STANDARD & POOR'S INDEX SERVICES

S&P 500 EARNINGS AND ESTIMATE REPORT

Data as of the close of: 10/10/2007

S&P 500 close of: 1562.47
Dividend yield (last 12 months: Sep,'07) 1.73%
Dividend yield (indicated rate) 1.81%

CORE CORE
OPER AS REPORTED PRE-PEN INT CORE OPER OPER AS REPORTED PRE-PEN INT CORE OPER
EARNS EARNS EARNS EARNS EARNS EARNS EARNS EARNS EARNS EARNS
QUARTER PRICE PER SHR PER SHR PER SHR PER SHR PER SHR P/E P/E P/E P/E P/E
END (ests are (ests are (ests are (ests are (ests are (ests are (ests are (ests are (ests are (ests are
bottom up) top down) top down) top down) top down) bottom up) top down) top down) top down) top down)
(1996-2000, & 2007 annual )

ESTIMATES
12/31/2008 28.11 21.80 24.50 14.80 17.06 16.31
09/30/2008 26.58 23.00 24.23 15.37 17.21 16.56
06/30/2008 26.19 23.50 23.83 15.95 17.46 16.69
03/31/2008 24.69 23.30 23.26 16.30 17.78 22.39
12/31/2007 24.23 21.00 84.23 82.55 23.02 16.70 18.19 18.55 18.93 16.81
09/30/2007 1526.75 22.86 21.70 23.49 17.11 18.35 17.00

ACTUALS
06/30/2007 1503.35 24.06 21.88 16.42 17.70
03/31/2007 1420.86 22.39 21.33 15.90 17.09
12/31/2006 1418.30 21.99 20.24 20.89 21.53 16.17 17.40 17.41 17.51
09/30/2006 1335.85 23.03 21.47 21.17 21.10 15.55 17.00 16.96 17.42
06/30/2006 1270.20 21.95 20.11 19.90 18.99 15.55 17.05 17.35 18.03
03/31/2006 1294.83 20.75 19.69 19.51 19.40 16.35 17.82 18.55 19.13
12/31/2005 1248.29 20.19 17.30 18.18 17.20 16.33 17.85 18.40 19.03
09/30/2005 1228.81 18.84 17.39 17.29 16.88 16.56 18.46 19.00 19.38
06/30/2005 1191.33 19.42 18.29 16.61 16.33 16.49 18.80 19.72 20.23
03/31/2005 1180.59 18.00 16.95 15.75 15.17 16.91 19.57 20.25 20.86
12/31/2004 1211.92 17.95 13.94 15.03 15.02 17.91 20.70 21.42 21.97
09/30/2004 1114.58 16.88 14.18 13.01 12.36 17.25 19.29 20.46 21.00
06/30/2004 1140.84 16.98 15.25 14.51 14.03 18.36 20.32 21.37 21.68
03/31/2004 1126.21 15.87 15.18 14.02 13.75 19.39 21.66 22.83 23.02
12/31/2003 1111.92 14.88 13.16 12.93 12.93 20.33 22.81 24.13 24.28
09/30/2003 995.97 14.41 12.56 11.92 11.92 19.25 25.82 24.53 25.49
06/30/2003 974.50 12.92 11.10 10.45 10.33 19.91 28.21 27.30 29.59
03/31/2003 848.18 12.48 11.92 10.78 10.61 17.79 27.97 26.72 30.47
12/31/2002 879.82 11.94 3.00 7.45 6.22 19.11 31.89 30.68 37.18
09/30/2002 815.28 11.61 8.53 7.01 5.77 18.52 27.14 32.43 40.56
06/30/2002 989.81 11.64 6.87 6.50 5.24 23.80 37.02 43.32 55.65
03/31/2002 1147.39 10.85 9.19 7.71 6.43 29.44 46.45 53.26 69.65
