Annual Income Statement Whitehex
cybacatx
whitehex.xlsxIncome_statement
| Annual Income Statement | ||
| Period Ended | 12/31/09 | 12/31/08 |
| In millions of USD (except for per share items) | ||
| Net Sales | 21,990.30 | 22,325.89 |
| Revenue | 21,990.30 | 22,325.89 |
| Total Revenue | 21,990.30 | 22,325.89 |
| Cost of Revenue | 20,689.16 | 21,081.87 |
| Cost of Revenue, Total | 20,689.16 | 21,081.87 |
| Gross Profit | 1,301.14 | 1,244.02 |
| Selling / General / Administrative Expense | 178.52 | 229.69 |
| Selling / General / Administrative Expenses, Total | 178.52 | 229.69 |
| Interest Expense - Operating | 10.05 | 18.44 |
| Interest Expense, Net - Operating | 10.05 | 18.44 |
| Interest Income - Operating | -24.23 | -66.59 |
| Investment Income - Operating | 0 | -79.21 |
| Interest / Investment Income - Operating | -24.23 | -145.8 |
| Interest Expense (Income), Net-Operating, Total | -14.17 | -127.36 |
| Impairment-Assets Held for Sale | -- | -- |
| Unusual Expense (Income) | -- | -- |
| Loss(Gain) on Sale of Assets - Operating | -- | -- |
| Other, Net | -- | -- |
| Other Operating Expenses, Total | -- | -- |
| Total Operating Expense | 20,853.51 | 21,184.20 |
| Operating Income | 1,136.79 | 1,141.69 |
| Net Income Before Taxes | 1,136.79 | 1,141.69 |
| Provision for Income Taxes | 403.91 | 392.79 |
| Net Income After Taxes | 732.88 | 748.9 |
| Minority Interest | -47.99 | -32.84 |
| Net Income Before Extraordinary Items | 684.89 | 716.06 |
| Net Income | 684.89 | 716.06 |
| Miscellaneous Earnings Adjustment | -6.16 | -6.45 |
| Total Adjustments to Net Income | -6.16 | -6.45 |
| Income Available to Common Excluding Extraordinary Items | 678.73 | 709.62 |
| Income Available to Common Stocks Including Extraordinary Items | 678.73 | 709.62 |
| Basic Weighted Average Shares | 179.1 | 177.66 |
| Basic EPS Excluding Extraordinary Items | 3.79 | 3.99 |
| Basic EPS Including Extraordinary Items | 3.79 | 3.99 |
| Dilution Adjustment | 0 | 0 |
| Diluted Net Income | 678.73 | 709.62 |
| Diluted Weighted Average Shares | 180.86 | 182.61 |
| Diluted EPS Excluding Extraordinary Items | 3.75 | 3.89 |
| Diluted EPS Including Extraordinary Items | 3.75 | 3.89 |
| DPS - Common Stock Primary Issue | 0.5 | 0.5 |
| Gross Dividends - Common Stock | 90.4 | 89.93 |
| Pro Forma Stock Compensation Expense | -- | -- |
| Net Income after Stock Based Compensation Expense | -- | -- |
| Basic EPS after Stock Based Compensation Expense | -- | -- |
| Diluted EPS after Stock Based Compensation Expense | -- | -- |
| Stock-Based Compensation, Supplemental | 23 | 25 |
| Interest Expense, Supplemental | 10.05 | 18.44 |
| Depreciation, Supplemental | 180.85 | 161.56 |
| (Gain) Loss on Sale of Assets, Supplemental | 0 | 0.02 |
| Other Unusual Expense (Income), Supplemental | 0 | 0 |
| Non-Recurring Items, Total | 0 | 0.02 |
| Total Special Items | 0 | 0.02 |
| Normalized Income Before Taxes | 1,136.79 | 1,141.71 |
| Effect of Special Items on Income Taxes | 0 | 0.01 |
| Income Taxes Excluding Impact of Special Items | 403.91 | 392.8 |
| Normalized Income After Taxes | 732.88 | 748.91 |
| Normalized Income Available to Common | 678.73 | 709.63 |
| Basic Normalized EPS | 3.79 | 3.99 |
