FORM 20-F THOMSON multimedia - Technicolor

1997 1998 1999 2000 2001 (1)
2001
1 1 1 1 1 (U.S.$)
(in millions except share and per-share data)
Approximate amounts in accordance
with U.S. GAAP (9)
Operating income (loss) .......................... (107) 69 169 284 204 178
Net income (loss) .................................... (330) (29) 148 136 191 167
Basic income (loss) per share (7) .............. (17.86) (0.22) 0.77 0.54 0.72 0.63
Diluted income (loss) per share (7)(8) ........ (17.86) (0.22) 0.76 0.54 0.69 0.60
(1) The acquisition of Technicolor and the other companies purchased in 2001 impacted our results of operations. Restated
to eliminate the effect of these acquisitions, 2001 net sales would have accounted for 3 8,777 million and operating
income would have been 3 379 million. See Note 2 to our consolidated financial statements.
(2) ‘‘Corporate’’ amounts consist principally of research carried out centrally by us and other corporate costs not allocated to
our operating segments.
(3) At the end of 1997, we used the proceeds from Thomson S.A.’s 3 1,657 million capital contribution to reduce our net debt
by 3 1,514 million, which significantly reduced our net interest expense in 1998 compared with 1997. We used the
3 610 million and part of the 3 844 million net proceeds from our public equity offerings realized in November 1999 and
October 2000 and concurrent capital increases to further reduce our net debt. Includes in 2001 3 25 million of interest on
the promissory notes due to Carlton and relating to the acquisition of Technicolor. See Note 5 to our consolidated
financial statements.
(4) Other financial expense, net, includes principally valuation allowances on investments carried at cost, interest on pension
plans and other non-financial payables. For further details, please refer to Note 5 to our consolidated financial statements.
(5) Other income (expense), net, is discussed further under Item 5: ‘‘Operating and Financial Review and Prospects’’. For
further details, please refer to Note 6 of our consolidated financial statements.
(6) Our income tax expense through the end of 2000 was affected by the ‘‘tax indemnification agreement’’ with
Thomson S.A., as described in Item 5: ‘‘Operating and Financial Review and Prospects’’. Pursuant to this agreement,
Thomson S.A. paid to us 3 51 million in respect of the 1998 fiscal year, 3 58 million in respect of the 1999 fiscal year, and
3 82 million in respect of the 2000 fiscal year. This agreement expired at year-end 2000.
(7) Net income (loss) per share for each year shown equals net income (loss) for that year divided by average number of
shares outstanding for such year. As the number of shares outstanding has varied from year to year since 1996, the net
income (loss) per share figure is not comparable on a year-to-year basis. Includes in 2001 redeemable bonds subscribed
by Carlton, redeemed for 15.5 million of our shares on March 16, 2002.
(8) See Note 17 to our consolidated financial statements.
(9) Please refer to Item 5: ‘‘Operating and Financial Review and Prospects — Overview — Principal Differences between
French GAAP and U.S. GAAP’’ and Notes 29 and 30 to our consolidated financial statements for further details.
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