Question-and-Answer Session
Operator
(Operator Instructions) Your first question is from Richard Skidmore Goldman Sachs.
Richard Skidmore Goldman Sachs
Chuck, can you just a little bit more about some of the cash conservation things that you're doing. And over the next quarter or two what big cash items you have, i.e., CapEx and any interest expense payments, hedging contributions, etc.?
Charles Hinrichs
We have been working on this for some time now, so we've been managing our working capital very aggressively; and, as both Pat and Steve alluded to, we're trimming the capital spending to the levels required to complete the projects necessary to enable completion of the transformation plan. As far as future lumpy cash flow payments in the fourth quarter or first quarter and into next year, it's not that much different. It's also difficult to predict those swings in working capital at the end of the quarter. Generally, there's not that much fluctuation.
Patrick Moore
I was talking about for competitive purposes we are not going to outline the details of the plans I think as both Steve and I alluded to. We believe that we are taking very meaningful and prudent actions within the company today to conserve cash. We recognize the environment in which we're operating, but we don't feel that providing significant details on exactly what the plan is would be in our best competitive interest.
Operator
Your next question comes from Sandy Barnes - KBS.
Sandy Barnes - KBS
In terms of the transformation program, you mentioned how you were on target with the costs saved. I imagine the 525 is more of a run rate number at this point in time. I was wondering if you can quantify how much on an actual basis you expect that would benefit your results in 2009?
Patrick Moore
From an additional amount? I don't think I understand your question.
Sandy Barnes - KBS
Is the full 525 based into your results through the end of this year? Or is that more of a run rate basis where on an actual basis you achieve less than that in your income statement and, thus, you will have some of those savings hitting your P&L next year?
Patrick Moore
Most of that is baked into our 2008 results. Outside of the 525 as we talked about, we got a number of continuing process improvement activities going on in the company, which we haven't specifically put dollar amounts on. But the 525 would be reflective for our full year results in 2008.
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