Finantial WACC

Corporation’s Weighted Average Cost of Capital

February WebWorks Instructions:

Using the data in the Excel files February Webworks Data.xlsx and SP500 earnings data.xls, calculate the weighted average cost of capital for 3M Corporation. Your estimate will be as of the day I gathered data—1/11/2013, and I believe all of the data you need is available in the two files. If you need some other data in addition to what I’ve provided, first try to get it as of 1/11/2013. If you can’t get that, then use data as of the date of your analysis.

Your submission should be a single Excel file that has your detailed calculations split up into intuitive sections with an explanation of what you are doing and why. There are a number of judgment decisions you’ll have to make in this project and you need to explain at each step what choices you had, what choice you made, and why.

For your final “numerical answer” you will need a single WACC, which will be your best guess at the company’s cost of capital given the assumptions you’ve made. Also provide a discussion about the range the actual WACC is likely to fall in based on your analysis.

3M Corporation’s Weighted Average Cost of Capital

February WebWorks Instructions:

S T

&PEs http://www.standardandpoors.com/indices/sp-

5 0

0/en/us/?indexId=spusa-500-usduf–p-us-l– S&P

ow Jones Indices S&P 500 EA R NI

GS AN

D E

STI MA

TE REPORT 1

3 Howard Silverblatt S&P Senior

Index

Analyst howard_silverblatt@spdji.com I personally think the

% 2013 operating earnings estimate gain is high at

for ’13 vs.

8.99

for ’12 And while the initial 201

estimates shows a lower growth rate, at 13.1% to $12

for ’14 I just don’t see a

.7% EPS gain over the next two years – but it sure would change the mid-term election projections -> at that growth rate I could expect

P/E

expansion, and even at a moderate

that would put the S&P 500 2014 price higher than the year ( at 20

) S&P 500

S&P 500 5YR

S&P 500

MID

P MIDCAP 5YR

MIDCAP

SMA

LCAP SMALLCAP 5YR

SMALLCAP
2013 EST PROJ AN

AL PEG

2013 EST PROJ ANNUAL PEG 2013 EST PROJ ANNUAL PEG
O

PER

P/E GROWTH %

OPER P/E GROWTH % OPER P/E GROWTH %
Index

13.07 10.

64 1.23 16.02 1

2.72 1.

26 16.50 13.50 1.

22 Consumer Discretionary 15.33 15.58 0.98 15.79 14.

44 1.09 15.69 14.

70 1.07 Consumer Staples 15.

35 9.

32 1.65

15.35

10.72 1.43 16.79 13.20 1.

27 Energy 11

39 6.32 1.80 14.93 13.04 1.14 17

.74 18

.06

0.98
F

inancials 11.89 10.28 1.16 18.72 8.36 2.24 17.

41 9.67

1.80
Health Care 13.29 9.01 1.47 1

6.83 18.96 0.89 17.65 16.36 1.08 Industrials 13.

48 11.18 1.

21 1

4.03 13.41 1.05 15.55 14.72 1.06 Information Technology 12.00 14.43 0.83 16.48 16.09 1.02 16.37 16.24 1.01 Materials 13.65 8.62 1.58 14.22 10.

46 1.36 16.32 1

0.75 1.

52 Telecommunication Services 1

6.71 5.

30 3.15 29.14 13.24 2.20 19

.12 25.66

0.75
Utilities 14.42

4.03

3.58 1

5.43 6.92 2.23 15.62 4.92 3.17 OB

ATION Q4,12′ EST Q1,’13 EST Q2,’13 EST Q3,’13 EST Q4,’13 EST

2013 EST
6/30/11 $29.93 9/30/11 $29.57 12/30/11 $28.32 3/30/12

$28.32

$27.42 $1

17.91 6/29/12 $27.93 $27.

53 $

117

.75 9/28/12 $26.87 $26.93 $115.00 12/

/12 $25.29 $26.18 $27.84 $28.52 $29.63 $112.17 1/10/13 $25.32 $

26.29 $

27.97 $28.63 $29.72 $1

12.62 20 issues reported for Q4,’12, with 13 beats, 5 misses and 2 on target Of the 28 with full operating comparative data for Q4,’12: 18 beat, 6 missed, and 4 met their estimates S&P 500 Q4,’12 OPER EPS

————-

ISSUES

——————–

———– PERCENTA

——————– SECTOR REPORT

ED BEAT MISSED MET REPORTED

BEAT MISSED MET
Energy 0 0 0 0

0.00%

0.00% 0.00% 0.00%
Materials 3 2 0 1

10.00% 6

6.67%

0.00%

3.33% Industrials 2 1 1 0 3.33%

50.00%

50.00% 0.00%
Consumer Discretionary 8 6 2 0

9.64% 75.00% 25.00%

0.00%
Consumer Staples 5 4 1 0

11.90% 80.00% 20.00%

0.00%
Health Care 0 0 0 0 0.00% 0.00% 0.00% 0.00%
Financials

3 1 1 1

3.70% 33.33%

33.33% 33.33%
Information Technology 7 4 1 2 10.00%

57.14% 14.29

% 28.57% Telecommunication Services 0 0 0 0 0.00% 0.00% 0.00% 0.00%
Utilities 0 0 0 0 0.00% 0.00% 0.00% 0.00%
S&P 500 28 18 6 4

% 6

4.29% 21.43% 14.29% S&P 500 BOTTOM-UP

OPERATING

ESTI

MAT

ES OVER TIME Data as of the close of:

1/10/13
S&P 500 close of: 1472.12 Dividend yield (last 12 months: Dec,’12) 2.12% Dividend yield (indicated rate) 2.20% This is Howard’s projected dividend yield OPERATING

AS REPORTED

OPERATING OPERATING AS REPORTED OPERATING

— 12

MON

TH EARNINGS PER

HAR

— QUAR

TER

EARNINGS EARNINGS EARNINGS EARNINGS EARNINGS EARNINGS OPERATING AS REPORTED OPERATING
END PR

ICE PER SHR

PER SHR PER SHR P/E P/E P/E EARNINGS EARNINGS EARNINGS
(ests are

(ests are (ests are (ests are (ests are (ests are (ests are (ests are (ests are
bottom up) top down)

top down) bottom up) top down) top down) bottom up) top down) top down)
ESTIMATES
12/31/2013

$29.72

$24.90 $27.88

13.07

14.62 1

3.73 $1

12.61 $

100.71 $107.20 09/30/2013

$28.63

$26.04 $27.74 13.60 15.17 14.04 $108.21 $97.05 $104.83 06/30/2013 $27.97 $25.40 $26.73 14.21 20.73 14.56 $103.58 $92.22 $101.09 03/31/2013

$26.29

$24.37 $

24.85 14.57 1

6.65 14.75 $101.04 $8

8.44 $99.79 12/31/2012 (4.2%) 1426.19

$25.32

21.24 $25.

51 1

4.87 16.90 14.84

$98.99

$87.10 $99.18 14.41

16.37

14.38 (P/E on Dec,’12 price) ACTUAL 09/30/2012 1440.67 $24.00 $

21.21 14.79 16.66 $97.40 $86.50 06/30/2012 1362.16 $25.43 $21.62 13.80 1

5.49 $98.69 $87.92 03/31/2012 1408.47 $24.24 $23.03 14.35 1

5.91 $98.12 $88.

54 12/31/2011 1257.60 $23.73 $20.64

13.04

14.46 $96.44 $86.95 09/30/2011 1131.42

$25.29

22.63 11.95 13.01 $94.64 $86.98 06/30/2011 1320.64 $24.86 $

22.24 1

4.53 15.75 $90.91 $83.87 03/30/2011 1325.83 $22.56 $21.44 15.25 16.31

$86.95

.31 12/31/2010 1257.64 $21.93 $20.67 15.01 16.26 $83.77 $77.35 09/30/2010 1141.20 $21.56 $19.52 14.

45 15.88 $79.00 $71.86 06/30/2010 1030.71 $20.90 $19.68 14.08 15.36 $73.22 $67.10 03/31/2010 1169.43 $19.38 $

17.48 17.68 19.19 $66.13 $60.93 12/31/2009 11

15.10 $17.16 $1

5.18 19.61 2

1.88 $56.86 $50.97 09/30/2009 1057.08 $15.

78 $14.76 26.69 84.30 $39.61 $12.54 06/30/2009 919.32 $13.81 $

13.51 23.10 1

22.41 $39.79 $7.51 03/31/2009 797.87 $10.11 $7.52 18.56 116.31 $43.00 $6.86 12/31/2008 903.25 –

$0.09 -$23.25 18.24 60.70 $49.51 $14.88 09/30/2008 1166.36 $15.96 $9.73 17.99 25.38 $64.82 $4

5.95 06/30/2008 1280.00 $17.02 $12.86 18.36 24.92 $69.73 $51.37 03/31/2008 1

322

.70 $

16.62 $

15.54 17.23 21.90 $76.77 $60.39 12/31/2007 1468.36 $15.22 $7.82 17.79 22.19 $82.54 $66.18 09/30/2007 15

26.75 $20.87 $

5.15 17.09 19.42 $89.31 $78.60 06/30/2007 1503.35 $24.06 $21.88 16.44 17.70 $91.47 $84.92 03/31/2007 1420.86 $22.39 $21.33 15.90

17.09

$89.36 $83.15 12/31/2006 14

18.30 $21.99 $20.24 16.17 17.40 $87.72 $81.51 09/30/2006 1335.85

$23.03

$21.47

15.55

17.00 $85.92 $78.57 06/30/2006 1270.20 $21.95 $20.11

15.54

17.05 $

81.73 $74.49 03/31/2006 1294.83 $20.75 $19.69 16.35 17.82 $79.20 $72.67 12/31/2005 1248.29 $20.19 $17.30 16.33 17.85 $76.45 $69.93 09/30/2005 1228.81 $18.84 $17.39 16.56 18.46 $74.21 $66.57 06/30/2005 1191.33 $19.42 $18.29 16.49 18.80 $72.25 $63.36 03/31/2005 1180.

59 $18.00 $16.95 16.91 19.57 $69.81 $60.32 12/31/04 1211.92 $17.95 $13.94

17.91

20.70 $67.68 $58.55 09/30/2004 11

4.58 $16.88 $14.18 1

7.25 19.29 $64.61 $57.77 06/30/2004 1140.84 $16.98 $15.25

18.36

20.32 $62.14 $56.15 03/31/2004 1126.21 $15.87 $15.18 19.39 21.66 $58.08 $52.00 12/31/03 1111.92

$14.88

$13.16 20.33 22.81 $54.69 $48.74 09/30/2003 995.97 $14.41 $12.56 19.25 25.82 $51.75 $38.58 06/30/2003 974.50 $

12.92 $

11.10 19.91 28.21 $48.95 $34.55 03/31/2003 848.18 $12.48 $11.92

17.79 27.97

$47.67 $30.32 12/31/2002 879.82 $11.94 $3.00 19.11 31.89 $46.04 $2

7.59 09/30/2002 815.28 $11.61 $8.53 18.52 27.14 $

44.04 $30.04 06/30/2002 989.81 $11.64 $6.87 23.80 37.02 $41.59 $26.74 03/31/2002 1147.39 $10.85 $9.19 29.44 46.45 $38.97 $24.70 12/31/2001 1148.08 $

9.94 $5.45 29.55 46.50 $38.85 $24.69 09/30/2001 1040.94 $9.16 $5.23 2

4.77 36.77 $42.02 $28.31 06/30/2001 1224.38 $9.02 $4.83 26.03 33.28 $47.03 $36.79 03/31/2001 1160.33 $10.73 $9.18 21.94 25.54 $52.89 $45.44 12/31/2000 1320.28 $13.11 $9.07 23.52 26.41 $56.13 $50.00 09/30/2000 1436.51 $14.17 $13.71 25.30

26.75

$56.79 $53.70 06/30/2000 1454.60

$14.88

$13.48 26.17 28.02 $55.59 $

51.92 03/31/2000 1498.58 $1

3.97 $

13.74 27.79 29.41 $53.92 $50.95 12/31/1999 1469.25 $13.77 $1

2.77 28.43 30.50 $51.68 $48.17 09/30/1999 1282.71 $12.97 $11.93 25.98 29.18 $49.38 $43.96 06/30/1999 1372.71 $1

3.21 $12.51 29.29 33.46 $46.86 $41.02 03/31/1999 1286.37 $11.73 $10.96 28.54 33.52 $45.08 $38.38 12/31/1998 1229.23 $11.47 $8.56 27.77 32.60 $44.27 $37.71 09/30/1998 10

17.01 $10.45 $8.99 23.07 26.70 $44.09 $38.09 06/30/1998 1133.84 $11.43 $9.87

25.38

29.10 $44.67

$38.97
03/31/1998 1101.75 $10.92 $10.29 24.83 2

7.86 $44.37 $39.54 12/31/1997 970.43 $11.29 $8.94 22.05 24.43 $4

4.01 $39.72 09/30/1997 947.28 $11.03

$9.87 21.66

23.31 $43.73 $40.64 06/30/1997 885.14 $11.13 $10.44 20.77 21.83 $42.62 $40.55 03/31/1997 757.12 $10.56 $10.47 18.11 18.82 $41.80 $40.24 12/31/1996 740.74 $11.01 $9.86 18.23 19.13 $40.63 $38.73 09/30/1996 687.33 $9.92 $

9.78 17.44 19.09 $39.40 $36.00 06/30/1996 670.63 $10.31 $10.13 17.08 19.21 $39.26 $34.91 03/31/1996 645.50 $9.39 $8.96

16.79 18.96

$38.45 $34.04 12/31/1995 6

15.93 $9.78 $7.13 16.34 18.14 $37.70 $33.96 09/30/1995 584.41

$9.78

$8.69 15.92 1

6.61 $36.72 $35.18 06/30/1995 544.75 $9.50 $9.26

15.58

15.82 $34.97 $34.43 03/31/1995 500.71 $8.64 $8.88 15.07 15.38 $33.22 $32.55 12/31/1994 459.27 $8.80 $8.35 14.47

15.01

$31.75 $30.60 09/30/1994 462.71 $8.03 $7.94 15.37 16.93 $30.11 $27.33 06/30/1994 444.27 $7.75 $7.38 15.32 17.63 $29.00 $2

5.20 03/31/1994 445.77 $7.17 $6.93

16.02

19.63 $27.82 $22.71 12/31/1993 466.45 $7.16 $5.08 17.34 21.31 $26.90 $21.89 09/30/1993 458.93 $6.92 $5.81 18.10 22.49 $25.35 $20.41 06/30/1993 450.53 $6.57 $4.89

19.13 23.31

$23.55 $19.33 03/31/1993 451.67 $6.25 $6.11 20.35 22.77 $22.19 $19.84 12/31/1992 435.71 $5.61 $3.60 20.88 22.82

$20.87

$19.09 09/30/1992 4

17.80 $5.12 $4.73 21.01 23.16 $19.89 $18.04 06/30/1992 408.14 $5.21 $5.40 20.53 23.94 $1

9.88 $17.05 03/31/1992 403.69 $4.93 $5.36 20.74 24.93 $19.46 $16.19 12/31/1991 417.09 $4.63 $2.55 21.61 26.12 $19.30 $15.97 09/30/1991 387.86 $5.11 $3.74 19.71 21.77

$19.68

$17.82 06/30/1991 371.16 $4.79 $4.54 18.07

19.12

$20.54 $19.41 03/31/1991 375.22 $4.77 $5.14 17.20 17.92 $21.81 $20.94 12/31/1990 330.22 $5.01 $4.40

14.58

15.47 $22.65 $21.34 09/30/1990 306.05 $5.97 $5.33 13.03

14.08

$23.48 $21.74 06/30/1990 358.02 $6.06 $6.07 15.53 16.84 $23.05 $21.26 03/31/1990 339.94

$5.61

$5.54

14.45 15.69

$23.52 $21.67 12/31/1989 353.40 $5.84 $4.80

14.53

15.45 $24.32 $

22.87 09/30/1989 349.15

$5.54

$4.85 14.05 14.74

$24.85

$23.69 06/30/1989 317.98 $6.53 $6.48 12.46

12.61

$25.53 $25.22 03/31/1989 294.87 $6.41 $6.74 11.77 11.81 $25.05 $

24.96 12/31/1988 277.72 $6.37 $5.62 11.51 11.69 $24.12 $23.75 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 Operating earnings: Income from product (goods and services), excludes corporate (M&A, financing, layoffs ), and unusual items As Reported earnings: Income from continuing operations, also known G

P (Generally Accepted Accounting Principles) and As Reported Bottom up estimate: Capital IQ consensus estimate for specific issue, building from the bottom up to the index level estimate Top down estimate: S&P estimate (Economics Department) incorporates models (economic, financial, policy), does not come down to the issue level Actual earnings are bottom up Estimates are bottom up and top down, as marked Charts are normalized operating estimates based on Capital IQ consensus estimates

howard_silverblatt@spdji.com

SECTOR EPS

Data as of the close of: 1/10/13

12/31/12

NAME

INDEX NAME

Operating Earnings Per Share by Economic Sector

S&P 500 1472.12

$17.02 $15.96

$10.11 $13.81 $15.78 $17.16 $19.38 $20.90 $21.56 $21.93 $22.56 $24.86 $25.29 $23.73 $24.24 $25.43 $24.00 $25.32 $26.29 $27.97 $28.63 $29.72 $49.51 18.24 $56.86 19.61 $83.77 15.01 $96.44 13.04 $98.99 14.41 $112.62 13.07 1426.19

1257.64

903.25 S&P 500

$4.63

$5.45 $6.25

$10.96

16.24

15.33

S&P 500 Consumer Discretionary

$5.01

$5.48 $5.73

$5.33 $6.06

$6.46

15.69

15.35

Nov-00

S&P 500 Consumer Staples

$10.13 $11.29

7.59

11.81

11.39

S&P 500 Energy

$4.27 $4.05

$4.83 $4.88 $5.06

$4.40 44.04

11.89

S&P 500 Financials

$6.92

$7.70

$8.35

$8.88 $9.18

12.62

14.29

13.29

S&P 500 Health Care

$5.12 $5.97 $5.46 $4.63

$3.75

$4.85

$5.54

$5.48

$6.46

9.78

17.09

16.36

13.48

S&P 500 Industrials

$4.44 $4.56

$5.54 $6.11

$9.26 $8.27

14.38

21.21

13.04

12.00

Feb-01

S&P 500 Information Technology

$4.73 $3.43

$4.96 $5.44 $3.92

$5.12 $4.15

$8.09 17.01 $7.09

13.07

13.65

S&P 500 Materials

$2.11

$1.98

$1.91

$1.95

$1.98

15.88

S&P 500 Telecommunication Services

$3.20

$3.81

$3.66

13.74

12.92

$11.73 15.15 $12.47 14.42

Jun-00

S&P 500 Utilities

$7.52

$9.12

$11.94

$14.41

17.91

17.48

16.02

S&P 400

$2.98

$4.43 $4.40

$3.66 $4.66

$5.66

$7.16 $9.10

18.51 $24.70 17.97

15.79

S&P 400 Consumer Discretionary

$7.13

$5.45

$9.47

$11.93

$13.93

14.56

15.90

16.31

17.00

15.35

S&P 400 Consumer Staples

$13.40

$6.91

$9.10

$7.93 $5.54

$10.45

21.31

15.10

$47.94 14.93

S&P 400 Energy

$5.51 $2.66

$2.57

$3.49

$6.20

$6.26 $7.22

$7.08

$12.87

18.72

S&P 400 Financials

$4.04

$4.46

$4.59 $4.89 $5.36

$5.11 $5.21

$5.28 $6.57 $8.50

$6.86

$9.40 $9.29

$28.52 17.17 $31.34

$38.85 16.83

S&P 400 Health Care

.79

$3.90

$4.36

$7.55

$6.83

$8.99

11.35 $15.18

14.74

15.54

Feb-01

S&P 400 Industrials

$6.65

$14.17

$12.98

21.24

$50.95

16.48

S&P 400 Information Technology

$3.93 $5.73 $4.52

$2.59 $2.89 $2.55

$4.29 $4.77

$3.41

$4.83

$4.79

$5.03

8.44 $9.32

14.22

S&P 400 Materials

$4.37

$3.20

$6.84 $1.87

$2.08

$1.68 $2.09 $1.88

8.83

16.02

$7.23

$6.29

29.14

Jun-00

S&P 400 Telecommunication Services

$4.65

$3.48

$5.01

$5.65

$6.10

$5.11

$5.62

$4.43

$7.19

$5.23

$7.33

15.62

15.07

17.48

15.43

Oct-00

S&P 400 Utilities

$4.28

$3.45 $4.28

$4.40 $4.74 $5.36 $5.26 $5.23 $5.28 $5.51 $5.58 $6.20 $6.71

26.29

$20.59 20.16

16.50

Feb-01

S&P 600

$1.06

$2.66

$1.98 $2.90

$4.06 $4.01

$4.57

$5.65 $4.74 $2.11

24.96 $13.11

15.69

S&P 600 Consumer Discretionary

$4.11

$7.75

$8.88

$7.75

$11.92

$13.69

$52.00 16.79

Jan-02

S&P 600 Consumer Staples

$7.01 $13.89

$2.45

$7.08

17.74

S&P 600 Energy

$3.15 $2.56

$3.55

$4.95 $6.26

$7.09

$8.98

$19.48

20.35

17.41

May-01

S&P 600 Financials

$4.65

$5.21 $5.93

$6.88

$7.98 $7.76

$10.04

19.57

17.65

Jan-02

S&P 600 Health Care

$6.11 $8.38

$2.75 $4.56 $5.11 $4.04

$5.98

$5.97 $6.03 $7.09

$6.11

$7.70 $7.56

12.39

22.63

17.97

15.55

Mar-01

S&P 600 Industrials

$1.77 $1.49

$0.09

$1.88 $2.08

$2.27 $1.63 $2.24

$3.40

$4.32 $4.44 $4.77 $4.43

21.61

$9.59

16.37

Aug-00

S&P 600 Information Technology

$4.77

$2.89 $3.75 $3.17 $2.85 $4.20

$2.71

$4.00 $3.11

$5.80 $5.23 $5.23

16.62

$20.96 16.32

Sep-00

S&P 600 Materials

2.36

$0.07

$0.04 $0.02 $0.04 $0.04 $0.04 $0.02 $0.04 $0.04 $0.03 $0.03 $0.03 $0.03 $0.03 $0.03

