EX-99.1 2 l19938aexv99w1.htm EX-99.1 CONSOLIDATED STATEMENTS OF INCOME FOR THE YEAR EX-99.1
 

Exhibit 99.1
Pro Forma Statement of Income (Unaudited)
Year Ended December 31, 2005
                         
                    Pro Forma  
(In Millions of Dollars Except Per Share Data)   As Reported     Dispositions     Results of Operations  
 
Net sales
  $ 4,039.2     $ (420.4 )   $ 3,618.8  
Royalties and other revenues
    3.5       (0.1 )     3.4  
 
                 
 
Total revenues
    4,042.7       (420.5 )     3,622.2  
 
                       
Cost of sales
    3,048.9       (352.3 )     2,696.6  
Selling and administrative expenses
    367.7       (19.3 )     348.4  
Research, testing and development expenses
    204.8       (5.8 )     199.0  
Amortization of intangible assets
    25.2       (1.7 )     23.5  
Restructuring and impairment charges
    22.2       (6.4 )     15.8  
 
                 
 
Total costs and expenses
    3,668.8       (385.5 )     3,283.3  
 
                       
Other (expense) income – net
    (2.0 )     3.6       1.6  
Interest income
    8.1             8.1  
Interest expense
    (105.1 )           (105.1 )
 
                 
Income from continuing operations before income taxes
    274.9       (31.4 )     243.5  
Provision for income taxes
    93.6       (11.6 )     82.0  
 
                 
 
                       
Income from continuing operations
  $ 181.3     $ (19.8 )   $ 161.5  
 
                 
 
                       
Basic earnings from continuing operations per share
  $ 2.67     $ (0.29 )   $ 2.38  
 
                 
 
                       
Diluted earnings from continuing operations per share
  $ 2.63     $ (0.28 )   $ 2.35