Ten-Year Summary of Selected Financial Data
Years Ended September 30
Dollars in millions, except per-share amounts
| 2002 |
| 2001 |
| 2000 |
| 1999 |
| 1998 |
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|
Operations
Revenues |
$4,033.1 | |
$3,746.2 | |
$3,618.3 | |
$3,418.4 | |
$3,116.9 |
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| Research and Development Expense |
220.2 | |
211.8 | |
223.8 | |
254.0 | |
217.9 |
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| Operating Income |
675.7 | |
637.8 | |
514.8 | |
445.2 | |
405.4 |
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| Interest Expense, Net |
33.3 | |
55.4 | |
74.2 | |
72.1 | |
56.3 |
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Income Before Income Taxes and
Cumulative Effect of Accounting Changes |
628.6 | |
576.8 | |
519.9 | |
372.7 | |
340.9 |
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| Income Tax Provision |
148.6 | |
138.3 | |
127.0 | |
96.9 | |
104.3 |
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| Net Income |
480.0 | |
401.7 | (A) |
392.9 | |
275.7 | |
236.6 |
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| Basic Earnings Per Share |
1.85 | |
1.55 | (A) |
1.54 | |
1.09 | |
.95 |
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| Diluted Earnings Per Share |
1.79 | |
1.49 | (A) |
1.49 | |
1.04 | |
.90 |
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| Dividends Per Common Share |
.39 | |
.38 | |
.37 | |
.34 | |
.29 |
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| Financial Position
Current Assets |
$1,928.7 | |
$1,762.9 | |
$1,660.7 | |
$1,683.7 | |
$1,542.8 |
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| Current Liabilities |
1,252.5 | |
1,264.7 | |
1,353.5 | |
1,329.3 | |
1,091.9 |
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| Property, Plant and Equipment, Net |
1,765.7 | |
1,716.0 | |
1,576.1 | |
1,431.1 | |
1,302.7 |
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| Total Assets |
5,040.5 | |
4,802.3 | |
4,505.1 | |
4,437.0 | |
3,846.0 |
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| Long-Term Debt |
803.0 | |
783.0 | |
779.6 | |
954.2 | |
765.2 |
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| Shareholders' Equity |
2,488.0 | |
2,328.8 | |
1,956.0 | |
1,768.7 | |
1,613.8 |
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| Book Value Per Common Share |
9.74 | |
8.98 | |
7.72 | |
7.05 | |
6.51 |
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| Financial Relationships
Gross Profit Margin |
48.3 | % |
48.9 | % |
48.9 | % |
49.9 | % |
50.6 | % |
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| Return on Revenues |
11.9 | % |
11.7 | %(D) |
10.9 | % |
8.1 | % |
7.6 | % |
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| Return on Total Assets(C) |
13.6 | % |
13.7 | % |
13.6 | % |
10.9 | % |
11.7 | % |
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| Return on Equity |
19.9 | % |
20.3 | %(D) |
21.1 | % |
16.3 | % |
15.8 | % |
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| Debt to Capitalization(E) |
32.5 | % |
34.1 | % |
41.4 | % |
47.2 | % |
41.4 | % |
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| Additional Data
Number of Employees |
25,200 | |
24,800 | |
25,000 | |
24,000 | |
21,700 |
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| Number of Shareholders |
10,050 | |
10,329 | |
10,822 | |
11,433 | |
9,784 |
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Average Common and Common
Equivalent Shares Outstanding-
Assuming Dilution (millions) |
268.2 | |
268.8 | |
263.2 | |
264.6 | |
262.1 |
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| Depreciation and Amortization |
$ 304.6 | |
$ 305.7 | |
$ 288.3 | |
$ 258.9 | |
$ 228.7 |
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| Capital Expenditures |
259.7 | |
370.8 | |
376.4 | |
311.5 | |
181.4 |
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|
| 1997 |
| 1996 |
| 1995 |
| 1994 |
| 1993 |
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|
Operations
Revenues |
$2,810.5 | |
$2,769.8 | |
$2,712.5 | |
$2,559.5 | |
$2,465.4 |
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| Research and Development Expense |
180.6 | |
154.2 | |
144.2 | |
144.2 | |
139.1 |
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| Operating Income |
450.5 | |
431.2 | |
396.7 | |
325.0 | |
270.4 |
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| Interest Expense, Net |
39.4 | |
37.4 | |
42.8 | |
47.6 | |
53.4 |
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Income Before Income Taxes and
Cumulative Effect of Accounting Changes |
422.6 | |
393.7 | |
349.6 | |
296.2 | |
222.9 |
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| Income Tax Provision |
122.6 | |
110.2 | |
97.9 | |
69.0 | |
10.1 |
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| Net Income |
300.1 | |
283.4 | |
251.7 | |
227.2 | |
71.8 | (B) |
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| Basic Earnings Per Share |
1.21 | |
1.10 | |
.92 | |
.77 | |
.22 | (B) |
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| Diluted Earnings Per Share |
1.15 | |
1.05 | |
.89 | |
.76 | |
.22 | (B) |
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| Dividends Per Common Share |
.26 | |
.23 | |
.21 | |
.19 | |
.17 |
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| Financial Position
Current Assets |
$1,312.6 | |
$1,276.8 | |
$1,327.5 | |
$1,326.6 | |
$1,150.7 |
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| Current Liabilities |
678.2 | |
766.1 | |
720.0 | |
678.3 | |
636.1 |
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| Property, Plant and Equipment, Net |
1,250.7 | |
1,244.1 | |
1,281.0 | |
1,376.3 | |
1,403.1 |
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| Total Assets |
3,080.3 | |
2,889.8 | |
2,999.5 | |
3,159.5 | |
3,087.6 |
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| Long-Term Debt |
665.4 | |
468.2 | |
557.6 | |
669.2 | |
680.6 |
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| Shareholders' Equity |
1,385.4 | |
1,325.2 | |
1,398.4 | |
1,481.7 | |
1,457.0 |
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| Book Value Per Common Share |
5.68 | |
5.36 | |
5.37 | |
5.27 | |
4.88 |
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| Financial Relationships
Gross Profit Margin |
49.7 | % |
48.4 | % |
47.0 | % |
45.3 | % |
44.5 | % |
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| Return on Revenues |
10.7 | % |
10.2 | % |
9.3 | % |
8.9 | % |
8.6 | %(D) |
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| Return on Total Assets(C) |
15.9 | % |
15.2 | % |
13.3 | % |
11.5 | % |
9.2 | % |
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| Return on Equity |
22.1 | % |
20.8 | % |
17.5 | % |
15.5 | % |
13.3 | %(D) |
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| Debt to Capitalization(E) |
36.3 | % |
34.3 | % |
35.2 | % |
36.1 | % |
37.8 | % |
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| Additional Data
Number of Employees |
18,900 | |
17,900 | |
18,100 | |
18,600 | |
19,000 |
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| Number of Shareholders |
8,944 | |
8,027 | |
7,712 | |
7,489 | |
7,463 |
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Average Common and Common
Equivalent Shares Outstanding-
Assuming Dilution (millions) |
259.6 | |
267.6 | |
280.4 | |
298.6 | |
313.2 |
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| Depreciation and Amortization |
$ 209.8 | |
$ 200.5 | |
$ 207.8 | |
$ 203.7 | |
$ 189.8 |
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| Capital Expenditures |
170.3 | |
145.9 | |
123.8 | |
123.0 | |
184.2 |
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| (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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