24.85

20.63

15.73

18.30 $0.12 19.12 2.42

2.79 2.73 4.87 S&P 600 Telecommunication Services

$2.25

$9.93 $2.26

$4.71

$4.52 $3.57

$11.70 $3.19 $4.01

$3.85 $4.67 $10.75

15.39

16.46

15.62

May-01

S&P 600 Utilities

$3.74 $3.86 $3.60

$3.05 $3.49 $3.80 $4.27 $4.65

$4.89

$5.55

$5.69 $5.41

$6.32

$6.73

$12.47 20.43

15.61

13.50

Oct-00

254.79

S&P Composite 1500

$2.35 $1.68

$2.45 $3.19 $3.90 $3.72 $4.23 $4.09 $4.61

$4.89 $4.74 $5.23 $4.56 $4.96 $5.32 $5.88 $5.14

$6.10 $6.71

16.90

15.39

Oct-00

221.96

S&P Composite 1500 Consumer Discretionary

$4.13 $4.40 $4.80

$4.00 $4.75

$5.12 $4.52 $4.99

$5.46 $5.11

$5.77

$5.70 $5.98

$5.58

$6.53

14.41

$22.19 15.77

15.37

Dec-00

283.70

S&P Composite 1500 Consumer Staples

$4.74 $6.16 $6.37

$11.12

$10.39 $11.94

$10.29

$12.56

7.86

14.82

11.07

12.14

454.73

S&P Composite 1500 Energy

$0.50

$1.27 $1.63

$3.86 $4.01 $3.57

$4.12 $4.54 $4.25

$4.56 $4.52 $4.21 $4.91 $5.05 $5.11 $5.32

$4.51

15.69

11.83

14.05

Jul-00

211.96

S&P Composite 1500 Financials

$5.88

$6.03 $5.51 $6.10 $6.34

$6.75

$7.17

$8.07

$8.20

$7.90

$8.89

12.96

14.37

13.40

13.37

14.74

Feb-01

362.62

S&P Composite 1500 Health Care

$5.11

$4.52 $3.00 $3.78

$4.14

$4.75 $4.99 $5.26 $4.66 $5.69 $5.66 $5.60 $5.62 $6.38 $6.06 $5.77 $5.87

$6.83 $6.91 $21.26

17.69

$21.62

13.65

Nov-00

252.97

S&P Composite 1500 Industrials

$4.49

$4.41 $2.41 $2.68 $3.55 $4.47 $6.39 $5.54 $6.18

$8.02 $7.22

$9.07 $8.06

$6.86

$9.09 $9.47

$11.52

22.24

15.92

13.51 $32.55

12.35

Feb-01

380.15

S&P Composite 1500 Information Technology

$4.99 $3.69

$1.06 $1.90

$2.24

$3.72 $3.42 $3.40 $4.90 $5.39 $3.92 $2.15 $4.31 $4.62

$3.12 $4.81

$4.49 $4.30 $9.33 14.93 $7.67

18.02 $16.36

Aug-00

203.97

S&P Composite 1500 Materials

$2.28

$1.87 $1.95 $1.87

$1.89 $1.78

$1.88 $2.26 $2.06

$2.03 $2.32 $2.47 $1.95 $8.26

$7.17 15.93 $7.35 17.44 $6.80

16.83

May-00

114.23

S&P Composite 1500 Telecommunication Services

$3.58

$4.13 $2.65 $3.25 $2.61 $4.00 $2.56 $3.85

$4.45 $2.46 $3.58 $3.01 $4.40

$3.36 $2.89 $4.09

$3.52

$4.53

12.46

14.05

14.57

Jul-00

174.50

S&P Composite 1500 Utilities

As Reported Earnings Per Share by Economic Sector

INDEX NAME Price 2008 Q1 2008 Q2 2008 Q3 2008 Q4 2009 Q1 2009 Q2 2009 Q3 2009 Q4 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 2011 Q3 2011 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2008 EPS 2008 P/E 2009 EPS 2009 P/E 2010 EPS 2010 P/E 2011 EPS 2011 P/E 2012 EPS 2012 P/E 2013 EPS 2013 P/E Price Price PRICE 12/10 PRICE 12/09 PRICE 12/08 INDEX NAME
S&P 500 1472.12

$12.86 $9.73 -$23.25 $7.52

$14.76 $15.18 $17.48 $19.68 $19.52 $20.67 $21.44

$20.64 $23.03 $21.62 21.21 $14.88 60.70 $50.97 21.88 $77.35 16.26 $86.95 14.46 1426.19 Jun-03 1257.64 1115.10 903.25 S&P 500

S&P 500 Consumer Discretionary 387.07 $2.03

$3.11 $3.79 $3.81 $4.36 $3.95 $4.54 $4.40 $5.02

$8.18 $4.73 $4.79 5.49

22.41

13.80 376.06 Nov-00 295.54 235.07 169.41 S&P 500 Consumer Discretionary

S&P 500 Consumer Staples 370.24 $3.71 $3.53 $4.49 $2.51 $3.48

$4.46 $4.28

$4.64

$5.96 $4.71 $5.08 $4.97 $4.26 $4.62

5.26

16.57 $19.09 15.90

360.78 Nov-00 303.58 274.30 246.66 S&P 500 Consumer Staples

S&P 500 Energy 549.24 $12.09 $13.12

$4.20 $5.89 $6.19 $8.27

$8.50

$12.53

$13.38

532.96 Jun-01 506.75 429.95 386.35 S&P 500 Energy

S&P 500 Financials 231.44

$1.95 $1.18 -$0.27 $3.49

$3.44 $3.60 $2.48 $4.32

$3.97 $4.14 3.73

$2.61

16.82

12.45 221.24 Jun-00 214.77 193.78 168.79 S&P 500 Financials

S&P 500 Health Care 484.58 $5.58 $5.71 $5.18

$5.89

$6.73 $6.90 $5.41 $6.17 $5.62 $5.26 $6.53

$6.39 $5.28 $7.19 $5.48 6.71 $19.09 16.21

14.14

16.24

15.88 462.95 Feb-01 364.78 362.22 309.41 S&P 500 Health Care

S&P 500 Industrials 339.95

$5.53

$1.93 $2.45 $3.28

$4.48

$4.71 $4.61 $5.36 $5.12 $5.08 $5.39 $5.96 5.15

11.76

$17.09 17.62

14.49 328.75 Oct-00 301.12 242.99 207.21 S&P 500 Industrials

S&P 500 Information Technology 473.62

$4.82

$0.02

$4.29 $6.26 $5.39

$7.76 $6.93

$6.24

$4.31 5.95

18.08

$29.06 14.11 463.82 Feb-01 404.55 370.71 231.81 S&P 500 Information Technology

S&P 500 Materials 246.88 $4.27 $4.52

$1.18 $2.41 $1.47 $2.69 $3.24 $4.00

$4.66 $5.06 $3.89

$4.13 2.04

$5.88

14.55 237.62 Jul-00 239.61 199.81 137.59 S&P 500 Materials

S&P 500 Telecommunication Services 148.81 $1.89 $2.20 $1.93 $0.99 $1.78

$1.60

$0.92 $1.36 $4.34 $1.11

$1.79

$1.74 1.88 $7.01 15.93 $5.85

16.67 $1.86

146.04 May-00 128.74 114.64 111.70 S&P 500 Telecommunication Services

S&P 500 Utilities 179.89 $3.32

$3.78

$2.37 $2.40 $3.47 $4.12

$2.83 $3.14 $3.74

$2.33 $2.47 2.72 $11.61

14.43

177.66 Jun-00 159.34 157.99 147.93 S&P 500 Utilities

S&P 400 1058.01 $8.94 $7.23

$6.11

$8.56 $8.70 $9.22 $11.21 $10.01 $10.06

$10.22

$11.94

$4.67

$20.54 35.38

May-02 907.25 726.67 538.28 S&P 400

S&P 400 Consumer Discretionary 458.89 $0.80

$1.60 $1.53 $3.26 $4.57 $3.48 $4.07 $4.26

$3.24 $3.85

$4.91 $4.57 6.20

$10.96

20.91 443.95 Dec-00 360.79 275.43 179.63 S&P 400 Consumer Discretionary

S&P 400 Consumer Staples 886 $6.07 $6.77 $7.73 $5.86 $5.35 $4.61 $7.71

$7.08 $9.02

$9.35 $2.87

$11.73

15.80 $26.87

16.71

862.71 Jan-02 619.59 495.72 417.56 S&P 400 Consumer Staples

S&P 400 Energy 715.81

$2.30 $7.39 $3.76

$6.46 $7.11 $11.92

$8.79 $9.33

3.21

695.36 Dec-01 786.99 604.81 361.64 S&P 400 Energy

S&P 400 Financials 534.17 $4.53

$4.09

$3.81 $3.51 $4.32 $4.81 $5.92

$5.87 $4.33 $5.70

7.25

26.40

Mar-01 489.73 422.69 391.04 S&P 400 Financials

S&P 400 Health Care 653.82 $4.21 $5.61 $3.23

$4.11 $4.16 $4.95 $4.12 $3.66 $3.44 $3.34 $4.64

$7.44 $6.68

$6.18 6.16 $12.08

$6.21

618.7 May-01 486.42 396.85 294.70 S&P 400 Health Care

S&P 400 Industrials 499.79 $4.52 $5.73 $1.71

$3.36

$3.64

$3.81 $5.19 $6.38 $4.79 $4.55 $6.43 $7.66 6.83 $8.96

$8.14

19.15 482.54 Feb-01 409.05 315.56 242.88 S&P 400 Industrials

S&P 400 Information Technology 1157.62

$3.35

$5.08 $5.80 $9.44

$4.45

$12.98

$14.84 9.94

51.92

1119.05 Aug-02 1105.38

528.08 S&P 400 Information Technology

S&P 400 Materials 303.82 $3.53 $3.95 $4.21

$2.42 $2.87

$4.51 $4.32 $2.99

$4.17 $1.18 $3.35 $3.79 $4.15 2.77 $7.97

22.87

17.73

18.86 291.69 Aug-00 245.23 194.89 128.06 S&P 400 Materials

S&P 400 Telecommunication Services 195.48

$3.78 $4.34

$3.20 $2.40 $0.94

$5.93

$1.51 $2.89 $2.40

$2.08 $1.80 1.49 $6.29

16.41

17.83 $7.11

187.72 Jun-00 183.36 161.65 143.16 S&P 400 Telecommunication Services

S&P 400 Utilities 311.72

$2.16 $5.01

$3.12 $2.65 $4.43 $3.05

$5.64

$2.93 $5.73 $3.98 $4.34 $3.74 6.61 $14.44 14.53

18.36

15.61 $17.74 16.97 306.13 Oct-00 267.44 243.22 209.87 S&P 400 Utilities

S&P 600 492.25 $3.12 $1.61 $0.25

$2.04 $3.00 $3.29 $4.07 $3.62 $4.10 $4.61

$3.38 $4.73 $3.72 4.58 -$6.33

$2.26

476.57 Feb-01

332.63 268.73 S&P 600

S&P 600 Consumer Discretionary 311.51

-$5.08

$1.80 $1.38

$2.01 $2.96

$2.42 $2.68 $3.45 $2.50 $3.21 $3.01 4.53

$1.38

$11.04

303.55 Sep-00 254.46 188.55 125.12 S&P 600 Consumer Discretionary

S&P 600 Consumer Staples 872.95

$1.69

$3.00 $3.17 $6.25 $5.09

$3.41 $6.20 $6.46 $5.79

$9.05 $9.33

$9.21 11.10

$5.63 100.71

855.92 Jan-02 708.94 566.97 411.19 S&P 600 Consumer Staples

S&P 600 Energy 1251.97

$2.26

$11.55

$6.40

$1.90 3.97

1213.24 Apr-03 1189.83 824.31 509.00 S&P 600 Energy

S&P 600 Financials 577.61 $1.87 $0.26

$0.53 $1.49

$2.30

$3.35 $3.18 $4.63 $5.27

$5.17 6.94

$6.05 81.73

559.32 May-01 494.86 417.94 455.79 S&P 600 Financials

S&P 600 Health Care 865.82 $4.39 $3.57 $5.03 $2.65 $3.03

$5.87 $5.75 $5.60

$5.73

$5.35 $6.25

$2.98 $6.92

7.55

828.04 Jan-02 645.65 528.23 432.22 S&P 600 Health Care

S&P 600 Industrials 548.86 $5.71 $7.73

$3.25 $3.76 $2.43 $2.41 $4.00 $4.62 $3.88 $5.62

$6.24 $4.84 $6.19

2.95

21.14 $9.02

31.45

18.86 529.85 Mar-01 468.88 372.57 323.26 S&P 600 Industrials

S&P 600 Information Technology 276.9 $1.18

$0.28

$0.99 $1.53 $1.82 $2.26 $3.21 $3.08 $2.27 $2.78 $1.86 $0.82

$1.54 1.87

268.88 Aug-00 251.93 202.58 137.09 S&P 600 Information Technology

S&P 600 Materials 342.18 -$0.50

$0.97

$1.91 $4.89 $2.91 $2.53 $4.04 $2.73 $3.63

$4.74 $3.05 $0.01 $2.92

3.08

$3.94

$10.19 25.66 324.22 Sep-00 287.69 245.57 167.89 S&P 600 Materials

S&P 600 Telecommunication Services 2.36

-$0.02 $0.03 $0.01 $0.03 $0.04 $0.05 $0.05

$0.03 $0.04

$0.03 $0.03 0.03

2.73

16.70 $0.09

2.42 Jan-00 2.79 2.73 4.87 S&P 600 Telecommunication Services

S&P 600 Utilities 491.26 $10.19

$3.67

$10.12 $2.29

$8.21

$4.29 $3.10

$3.12 3.59

15.56

15.93

16.50

485.39 May-01 435.24 382.95 376.26 S&P 600 Utilities

S&P Composite 1500 340.53 $3.47 $2.84 $2.15

$1.40 $2.92 $3.24 $3.36 $3.86 $4.33 $4.37 $4.56 $4.73 $4.96 $4.97 $4.57 $5.11 $4.82 4.77 $2.95

$10.92

16.99

329.78 Oct-00

254.79 204.93 S&P Composite 1500

S&P Composite 1500 Consumer Discretionary 366.33

$0.44 $2.54 $2.85 $3.49

$3.94 $3.69 $4.05 $3.94 $4.51 $4.34 $7.26 $4.39 $4.40 5.18

$9.32

14.56 355.82 Oct-00

221.96 157.30 S&P Composite 1500 Consumer Discretionary

S&P Composite 1500 Consumer Staples 386.88 $3.79 $3.60 $4.50 $2.61

$4.41 $4.57

$4.10 $4.79 $4.66

$4.88 $5.26 $5.04 $4.48 $4.82 $5.36 5.43

$19.69

17.80 377.01 Dec-00

283.70 253.99 S&P Composite 1500 Consumer Staples

S&P Composite 1500 Energy 580.84 $12.47

$4.25 $6.13 $6.24 $8.64 $10.04

$13.25 9.88

563.64 Jul-01

454.73 399.12 S&P Composite 1500 Energy

S&P Composite 1500 Financials 256.28

-$0.23 $2.00

$3.49 $3.47 $2.54 $3.56 $3.63 $2.69 $4.37 $3.85 $4.16 $4.30 4.01

$2.83

$13.07

13.58 245.32 Jul-00

211.96 188.00 S&P Composite 1500 Financials

S&P Composite 1500 Health Care 497.78 $5.35 $5.55 $4.96 $2.36 $4.89 $5.84 $6.42 $6.61 $5.23 $5.93 $5.38

$6.28 $6.93 $6.13

$5.53 6.65

16.82

15.26 $21.67

16.65 475.27 Feb-01

362.62 306.44 S&P Composite 1500 Health Care

S&P Composite 1500 Industrials 360.34 $4.90 $5.60 $4.93

$3.29 $4.54 $4.66 $4.57

$5.48 $5.12

$6.11 5.20

15.09 348.35 Nov-00

252.97 213.73 S&P Composite 1500 Industrials

S&P Composite 1500 Information Technology 489.57 $4.14 $4.53 $3.72

$1.11 $2.85 $4.19 $6.17 $5.36 $5.66 $6.71 $7.82 $6.94 $7.32 $6.21 $8.07 $7.56 $4.52 5.91 $10.44

14.82 478.87 Feb-01

380.15 238.53 S&P Composite 1500 Information Technology

S&P Composite 1500 Materials 262.27 $4.06 $4.38 $3.15

$1.44 $2.62 $1.65 $2.63 $3.49 $4.07 $2.93 $4.59 $4.99 $3.56

$3.85 $3.88 2.21 $1.30

$6.33 32.22 $13.12

15.41 252.11 Aug-00

203.97 139.32 S&P Composite 1500 Materials

S&P Composite 1500 Telecommunication Services 147.73 $1.89 $2.21 $1.93 $0.90 $1.78 $1.79 $1.60 $0.66

