Exhibit 99.4
STILWELL FINANCIAL INC.
UNAUDITED PRO FORMA CONSOLIDATED CONDENSED STATEMENT OF INCOME
(Dollars in Millions, Except Per Share Data)
For the three months ended March 31,
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Historical Pro Forma Pro Forma
2001 Adjustments 2001
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Revenues:
Investment management fees......................... $ 367.8 $ -- $ 367.8
Shareowner servicing fees.......................... 64.1 64.1
Other.............................................. 16.6 16.6
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Total......................................... 448.5 -- 448.5
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Operating Expenses:
Compensation....................................... 95.3 95.3
Marketing and promotion............................ 24.4 24.4
Third party concession fees........................ 66.0 66.0
Depreciation and amortization...................... 24.9 11.4 (e) 36.3
Professional services.............................. 16.7 16.7
Other.............................................. 38.4 38.4
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Total......................................... 265.7 11.4 277.1
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Operating Income........................................ 182.8 (11.4) 171.4
Equity in earnings of unconsolidated affiliates......... 17.8 17.8
Interest expense - third parties........................ (5.0) 2.2 (f) (2.8)
Other, net.............................................. 6.8 (1.9) (g) 4.9
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Income before taxes and minority interest.......... 202.4 (11.1) 191.3
Income tax provision.................................... 72.2 (1.8) (h) 70.4
Minority interest in consolidated earnings.............. 18.8 (9.5) (i) 9.3
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Net Income $ 111.4 $ 0.2 $ 111.6
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Per Share Data:
Weighted average Common shares
outstanding (in thousands)........................ 219,042 219,042
Basic Earnings per share............................. $ 0.51 $ 0.51
Weighted average Diluted Common
shares outstanding (in thousands)................. 224,666 224,666 (j)
Diluted Earnings per share........................... $ 0.48 $ 0.48
See Notes to Unaudited Pro Forma Consolidated Condensed Financial Statements.