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Summary of Operating Data
Eastman Kodak Company and Subsidiary Companies |
page 1 of 1   |
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| (Dollar amounts and shares in millions, except per share data) |
2001 |
|
2000 |
|
1999 |
|
1998 |
|
1997 |
|
|
| |
| Net sales |
$ |
13,234 |
|
$ |
13,994 |
|
$ |
14,089 |
|
$ |
13,406 |
|
$ |
14,538 |
|
| Earnings from operations |
|
345 |
|
|
2,214 |
|
|
1,990 |
|
|
1,888 |
|
|
130 |
|
| Net earnings |
|
76 |
(1) |
|
1,407 |
(2) |
|
1,392 |
(3) |
|
1,390 |
(4) |
|
5 |
(6) |
|
| Earnings and Dividends |
| Net earnings |
| -- % of sales |
|
0.6% |
|
|
10.1% |
|
|
9.9% |
|
|
10.4% |
|
|
0.0% |
|
| -- % return on average shareholders' equity |
|
2.4% |
|
|
38.3% |
|
|
35.2% |
|
|
38.9% |
|
|
0.1% |
|
| Basic earnings per share |
|
.26 |
|
|
4.62 |
|
|
4.38 |
|
|
4.30 |
|
|
.01 |
|
| Diluted earnings per share |
|
.26 |
|
|
4.59 |
|
|
4.33 |
|
|
4.24 |
|
|
.01 |
|
| Cash dividends paid |
| -- on common shares |
|
643 |
|
|
545 |
|
|
563 |
|
|
569 |
|
|
567 |
|
| -- per common share |
|
2.21 |
|
|
1.76 |
|
|
1.76 |
|
|
1.76 |
|
|
1.76 |
|
| Common shares outstanding at year end |
|
290.9 |
|
|
290.5 |
|
|
310.4 |
|
|
322.8 |
|
|
323.1 |
|
| Shareholders at year end |
|
91,893 |
|
|
113,308 |
|
|
131,719 |
|
|
129,495 |
|
|
135,132 |
|
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| Statement of Financial Position Data |
| Operational working capital(8) |
$ |
863 |
|
$ |
1,482 |
|
$ |
838 |
|
$ |
939 |
|
$ |
909 |
|
| Working capital |
|
(671) |
|
|
(724) |
|
|
(325) |
|
|
(579) |
|
|
298 |
|
| Property, plant and equipment, net |
|
5,659 |
|
|
5,919 |
|
|
5,947 |
|
|
5,914 |
|
|
5,509 |
|
| Total assets |
|
13,362 |
|
|
14,212 |
|
|
14,370 |
|
|
14,733 |
|
|
13,145 |
|
| Short term borrowings and current portion of long-term debt |
|
1,534 |
|
|
2,206 |
|
|
1,163 |
|
|
1,518 |
|
|
611 |
|
Long term debt, net of current
portion |
|
1,666 |
|
|
1,166 |
|
|
936 |
|
|
504 |
|
|
585 |
|
| Total shareholders' equity |
|
2,894 |
|
|
3,428 |
|
|
3,912 |
|
|
3,988 |
|
|
3,161 |
|
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| Supplemental Information |
| Sales |
| -- Photography |
$ |
9,403 |
|
$ |
10,231 |
|
$ |
10,265 |
|
$ |
10,063 |
|
$ |
10,620 |
|
| -- Health Imaging |
|
2,262 |
|
|
2,220 |
|
|
2,159 |
|
|
1,526 |
|
|
1,532 |
|
| -- Commercial Imaging |
|
1,459 |
|
|
1,417 |
|
|
1,479 |
|
|
1,296 |
|
|
1,740 |
|
| -- All Other |
|
110 |
|
|
126 |
|
|
187 |
|
|
521 |
|
|
646 |
|
| Research & development costs |
|
779 |
|
|
784 |
|
|
817 |
|
|
922 |
(5) |
|
1,230 |
(7) |
| Depreciation |
|
765 |
|
|
738 |
|
|
773 |
|
|
737 |
|
|
748 |
|
| Taxes (excludes payroll, sales and excise taxes) |
|
154 |
|
|
933 |
|
|
806 |
|
|
809 |
|
|
164 |
|
| Wages, salaries and employee benefits |
|
3,824 |
|
|
3,726 |
|
|
3,962 |
|
|
4,306 |
|
|
4,985 |
|
| Employees at year end |
| -- in the U.S. |
|
42,000 |
|
|
43,200 |
|
|
43,300 |
|
|
46,300 |
|
|
54,800 |
|
| -- worldwide |
|
75,100 |
|
|
78,400 |
|
|
80,650 |
|
|
86,200 |
|
|
97,500 |
|
|
| (1) |
Includes $678 million of restructuring charges; $42 million for a charge related to asset impairments associated
with certain of the Company’s photofinishing operations; $15 million for asset impairments related to
venture investments; $41 million for a charge for environmental reserves; $77 million for the Wolf bankruptcy;
a $20 million charge for the Kmart bankruptcy; $18 million of relocation charges related to the sale and exit of
a manufacturing facility; an $11 million tax benefit related to a favorable tax settlement; and a $20 million tax
benefit representing a decline in the year-over-year effective tax rate. These items reduced net earnings by $594 million.
|
| (2) |
Includes accelerated depreciation and relocation charges related to the sale and exit of a manufacturing facility
of $50 million, which reduced net earnings by $33 million.
|
| (3) |
Includes $350 million of restructuring charges, and an additional $11 million of charges related to this restructuring
program; $103 million of charges associated with business exits; a gain of $95 million on the sale of The Image Bank;
and a gain of $25 million on the sale of the Motion Analysis Systems Division. These items reduced net earnings by $227
million.
|
| (4) |
Includes $35 million of litigation charges; $132 million of Office Imaging charges; $45 million primarily for a write-off
of in-process R&D associated with the Imation acquisition; a gain of $87 million on the sale of NanoSystems; and
a gain of $66 million on the sale of part of the Company’s investment in Gretag. These items reduced net earnings
by $39 million.
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| (5) |
Includes a $42 million charge for the write-off of in-process R&D associated with the Imation acquisition.
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| (6) |
Includes $1,455 million of restructuring costs, asset impairments and other charges; $186 million for a write-off
of in-process R&D associated with the Wang acquisition; and a $46 million litigation charge. These items reduced
net earnings by $1,143 million.
|
| (7) |
Includes a $186 million charge for the write-off of in-process R&D associated with the Wang acquisition.
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| (8) |
Excludes short-term borrowings and current portion of long-term debt.
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