$1.42 $4.24 $1.10 $1.78 $1.71 $1.79

$1.73 $1.72

$6.93

$5.83 19.59 $7.69

$1.92

144.98 May-00

114.23 111.41 S&P Composite 1500 Telecommunication Services

S&P Composite 1500 Utilities 202.67 $3.71 $2.73 $3.97 $1.93 $2.65 $2.49 $3.63

$3.53 $2.91 $3.44 $2.33 $3.28 $3.25 $4.03 $1.84 $2.73 $2.68 3.14 $12.34

16.52 200.04 Jul-00

174.50 162.06 S&P Composite 1500 Utilities

S&P Dow Jones Indices
Historical actuals:	9/30/12	and prior
Estimates:	and forward
			IN	DE	X		2008 Q1		2008 Q2		2008 Q3		2008 Q4		2009 Q1		2009 Q2		2009 Q3		2009 Q4		2010 Q1		2010 Q2		2010 Q3		2010 Q4		2011 Q1		2011 Q2		2011 Q3		2011 Q4		2012 Q1		2012 Q2		2012 Q3		2012 Q4		2013 Q1		2013 Q2		2013 Q3		2013 Q4		2008 EPS		2008 P/E		2009 EPS		2009 P/E		2010 EPS		2010 P/E		2011 EPS		2011 P/E		2012 EPS		2012 P/E		2013 EPS		2013 P/E	PRICE 12/12	PRICE 12/11		PRICE 12/10		PRICE 12/09		PRICE 12/08
	Operating Earnings Per Share by Economic Sector				Price
$16.62	-$0.09		Jun-03	1115.10
			S&P 500 Consumer Discretionary		387.07				$2.61			$1.68												$1.36	–																	$0.37																								$0.38		$2.77							$3.49						$4.32						$4.09					$4.43		$5.05			$4.67		$5.38		$5.18				$5.58			$4.91	$5.30						$5.73				$6.24					$6.46						$7.09			$5.28	32.08	21.45	$18.20	$20.81	14.83	$22.18	16.96	$25.25	376.06			Nov-00	295.54	235.07	169.41
			S&P 500 Consumer Staples		370.24				$4.04				$4.27							$4.66				$4.20				$3.90				$4.62				$4.88					$4.96				$4.37			$4.81				$	5.26	$4.92				$5.39				$5.51	$5.56				$5.06			$5.77				$6.26	$	17.17		14.37	$18.36	14.94	$19.45			15.61	$21.38	$22.03	16.38	$24.11		360.78		303.58		274.30		246.66
			S&P 500 Energy		549.24	$12.22	$13.54	$20.73			$4.44																			$0.44							$4.57				$5.93		$6.32	$8.42		$9.29	$8.39			$9.10	$10.81			$12.98	$	14.11			$10.04		$11.52	$1	2.21	$	11.35		$12.09	$12.44	$	12.35	$50.93	$17.26	24.91	$35.21	14.39		$47.94	10.86	$45.14	$48.23		532.96		Jun-01		506.75		429.95		386.35
			S&P 500 Financials		231.44	–																				$0.80	–				$1.05	–			$5.46	–	$13.93																					$0.50															$1.01							$1.35			$1.54				$3.66					$3.81					$3.92		$3.43			$3.75			$3.95			$4.48				$4.05		$3.93		$4.38				$4.71	-$21.24	-7.95	$		14.82		14.49	$16.23	10.79	$16.63	13.31	$19.47	221.24						Jun-00		214.77	193.78	168.79
			S&P 500 Health Care		484.58				$6.19		$6.34		$6.28							$5.66		$6.61	$6.60	$6.27				$7.08				$7.23		$7.44		$7.15			$7.70			$8.27	$7.40		$8.02		$7.93		$8.09			$9.32	$9.08	$24.47	12.64	$	26.40	13.72	$28.90	$31.08	12.93	$32.39	$36.46		46	2.95												Feb-01		364.78		362.22		309.41
			S&P 500 Industrials		339.95			$	3.08						$3.24				$4.15			$3.71					$4.61	$5.24							$4.56			$5.44	$5.42				$6.17		$5.75	$5.57			$5.65	$6.45		$6.65	$21.18	$14.22	$18.41		$20.96	13.95	$22.98	14.31	$25.21		328.75								Oct-00		301.12		242.99		207.21
			S&P 500 Information Technology		473.62			$4.39	$			2.73		$2.90		$3.62									$4.52	$6.44	$6.70		$7.90		$7.18		$7.69		$7.32		$8.14			$6.90		$9.59		$9.12		$9.40			$9.47	$11.48	$16.12		$17.48	$26.25		15.41	$31.44	$32.91	14.10	$39.47		463.82		404.55		370.71		231.81
			S&P 500 Materials		246.88				$4.49	-$4.56					$1.04				$1.67						$2.27				$2.11						$3.20				$3.47				$3.25			$3.42						$	1.87		$4.23				$4.46				$3.19		$2.97			$4.75				$4.06	28.18	$13.33			17.97	$1	6.20		$14.84	16.01	$	18.08		237.62						Jul-00		239.61		199.81		137.59
			S&P 500 Telecommunication Services		148.81				$2.25								$1.98		$1.87						$1.95						$1.88			$1.77			$1.62					$1.91				$1.84						$1.63						$1.78										$1.21						$1.90						$2.29							$2.09							$1.39				$2.06		$		2.36			$2.51		$8.21	13.61			$7.22	$7.36	17.50	$6.85	18.95		$7.67	19.05	$8.91	16.71		146.04				May-00		128.74		114.64		111.70
			S&P 500 Utilities		179.89		$2.67					$4.01			$2.37					$2.89	$2.52						$2.28				$3.41			$2.66			$4.11				$2.16			$3.15			$2.87				$4.13			$2.32			$2.98						$2.68		$		2.42	$3.08				$2.71			$4.10		$2.59	$12.25	12.08	$11.50		$12.34				$12.47	14.67		177.66		159.34		157.99		147.93
			S&P 400		1058.01		$10.12	$10.71		$10.01	–													$0.79					$2.45			$8.50		$9.22	$10.93	$11.82	$10.65		$13.07	$13.23	$13.36	$12.84		$13.74	$14.13	$14.72	$16.37	$17.37	$17.60	$30.05	$27.59	26.34	$43.92	20.66	$50.31	$55.12		18.51	$66.06	10	20.43		May-02		907.25		726.67		538.28
			S&P 400 Consumer Discretionary		458.89				$2.46										$0.34																			$0.61					$2.00		$2.57				$3.29				$4.28						$3.85					$5.35			$4.41			$7.01	$5.10				$5.88		$8.06					$6.03		$6.77			$6.39	28.11	$	12.14	22.69	$	18.02	20.02	$19.73		$29.06		443.95				Dec-00	360.79		275.43		179.63
			S&P 400 Consumer Staples		886			$6.21	$8.51			$6.83			$7.19	$8.31	$10.23	$7.59	$10.41	$	11.83		$11.55	$11.24	$11.37	$10.97	$11.78	$14.07	$14.02		$	13.40	$14.40	$15.88	$28.68	$31.18	$39.30		15.77	$46.09	$50.75	$57.70		862.71						Jan-02		6	19.59		495.72		417.56
			S&P 400 Energy		715.81		$13.38	$30.21	-$40.02	–	$20.59			$4.36			$6.91					$4.12	$10.60	$7.92	$8.12	$4.70		$12.87	$	17.83	$10.90		$11.70	$12.01	$12.76	$12.72	$	16.97	-$5.20	-116.31		$31.34	25.11	$46.71	$36.07	19.28		695.36		Dec-01		786.99		604.81		361.64
			S&P 400 Financials		534.17																							$0.51	-$2.58					$3.79		$2.96					$3.55				$3.40				$4.59			$4.95	$6.00				$6.20		$4.47	$6.76		$5.26			$6.73	$7.06		$7.66				$6.10	64.11	32.84	$18.94	25.85	$20.37	22.11	$25.50		20.16	$28.53	5	14.14				Mar-01		489.73		422.69		391.04
			S&P 400 Health Care		653.82		$6.43		$4.55											$0.92				$4.51			$5.80	$8.16		$	7.55	$7.53		$9.93	$9.72	$9.91		$19.48	15.13	$15.76	25.18	$	20.63	23.58	19.74		618.7						May-01		486.42		396.85		294.70
			S&P 400 Industrials			499			$5.03			$6.18			$6.29				$2.56			$3.97				$4.29					$4.14				$5.87			$	6.16			$5.55	$5.37		$6.88	$7.37	$8.19		$8.70		$7.33		$7.45		$9.43	$9.76	$21.40	20.79	$21.73	1	8.83	$27.17	$31.06	$35.62	14.03		482.54		409.05		3	15.56		242.88
			S&P 400 Information Technology		1157.62	$9.31	$10.54		$8.89	–			$2.08						$1.61		$6.84		$10.75	$9.70		$12.08		$13.69	$	16.57	$14.66	$12.18	$10.15	$13.95	$11.25	$15.60	$14.86	$17.08	$17.97	$20.35	$26.66	19.81	$25.85	32.32	$52.03	$53.98	18.06	21.96	$70.25		1119.05		Aug-02		1105.38	8	35.38		528.08
			S&P 400 Materials		303.82							$0.99			$1.29	$2.36				$4.65				$4.07			$3.11				$3.34				$4.53		$	3.59				$3.76		$5.79	$5.76	$15.17		20.91	$14.19	17.28	$	15.80			15.39	$	16.70	17.46	$21.37		291.69						Aug-00		245.23		194.89		128.06
			S&P 400 Telecommunication Services		195.48				$3.48		$4.03					$4.34		$3.16			$2.35						$1.38						$2.03			$	1.49						$1.51					$2.69		$2.49													$0.54						$1.86		$1.49												$0.85														$1.06	$16.22	$10.09	$12.23	14.99	22.72	29.85			$6.71		187.72		183.36		161.65		143.16
			S&P 400 Utilities		311.72			$2.48						$4.74				$4.45		$2.75					$3.36				$2.41				$3.58					$3.05				$3.45				$3.86	$4.02			$3.77			$3.88	$15.35	13.67	$15.57		$17.74	$17.22	$19.49	15.70	$20.21		306.13		267.44		243.22		209.87
			S&P 600		492.25	$3.70		$3.51	–							$1.27																				$0.68			$1.83						$2.26					$2.85	$4.86		$7.39			$7.76		$7.98		$10.22		$7.62	43.65	$17.00	24.46	$22.57	21.11	$29.83		476.57	4	15.73		332.63		268.73
			S&P 600 Consumer Discretionary		311.51							$1.42													$0.53	–											$0.90														$0.48													$0.57		$2.42				$1.70			$2.33				$3.23			$3.17			$3.89			$	3.14				$3.35					$3.53			$4.90	59.30		$5.17	36.47		$10.19	18.81	$14.96	20.29	$19.86		303.55				Sep-00		254.46		188.55		125.12
			S&P 600 Consumer Staples		872.95	$8.11			$5.98		$5.04	$7.47		$9.05		$3.80	$10.07			$8.07		$	6.94	$10.38	$9.46	$9.88	$	12.39	$1	2.04	$10.66	$	11.07	$13.35		$13.89	$23.24		17.69	$28.07	20.20	$34.77	20.39	$36.66	20.78	$47.01	18.21		855.92		708.94		566.97		411.19
			S&P 600 Energy		1251.97	$16.13	$21.06	$33.26	-$35.78	-$4.28	$6.89	$6.14	-$1.67	$11.49	$11.79	$	16.21	$21.51	$16.78		$8.98	$12.30		$2.78			$13.12	$14.23	$16.31	$18.90	$	21.14		$34.67	14.68	116.43	$46.51	25.58	$61.15	19.90	$30.64	39.60	$70.58		1213.24		Apr-03		1189.83		824.31		509.00
			S&P 600 Financials		577.61	–							$1.17	-$10.69	-$4.43	–									$1.31	–		$5.89																		$0.56		$1.55		$2.20					$3.72							$2.24	$4.72	$6.54		$6.50			$7.35	$7.54		$8.20		$8.46	-$6.15	-74.11	-$11.07	-37.75	$9.71	50.98	25.17		$27.48	$33.18		559.32		494.86		417.94		455.79
			S&P 600 Health Care		865.82				$5.96	$5.15		$5.85			$7.05		$6.52		$9.44	$7.89	$8.54	$9.64	$11.36		$8.38		$9.09	$11.60	$10.62	$12.06		$12.53	$13.85	$21.75	19.87	$24.93	21.19	$31.70	20.36	$37.43	$39.11	21.17	$49.07		828.04		645.65		528.23		4	32.22
			S&P 600 Industrials		548.86	$7.61							$4.00				$2.86	$6.16	$6.94		$6.68			$7.56		$7.97				$9.33		$9.21		$8.79	$26.10	$	16.46	$20.97	22.36	$26.17	16.86	$29.49	$35.30		529.85		468.88		372.57		323.26
			S&P 600 Information Technology		276.9						$1.93	–											$0.76	–												$0.65						$1.47		$		2.79	$3.27			$3.52		$2.60				$3.01								$2.50		$2.31	$3.39	30.94	$2.79	72.61		$11.66		$10.39	23.20	28.03	$16.92		268.88		251.93		202.58		137.09
			S&P 600 Materials		342.18		–									$0.23					$4.26	–			$3.57						$0.01			$3.18		$3.67			$4.97			$4.18				$2.91		$3.61		$5.64			$4.25			$5.69	32.10	$9.82	25.01	$12.94	22.23	$15.73		$16.36	19.82		324.22		287.69		245.57		167.89
			S&P 600 Telecommunication Services							$0.07																						$0.49																$0.12	–															$0.22					-$0.01													$	0.03									$0.02		$0.03											$0.04																	$0.46	10.58														$0.11							$0.14					$0.15	$0.13	Jan-00
			S&P 600 Utilities		491.26	$10.21	$3.73		$8.26						$2.15	$8.92		$11.21		$3.26	$8.47	$12.27	$9.90	$9.96	$12.17	$24.45	$23.26	$27.65	15.74	$30.26		16.52	$28.85			16.82	$	31.45		485.39		435.24		382.95		376.26
			S&P Composite 1500		340.53	–											$0.08			$2.13				$4.82					$4.99			$5.63			$5.32				$5.41			$5.70		$5.92		$6.49		$11.12	18.43	$18.64	$21.50	$22.21	14.85	$25.47		13.37		329.78			254.79		204.93
			S&P Composite 1500 Consumer Discretionary		366.33										$1.12	–										$0.28																		$0.52				$4.21		$5.86	$4.87	32.30		$10.06	22.06	$	16.65	$19.08	15.30	$20.71	17.18	$23.81		355.82			221.96		157.30
			S&P Composite 1500 Consumer Staples		386.88			$4.30		$5.02		$5.19				$5.60			$5.71		$5.27	$6.01		$6.31		$6.75	$17.63	$18.89	15.02	$20.16	15.65	$22.96	16.42	$25.17		377.01			283.70		253.99
			S&P Composite 1500 Energy		580.84	$12.59	$14.04	$21.87			$2.30				-$0.50	$8.82	$9.60		$8.76	$9.30	$13.53	$14.81	$	12.45	$11.74	$	11.76	$	12.96	$12.89	$50.80	$16.77	27.12	$36.48	$49.85	$46.41	$50.16	11.58		563.64		Jul-01			454.73		399.12
			S&P Composite 1500 Financials		256.28	–																							$0.39	–														$0.78			-$5.08	-$13.36													$1.11		$3.64					$3.78		$4.17	-$19.61	-9.59	47.00	$	15.09	$16.69	$17.46	$20.39	12.57		245.32			211.96		188.00
			S&P Composite 1500 Health Care		497.78	$6.23	$6.67	$6.12	$6.99	$7.00	$7.43		$7.71	$7.46	$7.95		$8.18	$9.23		$9.35		$9.17	$23.65	$25.23	$27.92	$30.68	$32.24	$36.64		13.58		475.27			362.62		306.44
			S&P Composite 1500 Industrials		360.34	$6.04	$5.59		$3.38				$3.69	$6.79	10.05	$14.30	$18.69	16.87	14.15	$23.84	14.61	$26.41		348.35			252.97		213.73
			S&P Composite 1500 Information Technology		489.57			$4.64		$6.80			$7.73	$7.31	$8.08	$9.55	$9.57	$15.95	14.95		$17.09	$26.54	$31.32	14.71	$39.65		478.87			380.15		238.53
			S&P Composite 1500 Materials		262.27			$4.31	-$3.66				$2.47							$3.12				$3.33	$5.31	26.59	$13.65	13.52	$15.39	16.39	$18.91	13.87		252.11			203.97		139.32
			S&P Composite 1500 Telecommunication Services		147.73	$2.12					$1.99		$1.76		$1.59								$1.89			$2.04					$1.82						$1.60			$1.94								$1.19							$1.37	13.49	18.97	$7.57		19.15	$8.78		144.98			114.23		111.41
			S&P Composite 1500 Utilities		202.67						$2.65		$2.74		$2.63	$2.76				$2.92			$2.93	$13.01	$12.42	$13.49	13.26	$13.62	15.05	$13.10	15.27	$13.91		200.04			174.50		162.06
	As Reported Earnings Per Share by Economic Sector
	$15.54		$13.51		$22.24		$22.63
–			$3.28	–												$1.18	-$11.28																													$0.45		$3.14	$4.76	-$13.71	-12.36	$10.49	$	16.67		17.73	$22.36
		$4.33	$3.99		$4.50	$5.16	$14.24	17.32	$16.55	$19.02	17.64
$19.70	-$9.76			–					$0.27	$9.74	$9.03	$10.72	$11.89	$9.65	$11.71	9.80	$35.15	10.99	$16.01	26.86	$35.54	14.26	$44.79	11.63
–												$0.81	–		$2.53	-$10.71	-$23.91	–													$0.25				$3.44				$2.40	$3.68	-$37.96	-4.45	74.24	$12.77	$14.08
			$2.62		$6.09			$7.11	$25.61	$22.46	$25.31
$4.94	$5.22	$2.88					$3.94		$3.32	$4.58	$	17.62	$12.55	19.36	$20.17
		$4.16	$3.82						$1.53		$2.99		$5.83	$6.58	$7.29	$8.60	$7.81	$12.82	$15.07	24.60	$25.56	15.83
		$2.95	-$11.16															$0.82				$2.83									$0.94	$3.83														$0.58	237.22	33.98	$12.75	18.79	$	14.55
			$1.80																		$0.67					$1.79									$1.71	-$3.43				$1.74	19.60	$7.72	69.85
$2.82				$1.69		$3.04		$2.84		$3.09		$2.07					$1.44	12.74	$12.36	12.78		$11.04	$11.15		16.41
	$6.42	-$17.92	-$1.98	$7.85	$11.90	$10.27	$11.26	12.41	1	15.26	$39.14	23.18	$42.44	20.72	1020.43
							$1.16	–			$2.73	-$5.56	$3.96				$3.98		$6.40		–	$6.33	-28.38	25.13	$15.77	22.88	$17.47
$9.20	$9.80	$11.18	$10.91	$11.86	$10.52	8.40	$26.43	18.45	$37.08	$34.99	21.49
$13.50	$12.95	$30.08	-$58.80	-$21.74	$10.40	$7.99		$7.77	$12.63	-$1.62	-$2.27	-159.31	-$8.29	-72.96	$32.62	24.13	$40.45	17.43
–											$0.24																			$0.40	-$5.68			$3.03				$3.21	$3.37	$5.94	$5.90	-$0.99	-394.99	$14.14	29.89	$18.55	$19.28	23.37	514.14
–													$0.97	-$7.01	$5.82		$4.24	24.40	63.90	$14.56	33.41	$24.58	19.92
-$3.00	–		$1.65	$2.80				$3.63	$5.67	$5.74	27.11	38.77	$		18.86	21.69	$20.91
$8.30		$6.08	-$52.81	-$4.23	$9.11		$14.44	$15.04	$13.99	$10.76		$1.72		$8.67	-$35.08	-15.05	$16.09	$43.03	25.69	$39.44	24.72	835.38
-$3.72										$1.00			$2.23			$2.01			$4.19	16.07	$8.52	$13.83	$12.90
$2.81	-$4.64	$3.31		$1.66	$1.81						$0.88																					$0.31	22.76	$9.85	$10.28	23.09
	$4.84		$2.43	$5.99	$2.44		$3.07			$5.09		$13.25	$17.13
-$11.31	–				$1.92																									$0.69											$1.45	$3.59	-42.45	147.18	$13.98	29.73	$15.68	26.47	415.73
												$0.86	-$3.30	-$15.62	–										$0.95			-$0.85							$2.21						$1.40	-$23.14	-5.41	136.63	$8.59	29.62	22.32
				$2.54	-$7.49	-$8.88		$5.91	$9.51	$11.41	–								$0.26	-1581.48	$21.86	32.43	$33.81	22.53
$15.83	$20.05	$32.11	-$70.70	-$9.48	$4.69	-$1.44		$8.93	$15.00	$11.84	$20.34	$15.72		$8.33	$10.95	-$2.71	-187.82	-$3.97	-207.64	$41.88	28.41	$56.23	21.64
-$6.49	-$16.74	-$6.92	-$1.54	–	$7.26												$0.83						$1.43	$5.95	-$21.10	-21.60	-$15.19	-27.51	$16.43	29.84
$5.78	$7.20	$8.32	-$5.45	$8.05	$15.64	27.64	$20.43	25.86	$26.84	24.05	$9.13	80.26
	$7.10	-$5.25	–																									$0.42		$6.69	$6.64	$15.29	41.30	$14.91	$23.39
											$0.32	-$6.23	–	$2.64		-$0.92									$1.14	-$4.45	-30.81		-$1.04	-194.79	$10.37	24.29	$7.74	31.16
												$0.66	-$17.01	-$5.77			$2.39	-$3.02	-$15.88	-10.57	62.33	$12.93	22.25
				$0.05														$0.20			–								$0.19	–																		$0.60					-$0.02								$0.06						-$0.05		-$0.54	-9.02								$0.00									$0.17	25.14
	$2.22	$8.10	$2.02	$9.61	$10.99		$3.10		$4.08	$12.20	$9.84	$11.56	$24.18	$24.04	$26.38	$29.43		16.99
-$5.51	69.47	23.33	$17.12	$19.23	15.08	290.89
		$1.73	-$2.67	-$1.53	-$10.30	$3.46	-$12.77	-12.32	23.82	$15.14	18.59	$20.04	281.44
		$3.56	$4.35			$6.13	$14.50	17.52	$16.89	16.80	16.03	$19.65	315.60
$13.61	$20.84	-$12.75	–											$1.30	$8.84	$9.28	$11.02	$13.05	$12.39	$9.98	$12.07	$34.17	11.68	$15.32	29.68	$36.80	14.69	$46.45	11.88	540.65
	-$0.48	-$2.36	-$10.08	-$22.96											$1.10						-$0.04	-$35.88	-5.24	74.90	18.12	$14.54	236.72
$5.13	$5.29	$6.95	$18.22	$23.76	17.27	$24.63	374.18
					$1.23			$1.96	$3.22	$2.94		$3.84		$4.68	$5.00	$5.49	$16.66	12.83	$11.96	21.15	$17.07	18.48	$20.28	315.41
-$1.95	22.85	$14.32	26.55	$25.55	16.54	$28.54	422.47
-$10.29														$0.62						$1.22	107.17	18.75	$14.36	246.06
											$0.93	-$3.35	1.85	16.08	16.68	67.02	128.24
$4.22	13.13	$12.99	13.43	$12.21	14.65	$12.41	178.90
Notes:
Actual As Reported Diluted earnings, sometimes called Generally Accepted Accounting Principal (GAAP) earnings, is income from continuing operations. It excludes both
discontinued and extraordinary income. Both of these terms are defined by Financial Standards Accounting Board (FASB) under GAAP. As Reported earnings represent the
longest monitored earnings series available today.
Actual Operating Basic earnings then excludes ‘unusual’ items from that value. Operating income is not defined under GAAP by FASB. This permits individual companies to
interpret what is and what is not ‘unusual’. The result is a varied interpretation of items and charges, where the same specific type of charge may be included in Operating earnings
for one company and omitted from another. S&P reviews all earnings to insure compatibility across company and industry groups.
The bottom-up earnings estimates are based on the Capital IQ consensus forecast.
The current As Reported reporting quarter consists of actually-reported earnings extrapolated if at least 70% of the market value has reported.
The current Operating reporting quarter consists of actually-reported earnings and Capital IQ consensus estimates.
Historical annual P/Es are based on the year-end price.
Estimated P/Es are based on the current price.

QUARTE
RL
Y DATA

S&P Dow Jones Indices

S&P 500 QUARTERLY DATA

OPERATING AS REPORTED

CASH

SALES

BOO

VAL QUARTER EARNINGS EARNINGS

DIVIDENDS

PER PER
END PER SHR PER SHR PER SHR SHARE SHARE PRICE

DIVI

R 12/31/12 $8.93

1,426.19 8934.61 9/28/12 $24.00

$21.21

$7.77

$268.99 $661.93 1,440.67 8940.96 6/29/12 $25.43 $21.62 $7.45

$268.03 $639.45 1,362.16 9032.07 3/30/12 $24.24 $23.03 $7.09

$267.33 $633.04 1,408.47 9038.37 12/30/11 $23.73 $20.64

$7.28 $272.64 $613.14 1,257.60 9052.93 09/30/2011 $25.29 $22.63 $6.50

$265.99 $613.18 1,131.42 9106.38 06/30/2011 $24.86 $22.24 $6.49

$263.31 $613.08 1,320.64 9102.53 03/31/2011

$22.56 $21.44 $6.16

$250.89 $594.05 1,325.83 9102.05 12/31/10

$21.93 $20.67 $6.03

$252.73 $579.14 1,257.64 9088.35 09/30/2010 $21.56 $19.52 $5.66

$240.84 $567.95 1,141.20 9057.38 06/30/2010 $20.90 $19.68 $5.58

$236.75 $541.60 1,030.71 9044.81 03/31/2010 $19.38 $17.48 $5.46

$232.38 $530.95 1,169.43 9030.03 12/31/09

$17.16 $15.18 $5.66

$236.02 $513.58 1,115.10 8902.83 09/30/2009 $15.78 $14.76 $5.35

$227.34 $498.43 1,057.08 8832.37 06/30/2009 $13.81 $13.51 $5.44

$223.24 $487.69

919.32

8750.83 03/30/2009

$10.11 $7.52 $5.96

$221.80 $449.43

797.87

8682.64 12/31/08

-$0.09 -$23.25 $7.15

$230.21 $451.37

903.25

8692.85 09/30/2008 $15.96 $9.73

$7.04 $268.00 $514.60 1,166.36 8729.25 06/30/2008 $17.02 $12.86 $7.10

$278.53 $530.70 1,280.00 8720.75 03/31/2008 $16.62 $15.54 $7.09

$265.72 $530.94 1,322.70 8702.39 12/31/07

$15.22 $7.82 $7.62

$268.16 $529.59 1,468.36 8763.44 09/30/2007 $20.87

$15.15

$6.90

$258.81 $524.00 1,526.75 8822.50 06/30/2007 $24.06 $21.88 $6.69

$255.63 $516.91 1,503.35 8879.99 03/31/2007 $22.39 $21.33 $6.52

$242.48 $508.99 1,420.86 8942.67 12/31/06

$21.99 $20.24 $6.87

$248.20 $504.39 1,418.30 8974.73 09/30/2006 $23.03 $21.47 $6.09

$239.80 $491.96 1,335.85 8997.93 06/30/2006 $21.95 $20.11

$6.02 $234.71 $474.91 1,270.20 9051.20 03/31/2006 $20.75 $19.69 $5.91

$229.80 $468.63 1,294.83 9004.80 12/31/05

$20.19 $17.30 $6.08

$232.52 $453.06 1,248.29 9015.96 09/30/2005 $18.84 $17.39

$5.43 $220.90 $441.77 1,228.81 9018.96 (full float adjusted) 06/30/2005 $19.42 $18.29 $5.36

$214.80 $436.90 1,191.33 9141.05 03/31/2005 $18.00

$16.85 $5.34 $206.10 $426.79 1,180.59 9164.75 (half float adjusted) 12/31/04 $17.95 $13.94 $5.33

