SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 2003 Commission File Number 0-7491
MOLEX INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware 36-2369491
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2222 Wellington Court, Lisle, Illinois 60532
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (630) 969-4550
Securities registered pursuant to Section 12 (b) of the Act: None
Securities registered pursuant to Section 12 (g) of the Act:
Common Stock, par value $0.05
Class A Common Stock, par value $0.05
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No _____
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act) Yes X No _____
On August 29, 2003, the following numbers of shares of the Company's common
stock were outstanding:
Common Stock 100,416,878
Class A Common Stock 90,606,517
Class B Common Stock 94,255
The aggregate market value of the voting shares (based on the closing price of
these shares on the National Association of Securities Dealers Automated
Quotation System on such date) held by non-affiliates was approximately $1.69
billion.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Annual Report to Shareholders for the year ended June 30, 2003,
are incorporated by reference into Parts I, II and IV of this report.
Portions of the Proxy Statement for the annual meeting of Stockholders, to be
held on October 24, 2003 are incorporated by reference into Part III of this
report.
Index to Exhibits listed on Pages 18 through 19.
1
TABLE OF CONTENTS
Part I Page
Item 1. Business 3
Item 2. Properties 7
Item 3. Legal Proceedings 8
Item 4. Submission of Matters to a Vote of Security Holders 8
Part II
Item 5. Market for the Registrant's Common Equity and 8
Related Stockholder Matters
Item 6. Selected Financial Data 9
Item 7. Management's Discussion and Analysis of Financial 9
Condition and Results of Operations
Item 7A. Quantitative and Qualitative Disclosures About 9
Market Risk
Item 8. Financial Statements and Supplementary Data 9
Item 9. Changes in and Disagreements with Accountants on 9
Accounting and Financial Disclosure
Item 9A. Controls and Procedures 10
Part III
Item 10. Directors and Executive Officers of the Registrant 11
Item 11. Executive Compensation 13
Item 12. Security Ownership of Certain Beneficial Owners 13
and Management and Related Stockholder Matters
Item 13. Certain Relationships and Related Transactions 13
Item 14. Principal Accountant Fees and Services 13
Part IV
Item 15. Exhibits, Financial Statement Schedule, and Reports 14
on Form 8-K
Independent Auditors' Report on Schedule 16
Schedule II - Valuation and Qualifying Accounts 17
Index to Exhibits 18
Signature Page 20
Statements in this filing that are not historical are forward-looking and are
subject to various risks and uncertainties that could cause actual results to
vary materially from those stated. Certain of these risks and uncertainties
are set forth in this and other documents filed with the Securities and
Exchange Commission and include economic conditions in various regions,
product and price competition and foreign currency exchange rate changes.
Molex does not undertake to revise these forward-looking statements or to
provide any updates regarding information contained in this release resulting
from new information, future events or otherwise.
2
PART I
Item 1 - Business
General Development of the Business
Molex Incorporated originated from an enterprise established in 1938. It was
incorporated in 1972 in the state of Delaware. As used herein the term "Molex"
or "Company" includes Molex Incorporated and its United States and
international subsidiaries.
General Description of the Business
Molex is a global manufacturer of electronic components, including electrical
and fiber optic interconnection products and systems, switches, integrated
products and application tooling. The Company operates 58 plants in 19
countries and employs 17,275 people worldwide. In fiscal 2003, products
manufactured and sold outside the U.S. generated 66% of sales.
Molex makes available through its website, www.molex.com, its annual report on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all
amendments to those reports as soon as reasonably practicable after such
material is electronically filed with the Securities and Exchange Commission.
Molex serves original equipment manufacturers in industries that include
automotive, business equipment, computer, computer peripheral, consumer
products, industrial equipment, premises wiring and telecommunications. The
Company offers more than 100,000 products to customers, primarily through
direct sales people and authorized distributors. The global market for
electronic connectors is estimated at $24.9 billion. Molex is the
second-largest connector manufacturer in the world in what is a fragmented
but highly competitive industry.
