Yellow (YELLQ) 8-K/A Financial statements and exhibits

Exhibit 99.3

Roadway Corporation and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

	March 29, 2003		December 31, 2002
	(in thousands, except share data)
Assets
Current assets:
Cash and cash equivalents	$	117,151	$	106,929
Accounts receivable, including retained interest in securitized receivables, net		217,610		230,216
Assets of discontinued operations		—		87,431
Other current assets		55,018		38,496
Total current assets		389,779		463,072
Carrier operating property, at cost		1,512,028		1,515,648
Less allowance for depreciation		1,007,788		1,006,465
Net carrier operating property		504,240		509,183
Goodwill, net		284,598		283,910
Other assets		90,157		79,708
Total assets	$	1,268,774	$	1,335,873
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable	$	187,457	$	193,501
Salaries and wages		126,680		151,464
Liabilities of discontinued operations		—		32,407
Other current liabilities		60,743		83,518
Total current liabilities		374,880		460,890
Long-term liabilities:
Casualty claims and other		77,467		78,548
Accrued pension and retiree medical		140,960		135,053
Long-term debt		273,513		273,513
Total long-term liabilities		491,940		487,114
Shareholders’ equity:
Common Stock - $.01 par value Authorized - 100,000,000 shares Issued - 20,556,714 shares		206		206
Other shareholders’ equity		401,748		387,663
Total shareholders’ equity		401,954		387,869
Total liabilities and shareholders’ equity	$	1,268,774	$	1,335,873

The number of shares of common stock outstanding at March 29, 2003 and December 31, 2002 were 19,653,213 and 19,368,590, respectively.

Note: The balance sheet at December 31, 2002 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. See notes to condensed consolidated financial statements.

1

Roadway Corporation and Subsidiaries

Condensed Statements of Consolidated Income (Unaudited)

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003			March 23, 2002
	(in thousands, except per share data)
Revenue	$	754,070		$	598,967
Operating expenses:
Salaries, wages and benefits		475,435			399,164
Operating supplies and expenses		130,412			99,209
Purchased transportation		74,784			51,509
Operating taxes and licenses		19,866			15,564
Insurance and claims expense		15,112			11,431
Provision for depreciation		17,299			18,088
Net loss on disposal of operating property		811			295
Total operating expenses		733,719			595,260
Operating income from continuing operations		20,351			3,707
Other (expense), net		(6,794	)		(6,824	)
Income (loss) from continuing operations before income taxes		13,557			(3,117	)
Provision (benefit) for income taxes		5,694			(1,244	)
Income (loss) from continuing operations		7,863			(1,873	)
Income from discontinued operations		147			124
Net income (loss)	$	8,010		$	(1,749	)
Earnings (loss) per share – basic:
Continuing operations	$	0.42		$	(0.10	)
Discontinued operations	$	0.01		$	0.01
Total earnings (loss) per share – basic	$	0.43		$	(0.09	)
Earnings (loss) per share – diluted:
Continuing operations	$	0.41		$	(0.10	)
Discontinued operations	$	0.01		$	0.01
Total earnings (loss) per share – diluted	$	0.42		$	(0.09	)
Average shares outstanding – basic		18,655			18,555
Average shares outstanding – diluted		19,086			18,555
Dividends declared per share	$	0.05		$	0.05

See notes to condensed consolidated financial statements.

2

Roadway Corporation and Subsidiaries

Condensed Statements of Consolidated Cash Flows (Unaudited)

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003			March 23, 2002
	(in thousands)
Cash flows from operating activities
Income (loss) from continuing operations	$	7,863		$	(1,873	)
Depreciation and amortization		18,260			18,555
Other operating adjustments		(24,201	)		(52,778	)
Net cash provided (used) by operating activities		1,922			(36,096	)
Cash flows from investing activities
Purchases of carrier operating property		(13,786	)		(11,043	)
Sales of carrier operating property		762			1,381
Business disposal		47,221			—
Net cash provided (used) by investing activities		34,197			(9,662	)
Cash flows from financing activities
Dividends paid		(960	)		(957	)
Treasury stock activity, net		(950	)		24
Long-term (repayments) borrowings		(24,000	)		—
Net cash (used) by financing activities		(25,910	)		(933	)
Effect of exchange rate changes on cash		51			(11	)
Net increase (decrease) in cash and cash equivalents from continuing operations		10,260			(46,702	)
Net (decrease) in cash and cash equivalents from discontinued operations		(38	)		(4,339	)
Cash and cash equivalents at beginning of period		106,929			110,433
Cash and cash equivalents at end of period	$	117,151		$	59,392

See notes to condensed consolidated financial statements.

3

Roadway Corporation and Subsidiaries

Notes to Condensed Consolidated Financial Statements (unaudited)

Note 1—Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the twelve weeks ended March 29, 2003 are not necessarily indicative of the results that may be expected for the year ending December 31, 2003. For further information, refer to the consolidated financial statements and footnotes thereto included in the Roadway Corporation Annual Report on Form 10-K for the year ended December 31, 2002.

Note 2—Accounting Period

Roadway Corporation (the registrant or Company) operates on 13 four-week accounting periods with 12 weeks in each of the first three quarters and 16 weeks in the fourth quarter.

Note 3—Discontinued operations

On December 26, 2002, the Company entered into an agreement to sell Arnold Transportation Services (ATS) to a management group led by the unit’s president and a private equity firm, for approximately $55,000,000. The ATS business segment was acquired as part of the Company’s purchase of Roadway Next Day in November 2001, but did not fit the Company’s strategic focus of being a LTL carrier. The transaction was completed on January 23, 2003. The Company did not recognize a significant gain or loss as a result of this transaction.

The Company has reported the ATS results as a discontinued operation in the accompanying financial statements and, unless otherwise stated, the notes to the financial statements for all periods presented exclude the amounts related to this discontinued operation.

