GSK Annual Report 2002

150 GlaxoSmithKline Financial record
2001 2000 1999 1998
2002 (restated) (restated) (restated) (restated)
Net assets £m £m £m £m £m
Fixed assets 11,578 11,920 10,322 9,292 9,095
Other assets and liabilities (1,855) (1,567) (877) (401) (1,107)
Net operating assets 9,723 10,353 9,445 8,891 7,988
Net debt (2,335) (2,101) (611) (2,357) (2,717)
Capital employed
7,388 8,252 8,834 6,534 5,271
Share capital and share premium 1,730 1,713 1,586 1,549 1,542
Other reserves 4,851 5,677 6,004 3,842 2,616
Equity shareholders’ funds 6,581 7,390 7,590 5,391 4,158
Minority interests 807 862 1,244 1,143 1,113
7,388 8,252 8,834 6,534 5,271
Capital expenditure (tangible fixed assets) 1,027 1,113 1,018 1,141 1,037
Number of employees
USA 23,527 23,613 22,745 21,272 32,565
Europe 46,028 46,508 45,929 47,767 45,408
International:
Asia Pacific 19,512 20,749 21,689 21,831 21,643
Japan 2,952 2,985 3,165 3,191 3,402
Latin America 6,876 7,800 7,704 8,286 7,702
Middle East, Africa 3,750 3,959 4,502 4,754 4,547
Canada 1,854 1,856 1,783 1,940 1,554
Total International 34,944 37,349 38,843 40,002 38,848
104,499 107,470 107,517 109,041 116,821
Manufacturing 35,503 36,849 35,681 37,420 44,780
Selling 43,994 44,499 43,325 41,775 41,095
Administration 10,378 11,081 11,980 12,767 15,064
Research and development 14,624 15,041 16,531 17,079 15,882
104,499 107,470 107,517 109,041 116,821
The number of employees is the number of permanent employed staff at the end of the financial period. It excludes those employees who
are employed and managed by GlaxoSmithKline on a contract basis.