Three Months Ended

Nine Months Ended

September 30

September 30

1998

1997

1998

1997

$

1,143.1

$

1,113.4

Net Sales

$

3,465.3

$

3,512.8

Costs and Expenses:

988.4

971.8

Cost of sales

2,954.2

3,077.7

63.4

56.4

Depreciation and amortization

186.6

173.7

32.2

26.7

Selling, administration and general expense

86.2

79.6

Estimated (gain) loss on exiting businesses

35.0

(135.0)

1,084.0

1,054.9

Total Costs and Expenses

3,262.0

3,196.0

59.1

58.5

Income from Operations

203.3

316.8

Financing Income (Expense):

(15.7)

(11.6)

Interest and other financing costs

(39.4)

(35.5)

1.5

2.2

Interest and other income

8.4

5.7

44.9

49.1

Income before Income Taxes

172.3

287.0

(7.8)

(8.5)

Provision for Income Taxes

(29.0)

(48.0)

37.1

40.6

Net Income

143.3

239.0

10.3

10.4

Dividends on Preferred and Preference Stock

31.3

31.2

$

26.8

$

30.2

$

112.0

$

207.8

Net Income per Common Share:

$

0.21

$

0.27

Basic

$

0.93

$

1.85

$

0.21

$

0.26

Diluted

$

0.92

$

1.75

128.9

112.6

Average Basic Shares Outstanding

120.3

112.3

Additional Data

2,172

2,184

Steel products shipped (thousands of net tons)

6,750

6,641

2,636

2,417

Raw steel produced (thousands of net tons)

7,675

7,196