(Dollar amounts and shares in millions, except per share data)
2002 (1)
2001 (2)
Stock price per share at year end
$
35.04
$
29.43
Net sales from continuing operations
$
12,835
$
13,229
Earnings from continuing operations before interest, other charges and income taxes
$
1,220
$
352
Earnings from continuing operations
$
793
$
81
Loss from discontinued operations
$
(23)
$
(5)
Net earnings
$
770
$
76
Basic and diluted net earnings (loss) per share
Continuing operations
$
2.72
$
.28
Discontinued operations
$
(.08)
$
(.02)
Total
$
2.64
$
.26
Cash dividends paid
$
525
$
643
-per common share
$
1.80
$
2.21
Average number of common shares outstanding
291.5
290.6
Shareholders at year end
89,988
91,893
Total shareholders' equity
$
2,777
$
2,894
Additions to properties
$
577
$
743
Depreciation
$
818
$
765
Wages, salaries and employee benefits
$
3,991
$
3,824
Employees at year end
-in the U.S.
39,000
42,000
-worldwide
70,000
75,100
(1) Results for the year included $143 million of restructuring charges; $29 million reversal of restructuring charges; $50 million for a charge related to asset
impairments and other asset write-offs; $38 million of losses related to the discontinued operations of Kodak Global Imaging, Inc. (KGII) and Sterling Winthrop Inc.;
and a $121 million tax benefit relating to the closure of the Company's PictureVision subsidiary, the consolidation of the Company's photofinishing operations in
Japan, asset write-offs and a change in the corporate tax rate. The after-tax impact of these items was $17 million. Excluding these items, net earnings were $787
million. Basic and diluted earnings per share were $2.70.
(2) Results for the year included $678 million of restructuring charges; a $42 million charge related to asset impairments associated with certain of the Company’s
photofinishing operations; a $15 million charge for asset impairments related to venture investments; a $41 million charge for environmental reserves; a $77 million
charge 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 in 2000; $7 million of losses related to the discontinued operations of KGII; 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. The after-tax impact of these items was $599 million. Excluding these items, net
earnings were $675 million. Basic and diluted earnings per share were $2.32.
