(a) Income from continuing operations, before interest expense, income tax provision, and purchase accounting depreciation and amortization, divided by;

(b) average invested capital for the year, calculated as a five quarter rolling average using the sum of short-term debt, long-term debt, shareowners’ equity, and accumulated amortization of goodwill and other intangible assets, minus cash and cash equivalents and short-term investments, multiplied by;

(c) one minus the effective tax rate for the period.

ROIC is calculated as follows:
  Twelve Months Ended
September 30,
2013   2012
(a) Return
Income from continuing operations $ 756.3 $ 737.0
Interest expense 60.9 60.1
Income tax provision 224.6 228.9
Purchase accounting depreciation and amortization 19.3   19.8  
Return 1,061.1   1,045.8  
(b) Average invested capital
Short-term debt 209.0 207.2
Long-term debt 905.0 905.0
Shareowners’ equity 2,086.7 1,881.5
Accumulated amortization of goodwill and intangibles 775.2 751.0
Cash and cash equivalents (1,010.2 ) (878.8 )
Short-term investments (361.7 ) (232.5 )
Average invested capital 2,604.0   2,633.4  
(c) Effective tax rate
Income tax provision 224.6 228.9
Income from continuing operations before income taxes $ 980.9   $ 965.9  
Effective tax rate 22.9 % 23.7 %
(a) / (b) * (1-c) Return On Invested Capital 31.4 % 30.3 %

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