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(1) The selected consolidated financial data included herein
should be read in conjunction with the consolidated financial statements
of Sabre Holdings Corporation ("Sabre") and the notes thereto
included in our Annual Report on Form 10-K for the year ended December 31,
2001, as filed with the Securities and Exchange Commission.
(2) Special items excluded from 2001 operating income are $288.5 million,
or $237.3 million net of tax and minority interests, in amortization expense
associated with goodwill and other intangibles, as well as stock compensation,
arising from the merger of Travelocity.com Inc. and Preview Travel Inc.,
the acquisition of a 51 percent interest in Dillon Communication Systems
GmbH, the acquisitions of Gradient Solutions Limited, GetThere Inc. and
Sabre Pacific; severance expense of $28.2 million, or $17.5 million net
of tax; and a write-off of software licenses of $6.0 million, or $3.7 million
net of tax. In addition to the items listed above, net earnings and earnings
per share ("EPS") before special items exclude a $47.3 million
gain, or $29.2 million net of tax, as a result of the sale of shares in
France Telecom; a loss of $3.2 million, or $2.3 million net of tax, related
to the sale of HRN warrants; amortization expense of $17.7 million, or $10.9
million net of tax, related to the accounting treatment of options granted
to US Airways Inc.; a gain of $62.8 million, or $38.8 million net of tax,
on the sale of the infrastructure outsourcing business to Electronic Data
Systems ("EDS") and a gain of $3.1 million, net of tax and minority
interests, for a cumulative effect of change in accounting principle. EPS
after special items was $0.24 for 2001.
Special items excluded from 2000 operating income are $114.7 million, or
$85.9 million net of tax and minority interests, in amortization expense
associated with goodwill and other intangibles, as well as stock compensation,
arising from the merger of Travelocity.com Inc. and Preview Travel Inc.,
the acquisition of a 51 percent interest in Dillon Communication Systems
GmbH, and the acquisitions of Gradient Solutions Limited and GetThere Inc.;
expenses of $12.5 million, or $7.5 million net of tax, associated with the
spinoff from AMR Corporation; and severance expense of $8.2 million, or
$5.0 million net of tax. In addition to the items listed above, net earnings
and EPS before special items exclude expenses of $12.2 million, or $7.5
million net of tax, related to the accounting treatment of options granted
to US Airways Inc. and severance expense related to discontinued operations
of $10.8 million, or $6.7 million net of tax. EPS after special items was
$1.11 for 2000.
(3) GDS reservations for which Sabre collects a booking fee - excluding
bookings transferred to our joint venture partners.
(4) Includes direct reservations plus GDS reservations processed by joint
venture partners using the Sabre GDS. |
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