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Summary    



Ten-Year Summary of Selected Financial Data
Years Ended September 30
Dollars in millions, except per-share amounts
  2004   2003   2002   2001   2000  
Operations
Revenues     $ 4,934.7       $ 4,463.5       $ 3,960.4    $ 3,667.6   $ 3,544.7  
Research and Development Expense   235.6     224.2     207.2     199.6     212.8  
Operating Income   787.3     761.2     674.5     632.5     507.4  
Interest Expense, Net   29.6     36.5     33.2     55.3     74.2  
Income From Continuing Operations
   Before Income Taxes   752.9     722.0     627.5     535.2 (C)   512.7  
Income Tax Provision   170.4     167.0     148.1     134.2     122.0  
Net Income   467.4     547.1     480.0     401.7 (A)   392.9  
Basic Earnings Per Share   1.85     2.14     1.85     1.55 (A)   1.54  
Diluted Earnings Per Share   1.77     2.07     1.79     1.49 (A)   1.49  
Dividends Per Common Share   .60     .40     .39     .38     .37  
 
Financial Position
Current Assets $ 2,641.3   $ 2,503.5   $ 2,091.4 (E) $ 1,930.1 (E) $ 1,847.6  
Current Liabilities   1,050.1     1,059.4     1,271.5 (E)   1,285.4 (E)   1,382.4  
Property, Plant and Equipment, Net   1,881.0     1,831.8     1,750.4     1,701.3     1,565.5  
Total Assets   5,752.6     5,572.3     5,029.0 (E)   4,790.8 (E)   4,505.1  
Long-Term Debt   1,171.5     1,184.0     803.0     782.8     778.5  
Shareholders’ Equity   3,067.9     2,897.0     2,480.9 (E)   2,321.7 (E)   1,956.0  
Book Value Per Common Share   12.30     11.54     9.71 (E)   8.96 (E)   7.72  
 
Financial Relationships
Gross Profit Margin   49.3 %   48.5 %   48.3 %   48.7 %   48.6 %
Return on Revenues(F)   11.8 %   12.4 %   12.1 %   11.9 %(C)   11.0 %
Return on Total Assets(B) (F)   14.1 %   14.4 %   13.6 %(E)   13.6 %(E)   13.4 %
Return on Equity(F)   19.5 %   20.6 %   20.0 %(E)   20.3 %(C)(E)   21.0 %
Debt to Capitalization(D) (F)   28.1 %   30.5 %   32.7 %(E)   34.0 %(E)   41.7 %
 
Additional Data
Number of Employees   25,000     24,800     25,200     24,800     25,000  
Number of Shareholders   9,654     9,868     10,050     10,329     10,822  
Average Common and Common
   Equivalent Shares Outstanding–
      Assuming Dilution (millions)   263.3     263.6     268.2     268.8     263.2  
Depreciation and Amortization $ 357.2   $ 335.8   $ 296.6   $ 293.2   $ 273.7  
Capital Expenditures   265.7     259.2     255.7     364.1     371.0  
 
 
Ten-Year Summary of Selected Financial Data
Years Ended September 30
Dollars in millions, except per-share amounts
  1999   1998   1997   1996   1995  
Operations
Revenues $ 3,412.6   $ 3,116.9   $ 2,810.5   $ 2,769.8   $ 2,712.5  
Research and Development Expense   220.7     217.9     180.6     154.2     144.2  
Operating Income   477.3     405.4     450.5     431.2     396.7  
Interest Expense, Net   72.0     56.3     39.4     37.4     42.8  
Income From Continuing Operations
   Before Income Taxes   404.8     340.9     422.6     393.7     349.6  
Income Tax Provision   96.9     104.3     122.6     110.2     97.9  
Net Income   275.7     236.6     300.1     283.4     251.7  
Basic Earnings Per Share   1.09     .95     1.21     1.10     .92  
Diluted Earnings Per Share   1.04     .90     1.15     1.05     .89  
Dividends Per Common Share   .34     .29     .26     .23     .21  
 
Financial Position
Current Assets $ 1,843.0   $ 1,542.8   $ 1,312.6   $ 1,276.8   $ 1,327.5  
Current Liabilities   1,358.6     1,091.9     678.2     766.1     720.0  
Property, Plant and Equipment, Net   1,423.9     1,302.7     1,250.7     1,244.1     1,281.0  
Total Assets   4,437.0     3,846.0     3,080.3     2,889.8     2,999.5  
Long-Term Debt   954.0     765.2     665.4     468.2     557.6  
Shareholders’ Equity   1,768.7     1,613.8     1,385.4     1,325.2     1,398.4  
Book Value Per Common Share   7.05     6.51     5.68     5.36     5.37  
 
Financial Relationships
Gross Profit Margin   49.9%     50.6%     49.7%     48.4%     47.0%  
Return on Revenues(F)   9.0%     7.6%     10.7%     10.2%     9.3%  
Return on Total Assets(B) (F)   11.6%     11.7%     15.9%     15.2%     13.3%  
Return on Equity(F)   18.2%     15.8%     22.1%     20.8%     17.5%  
Debt to Capitalization(D) (F)   47.6%     41.4%     36.3%     34.3%     35.2%  
 
Additional Data
Number of Employees   24,000     21,700     18,900     17,900     18,100  
Number of Shareholders   11,433     9,784     8,944     8,027     7,712  
Average Common and Common
   Equivalent Shares Outstanding–
      Assuming Dilution (millions)   264.6     262.1     259.6     267.6     280.4  
Depreciation and Amortization $ 257.8   $ 228.7   $ 209.8   $ 200.5   $ 207.8  
Capital Expenditures   311.4     181.4     170.3     145.9     123.8  


(A)   Includes cumulative effect of accounting change of $36.8 ($.14 per basic and diluted share).
(B)   Earnings before interest expense, taxes and cumulative effect of accounting changes as a percent of average total assets.
(C)   Excludes the cumulative effect of accounting changes.
(D)   Total debt as a percent of the sum of total debt, shareholders’ equity and net non-current deferred income tax liabilities.
(E)   Restated to reflect the change from the LIFO to FIFO inventory valuation method in 2003.
(F)   Excludes discontinued operations in 1999 to 2004.



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