First Quarter Balance Sheet

FY01 FY00

Net Assets

Operating W/C $3,174 $2,907

Fixed Assets 552 543

Goodwill 1,170 1,196

Other Liabilities - Net (322) (128)

$4,574 $4,518

Net Capital

Debt $1,252 $1,720

Cash (490) (356)

Net Debt 762 1,364

Trust Convertible 196 196

Common Equity 3,616 2,958

$4,574 $4,518

Net Debt/Capital 17% 30%

($ in millions)