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Notes to Consolidated Financial Statements

 8     Supplemental Financial Information

Other (Expense) Income, Net
Other expense, net in 2002 included net losses on equity investments of $18,576. Included in these charges was a $9,725 loss on an equity investment in a publicly traded company. This investment had been trading below its original cost basis of $15,350 since the end of January 2002. As a result, the Company has deemed this decline in value as being other than temporary and has written down this investment to its fair value as of September 30, 2002. Other expense, net in 2002 also included other asset write-downs of $14,149, which includes $7,257 relating to assets held for sale. These charges were partially offset by foreign exchange gains of $15,596, net of hedging costs.
    Other expense, net in 2001 included foreign exchange losses of $8,762, including net hedging costs, and write-downs of investments to market value of $6,401. As discussed in Note 10, hedging costs of $8,121 related to option contracts, originally recorded in other income, net, have been reclassified as a reduction in revenues to conform with current year presentation.
    Other income, net in 2000 included net gains on investments of $76,213 related primarily to transactions involving two equity investments. In fiscal 2000, the Company sold portions of an investment for net gains of $44,508 before taxes and proceeds of $52,506. The cost of this investment was determined based upon the specific identification method. The Company had entered into a forward sale contract to hedge a portion of the proceeds. Also during fiscal 2000, the Company received 480,000 shares of common stock in a publicly traded company (parent) in exchange for its shares in a majority-owned subsidiary of the parent company. The total value of the stock received by the Company was $50,820. Based upon the fair value of the parent common stock at the date of the exchange and the cost basis of subsidiary stock, the Company recorded a gain upon the exchange of the shares. The Company also entered into forward sale contracts to hedge the proceeds from the anticipated sale of the parent common stock. The Company subsequently sold the parent common stock and settled the forward sale contracts. As a result of these transactions, the Company recorded a net gain of $28,810 before taxes.

Trade Receivables
Allowances for doubtful accounts and cash discounts netted against trade receivables were $39,875 and $42,292 at September 30, 2002 and 2001, respectively.

Inventories 2002   2001  
Materials
 $  137,688     $  160,208  
Work in process
   132,051       115,257  
Finished products
   427,957       432,279  

 $  697,696     $  707,744  
    Inventories valued under the LIFO method were $440,994 in 2002 and $422,805 in 2001. At September 30, 2002 and 2001, inventories valued under the LIFO method approximated current cost.

Property, Plant and Equipment 2002   2001  
Land
 $  61,756     $  60,752  
Buildings
   1,071,799       1,022,908  
Machinery, equipment and fixtures
   2,430,456       2,278,919  
Leasehold improvements
   57,350       57,715  
Less allowances for depreciation and amortization
   1,855,631       1,704,271  

 $  1,765,730     $  1,716,023  

Supplemental Cash Flow Information
Noncash investing activities for the years ended September 30:

2002
 
2001
 
2000
 
Exchange of an investment in common stock
 $  -     $  -    $  35,800  
Stock issued for business acquisitions
 $  241     $  243    $  212  

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