12/31/2001 1148.08 9.94 5.45 3.92 2.66 29.55 46.50 54.49 71.75
09/30/2001 1040.94 9.16 5.23 4.72 3.46 24.77 36.77
06/30/2001 1224.38 9.02 4.83 5.20 3.93 26.03 33.28
03/31/2001 1160.33 10.73 9.18 7.24 5.96 21.94 25.54
12/31/2000 1320.28 13.11 9.07 41.55 38.86 (annual) 23.52 26.41 31.78 33.97
09/30/2000 1436.51 14.17 13.71 25.30 26.75
06/30/2000 1454.60 14.88 13.48 26.17 28.02
03/31/2000 1498.58 13.97 13.74 27.79 29.41
12/31/1999 1469.25 13.77 12.77 40.05 39.91 (annual) 28.43 30.50 36.68 36.81
09/30/1999 1282.71 12.97 11.93 25.98 29.18
06/30/1999 1372.71 13.21 12.51 29.29 33.46
03/31/1999 1286.37 11.73 10.96 28.54 33.52
12/31/1998 1229.23 11.47 8.56 30.94 30.61 (annual) 27.77 32.60 39.73 40.15
09/30/1998 1017.01 10.45 8.99 23.07 26.70
06/30/1998 1133.84 11.43 9.87 25.38 29.10
03/31/1998 1101.75 10.92 10.29 24.83 27.86
12/31/1997 970.43 11.29 8.94 35.36 35.31 (annual) 22.05 24.43 27.45 27.48
09/30/1997 947.28 11.03 9.87 21.66 23.31
06/30/1997 885.14 11.13 10.44 20.77 21.83
03/31/1997 757.12 10.56 10.47 18.11 18.82
12/31/1996 740.74 11.01 9.86 36.02 35.90 (annual) 18.23 19.13 20.57 20.64
09/30/1996 687.33 9.92 9.78 17.44 19.09
06/30/1996 670.63 10.31 10.13 17.08 19.21
03/31/1996 645.50 9.39 8.96 16.79 18.96
12/31/1995 615.93 9.78 7.13 16.34 18.14
09/30/1995 584.41 9.78 8.69 15.92 16.61
06/30/1995 544.75 9.50 9.26 15.58 15.82
03/31/1995 500.71 8.64 8.88 15.07 15.38
12/31/1994 459.27 8.80 8.35 14.47 15.01
09/30/1994 462.71 8.03 7.94 15.37 16.93
06/30/1994 444.27 7.75 7.38 15.32 17.63
03/31/1994 445.77 7.17 6.93 16.02 19.63
12/31/1993 466.45 7.16 5.08 17.34 21.31
09/30/1993 458.93 6.92 5.81 18.10 22.49
06/30/1993 450.53 6.57 4.89 19.13 23.31
03/31/1993 451.67 6.25 6.11 20.35 22.77
12/31/1992 435.71 5.61 3.60 20.88 22.82
09/30/1992 417.80 5.12 4.73 21.01 23.16
06/30/1992 408.14 5.21 5.40 20.53 23.94
03/31/1992 403.69 4.93 5.36 20.74 24.93
12/31/1991 417.09 4.63 2.55 21.61 26.12
09/30/1991 387.86 5.11 3.74 19.71 21.77
06/30/1991 371.16 4.79 4.54 18.07 19.12
03/31/1991 375.22 4.77 5.14 17.20 17.92
12/31/1990 330.22 5.01 4.40 14.58 15.47
09/30/1990 306.05 5.97 5.33 13.03 14.08
06/30/1990 358.02 6.06 6.07 15.53 16.84
03/31/1990 339.94 5.61 5.54 14.45 15.69
12/31/1989 353.40 5.84 4.80 14.53 15.45
09/30/1989 349.15 5.54 4.85 14.05 14.74
06/30/1989 317.98 6.53 6.48 12.46 12.61
03/31/1989 294.87 6.41 6.74 11.77 11.81
12/31/1988 277.72 6.37 5.62 11.51 11.69
09/30/1988 271.91 6.22 6.38
06/30/1988 273.50 6.05 6.22
03/31/1988 258.89 5.48 5.53