Molex conducts business in one industry segment: the manufacture and sale of
electrical components. The Company designs, manufactures, and distributes
electrical and electronic devices such as terminals, connectors, planar cables,
cable assemblies, interconnection systems, fiber optic interconnection systems,
backplanes and mechanical and electronic switches. Crimping machines and
terminal inserting equipment (known as "application tooling") are offered on a
lease or purchase basis to the Company's customers for the purpose of applying
the Company's components to the customers' products. Molex products are
designed for use in a broad range of electrical and electronic applications
as set forth below:
3
Percentage of
Fiscal 2003
Market Net Revenue Products
- ------------ ------------- ---------------------------------
Computers 31% Computers, peripheral equipment,
copiers, printers and scanners
Telecommunications 20% Networking equipment, switches,
transmission equipment, and cellular
and mobile products
Consumer Products 19% Televisions, HDTV, CD players,
video/electronic equipment,
electronic games, microwave ovens,
refrigeration, washers, dryers, and
dishwashers
Automotive 19% Engine control units, adaptive breaking
systems, panel instrumentation, and
other automotive electronics
Industrial 7% Factory automation, robotics,
instrumentation and process
controllers, electrical power equipment
and transportation equipment
Other 4% Miscellaneous
The Company sells its products primarily to original equipment manufacturers
and their subcontractors and suppliers. The Company's customers include
various multinational companies, including AT&T, Canon, Cisco, Compaq, Delphi,
Hewlett Packard, IBM, Lucent, Matsushita, Motorola, Nokia, Philips, Sony,
Tellabs, Thomson, Toshiba, Visteon and Xerox, many of which Molex serves on a
global basis. Net revenues contributed by different industry groups fluctuate
due to various factors including model changes, new technology, introduction
of new products and composition of customers. No customer accounted for 10% or
more of net revenues in fiscal years 2003, 2002 or 2001.
Financial information by geographic area for each of the last three fiscal
years in the periods ended June 30, 2003, 2002 and 2001 is included in Note 11
of the Notes to the Consolidated Financial Statements which is referenced in
Item 8.
4
In the United States and Canada, the Company sells its products primarily
through direct sales engineers and industrial distributors. Internationally,
Molex sells primarily through its own sales organizations in Japan, Hong Kong,
Singapore, Taiwan, Republic of Korea, Malaysia, Thailand, China, Australia,
England, Italy, Ireland, France, Spain, Germany, the Netherlands, Poland,
Sweden, Turkey, Finland, Czech Republic, Slovenia, Russia, India,
Mexico and Brazil.
Outside of the United States and Canada, Molex also sells its products through
manufacturers' representative organizations, some of which act as distributors,
purchasing from the Company for resale. The manufacturers' representative
organizations are granted exclusive territories and are compensated on a
commission basis. These relationships are terminable by either party on
short notice. All sales orders received are subject to approval by the
Company.
The Company promotes its products through the internet, leading trade
magazines, direct mailings, catalogs and other promotional literature. Molex
is a frequent participant in trade shows and also conducts educational seminars
for its customers and its manufacturers' representative organizations.
There was no significant change in the Company's suppliers, products, markets
or methods of distribution during the last fiscal year.
Molex generally seeks to locate manufacturing facilities to serve local
customers and currently has 58 manufacturing facilities in 19 countries on six
continents.
The principal raw materials and component parts Molex purchases for the
manufacture of its products include brass, copper, aluminum, steel, tin,
nickel, gold, silver, nylon and other molding materials, and nuts, bolts,
screws and rivets. Virtually all materials and components used in the
Company's products are available from several sources, although to achieve
economies of scale the Company does concentrate purchases from a limited number
of suppliers and thus in the short term, are dependent upon these suppliers to
meet performance and quality specifications and delivery schedules. Although
the availability of such materials has generally been adequate, no assurance
can be given that additional cost increases or material shortages or
allocations imposed by its suppliers in the future will not have a materially
adverse effect on the operations of the Company.
Competition
The market in which the Company operates is highly fragmented with a
significant number of smaller competitors. Many of these companies offer
products in some, but not all, of the markets and regions served by the
Company. Pricing within the industry remains highly competitive. The general
trend in the industry is for customers to consolidate their supply base by
selecting global companies possessing broad product lines for the majority of
their connector requirements. The Company believes that it is gaining market
share as a result of this trend, through it's global presence, financial
strength, broad product line, emphasis on new product development, as well as
the benefits derived from its global operating system.
