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9
Kodak
Dec 31, 2001 (In millions, except per share data)
Liabilities and
Shareholders’ Equity
Assets
Current Assets
Cash and cash equivalents
Receivables
Inventories
Deferred income tax charges
Other
Total current assets
Properties
Land, buildings and equipment at cost
Less: Accumulated depreciation
Net properties
Other Assets
Goodwill (net of accumulated
amortization of $920)
Other non-current assets
Total Assets
$
448
2,337
1,137
521
240
4,683
12,982
7,323
5,659
948
Current Liabilities
Payables
Short-term borrowings
Accrued income taxes
Current maturities of LTD
Total current liabilities
$
3,276
1,378
544
156
5,354
Other Liabilities
Long-term borrowings
Post-employment liabilities
Other long-term liabilities
1,666
2,728
720
Total liabilities
10,468
Shareholders' Equity
2,072
$ 13,362
Common stock, par value $2.50 per share,
950,000,000 shares authorized; issued
391,292,760 shares
Additional paid in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, as cost, 100,363,059 shares
Total shareholders' equity
Total liabilities and equity
Bandi, 2007
978
849
7,431
(597)
8,661
5,767
2,894
$ 13,362
10
Kodak
For Year Ended Dec. 31, 2001 (In millions)
Sales
Cost of goods sold
$13,234
8,670
Gross profit
Selling, general and administrative expenses
Research and development costs
Goodwill amortization
Restructuring costs and asset impairments
EARNINGS FROM OPERATIONS
Interest expense
4,564
2,627
779
154
659
345
219
Other income (charges)
(18)
Earnings before income taxes
108
Provision for income taxes
32
76
NET EARNINGS
Bandi, 2007
11
’
Kodak
For year ended Dec. 31, 2001
Accumulated
Additional
Other
Common Pail In Retained Comprehensive Treasury
(In millions, except number of shares)
Shareholders’ Equity Dec 31, 2000
Net earnings
Other comprehensive income (loss):
Unrealized holding gains arising during
period ($34 million pre-tax)
Stock
978
-
Capital
871
-
Earnings Income (Loss) Stock
7,869
(482)
(5,808)
76
-
Total
3,428
76
-
-
-
(21)
-
(21)
-
-
8
(98)
-
8
Currency translation adjustment
-
Minimum pension liability adjustment
($7 million pre-tax)
Hedging gains (losses)
-
-
-
-
-
-
(514)
-
(37)
33
(115)
-
(25)
3
-
Reclassification adjustment for gains included
in net earnings ($13 million pre-tax)
Comprehensive loss
Cash dividends declared
Treasury stock repurchased (3,541,295 shares)
Treasury stock issued under employee plans
(1,393,105 shares)
Tax reductions – employee plans
Shareholders’ Equity Dec 31, 2001
$978
$849
Bandi, 2007
$7,431
-
(41)
-
82
-
$ (597)
($5,767)
(98)
(37)
33
(115)
(514)
(41)
57
3
$2,894
12
Kodak
For year Ended Dec. 31, 2001 (In millions)
Cash flows from operating activities:
Net Earnings
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization
Restructuring costs
Provisions (benefit) for deferred income taxes
(Increase) decrease in receivables
(Increase) decrease in inventories
(Decrease) increase in liabilities excluding borrowings
Other items, net
Net cash provided by operating activities
Cash flow from Investing activities:
Additions to properties
Acquisitions, net of cash acquired
Marketable securities - sales
Marketable securities - purchases
Net cash used in investing activities
Cash flows from financing activities:
Net increase (decrease) in borrowings with original maturities of 90 days or less
Proceeds from other borrowings
Repayment of other borrowings
Dividends to shareholders
Exercise of employee stock options
Stock repurchase programs
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash
Net (decrease) increase in cash and cash equivalents