| Diluted Normalized EPS | 3.75 | 3.89 |
| Amortization of Intangibles, Supplemental | 1.16 | 1.74 |
| Rental Expense, Supplemental | 220 | 213 |
| Minority Interest, Supplemental | -47.99 | -32.84 |
| Audit Fees | 6.7 | 7 |
| Audit-Related Fees | 0.7 | 0.8 |
| Tax Fees | 0.4 | 0.2 |
| All Other Fees | 0 | 0 |
| Gross Margin | 5.92 | 5.57 |
| Operating Margin | 5.17 | 5.11 |
| Pretax Margin | 5.17 | 5.11 |
| Effective Tax Rate | 35.53 | 34.4 |
| Net Profit Margin | 3.09 | 3.18 |
| Normalized EBIT | 1,122.62 | 1,014.35 |
| Normalized EBITDA | 1,304.63 | 1,177.66 |
| Current Tax - Domestic | 289.3 | 181.84 |
| Current Tax - Foreign | 63.27 | 136.8 |
| Current Tax - Local | 21.19 | 19.15 |
| Current Tax - Total | 373.76 | 337.79 |
| Deferred Tax - Domestic | 10.29 | 41.02 |
| Deferred Tax - Foreign | 12.51 | 5.5 |
| Deferred Tax - Local | 7.35 | 8.48 |
| Deferred Tax - Total | 30.15 | 55 |
| Income Tax - Total | 403.91 | 392.79 |
| Interest Cost - Domestic | 63.94 | 60.91 |
| Service Cost - Domestic | 46.5 | 37.92 |
| Prior Service Cost - Domestic | 0.01 | 0.01 |
| Expected Return on Assets - Domestic | -69.26 | -76.91 |
| Actuarial Gains and Losses - Domestic | 37.3 | 14.08 |
| Transition Costs - Domestic | -- | -- |
| Domestic Pension Plan Expense | 78.5 | 36.01 |
| Interest Cost - Post-Retirement | 1.39 | 1.4 |
| Actuarial Gains and Losses - Post-Retirement | 0.79 | 1.41 |
| Other Post-Retirement, Net | 0 | 0 |
| Post-Retirement Plan Expense | 2.18 | 2.81 |
| Defined Contribution Expense - Domestic | 99 | 98 |
| Total Pension Expense | 179.68 | 136.82 |
| Discount Rate - Domestic | 4.75 | 5.5 |
| Discount Rate - Post-Retirement | 7 | 7 |
| Expected Rate of Return - Domestic | 5 | 5 |
| Compensation Rate - Domestic | 3 | 3 |
| Total Plan Interest Cost | 65.34 | 62.31 |
| Total Plan Service Cost | 46.5 | 37.92 |
| Total Plan Expected Return | -69.26 | -76.91 |
| Total Plan Other Expense | 0 | 0 |
Balance_sheet
| Annual Balance Sheet | ||
| Period Ended | 12/31/09 | 12/31/08 |
| In millions of USD (except for per share items) | ||
| Cash & Equivalents | 1,687.03 | 1,834.32 |
| Short Term Investments | 603.59 | 273.57 |
| Cash and Short Term Investments | 2,290.62 | 2,107.89 |
| Accounts Receivable - Trade, Net | 988.99 | 1,227.22 |
| Total Receivables, Net | 988.99 | 1,227.22 |
| Inventories - Work In Progress | 1,405.79 | 981.13 |
| Total Inventory | 1,405.79 | 981.13 |
| Deferred Income Tax - Current Asset | 131.1 | 148.13 |
| Other Current Assets | 305.59 | 204.14 |
| Other Current Assets, Total | 436.69 | 352.28 |
| Total Current Assets | 5,122.09 | 4,668.52 |
| Buildings - Gross | 368.24 | 345.14 |
| Land / Improvements - Gross | 48.5 | 46.03 |
| Machinery / Equipment - Gross | 1,207.75 | 1,087.46 |
| Construction in Progress - Gross | 30.53 | 17.51 |
| Property / Plant / Equipment, Total - Gross | 1,655.01 | 1,496.14 |
| Accumulated Depreciation, Total | -817.98 | -696.31 |
| Property / Plant / Equipment, Total - Net | 837.03 | 799.84 |
| Goodwill, Net | 88.06 | 87.17 |
| LT Investments - Other | 520.45 | 214.85 |
| Long Term Investments | 520.45 | 214.85 |
| Pension Benefits - Overfunded | -- | -- |
| Defered Income Tax - Long Term Asset | 247.52 | 386.61 |
