Question-and-Answer Session
Thank you. [Operator Instructions]. Our next question comes from Chip Dillon from Citi. Please proceed.
Chip Dillon - Citigroup Investment Management
Yes, Good morning Doyle.
Doyle R. Simons - Chairman and Chief Executive Officer
Good morning Chip.
Chip Dillon - Citigroup Investment Management
Just wanted to make sure we get to the right starting point because I know there is a lot of puts and takes here as we look at ahead. Clearly a strong number in containerboard corrugated packaging, but one of the earlier slides mentioned that the pre-tax which you... you all broke out for us was $36 million, and it would seem like as a starting point what we should probably, not expect to continue would be the $12 million in timber, the $4 million in other non-operating income and actually that $10 million in net interest on the timber assets liabilities would actually turn into a negative one.
And I guess if you add all that up together that would be $27 million. So your pre-tax was, if you adjust for that would have been around $9 million and therefore at a 40% rate, you would have been in the $0.06 range, and I just want to make sure that's a good place to start forecasting from. Did I miss anything there?
Doyle R. Simons - Chairman and Chief Executive Officer
Chip were you doing... were you focused on the full year 2007 or on the fourth quarter?
Chip Dillon - Citigroup Investment Management
Just on the fourth quarter on slide 4.
Doyle R. Simons - Chairman and Chief Executive Officer
I'll just look at that and make sure we are all on the same page Chip because I think it is important to start from the same point. You are right that timber and timberlands will go to zero.
Chip Dillon - Citigroup Investment Management
The other non-operating and 4 goes to zero.
Doyle R. Simons - Chairman and Chief Executive Officer
The other non-operating goes to zero.
Chip Dillon - Citigroup Investment Management
And the net interest to 10 would go to negative one I think.
Doyle R. Simons - Chairman and Chief Executive Officer
That's correct but also the interest expense on debt goes down as I mentioned to $19 million Chip.
Chip Dillon - Citigroup Investment Management
Oh, good point thank you. And so then that would... okay. And then other than that those are the... you are pretty much everything else is sort of what we should jump off with?
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