Outlook for debt/cash
Cash position of $179.7 million at end of 1Q 2006
- Decline from December 31 primarily result of payments in first quarter for share repurchases
As part of 18.4 million shares repurchased during 1Q 2006, acquired 8.4 million shares of MHP’s common stock from estate of William H. McGraw
- Shares purchased at discount of approximately 2.4% from March 30, 2006 NYSE closing price
- Transaction settled on April 5, 2006 at $468.8 million
- Issued commercial paper to fund purchase