Armstrong World Industries, Inc. 2000 Annual Report

Investors should refer to the financial statements included in the Company's 2000 Report on Form 10-K for financial detail. This document is available at www.armstrong.com or by contacting our Investor Relations office.

(millions except for per-share data) 2000 1999 % change
2000 vs 1999

Earnings Highlights
As reported
  Net Sales
  Operating income (loss)
  Chapter 11 reorganization costs
  Loss from continuing operations
  Net earnings
  Diluted net earnings per share
Excluding unusual items
  Net Sales
  Operating income ⁽¹⁾
  Income from continuing operations ⁽²⁾
  Net earnings
  Diluted net earnings per share

$
$
$
$
$
$

$
$
$
$
$

3,003.
(0.
103.
(89.
12.
0.

3,003.
287.
121.
222.
5.

8
1)
3
0)
2
30

8
7
1
3
49

$
$

$
$
$

$
$
$
$
$

3,048.
68.
---
(24.
14.
0.

3,048.
402.
188.
226.
5.

2
5

0)
3
36

2
5
4
7
64
-1.5%
-28.5%
-35.7%
-1.9%
-2.7%

Balance Sheet Highlights
  Total assets
  Total liabilities subject to compromise
  Total shareholders' equity
$
$
$
3,874.
2,385.
665.
6
2
1
$
$
$
3,981.
---
679.
4

2
-2.7%
n/a
-2.1%

Cash Flow Highlights
  Net cash provided by operating activities
  Capital expenditures
$
$
41.
162.
8
1
$
$
338.
195.
1
2
-87.6%
-17.0%

Other Financial Data Highlights
  Stock price at year-end
  Average diluted shares outstanding
  Market capitalization at year-end
$

$
2.
40.
83.
06
5
4
$

$
33.
40.
1,341.
38
2
9
-93.8%
0.7%
-93.8%

(1) Excludes 2000 charges of $236.0 million related to an increase in the asbestos liability, $18.0 million of net restructuring costs and $33.8 million of charges related to the reorganization efforts that were not classified as restructuring efforts that were not classified as restructuring costs. Excludes 1999 charges of $335.4 million related to an increase in the asbestos liability and $1.4 million gain from reversing a portion of the 1998 reorganization charge.
(2) In addition to items noted in (1) above, 2000 figures also exclude $103.3 million in Chapter 11 reorganization costs and an after-tax gain of $44.1 million from the sale of the Installation Products Group. 1999 results also exclude a net gain of $4.8 million from the divestitures of Armstrong Industrial Specialties, Inc. and the Company's Textile Products Operations and income from the settlement of various legal actions.