| (Dollars in millions, except per share) | 1995 | 1994 | 1993 | 1992 | 1991 |
| Earnings Statistics | |||||
| Net sales | $ 4,867.5 | $ 4,819.4 | $ 4,323.4 | $ 4,007.9 | $ 4,317.9 |
| Costs and Expenses: | |||||
| Employment costs | 1,683.5 | 1,633.0 | 1,547.1 | 1,664.0 | 1,720.8 |
| Materials and services | 2,592.7 | 2,754.8 | 2,404.2 | 2,242.0 | 2,444.3 |
| Depreciation | 284.0 | 261.1 | 277.5 | 261.7 | 241.4 |
| Taxes (other than employment and income taxes) | 38.4 | 36.9 | 39.8 | 43.2 | 51.3 |
| Estimated restructuring losses | - | - | 350.0 | - | 635.0 |
| Total Costs and Expenses | 4,598.6 | 4,685.8 | 4,618.6 | 4,210.9 | 5,092.8 |
| Income (loss) from operations | 268.9 | 133.6 | (295.2) | (203.0) | (774.9) |
| Financing income (expense): | |||||
| Interest and other financing costs | (60.0) | (46.2) | (63.2) | (57.2) | (45.5) |
| Interest income | 7.7 | 7.1 | 7.1 | 4.9 | 9.7 |
| Benefit (provision) for income taxes | (37.0) | (14.0) | 85.0 | 45.0 | (2.0) |
| Cumulative effect of changes in accounting | - | - | - | (340.0) | - |
| Net income (loss) | 179.6 | 80.5 | (266.3) | (550.3) | (812.7) |
| Dividends on Preferred and Preference Stock | 42.4 | 43.1 | 39.8 | 24.3 | 24.7 |
| Net income (loss) applicable to Common Stock | $ 137.2 | $ 37.4 | $ (306.1) | $ (574.6) | $ (837.4) |
| Net income (loss) per Common share | $ 1.24 | $ .35 | $ (3.37) | $ (7.01) | $ (11.01) |
| Dividends per Common share | - | - | - | - | .40 |
| Dividends paid on Common Stock | - | - | - | - | 30.4 |
| Balance Sheet Statistics | |||||
| Cash and cash equivalents | $ 180.0 | $ 159.5 | $ 228.9 | $ 208.2 | $ 83.8 |
| Receivables, inventories and other current assets | 1,345.8 | 1,409.6 | 1,362.2 | 1,261.3 | 1,454.0 |
| Current liabilities | (1,049.6) | (1,011.2) | (914.2) | (893.2) | (931.0) |
| Working capital | $ 476.2 | $ 557.9 | $ 676.9 | $ 576.3 | $ 606.8 |
| Current ratio | 1.5 | 1.6 | 1.7 | 1.6 | 1.7 |
| Property, plant and equipment - net | $ 2,714.2 | $ 2,759.3 | $ 2,634.3 | $ 2,804.5 | $ 2,864.8 |
| Total assets | 5,700.3 | 5,782.4 | 5,876.7 | 5,493.0 | 4,708.3 |
| Total debt and capital lease obligations | 638.3 | 757.3 | 813.8 | 796.0 | 871.2 |
| Stockholders' equity | 1,238.3 | 1,155.8 | 696.6 | 789.4 | 1,186.1 |
| Total debt as a percent of invested capital | 34 % | 40 % | 54 % | 50 % | 42 % |
| Other Statistics | |||||
| Capital expenditures | $ 266.8 | $ 444.6 | $ 327.1 | $ 328.7 | $ 563.9 |
| Raw steel production capability (net tons in thousands) | 11,500 | 11,500 | 11,500 | 16,000 | 16,000 |
| Raw steel production (net tons in thousands) | 10,449 | 9,817 | 10,303 | 10,544 | 10,022 |
| Steel products shipped (net tons in thousands) | 8,986 | 9,262 | 9,016 | 9,062 | 8,376 |
| Pensioners receiving benefits at year end | 71,000 | 71,700 | 70,900 | 70,500 | 70,200 |
| Average number of employees receiving pay | 19,500 | 19,900 | 20,700 | 24,900 | 27,500 |
| Common Stock outstanding at year end (shares in thousands) |
110,708 | 109,886 | 91,409 | 90,509 | 76,380 |
| Common stockholders at year end | 39,000 | 41,000 | 43,000 | 46,000 | 50,000 |
Financial Highlights
Chairman's Letter
Business Units and Facilities
Financial Review and Operating Analysis
Financial Statements
Financial Notes
Report of Auditors and Management Statement
Directors and Officers
Stockholder Information
Main Menu
Investor Relations
Business Units
Commercial Information
Environment
History
Vision Statement
Public Affairs
Research