Motorola 2002 Annual Report Download - page 29

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Intelligence Everywhere™27
Special Excluding
(In millions, except per share amounts) GAAP Items Special
Year Ended December 31, 2002 Results Inc / (Exp) Items
Net sales $ 26,679 $ — $ 26,679
Costs of sales 17,938 (56) 17,882
Gross margin 8,741 (56) 8,797
Selling, general and
administrative expenses 4,203 (44) 4,159
Research and development expenditures 3,754 — 3,754
Reorganization of businesses 1,764 (1,764) —
Other charges 833 (833) —
Operating earnings (loss) (1,813) (2,697) 884
Other income (expense):
Interest expense, net (356) — (356)
Gains on sales of investments
and businesses, net 96 96 —
Other (1,373) (1,351) (22)
Total other income (expense) (1,633) (1,255) (378)
Earnings (loss) before income taxes (3,446) (3,952) 506
Income tax provision (961) 1,153 192
Net earnings (loss) $ (2,485) $ (2,799) $ 314
Earnings (loss) per common share
Basic $ (1.09) $ 0.14
Diluted $ (1.09) $ 0.14
CONSOLIDATED STATEMENTS OF OPERATIONS
EXCLUDING SPECIAL ITEMS
NON-GAAP MEASUREMENTS: RESULTS OF OPERATIONS
EXCLUDING SPECIAL ITEMS AND CERTAIN EXITED BUSINESSES
The tabular presentation below and as found on pages 28-30 reflects non-GAAP measurements
of Motorola’s results of operations presented on a basis excluding special items and certain
exited businesses. The non-GAAP measurements used throughout this report do not replace the
presentation of Motorola’s GAAP financial results. These measurements provide supplemental
information to assist the reader in analyzing the Company’s financial condition and results of
operations. Items that the Company considers to be special items generally relate to restructuring
activities and asset revaluations.
The Company is providing this information to enable comparisons of current operating results to
prior years and show the results of core ongoing operations. These ongoing results of operations
are used by investors and management to measure the Company’s current and future performance.