| Other Long Term Assets | 363.34 | 266.59 |
| Other Long Term Assets, Total | 610.86 | 653.21 |
| Total Assets | 7,178.48 | 6,423.58 |
| Accounts Payable | 1,334.30 | 1,164.56 |
| Accrued Expenses | 876.87 | 865.37 |
| Notes Payable / Short Term Debt | 109.79 | 133.19 |
| Current Portion of Long Term Debt / Capital Leases | -- | -- |
| Customer Advances | 980.44 | 999.11 |
| Other Current liabilities, Total | 980.44 | 999.11 |
| Total Current Liabilities | 3,301.40 | 3,162.23 |
| Long Term Debt | 17.74 | 17.72 |
| Total Long Term Debt | 17.74 | 17.72 |
| Total Debt | 127.53 | 150.92 |
| Minority Interest | 28.36 | 51.86 |
| Other Long Term Liabilities | 525.45 | 520.45 |
| Other Liabilities, Total | 525.45 | 520.45 |
| Total Liabilities | 3,872.95 | 3,752.26 |
| Common Stock | 1.79 | 1.82 |
| Common Stock, Total | 1.79 | 1.82 |
| Additional Paid-In Capital | 682.3 | 778.54 |
| Retained Earnings (Accumulated Deficit) | 2,842.43 | 2,247.94 |
| ESOP Debt Guarantee | -- | -- |
| Other Comprehensive Income | -220.99 | -356.97 |
| Other Equity, Total | -220.99 | -356.97 |
| Total Equity | 3,305.53 | 2,671.32 |
| Total Liabilities & Shareholders' Equity | 7,178.48 | 6,423.58 |
| Shares Outstanding - Common Stock Primary Issue | 178.82 | 181.56 |
| Total Common Shares Outstanding | 178.82 | 181.56 |
| Treasury Shares - Common Stock Primary Issue | 0 | 0 |
| Employees | 24,943.00 | 27,958.00 |
| Number of Common Shareholders | 7,317.00 | 7,561.00 |
| Deferred Revenue - Current | 980.44 | 999.11 |
| Total Current Assets less Inventory | 3,716.30 | 3,687.39 |
| Quick Ratio | 1.13 | 1.17 |
| Current Ratio | 1.55 | 1.48 |
| Net Debt | -2,134.73 | -1,905.12 |
| Tangible Book Value | 3,217.48 | 2,584.15 |
| Tangible Book Value per Share | 17.99 | 14.23 |
| Total Long Term Debt, Supplemental | 128 | 152 |
| Long Term Debt Maturing within 1 Year | 110 | 134 |
| Long Term Debt Maturing in Year 2 | 0 | 0 |
| Long Term Debt Maturing in Year 3 | 0 | 0 |
| Long Term Debt Maturing in Year 4 | 0 | 0 |
| Long Term Debt Maturing in Year 5 | 0 | 0 |
| Long Term Debt Maturing in 2-3 Years | 0 | 0 |
| Long Term Debt Maturing in 4-5 Years | 0 | 0 |
| Long Term Debt Maturing in Year 6 & Beyond | 18 | 18 |
| Total Operating Leases, Supplemental | 300.32 | 322.9 |
| Operating Lease Payments Due in Year 1 | 4.92 | 57.1 |
| Operating Lease Payments Due in Year 2 | 56.1 | 57.1 |
| Operating Lease Payments Due in Year 3 | 46.3 | 48.4 |
| Operating Lease Payments Due in Year 4 | 30.5 | 35.8 |
| Operating Lease Payments Due in Year 5 | 23.6 | 23.2 |
| Operating Lease Payments Due in 2-3 Years | 102.4 | 105.5 |
| Operating Lease Payments Due in 4-5 Years | 54.1 | 59 |
| Operating Lease Payments Due in Year 6 & Beyond | 138.9 | 101.3 |
| Pension Obligation - Domestic | 1,198.81 | 1,048.87 |
| Post-Retirement Obligation | 19.74 | 21.77 |
| Plan Assets - Domestic | 1,192.20 | 996.59 |
| Funded Status - Domestic | -6.61 | -52.28 |
| Funded Status - Post-Retirement | -19.74 | -21.77 |
| Accumulated Obligation - Post-Retirement | -19.74 | 21.77 |
| Total Funded Status | -26.36 | -74.05 |
| Discount Rate - Domestic | 5.75 | 4.75 |
| Discount Rate - Post-Retirement | 5.25 | 7 |