Research and Development
Molex incurred total research and development costs of $117.0 million in 2003,
$111.8 million in 2002, and $134.6 million in 2001.
5
Patents
As of June 30, 2003, the Company owned 745 United States patents and had 194
patent applications on file with the United States Patent Office. The Company
also has 1,742 corresponding patents issued and 1,618 applied for in other
countries as of June 30, 2003. No assurance can be given that any patents
will be issued on pending or future applications. As the Company develops
products for new markets and uses, it normally seeks available patent
protection. The Company believes that its patents are of importance but does
not consider itself materially dependent upon any single patent or group of
related patents.
Backlog
The backlog of unfilled orders at June 30, 2003 was approximately $185.6
million; this compares to $203.5 million at June 30, 2002. Substantially all
of these orders are scheduled for delivery within twelve months. The Company's
experience is that orders are normally delivered within ninety days from
acceptance.
Compliance
The Company monitors the environmental laws and regulations in the countries in
which it operates and has implemented an environmental program to reduce the
generation of potentially hazardous materials during its manufacturing process.
The Company believes it is in full compliance with federal, state and local
regulations pertaining to environmental protection. The Company does not
anticipate that the costs of compliance with such regulations will have a
material effect on its capital expenditures, earnings or competitive position.
Employees
As of June 30, 2003, the Company employed 17,275 people worldwide. The Company
believes its relations with its employees are favorable.
International Operations
The Company is engaged in material operations in foreign countries. Net
revenue derived from international operations for the fiscal year ended
June 30, 2003 was approximately 66% of consolidated net revenue. Total
assets reported by international operations comprised 64% of consolidated
total assets.
The Company believes the international net revenue and earnings will continue
to be significant. The analysis of the Company's operations by geographical
area appears in footnote 11 on page 51 of the 2003 Annual Report to
Shareholders and is incorporated herein by reference.
A discussion of market risk associated with changes in foreign currency
exchange rates can be found under the caption "Quantitative and Qualitative
Disclosures About Market Risk" on page 35 of the 2003 Annual Report to
Shareholders and is incorporated herein by reference.
6
Item 2 - Properties
Molex owns and leases manufacturing, warehousing and office space in several
locations around the world. The total square footage of these facilities is
presented below:
Owned Leased Total
--------- ------- ---------
6,569,703 401,150 6,970,853
The leases are of varying terms with expirations ranging from fiscal 2004
through fiscal 2017. The leases in aggregate are not considered material to
the financial position of the Company.
The Company's buildings, machinery and equipment have been well maintained and
are adequate for its current needs.
A listing of principal manufacturing facilities is presented below:
Australia Italy Singapore
Melton, Victoria Padova Jurong Town
Brazil Japan Slovakia
Manaus Kagoshima (3) Bratislava
Sao Paulo Okayama Kechnec
Shizuoka Liptovsky Hradok
China (P.R.C.) Tochigi
Dongguan (2) Yamato Taiwan
Shanghai Taipei
Dalian (2) Malaysia
Perai, Penang Thailand
England Bangpakong
Farnham Mexico
Guadalajara United States
Germany Nogales Pinellas Park, Florida
Biberach St. Petersburg, Florida
Ettlingen Poland Bolingbrook, Illinois
Tczew Downers Grove, Illinois (3)
India Sulecin Lincoln, Nebraska (3)
Bangalore Naperville, Illinois (2)
Gandhinagar Puerto Rico Mooresville, Indiana
Noida Ponce Gilford, New Hampshire
Maumelle, Arkansas (2)
Ireland Republic of Korea Auburn Hills, Michigan (2)
Millstreet Ansan City (2)
Shannon (2) Gwang-Ju
Ennis
7
Item 3 - Legal Proceedings
None deemed material to the Company's financial position or consolidated
results of operations.
Item 4 - Submission of Matters to a Vote of Security Holders
None.
