Financial Highlights

Annual Balance Sheet

 
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Period Ended12/31/1312/31/1212/31/1112/31/1012/31/09
 UpdateUpdateReclassifiedUpdateRestated
 05/16/1405/16/1404/30/1404/30/1404/30/14
In millions of USD
(except for per share items)
Cash & Equivalents343.00721.00684.00321.00404.00
Cash and Short Term Investments343.00721.00684.00321.00404.00
Accounts Receivable - Trade, Gross1,531.001,449.001,403.001,345.001,322.00
Provision for Doubtful Accounts-16.00-17.00-16.00-16.00-13.00
Accounts Receivable - Trade, Net1,604.001,498.001,451.001,415.001,387.00
Receivables - Other------.00153.00
Total Receivables, Net1,604.001,498.001,451.001,415.001,540.00
Inventories - Finished Goods260.00220.00225.00230.00193.00
Inventories - Raw Materials192.00166.00178.00137.0095.00
Total Inventory452.00386.00403.00367.00288.00
Prepaid Expenses------127.00124.00
Deferred Income Tax - Current Asset31.00--------
Other Current Assets138.00157.00148.00----
Other Current Assets, Total169.00157.00148.00----
Total Current Assets2,568.002,762.002,686.002,230.002,356.00
Buildings - Gross1,024.00948.00880.00887.00773.00
Land / Improvements - Gross166.00161.00154.00157.00125.00
Machinery / Equipment - Gross3,604.003,349.003,049.002,933.002,831.00
Other Property / Plant / Equipment - Gross431.00379.00320.00291.00243.00
Property / Plant / Equipment, Total - Gross5,225.004,837.004,403.004,268.003,972.00
Accumulated Depreciation, Total-3,050.00-2,756.00-2,387.00-2,172.00-2,188.00
Property / Plant / Equipment, Total - Net2,353.002,322.002,230.002,220.001,883.00
Goodwill, Net124.00132.00124.00131.00.00
Intangibles, Net4,004.003,923.003,771.003,828.003,487.00
Defered Income Tax - Long Term Asset260.00--------
Other Long Term Assets216.00371.00283.00187.00246.00
Other Long Term Assets, Total476.00371.00283.00187.00246.00
Total Assets9,525.009,510.009,094.008,596.007,972.00
Accounts Payable631.00565.00589.00606.00570.00
Payable / Accrued--784.00705.00----
Accrued Expenses1,183.00288.00262.001,035.00872.00
Notes Payable / Short Term Debt.00.00.00.00.00
Current Portion of Long Term Debt / Capital Leases111.00632.0016.00162.00620.00
Income Taxes Payable229.00262.00239.00139.00130.00
Deferred Income Tax - Current Liability6.00--------
Other Current Liabilities35.0048.0037.00----
Other Current liabilities, Total270.00310.00276.00139.00130.00
Total Current Liabilities2,195.002,579.001,848.001,942.002,192.00
Long Term Debt3,695.002,834.002,996.002,124.00235.00
Capital Lease Obligations31.00--------
Total Long Term Debt3,726.002,834.002,996.002,124.00235.00
Total Debt3,837.003,466.003,012.002,286.00855.00
Deferred Income Tax � Long Term Liability1,103.001,128.001,191.001,238.001,172.00
Deferred Income Tax1,103.001,128.001,191.001,238.001,172.00
Other Long Term Liabilities221.00276.00160.00149.001,194.00
Other Liabilities, Total221.00276.00160.00149.001,194.00
Total Liabilities7,245.006,817.006,195.005,453.004,793.00
Common Stock3.003.003.003.003,367.00
Common Stock, Total3.003.003.003.003,367.00
Additional Paid-In Capital3,899.003,825.003,745.003,628.00.00
Retained Earnings (Accumulated Deficit)1,577.001,126.00638.0057.00.00
Treasury Stock - Common-2,868.00-1,831.00-1,014.00-200.00.00
Translation Adjustment41.00-41.00-216.00-142.0036.00
Minimum Pension Liability Adjustment-311.00-353.00-258.00-198.00-228.00
Other Comprehensive Income-61.00-36.001.00-5.004.00
Other Equity, Total-331.00-430.00-473.00-345.00-188.00