$210.14 $414.75 1,211.92 9314.65 09/30/2004 $16.88 $14.18 $4.88

$197.06 $402.52 1,114.58 9328.90 06/30/2004 $16.98 $15.25 $4.66

$193.64 $386.23 1,140.84 9311.93 03/31/2004 $15.87 $15.18 $4.56

$187.33 $376.47 1,126.21 9288.96 12/31/03 $14.88 $13.16 $5.06

$178.85 $367.17 1,111.92 9250.51 09/30/2003 $14.41 $12.56 $4.32

$179.60 $351.89

995.97

9244.95 06/30/2003

$12.92 $11.10

$4.09

$181.15 $346.32

974.50

9236.54 03/31/2003 $12.48 $11.92 $3.92

$171.21 $328.72

848.18

9227.64 12/31/02

$11.94 $3.00 $4.26

$165.94 $321.72

879.82

9214.85 09/30/2002 $11.61 $8.53 $3.90

$166.12 $334.92

815.28

9221.83 06/30/2002 $11.64 $6.87 $4.15

$175.33 $329.52

989.81

9184.12 03/31/2002 $10.85 $9.19 $3.77

$167.20 $332.74 1,147.39 9152.85 12/31/2001

$9.94

$5.45 $3.98

$189.10 $338.37 1,148.08 9113.82 09/30/2001 $9.16 $5.23 $4.14

$178.68 $339.40 1,040.94 9065.58 06/30/2001 $9.02 $4.83 $3.84

$183.03 $345.87 1,224.38 9006.43 03/31/2001 $10.73 $9.18 $3.78

$186.07 $347.25 1,160.33 8949.76 12/31/2000 $13.11 $9.07 $3.98

$191.03 $325.80 1,320.28 8872.78 09/30/2000 $14.17 $13.71 $4.09

$188.10 $319.60 1,436.51 8770.40 06/30/2000 $14.88 $13.48 $4.12 $186.07

312

.94 1,454.60 8582.71 03/31/2000

$13.97

$13.74 $4.08

$180.50 $295.94 1,498.58 8465.46 12/31/1999 $13.77 $12.77 $4.05

$290.68 1,469.25 8381.82 09/30/1999 $12.97 $11.93 $4.45

1,282.71 8227.74 06/30/1999

$13.21

$12.51 $4.18

1,372.71 8182.00 03/31/1999 $11.73 $10.96 $4.01

1,286.37 8172.68 12/31/1998 $11.47 $8.56 $4.00

1,229.23 8088.29 09/30/1998 $10.45 $8.99 $4.26

1,017.01 7989.24 06/30/1998 $11.43 $9.87 $4.18

1,133.84 7898.50 03/31/1998 $10.92 $10.29 $3.76

1,101.75 7829.71 12/31/1997 $11.29 $8.94 $3.95 970.43

7784.88 09/30/1997 $11.03 $9.87 $4.06 947.28

7741.54 06/30/1997 $11.13 $10.44

$3.87

885.14

7673.57 03/31/1997 $10.56 $10.47 $3.61 757.12

7655.79 12/31/1996 $11.01 $9.86 $3.79 740.74

7594.79 09/30/1996 $9.92 $9.78 $3.89 687.33

7573.12 06/30/1996 $10.31 $10.13 $3.77 670.63

7550.72 03/31/1996 $9.39 $8.96 $3.45 645.50

7511.21 12/31/1995 $9.78 $7.13 $3.55

615.93 7449.38 09/30/1995 $9.78 $8.69

$3.50

584.41

7373.75 06/30/1995 $9.50 $9.26 $3.60 544.75

7340.26 03/31/1995 $8.64 $8.88 $3.14 500.71

7331.51 12/31/1994 $8.80 $8.35 $3.34 459.27

7285.82 09/30/1994 $8.03 $7.94 $3.29 462.71

7265.69 06/30/1994 $7.75 $7.38 $3.41 444.27

7211.87 03/31/1994 $7.17 $6.93 $3.14 445.77

7127.98 12/31/1993 $7.16 $5.08 $3.09 466.45

7086.53 09/30/1993 $6.92 $5.81 $3.20 458.93

7011.06 06/30/1993 $6.57 $4.89 $3.28 450.53

6974.55 03/31/1993 $6.25 $6.11 $3.01 451.67

6947.24 12/31/1992 $5.61 $3.60 $3.03 435.71

6918.99 09/30/1992 $5.12 $4.73 $3.20

417.80 6900.48 06/30/1992 $5.21 $5.40 $3.24 408.14

6867.07 03/31/1992 $4.93 $5.36 $2.91 403.69

6833.95 12/31/1991 $4.63 $2.55 $3.04 417.09

6770.28 09/30/1991 $5.11 $3.74

$3.13

387.86

6723.09 06/30/1991 $4.79 $4.54 $3.24 371.16

6685.13 03/31/1991 $4.77 $5.14 $2.79 375.22

6666.67 12/31/1990 $5.01 $4.40 $3.12 330.22

6647.01 09/30/1990 $5.97 $5.33 $3.00 306.05

6653.10 06/30/1990 $6.06 $6.07 $3.21 358.02

6656.02 03/31/1990 $5.61 $5.54 $2.77 339.94

6669.89 12/31/1989 $5.84 $4.80 $2.86 353.40

6697.81 09/30/1989 $5.54 $4.85 $2.83 349.15

6684.33 06/30/1989 $6.53 $6.48 $2.86 317.98

6723.45 03/31/1989 $6.41 $6.74 $2.50 294.87

6731.88 12/31/1988 $6.37 $5.62 $2.54 277.72

6829.56 09/30/1988 $6.22 $6.38 $2.46 271.91

6930.89 06/30/1988 $6.05 $6.22 $2.50 273.50

6956.73 03/31/1988 $5.48 $5.53 $2.24 258.89

6977.40

ISSUES

S&P Dow Jones Indices

SALES

OPERATING PRIOR AS REPORTED PRIOR SECTOR

$ MILLIONS

PER SHARE YEAR

$1.00 $1.06

$0.45 $0.48 $0.44

$0.08 -$0.02

$1.23

$1.18 $1.14

$4.79 $5.41 $4.68

$1.04 $0.96

$0.95

$0.37 $0.41

$0.12 $0.28 $0.12 $0.28

$0.57

$0.56 $0.44 $0.51 $0.41

$0.65 $0.50 $0.58 $0.52

$0.96 $0.80 $0.95

$0.31 $0.42 $0.26 $0.41

$0.96

$0.95

$0.69 $0.68 $0.69 $0.68

$1.39

$1.39 $1.57

$0.86 $0.69 $0.82 $0.67

$0.52

$0.51 $0.54

-$0.19 -$0.27 -$0.19

MON

$0.62 $0.24 $0.62 $0.23

$1.06 $1.37 $1.47 $1.40

$0.58 $0.51 $0.57 $0.50

$0.54 $0.44 $0.53

$0.41 $0.39 $0.41 $0.39

$0.18 $0.20 $0.18 $0.19

$0.49 $0.63 $0.43 $0.63

$1.14

$0.50 Health Care

$0.85 $0.90 $0.79 Information Technology

$0.26 -$0.85 $0.24

Energy

$0.60 $0.62 $0.58 $0.60 Information Technology

$0.73 $0.69 $0.62 $0.59 Financials

$3.36 $0.41 $2.50 Energy

-$0.07 -$0.26 Financials

APOL Apollo Group’A’

$0.52

$0.46 $1.37 Consumer Discretionary

$8.76 $7.13 $8.67 $7.05 Information Technology

$0.01 $0.20

$0.34 Information Technology

$0.44 $0.69 $0.28 $0.68 Consumer Staples

$1.63 $0.80

$0.79 Financials

$0.63 $0.61 $0.63 $0.61 Telecommunication Services

$0.29 $0.32 $0.13 $0.32 Information Technology

$0.63 $0.62 $0.62 $0.61 Information Technology

$0.67 $0.49 $0.66 $0.48 Consumer Discretionary

AZO AutoZone Inc

$7.35 $8.46 $7.18 Consumer Discretionary

$0.51

$0.51 Financials

$0.54 $0.49 $0.37

Industrials

$0.18 $0.39 $0.07 $0.38 Consumer Staples

$1.19 $0.60 $1.61 Energy

$0.92 $0.83

$0.80 Materials

$0.62 $0.53 $0.61 $0.53 Financials

$1.67 $1.65

Health Care

$1.10 $1.06 $1.01 Health Care

$0.52 $0.66 $0.52 Financials

$0.59 $0.54 $0.57

Consumer Staples

$1.45 $1.44 $1.35 $1.36 Health Care

BBBY Bed Bath & Beyond

$0.99 $0.94

$0.93 Consumer Discretionary

$0.60 $0.54 $0.45 $0.53 Materials

$1.58 $0.92 $1.58 $0.92 Financials

BBY

$0.03 $0.48 -$0.04 $0.47 Consumer Discretionary

$0.06

$0.06 Consumer Discretionary

$1.63 $1.46 $1.67 $1.43 Health Care

$3.69 $3.52

$3.23 Financials

$0.63 $0.66 $0.61 $0.65 Information Technology

$1.36 $1.60 $1.35 $1.46 Industrials

$1.30 $0.85 $1.15 Consumer Discretionary

$0.42 $0.48 $0.38 $0.48 Financials

$0.10 $0.12 -$0.48 $0.09 Health Care

$0.37 $0.59

$0.56 Health Care

$0.39 $0.56 $0.38 $0.48 Information Technology

$0.81 $0.73 $0.80 $0.73 Consumer Staples

$0.72 $0.70 $0.72 $0.70 Industrials

$0.48 $0.47 $0.48 $0.47 Information Technology

$0.11 $0.15 -$0.01 $0.14 Consumer Discretionary

$0.17 $0.15 $0.17 $0.14 Energy

$0.94 $0.76 $0.90 $0.67 Energy

$0.89 $0.83 $0.78 $0.82 Consumer Staples

$1.78 $2.03 $1.88 Financials

$0.78 $0.71 $0.79 $0.68 Health Care

KMX CarMax Inc

$0.49 $0.49 $0.48 $0.49 Consumer Discretionary

CCL Carnival Corp

$1.71 $1.71 $1.71 $1.69 Consumer Discretionary

$2.54 $1.71 Industrials

$0.24 $0.23 $0.12 $0.20 Financials

$0.67 $0.51 $0.60 $0.50 Consumer Discretionary

$1.06 $0.81 $0.97 $0.81 Health Care

$0.41 $0.38 $0.02 $0.90 Utilities

$0.38 $0.34 $0.43 $0.23 Telecommunication Services

$0.58 $0.47 $0.56 $0.45 Health Care

$6.31 $5.09

$4.73 Materials

$1.38

$1.23 Energy

$2.71 $3.94 $2.69 $3.92 Energy

$2.28 $1.93 $2.27 $1.90 Consumer Discretionary

$1.99 $1.04 $1.98 $1.04 Financials

$0.74 $1.61 $0.74 Health Care

$0.69 $0.12 $0.68 $0.12 Financials

CTAS Cintas Corp

$0.61 $0.52 $0.60 $0.52 Industrials

$0.40 $0.35 $0.39

Information Technology

$0.96 $1.27

$1.23 Financials

$0.39 $0.50 $0.41 $0.49 Information Technology

$0.62 $4.20 $0.61 $4.19 Materials

$1.02 $1.09 $1.01 $0.98 Consumer Staples

$0.71 $0.95 $0.66 $0.95 Financials

$0.56 $0.55 $0.55 $0.53 Utilities

$0.78 $0.74

$0.73 Consumer Discretionary

$0.52 $0.51 $0.50 $0.47 Consumer Staples

$0.93 $0.73 $0.89 $0.88 Consumer Staples

$0.93 $0.75 $0.91 $0.73 Information Technology

$1.39 $1.31 $1.36 $1.31 Consumer Staples

$0.67 $0.33 $0.78 $0.33 Consumer Discretionary

$0.69 $0.62 $0.61 $0.51 Financials

CSC

$1.08 $0.89 $0.83

Information Technology

CAG ConAgra Foods

$0.65 $0.24 $0.61 $0.20 Consumer Staples

$1.45 $2.74 $1.46 $1.91 Energy

$0.12 $0.80 -$0.05 $0.73 Energy

$1.50 $1.31 $1.49 $1.30 Utilities

STZ Constellation Brands’A’

$0.73 $0.78 $0.67 $0.76 Consumer Staples

$1.17 $0.99 $1.16 $0.98 Industrials

$0.35 $0.52 $0.35 $0.51 Information Technology

COST Costco Wholesale

$1.41 $1.09 $1.39 $1.08 Consumer Staples

$0.82 $0.85 $0.78

Health Care

$1.01 $1.06 $0.96 $0.93 Health Care

$0.15 $0.16 $0.14 $0.15 Telecommunication Services

$0.44 $0.43 $0.44 $0.43 Industrials

$1.84 $2.37 $1.86 $2.35 Industrials

$0.80 $0.65 $0.80 $0.65 Consumer Staples

$0.31 $0.11

$0.11 Consumer Discretionary

$0.79 $0.75 $0.77 $0.74 Industrials

DRI Darden Restaurants

$0.80 $0.85 $0.78 Consumer Discretionary

$1.52

$1.50 $1.45 Health Care

$0.33 $0.13 $0.20

Consumer Staples

$1.84 $1.63

$1.62 Industrials

$0.32 $0.51 $0.27 $0.49 Information Technology

$0.22 $0.69 $0.22 $0.68 Energy

$0.45 $0.35 $0.37 $0.42 Health Care

$2.50 -$1.80 $2.50 Energy

$0.50 $0.84 $0.49 $0.83 Consumer Discretionary

$1.85 $1.28 $1.85 Energy

ECTV

$0.91 $0.70 $0.90 $0.70 Consumer Discretionary

Discover Financial Svcs

$1.21 $1.18 $1.21 $1.18 Financials

$0.58 $0.60 $0.57 $0.59 Consumer Discretionary

DIS

$0.69 $0.60 $0.68 $0.58 Consumer Discretionary

$0.51 $0.43 $0.68 $0.43 Consumer Discretionary

$3,803.00 $0.37 $0.84 $0.37 $0.69 Utilities

$0.51 $0.52 $0.39 $0.83 Industrials

$1.35 $1.24 $1.32 $1.21 Industrials

$0.42 $0.70 $0.42 $0.69 Materials

$0.85 $0.71 $0.84 $0.71 Consumer Staples

$1.32 $1.08 $1.31 $1.07 Utilities

$1.44 $1.50 $0.84 $1.05 Utilities

$1.42 $1.76 $1.19 Industrials

$0.32 $0.66 -$0.05 $0.48 Materials

$0.02 $0.04 -$0.10 $0.24 Financials

$1.61 $1.22 $0.99 $1.16 Materials

$0.46 $0.35 $0.45 $0.37 Information Technology

$0.89 $0.77 $0.80 $0.65 Materials

$0.72 $1.31 $0.81 $1.30 Utilities

$0.60 $0.40 $0.58 $0.43 Health Care

-$1.21

Information Technology

$0.31 $0.30 $0.28 $0.27 Information Technology

$1.00 $0.39 $0.98 Industrials

O Plc Cl’A’

.60

$1.53 $0.93 $1.48 $0.88 Energy

$1.96 $3.55 $1.89 $3.53 Utilities

$2.03 $1.31 $2.01 Energy

$0.22 $0.45 $0.21 $1.19 Energy

$0.65 $0.55

$0.54 Industrials

$0.41 $0.11 $0.39 $0.10 Financials

$0.39 $0.90 $0.35 $0.90 Utilities

$1.50 Consumer Discretionary

$0.42 $0.50 $0.42 $0.50 Industrials

$0.64 $0.75 $0.47 $0.66 Health Care

$2.09 $2.13 $2.09 $2.13 Energy

$0.86 $0.84 $0.85 $0.84 Information Technology

Family Dollar Stores

$0.76 $0.67 $0.69 $0.66 Consumer Discretionary

$0.37 $0.33 $0.37 $0.33 Industrials

$0.43 $0.37 $0.54 $0.37 Financials

FDX FedEx Corp

$1.46 $1.46 $1.45 $1.46 Industrials

$0.51 $0.50 $0.50 $0.47 Information Technology

$0.41 $0.41 $0.38 $0.40 Financials

$0.13 $0.12 $0.10 $0.12 Financials

$1.28 $2.28 $1.00 $2.25 Information Technology

$1.11 $1.33 $1.01 $1.22 Utilities

$1.07 $1.06 $1.03 $0.89 Information Technology

$0.37 $0.41 $0.37 $0.40 Information Technology

$2.09 $1.95 $2.07 $1.92 Industrials

$0.87 $0.79 $0.86 $0.78 Industrials

$0.75 $0.71 $0.70 $0.65 Materials

$0.44 $0.50 $0.41 $0.50 Energy

$0.41 $0.49 $0.41 $0.41 Consumer Discretionary

$0.08 $0.91 $0.08 $0.91 Health Care

$1.29 $1.12 $1.26 $1.09 Consumer Discretionary

$2.32 $1.89 $2.31 $1.88 Financials

$0.87 $1.14 $0.86 $1.10 Materials

$0.08 $0.05 $0.07 $0.02 Telecommunication Services

$0.38 $0.39 -$5.08 $0.39 Consumer Discretionary

$0.56 $0.43 $0.56 $0.41 Consumer Discretionary

$0.64 $0.38 $0.63 $0.38 Consumer Discretionary

$1.71 $1.87 $1.70 $1.83 Industrials

$0.34 $0.22 $0.33 $0.22 Industrials

GIS Genl Mills

$0.75 $0.63 $0.82 $0.61 Consumer Staples

$1.11 $0.97 $1.11 $0.97 Consumer Discretionary

$0.25 $0.06 $0.07 $0.06 Financials

$0.97 $0.97 $0.85 $0.95 Health Care

$3.07

$2.85 -$0.84 Financials

$0.62 $0.80 $0.41 $0.60 Consumer Discretionary

$7.23

$6.53 $8.33 Information Technology

$2.56 $2.15 $2.51 Industrials

-$0.37 -$0.41 Consumer Discretionary

$0.67 $0.94 $0.65 $0.92 Energy

$0.62 $0.84 $0.59 $0.78 Consumer Discretionary

HAR

$0.80 $0.70 $0.79 $0.67 Consumer Discretionary

$1.15 $1.07 $1.14 $1.01 Information Technology

$0.98 -$0.10 $0.83

Financials

$1.26 $1.30 $1.24 $1.27 Consumer Discretionary

$0.45 $0.41 $0.45 $0.41 Financials

$0.11 $0.21 $0.11 $0.21 Financials

$0.91 $0.82 $0.90 $0.73 Consumer Staples

$1.41 $1.13 $1.39 $1.11 Energy

$0.89 $0.86 $0.77 $0.86 Consumer Staples

$1.98 $0.97

$0.88 Energy

$1.21 $0.80

$0.12 Information Technology

$0.68 $0.61 $0.63 $0.60 Consumer Discretionary

$1.30 $1.22 $1.20 $0.87 Industrials

$0.50 $0.44 $0.49 $0.43 Consumer Staples

$0.40 $0.59 $0.01 -$0.54 Health Care

-$0.03 -$0.04 -$0.05 -$0.05 Financials

$0.12 $0.17 $0.11 $0.17 Financials

$2.65 $2.71 $2.62 $2.67 Health Care

$0.19 $0.16 $0.19 $0.16 Financials

$1.13 $1.01 $1.12 $1.00 Industrials

$1.00 $0.87 $1.07 $0.28 Industrials

$0.94 $0.47 $0.93 $0.47 Utilities

$0.59 $0.67 $0.58 $0.65 Information Technology

ICE

$1.82 $1.89 $1.79 $1.80 Financials

$0.16 $0.45 $0.15 $0.40 Consumer Discretionary

$3.23 $3.34 $3.33 $3.19 Information Technology

$1.09 $1.01 $0.20 $1.00 Materials

$0.35 $0.25 $0.33 $0.20 Consumer Discretionary

$0.76 $0.43 $0.51 $1.19 Materials

-$0.17 -$0.21 Information Technology

$537.80

$4.59 $3.13 $4.46 $3.05 Health Care

$0.39 $0.37 $0.38 $0.36 Financials

$0.39 $0.35 $0.31 $0.17 Industrials

JBL Jabil Circuit

$0.40 $0.54 $0.39 $0.52 Information Technology

$0.84 $0.82 $0.83 $0.74 Industrials

-$0.03 $0.01 -$0.04 -$0.03 Information Technology

$1.27 $1.12 $1.05 $1.15 Health Care

$0.37 $0.76 -$0.01 $0.78 Consumer Discretionary

$2.16 $1.90 $1.99 $1.83 Industrials

$1.41 $1.02 $1.40 $1.02 Financials

$0.14 $0.18 $0.03 $0.16 Information Technology

$0.88 $0.83 $0.82 $0.80 Consumer Staples

$0.23 $0.24 $0.23 $0.24 Financials

$1.27 $1.30 $1.09 Consumer Staples

$0.04 $0.08 $0.04 $0.08 Financials

$2,206.00 $0.36 $0.37 $0.31 $0.21 Energy

$0.83 $1.16 $0.80 $1.13 Information Technology

$0.92 $0.80 $0.91 $0.80 Consumer Discretionary

$0.46 $0.33 $0.60 $0.33 Consumer Staples

$3,283.00

$2.06 $2.27 $1.98 $2.24 Industrials

$1.66 $1.50 $1.53 $1.31 Health Care

$0.08 $0.59 $0.02 $0.58 Information Technology

$0.80 $0.72 $0.76 $0.70 Consumer Staples

$0.47 $0.34 $0.60 $0.39 Financials

$0.47 $0.31 $0.45 $0.31 Consumer Discretionary

$0.33 $0.11 $0.40 $0.11 Consumer Discretionary

$0.45

$0.44 -$1.19 Financials

$1,035.00 $0.95 $0.96 $0.00 $0.86 Information Technology

$0.46 $0.67 $0.37 $0.52 Health Care

$0.79 $1.13 $1.18 $1.11 Health Care

$0.26 $0.26 $0.25 $0.31 Consumer Discretionary

$1.35 $0.50 $1.31 $0.47 Financials

$0.45 $0.47 $0.45 $0.47 Information Technology

$2.29 $2.09 $2.21 $1.99 Industrials

$3,438.00 $0.45 $0.41 $0.45 $0.40 Financials

$1.94 $2.16 $1.94 Consumer Staples

$0.35 $0.18 $0.35 $0.18 Consumer Discretionary

$0.08 $0.07 $0.07 $0.05 Information Technology

$1.45 $1.60 $1.47 $1.51 Materials

$2.18 $1.45

$1.32 Financials

$0.36 $0.33 $0.36 $0.32 Consumer Discretionary

$0.67 $0.58 $0.63 $0.57 Energy

$3.33 $3.18 $3.59 $3.16 Energy

$0.39 $0.29 $0.44

Consumer Discretionary

$0.42 $0.34 $0.43 $0.23 Financials

$0.11 $0.12 $0.06 $0.10 Industrials

$6.19 $5.66 $6.17 $5.63 Information Technology

MAT

$1.07 $0.85 $1.04 $0.86 Consumer Discretionary

$0.79 $0.70 $0.78 $0.69 Consumer Staples

$1.45 $1.47 $1.43 $1.45 Consumer Discretionary

$1.35 $1.23 $1.10 $1.21 Consumer Discretionary

$1.77 $1.54 $1.67 $1.18 Health Care

$0.72 $0.79 $0.69 $0.70 Consumer Staples

$0.40 $0.71 $0.38 $0.67 Materials

$0.87 $0.81 $0.63 $0.82 Health Care

$0.63 $0.59 $0.56 $0.55 Health Care

MET

$0.67 $3.40 -$0.92 $3.33 Financials

$0.38 $0.19 $0.52 $0.19 Telecommunication Services

$0.10 $0.42

$0.40 Information Technology

MU Micron Technology

$2,140.00

-$0.24

Information Technology

$0.53 $0.68 $0.53 $0.68 Information Technology

$0.38 $0.47 $0.40 $0.46 Information Technology

$1.30 $1.06 $1.09 $1.05 Consumer Staples

MON Monsanto Co

-$0.42 -$0.21 Materials

$0.49 $0.47 $0.47 $0.44 Consumer Staples

$0.77 $0.58 $0.81 $0.57 Financials

-$0.44 $1.17

$1.14 Financials

MOS Mosaic Co

$1.02 $1.18 $1.01 $1.17 Materials

$0.76 $0.47 $0.73 $0.45 Information Technology

$1.18 $1.74 $1.17 $1.73 Energy

$0.68 $0.42 $0.51 $0.36 Health Care

$0.22 $0.44 $0.22 $0.28 Energy

$0.63 $0.68 $0.52 $0.61 Financials

$1.53 $1.27 $1.43

Energy

$1,507.00 $0.30 $0.46 $0.30 $0.44 Information Technology

$0.14 $1.19 $0.13 $1.16 Consumer Discretionary

$0.47 $0.55 $0.36

Consumer Discretionary

$2.00 -$0.24 $1.99 Energy

$0.85 $1.00 $0.81 $0.98 Materials

$0.61 $0.30 $0.94 $0.28 Consumer Discretionary

$0.98 $1.21 $0.98 $0.97 Utilities

NKE NIKE, Inc’B’