PART II
Item 5 - Market for the Registrant's Common Equity and Related Stockholder
Matters
Molex is traded on the National Market System of the NASDAQ in the United
States and on the London Stock Exchange and trades under the symbols MOLX for
Common Stock and MOLXA for Class A Common Stock. The information set forth
under the caption "Fiscal 2003, 2002, and 2001 by Quarter (Unaudited)" on page
52 of the 2003 Annual Report to Shareholders is incorporated herein by
reference.
The number of shareholders of record at June 30, 2003 was 5,416 for Common
Stock and 8,447 for Class A Common Stock.
The following table presents quarterly dividends per common share for the
last two fiscal years.
Class A
Common Stock Common Stock
------------------------ ------------------------
Fiscal 2003 Fiscal 2002 Fiscal 2003 Fiscal 2002
----------- ----------- ----------- -----------
Quarter Ended -
September 30, $0.0250 $0.0250 $0.0250 $0.0250
December 31, 0.0250 0.0250 0.0250 0.0250
March 31, 0.0250 0.0250 0.0250 0.0250
June 30, 0.0250 0.0250 0.0250 0.0250
----------- ----------- ----------- -----------
Total $0.1000 $0.1000 $0.1000 $0.1000
----------- ----------- ----------- -----------
Cash dividends on Common Shares have been paid every year since 1977. On
January 28, 2000, the Board of Directors of Molex declared a regular quarterly
cash dividend of $0.025 per share that will be in effect unless or until the
Board takes further action regarding the cash dividend.
Descriptions of the Company's Common Stock appear under the caption
"Description of the Three Different Classes of Stock" in the Company's 2003
Proxy statement and in footnote 3 on page 43 of the 2003 Annual Report to
Shareholders and are incorporated herein by reference.
8
Item 6 - Selected Financial Data
The information set forth under the caption "Ten Year Financial Highlight
Summary" (only the five years in the period ended June 30, 2003) on page 28 of
the 2003 Annual Report to Shareholders is incorporated herein by reference.
Item 7 - Management's Discussion and Analysis of Financial Condition and
Results of Operations
The information set forth under the caption "Management's Discussion of
Financial Condition and Results of Operations" on pages 29 through 35 of the
2003 Annual Report to Shareholders is incorporated herein by reference.
Item 7A - Quantitative and Qualitative Disclosures About Market Risk
The information set forth under the caption "Quantitative and Qualitative
Disclosures About Market Risk" on page 35 of the 2003 Annual Report to
Shareholders is incorporated herein by reference.
Item 8 - Financial Statements and Supplementary Data
The following consolidated financial statements of the Company set forth on
pages 37 through 51 of the 2003 Annual Report to Shareholders and the
independent auditors' report set forth on page 36 of the 2003 Annual Report to
Shareholders are incorporated herein by reference:
Independent Auditors' Report
Consolidated Balance Sheets - June 30, 2003 and 2002
Consolidated Statements of Income for the years ended June 30, 2003, 2002
and 2001
Consolidated Statements of Shareholders' Equity for the years ended
June 30, 2003, 2002 and 2001
Consolidated Statements of Cash Flows for the years ended June 30, 2003,
2002 and 2001
Notes to Consolidated Financial Statements
The supplementary data regarding quarterly results of operations, set forth
under the caption "Fiscal 2003, 2002, and 2001 by Quarter (Unaudited)" on page
52 of the 2003 Annual Report to Shareholders, is incorporated herein by
reference.
Item 9 - Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
None.
9
Item 9A. - Controls and Procedures
As of the end of the period covered by this report, the Company conducted an
evaluation, under the supervision and with the participation of the principal
executive officer and principal financial officer, of the Company's disclosure
controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the
Securities Exchange Act of 1934 (the "Exchange Act")). Based on this
evaluation, the principal executive officer and principal financial officer
concluded that the Company's disclosure controls and procedures are effective
to ensure that information required to be disclosed by the Company in reports
that it files or submits under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in Securities and
Exchange Commission rules and forms. There was no change in the Company's
internal control over financial reporting during the Company's most recently
completed fiscal quarter that has materially affected, or is reasonably likely
to materially affect, the Company's internal control over financial reporting.