Actual and preliminary earnings are bottom up.

Estimates are bottom up and top down, as marked.
The current reporting period is shown (xx%), indicating that xx% is based on actual earnings and 100-xx% are based on estimates.
Estimated P/Es are based on the report date price; actual and preliminary P/Es are based on the quarter end price.
Core actuals are bottom up and preliminary.
Core Pre-Pension Interest adjustment values, with the volatile pension interest adjustment costs removed, are bottom up and preliminary.
STANDARD & POOR'S INDEX SERVICES
S&P 500 DIVISORS AND AGGREGATES

CORE CORE
OPER AS REPORTED PRE-PEN INT CORE OPER AS REPORTED PRE-PEN INT CORE MARKET
QUARTER EARNS EARNS EARNS EARNS EARNS EARNS EARNS EARNS VALUE
END PER SHR PER SHR PER SHR PER SHR $ BIL $ BIL $ BIL $ BIL $ BIL PRICE DIVISOR
(1996-2000 annual) (1996-2000 annual)

09/30/2007 13,469.72 1526.75 8822.50

06/30/2007 24.06 21.88 213.65 194.29 13,349.73 1503.35 8879.99
03/31/2007 22.39 21.33 200.23 190.75 12,706.32 1420.86 8942.67
12/31/2006 21.99 20.24 20.89 21.53 197.35 181.65 187.48 193.23 12,728.86 1418.30 8974.73
09/30/2006 23.03 21.47 21.17 21.10 207.22 193.19 190.49 189.86 12,019.85 1335.85 8997.93
06/30/2006 21.95 20.11 19.90 18.99 198.67 182.02 180.12 171.88 11,496.84 1270.20 9051.20
03/31/2006 20.75 19.69 19.51 19.40 186.85 177.30 175.68 174.69 11,659.69 1294.83 9004.80
12/31/2005 20.19 17.30 18.39 17.41 182.03 155.98 165.80 156.97 11,254.54 1248.29 9015.96
09/30/2005 18.84 17.39 17.29 16.88 169.92 156.84 155.94 152.24 11,082.59 1228.81 9018.96 (full fload adjusted)
06/30/2005 19.42 18.29 16.61 16.33 177.52 167.19 151.83 149.27 10,890.01 1191.33 9141.05
03/31/2005 18.00 16.85 15.85 15.53 164.97 154.43 145.26 142.33 10,819.81 1180.59 9164.75 (half fload adjusted)
12/31/2004 17.95 13.94 15.03 15.02 167.20 129.85 140.00 139.91 11,288.60 1211.92 9314.65
09/30/2004 16.88 14.18 13.01 12.36 157.47 132.28 121.37 115.31 10,397.80 1114.58 9328.90
06/30/2004 16.98 15.25 14.51 14.03 158.12 142.01 135.12 130.65 10,623.42 1140.84 9311.93
03/31/2004 15.87 15.18 14.02 13.75 147.42 141.01 130.23 127.72 10,461.32 1126.21 9288.96
12/31/2003 14.88 13.16 12.93 12.93 137.65 121.74 119.61 119.61 10,285.83 1111.92 9250.51
09/30/2003 14.41 12.56 11.35 11.35 133.22 116.12 104.93 104.93 9,207.69 995.97 9244.95
06/30/2003 12.92 11.10 10.45 10.33 119.34 102.53 96.52 95.41 9,001.01 974.50 9236.54
03/31/2003 12.48 11.92 10.78 10.61 115.16 109.99 99.47 97.91 7,826.70 848.18 9227.64
12/31/2002 11.94 3.00 7.45 6.22 110.03 27.64 68.65 57.32 8,107.41 879.82 9214.85
09/30/2002 11.61 8.53 7.01 5.77 107.07 78.66 64.65 53.21 7,518.37 815.28 9221.83
06/30/2002 11.64 6.87 6.50 5.24 106.90 63.09 59.69 48.12 9,090.53 989.81 9184.12
03/31/2002 10.85 9.19 7.71 6.43 99.31 84.11 70.61 58.89 10,501.89 1147.39 9152.85
12/31/2001 9.94 5.45 3.92 2.66 90.59 49.67 35.69 24.21 10,463.39 1148.08 9113.82
09/30/2001 9.16 5.23 4.72 3.46 83.04 47.41 42.76 31.34 9,436.72 1040.94 9065.58
06/30/2001 9.02 4.83 5.20 3.93 81.24 43.50 46.79 35.35 11,027.29 1224.38 9006.43
03/31/2001 10.73 9.18 7.24 5.96 96.03 82.16 64.82 53.36 10,384.68 1160.33 8949.76
