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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (145104)	1/22/2002 8:58:13 AM
From: Les H	Read Replies (1) \| Respond to of 436258

Be careful what you ask for nypost.com

To: Les H who wrote (145104)	1/22/2002 11:00:00 AM
From: Les H	Read Replies (2) \| Respond to of 436258

More operating income Other Income (Expense), Net Other income (expense) consists primarily of net realized gains and losses on sales of marketable securities, miscellaneous state and foreign taxes and certain foreign-currency-related transaction gains and losses. Other Gains (Losses), Net Other gains, net were $16 million for the three months ended December 31, 2001, primarily consisting of a foreign-currency gain on 6.875% PEACS. Currency gains and losses arising from the remeasurement of the 6.875% PEACS principal from Euros to U.S. dollars are recorded each quarter. We are unable to forecast the gains or losses associated with our PEACS that will result from fluctuations in foreign exchange rates in future periods. Absent the foreign-currency gain recorded this quarter, we would have reported a fourth quarter 2001 GAAP net loss. iredge.com