10
PART III
Item 10 - Directors and Executive Officers of the Registrant
The information under the caption "Election of Directors" in the Company's
Proxy Statement for the annual meeting of Stockholders to be held on
October 24, 2003 (the "Company's 2003 Proxy Statement") is incorporated herein
by reference. The information called for by Item 401 of Regulation S-K
relating to the Executive Officers is furnished below.
Executive Officers of the Registrant
The following information relates to the executive officers of the Registrant
who serve at the discretion of the Board of Directors and are customarily
elected for one-year terms at the Regular Meeting of the Board of Directors
held immediately following the Annual Stockholders' Meeting. All of the
executive officers named hold positions as officers and/or directors of one
or more subsidiaries of the Registrant. For purposes of this disclosure, only
the principal positions are set forth.
Year
Employed
Positions Held with Registrant by
Name During the Last Five Years (a) Age Registrant
- ------------------------ ------------------------------- --- ----------
Frederick A. Krehbiel(b) Co-Chairman (1999-); Co-Chief 62 1965(c)
Executive Officer (1999-2001);
Chairman (1993-1999) and Chief
Executive Officer (1988-1999).
John H. Krehbiel, Jr.(b) Co-Chairman (1999-); Co-Chief 66 1959(c)
Executive Officer (1999-2001);
President (1975-1999) and Chief
Operating Officer (1996-1999).
J. Joseph King Vice Chairman and Chief 59 1975
Executive Officer (2001-);
President and Chief Operating
Officer (1999-2001); Executive
Vice President (1996-1999)
Martin P. Slark President and Chief Operating 48 1976
Officer (2001-); Executive
Vice President (1999-2001);
Corporate Vice President
(1990-1999) and Regional President,
Americas (1996-1998);
Robert B. Mahoney Executive Vice President(2002-); 50 1995
Corporate Vice President (1996-2002)
Treasurer and Chief Financial
Officer (1996-).
11
Year
Employed
Positions Held with Registrant by
Name During the Last Five Years (a) Age Registrant
- ------------------------ ------------------------------- --- ----------
Ronald L. Schubel Executive Vice President (2001-) 60 1981
and Regional President, Americas
(1998-); Corporate Vice President
(1982-2001).
James E. Fleischhacker Executive Vice President (2001-); 59 1984
Corporate Vice President (1994-
2001); Regional President, Far
East South (1998-2001); Divisional
President, DataCom Division-Americas
(1989-1998).
Werner W. Fichtner Corporate Vice President 60 1981
(1987-) and Regional President,
Europe (1981-).
Goro Tokuyama Corporate Vice President 69 1985
(1990-), Regional President,
Far East North (1988-), and
President of Molex Japan Co.,
Ltd. (1985-2002).
Kathi M. Regas Corporate Vice President (1994-); 47 1985
Louis A. Hecht Corporate Secretary (1977-) and 59 1974
General Counsel (1975-).
__________________________________________________________________________
(a) All positions are with Registrant unless otherwise stated.
(b) John H. Krehbiel, Jr. and Frederick A. Krehbiel (the "Krehbiel Family")
are brothers. The members of the Krehbiel Family may be considered to be
"control persons" of the Registrant. The other officers listed above have
no relationship, family or otherwise, to the Krehbiel Family, Registrant
or each other.
(c) Includes period employed by Registrant's predecessor.
In accordance with Item 406 of Regulation S-K, the Company has adopted a code
of ethics that applies to all employees and officers, including the chief
executive officer and chief financial officer, and has posted the code of
ethics on its website at www.molex.com.
12
Item 11 - Executive Compensation
The information under the caption "Information About Executive Officer
Compensation and Transactions" in the Company's 2003 Proxy Statement is
incorporated herein by reference.
Item 12 - Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters
The information under the captions "Security Ownership of Directors,
Management and Certain Beneficial Owners" and "Equity Compensation Plan
Information" in the Company's 2003 Proxy Statement is incorporated herein by
reference.
Item 13 - Certain Relationships and Related Transactions
The information under the captions "Election of Directors," "Information About
Executive Officer Compensation and Transactions" and "Security Ownership of
Directors, Management and Certain Beneficial Owners" in the Company's 2003
Proxy Statement is herein incorporated by reference.
