United Technologies provides high-technology products and services to the building systems and aerospace industries worldwide through our industry-leading businesses: Carrier, Chubb, Hamilton Sundstrand, Otis, Pratt & Whitney, Sikorsky and UTC Power. In 2004, UTC’s revenues increased 21 percent to $37.4 billion, including 8 points of organic growth as well as the benefits of foreign exchange translation and acquisitions. Both earnings per share and net income grew 18 percent to $5.52 and $2.8 billion, respectively. Cash flow from operations was $3.7 billion, used in part to fund dividends, which increased to $1.40 per share. UTC voluntarily contributed $906 million to its pension plans during the year. After capital expenditures of $795 million, cash flow exceeded net income. Share repurchases totaled nearly $1 billion for the year.