$0.63 $0.69 $0.61 $0.68 Consumer Discretionary

$0.06 $0.13 $0.06 $0.13 Utilities

$0.45 $0.53 $0.45 $0.53 Energy

$0.92 $2.68 $0.91 $2.39 Energy

$0.73 $0.59 $0.71 $0.59 Consumer Discretionary

NSC

$1.26 $1.61 $1.24 $1.59 Industrials

$0.70 $0.52 $0.66 $0.51 Utilities

$0.75 $0.71 $0.73 $0.70 Financials

$1.86 $1.89 $1.82 $1.86 Industrials

$0.23 $0.29 -$0.01 -$0.24 Utilities

$0.45 $0.57 $0.35 $0.57 Materials

$0.34 $0.30 $0.33 $0.29 Information Technology

$0.44 $0.87 $0.44 $0.76 Financials

$1.34 $1.12 $1.32 $1.10 Consumer Discretionary

$1.70 $2.18 $1.70 $2.18 Energy

$0.75 $0.73 $0.74 $0.72 Consumer Discretionary

$0.32 $0.29 $0.31 $0.28 Utilities

ORCL Oracle Corp

$0.40 $0.38 $0.41 $0.36 Information Technology

$0.70 $0.85 $0.55 $0.72 Materials

$0.66 $0.78 $0.66 $0.77 Industrials

$0.69 $0.75 $0.77 $0.59 Industrials

$1.62 $1.97 $1.57 $1.91 Industrials

$0.44 $0.43 $0.44 $0.43 Health Care

PAYX Paychex Inc

$0.42 $0.41 $0.42 $0.41 Information Technology

$0.46 $1.09 $0.46 $1.01 Energy

-$1.04 $0.11

Consumer Discretionary

$0.18 $0.19 $0.18 $0.15 Financials

$0.45 $0.35 $0.49 $0.35 Utilities

$1.26 $1.30 $1.21 $1.25 Consumer Staples

$0.33 $0.31 $0.25 $0.24 Health Care

$1.14 $0.99 $1.12 $0.75 Health Care

$0.42 $0.46 $0.41 $0.31 Health Care

&E Corp

$0.93 $1.08 $0.84 $0.50 Utilities

$1.38 $1.37 $1.32 $1.35 Consumer Staples

$0.00 $2.62 $0.00 $2.51 $0.00 Energy

$2.23 $2.25 $2.21 $2.24 Utilities

-$0.13 $2.97 -$0.13 $2.95 Energy

$0.29 $0.56 $0.38 $0.56 Industrials

$0.36 $0.31 $0.36 $0.31 Financials

$1.82 $1.57 $1.64 $1.55 Financials

$2.28 $2.00 $2.18 $1.96 Materials

$0.49 $0.75 $0.61 $0.76 Utilities

$1.40 $1.42 $1.43 $1.40 Materials

$2.29 $2.04 $2.28 $2.03 Industrials

$9.43 $11.66 $9.17 Consumer Discretionary

$0.61 $0.20 $0.60 $0.20 Financials

$1.10 $1.08 $0.96 $1.03 Consumer Staples

$0.46 $0.24 $0.46 $0.24 Financials

-$0.01 $0.11 -$0.04 $0.09 Financials

$3.12

$3.08 Financials

$1.12 $0.68 $1.11 $0.68 Financials

PEG

$0.69 $0.86 $0.68 $0.52 Utilities

$0.31 $0.29 $0.30

Consumer Discretionary

-$0.02 $0.58 -$0.02 $0.57 Energy

$0.75 $0.67 $0.72 $0.62 Information Technology

$0.42 $0.25 $0.45 $0.25 Industrials

$1.19 $1.18 $1.01 $1.08 Health Care

$1,862.00

$2.50 $2.53 $2.29 $2.46 Consumer Discretionary

-$0.34 $0.21 -$0.34 $0.20 Energy

$1.51 $1.44 $1.51 $1.43 Industrials

RHT Red Hat Inc

$0.18 $0.20 $0.18 $0.20 Information Technology

$0.22 $0.08 $0.22 $0.08 Financials

$0.47 $0.53 $0.42 $0.52 Industrials

$0.75 $0.64 $0.74 $0.63 Consumer Staples

$0.42 $0.31 $0.41 $0.31 Industrials

$1.45 $1.41 $1.38 $1.39 Industrials

$1.32 $1.14 $1.06 $1.02 Industrials

$1.24 $1.15 $1.17 $1.12 Industrials

$0.73 $0.64 $0.72 $0.63 Consumer Discretionary

$0.35 $0.25 $0.21 $0.25 Energy

$1.28 $1.17 $1.26 $1.10 Industrials

$0.45 $0.38 $0.45 $0.38 Consumer Staples

$2,870.00

$0.36 $0.38 $0.33

Information Technology

-$0.50 -$0.04

-$0.03 Information Technology

$0.32 $0.97 $0.31 $0.96 Information Technology

$0.93 $0.81 $0.91 $0.81 Utilities

$1.09 $0.98 $1.06 $0.96 Energy

$0.17 $0.19 $0.19 $0.18 Financials

$0.79 $0.66 $0.78 $0.65 Consumer Discretionary

$1.42 $0.33 $1.42 $0.32 Information Technology

-$0.05 $0.54

$0.41 Materials

$2,507.00

$1.36 $1.23 $1.09 $1.22 Utilities

$2.29 $1.74 $2.24 $1.71 Materials

$0.95 $0.98 $0.92 $0.95 Materials

$0.84 $0.93 $0.84 $0.93 Financials

$1,646.00

$0.31 -$0.15 $0.39 -$0.14 Financials

$1.45 $1.36 $1.36 $1.12 Consumer Staples

$1.30 $1.20 $1.26 $1.16 Industrials

$1.11 $1.07 $1.11 $1.06 Utilities

$0.15 -$0.14 $0.02

Industrials

$0.38 $0.50 -$0.42 $0.50 Energy

$0.27 $0.38 $0.27 $0.38 Energy

-$0.13

-$0.26 -$0.10 Telecommunication Services

$0.81 $0.79 $0.56 $0.69 Health Care

$1.42 $1.37 $0.69 $0.92 Industrials

$0.41 $0.47 -$0.85 $0.47 Consumer Discretionary

$0.47 $0.39 $0.46 $0.47 Consumer Discretionary

$0.76 $0.70 $0.75 $0.85 Consumer Discretionary

$1.07 $1.21 $1.36 $1.10 Financials

$0.86 $0.76 $0.75 $0.68 Industrials

$0.98 $0.91 $0.92 $0.84 Health Care

STI

$2.00 $0.40 $1.98 $0.39 Financials

$0.30 $0.25 $0.27 $0.24 Information Technology

$0.49 $0.51 $0.49 $0.51 Consumer Staples

$0.97 $0.73 $0.94 $0.71 Financials

$0.82 $0.82 $0.96 $0.82 Consumer Discretionary

$0.77 $0.90 $0.93 $0.75 Information Technology

$0.42 $0.42 $0.42 $0.42 Utilities

$647.00

$0.63 $0.54 $0.60 $0.51 Information Technology

TER

$0.47 $0.31 $0.39 $0.25 Information Technology

$2.09 $2.45 $1.92 $2.39 Energy

$0.56 $0.59 $0.67 $0.51 Information Technology

$0.51 $0.49 $0.48 $0.45 Industrials

$0.90 $0.81 $0.82 $0.69 Health Care

$0.50 $0.71 $0.49 $0.70 Consumer Discretionary

$0.90 $0.82 $0.86 $0.78 Consumer Discretionary

$1.36 $1.16 $2.60 $1.08 Consumer Discretionary

$0.11 $0.15 $0.11 $0.14 Materials

$0.63 $0.54 $0.62 $0.53 Consumer Discretionary

$1.37 $1.31 $1.36 $1.30 Financials

$0.32 $0.30 $0.32 $0.30 Information Technology

$2.23 $0.80 $2.21 $0.79 Financials

$0.42 $0.42 $0.41 $0.41 Consumer Discretionary

$0.56 $0.26 $0.51 $0.26 Consumer Staples

$0.74 $0.65 $0.74 $0.64 Financials

$0.32 $0.15 $0.28 $0.15 Materials

$2.21 $1.87 $2.19 $1.85 Industrials

$1.07 $1.07 $0.48 $1.06 Industrials

$1.36 $1.51 $1.37 $1.47 Industrials

$1.52 $1.19 $1.50 $1.17 Health Care

$0.83 $0.69 $0.83 $0.69 Financials

$0.41 $0.34 $0.40 $0.33 Consumer Discretionary

$1.29 $2.15 $1.21 $2.11 Energy

$1.09 $0.97 $1.08 $0.95 Health Care

$0.40 $0.35 $0.39 $0.35 Financials

$0.49 $0.35 $0.46 $0.36 Information Technology

$0.64 $0.56 $0.56 $0.49 Telecommunication Services

$3.58 $2.92 $3.42 $2.69 Consumer Discretionary

$1.22 $1.08 $1.24 $1.00 Consumer Discretionary

$2.48 $1.28 $2.47 $1.27 Information Technology

$0.45 $0.22 $0.45 $0.20 Financials

$0.14 $0.08 $0.12 $0.17 Materials

$1.08 $0.97 $1.08 $0.97 Consumer Staples

WAG Walgreen Co

$0.48 $0.60 $0.39 $0.87 Consumer Staples

$7.05 $2.86 $6.03 -$0.50 Consumer Discretionary

$0.61 $0.59 $0.46 $0.58 Industrials

$1.15 $1.14 $1.12 $1.10 Health Care

$0.84 $0.64 $0.60 $0.54 Health Care

$2.21 $1.92 $2.15 $1.90 Health Care

$0.89 $0.77 $0.88 $0.72 Financials

$2.22 $1.10 $2.06 $1.01 Information Technology

$0.46 $0.40 $0.45 $0.38 Information Technology

$0.22 $0.31 $0.22 $0.25 Financials

$1.69 $2.68 $0.94 $2.27 Consumer Discretionary

$0.61 $0.42 $0.60 $0.42 Consumer Staples

$0.26 $0.40 $0.25 $0.47 Energy

$0.12 $0.17 $0.09 $0.14 Telecommunication Services

$0.68 $0.56 $0.67 $0.55 Utilities

$0.00

$0.00 -$0.33 $0.00 Energy

$1.15 $1.01 $1.11 $1.08 Consumer Discretionary

$1.32 $1.02 $1.11 $1.01 Consumer Discretionary

$0.79 $0.69 $0.81 $0.69 Utilities

$0.22 $0.22 $0.21 $0.22 Information Technology

$0.47 $0.49 $0.46 $0.47 Information Technology

$0.57 $0.14 $0.56 $0.14 Financials

$0.45 $0.57 $0.38 $0.42 Industrials

$0.35 $0.23 $2.64 $0.23 Information Technology

$1.02 $0.86 $1.00 $0.80 Consumer Discretionary

$1.16 $1.05 $1.02 $1.01 Health Care

$0.34 $0.35 $0.34 $0.35 Financials

S&P 500 Q4 2012 EarningsAlert
Actual operating, as reported and sales are from S&P Compustat
Issue level data includes restatements
		PRIOR
TICKER	COMPANY		$ MILLIONS		PER SHARE		YEAR
ACN	Accenture Plc’A’	$7,668.03	$7,589.10											$1.09								$0.96
ADBE	Adobe Systems	$1,153.43	$1,152.16																		$0.35
Alcoa Inc	$5,898.00	$5,989.00								$0.21	–									$0.18
	APOL		Apollo Group’A’	$1,055.18	$1,178.69								$1.32
	AZO		AutoZone Inc	$1,991.04	$1,924.34	$5.52
	B	BBY		Bed Bath & Beyond	$2,701.80	$2,343.56			$1.03
	KMX		CarMax Inc	$2,727.80	$2,375.14																					$0.41		$0.36
	C	CL		Carnival Corp	$3,578.00	$3,697.00
	CTAS		Cintas Corp	$1,060.39	$1,019.13													$0.59									$0.63
	CAG		ConAgra Foods	$3,735.50	$3,403.90
	STZ		Constellation Brands’A’	$766.90	$700.70
	COST		Costco Wholesale	$23,715.00	$21,628.00														$0.73
	DRI		Darden Restaurants	$1,960.00	$1,831.40
	DF		Discover Financial Svcs	$2,310.00	$2,175.63											$1.08								$1.07
F	DO		Family Dollar Stores	$2,421.69	$2,148.29
	FDX		FedEx Corp	$11,107.00	$10,587.00				$1.57
	GIS		Genl Mills	$4,881.80	$4,623.80
	JBL		Jabil Circuit	$4,637.02	$4,326.77								$0.55
	MU		Micron Technology	$1,834.00	$2,090.00	–							$0.29
	Monsanto Co	$2,939.00	$2,439.00
	MOS		Mosaic Co	$2,536.20	$3,019.50
	NKE		NIKE, Inc’B’	$5,955.00	$5,731.00
	ORCL		Oracle Corp	$9,094.00	$8,792.00													$0.43
	PAYX		Paychex Inc	$569.40	$545.70
	RHT		Red Hat Inc	$343.61	$290.03
	WAG		Walgreen Co	$17,316.00	$18,157.00
AMGN	Amgen Inc	$4,319.00	$3,944.00			$1.58					$1.41
A	PH	Amphenol Corp’A’	$1,103.38	$1,032.75										$0.91
APC	Anadarko Petroleum		$3,283.00	$3,384.00	-$6.12
ADI	Analog Devices	$694.96	$716.13
AON	Aon PLC	$2,737.00	$2,723.00
APA	Apache Corp	$4,141.00	$4,282.00											$0.72
AIV	Apartment Investment & Mg	$269.73	$279.70		-$0.07			-$0.26
$996.50	$1,122.12									$1.02
AAPL	Apple Inc	$35,966.00	$28,270.00
AMAT	Applied Materials		$1,646.00	$2,181.00			-$0.42
ADM	Archer-Daniels-Midland	$21,808.00	$21,902.00
AIZ	Assurant Inc	$2,140.48	$2,056.60			$1.52
AT&T Inc	$31,459.00	$31,478.00
ADSK	Autodesk, Inc	$548.00	$548.60
ADP	Automatic Data Proc	$2,637.50	$2,522.50
AutoNation Inc	$3,932.50	$3,506.50
$2,763.59	$2,642.00	$8.65
AVB	AvalonBay Communities	$277.46	$253.69														$0.75						$0.89
AVY	Avery Dennison Corp	$1,487.80	$1,699.60																						$0.47
AVP	Avon Products	$2,550.90	$2,762.40
BHI	Baker Hughes Inc	$5,228.00	$5,178.00														$0.70
BLL	Ball Corp	$2,282.50	$2,258.30										$0.74
BK	Bank of New York Mellon		$3,803.00	$3,847.00
BCR	Bard (C.R.)	$722.90	$719.20							$1.50					$1.46
	BA	Baxter Intl	$3,477.00	$3,479.00							$1.15
BBT	BB&T Corp	$2,683.00	$2,440.00											$0.71
BEAM	Beam Inc	$627.50	$1,427.30		-$0.41
BDX	Becton, Dickinson	$1,967.17	$2,050.80
$2,593.01	$2,314.06											$0.98
B	MS	Bemis Co	$1,287.80	$1,357.88
BRK.B	Berkshire Hathaway’B’	$40,984.00	$33,692.00
Best Buy	$10,753.00	$11,347.00
BIG	Big Lots	$1,134.20	$1,138.29		–					$0.10			-$0.10
BIIB	Biogen Idec	$1,385.55	$1,309.93
BLK	BlackRock Inc	$2,320.00	$2,225.00	$3.65
BMC	BMC Software	$548.20	$556.70
Boeing Co	$20,008.00	$17,727.00
BWA	Borg Warner	$1,695.20	$1,791.80						$1.24
BXP	Boston Properties	$484.71	$464.13
BSX	Boston Scientific	$1,734.00	$1,874.00
BMY	Bristol-Myers Squibb	$3,736.00	$5,345.00	-$0.43
BRCM	Broadcom Corp’A’	$2,128.00	$1,957.00
BF.B	Brown-Forman’B’	$776.70	$781.10
CHRW	C.H. Robinson Worldwide	$2,880.41	$2,694.93
CA Inc	$1,152.00	$1,200.00
CVC	Cablevision Sys’A’	$1,672.54	$1,665.79
COG	Cabot Oil & Gas	$296.87	$262.12
CAM	Cameron Intl	$2,218.30	$1,685.90
CPB	Campbell Soup	$2,336.00	$2,161.00
COF	Capital One Financial	$6,390.00	$4,706.00	$2.10
CAH	Cardinal Health	$25,889.00	$26,792.00
$2,881.28	$2,700.05
$4,684.00	$5,057.00
CAT	Caterpillar Inc	$16,445.00	$15,716.00	$2.34	$2.05
	CB	CBRE Group’A’	$1,557.15	$1,534.46
CBS	CBS Corp ‘B’	$3,418.00	$3,365.00
C	EL	Celgene Corp	$1,419.25	$1,249.74
CNP	CenterPoint Energy	$1,705.00	$1,881.00
CTL	CenturyLink Inc	$4,571.00	$4,596.00
CERN	Cerner Corp	$676.48	$571.64
CF	CF Industries Hldgs	$1,359.40	$1,403.80	$6.35
CHK	Chesapeake Energy	$2,971.00	$3,978.00	-$3.22	-$3.19
CVX	Chevron Corp	$53,497.00	$59,287.00
CMG	Chipotle Mexican Grill	$700.53	$591.85
Chubb Corp	$3,353.00	$3,412.00
CI	Cigna Corp	$7,358.00	$5,613.00				$1.85
CINF	Cincinnati Financial		$1,035.00	$944.00
$1,051.33	$1,017.18
	CSC	Cisco Systems	$11,876.00	$11,256.00															$0.33
Citigroup Inc	$23,656.00	$26,862.00						$0.16
CTXS	Citrix Systems	$641.42	$565.35
CLF	Cliffs Natural Resources	$1,544.90	$2,142.80
CLX	Clorox Co	$1,338.00	$1,305.00
CME	CME Group Inc	$696.30	$877.90
CMS	CMS Energy		$1,507.00	$1,464.00
COH	Coach Inc	$1,161.35	$1,050.36									$0.77
KO	Coca-Cola Co	$12,340.00	$12,246.00
CCE	Coca-Cola Enterprises	$2,070.00		$2,140.00
CTSH	Cognizant Tech Solutions’	$1,891.69	$1,602.69
Colgate-Palmolive	$4,332.00	$4,383.00
CMCSA	Comcast Cl’A’	$16,544.00	$14,339.00
CMA	Comerica Inc	$656.00	$664.00
Computer Sciences	$3,854.00	$4,008.00	-$18.56
$3,311.90	$3,072.00
COP	ConocoPhillips	$14,520.00	$59,188.00
CNX	CONSOL Energy	$1,125.39	$1,499.80
Consolidated Edison		$3,438.00	$3,630.00
$698.50	$690.20
CBE	Cooper Industries	$1,497.50	$1,389.70
GLW	Corning Inc	$2,038.00	$2,075.00
$32,218.00	$28,178.00
CVH	Coventry Health Care	$3,457.78	$2,975.54												$0.84
COV	Covidien Plc	$3,001.00	$3,078.00
CCI	Crown Castle Intl	$621.34	$513.88
CSX	CSX Corp	$2,894.00	$2,963.00
CMI	Cummins Inc	$4,121.00	$4,629.00
CVS	CVS Caremark Corp	$30,227.00	$26,674.00
DHI	D.R.Horton	$1,338.80	$1,098.30										$0.30
DHR	Danaher Corp	$4,415.54	$4,518.09
$2,034.80	$1,942.00								$0.87
	DV	DaVita Inc	$1,962.97	$1,807.87		$1.48
Dean Foods	$3,143.25	$3,410.80	-$8.41
Deere & Co	$9,791.50	$8,611.70	$1.75
DELL	Dell Inc	$13,721.00	$15,365.00
DNR	Denbury Resources	$595.32	$572.06
XRAY	DENTSPLY Intl	$695.73	$619.76
DVN	Devon Energy	$1,865.00	$3,502.00		-$1.80
DeVry Inc	$482.74	$519.04
Diamond Offshore Drilling	$729.14	$878.18					$1.28
DTV	D	IR	$7,416.00	$6,844.00
DFS	$2,289.22	$2,151.05
	DIS	Discovery Communications’	$1,076.00	$1,095.00
Disney (Walt) Co	$10,782.00	$10,425.00
DLTR	Dollar Tree	$1,720.50	$1,596.60
Dominion Resources	$3,411.00
RRD	Donnelley(R.R.)& Sons	$2,508.80	$2,683.30
DOV	Dover Corp	$2,208.70	$2,203.39
DOW	Dow Chemical	$13,637.00	$15,109.00
DPS	Dr. Pepper Snapple Group	$1,528.00	$1,529.00
DTE	DTE Energy		$2,206.00	$2,265.00
DUK	Duke Energy	$6,722.00	$3,964.00
DNB	Dun & Bradstreet	$413.20	$439.40		$1.97
DD	duPont(E.I.)deNemours	$7,420.00	$9,336.00
ETFC	E Trade Financial	$563.16	$585.41
EMN	Eastman Chemical	$2,259.00	$1,812.00
EBAY	eBay Inc	$3,404.00	$2,965.76
ECL	Ecolab Inc	$3,023.30	$1,736.10
EIX	Edison Intl	$4,070.00	$3,980.00
EW	Edwards Lifesciences	$447.90	$412.70
Electronic Arts	$711.00	$715.00		-$1.21	-$1.00	-$1.03
EMC	EMC Corp	$5,278.18	$4,980.20
EMR	Emerson Electric	$6,700.00	$6,545.00					$1.13
ESV	E	NSC	$1,	123	$915.60
ETR	Entergy Corp	$2,963.56	$3,395.55
EOG	EOG Resources	$2,878.30	$2,672.22		$1.33
EQT	EQT Corp	$364.06	$336.72
EFX	Equifax Inc	$543.90	$490.40								$0.64
EQR	Equity Residential	$626.23	$517.27
EXC	Exelon Corp	$6,565.00	$5,295.00
EXPE	Expedia Inc	$1,199.02	$1,140.84							$1.26	$1.56			$1.20
EXPD	Expeditors Intl,Wash	$1,531.66	$1,606.37
ESRX	Express Scripts Holding	$27,027.90	$11,599.50
XOM	Exxon Mobil	$103,417.00	$111,991.00
FFIV	F5 Networks	$362.56	$314.62
FDO	$2,364.13	$2,134.33
FAST	Fastenal Co	$802.58	$726.74
FII	Federated Investors ‘B’	$238.47	$214.05
$10,792.00	$10,521.00
FIS	Fidelity Natl Info Svcs	$1,436.90	$1,426.20
FITB	Fifth Third Bancorp	$1,695.00	$1,720.00
FHN	First Horizon Natl	$364.05	$429.25
FSLR	First Solar	$839.15	$1,005.79
FE	FirstEnergy Corp	$4,311.00	$4,756.00
FISV	Fiserv Inc	$1,118.00	$1,063.00
FLIR	FLIR Systems	$332.23	$371.33
FLS	Flowserve Corp	$1,165.92	$1,121.81
FLR	Fluor Corp	$7,136.06	$6,037.61
FMC	FMC Corp	$902.40	$862.10
FTI	FMC Technologies	$1,419.00	$1,287.20
