ENSCO INTERNATIONAL INC, 8-K, EX-99.2, 2001-01-12

ENSCO INTERNATIONAL INC
8-K, EX-99.2, 2001-01-12
DRILLING OIL & GAS WELLS

Previous: ENSCO INTERNATIONAL INC, 8-K, EX-99.1, 2001-01-12

Next: AMERICAN COUNTRY HOLDINGS INC, 8-K, 2001-01-12

EXHIBIT 99.2

ENSCO INTERNATIONAL INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1999
(in millions, except per share amounts)

	As				As
	Reported		Adjustment		Restated

REVENUES	$363	.7	$ -	-	$363	.7

OPERATING EXPENSES
Operating costs	250	.8	-	-	250	.8
Depreciation and amortization	98	.2	-	-	98	.2
General and administrative	11	.2	-	-	11	.2

	360	.2	-	-	360	.2


OPERATING INCOME	3	.5	-	-	3	.5

OTHER INCOME (EXPENSE)
Interest income	13	.7	-	-	13	.7
Interest expense, net	(19	.3)	-	-	(19	.3)
Other, net	7	.3	-	-	7	.3

	1	.7	-	-	1	.7


INCOME BEFORE INCOME TAXES
AND MINORITY INTEREST	5	.2	-	-	5	.2

PROVISION (BENEFIT) FOR INCOME TAXES
Current income taxes	(22	.4)	(5	.7)	(28	.1)
Deferred income taxes	19	.5	12	.1	31	.6

	(2	.9)	6	.4	3	.5

MINORITY INTEREST	1	.4	-	-	1	.4


NET INCOME	$ 6	.7	$ (6	.4)	$ 0	.3


EARNINGS PER SHARE
Basic	$ .0	5	$ (.0	5)	$ -	-
Diluted	$ .0	5	$ (.0	5)	$ -	-

ENSCO INTERNATIONAL INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
THREE MONTHS ENDED MARCH 31, 2000
(in millions, except per share amounts)
(Unaudited)

	As				As
	Reported		Adjustment		Restated

REVENUES	$96	.2	$ -	-	$96	.2

OPERATING EXPENSES
Operating costs	63	.8	-	-	63	.8
Depreciation and amortization	23	.5	-	-	23	.5
General and administrative	3	.1	-	-	3	.1

	90	.4	-	-	90	.4


OPERATING INCOME	5	.8	-	-	5	.8

OTHER INCOME (EXPENSE)
Interest income	2	.0	-	-	2	.0
Interest expense, net	(3	.0)	-	-	(3	.0)
Other, net	0	.1	-	-	0	.1

	(0	.9)	-	-	(0	.9)


INCOME BEFORE INCOME TAXES	4	.9	-	-	4	.9

PROVISION FOR INCOME TAXES
Current income taxes	0	.1	(0	.1)	-	-
Deferred income taxes	1	.0	0	.8	1	.8

	1	.1	0	.7	1	.8

NET INCOME	$ 3	.8	$ (0	.7)	$ 3	.1


EARNINGS PER SHARE
Basic	$ .0	3	$ (.0	1)	$ .0	2
Diluted	$ .0	3	$ (.0	1)	$ .0	2

ENSCO INTERNATIONAL INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
THREE MONTHS ENDED JUNE 30, 2000
(in millions, except per share amounts)
(Unaudited)

	As				As
	Reported		Adjustment		Restated

REVENUES	$116	.6	$ -	-	$116	.6

OPERATING EXPENSES
Operating costs	67	.7	-	-	67	.7
Depreciation and amortization	23	.8	-	-	23	.8
General and administrative	3	.2	-	-	3	.2

	94	.7	-	-	94	.7


OPERATING INCOME	21	.9	-	-	21	.9

OTHER INCOME (EXPENSE)
Interest income	1	.3	-	-	1	.3
Interest expense, net	(1	.9)	-	-	(1	.9)
Other, net	0	.2	-	-	0	.2

	(0	.4)	-	-	(0	.4)


INCOME BEFORE INCOME TAXES	21	.5	-	-	21	.5

PROVISION FOR INCOME TAXES
Current income taxes	4	.0	(0	.4)	3	.6
Deferred income taxes	1	.1	2	.5	3	.6

	5	.1	2	.1	7	.2

NET INCOME	$16	.4	$ (2	.1)	$14	.3


EARNINGS PER SHARE
Basic	$ .1	2	$ (.0	2)	$ .1	0
Diluted	$ .1	2	$ (.0	2)	$ .1	0

ENSCO INTERNATIONAL INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
THREE MONTHS ENDED SEPTEMBER 30, 2000
(in millions, except per share amounts)
(Unaudited)

	As				As
	Reported		Adjustment		Restated

REVENUES	$149	.8	$ -	-	$149	.8

OPERATING EXPENSES
Operating costs	81	.0	-	-	81	.0
Depreciation and amortization	25	.2	-	-	25	.2
General and administrative	3	.3	-	-	3	.3

	109	.5	-	-	109	.5


OPERATING INCOME	40	.3	-	-	40	.3

OTHER INCOME (EXPENSE)
Interest income	1	.7	-	-	1	.7
Interest expense, net	(4	.0)	-	-	(4	.0)
Other, net	0	.2	-	-	0	.2

	(2	.1)	-	-	(2	.1)


INCOME BEFORE INCOME TAXES	38	.2	-	-	38	.2

PROVISION FOR INCOME TAXES
Current income taxes	8	.6	(0	.7)	7	.9
Deferred income taxes	0	.6	4	.4	5	.0

	9	.2	3	.7	12	.9

NET INCOME	$29	.0	$ (3	.7)	$25	.3


EARNINGS PER SHARE
Basic	$ .2	1	$ (.0	3)	$ .1	8
Diluted	$ .2	1	$ (.0	3)	$ .1	8

ENSCO INTERNATIONAL INCORPORATED
CONSOLIDATED STATEMENT OF INCOME
NINE MONTHS ENDED SEPTEMBER 30, 2000
(in millions, except per share amounts)
(Unaudited)

	As				As
	Reported		Adjustment		Restated

REVENUES	$362	.6	$ -	-	$362	.6

OPERATING EXPENSES
Operating costs	212	.5	-	-	212	.5
Depreciation and amortization	72	.5	-	-	72	.5
General and administrative	9	.6	-	-	9	.6

	294	.6	-	-	294	.6


OPERATING INCOME	68	.0	-	-	68	.0

OTHER INCOME (EXPENSE)
Interest income	5	.0	-	-	5	.0
Interest expense, net	(8	.9)	-	-	(8	.9)
Other, net	0	.5	-	-	0	.5

	(3	.4)	-	-	(3	.4)


INCOME BEFORE INCOME TAXES	64	.6	-	-	64	.6

PROVISION FOR INCOME TAXES
Current income taxes	12	.7	(1	.2)	11	.5
Deferred income taxes	2	.7	7	.7	10	.4

	15	.4	6	.5	21	.9

NET INCOME	$ 49	.2	$ (6	.5)	$ 42	.7


EARNINGS PER SHARE
Basic	$ .3	6	$ (.0	5)	$ .3	1
Diluted	$ .3	5	$ (.0	5)	$ .3	1