The Regents - University of California | Office of The President
The Regents - University of California | Office of The President
The Regents - University of California | Office of The President
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
1<br />
2<br />
3<br />
4<br />
5<br />
6<br />
7<br />
8<br />
9<br />
10<br />
11<br />
12<br />
13<br />
14<br />
15<br />
16<br />
17<br />
18<br />
19<br />
20<br />
21<br />
22<br />
23<br />
24<br />
25<br />
26<br />
27<br />
28<br />
62. In its August 14, 2000 filing with the SEC for the Second Quarter <strong>of</strong><br />
2000 ended June 30, 2000, WorldCom represented its operation, including<br />
revenues and income:<br />
WORLDCOM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF<br />
OPERATIONS (Unaudited. In Millions, Except Per Share Data)<br />
For the Three Months<br />
For the Six Months<br />
Ended June 30, Ended June 30,<br />
2000 1999 2000 1999<br />
Revenues $10,193 $9,065 $20,171 $18,187<br />
Operating expenses:<br />
Line costs 4,152 3,956 8,244 8,093<br />
SG&A<br />
Depreciation & amortization<br />
2,442<br />
1,186<br />
2,241<br />
1,086<br />
4,741<br />
2,333<br />
4,615<br />
2,187<br />
Total 7,780 7,283 15,318 14,895<br />
Operating income 2,413 1,782 4,853 3,292<br />
Other income (expense):<br />
Interest expense (236) (248) (454) (520)<br />
Miscellaneous 109 48 220 22<br />
Income before income taxes<br />
and minority interests 2,286 1,582 4,619 2,794<br />
Provision for income taxes 930 654 1,883 1,201<br />
Income before minority interests 1,356 928 2,736 1,593<br />
Minority interests (65) (45) (144) 20<br />
Net income 1,291 883 2,592 1,613<br />
Distributions on subsidiary trust<br />
and other mandatorily<br />
redeemable preferred securities<br />
Preferred dividend requirement<br />
16<br />
-<br />
15<br />
3<br />
32<br />
1<br />
31<br />
5<br />
Net income applicable to<br />
common shareholders $ 1,275 $ 865 $ 2,559 $ 1,577<br />
3. Third Quarter 2000<br />
63. On October 26, 2000, WorldCom issued a Press Release reporting its<br />
Third Quarter 2000 financial results. WorldCom represented that it had “solid<br />
results in the third quarter ended September 30, 2000, driven by strength across<br />
the Company's digital and international businesses. This quarter WorldCom<br />
recognized after tax charges <strong>of</strong> $405 million associated with specific domestic and<br />
21<br />
COMPLAINT
Change language