Ford Motor	$32,172.00	$33,047.00
FRX	Forest Labs	$746.29	$1,163.83
FOSL	Fossil Inc	$684.17	$642.91
BEN	Franklin Resources	$1,825.01	$1,854.78
FCX	Freep’t McMoRan Copper&Go	$4,417.00	$5,195.00
FTR	Frontier Communications	$1,252.47	$1,290.94
GME	GameStop Corp’A’	$1,772.80	$1,946.80
GCI	Gannett Co	$1,309.26	$1,266.03
GPS	Gap Inc	$3,864.00	$3,585.00
GD	Genl Dynamics	$7,934.00	$7,853.00
Genl Electric	$35,562.00	$34,811.00
$4,051.00	$3,847.60
GPC	Genuine Parts	$3,375.78	$3,285.56
GNW	Genworth Financial’A’	$2,544.00		$2,507.00
GILD	Gilead Sciences	$2,426.60	$2,121.66
Goldman Sachs Group	$10,144.00	$5,585.00		-$0.84
GT	Goodyear Tire & Rub	$5,264.00	$6,062.00
GOOG	Google Inc’A’	$14,101.00	$9,720.00	$8.44
GWW	Grainger (W.W.)	$2,281.20	$2,114.65		$2.19
HRB	H & R Block	$137.26	$129.19	-$0.38		-$0.37
HAL	Halliburton Co	$7,111.00	$6,548.00
HOG	Harley-Davidson	$1,250.30	$1,397.26
Harman Intl	$998.19	$1,050.60
HRS	Harris Corp	$1,261.50	$1,460.30
HIG	Hartford Finl Svcs Gp	$6,414.00	$4,453.00					-$0.03
HAS	Hasbro Inc	$1,345.14	$1,375.81
HCP	HCP Inc	$488.88	$461.72
HCN	Health Care REIT	$473.40	$386.43
HNZ	Heinz (H.J.)	$2,827.21	$2,831.83
HP	Helmerich & Payne	$829.45	$700.75
HSY	Hershey Co	$1,746.71	$1,624.25
HES	Hess Corp	$9,194.00	$8,665.00		$1.64
HPQ	Hewlett-Packard	$29,959.00	$32,122.00	-$3.49
HD	Home Depot	$18,130.00	$17,326.00
HON	Honeywell Intl	$9,342.00	$9,298.00
HRL	Hormel Foods	$2,170.18	$2,103.90
HSP	Hospira Inc	$994.00	$976.70
HST	Host Hotels & Resorts	$1,207.00	$1,143.00
HCBK	Hudson City Bancorp	$408.45	$527.63
HUM	Humana Inc	$9,651.00	$9,300.64
HBAN	Huntington Bancshares	$744.85	$749.55
ITW	Illinois Tool Works	$4,501.00	$4,580.52
Ingersoll-Rand Plc	$3,592.70	$3,928.50
TEG	Integrys Energy Group	$927.60	$938.70
INTC	Intel Corp	$13,457.00	$14,233.00
IntercontinentalExchange	$323.19	$340.78
	IP	Interpublic Grp Cos	$1,670.40	$1,726.50
IBM	Intl Bus. Machines	$24,747.00	$26,157.00
IFF	Intl Flavors/Fragr	$708.96	$713.77
IGT	Intl Game Technology	$623.70		$537.80
Intl Paper	$7,026.00	$6,632.00
INTU	Intuit Inc		$647.00	$594.00		-$0.17			-$0.21
ISRG	Intuitive Surgical	$446.70
I	VZ	INVESCO Ltd	$1,041.40	$997.80
IRM	Iron Mountain	$748.13	$772.08
$4,338.08	$4,280.29
JEC	Jacobs Engr Group	$2,786.28	$2,723.30
JDSU	JDS Uniphase Corp	$420.90	$420.80
JNJ	Johnson & Johnson	$17,052.00	$16,005.00
JCI	Johnson Controls	$10,392.00	$10,788.00
JOY	Joy Global	$1,594.90	$1,335.29
J	PM	JPMorgan Chase & Co	$27,799.00	$27,106.00
JNPR	Juniper Networks	$1,118.31	$1,105.80
Kellogg Co	$3,720.00	$3,312.00
KEY	KeyCorp	$1,215.00	$1,188.00
KMB	Kimberly-Clark	$5,246.00	$5,382.00		$1.34
KIM	Kimco Realty	$269.85	$274.02
KMI	Kinder Morgan		$2,870.00
KLAC	KLA-Tencor Corp	$720.71	$796.48
KSS	Kohl’s Corp	$4,490.00	$4,376.00
KR	Kroger Co	$21,807.00	$20,595.00
LLL	L-3 Communications Hldgs	$3,787.00
LH	Laboratory Corp Amer Hldg	$1,419.40	$1,404.50
LRCX	Lam Research	$906.89	$680.44
Lauder (Estee) Co	$2,549.50	$2,476.70
LM	Legg Mason Inc	$672.17	$640.46
LEG	Leggett & Platt	$982.20	$940.90
LEN	Lennar Corp’A’	$1,099.76	$820.19
LUK	Leucadia National	$2,187.49	$236.06		-$1.19
LXK	Lexmark Intl’A’	$921.10
LIFE	Life Technologies	$911.18	$928.20
LLY	Lilly (Eli)	$5,443.30	$6,147.90
LTD	Limited Brands	$2,050.19	$2,173.42
LNC	Lincoln Natl Corp	$2,954.00	$2,547.00
LLTC	Linear Technology Corp	$335.15	$329.92
LMT	Lockheed Martin	$11,869.00	$12,119.00
Loews Corp	$3,715.00
LO	Lorillard Inc	$1,164.00	$1,113.00					$2.18
LOW	Lowe’s Cos	$12,073.00	$11,851.00
LSI	LSI Corp	$623.96	$546.91
LYB	LyondellBasell Industries	$11,273.00	$13,297.00
MTB	M&T Bank	$1,190.58	$1,088.73	$2.17
Macy’s Inc	$6,075.00	$5,853.00
MRO	Marathon Oil	$4,034.00	$3,649.00
MPC	Marathon Petroleum	$19,586.00	$19,287.00
MAR	Marriott Intl’A’	$2,729.00	$2,874.00	-$0.52
MMC	Marsh & McLennan	$2,845.00	$2,806.00
MAS	Masco Corp	$1,976.00	$2,006.00
MasterCard Inc’A’	$1,918.00	$1,818.00
Mattel, Inc	$2,077.82	$1,998.76
MKC	McCormick & Co	$977.70	$920.40
MCD	McDonald’s Corp	$7,152.40	$7,166.30
MHP	McGraw-Hill Companies	$1,952.00	$1,908.00
MCK	McKesson Corp	$29,850.00	$30,216.00
MJN	Mead Johnson Nutrition	$921.30	$933.90
MWV	MeadWestvaco Corp	$1,395.00	$1,639.00
MDT	Medtronic, Inc	$4,095.00	$4,132.00
MRK	Merck & Co	$11,489.00	$12,021.00
MetLife Inc	$16,503.00	$20,456.00
PCS	MetroPCS Communic	$1,259.16	$1,205.39
MCHP	Microchip Technology	$383.30	$340.60	-$0.11
$1,963.00				-$0.24				-$0.13			-$0.14
MSFT	Microsoft Corp	$16,008.00	$17,372.00
MOLX	Molex Inc	$916.92	$935.99
TAP	Molson Coors Brewing’B’	$1,195.50	$954.40
$2,098.00	$2,247.00		-$0.44	-$0.22
MNST	Monster Beverage	$541.94	$474.71
MCO	Moody’s Corp	$688.50	$531.30
Morgan Stanley	$6,825.00	$11,455.00	-$0.55
$2,505.10	$3,083.30
MSI	Motorola Solutions	$2,153.00	$2,105.00
MUR	Murphy Oil	$7,130.63	$7,211.41
MYL	Mylan Inc	$1,809.77	$1,575.76
NBR	Nabors Indus	$1,766.42	$1,624.79
NDAQ	Nasdaq OMX Group	$743.00	$946.00
NOV	Natl Oilwell Varco	$5,319.00	$3,740.00		$1.25
NTAP	NetApp Inc	$1,541.20
NFLX	NetFlix Inc	$905.09	$821.84
NWL	Newell Rubbermaid	$1,535.30	$1,549.90	-$0.57
NFX	Newfield Exploration	$615.00	$628.00		-$0.15
	NE	Newmont Mining	$2,480.00	$2,744.00
NWSA	News Corp ‘A’	$8,136.00	$7,959.00
NEE	NextEra Energy	$3,843.00	$4,382.00
$6,669.00	$6,081.00
NiSource Inc	$973.50	$1,068.70
Noble Corp	$884.03	$737.90
NBL	Noble Energy	$955.00	$874.00
JWN	Nordstrom, Inc	$2,808.00	$2,478.00
Norfolk Southern	$2,693.00	$2,889.00
Northeast Utilities	$1,861.53	$1,114.89
NTRS	Northern Trust	$1,050.00	$1,061.80
NOC	Northrop Grumman	$6,270.00	$6,612.00
NRG	NRG Energy	$2,331.00	$2,674.00
NUE	Nucor Corp	$4,801.20	$5,252.14
NVDA	NVIDIA Corp	$1,204.11	$1,066.18
NYX	NYSE Euronext	$902.00	$1,258.00
ORLY	O’Reilly Automotive	$1,601.56	$1,535.45
OXY	Occidental Petroleum	$5,965.00	$6,006.00
OMC	Omnicom Group	$3,406.60	$3,380.80
OKE	ONEOK Inc	$3,028.78	$3,595.19
$8,181.00	$8,374.00
OI	Owens-Illinois	$1,747.00		$1,862.00
PCAR	PACCAR Inc	$3,820.20	$4,257.10
PLL	Pall Corp	$627.60	$705.64
Parker-Hannifin	$3,214.93	$3,233.88
PDCO	Patterson Cos	$867.19	$856.88
$578.20	$563.10
BTU	Peabody Energy	$2,058.70	$2,035.90
JCP	Penney (J.C.)	$2,927.00	$3,986.00	-$0.56	-$0.67
PBCT	People’s United Financial	$341.70	$358.70
POM	Pepco Holdings	$1,476.00	$1,643.00
PEP	PepsiCo Inc	$16,652.00	$17,582.00
PKI	PerkinElmer Inc	$514.84	$453.74
PRGO	Perrigo Co	$769.81	$725.29
PFE	Pfizer, Inc	$13,976.00	$17,193.00
PCG		PG	$3,976.00	$3,860.00
Philip Morris Intl	$7,920.00	$8,362.00
PSX	Phillips 66	$39,633.00
PNW	Pinnacle West Capital	$1,109.47	$1,124.84
	PX	Pioneer Natural Resources	$695.42	$610.51
PBI	Pitney Bowes	$1,215.68	$1,299.72
PCL	Plum Creek Timber	$368.00	$307.00
PNC	PNC Financial Services Gr	$4,359.00	$3,899.00
PPG	PPG Indus	$3,845.00	$3,849.00
PPL	PPL Corp	$2,403.00	$3,120.00
Praxair Inc	$2,774.00	$2,896.00
PCP	Precision Castparts	$1,930.50	$1,789.60
PCLN	priceline.com Inc	$1,706.31	$1,452.80	$11.97
PFG	Principal Financial Grp	$2,704.70	$2,088.80
Procter & Gamble	$20,739.00	$21,917.00
PGR	Progressive Corp,Ohio	$4,342.30	$3,807.10
PLD	Prologis Inc	$521.07	$532.37
PRU	Prudential Financial	$13,147.00	$14,936.00	-$1.36	-$1.41
PSA	Public Storage	$491.02	$468.26
Public Svc Enterprises	$2,402.00	$2,884.00
PHM	PulteGroup Inc	$1,302.59	$1,141.93			-$0.34
QEP	QEP Resources	$542.40	$852.40
QCOM	QUALCOMM Inc	$4,870.00	$4,117.00
PWR	Quanta Services	$1,685.20	$1,250.82
DGX	Quest Diagnostics	$1,851.44	$1,906.40
Ralph Lauren Corp’A’	$1,904.60
RRC	Range Resources	$296.31	$338.38
RTN	Raytheon Co	$6,045.00	$6,132.00
$322.60	$281.32
RF	Regions Financial	$1,497.00	$1,809.00
RSG	Republic Services	$2,046.90	$2,116.20
RAI	Reynolds American	$2,117.00	$2,200.00
RHI	Robert Half Intl	$1,033.17	$984.67
ROK	Rockwell Automation	$1,664.00	$1,654.30
COL	Rockwell Collins	$1,267.00	$1,298.00
ROP	Roper Indus	$747.64	$712.71
ROST	Ross Stores	$2,262.72	$2,046.43
RDC	Rowan Cos Plc	$353.91	$234.70
Ryder System	$1,573.30	$1,570.72
S	WY	Safeway Inc	$10,049.10	$10,064.20
SAI	SAIC Inc	$2,842.00	-$0.28
CRM	salesforce.com inc	$788.40	$584.26	-$1.55
SNDK	SanDisk Corp	$1,273.19	$1,416.03
SCG	SCANA Corp	$1,039.00	$1,093.00
SLB	Schlumberger Ltd	$10,608.00	$10,229.00
SCHW	Schwab(Charles)Corp	$1,245.00	$1,233.00
SNI	Scripps Networks Interact	$566.19	$503.74
STX	Seagate Technology Plc	$3,732.00	$2,811.00
SEE	Sealed Air	$1,900.30	$1,247.10	-$6.41
SRE	Sempra Energy	$2,576.00
SHW	Sherwin-Williams	$2,603.23	$2,484.92
SIAL	Sigma-Aldrich	$639.00	$626.00
SPG	Simon Property Group	$1,265.75	$1,091.48
SLM	SLM Corp	$1,654.82
SJM	Smucker (J.M.)	$1,628.75	$1,513.90
SNA	Snap-On Inc	$752.10	$729.90
Southern Co	$5,049.00	$5,428.00
LUV	Southwest Airlines	$4,309.00	$4,312.00	-$0.18
SWN	Southwestern Energy	$685.85	$767.25
Spectra Energy	$1,072.00	$1,123.00
Sprint Nextel Corp	$8,763.00	$8,333.00	-$0.06
STJ	St. Jude Medical	$1,326.00	$1,382.56
SWK	Stanley Black & Decker	$2,786.70	$2,636.40
SPLS	Staples Inc	$6,353.14	$6,569.93
SBUX	Starbucks Corp	$3,364.20	$3,031.70
HOT	Starwood Hotels&Res World	$1,455.00	$1,372.00
STT	State Street Corp	$2,467.00	$2,577.00
SRCL	Stericycle Inc	$480.48	$420.92
SYK	Stryker Corp	$2,052.00	$2,031.30
SunTrust Banks	$3,987.00	$2,441.00
SYMC	Symantec Corp	$1,699.00	$1,681.00
SYY	Sysco Corp	$11,086.91	$10,586.39
TROW	T.Rowe Price Group	$769.70	$680.20
TGT	Target Corp	$16,929.00	$16,402.00
TEL	TE Connectivity	$3,364.00	$3,911.00
TECO Energy	$858.60	$911.40
TDC	Teradata Corp	$605.00
Teradyne Inc	$463.39	$344.39
TSO	Tesoro Corp	$8,636.00	$8,004.00
TXN	Texas Instruments	$3,330.00	$3,466.00
TXT	Textron, Inc	$3,000.00	$2,814.00
TMO	Thermo Fisher Scientific	$3,085.70	$2,973.50
TIF	Tiffany & Co	$852.74	$821.77
TWX	Time Warner	$6,842.00	$7,068.00
TWC	Time Warner Cable	$5,363.00	$4,911.00
TIE	Titanium Metals	$257.70	$262.50
TJX	TJX Companies	$6,410.91	$5,793.13
TMK	Torchmark Corp	$877.10	$837.24
TSS	Total System Svcs	$468.06	$459.75
TRV	Travelers Cos	$6,512.00	$6,407.00
TRIP	TripAdvisor Inc	$212.71	$180.80
TSN	Tyson Foods’A’	$8,373.00	$8,404.00
USB	U.S. Bancorp	$5,623.00	$5,371.00
U.S. Steel	$4,652.00	$5,081.00
UNP	Union Pacific	$5,343.00	$5,101.00
UPS	United Parcel’B’	$13,071.00	$13,166.00
UTX	United Technologies	$15,042.00	$14,804.00
UNH	UnitedHealth Group	$27,302.00	$25,280.00
UNM	Unum Group	$2,628.00	$2,545.60
URBN	Urban Outfitters	$692.89	$609.95
VLO	Valero Energy	$34,478.00	$33,484.00
VAR	Varian Medical Systems	$756.16	$718.92
VTR	Ventas Inc	$659.02	$566.14
VRSN	VeriSign Inc	$223.53	$196.97
Verizon Communications	$29,007.00	$27,913.00
VFC	VF Corp	$3,148.35	$2,750.07
VIAB	Viacom Inc’B’	$3,363.00	$4,053.00
Visa Inc’A’	$2,731.00	$2,383.00
VNO	Vornado Realty Trust	$739.69	$706.95
VMC	Vulcan Materials	$728.86	$760.75
	WM	Wal-Mart Stores	$113,929.00	$110,226.00
$17,073.00	$17,967.00
WPO	Washington Post’B’	$1,011.33	$1,032.64
Waste Management	$3,461.00	$3,522.00
WAT	Waters Corp	$449.95	$454.53
WPI	Watson Pharmaceuticals	$1,285.20	$1,081.60
WLP	WellPoint Inc	$15,353.10	$15,398.00
WFC	Wells Fargo	$22,476.00	$21,264.00
WDC	Western Digital	$4,035.00	$2,694.00
WU	Western Union	$1,421.60	$1,410.80
Weyerhaeuser Co	$1,772.00	$1,569.00
WHR	Whirlpool Corp	$4,495.00	$4,625.00
WFM	Whole Foods Market	$2,910.33	$2,353.83
WMB	Williams Cos	$1,752.00	$2,703.00
WIN	Windstream Corp	$1,552.40	$1,023.30
WEC	Wisconsin Energy Corp	$1,039.30	$1,052.80
WPX	WPX Energy	$677.00		-$0.33
WYN	Wyndham Worldwide	$1,265.00	$1,212.00
WYNN	Wynn Resorts	$1,298.49	$1,298.30
XEL	Xcel Energy	$2,724.34	$2,831.60
XRX	Xerox Corp	$5,423.00	$5,583.00
	XL	Xilinx Inc	$543.93	$555.21
XL Group Plc’A’	$1,801.43	$1,665.14
XYL	Xylem Inc	$931.00	$939.00
YHOO	Yahoo Inc	$1,201.73	$1,216.66
YUM	Yum Brands	$3,569.00	$3,274.00
ZMH	Zimmer Holdings	$1,025.50	$1,031.50
ZION	Zions Bancorp	$634.23	$675.44

SALES

S&P Dow Jones Indices

$44.09

$27.48

$34.67

S&P 500

$268.99 $268.03 $267.33 $272.64 $265.99 $263.31 $250.89 $252.73 $240.84

Dec-12 Est Sep-12 Jun-12 Mar-12 Dec-11 Sep-11 Jun-11 Mar-11 Dec-10 Sep-10

ENERGY

MATERIALS

INDUSTRIALS

7.93%

CONSUMER DISCRETIONARY

6.78%

CONSUMER STAPLES

6.44%

HEALTH CARE

FINANCIALS

INFORMATION TECHNOLOGY

TELECOMMUNICATION SERVICES

4.29%

UTILITIES

S&P 500

9.07%

9.44%

Dec-12 Est Sep-12 Jun-12 Mar-12 Dec-11 Sep-11 Jun-11 Mar-11 Dec-10 Sep-10

ENERGY

MATERIALS

3.91%

INDUSTRIALS

11.56%

CONSUMER DISCRETIONARY

CONSUMER STAPLES

13.81%

13.89%

HEALTH CARE

12.22%

12.06%

12.15%

FINANCIALS

14.02%

INFORMATION TECHNOLOGY 11.52%

10.72%

TELECOMMUNICATION SERVICES

3.22% 3.18%

3.15%

UTILITIES

3.53% 3.08%

3.78%

4.00%

S&P 500

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

S&P 500 sales
Data based on a combination of reported and estimated sales for Q4,’12
QUARTERL SALES PER SHARE			Dec-12 Est			Sep-12			Jun-12			Mar-12	Dec-11	Sep-11	Jun-11		Mar-11	Dec-10	Sep-10
		ENERGY	$152.35	$140.93	$145.39	$145.20	$143.47	$145.58	$139.33	$128.52	$117.59	$110.14
		MATERIALS	$48.52	$48.38	$50.73	$50.26	$46.48	$50.09	$53.50	$49.88	$45.42	$44.61
		INDUSTRIALS	$69.17	$68.18	$68.89	$66.16	$68.05	$66.59	$64.87	$60.50	$63.91	$61.13
		CONSUMER DISCRETIONARY	$88.93	$79.10	$78.22	$76.24	$82.93	$74.69	$74.61	$70.26	$74.54	$67.67
		CONSUMER STAPLES	$91.64	$87.11	$84.24	$85.43	$88.41	$85.25	$84.13	$79.44	$81.59	$74.01
		HEALTH CARE	$89.91	$87.03	$88.43	$88.44	$88.66	$85.87	$85.02	$82.19	$81.99	$77.91
		FINANCIALS	$32.74	$36.52	$35.26	$35.46	$35.05	$35.84	$37.09	$36.09	$37.67	$38.76
		INFORMATION TECHNOLOGY	$55.23	$49.17	$49.37	$49.52	$52.44	$46.90	$46.26	$45.73	$42.00
		TELECOMMUNICATION SERVICES	$29.91	$29.14	$28.95	$28.77	$28.23	$27.32	$27.14	$26.96	$27.16
		UTILITIES	$36.96	$30.55	$33.09	$33.75	$38.25	$33.83	$36.56	$34.10	$36.90
$280.68
QUARTERLY OPERATING MARGINS
7.41%	7.19%	8.40%		7.93%	7.00%	9.69%	9.32%	8.41%	7.74%	7.62%
6.12%	6.59%	8.79%	8.42%	4.02%	7.83%	10.17%	9.94%	7.52%	7.28%
8.05%	8.43%	8.96%	8.28%	7.97%	8.17%	8.54%	7.54%	8.19%
7.02%	7.24%		6.78%		6.44%	6.73%	6.93%	7.21%	6.65%	6.54%
6.30%	6.58%	6.51%	5.92%	6.29%	6.46%	6.41%	6.19%	6.77%
9.00%	9.11%		9.07%		9.44%	8.35%	8.97%	9.73%	9.37%	8.72%	9.54%
12.37%	11.69%	12.42%	11.08%		11.56%		12.50%	10.65%	10.39%	9.09%	10.12%
17.36%	14.03%	16.49%	16.70%	17.66%	15.61%	16.62%	16.28%	17.28%	15.95%
4.65%	7.17%	7.91%	6.60%	7.10%	6.52%	7.04%	6.04%	6.76%
6.55%	10.56%	8.77%	9.01%	6.87%	10.80%	8.48%	8.62%	6.32%	11.15%
9.02%	8.92%	9.49%	8.70%	9.51%	8.99%	8.68%	8.95%
OPERATING SALES CONTRIBUTION
15.96%	15.48%	15.86%	15.97%	15.59%	16.26%	15.83%	15.30%		13.89%	13.62%
3.76%	3.90%	3.94%		3.91%	3.55%	3.88%		4.00%		3.53%		3.78%
	10.82%	11.19%	11.81%	11.37%	11.48%		11.52%	11.38%	11.05%			11.54%
	13.81%	12.63%	12.59%	12.33%	13.23%	12.28%	12.54%	12.58%	13.34%	12.68%
13.70%	13.69%	13.47%	13.78%		14.02%	13.92%	14.22%	13.73%
11.85%	12.02%		12.22%		12.06%		12.15%	12.46%	12.20%
11.74%	13.59%	1	3.08%	13.11%	12.39%	13.02%	13.61%	13.64%	14.80%
	10.72%	10.79%	11.22%	10.25%	10.04%	10.10%	10.49%	10.19%
	3.18%	3.26%		3.22%		3.15%	3.28%	3.24%	3.43%
3.63%	3.30%	3.29%	3.38%	3.80%	3.51%
																100.00%

