Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Non-GAAP Reconciliation –
     EBIT
  Millions                                                                   Three Mon...
Non-GAAP Reconciliation – Net
  Assets
Millions                                      Sept. 25   Sept. 26,   June 26,
     ...
Non-GAAP Reconciliation – ROANA

Millions                                      Three Months        Nine Months
           ...
Upcoming SlideShare
Loading in …5
×

Cummins_Q32005

168 views

Published on

  • Be the first to comment

  • Be the first to like this

Cummins_Q32005

  1. 1. Non-GAAP Reconciliation – EBIT Millions Three Months Ended Nine Months Ended Sept. 25, Sept. 26, June 26, Sept. 25, Sept. 26, 2005 2004 2005 2005 2004 Earnings before interest, income taxes, minority $ 240 $ 145 $ 235 $ 638 $ 371 interest and restructuring charges Restructuring, asset impairment and other $ - $ - $ - $ - $ - Earnings before interest, income taxes and $ 240 $ 145 $ 235 $ 638 $ 371 minority interest Interest Expense $ (27) $ (27) $ (28) $ (83) $ (81) Provision for income taxes $ (61) $ 4 $ (58) $ (153) $ (44) Minority Interests in earnings of unconsolidated $ (7) $ (6) $ (8) $ (19) $ (15) subsidiaries Net Earnings $ 145 $ 116 $ 141 $ 383 $ 231 EBIT = Earnings before interest, taxes, and minority interests. We use EBIT to assess and measure the performance of our operating segments and also as a component in measuring our variable compensation programs. The table above reconciles EBIT, a non-GAAP financial measure, to our consolidated net earnings, for each of the applicable periods.
  2. 2. Non-GAAP Reconciliation – Net Assets Millions Sept. 25 Sept. 26, June 26, 2005 2004 2005 Net assets for operating segments $ 3,312 $ 2,876 $ 3,143 Liabilities deducted in computing net 3,421 3,040 3,292 assets Minimum pension liability excluded from net (826) (698) (826) assets Deferred tax assets not allocated to 928 903 943 segments Debt-related costs not allocated to 27 28 28 segments Total assets $ 6,862 $ 6,149 $ 6,580
  3. 3. Non-GAAP Reconciliation – ROANA Millions Three Months Nine Months Ended Ended Sept. 26, 2005 Sept. 26, 2005 Earnings before interest, income taxes and $ 240 $ 638 minority interest Net Assets for operating segments at 3,143 3,151 beginning of period Net Assets for operating segments at end of 3,312 3,312 period Average Net Assets for operating segments 3,228 3,232 for period ROANA 30% 26%

×