12/31/2000 13.11 9.07 41.55 38.86 116.32 80.48 368.65 344.83 11,714.55 1320.28 8872.78
09/30/2000 14.17 13.71 124.28 120.24 12,598.77 1436.51 8770.40
06/30/2000 14.88 13.48 127.71 115.69 12,484.41 1454.60 8582.71
03/31/2000 13.97 13.74 118.26 116.32 12,686.17 1498.58 8465.46
12/31/1999 13.77 12.77 40.05 39.91 115.42 107.04 335.70 334.56 12,314.99 1469.25 8381.82
09/30/1999 12.97 11.93 106.71 98.16 10,553.80 1282.71 8227.74
06/30/1999 13.21 12.51 108.08 102.36 11,231.51 1372.71 8182.00
03/31/1999 11.73 10.96 95.87 89.57 10,513.09 1286.37 8172.68
12/31/1998 11.47 8.56 30.94 30.61 92.77 69.24 250.26 247.61 9,942.37 1229.23 8088.29
09/30/1998 10.45 8.99 83.49 71.82 8,125.14 1017.01 7989.24
06/30/1998 11.43 9.87 90.28 77.96 8,955.64 1133.84 7898.50
03/31/1998 10.92 10.29 85.50 80.57 8,626.38 1101.75 7829.71
12/31/1997 11.29 8.94 35.36 35.31 87.89 69.60 275.25 274.88 7,554.68 970.43 7784.88
09/30/1997 11.03 9.87 85.39 76.41 7,333.41 947.28 7741.54
06/30/1997 11.13 10.44 85.41 80.11 6,792.18 885.14 7673.57
03/31/1997 10.56 10.47 80.85 80.16 5,796.35 757.12 7655.79
12/31/1996 11.01 9.86 36.02 35.90 83.62 74.88 273.56 272.62 5,625.76 740.74 7594.79
09/30/1996 9.92 9.78 75.13 74.07 5,205.23 687.33 7573.12
06/30/1996 10.31 10.13 77.85 76.49 5,063.74 670.63 7550.72
03/31/1996 9.39 8.96 70.53 67.30 4,848.49 645.50 7511.21
12/31/1995 9.78 7.13 72.85 53.11 4,588.30 615.93 7449.38
09/30/1995 9.78 8.69 72.12 64.08 4,309.29 584.41 7373.75
06/30/1995 9.50 9.26 69.73 67.97 3,998.61 544.75 7340.26
03/31/1995 8.64 8.88 63.34 65.10 3,670.96 500.71 7331.51
12/31/1994 8.80 8.35 64.12 60.84 3,346.16 459.27 7285.82
09/30/1994 8.03 7.94 58.34 57.69 3,361.91 462.71 7265.69
06/30/1994 7.75 7.38 55.89 53.22 3,204.02 444.27 7211.87
03/31/1994 7.17 6.93 51.11 49.40 3,177.44 445.77 7127.98
12/31/1993 7.16 5.08 50.74 36.00 3,305.51 466.45 7086.53
09/30/1993 6.92 5.81 48.52 40.73 3,217.59 458.93 7011.06
06/30/1993 6.57 4.89 45.82 34.11 3,142.24 450.53 6974.55
03/31/1993 6.25 6.11 43.42 42.45 3,137.86 451.67 6947.24
12/31/1992 5.61 3.60 38.82 24.91 3,014.67 435.71 6918.99
09/30/1992 5.12 4.73 35.33 32.64 2,883.02 417.80 6900.48
06/30/1992 5.21 5.40 35.78 37.08 2,802.73 408.14 6867.07
03/31/1992 4.93 5.36 33.69 36.63 2,758.80 403.69 6833.95
12/31/1991 4.63 2.55 31.35 17.26 2,823.82 417.09 6770.28
09/30/1991 5.11 3.74 34.35 25.14 2,607.62 387.86 6723.09
06/30/1991 4.79 4.54 32.02 30.35 2,481.25 371.16 6685.13
03/31/1991 4.77 5.14 31.80 34.27 2,501.47 375.22 6666.67
12/31/1990 5.01 4.40 33.30 29.25 2,194.98 330.22 6647.01
09/30/1990 5.97 5.33 39.72 35.46 2,036.18 306.05 6653.10
06/30/1990 6.06 6.07 40.34 40.40 2,382.99 358.02 6656.02
03/31/1990 5.61 5.54 37.42 36.95 2,267.36 339.94 6669.89
12/31/1989 5.84 4.80 39.12 32.15 2,367.01 353.40 6697.81
09/30/1989 5.54 4.85 37.03 32.42 2,333.83 349.15 6684.33
06/30/1989 6.53 6.48 43.90 43.57 2,137.92 317.98 6723.45
03/31/1989 6.41 6.74 43.15 45.37 1,985.03 294.87 6731.88
12/31/1988 6.37 5.62 43.50 38.38 1,896.71 277.72 6829.56
09/30/1988 6.22 6.38 43.11 44.22 1,884.58 271.91 6930.89
06/30/1988 6.05 6.22 42.09 43.27 1,902.67 273.50 6956.73
03/31/1988 5.48 5.53 38.24 38.59 1,806.38 258.89 6977.40
STANDARD & POOR'S INDEX SERVICES
S&P 500 CASH DIVIDENDS

