$HWM
Howmet Aerospace Inc.

2015 Q4 Form 10-Q Financial Statement

#000119312515350979 Filed on October 23, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $2.991B $3.127B $6.239B
YoY Change -53.1% -49.88% 8.22%
Cost Of Revenue -$3.561B $4.559B $4.904B
YoY Change -6.66% -7.04% 2.21%
Gross Profit -$1.315B -$1.432B $1.335B
YoY Change 11.06% -207.27% 38.06%
Gross Profit Margin -43.97% -45.79% 21.4%
Selling, General & Admin $48.00M $261.0M $243.0M
YoY Change 4.35% 7.41% -2.02%
% of Gross Profit 18.2%
Research & Development -$9.000M $55.00M $57.00M
YoY Change -74.29% -3.51% 29.55%
% of Gross Profit 4.27%
Depreciation & Amortization $321.0M $318.0M $346.0M
YoY Change -4.46% -8.09% -0.57%
% of Gross Profit 25.92%
Operating Expenses -$399.0M $316.0M $300.0M
YoY Change -32.26% 5.33% 2.74%
Operating Profit -$916.0M -$1.748B $1.035B
YoY Change 53.95% -268.89% 53.33%
Interest Expense -$87.00M $123.0M $126.0M
YoY Change -1840.0% -2.38% 16.67%
% of Operating Profit 12.17%
Other Income/Expense, Net $11.00M $15.00M -$23.00M
YoY Change 120.0% -165.22% -428.57%
Pretax Income -$798.0M $206.0M $330.0M
YoY Change 432.0% -37.58% 340.0%
Income Tax -$62.00M $100.0M $199.0M
% Of Pretax Income 48.54% 60.3%
Net Earnings -$701.0M $44.00M $149.0M
YoY Change -540.88% -70.47% 520.83%
Net Earnings / Revenue -23.44% 1.41% 2.39%
Basic Earnings Per Share -$1.64 $0.06 $0.13
Diluted Earnings Per Share -$1.64 $0.06 $0.12
COMMON SHARES
Basic Shares Outstanding 1.310B shares 427.0M shares 1.177B shares
Diluted Shares Outstanding 431.0M shares 1.205B shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.362B $1.739B $3.272B
YoY Change -27.44% -46.85% 221.73%
Cash & Equivalents $1.919B $1.739B $3.272B
Short-Term Investments
Other Short-Term Assets $2.953B $1.100B $874.0M
YoY Change 149.83% 25.86% -20.62%
Inventory $2.284B $3.559B $3.138B
Prepaid Expenses
Receivables $960.0M $1.525B $1.480B
Other Receivables $394.0M $669.0M $925.0M
Total Short-Term Assets $7.953B $8.592B $9.689B
YoY Change 1.34% -11.32% 37.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.425B $14.75B $16.72B
YoY Change -66.97% -11.75% -6.41%
Goodwill $5.249B $5.443B $3.389B
YoY Change 3.18% 60.61% -34.12%
Intangibles $1.909B
YoY Change 16.05%
Long-Term Investments $1.476B $1.647B $1.946B
YoY Change -17.08% -15.36% 1.99%
Other Assets $1.944B $3.888B $2.401B
YoY Change -29.54% 61.93% -9.26%
Total Long-Term Assets $28.52B $28.00B $27.43B
YoY Change -3.36% 2.05% -12.02%
TOTAL ASSETS
Total Short-Term Assets $7.953B $8.592B $9.689B
Total Long-Term Assets $28.52B $28.00B $27.43B
Total Assets $36.48B $36.59B $37.12B
YoY Change -2.37% -1.44% -2.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.510B $2.734B $2.979B
YoY Change -52.09% -8.22% 5.79%
Accrued Expenses $580.0M $825.0M $951.0M
YoY Change -38.1% -13.25% -6.67%
Deferred Revenue
YoY Change
Short-Term Debt $38.00M $50.00M $156.0M
YoY Change -29.63% -67.95% 164.41%
Long-Term Debt Due $3.000M $35.00M
YoY Change -89.66% -94.66%
Total Short-Term Liabilities $5.211B $5.147B $5.354B
YoY Change -4.53% -3.87% -11.36%
LONG-TERM LIABILITIES
Long-Term Debt $8.786B $9.091B $8.797B
YoY Change 0.19% 3.34% 15.29%
Other Long-Term Liabilities $8.349B $7.658B $2.877B
YoY Change 4.82% 166.18% 4.2%
Total Long-Term Liabilities $8.786B $16.75B $2.877B
YoY Change 0.19% 482.17% 4.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.211B $5.147B $5.354B
Total Long-Term Liabilities $8.786B $16.75B $2.877B
Total Liabilities $22.35B $21.90B $21.99B
YoY Change -0.99% -0.41% -1.69%
