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 |
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