| |
| (Dollar amounts and shares in millions, except per share data) |
2000 |
|
1999 |
|
1998 |
|
1997 |
|
1996 |
|
|
| |
| Sales from continuing operations |
$ |
13,994 |
|
$ |
14,089 |
|
$ |
13,406 |
|
$ |
14,538 |
|
$ |
15,968 |
|
| Earnings from operations |
|
2,214 |
|
|
1,990 |
|
|
1,888 |
|
|
130 |
|
|
1,845 |
|
| Earnings from continuing operations after tax |
|
1,407 |
(1) |
|
1,392 |
(2) |
|
1,390 |
(3) |
|
5 |
(5) |
|
1,011 |
(7) |
| Earnings from discontinued operations after tax |
|
-- |
|
|
-- |
|
|
-- |
|
|
-- |
|
|
277 |
|
| Net earnings |
|
1,407 |
(1) |
|
1,392 |
(2) |
|
1,390 |
(3) |
|
5 |
(5) |
|
1,288 |
(7) |
|
| Earnings and Dividends |
| Net earnings |
| --% of sales |
|
10.1% |
|
|
9.9% |
|
|
10.4% |
|
|
0.0% |
|
|
8.1% |
|
| --% of return on average shareholders' equity |
|
38.3% |
|
|
35.2% |
|
|
38.9% |
|
|
0.1% |
|
|
26.1% |
|
| Basic earnings per share |
|
4.62 |
|
|
4.38 |
|
|
4.30 |
|
|
.01 |
|
|
3.82 |
(8) |
| Diluted earnings per share |
|
4.59 |
|
|
4.33 |
|
|
4.24 |
|
|
.01 |
|
|
3.76 |
(8) |
| Cash dividends declared |
| -- on common shares |
|
533 |
|
|
560 |
|
|
570 |
|
|
577 |
|
|
539 |
|
| -- per common share |
|
1.76 |
|
|
1.76 |
|
|
1.76 |
|
|
1.76 |
|
|
1.60 |
|
| Common shares outstanding at year end |
|
290.5 |
|
|
310.4 |
|
|
322.8 |
|
|
323.1 |
|
|
331.8 |
|
| Shareholders at year end |
|
113,308 |
|
|
131,709 |
|
|
129,495 |
|
|
135,132 |
|
|
137,092 |
|
|
| Statement of Financial Position Data |
| Working capital(9) |
$ |
1,482 |
|
$ |
838 |
|
$ |
939 |
|
$ |
909 |
|
$ |
2,089 |
|
| Properties -- net |
|
5,919 |
|
|
5,947 |
|
|
5,914 |
|
|
5,509 |
|
|
5,422 |
|
| Total assets |
|
14,212 |
|
|
14,370 |
|
|
14,733 |
|
|
13,145 |
|
|
14,438 |
|
| Short term borrowings |
|
2,206 |
|
|
1,163 |
|
|
1,518 |
|
|
611 |
|
|
541 |
|
| Long term borrowings |
|
1,166 |
|
|
936 |
|
|
504 |
|
|
585 |
|
|
559 |
|
| Total shareholders' equity |
|
3,428 |
|
|
3,912 |
|
|
3,988 |
|
|
3,161 |
|
|
4,734 |
|
|
| Supplemental Information |
| Sales |
| -- Consumer Imaging |
$ |
7,406 |
|
$ |
7,411 |
|
$ |
7,164 |
|
$ |
7,681 |
|
$ |
7,659 |
|
| -- Kodak Professional |
|
1,706 |
|
|
1,910 |
|
|
1,840 |
|
|
2,272 |
|
|
2,367 |
|
| -- Health Imaging |
|
2,185 |
|
|
2,120 |
|
|
1,526 |
|
|
1,532 |
|
|
1,627 |
|
| -- Other Imaging |
|
2,697 |
|
|
2,648 |
|
|
2,876 |
|
|
3,053 |
|
|
4,315 |
|
| Research & development costs |
|
784 |
|
|
817 |
|
|
922 |
(4) |
|
1,230 |
(6) |
|
1,028 |
|
| Depreciation |
|
738 |
|
|
773 |
|
|
737 |
|
|
748 |
|
|
837 |
|
| Taxes (excludes payroll, sales & excise taxes) |
|
933 |
|
|
806 |
|
|
809 |
|
|
164 |
|
|
663 |
|
| Wages, salaries & employee benefits |
|
3,726 |
|
|
3,962 |
|
|
4,306 |
|
|
4,985 |
|
|
5,110 |
|
| Employees at year end |
| --in the US |
|
43,200 |
|
|
43,300 |
|
|
46,300 |
|
|
54,800 |
|
|
53,400 |
|
| --worldwide |
|
78,400 |
|
|
80,650 |
|
|
86,200 |
|
|
97,500 |
|
|
94,800 |
|
|
| (1) |
Includes charges related to the sale and exit of a manufacturing facility of $50 million, which reduced net earnings by $33 million.
|
| (2) |
Includes $350 million of restructuring charges, which reduced net earnings by $231 million, and an additional $11 million of charges related to this restructuring program, which reduced net earnings by $7 million; $103 million of charges associated with business exits, which reduced net earnings by $68 million; a gain of $95 million on the sale of The Image Bank, which increased net earnings by $63 million; and a gain of $25 million on the sale of the Motion Analysis Systems Division, which increased net earnings by $16 million.
|
| (3) |
Includes $35 million of litigation charges, which reduced net earnings by $23 million; $132 million of Office Imaging charges, which reduced net earnings by $87 million;
$45 million primarily for a write-off of in-process R&D associated with the Imation acquisition, which reduced net earnings by $30 million; a gain of $87 million on the sale of NanoSystems, which increased net earnings by $57 million; and a gain of $66 million on the sale of part of the Company’s investment in Gretag, which increased net earnings by $44 million.
|
| (4) |
Includes a $42 million charge for the write-off of in-process R&D associated with the Imation acquisition.
|
| (5) |
Includes $1,455 million of restructuring costs, asset impairments and other charges, which reduced net earnings by $990 million; $186 million as a write-off of in-process R&D associated with the Wang acquisition, which reduced net earnings by $123 million; and a $46 million litigation charge, which reduced net earnings by $30 million.
|
| (6) |
Includes a $186 million charge for the write-off of in-process R&D associated with the Wang acquisition.
|
| (7) |
Includes $358 million of restructuring costs, which reduced net earnings by $256 million, and a $387 million loss related to the sale of the Office Imaging business, which reduced net earnings by $252 million.
|
| (8) |
Basic and diluted earnings per share from continuing operations were $3.00 and $2.95, respectively.
|
| (9) |
Excludes short-term borrowings.
|
|
|
| |
|
|