Bandi, 2007
$
76
919
830
(44)
252
461
(529)
100
2,065
(743)
(306)
54
(52)
(1,047)
(695)
1,907
(1,355)
(643)
22
(44)
(808)
(8)
202
13
Statement of Cash Flows
for Year Ended Dec. 31, 2001
Operating Cash flows
$ 2,065
Investing Cash flows
(1,047)
Financing Cash flows
(808)
Exchange rate changes on cash
(8)
Net Change in Cash
$ 202
Cash Balance, Dec. 31, 2000
246
Cash Balance, Dec. 31, 2001
$ 448
Balance Sheet
Dec. 31, 2000
Assets
Cash
Non-Cash Assets
Total Assets
Liabilities & Equity
Total liabilities
Equity:
Share Capital
Retained Earnings
Treasury Stock
Total equity
Dec. 31, 2000
$ 10,784
1,849
7,387
(5,808)
$ 3,428
$14,212
Statement of Shareholders’ Equity
for Year Ended Dec. 31, 2001
Share Capital, Dec. 31, 2000
Adjustments/Stock Issue
Share Capital, Dec. 31, 2001
$ 1,849
(22)
$ 1,827
Retained Earnings, Dec. 31, 2000
Add: Comprehensive Income
Less: Dividends
Retained Earnings, Dec. 31, 2001
$ 7,387
(39)
(514)
$ 6,834
Treasury Stock, Dec. 31, 2000
Treasury Stock Issued
Treasury Stock Repurchased
Treasury Stock, Dec. 31, 2001
$ 5,808
82
(41)
$ 5,767
(Period of time)
Bandi, 2007
Balance Sheet
Dec. 31, 2001
Assets
Cash
Non-Cash Assets
Total Assets
$ 448
12,914
$13,362
Liabilities & Equity
Total liabilities
$10,468
Equity:
Share Capital
Retained Earnings
Treasury Stock
Total equity
1,827
6,834
(5,767)
$ 2,894
Liabilities & Equity
$13,362
(Point in time)
(Point in time)
Liabilities & Equity
$ 246
13,966
$14,212
Income Statement
for Year Ended Dec. 31, 2001
Sales
$13,234
Expenses
(13,158)
Net Earnings
$ 76
Other Comprehensive Income
(115)
Comprehensive Income
$ (39)
14
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Laba setelah pajak (Net Operating Profit after Taxes/ NOPAT)
→ Laba bersih → tidak selalu merefleksikan kinerja yg sebenarnya
→→ dua perusahaan beda jumlah utang, beda biaya bunga,
tetapi SAMA kinerja operasinya!
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Bandi, 2007
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Bandi, 2007
9
Kodak
Dec 31, 2001 (In millions, except per share data)
Liabilities and
Shareholders’ Equity
Assets
Current Assets
Cash and cash equivalents
Receivables
Inventories
Deferred income tax charges
Other
Total current assets
Properties
Land, buildings and equipment at cost
Less: Accumulated depreciation
Net properties
Other Assets
Goodwill (net of accumulated
amortization of $920)
Other non-current assets
Total Assets
$
448
2,337
1,137
521
240
4,683
12,982
7,323
5,659
948
Current Liabilities
Payables
Short-term borrowings
Accrued income taxes
Current maturities of LTD
Total current liabilities
$
3,276
1,378
544
156
5,354
Other Liabilities
Long-term borrowings
Post-employment liabilities
Other long-term liabilities
1,666
2,728
720
Total liabilities
10,468
Shareholders' Equity
2,072
$ 13,362
Common stock, par value $2.50 per share,
950,000,000 shares authorized; issued
391,292,760 shares
Additional paid in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, as cost, 100,363,059 shares
Total shareholders' equity
Total liabilities and equity
Bandi, 2007
978
849
7,431
(597)
8,661
5,767
2,894
$ 13,362
10
Kodak
For Year Ended Dec. 31, 2001 (In millions)
Sales
Cost of goods sold
$13,234
8,670
Gross profit
Selling, general and administrative expenses
Research and development costs
Goodwill amortization
Restructuring costs and asset impairments
EARNINGS FROM OPERATIONS
Interest expense
4,564
2,627
779
154
659
345
219
Other income (charges)
(18)
Earnings before income taxes
108
Provision for income taxes
32
76
NET EARNINGS
Bandi, 2007
11
’
Kodak
For year ended Dec. 31, 2001
Accumulated
