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Supplemental Consolidating Statements of Operations for the year ended December 31, 2001:
F-87
Nortel Nortel Non-
Networks Networks Guarantor Guarantor
(millions of U.S. dollars) Corporation Limited Subsidiaries Subsidiaries Eliminations Total
Revenues $
–
$ 5,196 $ 14,124 $ 4,970 $ (5,390) $ 18,900
Cost of revenues – 4,639 11,044 4,319 (5,390) 14,612
Gross
p
rofit
–
557 3,080 651 – 4,288
Selling, general and administrative expense (21) 679 4,499 954 – 6,111
Research and development expense – 1,085 1,654 377 – 3,116
In-process research and development expense – – – 15 – 15
Amortization of intangibles
Acquired technology and other – – 574 232 – 806
Goodwill – 22 1,561 2,475 – 4,058
Deferred stock option compensation – 18 (2) 232 – 248
Special charges
Goodwill impairment – – 1,257 10,169 – 11,426
Other s
p
ecial char
g
es
–
505 1,654 1,231 – 3,390
(Gain) loss on sale of businesses and assets – (5) (90) 233 – 138
O
p
eratin
g
earnin
g
s (loss) 21 (1,747) (8,027) (15,267) – (25,020)
Other income (expense) — net (21) 306 (354) (57) (380) (506)
Interest expense
Long-term debt (32) (145) 3 (34) – (208)
Other 1 (26) (72) (6) – (103)
Earnings (loss) from continuing operations before income taxes,
minority interests and equity in net loss of associated companies (31) (1,612) (8,450) (15,364) (380) (25,837)
Income tax benefit (expense) (4) 1,777 309 669 – 2,751
(35) 165 (8,141) (14,695) (380) (23,086)
Minority interests — net of tax – – – (8) (26) (34)
Equity in net earnings (loss) of associated companies — net of tax (23,220) (11,171) (4,744) 7 38,978 (150)
Net earnings (loss) from continuing operations (23,255) (11,006) (12,885) (14,696) 38,572 (23,270)
Net earnings (loss) from discontinued operations — net of tax (2,467) (1,994) (1,296) (473) 3,763 (2,467)
Net earnings (loss) before cumulative effect of accounting change (25,722) (13,000) (14,181) (15,169) 42,335 (25,737)
Cumulative effect of accounting change — net of tax – 15 –
–
–15
Net earnings (loss) $ (25,722) $ (12,985) $ (14,181) $ (15,169) $ 42,335 $ (25,722)