EX-99.10 21 l86762aex99-10.txt EXHIBIT 99.10 1 EXHIBIT 99.10 THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES RECONCILIATION OF CONSOLIDATED STATEMENTS OF INCOME(1) (UNAUDITED) (In millions, except per share)
2000 QUARTER -------------------------------------------- FIRST SECOND THIRD FOURTH -------- -------- -------- -------- Net Sales - as reported $3,536.5 $3,474.7 $3,482.4 $3,526.4 Reclassification of shipping and handling costs 127.6 132.6 136.9 -- -------- -------- -------- -------- NET SALES - AS RESTATED $3,664.1 $3,607.3 $3,619.3 $3,526.4 Gross Profit - as reported $ 747.9 $ 733.5 $ 617.1 $ 642.5 Change in inventory costing method (20.2) 22.9 31.1 -- Reclassification of equity in earnings of affiliates 2.4 .3 2.3 -- -------- -------- -------- -------- GROSS PROFIT - AS RESTATED $ 730.1 $ 756.7 $ 650.5 $ 642.5 Net Income (Loss) - as reported $ 63.6 $ 59.7 $ (6.6) $ (102.0) Change in inventory costing method (15.4) 17.4 23.6 -- -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ 48.2 $ 77.1 $ 17.0 $ (102.0) -------- -------- -------- -------- PER SHARE OF COMMON STOCK - BASIC: Net Income (Loss) - as reported $ .41 $ .38 $ (.04) $ (.65) Change in inventory costing method (.10) .11 .15 -- -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ .31 $ .49 $ .11 $ (.65) -------- -------- -------- -------- Average Shares Outstanding 156.3 156.4 157.0 157.6 PER SHARE OF COMMON STOCK - DILUTED: Net Income (Loss) - as reported $ .40 $ .38 $ (.04) $ (.65) Change in inventory costing method (.10) .11 .15 -- -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ .30 $ .49 $ .11 $ (.65) -------- -------- -------- -------- Average Shares Outstanding 158.7 158.7 158.2 157.6
1999 QUARTER -------------------------------------------- FIRST SECOND THIRD FOURTH -------- -------- -------- -------- Net Sales - as reported $2,991.2 $3,048.7 $3,288.8 $3,551.9 Reclassification of shipping and handling costs 107.9 114.1 127.6 125.2 -------- -------- -------- -------- NET SALES - AS RESTATED $3,099.1 $3,162.8 $3,416.4 $3,677.1 Gross Profit - as reported $ 659.8 $ 613.5 $ 524.2 $ 731.7 Change in inventory costing method (2.6) 28.1 (16.0) (6.1) Reclassification of equity in earnings of affiliates (1.8) (2.5) (2.5) (2.7) -------- -------- -------- -------- GROSS PROFIT - AS RESTATED $ 655.4 $ 639.1 $ 505.7 $ 722.9 Net Income (Loss) - as reported $ 25.5 $ 65.7 $ 109.1 $ 40.8 Change in inventory costing method (1.6) 17.4 (9.9) (3.8) -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ 23.9 $ 83.1 $ 99.2 $ 37.0 -------- -------- -------- -------- PER SHARE OF COMMON STOCK - BASIC: Net Income (Loss) - as reported $ .16 $ .42 $ .70 $ .26 Change in inventory costing method (.01) .12 (.07) (.03) -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ .15 $ .54 $ .63 $ .23 -------- -------- -------- -------- Average Shares Outstanding 156.0 156.1 156.3 156.3 PER SHARE OF COMMON STOCK - DILUTED: Net Income (Loss) - as reported $ .16 $ .41 $ .69 $ .26 Change in inventory costing method (.01) .11 (.06) (.03) -------- -------- -------- -------- NET INCOME (LOSS) - AS RESTATED $ .15 $ .52 $ .63 $ .23 -------- -------- -------- -------- Average Shares Outstanding 157.8 159.6 159.5 158.8
(1) During the fourth quarter of 2000, Goodyear (A) changed its costing method for certain domestic inventories from LIFO to FIFO, (B) began reporting expenses for transportation of products to customers as Cost of Goods Sold and (C) began reporting equity in earnings of affiliates separately on consolidated statements of income. X-99-10