The following table presents revenue and income from the discontinued operations for the quarters ended March 29, 2003 and March 23, 2002. The quarter ended March 29, 2003 includes results of operations only through the disposal date, January 23, 2003.

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003		March 23, 2002
	(in thousands)
Revenue	$	9,267	$	38,201
Pre-tax income from discontinued operations		198		212
Income tax expense		51		88
Income from discontinued operations	$	147	$	124

4

Note 4—Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003		March 23, 2002
	(in thousands, except per share data)
Income (loss) from:
Continuing operations	$	7,863	$	(1,873	)
Discontinued operations		147		124
Net income (loss)	$	8,010	$	(1,749	)
Weighted-average shares for basic earnings per share		18,655		18,555
Management incentive stock plans		431		—
Weighted-average shares for diluted earnings per share		19,086		18,555
Basic earnings (loss) per share from:
Continuing operations	$	0.42	$	(0.10	)
Discontinued operations		0.01	$	0.01
Basic earnings (loss) per share	$	0.43	$	(0.09	)
Diluted earnings (loss) per share from:
Continuing operations	$	0.41	$	(0.10	)
Discontinued operations		0.01	$	0.01
Diluted earnings (loss) per share	$	0.42	$	(0.09	)

5

Note 5—Segment information

The Company provides freight services in two business segments: Roadway Express (Roadway) and New Penn Motor Express (New Penn). The Roadway segment provides long haul LTL freight services in North America and offers services to over 100 countries worldwide. The New Penn segment provides regional, next-day LTL freight service primarily in the northeast region of the United States.

The Company’s reportable segments are identified based on differences in products, services, and management structure. The measurement basis of segment profit or loss is operating income. Business segment assets consist primarily of customer receivables, net carrier operating property, and goodwill.

	Twelve weeks ended March 29, 2003
	(First Quarter)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	705,244		$	48,826		$	754,070
Operating expense:		��
Salaries, wages & benefits		439,438			33,443			472,881
Operating supplies		125,826			7,667			133,493
Purchased transportation		74,242			542			74,784
Operating license and tax		18,379			1,389			19,768
Insurance and claims		13,895			954			14,849
Depreciation		14,924			2,209			17,133
Net loss (gain) on sale of operating property		802			9			811
Total operating expense		687,506			46,213			733,719
Operating income	$	17,738		$	2,613		$	20,351
Operating ratio		97.5	%		94.6	%		97.3	%
Total assets	$	802,557		$	403,315		$	1,205,872

6

Note 5—Segment information (continued)

	Twelve weeks ended March 23, 2002
	(First Quarter)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	553,558		$	45,409		$	598,967
Operating expense:
Salaries, wages & benefits		366,335			30,709			397,044
Operating supplies		95,499			6,114			101,613
Purchased transportation		51,126			383			51,509
Operating license and tax		14,188			1,359			15,547
Insurance and claims		10,388			894			11,282
Depreciation		15,269			2,690			17,959
Net loss (gain) on sale of operating property		346			(51	)		295
Total operating expense		553,151			42,098			595,249
Operating income	$	407		$	3,311		$	3,718
Operating ratio		99.9	%		92.7	%		99.4	%
Total assets	$	703,834		$	335,218		$	1,039,052

Reconciliation of segment operating income to consolidated operating income from continuing operations before taxes:

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003			March 23, 2002
	(in thousands)
Segment operating income from continuing operations	$	20,351		$	3,718
Unallocated corporate (expense)		—			(11	)
Interest (expense)		(5,102	)		(5,464	)
Other (expense), net		(1,692	)		(1,360	)
Consolidated income (loss) from continuing operations before taxes	$	13,557		$	(3,117	)

7

Note 5—Segment information (continued)

Reconciliation of total segment assets to total consolidated assets:

	March 29,2003			December 31, 2002
	(in thousands)
Total segment assets	$	1,205,872		$	1,211,584
Unallocated corporate assets		77,102			41,351
Assets of discontinued operations		—			87,431
Elimination of intercompany balances		(14,200	)		(4,493	)
Consolidated assets	$	1,268,774		$	1,335,873

Note 6—Comprehensive Income

Comprehensive income differs from net income due to foreign currency translation adjustments and derivative fair value adjustments as shown below:

	Twelve Weeks Ended
	(First Quarter)
	March 29, 2003		March 23, 2002
	(in thousands)
Net income (loss)	$	8,010	$	(1,749	)
Foreign currency translation adjustments		2,688		(1,178	)
Derivative fair value adjustment		76		—
Comprehensive income (loss)	$	10,774	$	(2,927	)

Note 7—Contingent Matter

The Company’s former parent is currently under examination by the Internal Revenue Service for tax years 1994 and 1995, years prior to the spin-off of the Company. The IRS has proposed substantial adjustments for these tax years for multi-employer pension plan deductions. The IRS is challenging the timing, not the validity of these deductions. The Company is unable to predict the ultimate outcome of this matter; however, its former parent intends to vigorously contest these proposed adjustments.

Under a tax sharing agreement entered into by the Company and its former parent at the time of the spin-off, the Company is obligated to reimburse the former parent for any additional taxes and interest that relate to the Company’s business prior to the spin-off. The amount and timing of such payments is dependent on the ultimate resolution of the former parent’s disputes with the IRS and the determination of the nature and extent of the obligations under the tax sharing agreement. On January 16, 2003, the Company made a $14,000,000 payment to its former parent under the tax sharing agreement for taxes and interest related to certain of the proposed adjustments for tax years 1994 and 1995.

We estimate the range of the remaining payments that may be due to the former parent to be $0 to $16,000,000 in additional taxes and $0 to $10,000,000 in related interest, net of tax benefit. The Company has established certain reserves with respect to these proposed adjustments. There can be no assurance, however, that the amount or timing of any liability of the Company to the former parent will not have a material adverse effect on the Company’s results of operations and financial position.

