A M P H E N O L C O R P O R A T I O N 2 0 0 4 A N N U A L R E P O R T  Consolidated Statements of Changes in Shareholders' Equity and Other Comprehensive Income  (dollars in thousands, except per share data)  Additional Accumulated  Paid-In Other Total Common Capital Comprehensive Accumulated Comprehensive Treasury Shareholders Stock  ( Deficit)  Income (Loss)  Earnings Income (Loss) Stock Equity Balance December 31, 2001 $84 $(280,266) $442,096 $(57,981) $ - $103,933 Comprehensive income:  Net income [$80,344]  80,344 80,344 Other comprehensive loss, net of tax:  Translation adjustments 10,377 10,377 10,377 Revaluation of interest rate derivatives 8,837 8,837 8,837 Minimum pension liability adjustment  (42,452)  (42,452) (42,452) Other comprehensive loss  (23,238)  Comprehensive income  [$57,106]  Deferred compensation  166  166  Stock options exercised, including tax  benefit  2  5,775  5,777  Balance December 31, 2002 86 (274,325) 522,440 (81,219) - 166,982 Comprehensive income:  Net income [$103,990]  103,990  103,990 Other comprehensive loss, net of tax:  Translation adjustments 17,047 17,047 17,047 Revaluation of interest rate derivatives (669) (669) (669) Minimum pension liability adjustment  (103)  (103) (103) Other comprehensive income  16,275  Comprehensive income  [$120,265]  Deferred compensation  240  240 Stock options exercised, including tax  benefit  1  35,918  35,919  Balance December 31, 2003 87 (238,167) 626,430 (64,944) - 323,406 Comprehensive income:  Net income [$163,311]  163,311 163,311 Other comprehensive income, net of tax:  Translation adjustments 11,904 11,904 11,904 Revaluation of interest rate derivatives 2,116  2,116  2,116  Minimum pension liability adjustment  (4,154)  (4,154) (4,154) Other comprehensive income  9,866  Comprehensive income  [$173,177]  Purchase of treasury stock  (45,643) (45,643) Deferred compensation  329  329  Stock options exercised, including tax  benefit  1  30,334  30,335  Balance December 31, 2004 $88  $(207,504)  $789,741  $(55,078)  $(45,643)  $481,604  See accompanying notes to consolidated financial statements.  38 