|
2000-1998
|
(Dollar amounts in thousands except
per share amounts)
|
| |
|
|
|
| Years Ended December 31, |
2000
|
1999
|
1998
|
| |
|
|
|
| Summary of Net Revenue and Earnings |
|
|
|
 |
| Net revenue (1) |
$13,262,754
|
$11,881,196
|
$11,268,570
|
| Income (loss) from continuing operations (1)(2)(5) |
(901,040)
|
(1,207,243)
|
2,152,344
|
| Diluted earnings (loss) per share from continuing operations
(1)(2)(3) |
(0.69)
|
(0.92)
|
1.61
|
| Dividends per common share |
0.9200
|
0.9050
|
0.8700
|
| |
|
|
|
| Year-End Financial Position |
|
|
|
|
| Current assets (1) |
$10,180,811
|
$12,384,778
|
$10,698,188
|
| Current liabilities (1)(5) |
9,742,059
|
6,480,383
|
3,478,119
|
| Ratio of current assets to current liabilities (1)(5) |
1.05
|
1.91
|
3.08
|
| Total assets (1) |
21,092,466
|
23,123,756
|
20,224,231
|
| Long-term debt (1) |
2,394,790
|
3,606,423
|
3,839,402
|
| Average stockholders' equity (5) |
4,516,420
|
7,914,772
|
8,895,024
|
| |
| Stockholders - Outstanding Shares |
|
|
|
|
| Number of common stockholders |
58,355
|
62,482
|
65,124
|
Weighted average common shares outstanding used
for diluted earnings per share calculation (in thousands) (3) |
1,306,474
|
1,308,876
|
1,336,641
|
| |
| Employment Data (1) |
|
|
|
|
| Number of employees at year end |
48,036
|
46,815
|
47,446
|
| Wages and salaries |
$ 2,264,258
|
$ 2,032,431
|
$ 2,175,517
|
| Benefits (including social security taxes) |
602,816
|
593,222
|
577,930
|
|
1997-1995
|
(Dollar amounts in thousands except
per share amounts)
|
| |
|
|
|
| Years Ended December 31, |
1997
|
1996
|
1995
|
| |
|
|
|
| Summary of Net Revenue and Earnings |
|
|
|
|
| Net revenue (1) |
$12,076,62
|
$12,099,428
|
$11,466,287
|
| Income (loss) from continuing operations (1)(2)(5) |
1,747,638
|
1,651,617
|
1,472,525
|
| Diluted earnings (loss) per share from continuing operations
(1)(2)(3) |
1.33
|
1.28
|
1.18
|
| Dividends per common share |
0.8300
|
0.7825
|
0.7550
|
| |
|
|
|
| Year-End Financial Position |
|
|
|
|
| Current assets (1) |
$10,025,512
|
$10,310,256
|
$11,084,841
|
| Current liabilities (1)(5) |
3,476,322
|
3,584,256
|
3,929,940
|
| Ratio of current assets to current liabilities (1)(5) |
2.88
|
2.88
|
2.82
|
| Total assets (1) |
19,851,517
|
19,924,666
|
20,721,093
|
| Long-term debt (1) |
5,007,610
|
6,010,297
|
7,806,717
|
| Average stockholders' equity (5) |
7,568,672
|
6,252,545
|
4,898,550
|
| |
| Stockholders - Outstanding Shares |
|
|
|
|
| Number of common stockholders |
64,313
|
67,545
|
68,763
|
Weighted average common shares outstanding used
for diluted earnings per share calculation (in thousands) (3) |
1,312,975
|
1,287,790
|
1,250,902
|
| |
| Employment Data (1) |
|
|
|
|
| Number of employees at year end |
54,921
|
54,194
|
58,957
|
| Wages and salaries |
$ 2,428,518
|
$ 2,439,604
|
$ 2,512,418
|
| Benefits (including social security taxes) |
619,528
|
614,179
|
641,169
|
|
1994-1991
|
(Dollar amounts in thousands except
per share amounts)
|
| |
|
|
|
| Years Ended December 31, |
1994(4)
|
1993
|
1992
|
1991
|
| |
|
|
|
| Summary of Net Revenue and Earnings |
|
|
|
|
| Net revenue (1) |
$ 8,882,952
|
$8,304,851
|
$7,873,687
|
$7,079,443
|
| Income (loss) from continuing operations (1)(2)(5) |
1,525,517
|
1,469,300
|
1,460,842
|
1,375,273
|
| Diluted earnings (loss) per share from continuing operations
(1)(2)(3) |
1.24
|
1.17
|
1.15
|
1.08
|
| Dividends per common share |
0.7350
|
0.7150
|
0.6650
|
0.5938
|
| |
|
|
|
| Year-End Financial Position |
|
|
|
|
| Current assets (1) |
$11,321,682
|
$4,807,684
|
$4,552,077
|
$4,119,057
|
| Current liabilities (1)(5) |
4,291,452
|
1,584,411
|
1,492,717
|
1,270,135
|
| Ratio of current assets to current liabilities (1)(5) |
2.64
|
3.03
|
3.05
|
3.24
|
| Total assets (1) |
21,328,267
|
7,687,353
|
7,141,405
|
5,938,797
|
| Long-term debt (1) |
9,972,444
|
859,278
|
601,934
|
104,710
|
| Average stockholders' equity (5) |
4,065,295
|
3,719,539
|
3,431,568
|
2,987,885
|
| |
| Stockholders - Outstanding Shares |
|
|
|
|
| Number of common stockholders |
71,223
|
72,664
|
73,064
|
71,209
|
Weighted average common shares outstanding used
for diluted earnings per share calculation (in thousands) (3) |
1,234,100
|
1,252,990
|
1,267,240
|
1,273,390
|
| |
| Employment Data (1) |
|
|
|
|
| Number of employees at year end |
70,300
|
51,399
|
50,653
|
47,938
|
| Wages and salaries |
$ 1,811,402
|
$1,654,984
|
$1,575,615
|
$1,388,397
|
| Benefits (including social security taxes) |
439,572
|
396,045
|
367,899
|
300,810
|
|
(1)
|
As a result of the sale of the Cyanamid
Agricultural Products business on June 30, 2000, amounts for the years
1994 through 1999 were restated to reflect this business as a discontinued
operation. Beginning in 1994, current assets include the net assets
of the discontinued business held for sale related to the Cyanamid
Agricultural Products business. |
|
(2)
|
See "Management's Discussion and Analysis
of Financial Condition and Results of Operations" for amounts related
to gains on sales of business and Immunex common stock, termination
fee, litigation charges, goodwill impairment and special charges for
the years ended December 31, 2000, 1999 and 1998. |
|
(3)
|
The weighted average common shares outstanding
for diluted loss per share for 2000 and 1999 did not include common
share equivalents, as the effect would have been antidilutive. |
|
(4)
|
The 1994 information reflects the acquisition
of American Cyanamid Company for the one-month period ended December
31, 1994. |
|
(5)
|
In the 2000 fourth quarter, the Company
recorded an additional litigation charge of $7,500,000 related to
the litigation brought against the Company regarding the use of the
diet drugs Redux or Pondimin. The initial litigation charge of $4,750,000
was recorded in the 1999 third quarter. As a result of these litigation
charges, current liabilities have increased substantially in 2000
and 1999 compared with prior years, and the ratio of current assets
to current liabilities and average stockholders' equity has decreased
substantially in 2000 and 1999 compared with prior years. |
|
