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elOvk Page 25 of 84 Table of Contents $1 34 billion and average interest rates were 5 63% and 5 82% for 2004 and 2003, respectively The decrease in average interest rates primarily resulted from the benefit of interest rate swaps entered into during August 2003 that effectively converted $300 million of 5 25% fixed-rate debt to variable-rate debt at the six month LIBOR rate plus 1 91% Interest expense, net decreased $0 4 million in 2003 compared to 2002 Higher average interest rates on lower average debt balances resulted in an increase in interest expense that was offset by an increase in interest income earned on higher cash and cash equivalent balances Average debt balances were $1 34 billion and $1 40 billion and average interest rates were 5 82% and 5 37% for 2003 and 2002, respectively The increase in average interest rates primarily resulted from Cooper's replacement in 2002 of substantially all variable rate commercial paper borrowings with long-term fixed-rate debt During August 2003, Cooper entered into interest-rate swaps to effectively convert $300 million of 5 25% long-term fixed-rate debt to variable-rate debt at the six-month LIBOR rate plus 1 91% (with semi-annual reset) The notional principal amount and maturity dates of the interest-rate swaps match the underlying long-term debt During the years ended December 31, 2004 and 2003, Cooper recognized $5 1 million and $2 4 million, respectively, reductions of interest expense, net related to the interest-rate swaps Interest Income on Tax Refund During October 2003, Cooper received a refund of $75 9 million for certain claims relating to tax years prior to 1994 The refund included interest of $28 6 million See Note 12 of the Notes to the Consolidated Financial Statements Income Tax Expense The effective tax rate attributable to continuing operations for 2004 was 20 7% compared to 20 8% for 2003 The effective tax rate attributable to continuing operations for 2003 was 20 8% compared to 23 7% for 2002 The effective tax rate attributable to continuing operations decreased in 2003 when compared to 2002, primarily as a result of full year effect of the reorganization as discussed in Note 1 of the Notes to the Consolidated Financial Statements See Note 12 of the Notes to the Consolidated Financial Statements Charge Related to Discontinued Operations In the fourth quarter of 2003, Cooper concluded that an additional $126 0 million charge, net of a $70 9 million income tax benefit, related to potential asbestos obligations regarding the Automotive Products segment which was sold in 1998 was required in order to adjust the existing accrual to an amount that will be within the likely range of outcomes See Note 16 of the Notes to the Consolidated Financial Statements Diluted Earnings Per Share Diluted earnings per share from continuing operations was $3 58 in 2004, $2 92 in 2003 and $2 28 in 2002 Percentage ofRevenues Cost of Sales Electrical Products Tools & Hardware Selling and Administrative Electrical Products Tools & Hardware _______Year Ended December 31, 2004 2003 2002 69 3% 72 6% 69 9% 74 9% 71 2% 75 0% 17 0% 18 9% 17 2% 19 5% 16 7% 20 7% 2004 vs 2003 Percentage ofRevenues Electrical Products segment cost of sales, as a percentage of revenues, decreased 0 6 points compared to 2003 The decrease in cost of sale percentage was primarily a 21 http //www.sec gov/Archives/edgar/data/l 141982/000095012905001490/h22660el0vk htm 2/6/2006
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elOvk Page 82 of 84 Table of Contents COOPER INDUSTRIES, LTD.
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A.; Reporfbn the Expert Panel on .Health Effects of Asbestos and SyntbetiCiYitreous Fibers: The Influence ofFiberLength -sm ,j . ; Ui'i C ' ' ; " :r 'r ' Preparedfor: Agency for Toxic.
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EFFECTS-HUMAN EALTH 42920 ccntralion or dose, was linear on a logarithmic scale.
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IGNACIO SERAFIN vs.
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BRAKE SYSTEM DIAGNOSIS AND TESTING LESSON ONE-MODULE 1 Brakes Pull or Drift If the vehicle does not travel in a straight line when the brakes are applied, it indicates uneven braking at one or more wheels.
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LESSON ONE-MODULE 2 BRAKE SYSTEM SERVICE PARKING BRAKE SERVICE The parking brake system should be inspected and adjusted whenever the service brakes are repaired.
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206-02-2 GENERAL PROCEDURES Brake Shoe Adjustment Drum Brake Brake Drums Removed 206-02-^ Special Tool(s) Brake Adjusting Gauge 206-D002 (D81L-1103-A) or equivalent ST1468-A Brake Adjustment Tool 206-D003 (D81L-1103-C) or equivalent y )' i fV !
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SUL/ATI ON J-M INSULATING FIRE BRICK | DESCRIPTION: Johns-Manville produces six types of Insulating Fire Brick to provide opera tors and builders of high temperature equipment six opportunities to get the one insulating Ere brick that's right for a given service.
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SUPERIOR COURT OF NEW JERSEY LAW DIVISION - MIDDLESEX COUNTY DOCKET NO.
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PLAINTIFF'S EXHIBIT Golden Triangle Petrochemical Directory Orange 2000-2001 Homesite Company TEL/FAX orders to: (800) 807-4806 All Homesite Company directories provide basic location and background details about major specialized plants.
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