charges ............................. 15,700 15,900 281,107
Amortization of intangibles ................................ 51,144 52,000 52,010
Interest expense ......................................... 155,132 152,979 131,609
Other expense (income), net ................................ 17,316 1,607 (5,343)
Income From Continuing Operations Before Income Taxes ...... 430,010 225,424 170,164
Provision for income taxes ................................. 119,090 55,247 61,777
Income From Continuing Operations ....................... 310,920 170,177 108,387
Discontinued Operations (See Note 13)
Loss from discontinued operations ........................... — (601,146) (190,760)
Income (Loss) Before Cumulative Effect of Change in Accounting
Principles ........................................... 310,920 (430,969) (82,373)
Cumulative effect of change in accounting principles, net of tax ..... (12,001) — —
Net Income (Loss) ...................................... 298,919 (430,969) (82,373)
Preferred stock dividend requirements ........................ — — 3,980
Net Income (Loss) Applicable to Common Shares .............. $ 298,919 $ (430,969) $ (86,353)
Basic Income (Loss) Per Common Share
Income from continuing operations .......................... $ 0.72 $ 0.40 $ 0.25
Loss from discontinued operations ........................... — (1.41) (0.46)
Cumulative effect of change in accounting principles ............. (0.03) — —
Net income (loss) ....................................... $ 0.69 $ (1.01) $ (0.21)
Weighted average number of common shares ................... 430,983 426,166 414,186
Diluted Income (Loss) Per Common Share
Income from continuing operations .......................... $ 0.71 $ 0.40 $ 0.25
Loss from discontinued operations ........................... — (1.41) (0.45)
Cumulative effect of change in accounting principles ............. (0.03) — —
Net income (loss) ....................................... $ 0.68 $ (1.01) $ (0.20)
Weighted average number of common and common equivalent
shares .............................................. 436,166 427,126 425,281
Dividends Declared Per Common Share ..................... $ 0.05 $ 0.27 $ 0.35
The accompanying notes are an integral part of these statements.
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