COMMENTARY AND LINKS

Of the 28 with full operating comparative data for Q4,’12:
18 beat, 6 missed, and 4 met their estimates

S&P 500 Q4,’12 OPER EPS

SECTOR REPORTED BEAT MISSED MET REPORTED BEAT MISSED MET
Energy 0 0 0 0 0.00% 0.00% 0.00% 0.00%
Materials 3 2 0 1 10.00% 66.67% 0.00% 33.33%
Industrials 2 1 1 0 3.33% 50.00% 50.00% 0.00%
Consumer Discretionary 8 6 2 0 9.64% 75.00% 25.00% 0.00%
Consumer Staples 5 4 1 0 11.90% 80.00% 20.00% 0.00%
Health Care 0 0 0 0 0.00% 0.00% 0.00% 0.00%
Financials 3 1 1 1 3.70% 33.33% 33.33% 33.33%
Information Technology 7 4 1 2 10.00% 57.14% 14.29% 28.57%
Telecommunication Services 0 0 0 0 0.00% 0.00% 0.00% 0.00%
Utilities 0 0 0 0 0.00% 0.00% 0.00% 0.00%
S&P 500 28 18 6 4 5.60%

21.43% 14.29%

————- ISSUES ——————– ———– PERCENTAGE ——————–

SECTOR REPORTED BEAT MISSED MET REPORTED BEAT MISSED MET

Energy 44 26 16 2 100.00%

Materials 31 12 13 6

Industrials 59 35 17 7

Consumer Discretionary 78 53 16 9

11.54%

Consumer Staples 40 27 6 7

Health Care 51 39 6 6

11.76%

Financials 81 53 18 10 100.00%

Information Technology 70 45 12 13 100.00% 64.29%

Telecommunication Services 8 4 2 2 100.00% 50.00% 25.00% 25.00%
Utilities 31 18 11 2

S&P 500

312 117 64

————- ISSUES ——————– ———– PERCENTAGE ——————–

SECTOR REPORTED BEAT MISSED MET REPORTED BEAT MISSED MET

Energy 44 21 18 5 100.00%

Materials 30 16 6 8 100.00%

20.00%

Industrials 60 46 10 4

6.67%

Consumer Discretionary 81 51 22 8 100.00%

Consumer Staples 41 30 7 4 100.00%

Health Care 52 38 8 6 100.00%

11.54%

Financials 81 48 28 5 100.00%

Information Technology 70 48 11 11 100.00%

15.71%

Telecommunication Services 8 5 1 2 100.00%

12.50% 25.00%

Utilities 32 19 12 1 100.00%

S&P 500 499 322 123 54

10.82%

Howard Silverblatt, S&P Dow Jones Indices Senior Index Analyst	January 11, 2013 – January 18, 2013
Currently 18 of 28 issues that reported earnings beat their expectations. However, the narratives have been negative. Earnings will start to pick up next, and a clearer picture should start to emerge about the first half of 2013. Earnings will begin on Tuesday with homebuilder Lenar (LEN) expected to show a significant earnings increase (165%), with investors keying in on their forward sales and evaluation. Pharmaceutical maker, Forest Laboratories (FRX), however, is expected to post a loss for the quarter, which was pre-warned. Wednesday will bring major backs, with bank of New York Mellon (BK) expected to show a 28% gain in earnings, as J PO Morgan (JPM) is expected to post a 34% gain, with Northern Trust (NTRS) expected to post a 12% gain and U.S. Bancorp (USB) expected to post a 17% gain. Investment banker Goldman Sachs Group (GS) is expected to post a 90% again, with online trading service issue eBay (EBAY) expected to show a 15% gain. Thursday will continue with Bank of America (BAC) expected to post a 27% gain in earnings, with Capital One Financial (COF) expected to post an 85% gain. Financial services and charge card issue, American Express (AXP), is expected to post a 5% gain, as semiconductor maker, Intel (INTC), is expected to post a 30% decline in earnings. Friday’s highlight will be conglomerate General Electric (GE), which is expected to post a 10% gain in overall earnings, but investors looking for the segment breakdown for indications in other companies. Friday will also bring earnings from bankers State Street (STT; expected to post a 9% gain) and SunTrust Banks (STI; expected to more than double its earnings). Oilfield services and electronics issue, Schlumberger (SLB), is expected to post a minor decline in earnings. Economic reports will start Tuesday with retail sales, expected to show a 0.2% gain for December, and a 0.1% gain ex-autos. The December PPI is expected to show a 0.1% (it declined 0.8% in November), with the year-over-year gain being 1.4%. The PPI ex-food and energy is expected to be up 0.2% and up 2.1% year-over-year. Wednesday will bring the weekly mortgage applications. The CPI is expected to be unchanged for the month, with the year-over-year gain being 1.8%. The CPI ex-food and energy is expected to be up 0.2% and 2.0% year-over-year. Thursday will bring the weekly new unemployment release. Housing starts are expected to have been slightly up in December, to 875,000 from the prior 861,000 value. Housing permits are expected to be flat at 900,000, with housing completions expected to be at 695,000. Friday will close the week with the Michigan Sentiment report, expected to be a tick up from November.
			————- ISSUES ——————–		———– PERCENTAGE ——————–
	64.29%
S&P 500 Q3,’12 OPER EPS
59.09%	36.36%	4.55%
103.33%	38.71%	41.94%	19.35%
96.72%	59.32%	28.81%	11.86%
96.30%	67.95%	20.51%
97.56%	67.50%	15.00%	17.50%
98.08%	76.47%		11.76%
65.43%	22.22%	12.35%
17.14%	18.57%
96.88%	58.06%	35.48%	6.45%
493	98.60%	63.29%	23.73%	12.98%
S&P 500 Q2,’12 OPER EPS
47.73%	40.91%	11.36%
53.33%	26.67%
98.36%	76.67%	16.67%
62.96%	27.16%	9.88%
73.17%	17.07%	9.76%
73.08%	15.38%
59.26%	34.57%	6.17%
68.57%		15.71%
62.50%
59.38%	37.50%	3.13%
99.80%	64.53%	24.65%
Disclaimer: Please note that the statistical data is based on publicly available information, most of which is available in S&P products such as Capital IQ, Compustat Research Insight and S&P Index Alert. Analysis and projections are my own, and may differ from others within the S&P/McGraw-Hill organization. Nothing presented is intended to, or should be interpreted as, a buy/sell/hold recommendation. My notes vary in topics, but are all market related. The intent is to quickly inform. The assumption is that you don’t need a basic education, editorial or sales pitch, just specific facts and maybe some observations. If the information does not suit your needs, please e-mail me and I will take you off the list. Unless otherwise noted all data is for public dissemination, and may not be used for commercial purposes. Finally, any incoming correspondence from you will be considered confidential unless you specify otherwise.