8

Note 8—Guarantor and Non-Guarantor Subsidiaries

The credit facility borrowings and the senior notes issued in connection with the acquisition of Arnold are secured by a first-priority perfected lien on all of the capital stock of the Company’s direct subsidiaries. They are also supported by guarantees provided by all of the Company’s material subsidiaries, which are wholly owned. These guarantees are full and unconditional, joint and several.

The following condensed consolidating financial statements set forth the Company’s balance sheets, statements of income, and statements of cash flows for the same time periods as the financial statements presented in Item 1 above. In the following schedules “Parent Company” refers to the balances of Roadway Corporation, “Guarantor Subsidiaries” refers to non-minor domestic subsidiaries, and “Non-guarantor subsidiaries” refers to foreign and minor domestic subsidiaries and “Eliminations” represent the adjustments necessary to (a) eliminate intercompany transactions and (b) eliminate the investments in the Company’s subsidiaries.

Condensed Consolidating Balance Sheets March 29, 2003	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Cash and cash equivalents	$	30		$	84	$	3	$	–		$	117
Accounts receivable, including retained interest in securitized receivables, net		–			202		16		–			218
Due from affiliates		20			312		1		(333	)		–
Prepaid expenses and supplies		–			26		–		–			26
Deferred income taxes		–			29		–		–			29
Total current assets		50			653		20		(333	)		390
Carrier operating property, at cost		–			1,484		28		–			1,512
Less allowance for depreciation		–			992		16		–			1,008
Net carrier operating property		–			492		12		–			504
Goodwill, net		–			269		16		–			285
Investment in subsidiaries		606			8		–		(614	)		–
Deferred income taxes		4			38		1		–			43
Long-term assets		18			29		–		–			47
Total assets	$	678		$	1,489	$	49	$	(947	)	$	1,269
Accounts payable	$	(21	)	$	200	$	8	$	–		$	187
Due to affiliates		290			13		30		(333	)		–
Salaries and wages		–			125		2		–			127
Current portion of long-term debt		–			10		–		–			10
Freight and casualty claims payable		–			50		1		–			51
Total current liabilities		269			398		41		(333	)		375
Casualty claims and other		7			60		–		–			67
Deferred income taxes		–			10		–		–			10
Long-term debt		–			274		–		–			274
Accrued pension and retiree medical		–			141		–		–			141
Total shareholders’ equity		402			606		8		(614	)		402
Total liabilities and shareholders’ equity	$	678		$	1,489	$	49	$	(947	)	$	1,269

9

Note 8—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Balance Sheets December 31, 2002	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Cash and cash equivalents	$	12		$	88	$	7	$	–		$	107
Accounts receivable, including retained interest in securitized receivables, net		–			216		14		–			230
Due from affiliates		11			330		2		(343	)		–
Prepaid expenses and supplies		–			17		–		–			17
Deferred income taxes		–			22		–		–			22
Assets of discontinued operations		–			87		–		–			87
Total current assets		23			760		23		(343	)		463
Carrier operating property, at cost		–			1,488		28		–			1,516
Less allowance for depreciation		–			992		15		–			1,007
Net carrier operating property		–			496		13		–			509
Goodwill, net		–			269		15		–			284
Investment in subsidiaries		656			4		–		(660	)		–
Deferred income taxes		4			36		–		–			40
Long-term assets		10			30		–		–			40
Total assets	$	693		$	1,595	$	51	$	(1,003	)	$	1,336
Accounts payable	$	(12	)	$	195	$	11	$	–		$	194
Due to affiliates		310			2		31		(343	)		–
Salaries and wages		2			145		4		–			151
Current portion of long-term debt		–			34		–		–			34
Freight and casualty claims payable		–			49		1		–			50
Liabilities of discontinued operations		–			32		–		–			32
Total current liabilities		300			457		47		(343	)		461
Casualty claims and other		5			62		–		–			67
Deferred income taxes		–			11		–		–			11
Long-term debt		–			274		–		–			274
Accrued pension and retiree medical		–			135		–		–			135
Total shareholders’ equity		388			656		4		(660	)		388
Total liabilities and shareholders’ equity	$	693		$	1,595	$	51	$	(1,003	)	$	1,336

10

Note 8—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Statements of Income Twelve Weeks Ended March 29 2003 (First Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	724		$	30	$	–		$	754
Operating expenses:
Salaries, wages and benefits		2			463			10		–			475
Operating supplies and expenses		(2	)		125			7		–			130
Purchased transportation		–			66			9		–			75
Operating taxes and licenses		–			20			–		–			20
Insurance and claims expenses		–			15			–		–			15
Provision for depreciation		–			17			1		–			18
Net loss (gain) on disposal of operating property		–			1			–		–			1
Results of affiliates		(8	)		(2	)		–		10			–
Total operating expenses		(8	)		705			27		10			734
Operating (loss) income		8			19			3		(10	)		20
Other (expenses), net		–			(6	)		–		–			(6	)
(Loss) income before income taxes		8			13			3		(10	)		14
(Benefit) provision for income taxes		–			5			1		–			6
Net (loss) income	$	8		$	8		$	2	$	(10	)	$	8

Condensed Consolidating Statements of Income Twelve Weeks Ended March 23, 2002 (First Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	575		$	24	$	–		$	599
Operating expenses:
Salaries, wages and benefits		2			389			8		–			399
Operating supplies and expenses		(2	)		95			6		–			99
Purchased transportation		–			44			8		–			52
Operating taxes and licenses		–			15			1		–			16
Insurance and claims expenses		–			11			–		–			11
Provision for depreciation		–			17			1		–			18
Net loss (gain) on disposal of operating property		–			–			–		–			–
Results of affiliates		4			–			–		(4	)		–
Total operating expenses		4			571			24		(4	)		595
Operating (loss) income		(4	)		4			–		4			4
Other (expenses), net		–			(7	)		–		–			(7	)
(Loss) income before income taxes		(4	)		(3	)		–		4			(3	)
(Benefit) provision for income taxes		(2	)		1			–		–			(1	)
Net (loss) income	$	(2	)	$	(4	)	$	–	$	4		$	(2	)

