8-K 1 l92503ae8-k.htm 8-K (E-2) Form 8-K (E-2)
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FORM 8-K
Item 5. Other Events.
SIGNATURES


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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 
 

Date of report (Date of earliest event reported):  January 24, 2002

 

TRW Inc.


(Exact name of registrant as specified in its charter)
 
         
Ohio   1-2384   34-0575430

 
 
(State or other jurisdiction of
incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification Number)
 
 
1900 Richmond Road, Cleveland, Ohio        44124

(Address of principal executive offices)         (Zip Code)
 

Registrant’s telephone number, including area code:
(216) 291-7000

 

N/A


(Former name or former address, if changed since last report)


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Item 5. Other Events.

     In its earnings release issued for the quarter and year ended December 31, 2001, TRW has reported its results of operations by four segments. TRW previously reported its financial results for the first three quarters of 2001 by six business segments: Systems, Space & Electronics, Aeronautical Systems, Chassis Systems, Occupant Safety Systems and Automotive Electronics. Effective with the fourth quarter of 2001, as a result of a consolidation of the company’s automotive businesses, Chassis Systems, Occupant Safety Systems and Automotive Electronics were combined to form one Automotive segment. The consolidation of TRW’s global automotive operations into a single unit under a single executive was effected to improve the speed of decision-making, encourage consistent operating and customer practices throughout the entire automotive business and lower cost. The reporting of the Automotive business as one segment is also consistent with the way the Automotive business is now managed and the way resources are allocated by the Chief Executive Officer. In addition, effective with the fourth quarter of 2001, the interest component of Other Postretirement Employee Benefits and a portion of pension income related to businesses previously disposed of, previously reported under Corporate Expense and Other, was combined with Pension Income, and is now reported as Net Employee Benefits Income. This action was taken to combine these non-cash, employee benefit-related items, into one line item, and to isolate the reporting of corporate expenses.

     A statistical summary of TRW’s first three quarter results for 2001 based on the new reporting format described above is provided in this report.


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TRW
Results by Business Segments-Unaudited
(Dollar Amounts In Millions)

                   
      First quarter ended
      March 31
     
      2001   2000
     
 
Sales
 
Systems
  $ 789     $ 774  
 
Space & Electronics
    484       486  
 
Aeronautical Systems
    265       270  
 
Automotive
    2,629       3,035  
 
   
     
 
 
  $ 4,167     $ 4,565  
 
   
     
 
 
Profit before taxes
 
Systems
  $ 48     $ 47  
 
Space & Electronics
    34       227  
 
Aeronautical Systems
    29       27  
 
Automotive
    98       184  
 
   
     
 
 
    209       485  
 
Corporate expense and other
    (40 )     (53 )
Financing cost
    (130 )     (137 )
Net employee benefits income
    34       46  
 
   
     
 
Earnings before income taxes
  $ 73     $ 341  
 
   
     
 


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TRW
Results by Business Segments-Unaudited
(Dollar Amounts In Millions)

                                   
      Second quarter ended   Six months ended
      June 30   June 30
     
 
      2001   2000   2001   2000
     
 
 
 
Sales
 
Systems
  $ 799     $ 837     $ 1,588     $ 1,611  
 
Space & Electronics
    529       467       1,013       953  
 
Aeronautical Systems
    270       279       535       549  
 
Automotive
    2,678       2,893       5,307       5,928  
 
   
     
     
     
 
 
  $ 4,276     $ 4,476     $ 8,443     $ 9,041  
 
   
     
     
     
 
 
Profit(loss) before taxes
 
Systems
  $ 53     $ 77     $ 101     $ 124  
 
Space & Electronics
    (40 )     143       (6 )     370  
 
Aeronautical Systems
    35       39       64       66  
 
Automotive
    108       227       206       411  
 
   
     
     
     
 
 
    156       486       365       971  
 
Corporate expense and other
    (30 )     (81 )     (70 )     (134 )
Financing cost
    (123 )     (128 )     (253 )     (265 )
Net employee benefits income
    32       38       66       84  
 
   
     
     
     
 
Earnings before income taxes
  $ 35     $ 315     $ 108     $ 656  
 
   
     
     
     
 


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TRW
Results by Business Segments-Unaudited
(Dollar Amounts In Millions)

                                   
      Third quarter ended   Nine months ended
      September 30   September 30
     
 
      2001   2000   2001   2000
     
 
 
 
Sales
 
Systems
  $ 761     $ 836     $ 2,349     $ 2,447  
 
Space & Electronics
    505       463       1,518       1,416  
 
Aeronautical Systems
    269       257       804       806  
 
Automotive
    2,327       2,497       7,634       8,425  
 
   
     
     
     
 
 
  $ 3,862     $ 4,053     $ 12,305     $ 13,094  
 
   
     
     
     
 
 
Profit (loss) before taxes
 
Systems
  $ 40     $ 57     $ 141     $ 181  
 
Space & Electronics
    (47 )     41       (53 )     411  
 
Aeronautical Systems
    22       35       86       101  
 
Automotive
    92       66       298       477  
 
   
     
     
     
 
 
    107       199       472       1,170  
 
Corporate expense and other
    (152 )     (54 )     (222 )     (188 )
Financing cost
    (118 )     (132 )     (371 )     (397 )
Net employee benefits income
    47       37       113       121  
 
   
     
     
     
 
Earnings (loss) before income taxes
  $ (116 )   $ 50     $ (8 )   $ 706  
 
   
     
     
     
 


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
        TRW INC.
 
 
Date:   January 31, 2002   By:   /s/ W. B. Lawrence
       
                 W. B. Lawrence
         Executive Vice President,
         General Counsel and Secretary

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