CASH MARKET DIVIDENDS

QUARTER DIVIDENDS VALUE DIVIDENDS $ BIL
END INDEX PER SHR YIELD $ BIL $ BIL 12 MONTHS

09/30/2007 1526.75 6.90 1.77% 13,469.72 60.84 240.36

06/30/2007 1503.35 6.69 1.74% 13,349.73 59.44 234.30
03/31/2007 1420.86 6.52 1.79% 12,706.32 58.32 229.33
12/31/2006 1418.30 6.86 1.75% 12,728.86 61.76 224.25
09/30/2006 1335.85 6.09 1.80% 12,019.85 54.78 217.31
06/30/2006 1270.20 6.02 1.85% 11,496.84 54.46 211.52
03/31/2006 1294.83 5.91 1.76% 11,659.69 53.25 206.10
12/31/2005 1248.29 6.08 1.78% 11,254.54 54.83 201.84
09/30/2005 1228.81 5.43 1.75% 11,082.59 48.99 196.69
06/30/2005 1191.33 5.36 1.76% 10,890.01 49.03 193.25
03/31/2005 1180.59 5.35 1.71% 10,819.81 48.99 187.64
12/31/2004 1211.92 5.33 1.60% 11,288.60 49.68 181.02
09/30/2004 1114.56 4.88 1.72% 10,397.80 45.54 178.09
06/30/2004 1140.84 4.66 1.63% 10,623.42 43.43 172.51
03/31/2004 1126.21 4.56 1.60% 10,461.32 42.36 166.82
12/31/2003 1111.92 5.06 1.56% 10,285.83 46.76 160.65
09/30/2003 995.97 4.32 1.67% 9,207.69 39.96 153.11
06/30/2003 974.50 4.09 1.66% 9,001.01 37.74 149.12
03/31/2003 848.18 3.92 1.91% 7,826.70 36.19 149.50
12/31/2002 879.82 4.26 1.83% 8,107.41 39.22 147.81
09/30/2002 815.28 3.90 1.94% 7,518.37 35.97 144.87
06/30/2002 989.81 4.15 1.62% 9,090.53 38.11 146.42
03/31/2002 1147.39 3.77 1.37% 10,501.89 34.51 142.90
12/31/2001 1148.08 3.98 1.37% 10,463.39 36.27 142.22
09/30/2001 1040.94 4.14 1.51% 9,436.72 37.53 141.26
06/30/2001 1224.38 3.84 1.28% 11,027.29 34.58 139.60
03/31/2001 1160.33 3.78 1.38% 10,384.68 33.83 140.38
12/31/2000 1320.28 3.98 1.23% 11,714.55 35.31 141.08
09/30/2000 1436.51 4.09 1.14% 12,598.77 35.87 139.72
06/30/2000 1454.60 4.12 1.15% 12,484.41 35.36 140.46
03/31/2000 1498.58 4.08 1.12% 12,686.17 34.54 139.30
12/31/1999 1469.25 4.05 1.14% 12,314.99 33.95 137.53
09/30/1999 1282.71 4.45 1.30% 10,553.80 36.61 135.94
06/30/1999 1372.71 4.18 1.20% 11,231.51 34.20 133.36
03/31/1999 1286.37 4.01 1.28% 10,513.09 32.77 132.18
12/31/1998 1229.23 4.00 1.32% 9,942.37 32.35 128.84
09/30/1998 1017.01 4.26 1.59% 8,125.14 34.03 127.24
06/30/1998 1133.84 4.18 1.41% 8,955.64 33.02 124.64
03/31/1998 1101.75 3.76 1.42% 8,626.38 29.44 121.32
12/31/1997 970.43 3.95 1.60% 7,554.68 30.75 119.52
09/30/1997 947.28 4.06 1.62% 7,333.41 31.43 117.55
06/30/1997 885.14 3.87 1.71% 6,792.18 29.70 115.58
03/31/1997 757.12 3.61 1.99% 5,796.35 27.64 114.35
12/31/1996 740.74 3.79 2.01% 5,625.76 28.78 112.62
09/30/1996 687.33 3.89 2.13% 5,205.23 29.46 110.28
06/30/1996 670.63 3.77 2.13% 5,063.74 28.47 106.63
03/31/1996 645.50 3.45 2.18% 4,848.49 25.91 104.59
12/31/1995 615.93 3.55 2.24% 4,588.30 26.45 101.70
09/30/1995 584.41 3.50 2.32% 4,309.29 25.81 99.59
06/30/1995 544.75 3.60 2.45% 3,998.61 26.42 97.68
03/31/1995 500.71 3.14 2.63% 3,670.96 23.02 95.85
12/31/1994 459.27 3.34 2.87% 3,346.16 24.33 95.21
09/30/1994 462.71 3.29 2.79% 3,361.91 23.90 92.78
06/30/1994 444.27 3.41 2.89% 3,204.02 24.59 91.31
03/31/1994 445.77 3.14 2.85% 3,177.44 22.38 89.59
12/31/1993 466.45 3.09 2.70% 3,305.51 21.90 88.12
09/30/1993 458.93 3.20 2.73% 3,217.59 22.44 87.19
06/30/1993 450.53 3.28 2.78% 3,142.24 22.88 86.83
03/31/1993 451.67 3.01 2.76% 3,137.86 20.91 86.21
12/31/1992 435.71 3.03 2.84% 3,014.67 20.96 85.18
09/30/1992 417.80 3.20 2.97% 2,883.02 22.08 84.80
06/30/1992 408.14 3.24 3.02% 2,802.73 22.25 83.76
03/31/1992 403.69 2.91 3.05% 2,758.80 19.89 83.17
12/31/1991 417.09 3.04 2.93% 2,823.82 20.58 81.88
09/30/1991 387.86 3.13 3.17% 2,607.62 21.04 82.04
06/30/1991 371.16 3.24 3.27% 2,481.25 21.66 80.96
03/31/1991 375.22 2.79 3.23% 2,501.47 18.60 80.60
12/31/1990 330.22 3.12 3.66% 2,194.98 20.74 80.47
09/30/1990 306.05 3.00 3.87% 2,036.18 19.96 78.89
06/30/1990 358.02 3.20 3.26% 2,382.99 21.30 77.85
03/31/1990 339.94 2.77 3.33% 2,267.36 18.48 75.78
12/31/1989 353.40 2.86 3.13% 2,367.01 19.16 74.13
09/30/1989 349.15 2.83 3.06% 2,333.83 18.92 71.91
06/30/1989 317.98 2.86 3.24% 2,137.92 19.23 70.05
03/31/1989 294.87 2.50 3.38% 1,985.03 16.83 68.49
12/31/1988 277.72 2.48 3.50% 1,896.71 16.94 67.36
09/30/1988 271.91 2.46 3.48% 1,884.58 17.05
06/30/1988 273.50 2.54 3.37% 1,902.67 17.67
03/31/1988 258.89 2.25 3.46% 1,806.38 15.70
STANDARD & POOR'S INDEX SERVICES
S&P 500 CORE EARNINGS BREAKDOWN