11

Note 8—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Statement of Cash Flows Twelve Weeks Ended March 29, 2003 (First Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
	(in millions)
Net cash (used) provided by operating activities	$	(10	)	$	15		$	(3	)	$	–	$	2
Cash flows from investing activities		–			(13	)		(1	)		–		(14	)
Purchases of carrier operating property, net		–			1			–			–		1
Issuance of long-term note receivable		(8	)		–			–			–		(8	)
Business acquisitions		55			–			–			–		55
Net cash (used) in investing activities		47			(12	)		(1	)		–		34
Cash flows from financing activities
Dividends received (paid)		(1	)		–			–			–		(1	)
Transfer to (from) parent		7			(7	)		–			–		–
Accounts receivable securitization		–			–			–			–		–
Treasury stock activity—net		(1	)		–			–			–		(1	)
Debt issuance costs					–			–			–		–
Long-term debt		(24	)		–			–			–		(24	)
Net cash provided (used) in financing activities		(19	)		(7	)		–			–		(26	)
Effect of exchange rate changes on cash		–			–			–			–		–
Net (decrease) in cash and cash equivalents		18			(4	)		(4	)		–		10
Cash and cash equivalents at beginning of year		12			88			7			–		107
Cash and cash equivalents at end of year	$	30		$	84		$	3		$	–	$	117

Condensed Consolidating Statement of Cash Flows Twelve Weeks Ended March 23, 2002 (First Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
	(in millions)
Net cash (used) provided by operating activities	$	(47	)	$	10		$	1		$	–	$	(36	)
Cash flows from investing activities
Purchases of carrier operating property, net		–			(9	)		(1	)		–		(10	)
Business acquisitions		–			–			–			–		–
Net cash (used) in investing activities		–			(9	)		(1	)		–		(10	)
Cash flows from financing activities
Dividends received (paid)		30			(31	)		–			–		(1	)
Accounts receivable securitization		–			–			–			–		–
Treasury stock activity—net		–			–			–			–		–
Long-term debt		–			–			–			–		–
Net cash provided (used) in financing activities		30			(31	)		–			–		(1	)
Net (decrease) in cash and cash equivalents from continuing operations		(17	)		(30	)		–			–		(47	)
Net (decrease) in cash and cash equivalents from discontinued operations		–			(4	)		–			–		(4	)
Cash and cash equivalents at beginning of year		35			74			1			–		110
Cash and cash equivalents at end of year	$	18		$	40		$	1		$	–	$	59

12

Roadway Corporation and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

	June 21,  2003		December 31, 2002
	(in thousands, except share data)
Assets
Current assets:
Cash and cash equivalents	$	125,692	$	106,929
Accounts receivable, including retained interest in securitized receivables, net		215,055		230,216
Assets of discontinued operations		—		87,431
Other current assets		49,541		38,496
Total current assets		390,288		463,072
Carrier operating property, at cost		1,511,699		1,515,648
Less allowance for depreciation		1,015,682		1,006,465
Net carrier operating property		496,017		509,183
Goodwill, net		286,181		283,910
Other assets		91,093		79,708
Total assets	$	1,263,579	$	1,335,873
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable	$	164,806	$	193,501
Salaries and wages		125,162		151,464
Liabilities of discontinued operations		—		32,407
Other current liabilities		61,889		83,518
Total current liabilities		351,857		460,890
Long-term liabilities:
Casualty claims and other		75,505		78,548
Accrued pension and retiree medical		147,800		135,053
Long-term debt		270,279		273,513
Total long-term liabilities		493,584		487,114
Shareholders’ equity:
Common Stock - $.01 par value Authorized - 100,000,000 shares Issued - 20,556,714 shares Outstanding - 19,898,002 in 2003 and 19,368,590 in 2002		206		206
Other shareholders’ equity		417,932		387,663
Total shareholders’ equity		418,138		387,869
Total liabilities and shareholders’ equity	$	1,263,579	$	1,335,873

Note: The balance sheet at December 31, 2002 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. See notes to condensed consolidated financial statements.

1

Roadway Corporation and Subsidiaries

Condensed Statements of Consolidated Income (Unaudited)

	Twelve Weeks Ended (Second Quarter)
	June 21, 2003			June 15, 2002
	(in thousands, except per share data)
Revenue	$	741,528		$	656,003
Operating expenses:
Salaries, wages and benefits		468,223			427,273
Operating supplies and expenses		130,022			107,104
Purchased transportation		75,725			57,775
Operating taxes and licenses		18,688			17,481
Insurance and claims expense		14,529			13,129
Provision for depreciation		16,870			18,152
Net loss on disposal of operating property		30			283
Total operating expenses		724,087			641,197
Operating income from continuing operations		17,441			14,806
Other (expense), net		(6,044	)		(6,823	)
Income from continuing operations before income taxes		11,397			7,983
Provision for income taxes		4,787			3,347
Income from continuing operations		6,610			4,636
(Loss) income from discontinued operations		(302	)		1,038
Net income	$	6,308		$	5,674
Earnings (loss) per share – basic:
Continuing operations	$	0.35		$	0.25
Discontinued operations		(0.02	)		0.05
Total earnings per share – basic	$	0.33		$	0.30
Earnings (loss) per share – diluted:
Continuing operations	$	0.35		$	0.25
Discontinued operations		(0.02	)		0.05
Total earnings per share – diluted	$	0.33		$	0.30
Average shares outstanding – basic		18,955			18,474
Average shares outstanding – diluted		19,336			18,888
Dividends declared per share	$	0.05		$	0.05

See notes to condensed consolidated financial statements.

