Note 18: Subsequent Events
On February 7, 2001, the Company completed its acquisition of substantially all of the imaging businesses of Bell & Howell Company. The purchase price of this stock and asset acquisition was $135 million in cash. The acquired units provide business customers worldwide with maintenance for document imaging components, micrographic-related equipment, supplies, parts and service.
Note 19: Quarterly Sales and Earnings Data—Unaudited
|
| (in millions, except per share data) |
4th Qtr. |
|
3rd Qtr. |
|
2nd Qtr. |
|
1st Qtr. |
|
|
| |
| 2000 Sales |
$ |
3,560 |
|
$ |
3,590 |
|
$ |
3,749 |
|
$ |
3,095 |
|
| Gross profit |
|
1,327 |
|
|
1,603 |
|
|
1,706 |
|
|
1,339 |
|
| Net earnings |
|
194 |
(1) |
|
418 |
(1) |
|
506 |
(1) |
|
289 |
(1) |
| Basic earnings per share(5) |
|
.66 |
|
|
1.37 |
|
|
1.63 |
|
|
.93 |
|
| Diluted earnings per share(5) |
|
.66 |
|
|
1.36 |
|
|
1.62 |
|
|
.93 |
|
|
| 1999 Sales |
$ |
3,799 |
|
$ |
3,580 |
|
$ |
3,610 |
|
$ |
3,100 |
|
| Gross profit |
|
1,654 |
|
|
1,493 |
|
|
1,724 |
|
|
1,231 |
|
| Net earnings |
|
475 |
(2) |
|
235 |
(3) |
|
491 |
|
|
191 |
(4) |
| Basic earnings per share(5) |
|
1.51 |
|
|
.74 |
|
|
1.54 |
|
|
.59 |
|
| Diluted earnings per share(5) |
|
1.50 |
|
|
.73 |
|
|
1.52 |
|
|
.59 |
|
|
| (1) |
Includes charges related to the sale and exit of a manufacturing facility of $11 million, $12 million, $18 million and $9 million, which reduced net earnings
by $7 million, $8 million, $12 million and $6 in the first, second, third and fourth quarters respectively.
|
| (2) |
Includes a gain of $95 million on the sale of The Image Bank, which increased net earnings by $63 million; a gain of $25 million on the sale of the Motion Analysis
System Division, which increased net earnings by $16 million; and $11 million of charges related to the sale and exit of a manufacturing facility, which reduced net earnings by $7 million.
|
| (3) |
Includes $350 million of restructuring costs, which reduced net earnings by $231 million.
|
| (4) |
Includes $103 million of charges associated with business exits, which reduced earnings by $68 million.
|
| (5) |
Each quarter is calculated as a discrete period and the sum of the four quarters may not equal the full year amount.
|
|
|
| |
|
|
