| Ten-Year Summary of Selected Financial Data |
| Years Ended September 30 |
| Dollars in millions, except per-share amounts |
| |
| |
2005 |
2004 |
2003 |
2002 |
2001 |
 |
| |
| Operations |
| Revenues |
$ |
5,414.7 |
|
$ |
4,934.7 |
|
$ |
4,463.5 |
|
$ |
3,960.4 |
|
$ |
3,667.6 |
|
| Research and Development Expense |
|
271.6 |
|
|
235.6 |
|
|
224.2 |
|
|
207.2 |
|
|
199.6 |
|
| Operating Income |
|
1,031.2 |
|
|
787.3 |
|
|
761.2 |
|
|
674.5 |
|
|
632.5 |
|
| Interest Expense, Net |
|
19.3 |
|
|
29.6 |
|
|
36.5 |
|
|
33.2 |
|
|
55.3 |
|
| Income From Continuing Operations |
| Before Income Taxes |
|
1,004.9 |
|
|
752.9 |
|
|
722.0 |
|
|
627.5 |
|
|
535.2 |
(A) |
| Income Tax Provision |
|
312.6 |
|
|
170.4 |
|
|
167.0 |
|
|
148.1 |
|
|
134.2 |
|
| Net Income |
|
722.3 |
|
|
467.4 |
|
|
547.1 |
|
|
480.0 |
|
|
401.7 |
(A) |
| Basic Earnings Per Share |
|
2.87 |
|
|
1.85 |
|
|
2.14 |
|
|
1.85 |
|
|
1.55 |
(A) |
| Diluted Earnings Per Share |
|
2.77 |
|
|
1.77 |
|
|
2.07 |
|
|
1.79 |
|
|
1.49 |
(A) |
| Dividends Per Common Share |
|
.72 |
|
|
.60 |
|
|
.40 |
|
|
.39 |
|
|
.38 |
|
| |
| Financial Position |
| Current Assets |
$ |
2,975.3 |
|
$ |
2,641.3 |
|
$ |
2,503.5 |
|
$ |
2,091.4 |
|
$ |
1,930.1 |
|
| Current Liabilities |
|
1,299.4 |
|
|
1,050.1 |
|
|
1,059.4 |
|
|
1,271.5 |
|
|
1,285.4 |
|
| Property, Plant and Equipment, Net |
|
1,933.7 |
|
|
1,881.0 |
|
|
1,831.8 |
|
|
1,750.4 |
|
|
1,701.3 |
|
| Total Assets |
|
6,072.0 |
|
|
5,752.6 |
|
|
5,572.3 |
|
|
5,029.0 |
|
|
4,790.8 |
|
| Long-Term Debt |
|
1,060.8 |
|
|
1,171.5 |
|
|
1,184.0 |
|
|
803.0 |
|
|
782.8 |
|
| Shareholders’ Equity |
|
3,284.0 |
|
|
3,067.9 |
|
|
2,897.0 |
|
|
2,480.9 |
|
|
2,321.7 |
|
| Book Value Per Common Share |
|
13.26 |
|
|
12.30 |
|
|
11.54 |
|
|
9.71 |
|
|
8.96 |
|
| |
| Financial Relationships |
| Gross Profit Margin |
|
50.8% |
|
|
49.3 |
% |
|
48.5 |
% |
|
48.3 |
% |
|
48.7 |
% |
| Return on Revenues(E) |
|
12.8% |
|
|
11.8 |
% |
|
12.4 |
% |
|
12.1 |
% |
|
11.9 |
%(C) |
| Return on Total Assets(B)(E) |
|
17.9% |
|
|
14.1 |
% |
|
14.4 |
% |
|
13.6 |
% |
|
13.6 |
% |
| Return on Equity(E) |
|
21.8% |
|
|
19.5 |
% |
|
20.6 |
% |
|
20.0 |
% |
|
20.3 |
%(C) |
| Debt to Capitalization(D)(E) |
|
27.3% |
|
|
28.1 |
% |
|
30.5 |
% |
|
32.7 |
% |
|
34.0 |
% |
| |
| Additional Data |
| Number of Employees |
|
25,600 |
|
|
25,000 |
|
|
24,800 |
|
|
25,200 |
|
|
24,800 |
|
| Number of Shareholders |
|
9,442 |
|
|
9,654 |
|
|
9,868 |
|
|
10,050 |
|
|
10,329 |
|
| Average Common and Common |
| Equivalent Shares Outstanding– |
| Assuming Dilution (millions) |
|
260.7 |
|
|
263.3 |
|
|
263.6 |
|
|
268.2 |
|
|
268.8 |
|
| Depreciation and Amortization |
$ |
387.5 |
|
$ |
357.2 |
|
$ |
335.8 |
|
$ |
296.6 |
|
$ |
293.2 |
|
| Capital Expenditures |
|
317.6 |
|
|
265.7 |
|
|
259.2 |
|
|
255.7 |
|
|
364.1 |
|
|
| |
2000 |
1999 |
1998 |
1997 |
1996 |
|
| |
| Operations |
| Revenues |
$ |
3,544.7 |
|
$ |
3,412.6 |
|
$ |
3,116.9 |
|
$ |
2,810.5 |
|
$ |
2,769.8 |
|