2

Roadway Corporation and Subsidiaries

Condensed Statements of Consolidated Income (Unaudited)

	Twenty-four Weeks Ended (Two Quarters)
	June 21, 2003			June 15, 2002
	(in thousands, except per share data)
Revenue	$	1,495,598		$	1,254,970
Operating expenses:
Salaries, wages and benefits		943,658			826,437
Operating supplies and expenses		260,434			206,313
Purchased transportation		150,509			109,284
Operating taxes and licenses		38,554			33,045
Insurance and claims expense		29,641			24,560
Provision for depreciation		34,169			36,240
Net loss on disposal of operating property		841			578
Total operating expenses		1,457,806			1,236,457
Operating income from continuing operations		37,792			18,513
Other (expense), net		(12,838	)		(13,647	)
Income from continuing operations before income taxes		24,954			4,866
Provision for income taxes		10,481			2,103
Income from continuing operations		14,473			2,763
(Loss) income from discontinued operations		(155	)		1,162
Net income	$	14,318		$	3,925
Earnings (loss) per share – basic:
Continuing operations	$	0.77		$	0.15
Discontinued operations		(0.01	)		0.06
Total earnings per share – basic	$	0.76		$	0.21
Earnings (loss) per share – diluted:
Continuing operations	$	0.76		$	0.15
Discontinued operations		(0.01	)		0.06
Total earnings per share – diluted	$	0.75		$	0.21
Average shares outstanding – basic		18,802			18,514
Average shares outstanding – diluted		19,177			18,968
Dividends declared per share	$	0.10		$	0.10

See notes to condensed consolidated financial statements.

3

Roadway Corporation and Subsidiaries

Condensed Statements of Consolidated Cash Flows (Unaudited)

	Twenty-four Weeks Ended (Two Quarters)
	June 21, 2003			June 15, 2002
	(in thousands)
Cash flows from operating activities
Income from continuing operations	$	14,473		$	2,763
Depreciation and amortization		35,849			37,175
Other operating adjustments		(31,928	)		(45,756	)
Net cash provided (used) by operating activities		18,394			(5,818	)
Cash flows from investing activities
Purchases of carrier operating property		(22,448	)		(24,313	)
Sales of carrier operating property		1,721			1,869
Business disposal		47,430			—
Net cash provided (used) by investing activities		26,703			(22,444	)
Cash flows from financing activities
Dividends paid		(1,931	)		(1,940	)
Treasury stock activity, net		1,713			(1,383	)
Transfer from discontinued operation		���			2,500
Long-term (repayments) borrowings		(26,426	)		(2,500	)
Net cash (used) by financing activities		(26,644	)		(3,323	)
Effect of exchange rate changes on cash		348			(90	)
Net increase (decrease) in cash and cash equivalents from continuing operations		18,801			(31,675	)
Net (decrease) in cash and cash equivalents from discontinued operations		(38	)		(5,163	)
Cash and cash equivalents at beginning of period		106,929			110,432
Cash and cash equivalents at end of period	$	125,692		$	73,594

See notes to condensed consolidated financial statements.

4

Roadway Corporation and Subsidiaries

Notes to Condensed Consolidated Financial Statements (Unaudited)

Note 1—Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the twelve and twenty-four weeks ended June 21, 2003 are not necessarily indicative of the results that may be expected for the year ending December 31, 2003. For further information, refer to the consolidated financial statements and footnotes thereto included in the Roadway Corporation Annual Report on Form 10-K for the year ended December 31, 2002.

The Company completed the required goodwill impairment test under SFAS No. 142 for all reporting units effective June 21, 2003 which did not indicate any impairment. The Company expects to perform the required annual goodwill impairment assessment on a recurring basis at the end of the second quarter each year, or more frequently should any indicators of possible impairment be identified.

Note 2—Accounting Period

Roadway Corporation (the registrant or Company) operates on 13 four-week accounting periods with 12 weeks in each of the first three quarters and 16 weeks in the fourth quarter.

Note 3—Discontinued operations

On December 26, 2002, the Company entered into an agreement to sell Arnold Transportation Services (ATS) to a management group led by the unit’s president and a private equity firm, for approximately $55,000,000. The ATS business segment was acquired as part of the Company’s purchase of Arnold Industries, Inc. (subsequently renamed Roadway Next Day Corporation) in November 2001, but did not fit the Company’s strategic focus of being a LTL carrier. The transaction was completed on January 23, 2003. The Company did not recognize a significant gain or loss as a result of this transaction.

The Company has reported the ATS results as a discontinued operation in the accompanying financial statements and, unless otherwise stated, the notes to the financial statements for all periods presented exclude the amounts related to this discontinued operation.

5

Note 4—Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Twelve Weeks Ended (Second Quarter)					Twenty-four Weeks Ended (Two Quarters)
	June 21, 2003			June 15, 2002		June 21, 2003			June 15, 2002
	(in thousands, except per share data)
Income (loss) from:
Continuing operations	$	6,610		$	4,636	$	14,473		$	2,763
Discontinued operations		(302	)		1,038		(155	)		1,162
Net income	$	6,308		$	5,674	$	14,318		$	3,925
Weighted-average shares for basic earnings per share		18,955			18,474		18,802			18,514
Management incentive stock plans		381			414		375			454
Weighted-average shares for diluted earnings per share		19,336			18,888		19,177			18,968
Basic earnings (loss) per share from:
Continuing operations	$	0.35		$	0.25	$	0.77		$	0.15
Discontinued operations		(0.02	)		0.05		(0.01	)		0.06
Basic earnings per share	$	0.33		$	0.30	$	0.76		$	0.21
Diluted earnings (loss) per share from:
Continuing operations	$	0.35		$	0.25	$	0.76		$	0.15
Discontinued operations		(0.02	)		0.05		(0.01	)		0.06
Diluted earnings per share	$	0.33		$	0.30	$	0.75		$	0.21

6

Note 5—Segment information

The Company provides freight services in two business segments: Roadway Express (Roadway) and New Penn Motor Express (New Penn). The Roadway segment provides long haul, expedited, and regional LTL freight services in North America and offers services to over 100 countries worldwide. The New Penn segment provides regional, next-day LTL freight services primarily in the northeast region of the United States.