| Compensation Rate - Domestic | 30 | 3 |
| Prepaid Benefits - Domestic | 30.97 | 0 |
| Accrued Liabilities - Domestic | -37.58 | -52.28 |
| Accrued Liabilities - Post-Retirement | -19.74 | -21.77 |
| Other Assets, Net - Domestic | 390.57 | 468.61 |
| Net Assets Recognized on Balance Sheet | 364.22 | 394.56 |
| Equity % - Domestic | 35 | 35 |
| Equity % - Foreign | -- | -- |
| Debt Securities % - Domestic | 60 | 53 |
| Debt Securities % - Foreign | -- | -- |
| Real Estate % - Domestic | -- | -- |
| Real Estate % - Foreign | -- | -- |
| Other Investments % - Domestic | 5 | 12 |
| Other Investments % - Foreign | -- | -- |
| Total Plan Obligations | 1,218.55 | 1,070.63 |
| Total Plan Assets | 1,192.20 | 996.59 |
| Value of Bookings | 18,500.00 | 25,100.00 |
| Value of Backlog | 26,778.80 | 33,245.30 |
Cash_flow_statement
| Annual Cash Flow Statement | ||
| Period Ended | 12/31/09 | 12/31/08 |
| In millions of USD (except for per share items) | ||
| Net Income / Starting Line | 732.88 | 748.9 |
| Depreciation | 180.85 | 161.56 |
| Depreciation / Depletion | 180.85 | 161.56 |
| Amortization of Intangibles | 1.16 | 1.74 |
| Amortization | 1.16 | 1.74 |
| Deferred Taxes | 74.66 | 62.95 |
| Unusual Items | 0 | 16.37 |
| Equity in Net Earnings (Loss) | -3.7 | -91.22 |
| Other Non-Cash Items | 63.04 | -191.8 |
| Non-Cash Items | 59.34 | -266.65 |
| Accounts Receivable | 281.81 | -380.24 |
| Inventories | -359.99 | 35.65 |
| Other Assets | -13.74 | 123.02 |
| Accounts Payable | 135.23 | 159.72 |
| Accrued Expenses | -70.32 | 150.26 |
| Other Liabilities | -116.92 | 184.98 |
| Other Operating Cash Flow | -5.64 | -7.27 |
| Changes in Working Capital | -149.58 | 266.12 |
| Cash from Operating Activities | 899.31 | 974.62 |
| Purchase of Fixed Assets | -233.11 | -299.61 |
| Capital Expenditures | -233.11 | -299.61 |
| Acquisition of Business | 0 | -12.5 |
| Sale of Fixed Assets | 37.57 | 48.5 |
| Sale / Maturity of Investment | 1,039.68 | 1,636.80 |
| Investment, Net | -1.68 | -2.29 |
| Purchase of Investments | -1,663.01 | -1,346.34 |
| Other Investing Cash Flow | 2.5 | -2.03 |
| Other Investing Cash Flow Items, Total | -584.95 | 322.14 |
| Cash from Investing Activities | -818.06 | 22.53 |
| Other Financing Cash Flow | -80.07 | -6.41 |
| Financing Cash Flow Items | -80.07 | -6.41 |
| Cash Dividends Paid - Common | -90.69 | -89.93 |
| Total Cash Dividends Paid | -90.69 | -89.93 |
| Sale / Issuance of Common | 0 | 3.78 |
| Repurchase / Retirement of Common | -125.42 | -0.37 |
| Common Stock, Net | -125.42 | 3.41 |
| Options Exercised | 2.67 | 13.38 |
| Issuance (Retirement) of Stock, Net | -122.75 | 16.79 |
| Short Term Debt, Net | -- | -- |
| Long Term Debt Issued | 0 | 0 |
| Long Term Debt Reduction | -23.79 | -173.64 |
| Long Term Debt, Net | -23.79 | -173.64 |
| Issuance (Retirement) of Debt, Net | -23.79 | -173.64 |
| Cash from Financing Activities | -317.3 | -253.2 |
| Foreign Exchange Effects | 88.75 | -84.78 |
| Net Change in Cash | -147.3 | 659.18 |
| Net Cash - Beginning Balance | 1,834.32 | 1,175.14 |
| Net Cash - Ending Balance | 1,687.03 | 1,834.32 |
| Cash Interest Paid | 9.19 | 12.21 |
| Cash Taxes Paid | 417.84 | 319.67 |
