Mattel 2001 Annual Report Download - page 80
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Summary financial information for the discontinued operations is as follows (in millions):
For the Year
2000 1999
Net sales ............................................................. $337.9 $ 919.5
Loss before income taxes ................................................. $(179.6) $(280.9)
Benefit for income taxes ................................................. (53.0) (90.1)
Net loss .......................................................... (126.6) (190.8)
Loss on disposal ....................................................... (406.8) —
Actual and estimated losses during phase-out period ............................. (238.3) —
(645.1) —
Benefit for income taxes ................................................. (170.6) —
Net loss on disposal ................................................. (474.5) —
Total loss from discontinued operations ...................................... $(601.1) $(190.8)
As of Year End
2000
Accounts receivable, net ..................................................... $33.1
Inventories ............................................................... 4.0
Other current assets ......................................................... 1.8
Other noncurrent assets ...................................................... 1.6
Current liabilities .......................................................... (29.0)
Net investment in discontinued operations ........................................ $11.5
Actual losses of the Consumer Software segment from the measurement date of March 31, 2000 as well as
estimated losses through the date of disposal were recorded as part of the loss from discontinued operations for
2000.
Transaction costs of approximately $24 million related to the disposal of the Consumer Software segment,
primarily consisting of royalty commitments and severance, have been accrued as of December 31, 2001 and
are included in accrued liabilities in the consolidated balance sheets.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
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