$HWM
Howmet Aerospace Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515259994 Filed on July 22, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $3.204B $5.836B
YoY Change -45.1% -0.22%
Cost Of Revenue $4.663B $4.765B
YoY Change -2.14% -3.41%
Gross Profit -$1.459B $1.071B
YoY Change -236.23% 16.92%
Gross Profit Margin -45.54% 18.35%
Selling, General & Admin $224.0M $245.0M
YoY Change -8.57% -3.54%
% of Gross Profit 22.88%
Research & Development $68.00M $50.00M
YoY Change 36.0% 8.7%
% of Gross Profit 4.67%
Depreciation & Amortization $320.0M $350.0M
YoY Change -8.57% -3.58%
% of Gross Profit 32.68%
Operating Expenses $292.0M $295.0M
YoY Change -1.02% -1.67%
Operating Profit -$1.751B $776.0M
YoY Change -325.64% 25.97%
Interest Expense $124.0M $105.0M
YoY Change 18.1% -11.02%
% of Operating Profit 13.53%
Other Income/Expense, Net $5.000M -$5.000M
YoY Change -200.0% -73.68%
Pretax Income $282.0M $207.0M
YoY Change 36.23% -262.99%
Income Tax $75.00M $78.00M
% Of Pretax Income 26.6% 37.68%
Net Earnings $140.0M $138.0M
YoY Change 1.45% -215.97%
Net Earnings / Revenue 4.37% 2.36%
Basic Earnings Per Share $0.30 $0.12
Diluted Earnings Per Share $0.30 $0.12
COMMON SHARES
Basic Shares Outstanding 1.222B shares 1.173B shares
Diluted Shares Outstanding 1.237B shares 1.189B shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.311B $1.183B
YoY Change 10.82% -1.58%
Cash & Equivalents $1.311B $1.183B
Short-Term Investments
Other Short-Term Assets $1.112B $925.0M
YoY Change 20.22% -15.83%
Inventory $3.160B $3.227B
Prepaid Expenses
Receivables $1.558B $1.381B
Other Receivables $688.0M $671.0M
Total Short-Term Assets $7.829B $7.387B
YoY Change 5.98% 2.07%
LONG-TERM ASSETS
Property, Plant & Equipment $15.27B $17.61B
YoY Change -13.27% -2.76%
Goodwill $5.232B $3.435B
YoY Change 52.31% -32.82%
Intangibles
YoY Change
Long-Term Investments $1.952B $1.979B
YoY Change -1.36% 7.09%
Other Assets $3.806B $2.654B
YoY Change 43.41% 3.96%
Total Long-Term Assets $28.76B $28.92B
YoY Change -0.57% -7.64%
TOTAL ASSETS
Total Short-Term Assets $7.829B $7.387B
Total Long-Term Assets $28.76B $28.92B
Total Assets $36.59B $36.31B
YoY Change 0.77% -5.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.009B $3.023B
YoY Change -0.46% 3.53%
Accrued Expenses $802.0M $937.0M
YoY Change -14.41% -1.26%
Deferred Revenue
YoY Change
Short-Term Debt $50.00M $356.0M
YoY Change -85.96% 547.27%
Long-Term Debt Due $26.00M $87.00M
YoY Change -70.11% -85.6%
Total Short-Term Liabilities $5.206B $5.842B
YoY Change -10.89% -4.96%
LONG-TERM LIABILITIES
Long-Term Debt $8.713B $7.612B
YoY Change 14.46% -1.14%
Other Long-Term Liabilities $8.030B $2.885B
YoY Change 178.34% 5.02%
Total Long-Term Liabilities $16.74B $2.885B
YoY Change 480.35% 5.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.206B $5.842B
Total Long-Term Liabilities $16.74B $2.885B
Total Liabilities $21.95B $21.60B
YoY Change 1.6% -4.8%
SHAREHOLDERS EQUITY
Retained Earnings $9.605B $9.163B
YoY Change 4.82% -21.37%
Common Stock $1.304B $1.267B
YoY Change 2.92% 7.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.834B $3.275B
YoY Change -13.47% -14.09%
Treasury Stock Shares
Shareholders Equity $12.31B $11.68B
YoY Change
Total Liabilities & Shareholders Equity $36.59B $36.31B
YoY Change 0.77% -5.82%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $140.0M $138.0M
YoY Change 1.45% -215.97%
Depreciation, Depletion And Amortization $320.0M $350.0M
YoY Change -8.57% -3.58%
Cash From Operating Activities $472.0M $518.0M
YoY Change -8.88% 0.78%
INVESTING ACTIVITIES
Capital Expenditures -$267.0M -$258.0M
YoY Change 3.49% -9.79%
Acquisitions
YoY Change
Other Investing Activities $47.00M -$28.00M
YoY Change -267.86% -380.0%
Cash From Investing Activities -$220.0M -$286.0M
YoY Change -23.08% 3.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -133.0M 281.0M
YoY Change -147.33% -149.47%
NET CHANGE
Cash From Operating Activities 472.0M 518.0M
Cash From Investing Activities -220.0M -286.0M
Cash From Financing Activities -133.0M 281.0M
Net Change In Cash 119.0M 513.0M
YoY Change -76.8% -255.45%
FREE CASH FLOW
Cash From Operating Activities $472.0M $518.0M
Capital Expenditures -$267.0M -$258.0M
Free Cash Flow $739.0M $776.0M
YoY Change -4.77% -3.0%

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CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives
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CY2015Q2 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2015Q2 us-gaap Comprehensive Income Net Of Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2015Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2015Q2 us-gaap Sales Revenue Goods Net
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CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2015Q2 us-gaap Income Loss From Equity Method Investments
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CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2015Q2 us-gaap Income Tax Expense Benefit
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CY2015Q2 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2015Q2 us-gaap Restructuring Charges
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CY2015Q2 us-gaap Interest Expense
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CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2015Q2 us-gaap Costs And Expenses
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CY2015Q2 us-gaap Research And Development Expense
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CY2015Q2 us-gaap Cost Of Goods Sold Depreciation Depletion And Amortization
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CY2015Q2 us-gaap Selling General And Administrative Expense
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CY2015Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2015Q2 us-gaap Dividends Common Stock Cash
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CY2015Q2 us-gaap Accrual For Environmental Loss Contingencies Payments
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CY2015Q2 us-gaap Stockholders Equity Other
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CY2015Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2015Q2 aa Restructuring And Other Charges After Tax And Noncontrolling Interests
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CY2015Q2 aa Income Tax Reconciliation Nondeductible Expense In Foreign Jurisdictions
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CY2015Q2 aa Incremental Common Shares Attributable To Mandatory Convertible Preferred Stock Dividends
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0 shares
CY2015Q2 aa Number Of Employee Charged Layoff
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CY2015Q2 aa Segment Reporting Information Income Tax Expenses Benefits
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CY2015Q2 aa Segment Reporting Information Equity In Net Income Of Equity Method Investees Of Segments
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CY2015Q2 aa Foreign Currency Transaction Gain Loss After Tax
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CY2015Q2 aa Segment Reporting Information Profits Losses
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SegmentReportingInformationDepreciationDepletionAndAmortizationExpenses
306000000

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