Interesting data set - decomposed returns

From 1926 to 2001 the compound growth rate of the S&P 500 was 10.7%. When broken down into the major factors in the Grinold-Kroner model they are as follows:

Income (dividends) - 4.4%
Earnings Growth - 4.8%
- Consisting of 1.7% real growth and 3.1% inflation
1.5% from P/E expansion

Just wanted to share.