Years Ended December 31   Select Income Statement Items: 2004   2003 Pro Forma Sales $12,011    $11,308    Operating income $      583    $      579    As a % of sales 4.9%   5.1%   Net interest expense $      252    $      327  Debt retirement expenses 173  -    Net earnings $        29    $        93    Net earnings excluding debt retirement expenses 173  NC             Common Stock Data:         Weighted average diluted shares 100.5    90.4    Net earnings per diluted share $     0.29    $     1.03    Net earnings excluding debt retirement expenses per diluted share 1.72  NC              Capital Structure:         Cash and marketable securities $      809    $      844    Gross debt 3,181    3,808    Net debt (cash and marketable securities less gross debt) 2,372    2,964    Capital expenditures 493    416    (NC - No Change) Pro forma for effects of the acquisition and the Company's July 2003 refinancing. See page R-1 of the Reconciliation Section after the Report on Form 10-K herein for a reconciliation of pro forma information to the closest GAAP measurement. For the two-month period prior to the acquisition, ended February 28, 2003, the predecessor company reported sales of $1.9 billion, operating income of $97 million and net earnings of $31 million. For the ten-month period ended December 31, 2003, the Company reported sales of $9.4 billion, operating income of $340 million and net losses of $101 million or $(1.16) per share based on 86.8 million shares. Includes loss on sale of receivables of $8 million. See page R-2 of the Reconciliation Section after the Report on Form 10-K herein for detail of the components included in debt retirement expenses and a reconciliation to the closest GAAP measurement.             Back to top