Additional
Other
Common Pail In Retained Comprehensive Treasury
(In millions, except number of shares)
Shareholders’ Equity Dec 31, 2000
Net earnings
Other comprehensive income (loss):
Unrealized holding gains arising during
period ($34 million pre-tax)
Stock
978
-
Capital
871
-
Earnings Income (Loss) Stock
7,869
(482)
(5,808)
76
-
Total
3,428
76
-
-
-
(21)
-
(21)
-
-
8
(98)
-
8
Currency translation adjustment
-
Minimum pension liability adjustment
($7 million pre-tax)
Hedging gains (losses)
-
-
-
-
-
-
(514)
-
(37)
33
(115)
-
(25)
3
-
Reclassification adjustment for gains included
in net earnings ($13 million pre-tax)
Comprehensive loss
Cash dividends declared
Treasury stock repurchased (3,541,295 shares)
Treasury stock issued under employee plans
(1,393,105 shares)
Tax reductions – employee plans
Shareholders’ Equity Dec 31, 2001
$978
$849
Bandi, 2007
$7,431
-
(41)
-
82
-
$ (597)
($5,767)
(98)
(37)
33
(115)
(514)
(41)
57
3
$2,894
12
Kodak
For year Ended Dec. 31, 2001 (In millions)
Cash flows from operating activities:
Net Earnings
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization
Restructuring costs
Provisions (benefit) for deferred income taxes
(Increase) decrease in receivables
(Increase) decrease in inventories
(Decrease) increase in liabilities excluding borrowings
Other items, net
Net cash provided by operating activities
Cash flow from Investing activities:
Additions to properties
Acquisitions, net of cash acquired
Marketable securities - sales
Marketable securities - purchases
Net cash used in investing activities
Cash flows from financing activities:
Net increase (decrease) in borrowings with original maturities of 90 days or less
Proceeds from other borrowings
Repayment of other borrowings
Dividends to shareholders
Exercise of employee stock options
Stock repurchase programs
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash
Net (decrease) increase in cash and cash equivalents
Bandi, 2007
$
76
919
830
(44)
252
461
(529)
100
2,065
(743)
(306)
54
(52)
(1,047)
(695)
1,907
(1,355)
(643)
22
(44)
(808)
(8)
202
13
Statement of Cash Flows
for Year Ended Dec. 31, 2001
Operating Cash flows
$ 2,065
Investing Cash flows
(1,047)
Financing Cash flows
(808)
Exchange rate changes on cash
(8)
Net Change in Cash
$ 202
Cash Balance, Dec. 31, 2000
246
Cash Balance, Dec. 31, 2001
$ 448
Balance Sheet
Dec. 31, 2000
Assets
Cash
Non-Cash Assets
Total Assets
Liabilities & Equity
Total liabilities
Equity:
Share Capital
Retained Earnings
Treasury Stock
Total equity
Dec. 31, 2000
$ 10,784
1,849
7,387
(5,808)
$ 3,428
$14,212
Statement of Shareholders’ Equity
for Year Ended Dec. 31, 2001
Share Capital, Dec. 31, 2000
Adjustments/Stock Issue
Share Capital, Dec. 31, 2001
$ 1,849
(22)
$ 1,827
Retained Earnings, Dec. 31, 2000
Add: Comprehensive Income
Less: Dividends
Retained Earnings, Dec. 31, 2001
$ 7,387
(39)
(514)
$ 6,834
Treasury Stock, Dec. 31, 2000
Treasury Stock Issued
Treasury Stock Repurchased
Treasury Stock, Dec. 31, 2001
$ 5,808
82
(41)
$ 5,767
(Period of time)
Bandi, 2007
Balance Sheet
Dec. 31, 2001
Assets
Cash
Non-Cash Assets
Total Assets
$ 448
12,914
$13,362
Liabilities & Equity
Total liabilities
$10,468
Equity:
Share Capital
Retained Earnings
Treasury Stock
Total equity
1,827
6,834
(5,767)
$ 2,894
Liabilities & Equity
$13,362
(Point in time)
(Point in time)
Liabilities & Equity
$ 246
13,966
$14,212
Income Statement
for Year Ended Dec. 31, 2001
Sales
$13,234
Expenses
(13,158)
Net Earnings
$ 76
Other Comprehensive Income
(115)
Comprehensive Income
$ (39)
14
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