Filter
Top Products
Supplemental Consolidating Statements of Operations for the year ended December 31, 2002:
F-86
Nortel Nortel Non-
Networks Networks Guarantor Guarantor
(millions of U.S. dollars) Corporation Limited Subsidiaries Subsidiaries Eliminations Total
Revenues $
–
$ 3,026 $ 8,557 $ 2,737 $ (3,312) $ 11,008
Cost of revenues – 2,720 5,433 2,262 (3,312) 7,103
Gross
p
rofit
–
306 3,124 475 – 3,905
Selling, general and administrative expense 4 593 1,647 309 – 2,553
Research and development expense – 870 937 276 – 2,083
Amortization of acquired technology and other – – 20 137 – 157
Deferred stock option compensation – – – 110 – 110
Special charges
Goodwill impairment – – 203 392 – 595
Other special charges – 346 834 320 – 1,500
(Gain) loss on sale of businesses and assets – 16 (8) (29) – (21)
Operating earnings (loss) (4) (1,519) (509) (1,040) – (3,072)
Other income (expense) — net 682 (80) 134 (216) (525) (5)
Interest ex
p
ense
Long-term debt (84) (105) – (31) – (220)
Other – – (53) 1 – (52)
Earnings (loss) from continuing operations before income taxes,
minority interests and equity in net loss of associated companies
594 (1,704) (428) (1,286) (525) (3,349)
Income tax benefit (expense) (2) 330 (49) 189 – 468
592 (1,374) (477) (1,097) (525) (2,881)
Minority interests — net of tax – – – 31 (26) 5
Equity in net earnings (loss) of associated companies — net of tax (3,485) (789) (773) (10) 5,040 (17)
Net earnings (loss) from continuing operations (2,893) (2,163) (1,250) (1,076) 4,489 (2,893)
Net earnings (loss) from discontinued operations — net of tax (101) (101) (66)
–
167 (101)
Net earnings (loss) $ (2,994) $ (2,264) $ (1,316) $ (1,076) $ 4,656 $ (2,994)