1
Exhibit 99.3
CBS CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
(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 $ (48)
Litigation matters (28)
-------
Total impact on operating profit (76) $ (58)
-------
Other income and expense:
Gain on the sale of an investment --
Pension settlement --
-------
Total impact on other income & exp. -- --
------- -------
Total impact on Continuing Operations $ (76) (58) $ (0.13)
======= ------- -------
DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses $ 1,886 1,018 2.32
WELCO special items:
Restructuring (75)
Litigation matters (458)
Impairment of assets (15)
Environmental remediation activities --
Other matters (30)
Pension settlement --
Loss on assets held for sale (152)
-------
Total WELCO special items (730) (474) (1.08)
Thermo King special items:
Restructuring -- -- --
------- ------- -------
Total impact on Discontinued Operations $ 1,156 544 1.24
======= ------- -------
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt (63) (0.14)
------- -------
NET AMOUNT OF SPECIAL ITEMS $ 423 $ 0.97
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2
CBS CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
(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 -- $ (48)
Litigation matters -- (28)
------- -------
Total impact on operating profit -- -- (76) $ (58)
------- -------
Other income and expense:
Gain on the sale of an investment -- --
Pension settlement -- --
------- -------
Total impact on other income & exp. -- -- -- --
------- ------- ------- -------
Total impact on Continuing Operations -- -- -- $ (76) (58) $ (0.13)
======= ------- ------- =======
DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses -- -- -- $ 1,886 1,018 2.32
WELCO special items:
Restructuring -- (75)
Litigation matters -- (458)
Impairment of assets -- (15)
Environmental remediation activities $ (175) (175)
Other matters -- (30)
Pension settlement -- --
Loss on assets held for sale -- (152)
------ -------
Total WELCO special items (175) (114) $ (0.26) (905) (588) (1.33)
Thermo King special items:
Restructuring -- -- -- -- -- --
------ ------- ------- ------- ------- --------
Total impact on Discontinued Operations $ (175) (114) (0.26) $ 981 430 0.99
======= ------- ------- ======= ------- --------
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
CBS CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
(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 -- $ (48)
Litigation matters -- (28)
------- -------
Total impact on operating profit -- -- (76) $ (58)
------- -------
Other income and expense:
Gain on the sale of an investment -- --
Pension settlement -- --
------- -------
Total impact on other income & exp. -- -- -- --
------- ------- ------- -------
Total impact on Continuing Operations -- -- -- $ (76) (58) $(0.13)
======= ------- ------- =======
DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses -- -- -- $ 1,886 1,018 2.30
WELCO special items:
Restructuring -- (75)
Litigation matters -- (458)
Impairment of assets -- (15)
Environmental remediation activities -- (175)
Other matters -- (30)
Pension settlement -- --
Loss on assets held for sale -- (152)
------- -------
Total WELCO special items -- -- -- (905) (588) (1.33)
Thermo King special items:
Restructuring -- -- -- -- -- --
------- ------- ------- ------- ------- ------
Total impact on Discontinued Operations -- -- -- $ 981 430 0.97
======= ------- ------- ======= ------- ------
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
CBS CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
(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 $ (9) $ (57)
Litigation matters -- (28)
------- -------
Total impact on operating profit (9) $ (3) (85) $ (61)
------- -------
Other income and expense:
Gain on the sale of an investment -- --
Pension settlement -- --
------- -------
Total impact on other income & exp. -- -- -- --
------- ------- ------- ------
Total impact on Continuing Operations $ (9) (3) $ 0.00 $ (85) (61) $ (0.13)
======= =======
DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses -- -- -- $ 1,886 1,018 2.30
WELCO special items:
Restructuring $ (135) (210)
Litigation matters -- (458)
Impairment of assets -- (15)
Environmental remediation activities -- (175)
Other matters -- (30)
Pension settlement -- --
Loss on assets held for sale -- (152)
------- -------
Total WELCO special items (135) (88) (0.20) (1,040) (676) (1.53)
Thermo King special items:
Restructuring (6) -- -- (6) -- --
------- ------- ------ ------- ------- ------
Total impact on Discontinued Operations $ (141) (88) (0.20) $ 840 342 0.77
======= ------- ------ ======= ------- ------
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt -- -- (93) (0.21)
------- ------ ------- ------
NET AMOUNT OF SPECIAL ITEMS $ (91) $(0.20) $ 188 $ 0.43
======= ====== ======= ======
5
CBS CORPORATION
SPECIAL ITEMS INCLUDED IN RESULTS OF OPERATIONS
(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 $ (25) $ 2
Litigation matters -- --
----- -----
Total impact on operating profit (25) $ (7) 2 $ 1
----- -----
Other income and expense:
Gain on the sale of an investment 115 --
Pension settlement -- (170)
----- -----
Total impact on other income & exp. 115 66 (170) (105)
----- ----- ----- -------
Total impact on Continuing Operations $ 90 59 $ 0.15 $(168) (104) $ (0.27)
===== =====
DISCONTINUED OPERATIONS:
Net gain (loss) on disposal of businesses $(108) (76) ($0.19) -- -- --
WELCO special items:
Restructuring (58) $ (21)
Litigation matters (236) --
Impairment of assets -- --
Environmental remediation activities -- --
Other matters -- --
Pension settlement -- (138)
Loss on assets held for sale -- --
----- -----
Total WELCO special items (294) (191) (0.47) (159) (103) (0.27)
Thermo King special items:
Restructuring -- -- -- -- -- --
----- ----- ------- ----- ------- -------
Total impact on Discontinued Operations $(402) (267) (0.66) $(159) (103) (0.27)
===== ----- ------- ===== ------- -------
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt -- -- -- --
----- ------- ------- -------
NET AMOUNT OF SPECIAL ITEMS $(208) $ (0.51) $ (207) $ (0.54)
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