Item 14 - Principal Accountant Fees and Services
The information under the caption "Independent Auditor Fees" in the Company's
2003 Proxy Statement is herein incorporated by reference.
13
PART IV
Item 15 - Exhibits, Financial Statement Schedules, and Reports on
Form 8-K
(a) 1. Financial Statements
The following consolidated financial statements contained in the Company's 2003
Annual Report to Shareholders have been incorporated by reference in Item 8.
Page(s) in
Annual Report
Item to Shareholders
-------------------------------------------- ---------------
Independent Auditors' Report 36
Consolidated Balance Sheets - June 30, 2003
and 2002 37
Consolidated Statements of Income - for
the years ended June 30, 2003, 2002 and 2001 38
Consolidated Statements of Shareholders' Equity
for the years ended June 30, 2003, 2002 and 2001 39
Consolidated Statements of Cash Flows - for the
years ended June 30, 2003, 2002 and 2001 40
Notes to Consolidated Financial Statements 41-51
Fiscal 2003, 2002 and 2001 by Quarter (Unaudited) 52
(a) 2. Financial Statement Schedule Page in the
Form 10-K
-----------
Independent Auditors' Report 16
Schedule II - Valuation and Qualifying Accounts 17
14
All other schedules are omitted because they are inapplicable, not required
under the instructions, or the information is included in the consolidated
financial statements or notes thereto.
Separate financial statements for the Company's unconsolidated affiliated
companies, accounted for by the equity method, have been omitted because they
do not constitute significant subsidiaries.
(a) 3. Exhibits
The exhibits listed on the accompanying Index to Exhibits are filed or
incorporated herein as part of this Report.
(b) Reports on Form 8-K
Reports on Form 8-K were filed on:
April 16, 2003 containing:
1) a press release announcing its results of operations for the third fiscal
quarter and nine months ended March 31, 2003.
May 14, 2003 containing:
1) the certification under Section 906 of the Sarbanes-Oxley Act of 2002
"Corporate Responsibility for Financial Reports".
May 29, 2003 containing:
1) a press release announcing its intention to record a pretax charge in its
fiscal fourth quarter ending June 30, 2003 of approximately $38 to $40 million.
15
INDEPENDENT AUDITORS' REPORT
To the Board of Directors and
Shareholders of Molex Incorporated
Lisle, Illinois
We have audited the consolidated financial statements of Molex Incorporated
and its subsidiaries as of June 30, 2003 and 2002, and for each of the three
years in the period ended June 30, 2003, and have issued our report thereon
dated July 21, 2003; such financial statements and report are included in your
2003 Annual Report to Shareholders and are incorporated herein by reference.
Our audits also included the financial statement schedule of Molex Incorporated
and its subsidiaries, listed in Item 14(a)2. This financial statement schedule
is the responsibility of the Company's management. Our responsibility is to
express an opinion based on our audits. In our opinion, such financial
statement schedule, when considered in relation to the basic financial
statements taken as a whole, presents fairly in all material respects the
information set forth therein.
