Sources: Company reports; FactSet Research Systems Inc.; Bear, Stearns & Co. estimates
WHERE PROFITS ARE COMING FROM
Pension income representing 10% or more of operating income in 1998.
| Company | Pension income as a % of operating income ('97) | Pension income as a % of operating income ('98) |
| USX US Steel Group | 24% | 40% |
| Unocal | 4% | 38% |
| Northrop Grumman | 15% | 28% |
| Westvaco | 14% | 19% |
| Peoples Energy | 14% | 18% |
| Allegheny Teledyne | 12% | 17% |
| Lucent Technologies | 13% | 15% |
| Armstrong World Industries | 11% | 13% |
| Crown Cork & Sea | 10% | 12% |
| Consolidated Natural Gas | 8% | 11% |
Sources: Company reports; FactSet Research Systems Inc.; Bear, Stearns & Co. estimates.
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