2. The following reconciles each non-GAAP measure with the most directly comparable
GAAP measure ($ M):
2003 2004 2005 2006 2007 2008 2009E
Operating Profit * $1,936 $2,258 $2,565 $3,053 $3,496 $4,802 ~$3,640 - $3,885
% Sales * 14.2% 14.8% 15.2% 15.5% 15.8% 16.5% 15.9 - 16.4%
Interest Expense and
Other Deductions, Net (544) (428) (433) (380) (403) (491) ~(630 - 660)
Pretax Earnings $1,392 $1,830 $2,132 $2,673 $3,093 $3,591 ~$2,980 - 3,255
% Sales 10.2% 12.0% 12.6% 13.5% 14.0% 14.5% 13.0% - 13.8%
2003 2004 2005 2006 2007 2008 2009E
Operating Cash Flow $1,731 $2,216 $2,187 $2,512 $3,016 $3,293 ~$3,200 - 3,400
Capital Expenditures (337) (400) (518) (601) (681) (714) ~$700
Free Cash Flow* $1,394 $1,816 $1,669 $1,911 $2,335 $2,579 ~$2,500 - 2,700
Net Earnings $1,089 $1,257 $1,422 $1,845 $2,136 $2,412 ~$2,000 - 2,200
% of Net Earnings
Operating Cash Flow 159% 176% 154% 136% 141% 137% 142% - 160%
Capital Expenditures (31%) (32%) (37%) (32%) (32%) (30%) 30% - 32%
Free Cash Flow* 128% 144% 117% 104% 109% 107% 110% - 130%
Sales $13,958 $15,615 $17,305 $20,133 $22,572 $24,807 ~$23,000 - 23,700
% of Sales
Operating Cash Flow 12.4% 14.2% 12.6% 12.5% 13.4% 13.3% ~14.0 - 14.5%
Capital Expenditures (2.4%) (2.6%) (3.0%) (3.0%) (3.0%) (2.9%) ~(3%)
Free Cash Flow* 10% 11.6% 9.6% 9.5% 10.3% 10.4% 11.0% - 11.5%

3. 1994 1995 1996 1997 1998 1999 2000 2001
Underlying Sales* 6.6% 7.9% 5.4% 4.5% 4.8% 1.8% 7.2% 0.7%
Currency/Acq/Div (1.3%) 8.4% 6.0% 5.8% 4.5% 4.3% 1.7% (1.1%)
Net Sales 5.3% 16.3% 11.4% 10.3% 9.3% 6.1% 8.9% (0.4%)
2002 2003 2004 2005 2006 2007 2008 2009E
Underlying Sales* (11.5%) (1.4%) 8.3% 5.7% 12.5% 6.9% 6.8% (3-6%)
Currency/Acq/Div 0.8% 2.9% 3.6% 5.1% 3.8% 5.2% 5.3% (2 pts)
Net Sales (10.7%) 1.5% 11.9% 10.8% 16.3% 12.1% 12.1% (5-8%)
Business Group Reconciliation
Process Network Power Industrial Climate Appliance & Tools
Management Automation Technologies
2008 2009E 2008 2009E 2008 2009E 2008 2009E 2008 2009E
Underlying 14% 6-8% 11% (2-6%) 7% (9-12%) 3% (6-10%) (3%) (14-17%)
Sales*
Currency/Acq/Div 3% (7 pts) 12% (4 pts) 7% (4 pts) 3% (3-4 pts) (1%) -
Total Sales 17% (1)-1% 23% (6-10%) 14% (13-16%) 6% (10-13%) (4%) (14-17%)