June 30, 2000 is a result of the addition of the environmental liabilities and corresponding environmental reserves from the Wynn’s acquisition.  The Company's estimated total liability for the above mentioned sites ranges from a minimum of $17,870 to a maximum of $40,782. The actual costs to be incurred by the Company will be dependent on final determination of remedial action required, negotiations with federal and state agencies, changes in regulatory requirements and technology innovation, the effectiveness of remedial technologies employed, the ability of other responsible parties to pay, and any insurance or third party recoveries. made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities, the amount of the Company's liability in proportion to other responsible parties and any recoveries receivable. This reserve is net of $2,640 for discounting, at a 7.5% annual rate, a portion of the costs at five locations to operate and maintain remediation treatment systems as well as gauge treatment system effectiveness through monitoring and sampling over periods ranging from five to 23 years. The Company also has an account receivable, presented separately from the recorded liability on the Consolidated Balance Sheet, of $219 for anticipated insurance recoveries. The significant increase in environmental reserve from (Dollars in thousands, except per share amounts) (a) Results for the first quarter include a gain on the sale of real property of $55,548 ($34,662 after-tax or $.30 per share) and a charge of $8,437 ($5,815 after-tax or $.05 per share) primarily related to certain asset impairments. Results for the fourth quarter include a charge of $28,008 ($17,477 after-tax or $.15 per share) related primarily to business realignment costs and certain corporate accruals. (b) Results for the first quarter include a charge of $8,555 ($5,560 after-tax or $.05 per share) related to business realignment costs and a non-cash impairment loss of $4,875 ($3,169 after-tax or $.03 per share) related to certain long-lived assets. As a result of the adoption of EITF 00-10 in the fourth quarter of 2001, Net sales have been restated for the first three quarters of 2001 and each of the quarters in 2000. Net sales increased $7,765, $7,543 and $7,856 in the 1st, 2nd and 3rd quarters of 2001 and $6,919, $6,910, $7,928 and $8,524 in the 1st, 2nd, 3rd and 4th quarters of 2000, respectively. Common Stock Listing: New York Stock Exchange, Stock Symbol PH Note 16 Stock Prices and Dividends  (Unaudited) Note 15 Quarterly Information  (Unaudited) 2001  (a) 1st 2nd 3rd 4th Total Net sales $ 1,485,131 $ 1,467,619 $ 1,542,058 $ 1,484,796 $ 5,979,604 Gross profit 326,102 315,255 320,815 289,276 1,251,448 Income before extraordinary item 125,046 78,314 91,452 49,358 344,170 Net income 125,046 78,314 88,074 49,358 340,792 Diluted earnings per share before extraordinary item 1.09 .68 .80 .42 2.99 Diluted earnings per share 1.09 .68 .77 .42 2.96 2000 (b) 1st 2nd 3rd 4th Total Net sales $ 1,249,212 $ 1,246,117 $ 1,401,587 $  1,488,702 $ 5,385,618 Gross profit 265,672 267,909 319,526 345,661 1,198,768 Net income 73,594 74,963 106,703 112,972 368,232 Diluted earnings per share .67 .68 .97 .99 3.31 (In dollars) 1st 2nd 3rd 4th Full Year 2001 High $ 39.69 $ 47.44 $ 46.75 $ 50.10 $ 50.10 Low 31.00 31.25 37.66 38.50 31.00 Dividends .170 .170 .180 .180 .700 2000 High $ 48.13 $ 51.44 $ 54.00 $ 48.31 $ 54.00 Low 43.13 41.19 33.94 34.25 33.94 Dividends .170 .170 .170 .170 .680 1999 High $ 38.75 $ 38.31 $ 39.75 $ 50.50 $ 50.50 Low 26.56 27.00 29.50 34.00 26.56 Dividends .150 .150 .170 .170 .640 35