/S/ DELOITTE & TOUCHE LLP
Chicago, Illinois
July 21, 2003
16
Molex Incorporated
Schedule II - Valuation and Qualifying Accounts
For the Years Ended June 30, 2003, 2002, and 2001
Balance at Balance
Allowance for Losses Beginning Charged to Accounts Translation at End
and Adjustments: of Period Income Written Off Adjustments of Period
_________________ _________ _________ ___________ ___________ _________
2003
Receivables $ 18,692 $ 176 $ (978) $ 512 $ 18,402
Inventories 46,917 10,321 (18,597) 1,746 40,387
2002
Receivables $ 19,741 $ 237 $ (1,593) $ 307 $ 18,692
Inventories 67,445 19,418 (44,292) 4,346 46,917
2001
Receivables $23,712 $ (634) $ (1,329) $ (2,008) $ 19,741
Inventories 49,148 41,305 (20,066) (2,942) 67,445
17
MOLEX INCORPORATED EXHIBIT INDEX
Exhibit
Number Exhibit
- --------- ----------------------------------------------------
3 3.1 Certificate of Incorporation
(as amended and restated) (incorporated by
reference to 2000 Form 10-K, Exhibit 3.1)
3.2 By-laws (as amended and restated)
(incorporated by reference to 2000 Form 10-K,
Exhibit 3.2)
4 Instruments defining rights of security holders
including indentures. See Exhibit 3.1
10 Material Contracts
10.1 The Molex Deferred Compensation
Plan (incorporated by reference
to 1984 Form 10-K, Exhibit 10.6)
10.2 The 1990 Molex Incorporated
Executive Stock Bonus Plan
(as amended)(incorporated by reference
to 1998 Form 10-K, Exhibit 10.2)
10.3 The 1990 Molex Incorporated
Stock Option Plan (as amended)
(incorporated by reference
to 1998 Form 10-K, Exhibit 10.3)
10.4 The 1991 Molex Incorporated Incentive
Stock Option Plan (as amended) (incorporated
by reference to 1999 Form 10-K, Exhibit 10.4)
10.5 The 1998 Molex Incorporated
Stock Option Plan (incorporated by reference
to 1999 Form 10-K, Exhibit 10.5)
10.6 The 2000 Molex Incorporated
Incentive Stock Option Plan (incorporated by
reference to 2001 Form 10-K, Exhibit 10.6)
10.7 The 2000 Molex Incorporated
Executive Stock Bonus Plan (as amended)
(incorporated by reference to 2001 Form
10-K, Exhibit 10.7)
10.8 The 2000 Molex Incorporated
Long-Term Stock Plan (incorporated by
reference to 2001 Form 10-K, Exhibit 10.8)
18
Exhibit
Number Exhibit
- --------- ----------------------------------------------------
13 Molex Incorporated Annual report to
Shareholders for the year ended
June 30, 2003. (Such report, except
to the extent incorporated herein by
reference, is being furnished for the
information of the Securities and
Exchange Commission only and is not
to be deemed filed as a part of this
annual report on Form 10-K)
21 Subsidiaries of registrant
23 Independent Auditors' Consent
31 Rule 13a-14(a)/15d-14(a) Certifications
31.1 Section 302 certification by Chief
Executive Officer
31.2 Section 302 certification by Chief
Financial Officer
32 Section 1350 Certifications
32.1 Section 906 certification by chief
Executive Officer
32.2 Section 906 certification by Chief
Financial Officer
(All other exhibits are either inapplicable or not required)
19
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange
Act of 1934, the company has duly caused this annual Report to be signed on its
behalf by the undersigned, there unto duly authorized.
MOLEX INCORPORATED
(Company)
September 25, 2003 By: /S/ ROBERT B. MAHONEY
Robert B. Mahoney
Executive Vice President, Treasurer
and Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
September 25, 2003 Co-Chairman of the Board /S/ FREDERICK A. KREHBIEL
Frederick A. Krehbiel
September 25, 2003 Co-Chairman of the Board /S/ JOHN H. KREHBIEL, JR.
John H. Krehbiel, Jr.
September 25, 2003 Vice Chairman and Chief /S/ J. JOSEPH KING
Executive Officer
Director J. Joseph King
September 25, 2003 President and Chief
Operating Officer /S/ MARTIN P. SLARK
Director
Martin P. Slark
September 25, 2003 Executive Vice President, /S/ ROBERT B. MAHONEY
Treasurer and Chief
Financial Officer Robert B. Mahoney
September 25, 2003 Director /S/ FRED L. KREHBIEL
Fred L. Krehbiel
September 25, 2003 Director /S/ MICHAEL J. BIRCK
Michael J. Birck
September 25, 2003 Director /S/ DOUGLAS K. CARNAHAN
Douglas K. Carnahan
September 25, 2003 Director
Michelle L. Collins
September 25, 2003 Director /S/ EDGAR D. JANNOTTA
Edgar D. Jannotta
September 25, 2003 Director
Joe W. Laymon
September 25, 2003 Director /S/ DONALD G. LUBIN
Donald G. Lubin
September 25, 2003 Director /S/ MASAHISA NAITOH
Masahisa Naitoh
September 25, 2003 Director /S/ ROBERT J. POTTER
Robert J. Potter
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