FINANCIAL HIGHLIGHTS (1) Based on income before cumulative effect of change in accounting principle. See Note 3, page 51 of this report. (2) Based on income before income taxes, minority interest and cumulative effect of change in accounting principle divided by average net accounts receivable, inventories, property, plant and equipment and accounts payable. (3) Ratio of income before income taxes, minority interest, cumulative effect of change in accounting principle and interest expense to interest expense. (4) See Note 1, page 48 of this report, for a description of technical expenditures. (thousands of dollars except per share data) 2004 2003 2002 Net sales $ 6,113,789 $ 5,407,764 $ 5,184,788 Income before cumulative effect of change in accounting principle $ 393,254  $ 332,058 $ 310,701 Cumulative effect of change in accounting principle - net of income taxes of $64,476 (183,136) Net income $ 393,254 $ 332,058 $ 127,565 Per common share: Fully-diluted: Income before cumulative effect of change in accounting principle $ 2.72 $ 2.26 $ 2.04 Cumulative effect of change in accounting principle - net of income taxes (1.20) Net income $ 2.72 $ 2.26 $ .84 Basic: Income before cumulative effect of change in accounting principle $ 2.79 $ 2.29 $ 2.07 Cumulative effect of change in accounting principle - net of income taxes  (1.22) Net income $ 2.79 $ 2.29 $ .85 Cash dividends $ .68 $ .62 $ .60 Book value $ 11.70 $ 10.17 $ 9.01 Average common shares outstanding (thousands) 140,802 144,847 150,438 Return on sales (1) 6.4 % 6.1 % 6.0 % Return on net operating assets employed (RONAE) (2) 40.5 % 37.3 % 35.7 % Return on beginning shareholders’ equity (1) 27.0 % 24.7 % 20.9 % Total debt to capitalization 30.9 % 26.0 % 28.0 % Interest coverage (3) 15.5 x 14.5 x 13.3 x  Current ratio 1.2  1.5 1.4 Total technical expenditures (4) $ 91,310  $ 88,369 $ 88,721 0 1000 2000 3000 4000 5000 6000 7000 2004 2003 2002 5,408 5,185 6,114 NET SALES  (millions of dollars) 0.0 0.5 1.0 1.5 2.0 2.5 3.0 2004 2003 2002 2.26 2.04 2.72 INCOME PER  SHARE - DILUTED (1) 0 50 100 150 200 250 300 350 400 2004 2003 2002 332 311 393 INCOME - (1)  (millions of dollars)