Total Equity2,280.002,693.002,899.003,143.003,179.00
Total Liabilities & Shareholders' Equity9,525.009,510.009,094.008,596.007,972.00
Shares Outstanding - Common Stock Primary Issue257.60282.04304.95332.56491.33
Total Common Shares Outstanding257.60282.04304.95332.56491.33
Treasury Shares - Common Stock Primary Issue94.7866.7238.458.00--
Employees11,750.0013,000.0013,250.0013,500.0070,000.00
Number of Common Shareholders13,279.0013,822.0014,171.0014,399.0013,206.00
Total Current Assets less Inventory2,116.002,376.002,283.001,863.002,068.00
Quick Ratio.96.921.24.96.94
Current Ratio1.171.071.451.151.07
Net Debt3,494.002,745.002,328.001,965.00451.00
Tangible Book Value-1,848.00-1,362.00-996.00-816.00-308.00
Tangible Book Value per Share-7.17-4.83-3.27-2.45-.63
Total Long Term Debt, Supplemental3,806.003,427.002,955.002,220.00--
Long Term Debt Maturing within 1 Year100.00619.00.00145.00--
Long Term Debt Maturing in Year 2475.00100.00613.00.00--
Long Term Debt Maturing in Year 3250.00474.00100.00613.00--
Long Term Debt Maturing in Year 4480.00250.00473.00.00--
Long Term Debt Maturing in Year 5.00460.00250.00473.00--
Long Term Debt Maturing in 2-3 Years725.00574.00713.00613.00--
Long Term Debt Maturing in 4-5 Years480.00710.00723.00473.00--
Long Term Debt Maturing in Year 6 & Beyond2,501.001,524.001,519.00989.00--
Interest Costs-9.00-5.00-7.00-9.00--
Total Capital Leases, Supplemental31.0039.0057.0066.00--
Capital Lease Payments Due in Year 112.0014.0018.0019.00--
Capital Lease Payments Due in Year 211.0011.0019.0021.00--
Capital Lease Payments Due in Year 39.008.0010.0011.00--
Capital Lease Payments Due in Year 44.004.008.009.00--
Capital Lease Payments Due in Year 52.003.003.007.00--
Capital Lease Payments Due in 2-3 Years20.0019.0029.0032.00--
Capital Lease Payments Due in 4-5 Years6.007.0011.0016.00--
Capital Lease Payments Due in Year 6 & Beyond2.004.006.008.00--
Total Operating Leases, Supplemental388.00395.00406.00311.00--
Operating Lease Payments Due in Year 184.0088.0078.0068.00--
Operating Lease Payments Due in Year 260.0072.0077.0062.00--
Operating Lease Payments Due in Year 355.0055.0064.0056.00--
Operating Lease Payments Due in Year 455.0052.0051.0051.00--
Operating Lease Payments Due in Year 554.0052.0051.0045.00--
Operating Lease Payments Due in 2-3 Years115.00127.00141.00118.00--
Operating Lease Payments Due in 4-5 Years109.00104.00102.0096.00--
Operating Lease Payments Due in Year 6 & Beyond80.0076.0085.0029.00--
Pension Obligation - Domestic1,475.001,408.001,115.00986.00943.00
Plan Assets - Domestic1,466.001,318.001,078.001,001.00838.00
Funded Status - Domestic-9.00-90.00-37.0015.00-105.00
Accumulated Obligation - Domestic1,200.001,100.00907.00774.00707.00
Total Funded Status-9.00-90.00-37.0015.00-105.00
Discount Rate - Domestic4.404.205.005.606.30
Discount Rate - Post-Retirement------5.505.60
Compensation Rate - Domestic3.503.403.604.003.80
Prepaid Benefits - Domestic80.0041.0030.0078.004.00
Accrued Liabilities - Domestic-89.00-131.00-67.00-63.00-109.00
Other Assets, Net - Domestic396.00438.00290.00216.00265.00
Net Assets Recognized on Balance Sheet387.00348.00253.00231.00160.00
Equity % - Domestic59.0054.0054.0060.0066.00
Debt Securities % - Domestic27.0033.0034.0023.0018.00
Private Investments % - Domestic.002.00.005.004.00
Other Investments % - Domestic14.0011.0012.0012.0012.00
Total Plan Obligations1,475.001,408.001,115.00986.00943.00
Total Plan Assets1,466.001,318.001,078.001,001.00838.00
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