| CONSOLIDATED
STATEMENTS OF OPERATIONS |
|
|
(in millions, except per share
amounts)
|
|
| For the Years Ended December 31, |
1999
|
1998
|
1997
|
|
| Revenues |
$3,253
|
$2,398
|
$1,411
|
| Cost of Sales |
(2,249)
|
(1,587)
|
(981)
|
| Selling, General and Administrative Expenses |
(71)
|
(56)
|
(45)
|
| Provision to Reduce Contract Receivables, net of
recoveries |
(8)
|
(22)
|
(17)
|
| Interest Expense |
(641)
|
(485)
|
(244)
|
| Interest Income |
77
|
67
|
41
|
| Gain on Contract Buyout |
91
|
--
|
--
|
| Impairment Loss |
(62)
|
--
|
--
|
| Foreign Currency Exchange Gain (Loss) |
9
|
(1)
|
(7)
|
| Equity in Pre-tax Earnings of Affiliates |
21
|
232
|
126
|
|
| Income Before Income Taxes Minority |
|
|
|
| Interest, and Extraordinary
Items |
420
|
546
|
284
|
| Income Taxes |
111
|
145
|
77
|
| Minority Interest |
64
|
94
|
19
|
|
| Income Before Extraordinary Items |
245
|
307
|
188
|
| Extraordinary Items-(loss) gain on early extinguishment |
|
|
|
| of debt-net of applicable
income taxes |
(17)
|
4
|
(3)
|
|
| Net Income |
$228
|
$311
|
$185
|
|
| Basic Earnings Per Share: |
|
|
|
| Before extraordinary
items |
$1.28
|
$1.73
|
$1.13
|
| Extraordinary items |
(0.09)
|
0.02
|
(0.02)
|
|
| Basic Earnings Per Share |
$1.19
|
$1.75
|
$1.11
|
|
| Diluted Earnings Per Share: |
|
|
|
| Before extraordinary
items |
$1.25
|
$1.67
|
$1.11
|
| Extraordinary items |
(0.09)
|
0.02
|
(0.02)
|
|
| Diluted Earnings Per Share |
$1.16
|
$1.69
|
$1.09
|
|
| |
|
|
|
|
See notes to
consolidated financial statements.
|
| |
|
|
|
|
69
|
