Question-and-Answer Session
Operator
Thank you. Ladies and gentlemen, we will now be conducting a question-and-answer session. (Operator Instructions). Thank you. Our first question is coming from Steve Velgot of SIG.
Stephen Velgot - SIG Susquehanna
Yes. Just a couple of clarifications; the foreign exchange transaction gains and loses that shows up being a corporate expense. How is that or what is that as compared to the normal translation impact that you get that shows up in the international segment?
Michael Cazer
Sure. Steve, this is Mike. What that represents... those are transactions, where there are currency movements between our operating and our businesses and corporate that have to get revalued as the currency changes. And so in fourth quarter, as the dollar strengthen, we had say for example dividend receivables from various operating entities to corporate. As the dollar strengthened, those who worth less in U.S. dollars and the impact of those over the course of the quarter was a little bit less $3 million dollars.
Stephen Velgot - SIG Susquehanna
Okay. And then the guidance that you gave on corporate expense that was a third left and the as reported corporate expense meaning that included little over $8 million of FX losses and included almost $5 million of strategic review, but only a million of a growth income from BHS. I know you are... you talked about getting 6 to 7 million of royalty income?
Michael Cazer
Correct.
Stephen Velgot - SIG Susquehanna
But I think is that guidance that you about one-third less really just talked about corporate expenses as a gross measure. And then we could make our assumption. And take it as... it's not assuming any further foreign exchange gains or losses et cetera?
Michael Cazer
Steve, that's right. The guidance of more than a third less reflects reduction from the total number, which is about 55 million in 2008. And all the items that you mentioned would be factors in impacting that number in 2009. On top of the cost reduction that we are doing kind of the base SG&A.
Stephen Velgot - SIG Susquehanna
Okay. And then just one quick follow up: are we expecting a further garrulity in the reporting when you come out with your 10-K in terms of business segments or are you keeping things just North America and keeping things geographic?
Michael Cazer
What we are going to do Steve is we are going to continue to display the international and North America operations for revenue and profit. For further clarity, we're going to... we're working on spiting out some of the product-lines such as CIT, high value segments and security services. And we would do that at the revenue line basis; I'm not going top of it.
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