Exhibit 99.3
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STILWELL FINANCIAL INC.
UNAUDITED PRO FORMA CONSOLIDATED CONDENSED STATEMENT OF INCOME
(Dollars in Millions, Except Per Share Data)
For the year ended December 31,
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Historical Pro Forma Pro Forma
2000 Adjustments 2000
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Revenues:
Investment management fees......................... $ 1,850.7 $ -- $ 1,850.7
Shareowner servicing fees.......................... 338.2 338.2
Other.............................................. 59.2 59.2
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Total......................................... 2,248.1 -- 2,248.1
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Operating Expenses:
Compensation....................................... 490.5 490.5
Marketing and promotion............................ 103.5 103.5
Third party concession fees........................ 314.9 314.9
Depreciation and amortization...................... 81.2 55.8 (f) 137.0
Professional services.............................. 67.7 67.7
Other.............................................. 154.0 154.0
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Total......................................... 1,211.8 55.8 1,267.6
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Operating Income........................................ 1,036.3 (55.8) 980.5
Equity in earnings of unconsolidated affiliates......... 70.8 70.8
Interest expense - Kansas City Southern Industries,
Inc. (0.7) (0.7)
Interest expense - third parties........................ (7.0) (64.4) (g) (71.4)
Gain on litigation settlement........................... 44.2 44.2
Gain on sale of Janus common stock...................... 15.1 15.1
Other, net.............................................. 43.7 (13.5) (h) 30.2
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Income before taxes and minority interest.......... 1,202.4 (133.7) 1,068.7
Income tax provision.................................... 427.0 (40.6) (i) 386.4
Minority interest in consolidated earnings.............. 111.7 (97.0) (j) 14.7
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Net Income $ 663.7 $ 3.9 $ 667.6
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Per Share Data:
Weighted average Common shares outstanding
(in thousands)..................................... 222,445 222,445
Basic Earnings per share............................. $ 2.98 $ 3.00
Weighted average Diluted Common shares
outstanding (in thousands)......................... 225,423 225,423 (k)
Diluted Earnings per share........................... $ 2.90 $ 2.91
See Notes to Unaudited Pro Forma Consolidated Condensed Financial Statements.
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