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
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earnings; $295 million applicable to common shareholders. For the year,<br />
revenues were $35.2 billion, cash earnings were $3.3. billion and consolidated net<br />
income applicable to common shareholders was $2.1 billion. <strong>The</strong>se numbers<br />
decreased from 2000. For Management Comments, WorldCom represented:<br />
“As with others in the industry, MCI group was<br />
negatively impacted by a weak economy and on-going<br />
effects <strong>of</strong> wireless substitution,” said Bernard J. Ebbers,<br />
WorldCom present and CEO. “Despite all <strong>of</strong> these<br />
impacts, we remain encouraged by our continued<br />
progress on key growth initiatives that we expect will<br />
stabilize MCI revenue in the quarters ahead.”<br />
80. In its Consolidated Statement <strong>of</strong> Operations for fiscal year end<br />
December 31, 2001, WorldCom represented the following in filings with the SEC:<br />
WORLDCOM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF<br />
OPERATIONS (Unaudited. In Millions, Except Per Share Data)<br />
For Years<br />
Ended<br />
December 31<br />
1999 2000 2001<br />
Revenues<br />
Operating Expenses:<br />
$35,908 $39,090 $35,179<br />
Line Costs<br />
SG&A<br />
14,739<br />
8,935<br />
15,462<br />
10,597<br />
14,739<br />
11,046<br />
Depreciation &<br />
amort.<br />
4,354 4,878 5,880<br />
Other Charges (8)<br />
28, 020<br />
–<br />
30,937<br />
–<br />
31,665<br />
Total<br />
7, 888 8,153 3,514<br />
Operating Income<br />
Other income (expense)<br />
Interest expense<br />
Misc.<br />
(966)<br />
242<br />
(970)<br />
385<br />
(1,533)<br />
412<br />
Income before taxes, min.<br />
ints. & cumulative effect<br />
<strong>of</strong> accounting change<br />
7,164 7,568 2,393<br />
Provision for income taxes 2,965 3,025 927<br />
Income before min. ints. &<br />
cumulative effect <strong>of</strong><br />
accounting change<br />
4,199 4,543 1,466<br />
Minority interests (186) (305) 35<br />
Income before cumulative<br />
effect <strong>of</strong> accounting change 4,013 4,238 1,501<br />
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COMPLAINT
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