Earnings Perspective
Earnings $2.5B - $3.0B Revenues @ 9% Margin $225M - $270M
Foregone Interest $3.750B @ 5% ($188M)
Goodwill $2.5B @ 20 years ($125M)
Cost Savings Corporate allocation/other $100M
Pre-tax subtotal $12M - $57M
After-tax (37% rate) $8M - $36M
EPS (900M shares) $.01 - $.04 accretion