| Research and Development Expense |
|
212.8 |
|
|
220.7 |
|
|
217.9 |
|
|
180.6 |
|
|
154.2 |
|
| Operating Income |
|
507.4 |
|
|
477.3 |
|
|
405.4 |
|
|
450.5 |
|
|
431.2 |
|
| Interest Expense, Net |
|
74.2 |
|
|
72.0 |
|
|
56.3 |
|
|
39.4 |
|
|
37.4 |
|
| Income From Continuing Operations |
| Before Income Taxes |
|
512.7 |
|
|
404.8 |
|
|
340.9 |
|
|
422.6 |
|
|
393.7 |
|
| Income Tax Provision |
|
122.0 |
|
|
96.9 |
|
|
104.3 |
|
|
122.6 |
|
|
110.2 |
|
| Net Income |
|
392.9 |
|
|
275.7 |
|
|
236.6 |
|
|
300.1 |
|
|
283.4 |
|
| Basic Earnings Per Share |
|
1.54 |
|
|
1.09 |
|
|
.95 |
|
|
1.21 |
|
|
1.10 |
|
| Diluted Earnings Per Share |
|
1.49 |
|
|
1.04 |
|
|
.90 |
|
|
1.15 |
|
|
1.05 |
|
| Dividends Per Common Share |
|
.37 |
|
|
.34 |
|
|
.29 |
|
|
.26 |
|
|
.23 |
|
| |
| Financial Position |
| Current Assets |
$ |
1,847.6 |
|
$ |
1,843.0 |
|
$ |
1,542.8 |
|
$ |
1,312.6 |
|
$ |
1,276.8 |
|
| Current Liabilities |
|
1,382.4 |
|
|
1,358.6 |
|
|
1,091.9 |
|
|
678.2 |
|
|
766.1 |
|
| Property, Plant and Equipment, Net |
|
1,565.5 |
|
|
1,423.9 |
|
|
1,302.7 |
|
|
1,250.7 |
|
|
1,244.1 |
|
| Total Assets |
|
4,505.1 |
|
|
4,437.0 |
|
|
3,846.0 |
|
|
3,080.3 |
|
|
2,889.8 |
|
| Long-Term Debt |
|
778.5 |
|
|
954.0 |
|
|
765.2 |
|
|
665.4 |
|
|
468.2 |
|
| Shareholders’ Equity |
|
1,956.0 |
|
|
1,768.7 |
|
|
1,613.8 |
|
|
1,385.4 |
|
|
1,325.2 |
|
| Book Value Per Common Share |
|
7.72 |
|
|
7.05 |
|
|
6.51 |
|
|
5.68 |
|
|
5.36 |
|
| |
| Financial Relationships |
| Gross Profit Margin |
|
48.6 |
% |
|
49.9 |
% |
|
50.6 |
% |
|
49.7 |
% |
|
48.4 |
% |
| Return on Revenues(E) |
|
11.0 |
% |
|
9.0 |
% |
|
7.6 |
% |
|
10.7 |
% |
|
10.2 |
% |
| Return on Total Assets(B)(E) |
|
13.4 |
% |
|
11.6 |
% |
|
11.7 |
% |
|
15.9 |
% |
|
15.2 |
% |
| Return on Equity(E) |
|
21.0 |
% |
|
18.2 |
% |
|
15.8 |
% |
|
22.1 |
% |
|
20.8 |
% |
| Debt to Capitalization(D)(E) |
|
41.7 |
% |
|
47.6 |
% |
|
41.4 |
% |
|
36.3 |
% |
|
34.3 |
% |
| |
| Additional Data |
| Number of Employees |
|
25,000 |
|
|
24,000 |
|
|
21,700 |
|
|
18,900 |
|
|
17,900 |
|
| Number of Shareholders |
|
10,822 |
|
|
11,433 |
|
|
9,784 |
|
|
8,944 |
|
|
8,027 |
|
| Average Common and Common |
| Equivalent Shares Outstanding– |
| Assuming Dilution (millions) |
|
263.2 |
|
|
264.6 |
|
|
262.1 |
|
|
259.6 |
|
|
267.6 |
|
| Depreciation and Amortization |
$ |
273.7 |
|
$ |
257.8 |
|
$ |
228.7 |
|
$ |
209.8 |
|
$ |
200.5 |
|
| Capital Expenditures |
|
371.0 |
|
|
311.4 |
|
|
181.4 |
|
|
170.3 |
|
|
145.9 |
|
| (A) |
Includes cumulative effect of accounting change of $36.8 ($.14 per basic and diluted share).
|
| (B) |
Earnings before interest expense, taxes and cumulative effect of accounting changes as a percent of average total assets.
|
| (C) |
Excludes the cumulative effect of accounting changes.
|
| (D) |
Total debt as a percent of the sum of total debt, shareholders’ equity and net non-current deferred income tax liabilities.
|
| (E) |
Excludes discontinued operations in 1999 to 2005.
|
|
|
