The European Transformation Plan should be completed by mid-year 2012 and is expected to result in cumulative restructuring charges totaling between $40 million and $45 million, substantially all of which are employee-related cash costs, including severance, retirement, and other termination benefits and relocation costs.   The Company also expects to incur an additional $50 million to $55 million of selling, general and administrative expenses to implement the European Transformation Plan, of which approximately $15 million are expected to be incurred in 2010.   The Company expects to realize annual savings of $50 million to $60 million (net of tax) upon completion of the implementation of the European Transformation Plan.

The press release contains a non-GAAP financial measure. For purposes of Securities and Exchange Commission Regulation G, a "non-GAAP financial measure" is a numerical measure of a registrant's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, balance sheet or statement of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Pursuant to the requirements of Regulation G, the Company has provided, as a part of the press release, a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure.

The Company's management believes that normalized earnings per share, which excludes restructuring charges and one-time events such as tax benefits and certain other items, is useful to investors because it permits investors to better understand year-over-year changes in underlying operating performance. Another purpose for which the Company uses normalized earnings per share is as a performance goal to help determine the amount, if any, of cash bonuses for corporate management and other employees under the Company's management cash bonus plan.

While the Company believes that this non-GAAP financial measure is useful in evaluating the Company's performance, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, this non-GAAP financial measure may differ from similar measures presented by other companies.