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Financial Highlights
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2003
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20022
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2001
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(In millions, except per share and percent data)
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Reported
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Asbestos Charge
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Pro Forma Excluding Asbestos Charge1
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Net sales
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$2,083.5
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$2,083.5
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$1,986.1
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$2,007.8
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Income before taxes
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$ 47.9
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$(140.0)
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$ 187.9
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$ 154.1
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$ 101.5
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Net income
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$ 35.3
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$ (87.5)
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$ 122.8
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$ 101.6
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$ 63.0
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Return on sales
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1.7%
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5.9%
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5.1%
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3.1%
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Return on stockholders’ equity
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4.1%
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13.5%
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13.6%
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9.8%
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Diluted earnings per share
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$ 0.30
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$ (0.76)
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$ 1.06
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$ 0.97
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$ 0.62
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Cash dividends per share
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$ 0.5150
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$ 0.5150
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$ 0.5000
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$ 0.4975
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(1) Figures exclude the impact of the asbestos charge. See Note H of the Consolidated Financial Statements for discussion. Management believes that the
inclusion of this non-GAAP financial data provides investors with additional insights into pertinent performance measures of the business, and that
it should be viewed as supplemental data, rather than as substitutes or alternatives to GAAP measures of performance.
(2) Reflects adoption of SFAS No. 142 regarding Goodwill (see Note A [10] to the Consolidated Financial Statements).
(3) Shaded areas reflect the positive impact on the financial data resulting from the exclusion of the asbestos charge. See “Asbestos Charge” column in table above.
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