Exhibit 12.2

 

 

 

 

 

 

 

Report of the Group Auditors to the General Meeting of

Alcon, Inc.

 

As group auditors, we have audited the consolidated financial statements (consolidated balance sheets and related consolidated statements of earnings, shareholders' equity and comprehensive income, and cash flows) of Alcon, Inc. and subsidiaries for the year ended December 31, 2002, as included in Item 18 of the Form 20-F of Alcon, Inc. and as included in the Annual Report, and the accompanying Swiss disclosure requirements. 

These consolidated financial statements are the responsibility of the board of directors. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We confirm that we meet the legal requirements concerning professional qualification and independence.

Our audit was conducted in accordance with auditing standards promulgated by the Swiss profession and with auditing standards generally accepted in the United States of America, which require that an audit be planned and performed to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. We have examined on a test basis evidence supporting the amounts and disclosures in the consolidated financial statements. We have also assessed the accounting principles used, significant estimates made and the overall consolidated financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the consolidated financial statements give a true and fair view of the financial position, the results of operations and the cash flows in accordance with accounting principles generally accepted in the United States of America (US GAAP) and comply with Swiss law.

We recommend that the consolidated financial statements submitted to you be approved.

 

KPMG Klynveld Peat Marwick Goerdeler SA

 

 

 

 

 

Zurich, Switzerland

January 31, 2003

 

Alcon, Inc. and Subsidiaries

Swiss Disclosure Requirements

(in millions of US dollars)

 

 

The consolidated balance sheets of Alcon, Inc. and subsidiaries (the "Company") as of December 31, 2002 and 2001, and the related consolidated statements of earnings, shareholders' equity and comprehensive income, and cash flows for each of the three years in the period ended December 31, 2002 have been prepared in accordance with US Generally Accepted Accounting Principles and are included in Item 18 of the Form 20-F of Alcon, Inc.  Swiss law requires additional reporting disclosures and are included in the notes below.

 

 

Significant shareholders

Nestlé S.A. holds 74.46% of the common shares of Alcon, Inc.  The remaining shares are publicly traded on the New York Stock Exchange since March 21, 2002.  Alcon, Inc. is not aware of any other significant shareholder holding, directly or indirectly, 5% or more of the common shares.  
Investment in subsidiaries

The following is a list of Alcon, Inc.'s and subsidiaries major investments as of December 31, 2002.  The consolidated ownership of each of these investments as of December 31, 2002 is 100%.
      **Issued**Name **Domicile **Activity **share capital
Summit Autonomous, Inc. 
Massachusetts, USA 
Holding
$
0.1
Autonomous Technologies Corporation 
Delaware, USA 
Holding 
0.1
Alcon Holdings Inc. 
Delaware, USA 
Holding 
0.1
Alcon Pharmaceuticals, Inc. 
Delaware, USA 
Distributor 
0.1
Falcon Pharmaceuticals, Ltd. 
Texas, USA 
Distributor 
0.1
Refractive horizons, L.P. 
Texas, USA 
Distributor 
0.1
Alcon Laboratories (UK) Ltd. 
Herts, UK 
Distributor 
4.9
Alcon Pharmaceuticals Ltd. 
Hünenberg, Switzerland 
Distributor 
0.1
Alcon Japan Ltd. 
Tokyo, Japan 
Distributor 
3.7
Alcon Laboratories (Australia) Pty. Ltd 
Frenchs Forest, Australia 
Distributor 
2.0
Alcon Canada Inc. 
Missisauga, Canada 
Distributor 
4.3
Alcon (Puerto Rico) Inc. 
Puerto Rico 
Distributor 
0.1
Alcon Hong Kong Ltd. 
Hong Kong  
Distributor 
0.1       **(2)  Investment in subsidiaries (continued)          **Issued**Name **Domicile **Activity **share capital
Alcon Pte Ltd. 
Singapore  
Distributor
$
0.1
Alcon Italia S.p.A. 
Milan, Italy 
Distributor 
1.7
Alcon Pharma GmbH 
Freiburg, Germany 
Distributor 
0.5
Alcon Labortories, Inc.  
Delaware, USA 
Manufacturer and Distributor 
0.1
S.A. Alcon-Couvreur N.V 
Puurs, Belgium 
Manufacturer and Distributor 
2.4
Alcon Cusi S.A 
El Masnou, (Barcelona) Spain 
Manufacturer and Distributor 
15.0
Laboratoires Alcon S.A. 
Rueil-Malmaison, France 
Manufacturer and Distributor 
13.5
Alcon Laboratorios do Brasil Ltda. 
Sao Paulo, Brazil 
Manufacturer and Distributor 
10.6
Alcon Laboratorios S.A. de C.V. 
Mexico City, Mexico 
Manufacturer and Distributor 
4.7
Alcon (China) Ophthalmic Product Co. Ltd.  
Beijing, China 
Manufacturer and Distributor 
1.2
Alcon Manufacturing, Ltd. 
Texas, USA 
Manufacturer 
0.1
Alcon Ireland B.V. 
Amsterdam              The Netherlands 
Manufacturer 
0.1
Alcon Capital Corporation 
Delaware, USA 
Finance 
0.1
Alcon Coordination Center (N.V.) 
Puurs, Belgium 
Finance  
371.2
Alcon Credit Corporation 
Hünenberg, Switzerland 
Finance 
0.6
Alcon Finance PLC 
Cork, Ireland  
Finance 
0.1
Alcon Research, Ltd. 
Texas, USA 
Research & Development 
0.1
Trinity River Insurance Co. Ltd. 
Bermudas 
Captive Insurance 
0.1
 

 

 

 

 

 
**Fixed assets**
The fire insurance value for fixed assets amounts to $1,383.3 and $1,105.4 at December 31, 2002 and 2001, respectively.
**Expense by nature**
The following items are allocated to the appropriate headings of expenses by function in the consolidated statements of earnings for the year ended December 31.
  **2002 **2001
Depreciation of property, plant and equipment
$
92.0
$
78.3
Salaries and welfare expenses 
933.3 
844.9
Direct material cost 
324.6 
294.3**************************