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Non-GAAP Reconciliation –
     EBIT
  Millions                                                                   Three Mon...
Non-GAAP Reconciliation – Net
  Assets
Millions                                        Dec. 31,   Dec. 31,   Sept. 25,
   ...
Non-GAAP Reconciliation – ROANA

Millions                                      Three Months       For the Year
           ...
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Cummins_q42005

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Cummins_q42005

  1. 1. Non-GAAP Reconciliation – EBIT Millions Three Months Ended For the Years Ended Dec. 31, Dec. 31, Sept. 25, Dec. 31, Dec. 31, 2005 2004 2005 2005 2004 Earnings before interest, income taxes, minority $ 269 $ 172 $ 240 $ 907 $ 543 interest and restructuring charges Restructuring, asset impairment and other $ - $ - $ - $ - $ - Earnings before interest, income taxes and $ 269 $ 172 $ 240 $ 907 $ 543 minority interest Interest Expense $ (26) $ (30) $ (27) $ (109) $ (111) Provision for income taxes $ (63) $ (12) $ (61) $ (216) $ (56) Minority Interests in earnings of unconsolidated $ (13) $ (11) $ (7) $ (32) $ (26) subsidiaries Net Earnings $ 167 $ 119 $ 145 $ 550 $ 350 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 Dec. 31, Dec. 31, Sept. 25, 2005 2004 2005 Net assets for operating segments $ 3,479 $ 3,151 $ 3,312 Liabilities deducted in computing net assets 3,354 3,168 3,421 Minimum pension liability excluded from net (837) (826) (826) assets Deferred tax assets not allocated to segments 863 990 928 Debt-related costs not allocated to segments 26 27 27 Total assets $ 6,885 $ 6,510 $ 6,862
  3. 3. Non-GAAP Reconciliation – ROANA Millions Three Months For the Year Ended Ended Dec. 31, 2005 Dec. 31, 2005 Earnings before interest, income taxes and $ 269 $ 907 minority interest Net Assets for operating segments at 3,312 3,151 beginning of period Net Assets for operating segments at end of 3,479 3,479 period Average Net Assets for operating segments 3,396 3,315 for period ROANA 32% 27%

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