CORE PENSION OTHER NET

PERIOD OPERATING AS REPORTED PRE-PEN INT CORE OPTION INTEREST PENSION GOODWILL GAINS & SETTLEMENTS CORE FORMULA
EARNS EARNS EARNS EARNS EXP ADJ ADJ IMPAIRMENT LOSSES OPEB & LITIGATION REVERSALS EARNS (rounded)
PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR PER SHR

ANNUAL EPS
FY 2007 Estimate 93.54 85.93 84.23 82.55 0.00 -1.68 -0.65 -0.32 1.30 -0.64 -0.60 0.03 82.55 82.55
FY 2006 Core prelim 87.72 81.51 81.47 81.02 0.00 -0.45 -0.58 -1.51 1.10 -0.81 -1.12 0.18 81.02 81.02
FY 2005 76.45 69.93 67.83 65.58 -3.36 -2.25 -0.70 -3.02 1.56 -0.75 -1.40 0.14 65.58 65.58
FY 2004 67.68 58.55 56.57 55.16 -3.30 -1.41 -0.46 -2.32 1.20 -0.68 -1.37 0.04 55.16 55.16
FY 2003 54.69 48.74 45.44 44.04 -3.51 -1.40 -0.91 -1.13 0.79 -0.62 -1.47 0.05 44.04 44.04
FY 2002 46.04 27.59 28.67 23.66 -5.31 -5.01 -1.99 -6.91 -1.19 -0.35 -0.83 0.19 23.66 23.66
FY 2001 38.85 24.69 21.07 16.00 -5.31 -5.07 -2.26 -2.47 -1.58 -0.39 -0.40 0.10 16.00 16.00
FY 2000 56.13 50.00 41.55 38.86 -3.82 -2.68 -2.69 -0.83 3.28 -0.34 -0.90 0.06 38.86 38.86
FY 1999 51.68 48.17 40.05 39.91 -2.50 -0.14 -2.28 -0.16 4.24 0.13 -0.76 0.14 39.91 39.91
FY 1998 44.27 37.71 30.94 30.61 -1.56 -0.33 -1.42 -0.24 4.45 0.07 -0.47 0.11 30.61 30.61
FY 1997 44.01 39.72 35.36 35.31 -1.12 -0.05 -1.11 -0.18 2.50 0.05 -0.16 0.03 35.31 35.31
FY 1996 40.63 38.73 36.02 35.90 -0.49 -0.12 -0.90 -0.03 1.36 0.03 0.01 0.01 35.90 35.90

