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GIS » Topics » Corporate Unallocated Expense

This excerpt taken from the GIS 10-Q filed Jan 5, 2007.

Corporate Unallocated Expense

Corporate unallocated expense increased from $2 million in the second quarter of fiscal 2006 to $40 million in the second quarter of fiscal 2007, primarily the result of a $17 million increase in stock compensation costs ($12 million associated with the adoption of SFAS 123R).

In the first twenty-six weeks of fiscal 2007, corporate unallocated expense was $83 million, an increase of $44 million from the same period a year ago. The increase is primarily the result of increased stock compensation costs of $59 million ($52 million associated with the adoption of SFAS 123R) offset by variances in actual administrative and employee benefit costs versus the amount we allocate to our operations.

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