The Company’s reportable segments are identified based on differences in products, services, and management structure. The measurement basis of segment profit or loss is operating income. Business segment assets consist primarily of customer receivables, net carrier operating property, and goodwill.

	Twelve weeks ended June 21, 2003 (Second Quarter)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	691,156		$	50,372		$	741,528
Operating expense:
Salaries, wages & benefits		433,101			32,657			465,758
Operating supplies		125,734			7,244			132,978
Purchased transportation		75,276			449			75,725
Operating license and tax		17,182			1,427			18,609
Insurance and claims		13,599			684			14,283
Depreciation		14,472			2,232			16,704
Net loss (gain) on sale of operating property		(21	)		51			30
Total operating expense		679,343			44,744			724,087
Operating income	$	11,813		$	5,628		$	17,441
Operating ratio		98.3	%		88.8	%		97.6	%
Total assets	$	761,817		$	405,914		$	1,167,731

7

Note 5—Segment information (continued)

	Twelve weeks ended June 15, 2002 (Second Quarter)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	606,409		$	49,594		$	656,003
Operating expense:
Salaries, wages & benefits		392,635			32,722			425,357
Operating supplies		103,488			5,937			109,425
Purchased transportation		57,317			458			57,775
Operating license and tax		16,043			1,383			17,426
Insurance and claims		11,964			947			12,911
Depreciation		15,416			2,615			18,031
Net loss (gain) on sale of operating property		303			(20	)		283
Total operating expense		597,166			44,042			641,208
Operating income	$	9,243		$	5,552		$	14,795
Operating ratio		98.5	%		88.8	%		97.7	%
Total assets	$	713,832		$	336,587		$	1,050,419

	Twenty-four weeks ended June 21, 2003 (Two Quarters)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	1,396,400		$	99,198		$	1,495,598
Operating expense:
Salaries, wages & benefits		872,539			66,100			938,639
Operating supplies		251,560			14,911			266,471
Purchased transportation		149,518			991			150,509
Operating license and tax		35,561			2,816			38,377
Insurance and claims		27,494			1,638			29,132
Depreciation		29,396			4,441			33,837
Net loss (gain) on sale of operating property		781			60			841
Total operating expense		1,366,849			90,957			1,457,806
Operating income	$	29,551		$	8,241		$	37,792
Operating ratio		97.9	%		91.7	%		97.5	%

8

Note 5—Segment information (continued)

	Twenty-four weeks ended June 15, 2002 (Two Quarters)
	Roadway Express			New Penn			Total
	(in thousands)
Revenue	$	1,159,967		$	95,003		$	1,254,970
Operating expense:
Salaries, wages & benefits		758,970			63,431			822,401
Operating supplies		198,987			12,051			211,038
Purchased transportation		108,443			841			109,284
Operating license and tax		30,231			2,742			32,973
Insurance and claims		22,352			1,841			24,193
Depreciation		30,685			5,305			35,990
Net loss (gain) on sale of operating property		649			(71	)		578
Total operating expense		1,150,317			86,140			1,236,457
Operating income	$	9,650		$	8,863		$	18,513
Operating ratio		99.2	%		90.7	%		98.5	%

Reconciliation of segment operating income to consolidated operating income from continuing operations before taxes:

	Twelve Weeks Ended (Second Quarter)						Twenty-four weeks ended (Two quarters)
	June 21, 2003			June 15, 2002			June 21, 2003			June 15, 2002
	(in thousands)
Segment operating income from continuing operations	$	17,441		$	14,795		$	37,792		$	18,513
Unallocated corporate income		—			11			—			—
Interest (expense)		(4,779	)		(5,473	)		(9,881	)		(10,937	)
Other (expense), net		(1,265	)		(1,350	)		(2,957	)		(2,710	)
Consolidated income from continuing operations before taxes	$	11,397		$	7,983		$	24,954		$	4,866

9

Note 5—Segment information (continued)

Reconciliation of total segment assets to total consolidated assets:

	June 21, 2003			December 31, 2002
	(in thousands)
Total segment assets	$	1,167,731		$	1,211,584
Unallocated corporate assets		103,142			41,351
Assets of discontinued operations		—			87,431
Elimination of intercompany balances		(7,294	)		(4,493	)
Consolidated assets	$	1,263,579		$	1,335,873

Note 6—Comprehensive Income

Comprehensive income differs from net income due to foreign currency translation adjustments and derivative fair value adjustments as shown below:

	Twelve weeks Ended (Second Quarter)				Twenty-four weeks ended (Two quarters)
	June 21, 2003		June 15, 2002		June 21, 2003		June 15, 2002
	(in thousands)
Net income	$	6,308	$	5,674	$	14,318	$	3,925
Foreign currency translation adjustments		3,089		1,122		5,776		(56	)
Derivative fair value adjustment		50		—		126		—
Comprehensive income	$	9,447	$	6,796	$	20,220	$	3,869

Note 7—Contingent Matter

The Company’s former parent is currently under examination by the Internal Revenue Service for tax years 1994 and 1995, years prior to the spin-off of the Company. The IRS has proposed substantial adjustments for these tax years for multi-employer pension plan deductions. The IRS is challenging the timing, not the validity of these deductions. The Company is unable to predict the ultimate outcome of this matter; however, its former parent intends to vigorously contest these proposed adjustments.

