| (in millions, except per share data and financial
ratios)
|
| YEAR ENDED MAY 31,
| 1999
| 1998
| 1997
| 1996
| 1995
| 1994
| 1993
| 1992
| 1991
| 1990
| 1989
|
| Revenues
| $8,776.9
| $9,553.1
| $9,186.5
| $6,470.6
| $4,760.8
| $3,789.7
| $3,931.0
| $3,405.2
| $3,003.6
| $2,235.2
| $1,710.8
|
| Gross margin
| 3,283.4
| 3,487.6
| 3,683.5
| 2,563.9
| 1,895.6
| 1,488.2
| 1,544.0
| 1,316.1
| 1,153.1
| 851.1
| 636.0
|
| Gross margin %
| 37.4%
| 36.5%
| 40.1%
| 39.6%
| 39.8%
| 39.3%
| 39.3%
| 38.7%
| 38.4%
| 38.1%
| 37.2%
|
| Restructuring charge
| 45.1
| 129.9
| –
| –
| –
| –
| –
| –
| –
| –
| –
|
| Net income
| 451.4
| 399.6
| 795.8
| 553.2
| 399.7
| 298.8
| 365.0
| 329.2
| 287.0
| 243.0
| 167.0
|
| Basic earnings per common share
| 1.59
| 1.38
| 2.76
| 1.93
| 1.38
| 1.00
| 1.20
| 1.09
| 0.96
| 0.81
| 0.56
|
| Diluted earnings per common share
| 1.57
| 1.35
| 2.68
| 1.88
| 1.36
| 0.99
| 1.18
| 1.07
| 0.94
| 0.80
| 0.56
|
| Average common shares outstanding
| 283.3
| 288.7
| 288.4
| 286.6
| 289.6
| 298.6
| 302.9
| 301.7
| 300.4
| 299.1
| 297.7
|
| Diluted average common shares outstanding
| 288.3
| 295.0
| 297.0
| 293.6
| 294.0
| 301.8
| 308.3
| 306.4
| 304.3
| 302.7
| 300.6
|
| Cash dividends declared per common share
| 0.48
| 0.46
| 0.38
| 0.29
| 0.24
| 0.20
| 0.19
| 0.15
| 0.13
| 0.10
| 0.07
|
| Cash flow from operations
| 961.0
| 517.5
| 323.1
| 339.7
| 254.9
| 576.5
| 265.3
| 435.8
| 11.1
| 127.1
| 169.4
|
| Price range of common stock
|
| High
| 65.500
| 64.125
| 76.375
| 52.063
| 20.156
| 18.688
| 22.563
| 19.344
| 13.625
| 10.375
| 4.969
|
| Low
| 31.750
| 37.750
| 47.875
| 19.531
| 14.063
| 10.781
| 13.750
| 8.781
| 6.500
| 4.750
| 2.891
|
| MAY 31,
|
| Cash and equivalents
| $198.1
| $108.6
| $445.4
| $262.1
| $216.1
| $518.8
| $291.3
| $260.1
| $119.8
| $90.4
| $85.7
|
| Inventories
| 1,199.3
| 1,396.6
| 1,338.6
| 931.2
| 629.7
| 470.0
| 593.0
| 471.2
| 586.6
| 309.5
| 222.9
|
| Working capital
| 1,818.0
| 1,828.8
| 1,964.0
| 1,259.9
| 938.4
| 1,208.4
| 1,165.2
| 964.3
| 662.6
| 561.6
| 419.6
|
| Total assets
| 5,247.7
| 5,397.4
| 5,361.2
| 3,951.6
| 3,142.7
| 2,373.8
| 2,186.3
| 1,871.7
| 1,707.2
| 1,093.4
| 824.2
|
| Long-term debt
| 386.1
| 379.4
| 296.0
| 9.6
| 10.6
| 12.4
| 15.0
| 69.5
| 30.0
| 25.9
| 34.1
|
| Redeemable Preferred Stock
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
| 0.3
|
| Shareholders' equity
| 3,334.6
| 3,261.6
| 3,155.9
| 2,431.4
| 1,964.7
| 1,740.9
| 1,642.8
| 1,328.5
| 1,029.6
| 781.0
| 558.6
|
| Year-end stock price
| 60.938
| 46.000
| 57.500
| 50.188
| 19.719
| 14.750
| 18.125
| 14.500
| 9.938
| 9.813
| 4.750
|
| Market capitalization
| 17,202.2
| 13,201.1
| 16,633.0
| 14,416.8
| 5,635.2
| 4,318.8
| 5,499.3
| 4,379.6
| 2,993.0
| 2,942.7
| 1,417.4
|
| FINANCIAL RATIOS
|
| Return on equity
| 13.7%
| 12.5%
| 28.5%
| 25.2%
| 21.6%
| 17.7%
| 24.5%
| 27.9%
| 31.7%
| 36.3%
| 34.5%
|
| Return on assets
| 8.5%
| 7.4%
| 17.1%
| 15.6%
| 14.5%
| 13.1%
| 18.0%
| 18.4%
| 20.5%
| 25.3%
| 21.8%
|
| Inventory turns
| 4.2
| 4.4
| 4.8
| 5.0
| 5.2
| 4.3
| 4.5
| 3.9
| 4.1
| 5.2
| 5.1
|
| Current ratio at May 31
| 2.3
| 2.1
| 2.1
| 1.9
| 1.8
| 3.2
| 3.6
| 3.3
| 2.1
| 3.1
| 2.9
|
| Price/Earnings ratio at May 31 (Diluted)
| 38.8
| 34.1
| 21.5
| 26.6
| 14.5
| 14.9
| 15.3
| 13.5
| 10.5
| 12.2
| 8.6
|
| GEOGRAPHIC REVENUES
|
| United States
| $5,042.6
| $5,460.0
| $5,538.2
| $3,964.7
| $2,997.9
| $2,432.7
| $2,528.8
| $2,270.9
| $2,141.5
| $1,755.5
| $1,362.2
|
| Europe
| 2,255.8
| 2, 096.1
| 1,789.8
| 1,334.3
| 980.4
| 927.3
| 1,085.7
| 919.8
| 664.7
| 334.3
| 241.4
|
| Asia Pacific
| 844.5
| 1,253.9
| 1,241.9
| 735.1
| 515.6
| 283.4
| 178.2
| 75.7
| 56.2
| 29.3
| 32.0
|
| Americas (exclusive of United States)
| 634.0
| 743.1
| 616.6
| 436.5
| 266.9
| 146.3
| 138.3
| 138.8
| 141.2
| 116.1
| 75.2
|
| Total Revenues
| $8,776.9
| $9,553.1
| $9,186.5
| $6,470.6
| $4,760.8
| $3,789.7
| $3,931.0
| $3,405.2
| $3,003.6
| $2,235.2
| $1,710.8
|
