EXHIBIT 99 COMPANY OPERATIONS Certain amounts have been reclassified to conform to the 1999 presentation. The principal reclassification was to move corporate amounts from the Other category to reconciling items. The reclassified disclosures for the first quarter of 1999 and 1998, other interim periods of 1998 and for the years 1998, 1997 and 1996 are as follows: Packaging Construction Base and and Materials Consumer Distribution - ------------------------------------------------------------------------------------------------------------------ FIRST QUARTER 1999 Customer aluminum shipments 212 33 47 Intersegment aluminum shipments 56 -- -- - ------------------------------------------------------------------------------------------------------------------ Total aluminum shipments 268 33 47 ================================================================================================================== Revenues: Aluminum $302 $178 $159 Nonaluminum 75 134 78 Intersegment revenues-- aluminum 81 -- -- - ------------------------------------------------------------------------------------------------------------------ Total revenues $458 $312 $237 ================================================================================================================== Segment operating income (loss) $ 14 $ 26 $ 8 Inventory accounting adjustments Corporate amounts Operational restructuring effects - net - ------------------------------------------------------------------------------------------------------------------ Corporate operating income Interest expense Taxes on income Cumulative effect of accounting change - ------------------------------------------------------------------------------------------------------------------ Net Income (Loss) ================================================================================================================== FIRST QUARTER 1998 Customer aluminum shipments 145 30 46 Intersegment aluminum shipments 99 -- -- - ------------------------------------------------------------------------------------------------------------------ Total aluminum shipments 244 30 46 ================================================================================================================== Revenues: Aluminum $247 $175 $165 Nonaluminum 115 136 82 Intersegment revenues-- aluminum 163 -- -- - ------------------------------------------------------------------------------------------------------------------ Total revenues $525 $311 $247 ================================================================================================================== Segment operating income $ 79 $ 22 $ 8 Inventory accounting adjustments Corporate amounts Operational restructuring effects - net - ------------------------------------------------------------------------------------------------------------------ Corporate operating income Interest expense Taxes on income Cumulative effect of accounting change - ------------------------------------------------------------------------------------------------------------------ Net Income ================================================================================================================== The reconciling amounts for nonaluminum revenues relate to corporate activities. Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ------------------------------------------------------------------------------------------------------------------------- 17 -- 14 323 -- 323 -- -- -- 56 (56) -- - ------------------------------------------------------------------------------------------------------------------------- 17 -- 14 379 (56) 323 ========================================================================================================================= $94 $ -- $ 25 $ 758 $ -- $ 758 -- -- 1 288 22 310 -- -- -- 81 (81) -- - ------------------------------------------------------------------------------------------------------------------------- $94 $ -- $ 26 $1,127 $ (59) $1,068 ========================================================================================================================= $(2) $ -- $ 3 $ 49 $ 49 2 (47) -- - ------------------------------------------------------------------------------------------------------------------------- 4 (20) 6 -- - ------------------------------------------------------------------------------------------------------------------------- $ (10) ========================================================================================================================= 16 116 9 362 -- 362 -- 2 -- 101 (101) -- - ------------------------------------------------------------------------------------------------------------------------- 16 118 9 463 (101) 362 ========================================================================================================================= $87 $476 $ 30 $1,180 $ -- $1,180 -- 5 1 339 13 352 -- 7 -- 170 (170) -- - ------------------------------------------------------------------------------------------------------------------------- $87 $488 $ 31 $1,689 $(157) $1,532 ========================================================================================================================= $-- $ 38 $ 1 $ 148 $ 148 3 (33) -- - ------------------------------------------------------------------------------------------------------------------------- 118 (34) (26) (23) - ------------------------------------------------------------------------------------------------------------------------- $ 35 ========================================================================================================================= COMPANY OPERATIONS -- continued Packaging Construction Base and and Materials Consumer Distribution - ------------------------------------------------------------------------------------------------------------------ SECOND QUARTER 1998 Customer aluminum shipments 168 37 46 Intersegment aluminum shipments 82 -- -- - ------------------------------------------------------------------------------------------------------------------ Total aluminum shipments 250 37 46 ================================================================================================================== Revenues: Aluminum $ 268 $205 $170 Nonaluminum 114 144 81 Intersegment revenues-- aluminum 126 -- -- - ------------------------------------------------------------------------------------------------------------------ Total revenues $ 508 $349 $251 ================================================================================================================== Segment operating income (loss) $ 95 $ 40 $ 8 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - ------------------------------------------------------------------------------------------------------------------ Corporate operating income (loss) Interest expense Taxes on income Extraordinary loss - ------------------------------------------------------------------------------------------------------------------ Net Income (Loss) ================================================================================================================== SIX MONTHS ENDED JUNE 30, 1998 Customer aluminum shipments 313 67 92 Intersegment aluminum shipments 181 -- -- - ------------------------------------------------------------------------------------------------------------------ Total aluminum shipments 494 67 92 ================================================================================================================== Revenues: Aluminum $ 515 $380 $335 Nonaluminum 229 280 163 Intersegment revenues-- aluminum 289 -- -- - ------------------------------------------------------------------------------------------------------------------ Total revenues $1,033 $660 $498 ================================================================================================================== Segment operating income (loss) $ 174 $ 62 $ 16 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - ------------------------------------------------------------------------------------------------------------------ Corporate operating income (loss) Interest expense Taxes on income Extraordinary loss Cumulative effect of accounting change - ------------------------------------------------------------------------------------------------------------------ Net Income (Loss) ================================================================================================================== The reconciling amounts for nonaluminum revenues relate to corporate activities. Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ------------------------------------------------------------------------------------------------------------------------- 15 103 9 378 -- 378 -- 2 -- 84 (84) -- - ------------------------------------------------------------------------------------------------------------------------- 15 105 9 462 (84) 378 ========================================================================================================================= $80 $461 $25 $ 1,209 $ -- $1,209 -- 4 11 354 16 370 -- 5 -- 131 (131) -- - ------------------------------------------------------------------------------------------------------------------------- $80 $470 $36 $ 1,694 $(115) $ 1,579 ========================================================================================================================= $(7) $ 42 $ 1 $ 179 $ -- $ 179 1 (38) (304) - ------------------------------------------------------------------------------------------------------------------------- (162) (33) 72 (3) - ------------------------------------------------------------------------------------------------------------------------- $ (126) ========================================================================================================================= 31 219 18 740 -- 740 -- 4 -- 185 (185) -- - ------------------------------------------------------------------------------------------------------------------------- 31 223 18 925 (185) 740 ========================================================================================================================= $167 $937 $55 $ 2,389 $ -- $ 2,389 -- 9 12 693 29 722 -- 12 -- 301 (301) -- - ------------------------------------------------------------------------------------------------------------------------- $167 $958 $67 $ 3,383 $(272) $ 3,111 ========================================================================================================================= $ (7) $ 80 $ 2 $ 327 $ 327 4 (71) (304) - ------------------------------------------------------------------------------------------------------------------------- (44) (67) 46 (3) (23) - ------------------------------------------------------------------------------------------------------------------------- $ (91) ========================================================================================================================= COMPANY OPERATIONS -- continued Packaging Construction Base and and Materials Consumer Distribution - ------------------------------------------------------------------------------------------------------------------------ THIRD QUARTER 1998 Customer aluminum shipments 172 34 48 Intersegment aluminum shipments 94 -- -- - ------------------------------------------------------------------------------------------------------------------------ Total aluminum shipments 266 34 48 ======================================================================================================================== Revenues: Aluminum $ 263 $ 191 $ 176 Nonaluminum 85 150 79 Intersegment revenues-- aluminum 156 -- -- - ------------------------------------------------------------------------------------------------------------------------ Total revenues $ 504 $ 341 $ 255 ======================================================================================================================== Segment operating income (loss) $ 65 $ 34 $ 13 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - ------------------------------------------------------------------------------------------------------------------------ Corporate operating income Interest expense Taxes on income Extraordinary loss Cumulative effect of accounting change - ----------------------------------------------------------------------------------------------------------------------- Net Income ======================================================================================================================= NINE MONTHS ENDED SEPTEMBER 30, 1998 Customer aluminum shipments 485 101 140 Intersegment aluminum shipments 275 -- -- - ----------------------------------------------------------------------------------------------------------------------- Total aluminum shipments 760 101 140 ======================================================================================================================= Revenues: Aluminum $ 778 $ 571 $ 511 Nonaluminum 314 430 242 Intersegment revenues-- aluminum 445 -- -- - ----------------------------------------------------------------------------------------------------------------------- Total revenues $1,537 $1,001 $ 753 ======================================================================================================================= Segment operating income (loss) $ 239 $ 96 $ 29 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - ----------------------------------------------------------------------------------------------------------------------- Corporate operating income Interest expense Taxes on income Extraordinary loss Cumulative effect of accounting change - ---------------------------------------------------------------------------------------------------------------------- Net Income ====================================================================================================================== The reconciling amounts for nonaluminum revenues relate to corporate activities. Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ---------------------------------------------------------------------------------------------------------------------- 15 88 9 366 -- 366 -- -- -- 94 (94) -- - ---------------------------------------------------------------------------------------------------------------------- 15 88 9 460 (94) 366 ====================================================================================================================== $75 $299 $26 $1,030 $ -- $1,030 -- 1 10 325 13 338 -- -- -- 156 (156) -- - ---------------------------------------------------------------------------------------------------------------------- $75 $300 $36 $1,511 $(143) $1,368 ====================================================================================================================== $(7) $ 31 $(1) $ 135 $ -- $ 135 1 (27) 315 - ---------------------------------------------------------------------------------------------------------------------- 424 (27) (135) (60) -- - ---------------------------------------------------------------------------------------------------------------------- $ 202 ====================================================================================================================== 46 307 27 1,106 -- 1,106 -- 4 -- 279 (279) -- - ---------------------------------------------------------------------------------------------------------------------- 46 311 27 1,385 (279) 1,106 ====================================================================================================================== $242 $1,236 $ 81 $3,419 $ -- $ 3,419 -- 10 22 1,018 42 1,060 -- 12 -- 457 (457) -- - ---------------------------------------------------------------------------------------------------------------------- $242 $1,258 $ 103 $4,894 $(415) $ 4,479 ====================================================================================================================== $(14) $ 111 $ 1 $ 462 $ 462 5 (98) 11 - ---------------------------------------------------------------------------------------------------------------------- 380 (94) (89) (63) (23) - ---------------------------------------------------------------------------------------------------------------------- $ 111 ====================================================================================================================== COMPANY OPERATIONS -- continued Packaging Construction Base and and Materials Consumer Distribution - --------------------------------------------------------------------------------------------------------------------- FOURTH QUARTER 1998 Customer aluminum shipments 183 40 44 Intersegment aluminum shipments 79 -- -- - --------------------------------------------------------------------------------------------------------------------- Total aluminum shipments 262 40 44 ===================================================================================================================== Revenues: Aluminum $277 $216 $170 Nonaluminum 88 175 72 Intersegment revenues-- aluminum 127 -- -- - --------------------------------------------------------------------------------------------------------------------- Total revenues $492 $391 $242 ===================================================================================================================== Segment operating income (loss) $ 51 $ 60 $ 10 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - --------------------------------------------------------------------------------------------------------------------- Corporate operating income (loss) Interest expense Taxes on income - --------------------------------------------------------------------------------------------------------------------- Net Income (Loss) ===================================================================================================================== The reconciling amounts for nonaluminum revenues relate to corporate activities. Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ---------------------------------------------------------------------------------------------------------------------- 17 84 10 378 -- 378 -- -- -- 79 (79) -- - ---------------------------------------------------------------------------------------------------------------------- 17 84 10 457 (79) 378 ====================================================================================================================== $94 $198 $36 $ 991 $ -- $ 991 -- 7 25 367 22 389 -- -- -- 127 (127) -- - ---------------------------------------------------------------------------------------------------------------------- $94 $205 $61 $ 1,485 $(105) $ 1,380 ====================================================================================================================== $(5) $ 13 $(1) $ 128 $ -- $ 128 -- (42) (155) - ---------------------------------------------------------------------------------------------------------------------- (69) (20) 44 - ---------------------------------------------------------------------------------------------------------------------- $ (45) ====================================================================================================================== COMPANY OPERATIONS -- continued Packaging Construction Base and and 1998 Materials Consumer Distribution - ---------------------------------------------------------------------------------------------------------------------- Customer aluminum shipments 668 141 184 Intersegment aluminum shipments 354 -- -- - ---------------------------------------------------------------------------------------------------------------------- Total aluminum shipments 1,022 141 184 ====================================================================================================================== Revenues: Aluminum $1,055 $ 787 $681 Nonaluminum 402 605 314 Intersegment revenues-- aluminum 572 -- -- - ---------------------------------------------------------------------------------------------------------------------- Total revenues $2,029 $ 1,392 $995 ====================================================================================================================== Segment operating income (loss) $ 290 $ 156 $ 39 Inventory accounting adjustments Corporate amounts Operational restructuring effects -- net - ---------------------------------------------------------------------------------------------------------------------- Corporate operating income Interest expense Taxes on income Extraordinary loss Cumulative effect of accounting change - ---------------------------------------------------------------------------------------------------------------------- Net Income ====================================================================================================================== Pre-tax equity income (loss) included in revenues $ (3) $ -- $ -- Depreciation and amortization 138 44 7 Assets $3,000 $ 625 $375 Current liabilities (excluding debt) 305 110 86 - ---------------------------------------------------------------------------------------------------------------------- Net operating investment $2,695 $ 515 $289 ====================================================================================================================== Unincorporated joint ventures and associated companies $1,299 $ -- $ -- Capital expenditures 228 38 10 ====================================================================================================================== Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ----------------------------------------------------------------------------------------------------------------------- 63 391 37 1,484 -- 1,484 -- 4 -- 358 (358) -- - ----------------------------------------------------------------------------------------------------------------------- 63 395 37 1,842 (358) 1,484 ======================================================================================================================= $336 $1,434 $117 $4,410 $ -- $4,410 -- 17 47 1,385 64 1,449 -- 12 -- 584 (584) -- - ----------------------------------------------------------------------------------------------------------------------- $336 $1,463 $164 $6,379 $ (520) $5,859 ======================================================================================================================= $(19) $ 124 $ -- $ 590 $ 590 5 (140) (144) - ------------------------------------------------------------------------------------------------------------------------ 311 (114) (45) (63) (23) - ------------------------------------------------------------------------------------------------------------------------ $ 66 ======================================================================================================================== $ (1) $ -- $ (10) $ (14) $ -- $ (14) 25 26 4 244 8 252 $352 $ 282 $ 417 $ 5,051 $ 1,083 $ 6,134 53 66 34 654 275 929 - ------------------------------------------------------------------------------------------------------------------------ $299 $ 216 $ 383 $ 4,397 $ 808 $ 5,205 ======================================================================================================================== $ 7 $ -- $ 172 $ 1,478 $ -- $ 1,478 50 -- 4 330 11 341 ======================================================================================================================== COMPANY OPERATIONS -- continued Packaging Construction Base and and 1997 Materials Consumer Distribution - ----------------------------------------------------------------------------------------------------------------------- Customer aluminum shipments 513 142 166 Intersegment aluminum shipments 684 -- -- - ----------------------------------------------------------------------------------------------------------------------- Total aluminum shipments 1,197 142 166 ======================================================================================================================= Revenues: Aluminum $ 923 $ 797 $614 Nonaluminum 405 602 328 Intersegment revenues-- aluminum 1,187 -- -- - ----------------------------------------------------------------------------------------------------------------------- Total revenues $ 2,515 $ 1,399 $942 ======================================================================================================================= Segment operating income $ 312 $ 141 $ 41 Inventory accounting adjustments Corporate amounts Operational restructuring effects-- net - ----------------------------------------------------------------------------------------------------------------------- Corporate operating income Interest expense Taxes on income Extraordinary loss Cumulative effect of accounting change - ----------------------------------------------------------------------------------------------------------------------- Net Income ======================================================================================================================= Pre-tax equity income (loss) included in revenues $ (2) $ -- $ -- Depreciation and amortization 135 47 5 Assets $ 3,154 $ 663 $381 Current liabilities (excluding debt) 289 114 102 - ----------------------------------------------------------------------------------------------------------------------- Net operating investment $ 2,865 $ 549 $279 ======================================================================================================================= Unincorporated joint ventures and associated companies $ 1,177 $ -- $ -- Capital expenditures 105 41 9 ======================================================================================================================= Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ----------------------------------------------------------------------------------------------------------------------- 66 737 39 1,663 -- 1,663 -- 10 -- 694 (694) -- - ----------------------------------------------------------------------------------------------------------------------- 66 747 39 2,357 (694) 1,663 ======================================================================================================================= $353 $2,610 $126 $5,423 $ -- $5,423 -- 72 28 1,435 42 1,477 -- 33 -- 1,220 (1,220) -- - ----------------------------------------------------------------------------------------------------------------------- $353 $2,715 $154 $8,078 $ (1,178) $6,900 ======================================================================================================================= $ 10 $ 102 $ 5 $ 611 $ 611 (12) (131) (75) - ----------------------------------------------------------------------------------------------------------------------- 393 (153) (104) -- -- - ----------------------------------------------------------------------------------------------------------------------- $ 136 ======================================================================================================================= $ 1 $ -- $ (4) $ (5) $ -- $ (5) 26 143 4 360 8 368 $331 $1,921 $442 $6,892 $ 334 $7,226 46 212 17 780 294 1,074 - ----------------------------------------------------------------------------------------------------------------------- $285 $1,709 $425 $6,112 $ 40 $6,152 ======================================================================================================================= $ 8 $ -- $196 $1,381 $ -- $1,381 40 33 30 258 14 272 ======================================================================================================================= COMPANY OPERATIONS -- continued Packaging Construction Base and and 1996 Materials Consumer Distribution - ---------------------------------------------------------------------------------------------------------------------- Customer aluminum shipments 458 136 151 Intersegment aluminum shipments 577 -- -- - ---------------------------------------------------------------------------------------------------------------------- Total aluminum shipments 1,035 136 151 ====================================================================================================================== Revenues: Aluminum $ 765 $ 768 $600 Nonaluminum 373 585 332 Intersegment revenues-- aluminum 944 -- -- - ---------------------------------------------------------------------------------------------------------------------- Total revenues $ 2,082 $1,353 $932 ====================================================================================================================== Segment operating income (loss) $ 242 $ 149 $ 45 Inventory accounting adjustments Corporate amounts Operational restructuring effects - net - ---------------------------------------------------------------------------------------------------------------------- Corporate operating income Interest expense Taxes on income Cumulative effect of accounting change - ---------------------------------------------------------------------------------------------------------------------- Net Income ====================================================================================================================== Pre-tax equity income included in revenues $ -- $ -- $ -- Depreciation and amortization 131 46 5 Assets $ 3,207 $ 635 $365 Current liabilities (excluding debt) 283 124 84 - ---------------------------------------------------------------------------------------------------------------------- Net operating investment $ 2,924 $ 511 $281 ====================================================================================================================== Unincorporated joint ventures and associated companies $ 1,187 $ -- $ -- Capital expenditures 93 59 6 ====================================================================================================================== Total Reconciling Transportation Restructuring Other Segments Items Consolidated - ---------------------------------------------------------------------------------------------------------------------- 58 813 37 1,653 -- 1,653 -- 11 -- 588 (588) -- - ---------------------------------------------------------------------------------------------------------------------- 58 824 37 2,241 (588) 1,653 ====================================================================================================================== $329 $2,802 $149 $5,413 $ -- $5,413 -- 243 41 1,574 29 1,603 -- 39 -- 983 (983) -- - ---------------------------------------------------------------------------------------------------------------------- $329 $3,084 $190 $7,970 $ (954) $7,016 ====================================================================================================================== $ 17 $ (38) $ 13 $ 428 $ 428 63 (141) (37) - ---------------------------------------------------------------------------------------------------------------------- 313 (160) (49) (15) - ---------------------------------------------------------------------------------------------------------------------- $ 89 ====================================================================================================================== $ 3 $ -- $ 18 $ 21 $ -- $ 21 23 143 9 357 8 365 $304 $2,149 $547 $7,207 $ 309 $ 7,516 38 256 12 797 223 1,020 - ---------------------------------------------------------------------------------------------------------------------- $266 $1,893 $535 $6,410 $ 86 $ 6,496 ====================================================================================================================== $ 8 $ -- $142 $1,337 $ -- $ 1,337 47 167 28 400 32 432 ====================================================================================================================== COMPANY OPERATIONS -- continued RECONCILING ITEMS Reconciling items consist of the following: 1998 1997 1996 ---------------------------------------- Assets: Corporate assets $1,106 $917 $ 847 Construction in progress 320 155 207 Inventory accounting adjustments (248) (547) (530) Internal receivables included in the assets of the global business units (95) (191) (215) ----------------------------------------- $1,083 $334 $309 ========================================= Current liabilities: Corporate liabilities $ 287 $398 $308 Payables to unincorporated joint ventures and associated companies 75 81 97 Internal liabilities included in the current liabilities of the global business units (87) (185) (182) ----------------------------------------- $ 275 $294 $223 ========================================= The reconciling amounts for nonaluminum revenues, depreciation and amortization and capital expenditures relate to corporate activities.