Filter
Top Products
See notes 4, 7 and 10 to the accompanying consolidated financial statements for the impact of accounting changes, special charges and acquisitions, divestitures and closures,
respectively, that affect the comparability of the above selected financial data.
32
(millions of U.S. dollars, except per share amounts) 2003 2002 2001
As restated* As restated*
Results of Operations
Revenues $ 10,193 $ 11,008 $ 18,900
Research and development expense 1,960 2,083 3,116
Special charges
Goodwill im
p
airmen
t
– 595 11,426
Other special charges 284 1,500 3,390
Operating earnings (loss) 45 (3,072) (25,020)
Other income (expense) — net 445 (5) (506)
Income tax benefit (expense) 80 468 2,751
Net earnings (loss) from continuing operations 262 (2,893) (23,270)
Net earnings (loss) from discontinued operations — net of tax 184 (101) (2,467)
Cumulative effect of accounting changes — net of tax (12) – 15
Net earnings (loss) 434 (2,994) (25,722)
Basic earnings (loss) per common share
— from continuing operations 0.06 (0.75) (7.30)
— from discontinued operations 0.04 (0.03) (0.78)
Basic earnings (loss) per common share 0.10 (0.78) (8.08)
Diluted earnings (loss) per common share
— from continuing operations 0.06 (0.75) (7.30)
— from discontinued operations 0.04 (0.03) (0.78)
Diluted earnings (loss) per common share 0.10 (0.78) (8.08)
Dividends declared per common share – – 0.0375
(millions of U.S. dollars) 2003 2002 2001 2000**
As restated* As restated* As restated*
Financial Position as of December 31
Total assets $ 16,591 $ 16,961 $ 21,971 $ 44,337
Total debt 4,027 4,233 5,212 2,454
Minority interests in subsidiary companies 617 631 654 758
Total shareholders’ e
q
uit
y
3,945 3,053 4,808 27,862
* See note 3 to the accompanying consolidated financial statements.
** Total assets as of December 31, 2000 increased by $1,744 as a result of the Second Restatement, primarily due to increases in inventories — net and deferred income taxes-
net. Accumulated deficit as of December 31, 2000, increased by $1,432 as a result of the Second Restatement, as further described below.