Apple 2001 Annual Report Download - page 31

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See accompanying notes to consolidated financial statements
39
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(In millions, except share amounts which are in thousands)
Three fiscal years ended September 29, 2001
2001
2000
1999
Net sales
$
5,363
$
7,983
$
6,134
Cost of sales
4,128
5,817
4,438
Gross margin
1,235
2,166
1,696
Operating expenses:
Research and development
430
380
314
Selling, general, and administrative
1,138
1,166
996
Special charges:
Executive bonus
—
90
—
Restructuring costs
—
8
27
In
-
process research and development
11
—
—
Total operating expenses
1,579
1,644
1,337
Operating income (loss)
(344
)
522
359
Gains on non
-
current investment, net
88
367
230
Unrealized loss on convertible securities
(13
)
—
—
Interest and other income, net
217
203
87
Total interest and other income, net
292
570
317
Income (loss) before provision for income taxes
(52
)
1,092
676
Provision for (benefit from) income taxes
(15
)
306
75
Income (loss) before accounting change
(37
)
786
601
Cumulative effect of accounting change, net of income taxes of $5
12
—
—
Net income (loss)
$
(25
)
$
786
$
601
Earnings (loss) per common share before accounting change:
Basic
$
(0.11
)
$
2.42
$
2.10
Diluted
$
(0.11
)
$
2.18
$
1.81
Earnings (loss) per common share:
Basic
$
(0.07
)
$
2.42
$
2.10
Diluted
$
(0.07
)
$
2.18
$
1.81
Shares used in computing earnings (loss) per share (in thousands):
Basic
345,613
324,568
286,314
Diluted
345,613
360,324
348,328
Acquisition-
Related
Deferred
Stock
Compensation
Accumulated
Other
Comprehensive
Income (Loss)
Preferred Stock
Common Stock
Retained
Earnings
Total
Shareholders'
Equity
Shares
Amount
Shares
Amount
Balances as of September 25, 1998
150
150
270,386
633
898
— (
39
)
1,642
Components of comprehensive income:
Net income
601
601
Foreign currency translation — — — — — —
3
3