Financial Statements

Consolidated Statements of Income
Years Ended September 30
Thousands of dollars, except per-share amounts

		2003			2002			2001
Operations
Revenues	$	4,527,940		$	4,033,069		$	3,746,182
Cost of products sold		2,336,290			2,083,669			1,913,292
Selling and administrative expense		1,207,464			1,032,043			983,296
Research and development expense		235,060			220,186			211,834
Special charges		—			21,508			—
Total Operating Costs and Expenses		3,778,814			3,357,406			3,108,422
Operating Income		749,126			675,663			637,760
Interest expense, net		(36,560	)		(33,304	)		(55,414	)
Other expense, net		(2,860	)		(13,770	)		(5,596	)
Income Before Income Taxes and Cumulative
Effect of Change in Accounting Principle		709,706			628,589			576,750
Income tax provision		162,650			148,607			138,348
Income Before Cumulative Effect of Change in Accounting Principle		547,056			479,982			438,402
Cumulative effect of change in accounting principle, net of tax		—			—			(36,750	)
Net Income	$	547,056		$	479,982		$	401,652
Basic Earnings Per Share
Before Cumulative Effect of Change in Accounting Principle	$	2.14		$	1.85		$	1.69
Cumulative effect of change in accounting principle, net of tax		—			—			(0.14	)
Basic Earnings Per Share	$	2.14		$	1.85		$	1.55
Diluted Earnings Per Share
Before Cumulative Effect of Change in Accounting Principle	$	2.07		$	1.79		$	1.63
Cumulative effect of change in accounting principle, net of tax		—			—			(0.14	)
Diluted Earnings Per Share	$	2.07		$	1.79		$	1.49