Consolidated Financial Statements
Consolidated Statements of Operations
| |
|
Years Ended December 31, |
| (In millions, except per share amounts) |
|
2003 |
2002 |
2001 |
Revenues |
$ |
3,998.6 |
3,733.8 |
3,584.0 |
Expenses: |
|
|
|
|
Operating expenses |
|
3,404.2 |
3,136.1 |
3,047.3 |
Selling, general and administrative expenses |
|
520.6 |
470.6 |
451.5 |
| Total expenses |
|
3,924.8 |
3,606.7 |
3,498.8 |
Gains on sale of equity interest |
|
10.4 |
- |
- |
Other operating income, net |
|
15.6 |
5.2 |
12.6 |
Operating profit |
|
99.8 |
132.3 |
97.8 |
Interest income |
|
6.2 |
3.1 |
4.6 |
Interest expense |
|
(25.4) |
(23.0) |
(32.3) |
Stabilization Act compensation |
|
- |
5.9 |
- |
Other income (expense), net |
|
2.3 |
(5.2) |
0.2 |
Minority interest |
|
(9.0) |
(3.3) |
(6.9) |
| Income from continuing operations before income
taxes |
|
73.9 |
109.8 |
63.4 |
Provision for income taxes |
|
55.7 |
40.4 |
25.1 |
Income from continuing operations |
|
18.2 |
69.4 |
38.3 |
|
Income (loss) from discontinued operations |
(Years ended December 31, 2002 and 2001 include certain retained expenses of $2 million and $53 million, respectively, of former coal operations which, beginning in 2003, are recorded in continuing
operations. See note 6.) |
|
11.2 |
(43.3) |
(21.7) |
Net income |
$ |
29.4 |
26.1 |
16.6 |
|
Net income (loss) per common share |
|
|
|
|
| Basic: |
|
|
|
|
| Continuing operations |
$ |
0.34 |
1.31 |
0.74 |
| Discontinued operations |
|
0.21 |
(0.83) |
(0.43) |
| |
$ |
0.55 |
0.48 |
0.31 |
| Diluted: |
|
|
|
|
| Continuing operations |
$ |
0.34 |
1.30 |
0.73 |
| Discontinued operations |
|
0.21 |
(0.82) |
(0.42) |
| |
$ |
0.55 |
0.48 |
0.31 |
See accompanying notes to consolidated financial statements.
|