$22.00 $23.00 $24.00 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00

S&P 500 Q4,’12 OPER EPS EST

$108.00 $110.00 $112.00 $114.00 $116.00 $118.00 $120.00

S&P 500 2013 OPER EPS EST

>Stock

Price

Data

2.0

/13

.42

93.1

.84

.95

/12

.89

.03

87.81

95.37

92.83

93.78

92.82

93.28

.94

92.6

92.59

92.83

93.21

92.3

92.4

91.7

89.6

87.16

87.31

86.73

.63

86.73

89.6

89.36

88.8

87.13

86.8

87.13

86.4

86.86

85.35

87.27

88.75

87.54

86.8

87.6

2/28/12

2/27/12

2/24/12

88.2

2/21/12

87.6

2/17/12

87.56

2/14/12 1350.5

2/13/12

88.03

2/10/12

88.02

2/7/12

2/6/12

87.56

2/3/12

86.71

1/30/12

1/27/12

1/26/12

1/23/12 1316

1/20/12

1/19/12

85.8

1/13/12

.09

1/12/12

84.3

1/9/12

1/6/12

1/5/12

83.8

.64

82.2

.73

82.2

80.3

81.87

79.3

.88

77.7

77.8

78.36

74.53

79.21

82.1

80.93

82.13

86.18

87.14

87.57

94.6

1343.8

93.02

92.8

93.43

91.03

92.59

1289

90.7

92.82

93.94

95.52

96.2

92.82

92.94

93.8

93.5

90.7

90.95

88.98

89.5

92.4

2/28/11

2/23/11 1307.4

2/22/11

2/16/11

2/15/11

2/14/11

91.9

91.8

90.46

2/9/11

90.78

2/8/11

2/7/11

88.79

2/2/11

2/1/11

1/28/11

87.44

89.57

1/25/11

88.5

1/21/11

88.04

1/18/11

1/14/11

88.1

88.04

1/11/11

1/10/11

1/7/11 1271.5

1/4/11

86.67

1/3/11

86.3

87.01

87.34

86.4

85.3

1240.4

86.94

.76

84.4

84.9

86.2

86.5

85.3

84.8

83.98

84.22

85.07

90.9

89.47

88.55

89.14

1178.1 89.14

88.25

88.9

86.7

86.71

87.04

84.95

84.58

84.63

82.75

81.87

.33

.36

.63

.54

84.01

84.1

88.03

87.41

86.34

86.8

.66

86.17

82.3

81.22

.25

81.22

78.55

78.9

78.18

.61

78.14

78.3

1064.88 76.1

78.34

80.7

82.54

84.68

85.97

84.24

88.67

87.97

87.44

86.05

85.7

85.27

83.9

83.76

83.94

83.49

1182.45

84.19

1178.1

84.28

80.93

81.61

1159.9

82.18

81.26

.61

2/23/10

2/22/10

2/17/10

2/16/10

2/10/10

.13

2/9/10

2/8/10

79.21

2/3/10

81.5

2/2/10

80.43

2/1/10

1/29/10

80.75

82.3

1/26/10

81.83

1/22/10

82.7

1/19/10

1/15/10

83.37

83.5

												Date	^GSPC	MMM
1/11/13	1	4		7		5			9	6	8
1/		10	147	2.	12	96.89
1/9/13	1461.02	96.41
1/8/13	1457.15	95.5
1/7/13	1461.89	95.49
1/4/13	1466.47		95.37
1/3/13	1459.37		94.6
1/2/13	14	62	94.78
12/31/12	1426.19				92
1	2/28/12	1402.43			9	1.7
1	2/27/12	1418.1		92.6
12/26/12	1419.83	93.07
1	2/24/12	1426.66		9	3.1
1	2/21/12	1430.15
12/20/12	1443.69	94.13
12/19/12	1435.				81		9	3.02
12/18/12	1446.	79		93.8
1	2/17/12	143	0.36	93.03
1	2/14/12	1413.58	92.28
1	2/13/12	1419.45	9		2.5
12/12/12	1428.48	93.12
12/11/12		1427	93.68
1	2/10/12	1418.55		91.8
1	2/7/12	1418.07	91.51
1	2/6/12	1413.94			90
12/5/12	1409.28			90.7
12/4/12	1407.05	90.12
1	2/3/12	1409.46	90.3
1	1/30/12	1416.18		90.9
11/	29	1415.95	90.65
11/28/12	1409.93	90.93
1	1/27/12	1398.94	90.31
1	1/26/12	1406.29	9			0.09
1	1/23/12	1409.15	90.28
11/21/12	13	91.03			88
1	1/20/12	13	87.81	89.02
1	1/19/12	13	86			89.5
11/16/12	1359.88		88.5
11/15/12	1353.33		88.02
11/14/12	1355.49		87.31
1	1/13/12	13	74.53	89.08
1	1/12/12	13	80	89.18
1	1/9/12	1379.	85		88.8
11/8/12	1377.51		88.55
11/7/12	1394.53	89.38
1	1/6/12	1428.39	90.86
1	1/5/12	1417.26			89.6
11/2/12	1414.2	88.97
11/1/12	1427.59	89.25
10/31/12	1412.16			87.6
10/26/12	141	1.9			88.03
10/25/12	1412.97
10/24/12	1408.75	88.39
10/23/12	1413.11	88.73
10/22/12	1433.82	92.53
10/19/12	1433.19		92.94
10/18/12	1457.34	94.74
10/17/12	1460.91	94.81
10/16/12	1454.92	94.23
10/15/12	1440.13	92.79
10/12/12	1428.59	92.75
10/11/12	1432.84			92.83
10/10/12	1432.	56		93.28
10/9/12	1441.48		93.94
10/8/12	1455.88
10/5/12	1460.93	94.96
10/4/12	1461.4	94.43
10/3/12	1450.99		93.78
10/2/12	144	5.7		93.5
10/1/12	1444.49	93.29
9/28/12	1440.67			92.4
9/27/12	1447.15				92.82
9/26/12	1433.32			92.59
9/25/12	1441.59
9/24/12	1456.89	93.73
9/21/12	1460.15		93.21
9/20/12	146	0.26	93.58
9/19/12	1461.05	93.63
9/18/12	1459.32		93.43
9/17/12	1461.19
9/14/12	1465.77	93.98
9/13/12	1459.99	92.06
9/12/12	1436.56	9	0.81
9/11/12	1433.56	91.17
9/10/12	1429.08	90.67
9/7/12	1437.92
9/6/12	1432.12
9/5/12	1403.44	9	1.75
9/4/12		1404	91.68
8/31/12	1406.58
8/30/12	1399.48	91.76
8/29/12	1410.49	92.43
8/28/12	1409.3		92.3
8/27/12	1410.44
8/24/12	1411.13
8/23/12	1402.08		91.9
	8/22/12	1413.49	92.68
8/21/12	1413.17
8/20/12	1418.13	93.89
8/17/12	1418.16	94.24
8/16/12	1415.51	93.74
8/15/12	1405.53	92.54
8/14/12	1403.93
8/13/12	1404.11
8/10/12	1405.87	92.29
8/9/12	1402.8	91.59
8/8/12	1402.22	91.63
8/7/12	1401.35
8/6/12	1394.23	91.41
8/3/12	1390.99
8/2/12	1365	90.08
8/1/12	1375.32	91.2
7/31/12	13	79.3	91.23
7/30/12	13			85.3	91.28
7/27/12	13	85.97	91.71
7/26/12	1360.02	9							0.5
7/25/12	1337.89		88.75
7/24/12	1338.31		88.2
7/23/12		1	350			89.36
7/20/12	1362.66	89.99
7/19/12	1376.51	90.83
7/18/12	1372.78	90.87
7/17/12	1363.67		88.98
7/16/12	1353.64		88.1
7/13/12	1356.78	87.59
7/12/12	1334.76			86.4
7/11/12	1341.45	87.85
7/10/12	1341.47		88.25
7/9/12	1352.46	88.96
7/6/12	1354.68	88.99
7/5/12	1367.58	89.57
7/3/12	1374.02	89.7
7/2/12	1365.51	89.28
6/29/12	1362.16
6/28/12	1329.04		87.16
6/27/12	1331.85
6/26/12	1319.99		86.18
6/25/12	1313.72		85.8
6/22/12	1335.02				86.8
6/21/12	1325.51				86.7
6/20/12	1355.69		87.54
6/19/12	1357.98	87.82
6/18/12	1344.78
6/15/12	1342.84			87.44
6/14/12	1329.1		86.86
6/13/12	1314.88	86.13
6/12/12	1324.18
6/11/12	1308.93	85.18
6/8/12	1325.66
6/7/12	1314.99	85.5
6/6/12	1315.13		84.63
6/5/12	1285.5	82.51
6/4/12	12	78.18	82.62
6/1/12	1278.04	82.85
5/31/12	131	0.33		84.4
5/30/12	1313.32	84.45
5/29/12	1332.42		85.7
5/25/12	1317.82	84.78
5/24/12	132	0.68		84.9
5/23/12	1318.86		84.8
5/22/12		1316		84.1
5/21/12	1315.99	84.46
5/18/12	1295.22		83.5
5/17/12	1304.86		84.3
	5/16/12	1324.8		85.35
5/15/12	1330.66	85.78
5/14/12	1338.35	85.83
5/11/12	1353.39
5/10/12	1357.99			87.13
5/9/12	1354.58		87.27
5/8/12	1363.72			87.56
5/7/12	1369.58	88.01
5/4/12	1369.1		88.67
5/3/12	1391.57	89.39
5/2/12	1402.31	89.52
5/1/12	1405.82
4/30/12	1397.91
4/27/12	1403.36
4/26/12	1399.98	89.32
4/25/12	1390.69
4/24/12	1371.97	88.49
4/23/12	1366.94
4/20/12	1378.53	87.48
4/19/12	1376.92
4/18/12	1385.14
4/17/12	13	9	0.78	87.45
4/16/12	1369.57
4/13/12	1370.26	85.69
4/12/12	13	87.57
4/11/12	1368.71
4/10/12	1358.59		84.58
4/9/12	13		82.2		86.3
4/5/12	1398.08
4/4/12	1398.96	87.84
4/3/12	1413.38		88.79
4/2/12	1419.04	89.23
3/30/12	1408.47	89.21
3/29/12	1403.28	88.77
3/28/12	1405.54	88.45
3/27/12	1412.52			89.14
3/26/12	1416.51	89.12
3/23/12	1397.11	88.46
3/22/12	1392.78	88.57
3/21/12	1402.89	88.91
3/20/12	1405.52	89.35
3/19/12	1409.75	89.74
3/16/12	1404.17	89.56
3/15/12	1402.6
3/14/12	1394.28	88.87
3/13/12	1395.95
3/12/12	1371.09
3/9/12	1370.87
3/8/12	1365.91			86.71
3/7/12	1352.63	85.47
3/6/12	1343.36		84.95
3/5/12	1364.33	87.06
3/2/12	1369.63	87.52
3/1/12	1374.09	87.49
2/29/12	1365.68
1372.18	87.77
1367.59	88.07
1365.74
2/23/12	1363.46	87.9
2/22/12	1357.66	87.76
1362.21
1361.23
2/16/12	1358.04	87.65
	2/15/12	1343.23		87.01
87.99
1351.77
1342.64		87.14
2/9/12	1351.95
2/8/12	1349.96		87.97
1347.05	87.89
1344.33
1344.9	87.73
2/2/12	1325.54	87.43
2/1/12	1324.09	87.35
1/31/12	1312.41
1313.01		87.34
1316.33	87.46
1318.43	87.58
1/25/12	1326.06	86.48
1/24/12	1314.65	85.93
85.61
1315.38	85.65
1314.5
1/18/12	1308.04		85.07
1/17/12	1293.67	84.23
	1289	83.6
1295.5		84.28
1/11/12	1292.48	83.77
1/10/12	1292.08
12	80.7		83.8
12	77.8		83.37
1281.06
1/4/12	1277.3	84.18
1/3/12	1277.06		83.49
12/30/11		1257	81.73
12/29/11	1263.02		82.1
1	2/28/11		1249	81.15
12/27/11	1265.43	82.28
1	2/23/11	1265.33
1	2/22/11	1254	80.97
12/21/11	1243.72
12/20/11	1241.3		80.3
12/19/11	1205.35	77.82
1		2/16/11	1219.66	78.87
1	2/15/11	1215.75	78.86
1	2/14/11	1211.82	78.51
12/13/11			1225	79.41
12/12/11	1236.47	80.59
1	2/9/11	1255.19
1	2/8/11	1234.35	80.46
1	2/7/11	1261.01			82.3
12/6/11	1258.47		82.13
12/5/11	1257.08			80.93
1	2/2/11	1244.28	79.76
1	2/1/11	1244.58
11/30/11	1246.96	81.04
11/29/11	1195.19	77.24
1	1/28/11	1192.55		77.7
1	1/25/11	1158.67		76.1
11/23/11	1161.79	75.54
	11/22/11	11		88.04	77.83
1	1/21/11	1192.98		78.3
1	1/18/11	1215.65	80.54
11/17/11	1216.13		80.43
11/16/11	1236.91				8	1.87
11/15/11	1257.81
1	1/14/11	1251.78
1	1/11/11	1263.85	82.29
1	1/10/11	1239.7	80.32
11/9/11	1229.1
11/8/11	1275.92		81.83
1	1/7/11	1261.12	79.69
1	1/4/11	1253.23
1	1/3/11	1261.15	79.64
11/2/11	1237.9	78.06
11/1/11	1218.28	76.53
10/31/11	1253.3	79.02
10/28/11	1285.09
10/27/11	1284.59	81.41
10/26/11	1242	77.02
10/25/11	1229.05	77.04
10/24/11	1254.19		82.18
10/21/11	1238.25	80.48
10/20/11	1215.39	78.68
10/19/11		1209
10/18/11	1225.38		78.36
10/17/11	1200.86	75.88
10/14/11	1224.58	78.89
10/13/11	1203.66
10/12/11	1207.25
10/11/11	1195.54	76.42
10/10/11	1194.89	76.72
10/7/11	1155.46	73.82
10/6/11	1164.97	74.65
10/5/11	1144.03	72.53
10/4/11	1123.95	72.01
10/3/11	1099.23	70.93
9/30/11	1131.42	71.79
9/29/11	1160.4
9/28/11	1151.06	73.6
9/27/11	1175.38	76.28
9/26/11	1162.95	75.19
9/23/11	1136.43	73.99
9/22/11	1129.56	72.9
9/21/11	1166.76	76.34
9/20/11	1202.09			79.21
9/19/11	1204.09
9/16/11	1216.01	80.53
9/15/11	1209.11	80.63
9/14/11	1188.68	79.44
9/13/11	1172.87	77.81
9/12/11	1162.27	78.22
9/9/11	1154.23	76.65
9/8/11	1185.9	79.26
9/7/11	1198.62	80.57
9/6/11	1165.24	78.08
9/2/11	1173.97	79.35
9/1/11	1204.42		81.61
8/31/11	1218.89	82.98
8/30/11	1212.92	82.07
8/29/11	1210.08
8/26/11	1176.8	8	0.01
8/25/11	1159.27	78.19
8/24/11	1177.6	80.29
8/23/11	1162.35	79.67
8/22/11	1123.82	76.95
8/19/11	1123.53	76.87
8/18/11	1140.65	77.42
	8/17/11	1193.89
8/16/11	1192.76
8/15/11	1204.49	83.31
8/12/11	1178.81		82.54
8/11/11	1172.64			81.22
8/10/11	112	0.76	78.23
8/9/11	1172.53	82.69
8/8/11	1119.46	78.59
8/5/11	1199.38			82.7
8/4/11	120	0.07	82.23
8/3/11	1260.34
8/2/11	1254.05		85.27
8/1/11	12	86.94	86.77
7/29/11	1292.28
7/28/11	1300.67
7/27/11	1304.89	88.08
7/26/11	1331.94	89.93
7/25/11	1337.43	95.07
7/22/11	1345.02	95.38
7/21/11		1343.8	95.84
7/20/11	1325.84	94.25
7/19/11	1326.73	94.27
7/18/11	1305.44
7/15/11	1316.14	95.47
7/14/11	1308.87	94.98
7/13/11	1317.72	96.19
7/12/11	1313.64	95.88
7/11/11	1319.49	96.56
7/8/11	97.62
7/7/11	1353.22	97.97
7/6/11	1339.22	97.24
7/5/11	1337.88	96.14
7/1/11	1339.67	96.67
6/30/11	1320.64	94.85
6/29/11		1307.4	93.11
6/28/11	1296.67
6/27/11	1280.1	92.25
6/24/11	1268.45	90.89
6/23/11	1283.5	92.34
6/22/11	1287.14
6/21/11	12	95.52
6/20/11	1278.36	92.56
6/17/11		1271.5	91.78
6/16/11	1267.64	91.58
6/15/11	1265.42
6/14/11	1287.87
6/13/11	1271.83	91.3
6/10/11	1270.98	90.73
6/9/11	91.96
6/8/11	1279.56	90.91
6/7/11	1284.94	90.85
6/6/11	12	86.17	90.62
6/3/11	1300.16
6/2/11	1312.94	91.46
6/1/11	1314.55	91.44
5/31/11	1345.2	9	4.38
5/27/11	1331.1	93.47
5/26/11	1325.69
5/25/11	1320.47	92.69
5/24/11	1316.28	91.97
5/23/11	1317.37	92.49
5/20/11	1333.27	93.56
5/19/11	1343.6	94.71
	5/18/11	1340.68
5/17/11	1328.98	93.86
5/16/11	1329.47	95.46
5/13/11	1337.77	96.01
5/12/11	1348.65	96.65
5/11/11	1342.08
5/10/11	1357.16	95.71
5/9/11	1346.29	95.99
5/6/11	1340.2	95.6
5/5/11	1335.1	94.92
5/4/11	1347.32
5/3/11	1356.62	96.83
5/2/11	1361.22	96.92
4/29/11	1363.61	97.21
4/28/11	1360.48	97.23
4/27/11	1355.66	96.47
4/26/11	1347.24	95.94
4/25/11	1335.25	94.12
4/21/11	1337.38	93.92
4/20/11	1330.36	93.76
4/19/11	1312.62	91.86
4/18/11	1305.14	91.45
4/15/11	1319.68
4/14/11	1314.52
4/13/11	1314.41	9	2.86
4/12/11	1314.16	92.37
4/11/11	1324.46
4/8/11	1328.17	93.22
4/7/11	1333.51	93.19
4/6/11	1335.54	93.82
4/5/11	1332.63	93.39
4/4/11	1332.87	93.64
4/1/11	1332.41	93.13
3/31/11	1325.83
3/30/11	1328.26	92.47
3/29/11	1319.44	92.84
3/28/11	1310.19	92.12
3/25/11	1313.8	92.27
3/24/11	1309.66	92.58
3/23/11	12	97.5	92.14
3/22/11	1293.77
3/21/11	1298.38
3/18/11	1279.21
3/17/11	1273.72	88.69
3/16/11	1256.88	87.55
3/15/11	1281.87
3/14/11	1296.39	91.02
3/11/11	1304.28	91.61
3/10/11	1295.11	90.01
3/9/11	1320.02	93.17
3/8/11	1321.82	93.75
3/7/11	1310.13
3/4/11	1321.15	92.19
3/3/11	1330.97	92.81
3/2/11	1308.44	91.32
3/1/11	1306.33		90.46
1327.22	92.23
2/25/11	1319.88	9	0.25
2/24/11	1306.1	90.03
90.26
1315.44
2/18/11	1343.01	92.96
2/17/11	1340.43	92.73
1336.32	92.33
1328.01
1332.32
2/11/11	1329.15
2/10/11	1321.87
1320.88
1324.57		89.47
1319.05
2/4/11	1310.87	88.29
2/3/11	1307.1	87.95
1304.03	87.75
1307.59	87.79
1/31/11	1286.12	87.92
1276.34
1/27/11	1299.54	89.19
1/26/11	1296.63
1291.18
1/24/11	1290.84	90.32
1283.35	89.29
1/20/11	1280.26
1/19/11	1281.92	87.96
1295.02	88.14
1293.24
1/13/11	12	83.76
1/12/11	1285.96	88.66
1274.48	87.74
1269.75	87.15
	86.2
1/6/11	1273.85	86.14
1/5/11	1276.56		86.67
1270.2
1271.87	86.79
12/31/10	1257.64
12/30/10	1257.88		86.5
12/29/10	1259.78	86.76
12/28/10	1258.51	86.74
12/27/10	1257.54
1	2/23/10	1256.77	86.47
1	2/22/10	1258.84	86.72
12/21/10	1254.6	86.53
12/20/10	1247.08
1		2/17/10	1243.91	86.37
1	2/16/10	1242.87
12/15/10	1235.23	85.81
12/14/10	1241.59	85.84
12/13/10		1240.4
1	2/10/10	84.32
1	2/9/10	1233	84.11
1	2/8/10	1228.28			84.68
12/7/10	1223.75		84.19
12/6/10	1223.12	86.88
1	2/3/10	1224.71
1	2/2/10	1221.53	86.51
1	2/1/10	1206.07		86.05
11/30/10	118				0.55			83.9
1	1/29/10		1187		84.22
1	1/26/10	1189.4
11/24/10	1198.35	84.66
11/23/10	1180.73	83.59
1	1/22/10	1197.84
1	1/19/10	1199.73	85.01
11/18/10	1196.69	85.55
	11/17/10	1178.59	83.95
11/16/10	11	78.34		84.24
1	1/15/10	1197.75
11/12/10	1199.21	86.24
11/11/10	1213.54
11/10/10	1218.71	86.25
11/9/10	1213.4
11/8/10	1223.25	85.86
11/5/10	1225.85		86.34
11/4/10	1221.06		87.04
11/3/10	1197.96
11/2/10	1193.57
11/1/10	1184.38
10/29/10	1183.26
10/28/10	1183.78
10/27/10		1182.45	9	0.37
10/26/10	1185.64	90.47
10/25/10	1185.62
10/22/10	1183.08	90.44
10/21/10	1180.26	90.55
10/20/10			1178.1
10/19/10	1165.9
10/18/10	1184.71	89.66
10/15/10	1176.19
10/14/10	1173.81	89.07
10/13/10
10/12/10	1169.77	88.15
10/11/10	1165.32
10/8/10	1165.15	89.16
10/7/10	1158.06
10/6/10		1159.9	89.89
10/5/10	116	0.75	88.86
10/4/10	1137.03
10/1/10	1146.24	87.62
9/30/10	1141.2
9/29/10	1144.73	87.17
9/28/10	1147.7
9/27/10	1142.16	86.19
9/24/10	1148.67	86.96
9/23/10	1124.83	85.53
9/22/10	1134.28	86.63
9/21/10	1139.78	86.55
9/20/10	1142.71		87.41
9/17/10	1125.59	86.07
9/16/10	1124.66
9/15/10	1125.07
9/14/10	1121.1
9/13/10	1121.9	84.86
9/10/10	1109.55		83.94
9/9/10	1104.18	82.96
9/8/10	1098.87
9/7/10	109	1.84	82.14
9/3/10	1104.51	83.48
9/2/10	1090.1
9/1/10	1080.29	81.01
8/31/10	1049.33		78.55
8/30/10	1048.92	79.65
8/27/10	1064.59
8/26/10	1047.22	79.78
8/25/10		1055		80.75
8/24/10	1051.87	80.45
8/23/10		1067	81.08
8/20/10	1071.69	80.66
8/19/10			1075	81.81
	8/18/10	1094.16	83.61
8/17/10		1092	84.09
8/16/10	1079.38	83.43
8/13/10	1079.25		84.01
8/12/10	1083.61
8/11/10	1089.47
8/10/10	1121.06	87.11
8/9/10	1127.79
8/6/10	1121.64	87.29
8/5/10	1125.81	87.72
8/4/10	1127.24
8/3/10	1120.46	87.21
8/2/10	1125.86
7/30/10	1101.6	85.54
7/29/10	1101.53
7/28/10	1106.13	86.69
7/27/10	1113.84
7/26/10	1115.01	87.32
7/23/10			1102
7/22/10	1093.67	84.75
7/21/10	1069.59
7/20/10	1083.48	82.19
7/19/10	107		1.25
7/16/10		1064.88	80.95
7/15/10	1096.48	83.06
7/14/10	1095.17	83.05
7/13/10	1095.34	83.55
7/12/10	1078.75	82.26
7/9/10	1077.96	82.16
7/8/10		1070
7/7/10	1060.27	80.52
7/6/10	1028.06		78.14
7/2/10	1022.58	77.67
7/1/10	1027.37
6/30/10	1030.71		78.9
6/29/10	1041.24	78.49
6/28/10	1074.57	78.98
6/25/10	1076.76
6/24/10	1073.69
6/23/10	1092.04	80.12
6/22/10	1095.31	80.03
6/21/10	1113.2	81.47
6/18/10	1117.51	81.18
6/17/10	1116.04	81.03
6/16/10		1114	80.88
6/15/10	1115.23	79.77
6/14/10	1089.63
6/11/10		1091
6/10/10	1086.84	77.43
6/9/10	1055.69	74.79
6/8/10	1062	74.92
6/7/10	1050.47	74.74
6/4/10
6/3/10	1102.83
6/2/10	1098.38	78.74
6/1/10	1070.71	78.07
5/28/10	1089.41	79.31
5/27/10	1103.06	81.43
5/26/10	1067.95	79.17
5/25/10	1074.03	79.47
5/24/10	1073.65	79.59
5/21/10	1087.69
5/20/10	1071.59	79.58
	5/19/10	1115.05
5/18/10	1120.8	84.02
5/17/10	1136.94
5/14/10	1135.68
5/13/10	1157.44	85.59
5/12/10	1171.67	86.44
5/11/10	1155.79	85.04
5/10/10	1159.73
5/7/10	1110.88	82.63
5/6/10	1128.15
5/5/10	1165.87	86.59
5/4/10	1173.6	87.68
5/3/10	1202.26	89.81
4/30/10	1186.69
4/29/10	1206.78	89.33
4/28/10	1191.36	88.24
4/27/10	1183.71
4/26/10	1212.05
4/23/10	1217.28	86.58
4/22/10	1208.67
4/21/10	1205.94
4/20/10	1207.17
4/19/10	1197.52
4/16/10	1192.13
4/15/10	1211.67
4/14/10	1210.65	84.39
4/13/10	1197.3
4/12/10	1196.48	83.28
4/9/10	1194.37
4/8/10	1186.44	82.95
4/7/10	83.66
4/6/10	1189.44	84.35
4/5/10	1187.44
4/1/10	83.85
3/31/10	1169.43	83.57
3/30/10	1173.27
3/29/10	1173.22	81.36
3/26/10	1166.59
3/25/10	1165.73
3/24/10	1167.72
3/23/10	1174.17	82.35
3/22/10	1165.81	81.84
3/19/10	81.96
3/18/10	1165.83	83.67
3/17/10	1166.21
3/16/10	1159.46	81.66
3/15/10	115				0.51		81.26
3/12/10	1149.99	8	1.38
3/11/10	115	0.24
3/10/10			1145		81.5
3/9/10	1140.45	81.99
3/8/10	1138.5	81.31
3/5/10	1138.7	82.44
3/4/10	1122.97	81.02
3/3/10	1118.79
3/2/10	1118.31	81.13
3/1/10	1115.71	80.58
2/26/10	1104.49	80.15
2/25/10	1102.94	79.74
2/24/10	1105.24	80.07
1094.6	79.71
1	108.01	80.68
2/19/10	1109.17	81.52
2/18/10	1106.75	81.11
1099.51	80.14
1094.87	80.47
2/12/10	1075.51	79.18
2/11/10	1078.47	80.27
	1068	78.62
1070.52	78.72
1056.74	77.53
2/5/10	1066.19	78.54
2/4/10	1063.11
1097.28
1103.32
1089.19	80.44
1073.87	80.49
1/28/10	1084.53
1/27/10	1097.5
1092.17	81.63
1/25/10	1096.78
1091.76	81.48
1/21/10	1116.48
1/20/10	1138.04	84.72
115	0.23	85.12
1136.03
1/14/10	1148.46

Dividend Data

Date

0.59

8/22/12 0.59
5/16/12 0.59
2/15/12 0.59
11/22/11 0.55
8/17/11 0.55
5/18/11 0.55
2/16/11 0.55
11/17/10

8/18/10 0.525
5/19/10 0.525
2/17/10 0.525

0.51

0.5

Dividends
11/20/12
			0.525
11/18/09
8/19/09
5/20/09
2/18/09
11/19/08
8/20/08
5/21/08
2/20/08

Balance Sheet

Sep

– – –

– – – –

Long Term Debt

– – – –

Preferred Stock – – – –

9,000 9,000 9,000 9,000

MMM Balance Sheet
	Period Ending	29								–	-1	29-Jun-12	30-Mar-12	30-Dec-11
Assets
Current Assets
Cash And Cash Equivalents	3,02				9,000	3,308,000	2,332,000	2,	219,000
Short Term Investments	1,989,000	1,595,000	1,399,000	1,461,000
Net Receivables	4,409,000	4,364,000	4,323,000	3,867,000
Inventory	3,842,000	3,656,000	3,561,000	3,416,000
Other Current Assets	1,225,000	1,165,000	1,2	38,000	1,277,000
Total Current Assets	14,494,000	14,088,000	12,853,000	12,240,000
Long Term Investments	1,542,000	1,183,000	923,000	1,051,000
Property Plant and Equipment	7,9	39,000	7,706,000	7,755,000	7,666,000
Goodwill	7,216,000	7,069,000	7,090,000	7,047,000
Intangible Assets	1,847,000	1,842,000	1,865,000	1,916,000
Accumulated Amortization															–
Other Assets	1,441,000	1,451,000	1,529,000	1,696,000
Deferred Long Term Asset Charges
Total Assets	34,479,000	33,339,000	32,015,000	31,616,000
Liabilities
Current Liabilities
Accounts Payable	2,790,000	2,825,000	2,675,000	2,674,000
Short/Current	Long Term Debt	1,506,000	650,000	664,000	682,000
Other Current Liabilities	2,299,000	2,232,000	2,069,000	2,085,000
Total Current Liabilities	6,595,000	5,707,000	5,408,000	5,441,000
4,852,000	5,657,000	4,510,000	4,484,000
Other Liabilities	4,891,000	5,102,000	5,478,000	5,829,000
Deferred Long Term Liability Charges
	Minority Interest	497,000	467,000	4	37,000	442,000
Negative Goodwill
Total Liabilities	16,835,000	16,933,000	15,833,000	16,196,000
Stockholders’ Equity
Misc Stocks Options Warrants
Redeemable	Preferred Stock
Common Stock
Retained Earnings	30,150,000	29,465,000	28,858,000	28,348,000
Treasury Stock	-11,965,000	-12,010,000	-11,794,000	-11,679,000
Capital Surplus	3,998,000	3,954,000	3,894,000	3,767,000
Other Stockholder Equity	-4,548,000	-5,012,000	-4,785,000	-5,025,000
Total Stockholder Equity	17,644,000	16,406,000	16,182,000	15,420,000
Net Tangible Assets	8,581,000	7,495,000	7,227,000	6,457,000

Income Statements

Period Ending

n Recurring

– – –

39,000 38,000 37,000

219,000

Minority Interest

From Continuing Ops

– – –

Net Income 4,283,000 4,085,000 3,193,000

– – –

4,283,000 4,085,000 3,193,000

31-Dec-11	31-Dec-10	31-Dec-09
Total Revenue	29,611,000	26,662,000	23,123,000
Cost of Revenue	15,693,000	13,831,000	12,109,000
Gross Profit	13,918,000	12,831,000	11,014,000
Operating Expenses
Research Development	1,570,000	1,434,000	1,293,000
Selling General and Administrative	6,170,000	5,479,000	4,907,000
					No
Others
Total Operating Expenses
Operating Income or Loss	6,178,000	5,918,000	4,814,000
Income from Continuing Operations
Total Other Income/Expenses Net
Earnings Before Interest And Taxes	6,217,000	5,956,000	4,851,000
Interest Expense	186,000	201,000
Income Before Tax	6,031,000	5,755,000	4,632,000
Income Tax Expense	1,674,000	1,592,000	1,388,000
-74,000	-78,000	-51,000
	Net Income			4,283,000		4,085,000	3,193,000
Non-recurring Events
Discontinued Operations
Extraordinary Items
Effect Of Accounting Changes
Other Items
Preferred Stock And Other Adjustments
Net Income Applicable To Common Shares

Bond Data

terday

0.04 0.04 0.01

0.09 0.09 0.09 0.07

0.24 0.25 0.26 0.23

0.36 0.37

0.33

0.76 0.78 0.81 0.68

1.84 1.87 1.9 1.7

3.02

3.1 2.86

Min=&CouponMax=&MaturityMin=&MaturityMax=

Coupon Maturity

Price Yield

MEDIUM TERM NTS BOOK ENTRY

4.38

–

3M CO 1.38

No Aa2 AA- –

MEDIUM TERM NTS B

–

No Aa2 AA- –

– 29

MINNESOTA MNG & MFG CO

Yes Aa2 AA- –

350

5.7

Yes Aa2 AA- –

MINNESOTA MNG & MFG CO –

No – – – 100 – 747

MINNESOTA MNG & MFG CO –

No Aa2 – – 97.5 – 56

–

No Aa2 AA- –

– 100

3M CO MEDIUM TERM NTS BOOK ENTRY 2.12

Yes – AA- – 100 – 62

http://finance.yahoo.com/bonds

US Treasury Bonds 1/14/2013

Maturity

Yield

Yes

Last Week

Last Month

3 Month

0.04

6 Month

2 Year

3 Year

0.38

5 Year

10 Year

30 Year

3.04

http://cxa.gtm.idmanagedsolutions.com/finra/BondCenter/QuickScreener.aspx?ShowResult=true&BondType=Corporate&Symbol=MMM&YieldMin=&YieldMax=&

Coupon

Ratings

Last Sale

Include in

Watchlist

Bond Symbol

Issuer Name

Callable

Moody’s

S&P

Fitch

Par outstanding (millions)

MMM.GR

3M CO

8/15/13

Aa2

AA-

102.267

0.441

849

MMM.GT

9/29/16

102.213

0.767

100

MMM.GD

MINNESOTA MNG & MFG CO

9/30/27

98.75

MMM.GB

6.38

2/15/28

146.25

2.639

MMM.GP

3M CO MEDIUM TERM NTS BOOK ENTRY

3/15/37

135.201

3.523

747

MMM.GA

5/22/37

MMM.GC

12/21/40

MMM.GH

MINNESOTA MNG & MFG CO MEDIUM TERM NTS B

12/21/41

99.75

MMM.GN

12/15/44

http://www.moodys.com/credit-ratings/3M-Company-credit-rating-496500

Long Term Rating

Aa2, Not on Watch

ST Issuer Level Rating

P-1, Not on Watch

Outlook

Stable

TIPS data

is tied to the Consumer Price Index (CPI) . The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. TIPS pay interest every six months. Figures after periods in bid and ask quotes represent 32nds; 101.26 means 101 26/32, or 101.8125% of 100% face value; 99.01 means 99 1/32, or 99.03125% of face value.

Maturity Coupon

principal

1092

1257

-1

1249

1.25 103.09 103.1 unch.

1091

-1

1225

-1

1209

0.5

-1

1.875

unch.

1187

-2 -1.595

-2

2.5

-2

1145

0.125

-2

1114

1.625

-1

1102

unch.

1070

1075

1.875

1.375

1067

1.25

1055

0.625

0.125

0.125 108.01

2.375

1225

1163

2.375

1145

1.75

1102

1427

2.5

1075

1404

2.125

1068

2.125

0.75 108.06

10 0.435

Friday, January 11, 2013
Treasury Inflation-Protected Securities, or TIPS, are securities whose	principal
Bid	Asked	Chg	Yield*	Accrued
2013 Apr 15		0.625	100.01	100.02				unch.	0.435
2013 Jul 15			1.875	101.23	101.24					-2	-1.558
2014 Jan 15		103.09		103.1	-1.266
2014 Apr 15	-1.356
2014 Jul 15	105.22	105.23	-1.74
2015 Jan 15		1.625	106.18	106.19		-1.595
2015 Apr 15	104.2	104.21	-1.532	1065
2015 Jul 15	109.11	109.12	-1.772
2016 Jan 15	111.02	111.03		1163
2016 Apr 15				0.125	105.16	105.18	-1.537	1046
2016 Jul 15	115.04	115.06	-1.689	1143
2017 Jan 15			2.375	116.08	116.1	-3	-1.562
2017 Apr 15	107.06	107.08	-1.52	1016
2017 Jul 15	2.625	119.29	119.31	-1.633
2018 Jan 15	115.32	116.02	-1.461
2018 Jul 15		1.375	116.15	116.18	-1.499
2019 Jan 15			2.125	121.15	121.18	-1.316
2019 Jul 15	121.21	121.24	-1.318	1081
2020 Jan 15	118.12	118.16	-1.154
2020 Jul 15	118.14	118.18	-1.115	1058
2021 Jan 15	1.125	117.03	117.07	-0.942
2021 Jul 15	113.09	113.14	-0.891	1024
2022 Jan 15	108.04	108.08	-0.76	1020
2022 Jul 15		108.06	-0.707	1004
2025 Jan 15	134.04	134.1	-0.411
2026 Jan 15	130.09	130.16	-0.298
2027 Jan 15	136.26	137.02	-0.228
2028 Jan 15	128.14	128.22	-0.141
2028 Apr 15	3.625	157.09	157.18	-0.115
2029 Jan 15	141.09	141.18	-0.08
2029 Apr 15	3.875	164.11	164.21	-0.078
2032 Apr 15	3.375	163.05	163.17	0.057	1301
2040 Feb 15	144.32	145.15	0.362
2041 Feb 15	146.02	146.18	0.377	1054
2042 Feb 15	108.19	1021

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Finantial WACC

ISSUES

SECTOR EPS

QUARTE RL Y DATA

SALES

COMMENTARY AND LINKS

Dividend Data

Balance Sheet

Income Statements

Bond Data

TIPS data

QUARTE
RL
Y DATA