QUARTERLY EPS
06/30/2007 Core prelim 24.06 21.88
03/31/2007 Core prelim 22.39 21.33
12/31/2006 Core prelim 21.99 20.24 20.89 21.53 0.00 0.64 -0.35 -1.30 0.54 -0.49 -0.73 0.00 21.53 21.53
09/30/2006 23.03 21.47 21.17 21.10 0.00 -0.07 -0.01 -0.18 0.25 -0.12 -0.04 0.14 21.10 21.10
06/30/2006 21.95 20.11 19.90 18.99 0.00 -0.91 -0.12 -0.01 0.15 -0.10 -0.17 0.02 18.99 18.99
03/31/2006 20.75 19.69 19.51 19.40 0.00 -0.11 -0.10 -0.02 0.16 -0.10 -0.18 0.02 19.40 19.40
12/31/2005 20.19 17.30 18.18 17.20 -1.06 -0.98 -0.45 -2.02 -0.14 -0.37 -0.67 0.07 17.20 17.20
09/30/2005 18.84 17.39 17.29 16.88 -0.84 -0.41 -0.23 -0.86 -0.06 -0.21 -0.31 0.05 16.88 16.88
06/30/2005 19.42 18.29 16.61 16.33 -0.74 -0.28 -0.02 -0.08 1.08 -0.09 -0.18 0.01 16.33 16.33
03/31/2005 18.00 16.95 15.75 15.17 -0.72 -0.58 0.00 -0.06 0.68 -0.08 -0.24 0.01 15.17 15.17
12/31/2004 17.95 13.94 15.03 15.02 -0.78 -0.01 -0.01 -2.12 0.29 -0.16 -0.23 0.01 15.02 15.02
09/30/2004 16.88 14.18 13.01 12.36 -0.88 -0.65 -0.21 -0.12 0.22 -0.19 -0.22 0.01 12.36 12.36
06/30/2004 16.98 15.25 14.51 14.03 -0.88 -0.48 -0.21 -0.02 0.34 -0.16 -0.84 0.01 14.03 14.03
03/31/2004 15.87 15.18 14.02 13.75 -0.76 -0.27 -0.03 -0.07 0.34 -0.16 -0.09 0.01 13.75 13.75
12/31/2003 14.88 13.16 12.93 12.93 -0.99 0.00 -0.46 -0.92 -0.11 -0.11 -0.32 0.02 12.93 12.93
9/30/2003 14.41 12.56 11.92 11.92 -0.98 0.00 -0.42 -0.43 -0.16 -0.07 -0.26 0.02 11.92 11.92
06/30/2003 12.92 11.10 10.45 10.33 -0.93 -0.12 -0.41 -0.29 -0.29 -0.07 -0.20 0.02 10.33 10.33
03/31/2003 12.48 11.92 10.78 10.61 -1.02 -0.17 -0.42 -0.13 -0.13 -0.07 -0.13 0.02 10.61 10.61
12/31/2002 11.94 3.00 7.45 6.22 -1.30 -1.23 -0.47 -5.76 -0.06 -0.08 -0.57 0.09 6.22 6.22
09/30/2002 11.61 8.53 7.01 5.77 -1.30 -1.24 -0.57 -0.37 0.04 -0.10 -0.17 0.05 5.85 5.77
06/30/2002 11.64 6.87 6.50 5.24 -1.34 -1.26 -0.47 -0.47 -1.00 -0.08 -0.07 0.02 5.40 5.24
03/31/2002 10.85 9.19 7.71 6.43 -1.37 -1.28 -0.48 -0.31 -0.17 -0.09 -0.01 0.03 6.62 6.43
12/31/2001 9.94 5.45 3.92 2.66 -1.36 -1.26 -0.60 -0.18 -0.24 -0.10 -0.17 0.07 2.92 2.66
09/30/2001 9.16 5.23 4.72 3.46 -1.33 -1.26 -0.48 -0.50 -0.74 -0.09 -0.17 0.02 3.55 3.46
06/30/2001 9.02 4.83 5.20 3.93 -1.31 -1.27 -0.59 -1.52 -0.86 -0.10 0.01 0.01 4.15 3.93
03/31/2001 10.73 9.18 7.24 5.96 -1.31 -1.28 -0.59 -0.27 0.27 -0.10 -0.06 0.01 6.15 5.96

Mandatory option expensing to starts for fiscal Q1 2006.

Option expense was phased in from 1996.
1996-2000 calculations based on fiscal reporting.
STANDARD & POOR'S INDEX SERVICES
S&P 500 12 MONTH VALUES

12 MONTH 12 MONTH
12 MONTH AS CORE 12 MONTH 12 MONTH
OPER REPORTED PRE-PEN INT CORE CASH
EARNS EARNS EARNS EARNS DIVIDENDS
DATE INDEX PER SHR PER SHR PER SHR PER SHR PER SHR
(type of estimate) (S&P IPC) (bot up) (top down) (top down) ( top down) (top down)

