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Alcoa Corp

2017 Q4 Form 10-Q Financial Statement

#000119312517322992 Filed on October 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $3.174B $2.964B $2.329B
YoY Change 25.11% 27.26% -13.06%
Cost Of Revenue $2.237B $2.340B $1.968B
YoY Change 4.68% 18.9% -12.1%
Gross Profit $937.0M $624.0M $361.0M
YoY Change 134.25% 72.85% -17.95%
Gross Profit Margin 29.52% 21.05% 15.5%
Selling, General & Admin $66.00M $70.00M $92.00M
YoY Change -15.38% -23.91% -3.16%
% of Gross Profit 7.04% 11.22% 25.48%
Research & Development $9.000M $8.000M $8.000M
YoY Change 28.57% 0.0% -42.86%
% of Gross Profit 0.96% 1.28% 2.22%
Depreciation & Amortization $188.0M $194.0M $181.0M
YoY Change 3.3% 7.18% -4.74%
% of Gross Profit 20.06% 31.09% 50.14%
Operating Expenses $262.0M $78.00M $100.0M
YoY Change -1.87% -22.0% -8.26%
Operating Profit $675.0M $546.0M $261.0M
YoY Change 407.52% 109.2% -21.15%
Interest Expense -$36.00M $26.00M $67.00M
YoY Change -25.0% -61.19% -2.9%
% of Operating Profit -5.33% 4.76% 25.67%
Other Income/Expense, Net -$86.00M -$48.00M $106.0M
YoY Change -8700.0% -145.28% -2750.0%
Pretax Income $257.0M $288.0M $102.0M
YoY Change -287.59% 182.35% 628.57%
Income Tax $264.0M $119.0M $92.00M
% Of Pretax Income 102.72% 41.32% 90.2%
Net Earnings -$196.0M $113.0M -$10.00M
YoY Change 56.8% -1230.0% -91.94%
Net Earnings / Revenue -6.18% 3.81% -0.43%
Basic Earnings Per Share -$1.06 $0.61 -$0.06
Diluted Earnings Per Share -$1.06 $0.60 -$0.06
COMMON SHARES
Basic Shares Outstanding 185.0M shares 185.0M shares 182.5M shares
Diluted Shares Outstanding 187.0M shares 182.0M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.358B $1.119B $241.0M
YoY Change 59.2% 364.32%
Cash & Equivalents $1.358B $1.119B $241.0M
Short-Term Investments
Other Short-Term Assets $384.0M $329.0M $1.497B
YoY Change 14.97% -78.02%
Inventory $1.453B $1.323B $1.192B
Prepaid Expenses
Receivables $811.0M $840.0M $530.0M
Other Receivables $232.0M $193.0M $162.0M
Total Short-Term Assets $4.238B $3.804B $3.622B
YoY Change 33.23% 5.02%
LONG-TERM ASSETS
Property, Plant & Equipment $9.138B $9.282B $9.609B
YoY Change -2.01% -3.4%
Goodwill $989.0M $155.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $1.410B $1.408B $1.362B
YoY Change 3.83% 3.38%
Other Assets $1.719B $1.745B $1.534B
YoY Change 3.06% 13.75%
Total Long-Term Assets $13.21B $13.45B $13.68B
YoY Change -2.59% -1.7%
TOTAL ASSETS
Total Short-Term Assets $4.238B $3.804B $3.622B
Total Long-Term Assets $13.21B $13.45B $13.68B
Total Assets $17.45B $17.25B $17.31B
YoY Change 4.22% -0.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.898B $1.618B $1.252B
YoY Change 30.45% 29.23%
Accrued Expenses $459.0M $450.0M $433.0M
YoY Change 0.66% 3.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.00M $17.00M $21.00M
YoY Change -23.81% -19.05%
Total Short-Term Liabilities $3.252B $2.766B $2.206B
YoY Change 15.28% 25.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.388B $1.384B $1.457B
YoY Change -2.53% -5.01%
Other Long-Term Liabilities $5.700B $4.668B $4.165B
YoY Change 26.98% 12.08%
Total Long-Term Liabilities $1.388B $6.052B $5.622B
YoY Change -2.53% 7.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.252B $2.766B $2.206B
Total Long-Term Liabilities $1.388B $6.052B $5.622B
Total Liabilities $10.65B $9.136B $8.179B
YoY Change 17.75% 11.7%
SHAREHOLDERS EQUITY
Retained Earnings $113.0M $309.0M
YoY Change -208.65%
Common Stock $9.592B $9.586B
YoY Change 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.523B $5.862B $6.980B
YoY Change
Total Liabilities & Shareholders Equity $17.45B $17.25B $17.31B
YoY Change 4.22% -0.29%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$196.0M $113.0M -$10.00M
YoY Change 56.8% -1230.0% -91.94%
Depreciation, Depletion And Amortization $188.0M $194.0M $181.0M
YoY Change 3.3% 7.18% -4.74%
Cash From Operating Activities $455.0M $384.0M -$99.00M
YoY Change 90.38% -487.88% -131.83%
INVESTING ACTIVITIES
Capital Expenditures -$150.0M -$96.00M -$73.00M
YoY Change 2.74% 31.51% -27.72%
Acquisitions
YoY Change
Other Investing Activities -$20.00M -$8.000M $111.0M
YoY Change -101.63% -107.21% -1025.0%
Cash From Investing Activities -$170.0M -$104.0M $38.00M
YoY Change -115.71% -373.68% -133.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.00M -115.0M -35.00M
YoY Change -92.41% 228.57% -185.37%
NET CHANGE
Cash From Operating Activities 455.0M 384.0M -99.00M
Cash From Investing Activities -170.0M -104.0M 38.00M
Cash From Financing Activities -53.00M -115.0M -35.00M
Net Change In Cash 232.0M 165.0M -96.00M
YoY Change -62.76% -271.88% -140.17%
FREE CASH FLOW
Cash From Operating Activities $455.0M $384.0M -$99.00M
Capital Expenditures -$150.0M -$96.00M -$73.00M
Free Cash Flow $605.0M $480.0M -$26.00M
YoY Change 57.14% -1946.15% -106.31%

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CY2017Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6000000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
187000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
185000000 shares
CY2017Q3 aa Adjusted Ebitda
AdjustedEbitda
619000000
CY2017Q3 aa Income Tax Reconciliation Net Operating Loss Adjustments
IncomeTaxReconciliationNetOperatingLossAdjustments
8000000
CY2017Q3 aa Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
34000000
CY2017Q3 aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
SegmentReportingInformationEquityInNetIncomeOfEquityMethodInvesteesOfSegments
-12000000
CY2017Q3 aa Segment Reporting Information Metal Price Increase Decrease
SegmentReportingInformationMetalPriceIncreaseDecrease
-5000000
CY2017Q3 aa Lifo Expense
LIFOExpense
4000000
CY2017Q3 aa Segment Reporting Information Depreciation Depletion And Amortization Expenses
SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
183000000
CY2017Q3 aa Accrual For Environmental Loss Contingencies Charges
AccrualForEnvironmentalLossContingenciesCharges
10000000
CY2017Q3 aa Discrete Income Tax Expense Benefit
DiscreteIncomeTaxExpenseBenefit
13000000
CY2017Q3 aa Estimated Effective Tax Rate
EstimatedEffectiveTaxRate
0.342 pure
CY2017Q3 aa Liabilities Related To Original Closure Decision Reversed
LiabilitiesRelatedToOriginalClosureDecisionReversed
29000000

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