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GIS » Topics » Ongoing joint ventures:

This excerpt taken from the GIS 8-K filed Jan 16, 2007.

Ongoing joint ventures:

Our interest in SVE was redeemed in February 2005. To view the performance of our joint ventures on an ongoing basis, we have provided certain information excluding SVE.

In Millions, Fiscal Year     2006     2005     2004     2003  
After-tax earnings from joint ventures:                            
As reported       $ 69     $ 94     $ 79     $ 65  
Less: SVE         –       (28 )     (26 )     (21 )
Ongoing joint ventures       $ 69     $ 66     $ 53     $ 44  
Net sales of joint ventures (100% basis):                            
As reported       $ 1,796     $ 2,652     $ 2,625     $ 2,159  
Less: SVE         –       (896 )     (1,055 )     (870 )
Ongoing joint ventures       $ 1,796     $ 1,756     $ 1,570     $ 1,289  
Fiscal Year       2006 vs.
2005 		      2005 vs.
2004 		      2004 vs.
2003 		       
Change in net sales of joint ventures (100% basis):      
As reported         –32 %     +1 %     +22 %      
Ongoing joint ventures         +2 %     +12 %     +22 %      

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