Role of Information and technology in banking and finance .pptx
Cummins_3Q06_ng
1. Non-GAAP Reconciliation –
EBIT
Three Months Ended
Millions Oct 1, Sep 25, July 2,
2006 2005 2006
Segment EBIT $ 296 $ 240 $ 325
Interest Expense $ (23) $ (27) $ (26)
Earnings before income taxes and $ 273 $ 213 $ 299
minority interests
EBIT = Earnings before interest, taxes, and minority interests.
We use EBIT to assess and measure the performance of our operating segments and also as a component in measuring our
variable compensation programs. The table above reconciles EBIT, a non-GAAP financial measure, to our consolidated
earnings before income taxes and minority interests, for each of the applicable periods.