Document YrzON8j3yXgYp0O1zYjRmj85D

COOPER INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTE 6: PROPERTY, PLANT AND EQUIPMENT AND GOODWILL Property, plant and equipment Land and land improvements Buildings Machinery and equipment Toolmg, dies and patterns All other Construction m progress Accumulated depreciation December 31, 2001 2000 (in millions) $ 53 0 428 1 812 7 213 6 289 2 99 2 1,895 8 (1,069 0) $ 826 8 $ 51 5 408 9 816 0 191 1 290 2 124 6 1,882.3 (1,0119) $ 870 4 Goodwill Accumulated amortization $ 2,477 7 (519 0) $ 1,958 7 $ 2,473 7 (460 2) $ 2,013 5 NOTE 7: ACCRUED LIABILITIES Salaries, wages and employee benefit plans Commissions and customer mcentives Product and environmental liability accruals Facility integration of acquired businesses Other (individual items less than 5% of total current liabilities) December 31, 2001 2000 (m millions) $ 199 7 68 6 35 7 39 3 167 6 $ 510 9 $ 207 9 39 1 40 9 37 5 160 9 $ 486 3 At December 31, 2001, Cooper had accruals of $ 13 0 million with respect to potential product liability claims and $46 3 million with respect to potential environmental liabilities, including $23 6 million classified as a long-term liability, based on Cooper's current estimate of the most likely amount of losses that it believes will be incurred The product liability accrual consists of $3 2 million of known claims with respect to ongomg operations, $4 9 million of known claims for previously divested operations and $4 9 million which represents an estimate of claims that have been incurred but not yet reported While Cooper is generally self-insured with respect to product liability claims, Cooper has insurance coverage for individual 2001 claims above $3 0 million Environmental remediation costs are accrued based on estimates of known environmental remediation exposures Such accruals are adjusted as information develops or circumstances change The environmental liability accrual mcludes $7 1 million related to sites owned by Cooper and $39 2 million for retamed environmental liabilities F-ll