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Ten-Year Summary of Selected Financial Data
Years Ended September 30
Dollars in millions, except per-share amounts
2002 2001 2000 1999 1998
 

Operations
Revenues

$4,033.1 $3,746.2 $3,618.3 $3,418.4 $3,116.9
Research and Development Expense 220.2 211.8 223.8 254.0 217.9
Operating Income 675.7 637.8 514.8 445.2 405.4
Interest Expense, Net 33.3 55.4 74.2 72.1 56.3
Income Before Income Taxes and
   Cumulative Effect of Accounting Changes
628.6 576.8 519.9 372.7 340.9
Income Tax Provision 148.6 138.3 127.0 96.9 104.3
Net Income 480.0 401.7(A) 392.9 275.7 236.6
Basic Earnings Per Share 1.85 1.55(A) 1.54 1.09 .95
Diluted Earnings Per Share 1.79 1.49(A) 1.49 1.04 .90
Dividends Per Common Share .39 .38 .37 .34 .29
 

Financial Position
Current Assets

$1,928.7 $1,762.9 $1,660.7 $1,683.7 $1,542.8
Current Liabilities 1,252.5 1,264.7 1,353.5 1,329.3 1,091.9
Property, Plant and Equipment, Net 1,765.7 1,716.0 1,576.1 1,431.1 1,302.7
Total Assets 5,040.5 4,802.3 4,505.1 4,437.0 3,846.0
Long-Term Debt 803.0 783.0 779.6 954.2 765.2
Shareholders' Equity 2,488.0 2,328.8 1,956.0 1,768.7 1,613.8
Book Value Per Common Share 9.74 8.98 7.72 7.05 6.51
 

Financial Relationships
Gross Profit Margin

48.3% 48.9% 48.9% 49.9% 50.6%
Return on Revenues 11.9% 11.7%(D) 10.9% 8.1% 7.6%
Return on Total Assets(C) 13.6% 13.7% 13.6% 10.9% 11.7%
Return on Equity 19.9% 20.3%(D) 21.1% 16.3% 15.8%
Debt to Capitalization(E) 32.5% 34.1% 41.4% 47.2% 41.4%
 

Additional Data
Number of Employees

25,200 24,800 25,000 24,000 21,700
Number of Shareholders 10,050 10,329 10,822 11,433 9,784
Average Common and Common
   Equivalent Shares Outstanding-
      Assuming Dilution (millions)
268.2 268.8 263.2 264.6 262.1
Depreciation and Amortization $   304.6 $   305.7 $   288.3 $   258.9 $   228.7
Capital Expenditures 259.7 370.8 376.4 311.5 181.4
 
 
1997 1996 1995 1994 1993
 

Operations
Revenues

$2,810.5 $2,769.8 $2,712.5 $2,559.5 $2,465.4
Research and Development Expense 180.6 154.2 144.2 144.2 139.1
Operating Income 450.5 431.2 396.7 325.0 270.4
Interest Expense, Net 39.4 37.4 42.8 47.6 53.4
Income Before Income Taxes and
   Cumulative Effect of Accounting Changes
422.6 393.7 349.6 296.2 222.9
Income Tax Provision 122.6 110.2 97.9 69.0 10.1
Net Income 300.1 283.4 251.7 227.2 71.8(B)
Basic Earnings Per Share 1.21 1.10 .92 .77 .22(B)
Diluted Earnings Per Share 1.15 1.05 .89 .76 .22(B)
Dividends Per Common Share .26 .23 .21 .19 .17
 

Financial Position
Current Assets

$1,312.6 $1,276.8 $1,327.5 $1,326.6 $1,150.7
Current Liabilities 678.2 766.1 720.0 678.3 636.1
Property, Plant and Equipment, Net 1,250.7 1,244.1 1,281.0 1,376.3 1,403.1
Total Assets 3,080.3 2,889.8 2,999.5 3,159.5 3,087.6
Long-Term Debt 665.4 468.2 557.6 669.2 680.6
Shareholders' Equity 1,385.4 1,325.2 1,398.4 1,481.7 1,457.0
Book Value Per Common Share 5.68 5.36 5.37 5.27 4.88
 

Financial Relationships
Gross Profit Margin

49.7% 48.4% 47.0% 45.3% 44.5%
Return on Revenues 10.7% 10.2% 9.3% 8.9% 8.6%(D)
Return on Total Assets(C) 15.9% 15.2% 13.3% 11.5% 9.2%
Return on Equity 22.1% 20.8% 17.5% 15.5% 13.3%(D)
Debt to Capitalization(E) 36.3% 34.3% 35.2% 36.1% 37.8%
 

Additional Data
Number of Employees

18,900 17,900 18,100 18,600 19,000
Number of Shareholders 8,944 8,027 7,712 7,489 7,463
Average Common and Common
   Equivalent Shares Outstanding-
      Assuming Dilution (millions)
259.6 267.6 280.4 298.6 313.2
Depreciation and Amortization $   209.8 $   200.5 $   207.8 $   203.7 $   189.8
Capital Expenditures 170.3 145.9 123.8 123.0 184.2

(A)Includes cumulative effect of accounting change of $36.8 ($.14 per basic and diluted share).
(B)Includes cumulative effect of accounting changes of $141.1 ($.47 per basic share; $.45 per diluted share).
(C)Earnings before interest expense, taxes and cumulative effect of accounting changes as a percent of average total assets.
(D)Excludes the cumulative effect of accounting changes.
(E)Total debt as a percent of the sum of total debt, shareholders' equity and net non-current deferred income tax liabilities.


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