2008 estimate 105.57 91.60

2007 estimate 1560.00 93.54 85.93 84.23 82.55 27.85

09/30/2007 1526.75 26.97

06/30/2007 1503.35 91.53 84.95 26.17
03/31/2007 1420.86 89.36 83.15 25.49
12/31/2006 1418.30 87.72 81.51 81.47 81.02 24.88
09/30/2006 1335.85 85.92 78.57 78.76 76.69 24.10
06/30/2006 1270.20 81.73 74.49 74.99 72.58 23.44
03/31/2006 1294.83 79.20 72.67 71.59 69.81 22.79
12/31/2005 1248.29 76.45 69.93 67.83 65.58 22.22
09/30/2005 1228.81 74.21 66.57 64.68 63.41 21.48
06/30/2005 1199.95 72.25 63.36 60.40 58.88 20.93
03/31/2005 1180.59 69.81 60.32 58.30 56.59 20.23
12/31/2004 1211.92 67.68 58.55 56.57 55.16 19.44
09/30/2004 1114.56 64.61 57.77 54.47 53.07 19.16
06/30/2004 1140.84 62.14 56.15 53.38 52.63 18.60
03/31/2004 1126.21 58.08 52.00 49.35 48.96 18.02
12/31/2003 1111.92 54.69 48.74 46.08 45.79 17.39
09/30/2003 995.97 51.75 38.58 40.03 38.51 16.59
06/30/2003 974.50 48.95 34.55 35.69 32.93 16.17
03/31/2003 848.18 47.67 30.32 31.74 27.84 16.23
12/31/2002 879.82 46.04 27.59 28.67 23.66 16.08
09/30/2002 815.28 44.04 30.04 25.14 20.10 15.80
06/30/2002 989.81 41.59 26.74 22.85 17.79 16.04
03/31/2002 1147.39 38.97 24.70 21.55 16.48 15.73
12/31/2001 1148.08 38.85 24.69 21.07 16.00 15.74
09/30/2001 1040.94 42.02 28.31 15.74
06/30/2001 1224.38 47.03 36.79 15.69
03/31/2001 1160.33 52.89 45.44 15.97
12/31/2000 1320.28 56.13 50.00 41.55 38.86 16.27
09/30/2000 1436.51 56.79 53.70 16.34
06/30/2000 1454.60 55.59 51.92 16.70
03/31/2000 1498.58 53.92 50.95 16.76
12/31/1999 1469.25 51.68 48.17 40.05 39.91 16.69
09/30/1999 1282.71 49.38 43.96 16.64
06/30/1999 1372.71 46.86 41.02 16.45
03/31/1999 1286.37 45.08 38.38 16.45
12/31/1998 1229.23 44.27 37.71 30.94 30.61 16.20
09/30/1998 1017.01 44.09 38.09 16.15
06/30/1998 1133.84 44.67 38.97 15.95
03/31/1998 1101.75 44.37 39.54 15.64
12/31/1997 970.43 44.01 39.72 35.36 35.31 15.49
09/30/1997 947.28 43.73 40.64 15.33
06/30/1997 885.14 42.62 40.55 15.16
03/31/1997 757.12 41.80 40.24 15.06
12/31/1996 740.74 40.63 38.73 36.02 35.90 14.90
09/30/1996 687.33 39.40 36.00 14.66
06/30/1996 670.63 39.26 34.91 14.27
03/31/1996 645.50 38.45 34.04 14.10
12/31/1995 615.93 37.70 33.96 13.79
09/30/1995 584.41 36.72 35.18 13.58
06/30/1995 544.75 34.97 34.43 13.37
03/31/1995 500.71 33.22 32.55 13.18
12/31/1994 459.27 31.75 30.60 13.18
09/30/1994 462.71 30.11 27.33 12.93
06/30/1994 444.27 29.00 25.20 12.84
03/31/1994 445.77 27.82 22.71 12.71
12/31/1993 466.45 26.90 21.89 12.58
09/30/1993 458.93 25.35 20.41 12.52
06/30/1993 450.53 23.55 19.33 12.52
03/31/1993 451.67 22.19 19.84 12.48
12/31/1992 435.71 20.87 19.09 12.38
09/30/1992 417.80 19.89 18.04 12.39
06/30/1992 408.14 19.88 17.05 12.32
03/31/1992 403.69 19.46 16.19 12.32
12/31/1991 417.09 19.30 15.97 12.20
09/30/1991 387.86 19.68 17.82 12.28
06/30/1991 371.16 20.54 19.41 12.15
03/31/1991 375.22 21.81 20.94 12.11
12/31/1990 330.22 22.65 21.34 12.09
09/30/1990 306.05 23.48 21.74 11.83
06/30/1990 358.02 23.05 21.26 11.66
03/31/1990 339.94 23.52 21.67 11.32
12/31/1989 353.40 24.32 22.87 11.05
09/30/1989 349.15 24.85 23.69 10.67
06/30/1989 317.98 25.53 25.22 10.30
03/31/1989 294.87 25.05 24.96 9.98
12/31/1988 277.72 24.12 23.75 9.73
09/30/1988 271.91 22.73 9.46
06/30/1988 273.50 21.67 9.23
03/31/1988 258.89 18.59 8.95
12/31/1987 247.08