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

Merck & Co., Inc. Annual Report 2002 19 Contents Financial Review Description of Merck’s Business 19 Competition and the Health Care Environment 20

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