Accounting Book Value to Adjusted Book Value (Invested Capital) Reconciliation

Total Shareholders' Equity (Accounting Book Value)

+ Short-Term Debt and Long-Term Debt

- Total Reported Operating Lease Assets Less Operating Lease Liabilities

+ Off-Balance-Sheet Operating Leases

+ Total Non-Current Other Liabilities Less Reported Deferred Tax Liabilities

+ Total Reserves

+ Accumulated Goodwill Amortization

+ Accumulated Asset Write-Downs After-Tax

+ Accumulated Unrecorded Goodwill

- Unconsolidated Subsidiary Assets (non-operating)

- Net Assets from Discontinued Operations

- Total Reported Deferred Tax Assets Less Deferred Tax Liabilities

- Hidden Deferred Tax Assets Less Deferred Tax Liabilities

- Total Reported Deferred Compensation Assets Less Deferred Compensation Liabilities

- Hidden Deferred Compensation Assets Less Deferred Compensation Liabilities

- Excess Cash

- Over Funded Pensions

- Accumulated OCI (Other Comprehensive Income), Including Quarterly Estimates

= Adjusted Book Value (Invested Capital)