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MRO » Topics » Corporate Matters

This excerpt taken from the MRO 10-K filed Mar 10, 2005.

Corporate Matters

        In 2004, as part of ongoing business transformation programs, we implemented two outsourcing agreements to achieve further business process improvements and cost reductions. It is anticipated that these programs will result in total pretax charges of approximately $70 million. Of these charges, $24 million was recorded in 2003 and $43 million was recorded in 2004, including net settlement and curtailment gains of $10 million in 2003 and losses of $20 million in 2004, on employee benefit plans. Projected savings from the business transformation programs are expected to benefit all business segments.

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