1
Exhibit 99.4
WESTINGHOUSE ELECTRIC CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 AND 1996
(in millions except per share amounts) (unaudited)
THREE MONTHS ENDED
MARCH 31, 1996
PRE-TAX AFTER-TAX PER-SHARE
AMOUNT AMOUNT IMPACT
------- ------ ------
CONTINUING OPERATIONS:
Operating Profit:
Restructuring ($123)
Litigation matters (486)
Impairment of assets (15)
Environmental remediation activities -
Other (30)
------
Total impact on operating profit (654) ($433)
------
Other income and expense:
Gain on the sale of an investment -
Pension settlement -
Loss on assets held for sale (152)
------
Total impact on other income & exp. (152) (99)
------ ------
Total impact on Continuing Operations ($806) (532) ($1.21)
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DISCONTINUED OPERATIONS:
Net gain on disposal of businesses 1,018 2.32
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt (63) (0.14)
------ ------
NET AMOUNT OF SPECIAL ITEMS $423 $0.97
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2
WESTINGHOUSE ELECTRIC CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 AND 1996
(in millions except per share amounts) (unaudited)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, 1996 JUNE 30, 1996
PRE-TAX AFTER-TAX PER-SHARE PRE-TAX AFTER-TAX PER-SHARE
AMOUNT AMOUNT IMPACT AMOUNT AMOUNT IMPACT
------ ------ ------ ------ ------ ------
CONTINUING OPERATIONS:
Operating Profit:
Restructuring - ($123)
Litigation matters - (486)
Impairment of assets - (15)
Environmental remediation activities ($175) (175)
Other - (30)
------ ------
Total impact on operating profit (175) ($114) (829) ($547)
------ ------
Other income and expense:
Gain on the sale of an investment - -
Pension settlement - -
Loss on assets held for sale - (152)
------ ------
Total impact on other income & exp. - - (152) (99)
------ ------ ------ ------
Total impact on Continuing Operations ($175) (114) ($0.26) ($981) (646) ($1.46)
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DISCONTINUED OPERATIONS:
Net gain on disposal of businesses - - 1,018 2.32
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt - - (63) (0.14)
------ ------ ----- -----
NET AMOUNT OF SPECIAL ITEMS ($114) ($0.26) $309 $0.72
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3
WESTINGHOUSE ELECTRIC CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 AND 1996
(in millions except per share amounts) (unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPT 30, 1996 SEPT 30, 1996
PRE-TAX AFTER-TAX PER-SHARE PRE-TAX AFTER-TAX PER-SHARE
AMOUNT AMOUNT IMPACT AMOUNT AMOUNT IMPACT
------ ------ ------ ------ ------ ------
CONTINUING OPERATIONS:
Operating Profit:
Restructuring - ($123)
Litigation matters - (486)
Impairment of assets - (15)
Environmental remediation activities - (175)
Other - (30)
------ ------
Total impact on operating profit - - (829) ($547)
------ ------
Other income and expense:
Gain on the sale of an investment - -
Pension settlement - -
Loss on assets held for sale - (152)
------ ------
Total impact on other income & exp. - - (152) (99)
------ ------ ------ ------
Total impact on Continuing Operations - - ($981) (646) ($1.46)
====== ======
DISCONTINUED OPERATIONS:
Net gain on disposal of businesses - - 1,018 2.30
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt (30) ($0.06) (93) (0.21)
------ ------ ------ ------
NET AMOUNT OF SPECIAL ITEMS ($30) ($0.06) $279 $0.63
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4
WESTINGHOUSE ELECTRIC CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 and 1996
(in millions except per share amounts) (unaudited)
THREE MONTHS ENDED TWELVE MONTHS ENDED
DEC 31, 1996 DEC 31, 1996
PRE-TAX AFTER-TAX PER-SHARE PRE-TAX AFTER-TAX PER-SHARE
AMOUNT AMOUNT IMPACT AMOUNT AMOUNT IMPACT
------ ------ ------ ------ ------ ------
CONTINUING OPERATIONS:
Operating Profit:
Restructuring ($150) ($273)
Litigation matters - (486)
Impairment of assets - (15)
Environmental remediation activities - (175)
Other - (30)
------- --------
Total impact on operating profit (150) ($91) (979) ($638)
------- --------
Other income and expense:
Gain on the sale of an investment - -
Pension settlement - -
Loss on assets held for sale - (152)
------- --------
Total impact on other income & exp. - - (152) (99)
------- ----- -------- --------
Total impact on Continuing Operations ($150) (91) ($0.20) ($1,131) (737) ($1.66)
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DISCONTINUED OPERATIONS:
Net gain on disposal of businesses - 1,018 2.30
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt - (93) (0.21)
----- ------ -------- ------
NET AMOUNT OF SPECIAL ITEMS ($91) ($0.20) $188 $0.43
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5
WESTINGHOUSE ELECTRIC CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 AND 1996
(in millions except per share amounts) (unaudited)
TWELVE MONTHS ENDED TWELVE MONTHS ENDED
DEC 31, 1995 DEC 31, 1994
PRE-TAX AFTER-TAX PER-SHARE PRE-TAX AFTER-TAX PER-SHARE
AMOUNT AMOUNT IMPACT AMOUNT AMOUNT IMPACT
------ ------ ------ ------ ------ ------
CONTINUING OPERATIONS:
Operating Profit:
Restructuring ($83) ($19)
Litigation matters (236) -
Impairment of assets - -
Environmental remediation activities - -
Other - -
-------- --------
Total impact on operating profit (319) ($198) (19) ($12)
-------- --------
Other income and expense:
Gain on the sale of an investment 115 -
Pension settlement - (308)
Loss on assets held for sale - -
------- --------
Total impact on other income & exp. 115 66 (308) (195)
------- ------ -------- ---------
Total impact on Continuing Operations ($204) (132) ($0.32) ($327) (207) ($0.54)
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DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses (76) ($0.19) - -
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt - - - -
------ ------- --------- -------
NET AMOUNT OF SPECIAL ITEMS ($208) ($0.51) ($207) ($0.54)
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