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  • Financial Highlights
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  • Consolidated Financial Statements
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Consolidated Financial Statements

Consolidated Balance Sheets Consolidated Statements of Operations Consolidated Statements of Comprehensive Income Consolidated Statements of Shareholders’ Equity Consolidated Statements of Cash Flows

Consolidated Statements of Comprehensive Income (Loss)

		Years Ended December 31,
(In millions)		2004	2003	2002
Net income	$	121.5	29.4	26.1
Other comprehensive income (loss):
Minimum pension liability adjustments:
Adjustments to minimum pension liability		(9.2)	27.1	(210.8)
Tax benefit (expense) related to minimum pension liability adjustment		1.4	(12.0)	80.1
Minimum pension liability adjustments, net of tax		(7.8)	15.1	(130.7)
Foreign currency:
Translation adjustments arising during the year		25.7	47.0	8.1
Tax benefit related to translation adjustments		0.9	-	-
Reclassification adjustment for losses included in net income		0.8	0.9	-
Foreign currency translation adjustments, net of tax		27.4	47.9	8.1
Cash flow hedges:
Unrealized net gains (losses) on cash flow hedges arising during the year		2.6	2.4	(4.2)
Tax benefit (expense) related to unrealized net gains (losses) on cash flow hedges		(0.9)	(0.7)	1.3
Reclassification adjustment for net losses (gains) realized in net income		(2.8)	5.2	3.5
Tax expense (benefit) related to net losses (gains) realized in net income		1.0	(1.6)	(1.1)
Unrealized net gains (losses) on cash flow hedges, net of tax		(0.1)	5.3	(0.5)
Marketable securities:
Unrealized net gains on marketable securities arising during the year		0.1	4.4	0.6
Tax expense related to unrealized net gains on marketable securities		-	(1.5)	(0.2)
Reclassification adjustment for net losses (gains) realized in net income		(4.3)	0.2	(0.8)
Tax expense (benefit) related to net losses (gains) realized in net income		1.5	(0.1)	0.2
Unrealized net gains (losses) on marketable securities, net of tax		(2.7)	3.0	(0.2)
Other comprehensive income (loss)		16.8	71.3	(123.3)
Comprehensive income (loss)	$	138.3	100.7	(97.2)

See accompanying notes to consolidated financial statements.