Under a tax sharing agreement entered into by the Company and its former parent at the time of the spin-off, the Company is obligated to reimburse the former parent for any additional taxes and interest that relate to the Company’s business prior to the spin-off. The amount and timing of such payments is dependent on the ultimate resolution of the former parent’s disputes with the IRS and the determination of the nature and extent of the obligations under the tax sharing agreement. On January 16, 2003, the Company made a $14,000,000 payment to its former parent under the tax sharing agreement for taxes and interest related to certain of the proposed adjustments for tax years 1994 and 1995.

We estimate the range of the remaining payments that may be due to the former parent to be $0 to $16,000,000 in additional taxes and $0 to $10,000,000 in related interest, net of tax benefit. The Company has established certain reserves with respect to these proposed adjustments. There can be no assurance, however, that the amount or timing of any liability of the Company to the former parent will not have a material adverse effect on the Company’s results of operations and financial position.

10

Note 8—Subsequent event

On July 8, 2003, the Company announced the signing of a definitive agreement under which Yellow Corporation would acquire Roadway for approximately $966 million, or $48 per share. See the Company’s 8-K filed on July 8, 2003 for further information and details.

Note 9—Guarantor and Non-Guarantor Subsidiaries

The credit facility borrowings and the senior notes issued in connection with the acquisition of Arnold are secured by a first-priority perfected lien on all of the capital stock of the Company’s direct subsidiaries. They are also supported by guarantees provided by all of the Company’s material subsidiaries, which are wholly owned. These guarantees are full and unconditional, joint and several.

The following condensed consolidating financial statements set forth the Company’s balance sheets, statements of income, and statements of cash flows for the same time periods as the financial statements presented in Item 1 above. In the following schedules “Parent Company” refers to Roadway Corporation, “Guarantor Subsidiaries” refers to non-minor domestic subsidiaries, and “Non-guarantor subsidiaries” refers to foreign and minor domestic subsidiaries and “Eliminations” represent the adjustments necessary to (a) eliminate intercompany transactions and (b) eliminate the investments in the Company’s subsidiaries.

Condensed Consolidating Balance Sheets June 21, 2003	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Cash and cash equivalents	$	67		$	54	$	5	$	–		$	126
Accounts receivable, including retained interest in securitized receivables, net		–			198		17		–			215
Due from affiliates		9			308		1		(318	)		–
Prepaid expenses and supplies		1			22		–		–			23
Deferred income taxes		–			27		–		–			27
Total current assets		77			609		23		(318	)		391
Carrier operating property, at cost		–			1,480		31		–			1,511
Less allowance for depreciation		–			997		18		–			1,015
Net carrier operating property		–			483		13		–			496
Goodwill, net		–			269		17		–			286
Investment in subsidiaries		578			14		–		(592	)		–
Deferred income taxes		4			40		1		–			45
Long-term assets		18			28		–		–			46
Total assets	$	677		$	1,443	$	54	$	(910	)	$	1,264
Accounts payable	$	(32	)	$	191	$	6	$	–		$	165
Due to affiliates		285			3		30		(318	)		–
Salaries and wages		–			122		3		–			125
Current portion of long-term debt		–			11		–		–			11
Freight and casualty claims payable		–			50		1		–			51
Total current liabilities		253			377		40		(318	)		352
Casualty claims and other		6			60		–		–			66
Deferred income taxes		–			10		–		–			10
Long-term debt		–			270		–		–			270
Accrued pension and retiree medical		–			148		–		–			148
Total shareholders’ equity		418			578		14		(592	)		418
Total liabilities and shareholders’ equity	$	677		$	1,443	$	54	$	(910	)	$	1,264

11

Note 9—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Balance Sheets December 31, 2002	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Cash and cash equivalents	$	12		$	88	$	7	$	–		$	107
Accounts receivable, including retained interest in securitized receivables, net		–			216		14		–			230
Due from affiliates		11			330		2		(343	)		–
Prepaid expenses and supplies		–			17		–		–			17
Deferred income taxes		–			22		–		–			22
Assets of discontinued operations		–			87		–		–			87
Total current assets		23			760		23		(343	)		463
Carrier operating property, at cost		–			1,488		28		–			1,516
Less allowance for depreciation		–			992		15		–			1,007
Net carrier operating property		–			496		13		–			509
Goodwill, net		–			269		15		–			284
Investment in subsidiaries		656			4		–		(660	)		–
Deferred income taxes		4			36		–		–			40
Long-term assets		10			30		–		–			40
Total assets	$	693		$	1,595	$	51	$	(1,003	)	$	1,336
Accounts payable	$	(12	)	$	195	$	11	$	–		$	194
Due to affiliates		310			2		31		(343	)		–
Salaries and wages		2			145		4		–			151
Current portion of long-term debt		–			34		–		–			34
Freight and casualty claims payable		–			49		1		–			50
Liabilities of discontinued operations		–			32		–		–			32
Total current liabilities		300			457		47		(343	)		461
Casualty claims and other		5			62		–		–			67
Deferred income taxes		–			11		–		–			11
Long-term debt		–			274		–		–			274
Accrued pension and retiree medical		–			135		–		–			135
Total shareholders’ equity		388			656		4		(660	)		388
Total liabilities and shareholders’ equity	$	693		$	1,595	$	51	$	(1,003	)	$	1,336

12

Note 9—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Statements of Income Twelve Weeks Ended June 21, 2003 (Second Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	711		$	31	$	–		$	742
Operating expenses:
Salaries, wages and benefits		2			456			10		–			468
Operating supplies and expenses		(2	)		125			7		–			130
Purchased transportation		–			67			9		–			76
Operating taxes and licenses		–			18			1		–			19
Insurance and claims expenses		–			15			–		–			15
Provision for depreciation		–			16			1		–			17
Net loss on disposal of operating property		–			–			–		–			–
Results of affiliates		(6	)		(2	)		–		8			–
Total operating expenses		(6	)		695			28		8			725
Operating income		6			16			3		(8	)		17
Other (expenses), net		–			(6	)		–		–			(6	)
Income before income taxes		6			10			3		(8	)		11
(Benefit) provision for income taxes		–			4			1		–			5
Net income	$	6		$	6		$	2	$	(8	)	$	6

