Five-Year Financial and Operating Summaries
| (Dollars in millions, except per share) |
1996 |
1995 |
1994 |
1993 |
1992 |
| Earnings Statistics |
|
|
|
|
|
| Net sales |
$ 4,679.0 |
$ 4,867.5 |
$ 4,819.4 |
$ 4,323.4 |
$ 4,007.9 |
|
|
|
|
|
|
| Costs and Expenses: |
|
|
|
|
|
| Employment costs |
1,555.0 |
1,683.5 |
1,633.0 |
1,547.1 |
1,664.0 |
| Materials and services |
2,680.6 |
2,592.7 |
2,754.8 |
2,404.2 |
2,242.0 |
| Depreciation |
268.7 |
284.0 |
261.1 |
277.5 |
261.7 |
| Taxes (other than employment and income taxes) |
38.1 |
38.4 |
36.9 |
39.8 |
43.2 |
| Estimated restructuring losses |
465.0 |
- |
- |
350.0 |
- |
| Total Costs and Expenses |
5,007.4 |
4,598.6 |
4,685.8 |
4,618.6 |
4,210.9 |
| Income (loss) from operations |
(328.4) |
268.9 |
133.6 |
(295.2) |
(203.0) |
| Financing income (expense): |
|
|
|
|
|
| Interest and other financing costs |
(53.3) |
(60.0) |
(46.2) |
(63.2) |
(57.2) |
| Interest income |
5.9 |
7.7 |
7.1 |
7.1 |
4.9 |
| Benefit (provision) for income taxes |
67.0 |
(37.0) |
(14.0) |
85.0 |
45.0 |
| Cumulative effect of changes in accounting |
- |
- |
- |
- |
(340.0) |
| Net income (loss) |
(308.8) |
179.6 |
80.5 |
(266.3) |
(550.3) |
| Dividends on Preferred and Preference Stock |
41.9 |
42.4 |
43.1 |
39.8 |
24.3 |
| Net income (loss) applicable to Common Stock |
$(350.7) |
$ 137.2 |
$37.4 |
$(306.1) |
$(574.6) |
| Net income (loss) per Common share |
$(3.15) |
$1.24 |
$.35 |
$(3.37) |
$(7.01) |
| Balance Sheet Statistics |
|
|
|
|
|
| Cash and cash equivalents |
$ 136.6 |
$180.0 |
$159.5 |
$228.9 |
$208.2 |
| Receivables, inventories and other current assets |
1,351.8 |
1,345.8 |
1,409.6 |
1,362.2 |
1,261.3 |
| Current liabilities |
(957.4) |
(1,049.6) |
(1,011.2) |
(914.2) |
(893.2) |
| Working capital |
$ 531.0 |
$ 476.2 |
$ 557.9 |
$ 676.9 |
$ 576.3 |
| Current ratio |
1.6 |
1.5 |
1.6 |
1.7 |
1.6 |
| Property, plant and equipment - net |
$2,419.8 |
$2,714.2 |
$2,759.3 |
$2,634.3 |
$2,804.5 |
| Total assets |
5,109.9 |
5,700.3 |
5,782.4 |
5,876.7 |
5,493.0 |
| Total debt and capital lease obligations |
546.7 |
638.3 |
757.3 |
813.8 |
796.0 |
| Stockholders' equity |
966.0 |
1,238.3 |
1,155.8 |
696.6 |
789.4 |
| Total debt as a percent of invested capital |
36 % |
34 % |
40 % |
54 % |
50 % |
| Other Statistics |
|
|
|
|
|
| Capital expenditures |
$259.0 |
$ 266.8 |
$ 444.6 |
$ 327.1 |
$ 328.7 |
| Raw steel production capability (net tons in thousands) |
10,500 |
11,500 |
11,500 |
11,500 |
16,000 |
| Raw steel production (net tons in thousands) |
9,447 |
10,449 |
9,817 |
10,303 |
10,544 |
| Steel products shipped (net tons in thousands) |
8,782 |
8,986 |
9,262 |
9,016 |
9,062 |
| Pensioners receiving benefits at year end |
70,100 |
71,000 |
71,700 |
70,900 |
70,500 |
| Average number of employees receiving pay |
17,800 |
19,500 |
19,900 |
20,700 |
24,900 |
Common Stock outstanding at year end
(shares in thousands) |
111,834 |
110,708 |
109,886 |
91,409 |
90,509 |
| Common stockholders at year end |
37,000 |
39,000 |
41,000 |
43,000 |
46,000 |
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
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