There seem to be three major reasons for the record-setting U.S. box-office take -- $8.35 billion, as compared with $7.7 billion in 2000.

One, the year began with a strong first quarter, benefiting from good business for 2000 holdovers such as "Cast Away," "Traffic," "Crouching Tiger, Hidden Dragon" and "What Women Want." Strong performances by such entries as "Hannibal" -- which was expected to do well -- and surprise hits such as "Save the Last Dance," "Spy Kids," "Exit Wounds" and "The Wedding Planner" helped get the box office off to a running start.

The second major plus for the movie business came during the always-profitable summer season, which got off to an earlier than usual start with the May 4 release of "The Mummy Returns." The sequel to the 1999 hit, "The Mummy," took in $202 million, good for No. 37 on the list of all-time U.S. box-office hits.

From there on, the summer and fall release schedule featured an unusually long string of blockbusters -- with six of the year's releases landing in the top 50.

"Shrek," released on May 18, rose to No. 13 on the all-time list with a gross of $267.7. "Pearl Harbor," released on May 25, fell short of expectations but still took in $198.5 million, good for No. 39 on the all-time list.

The summer release schedule produced big numbers from "Planet of the Apes," Jurassic Park III," "Lara Croft: Tomb Raider" and "Dr. Dolittle 2" -- and spectacular numbers from "Rush Hour 2," which grossed $226.1 million and climbed to No. 27 on the all-time list.

All this occurred after a period of great anxiety for the movie business earlier in the year, when producers negotiated new labor contracts for actors and writers.

In anticipation of possible strikes, Hollywood accelerated production in advance of the contract talks. Once the new contracts were in place, the pace of production slowed considerably because there was so much product on the shelf.

None of that mattered much to movie fans, who continued to spend money on tickets at a record-setting pace.

Although the overall U.S. economy was faltering, the box office was moving right along right through the end of summer -- with items like "The Fast and the Furious" and "The Others" joining the list of pleasant box-office surprises.

Then came Sept. 11, and Hollywood once again was overcome by anxiety.

Continuing a long tradition of seeking diversion during tough times -- and with President Bush and other national leaders exhorting Americans to act naturally in the aftermath of the terrorist attacks on New York and Washington, D.C. -- movie fans continued to turn up at theaters post-Sept. 11.

Box-office analysts noted that movie attendance between Sept. 11 and Dec. 26 was actually up compared to the same period in 2000 -- with revenues up 5 percent and attendance up 2 percent.

"Don't Say a Word," "Zoolander" and "Training Day" posted more than respectable numbers, and gave the movie exhibition business a chance to catch its breath and regain its footing as the countdown continued toward the most highly anticipated movie release of 2001 -- "Harry Potter and the Sorcerer's Stone."

The first movie version of J.K. Rowling's series of books about a boy wizard's spectacularly dangerous life took over the marketplace, but not before "Monsters, Inc." got the Christmas holiday movie season off to its earliest start with a Nov. 2 release. The newest computer animated entry from Disney-Pixar has grossed $236.3 million so far, and holds No. 23 on the all-time list.

"Harry Potter and the Sorcerer's Stone" opened on a record number of screens on Nov. 16, and became the biggest grosser of the year with $286.1 million as of Sunday -- becoming the biggest hit of 2001 and climbing to No. 12 on the all-time list.

"The Lord of the Rings: The Fellowship of the Ring" has already grossed $154.5 million in two weeks in release, and is on track to make the top 50 list in another two weeks or so. As it is, "Lord of the Rings" stands as the 10th biggest hit of 2001 after just two weeks in release.

According to conventional wisdom, when business is good nothing is bad.

However, the strong box-office numbers are not enough to persuade critics that the movies themselves were worthwhile. In what has become a predictable end-of-year chorus, critics are once again proclaiming the class of '01 substandard.

With the notable exceptions of "Lord of the Rings," "Monsters, Inc.," "Shrek" and a handful of other titles, the folks who watch and write about movies for a living have been very stingy with their praise while handing out failing grades as a matter of routine.

The awards season has yet to identify anything like a consensus on leading contenders for the gold standard of movie awards, the Oscars.

Among the major studio releases, "A Beautiful Mind," "Gosford Park," "The Lord of the Rings" "The Man Who Wasn't There" and "Moulin Rouge" come closest to being Oscar favorites. Among independent productions, "In the Bedroom," "Ghost World," "Iris," "Memento," "Mulholland Drive" and "Memento" have gained the most favor in the voting thus far by critics' groups.

Unlike last year, when "Gladiator" seemed to have the inside track for Academy Awards glory, no clear favorite has emerged.

The Golden Globe Awards may provide something of a signpost. The Directors Guild of America's annual awards normally provide a strong indicator of the eventual Oscar-winner for directing. Likewise, the Producers Guild of America awards have come to reflect, as a general rule, the eventual winner for the biggest prize on the Oscar table -- best picture.

The Hollywood trade papers are loving the situation, as they anticipate a spending spree by studios and artist management teams -- on ads intended to promote their favorite movies and performances between now and March 24. That's when the 74th Annual Academy Awards will be handed out at Oscar's new permanent home, the Kodak Theatre in Hollywood.