Financial Section - Merck.com

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19Merck & Co., Inc. Annual Report 2002ContentsFinancial ReviewDescription of merck s Business19Competition and the Health Care Environment20Business Strategies20Joint Ventures and Other Equity Method Affiliates21Foreign Operations23Operating Results23Capital and Environmental Expenditures28Analysis of Liquidity and Capital Resources29Recently Issued Accounting Standards31Critical Accounting Policies and Other Matters31Cautionary Factors That May Affect Future Results37Dividends Paid per Common Share37Condensed Interim Financial Data37Common Stock Market Prices37Consolidated Statement of Income38Consolidated Statement of Retained Earnings38Consolidated Statement of Comprehensive Income38Consolidated Balance Sheet39Consolidated Statement of Cash Flows40Notes to Consolidated Financial Statements41Management s Report54Audit Committee s Report54Compensation and Benefits Committee s Report55Reports of Independent Public Accountants55Selected Financial

20 Merck & Co., Inc. Annual Report 2002 live virus vaccine for the prevention of chickenpox, M-M-R II, a pediatric vaccine for measles, mumps and rubella, and

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