EXHIBIT 99.2
Reconciliation of Reported and Operating Earnings per Share
Compound Annual Growth Rate
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2000 Reported EPS $2.87
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Change in common shares (1.06)
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Extraordinary items (0.07)
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Cumulative effect of accounting change 0.01
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Unicom pre-merger results 1.58
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Merger-related costs 0.68
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Pro forma merger accounting adjustments (0.15)
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2000 Pro Forma Operating EPS $3.86
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2002 Reported EPS $4.44
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Transition loss on implementation of FAS 141 and 142 0.71
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Gain on sale of AT&T Wireless (0.36)
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Employee severance costs 0.04
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2002 Pro Forma Operating EPS $4.83
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2-year 2002/2000 compound annual growth rate (CAGR): $4.44/$2.87 = 24% based on
reported results.
2-year 2002/2000 CAGR: $4.83/$3.86 = 12% based on pro forma operating results.