2007 Low High
($MM)
Estimated Cash Available for Dividends/Repurchases* $ 400 $ 550
Estimated Net Cash Used in Investing Activiites 3,320 3,020
Less: Estimated Change in Net Debt and Preferred, and
Preferred Dividends 1,080 980
Estimated Net Cash Provided by Operating Activities $2,540 $2,590
2008 Low High
Estimated Cash Available for Dividends/Repurchases* $ (50) $ 100
Estimated Net Cash Used in Investing Activiites 3,330 3,130
Less: Estimated Change in Net Debt and Preferred, and
Preferred Dividends 690 590
Estimated Net Cash Provided by Operating Activities $2,590 $2,640
* Cash available for dividends/repurchases is a non-GAAP measure. This non-GAAP measure is used
because it allows investors to consider the amount of cash generated by operations and available after
investing activities and debt service to pay dividends, as well as fund stock repurchases, if any.