Condensed Consolidating Statements of Income Twelve Weeks Ended June 15, 2002 (Second Quarter)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	627		$	30	$	(1	)	$	656
Operating expenses:
Salaries, wages and benefits		1			417			9		–			427
Operating supplies and expenses		(1	)		102			7		(1	)		107
Purchased transportation		–			49			9		–			58
Operating taxes and licenses		–			18			–		–			18
Insurance and claims expenses		–			13			–		–			13
Provision for depreciation		–			17			1		–			18
Net loss on disposal of operating property		–			–			–		–			–
Results of affiliates		(4	)		(2	)		–		6			–
Total operating expenses		(4	)		614			26		5			641
Operating income		4			13			4		(6	)		15
Other (expenses), net		–			(7	)		–		–			(7	)
Income before income taxes		4			6			4		(6	)		8
(Benefit) provision for income taxes		(2	)		3			2		–			3
Income from continuing operations		6			3			2		(6	)		5
Income from discontinued operations		–			1			–		–			1
Net income	$	6		$	4		$	2	$	(6	)	$	6

13

Note 9—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Statements of Income Twenty-four Weeks Ended June 21, 2003 (Two Quarters)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	1,435		$	61	$	–		$	1,496
Operating expenses:
Salaries, wages and benefits		4			920			20		–			944
Operating supplies and expenses		(4	)		250			14		–			260
Purchased transportation		–			132			18		–			150
Operating taxes and licenses		–			38			1		–			39
Insurance and claims expenses		–			29			1		–			30
Provision for depreciation		–			33			1		–			34
Net loss on disposal of operating property		–			1			–		–			1
Results of affiliates		(14	)		(4	)		–		18			–
Total operating expenses		(14	)		1,399			55		18			1,458
Operating income		14			36			6		(18	)		38
Other (expenses), net		–			(14	)		1		–			(13	)
Income before income taxes		14			22			7		(18	)		25
(Benefit) provision for income taxes		–			8			3		–			11
Net income	$	14		$	14		$	4	$	(18	)	$	14

Condensed Consolidating Statements of Income Twenty-four Weeks Ended June 15, 2002 (Two Quarters)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenue	$	–		$	1,202		$	54	$	(1	)	$	1,255
Operating expenses:
Salaries, wages and benefits		3			807			17		–			827
Operating supplies and expenses		(3	)		197			13		(1	)		206
Purchased transportation		–			92			17		–			109
Operating taxes and licenses		–			32			1		–			33
Insurance and claims expenses		–			24			–		–			24
Provision for depreciation		–			34			2		–			36
Net loss on disposal of operating property		–			1			–		–			1
Results of affiliates		(4	)		(2	)		–		6			–
Total operating expenses		(4	)		1,185			50		5			1,236
Operating income		4			17			4		(6	)		19
Other (expenses), net		–			(14	)		–		–			(14	)
Income before income taxes		4			3			4		(6	)		5
(Benefit) provision for income taxes		–			–			2		–			2
Income from continuing operations		4			3			2		(6	)		3
Income from discontinued operations		–			1			–		–			1
Net income	$	4		$	4		$	2	$	(6	)	$	4

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Note 9—Guarantor and Non-Guarantor Subsidiaries (continued)

Condensed Consolidating Statement of Cash Flows Twenty-four Weeks Ended June 21, 2003 (Two Quarters)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
	(in millions)
Net cash (used) provided by operating activities	$	(15	)	$	34		$	(1	)	$	–	$	18
Cash flows from investing activities
Purchases of carrier operating property, net		–			(19	)		(1	)		–		(20	)
Business acquisitions		47			–			–			–		47
Net cash (used) in investing activities		47			(19	)		(1	)		–		27
Cash flows from financing activities
Dividends received (paid)		(2	)		–			–			–		(2	)
Transfers to (from) parent		49			(49	)		–			–		–
Treasury stock activity—net		2			–			–			–		2
Debt issuance costs		–			–			–			–		–
Long-term borrowings (repayment)		(26	)		–			–			–		(26	)
Net cash provided (used) in financing activities		23			(49	)		–			–		(26	)
Effect of exchange rate changes on cash		–			–			–			–		–
Net (decrease) increase in cash and cash equivalents		55			(34	)		(2	)		–		19
Cash and cash equivalents at beginning of year		12			88			7			–		107
Cash and cash equivalents at end of year	$	67		$	54		$	5		$	–	$	126

Condensed Consolidating Statement of Cash Flows Twenty-four Weeks Ended June 15, 2002 (Two Quarters)	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
	(in millions)
Net cash (used) provided by operating activities	$	(62	)	$	51		$	5		$	–	$	(6	)
Cash flows from investing activities
Purchases of carrier operating property, net		–			(21	)		(1	)		–		(22	)
Business acquisitions		–			–			–			–		–
Net cash (used) in investing activities		–			(21	)		(1	)		–		(22	)
Cash flows from financing activities
Dividends received (paid)		40			(42	)		–			–		(2	)
Treasury stock activity—net		(1	)		–			–			–		(1	)
Transfer from discontinued operations		–			3			–			–		3
Long-term borrowings (repayment)		(3	)		–			–			–		(3	)
Net cash provided (used) in financing activities		36			(39	)		–			–		(3	)
Net (decrease) increase in cash and cash equivalents from continuing operations		(26	)		(9	)		4			–		(31	)
Net (decrease) increase in cash and cash equivalents from discontinued operations		–			(5	)		–			–		(5	)
Cash and cash equivalents at beginning of year		35			74			1			–		110
Cash and cash equivalents at end of year	$	9		$	60		$	5		$	–	$	74

15