Disney Investor Relations - Annual Report 2002

(In millions, except per share data) 2002 2001

Revenues⁽¹⁾ $25,360 $25,790

Segment operating income⁽¹⁾ 2,826 4,214

Diluted earnings per share before the cumulative

effect of accounting changes, excluding restructuring and impairment charges and gain on the sale of businesses⁽¹⁾

0.53 0.97

Cash flow from operations 2,286 3,048

Borrowings
Total
Net⁽²⁾

14,130
12,891
9,769
9,151

Stockholders' equity 23,445 22,672

(1) Pro forma revenues, segment operating income and earnings per share reflect the ABC Family Worldwide, Inc. acquisition, the conversion of the Internet group common stock, the closure of the Go.com portal business and the adoption of SFAS 142 as if these events occurred at the beginning of fiscal 2001. (2) Net borrowings represent total borrowings less cash and cash equivalents.