Exhibit 99.2
Tyco International Ltd.
(in millions)
| | For the Fiscal Year Ended | |
| | September 29, 2006 | | September 30, 2005 | | September 30, 2004 | |
| | | | | | | |
Operating Income as reported on Form 10-K filed December 11, 2006: | | | | | | | |
| | | | | | | |
Fire & Security * | | $1,190 | | $1,216 | | $899 | |
Engineered Products & Services * | | 676 | | 672 | | 620 | |
Corporate * | | (400 | ) | (255 | ) | (482 | ) |
| | | | | | | |
Reconciling Adjustments to Pro Forma Operating Income in Tyco Form S-1 filed January 18, 2007: | | | | | | | |
| | | | | | | |
Corporate expenses previously allocated to Healthcare now absorbed in Corporate | | (66 | ) | (66 | ) | (66 | ) |
| | | | | | | |
Corporate expenses previously allocated to Electronics now absorbed in Corporate | | (84 | ) | (86 | ) | (86 | ) |
| | | | | | | |
Separation Cost adjusted in Pro Forma | | 164 | | — | | — | |
| | | | | | | |
TGN reclassified from Tyco Corporate to Tyco Electronics | | 5 | | (247 | ) | 78 | |
| | | | | | | |
Other | | — | | 1 | | 1 | |
| | | | | | | |
Operating Income As Shown Pro Forma in Tyco Form S-1 filed January 18, 2007 | | $1,485 | | $1,235 | | $964 | |
| | | | | | | |
Divestiture Losses | | 2 | | 22 | | 60 | |
| | | | | | | |
Voluntary Product Replacement Program | | 100 | | — | | — | |
| | | | | | | |
Former Executive Settlement | | (72 | ) | — | | — | |
| | | | | | | |
Reduction in estimated workers’ compensation liabilities | | (48 | ) | — | | — | |
| | | | | | | |
SEC Settlement | | — | | 50 | | — | |
| | | | | | | |
Restructuring Program Charges | | — | | — | | 273 | |
| | | | | | | |
Restructuring Program Savings | | — | | — | | (94 | ) |
| | | | | | | |
Legacy Contingencies - Former Executives | | — | | 70 | | — | |
* We continue to manage the business consistent with our historical segmentation as shown in our Annual Report on Form 10-K for fiscal 2006, filed on December 11, 2006. Shortly before or upon completion of the separation, we will reorganize to a new management and segment reporting structure.
Tyco International Ltd.
For the Fiscal Year Ended September 29, 2006
As Shown Pro Forma in Tyco Form S-1 filed January 18, 2007
(in millions)
| | | | | | | | | | | | | | | |
| | | | Fire | | | | | | Electrical | | | | | |
| | ADT | | Protection | | Flow | | Safety | | & Metal | | Corporate | | Net | |
Future Segments * | | Worldwide | | Services | | Control | | Products | | Products | | & Other | | Revenue | |
Net Revenue | | $ | 7,205 | | $ | 3,281 | | $ | 3,135 | | $ | 1,675 | | $ | 1,949 | | $ | 1,351 | | $ | 18,596 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | Fire | | | | | | Electrical | | | | | |
| | ADT | | Protection | | Flow | | Safety | | & Metal | | Corporate | | Operating | |
| | Worldwide | | Services | | Control | | Products | | Products | | & Other | | Income | |
Operating Income (Loss) | | $ | 907 | | $ | 239 | | $ | 356 | | $ | 202 | | $ | 319 | | $ | (538 | ) | $ | 1,485 | |
| | | | | | | | | | | | | | | |
Divestiture Losses (Gains) | | 2 | | (1 | ) | | | | | | | 1 | | 2 | |
| | | | | | | | | | | | | | | |
Voluntary Product Replacement Program | | | | | | | | 100 | | | | | | 100 | |
| | | | | | | | | | | | | | | |
Former Executive Settlement | | | | | | | | | | | | (72 | ) | (72 | ) |
| | | | | | | | | | | | | | | |
Reduction in estimated workers’ compensation liabilities | | | | | | | | | | | | (48 | ) | (48 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
* We continue to manage the business consistent with our historical segmentation as shown in our Annual Report on Form 10-K for fiscal 2006, filed on December 11, 2006. Shortly before or upon completion of the separation, we will reorganize to a new management and segment reporting structure.
Tyco International Ltd.
For the Fiscal Year Ended September 30, 2005
As Shown Pro Forma in Tyco Form S-1 filed January 18, 2007
(in millions)
| | | | Fire | | | | | | Electrical | | | | | |
| | ADT | | Protection | | Flow | | Safety | | & Metal | | Corporate | | Net | |
Future Segments* | | Worldwide | | Services | | Control | | Products | | Products | | & Other | | Revenue | |
Net Revenue | | $ | 7,104 | | $ | 3,182 | | $ | 2,806 | | $ | 1,682 | | $ | 1,798 | | $ | 1,386 | | $ | 17,958 | |
| | | | | | | | | | | | | | | | | | | | | | |
| | | | Fire | | | | | | Electrical | | | | | |
| | ADT | | Protection | | Flow | | Safety | | & Metal | | Corporate | | Operating | |
| | Worldwide | | Services | | Control | | Products | | Products | | & Other | | Income | |
Operating Income (Loss) | | $ | 952 | | $ | 202 | | $ | 336 | | $ | 278 | | $ | 295 | | $ | (828 | ) | $ | 1,235 | |
| | | | | | | | | | | | | | | |
Divestiture Losses | | 11 | | 4 | | | | 2 | | | | 5 | | 22 | |
| | | | | | | | | | | | | | | |
SEC Settlement | | | | | | | | | | | | 50 | | 50 | |
| | | | | | | | | | | | | | | |
Legacy Contingencies - Former Executives | | | | | | | | | | | | 70 | | 70 | |
| | | | | | | | | | | | | | | | | | | | | | |
* We continue to manage the business consistent with our historical segmentation as shown in our Annual Report on Form 10-K for fiscal 2006, filed on December 11, 2006. Shortly before or upon completion of the separation, we will reorganize to a new management and segment reporting structure.
Tyco International Ltd.
Reconciliation of Corporate Expenses
(in millions)
| | For the Fiscal Year Ended | |
| | September 29, 2006 | | September 30, 2005 | |
| | | | | |
Corporate Operating Loss as reported on Form 10-K filed December 11, 2006 | | $ | (400 | ) | $ | (255 | ) |
| | | | | |
Separation Cost adjusted in Pro Forma | | 164 | | — | |
| | | | | |
TGN reclassified from Tyco Corporate to Tyco Electronics | | 5 | | (247 | ) |
| | | | | |
Corporate expenses previously allocated to Healthcare now absorbed in Corporate | | (66 | ) | (66 | ) |
| | | | | |
Corporate expenses previously allocated to Electronics now absorbed in Corporate | | (84 | ) | (86 | ) |
| | | | | |
Fire & Security and Engineered Products & Services headquarters expenses previously reported in segment operating income and to be reported and managed in Corporate when we realign the operating and management structure of our businesses | | (242 | ) | (237 | ) |
| | | | | |
Corporate Expenses As Shown Pro Forma in Tyco Form S-1 filed January 18, 2007 | | $ | (623 | ) | $ | (891 | ) |
| | | | | |
Divestiture Losses | | 1 | | 5 | |
| | | | | |
Former Executive Settlement | | (72 | ) | — | |
| | | | | |
Reduction in estimated workers’ compensation liabilities | | (48 | ) | — | |
| | | | | |
SEC Settlement | | — | | 50 | |
| | | | | |
Legacy Contingencies - Former Executives | | — | | 70 | |