Document MGxBxvGJ4KX9qa2p4Jg3DyJ6L

elOvk Page 77 of 84 Table of Contents COOPER INDUSTRIES, LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTE 20: CONSOLIDATING FINANCIAL INFORMATION Cooper fully and unconditionally guarantees the registered debt securities of Cooper Ohio, a wholly owned indirect subsidiary The following condensed consolidating financial information is included so that separate financial statements of Cooper Ohio are not required to be filed with the Securities and Exchange Commission The consolidating financial statements present investments in subsidiaries using the equity method of accounting Intercompany investments in the Class A and Class B common shares are accounted for using the cost method Consolidating Income Statements Year Ended December 31,2004 (in millions) Revenues Cost of sales Selling and administrative expenses Interest expense, net Equity in earnings of subsidiaries, net of tax Intercompany income (expense) Income before income taxes Income tax expense (benefit) Net income Cooper $-- 07 95 (1 0) 353 4 _J44) 339 8 -- $339 8 Cooper Ohio $ 185 5 124 1 90 5 47 8 377 5 (256 9) 43 7 (1183) $ 162 0 Other Subsidiaries $ 4,290 8 3,008 3 746 6 21 3 162 0 261 3 937 9 207 0 $ 730 9 Consolidating Adiustments $ (13 4) (13 4) -- -- (892 9) -- (892 9) -- $ (892 9) Total $4,462 9 3,1197 846 6 68 1 -- -- 428 5 88 7 $ 339 8 Consolidating Income Statements Year Ended December 31,2003 (m millions) Revenues Cost of sales Selling and administrative expenses Restructuring Interest expense, net Interest income on tax refund Equity in earnings of subsidiaries, net of tax Intercompany income (expense) Income from continuing operations before income taxes Income tax expense (benefit) Income from continuing operations Charge related to discontinued operations, net of taxes Net income (loss) Cooper $-- -- 72 -- (0 3) -- 1 65 8 (0 2) 1 58 7 -- 1 58 7 -- $158 7 Cooper Ohio $ 281 8 183 9 115 1 (13 1) 53 3 (28 6) 342 1 (338 3) (25 0) (134 0) 109 0 126 0 $ (17 0) Other Subsidiaries $ 3,804 3 2,712 7 672 6 15 7 21 1 -- (17 0) 348 9 714 1 206 2 507 9 -- $ 507 9 Consolidating Adiustments $ (24 7) (24 7) -- -- -- -- (490 9) (10 4) (501 3) -- (501 3) -- $ (501 3) Total $4,061 4 2,871 9 794 9 26 74 1 (28 6) -- -- 346 5 72 2 274 3 126 0 $ 148 3 F-34 http7/www sec gov/Archives/edgar/data/1141982/000095012905001490/h22660el0vk htm 2/6/2006