SHAREHOLDERS EQUITY
Retained Earnings $8.834B $9.553B $9.276B
YoY Change -5.81% 2.99% -20.11%
Common Stock $1.391B $1.391B $1.267B
YoY Change 6.67% 9.79% 7.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.825B $2.830B $3.129B
YoY Change -7.13% -9.56% -17.87%
Treasury Stock Shares 81.05M shares
Shareholders Equity $12.05B $12.59B $12.40B
YoY Change
Total Liabilities & Shareholders Equity $36.48B $36.59B $37.12B
YoY Change -2.37% -1.44% -2.9%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$701.0M $44.00M $149.0M
YoY Change -540.88% -70.47% 520.83%
Depreciation, Depletion And Amortization $321.0M $318.0M $346.0M
YoY Change -4.46% -8.09% -0.57%
Cash From Operating Activities $865.0M $420.0M $249.0M
YoY Change -40.67% 68.67% 16.36%
INVESTING ACTIVITIES
Capital Expenditures -$398.0M -$268.0M -$283.0M
YoY Change -15.14% -5.3% 13.2%
Acquisitions
YoY Change
Other Investing Activities -$59.00M $350.0M $2.000M
YoY Change -97.3% 17400.0% -103.7%
Cash From Investing Activities -$457.0M $82.00M -$281.0M
YoY Change -82.77% -129.18% -7.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -230.0M -52.00M 2.140B
YoY Change 27.07% -102.43% -2401.08%
NET CHANGE
Cash From Operating Activities 865.0M 420.0M 249.0M
Cash From Investing Activities -457.0M 82.00M -281.0M
Cash From Financing Activities -230.0M -52.00M 2.140B
Net Change In Cash 178.0M 450.0M 2.108B
YoY Change -112.94% -78.65% -1251.91%
FREE CASH FLOW
Cash From Operating Activities $865.0M $420.0M $249.0M
Capital Expenditures -$398.0M -$268.0M -$283.0M
Free Cash Flow $1.263B $688.0M $532.0M
YoY Change -34.46% 29.32% 14.66%

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CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2015Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2015Q3 us-gaap Profit Loss
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CY2015Q3 us-gaap Stock Issued During Period Value New Issues
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CY2015Q3 us-gaap Stockholders Equity Other
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CY2015Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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CY2015Q3 aa Defined Benefit Plan Recognized Net Gain Loss Due To Settlements Excluded From Restructuring And Other Charges
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CY2015Q3 us-gaap Gain Loss On Disposition Of Assets1
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CY2015Q3 us-gaap Other Nonoperating Income Expense
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CY2015Q3 us-gaap Nonoperating Income Expense
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CY2015Q3 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2015Q3 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2015Q3 us-gaap Comprehensive Income Net Of Tax
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CY2015Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2015Q3 us-gaap Sales Revenue Goods Net
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CY2015Q3 us-gaap Investment Income Interest
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CY2015Q3 us-gaap Income Loss From Equity Method Investments
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CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2015Q3 us-gaap Income Tax Expense Benefit
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CY2015Q3 us-gaap Preferred Stock Dividends And Other Adjustments
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CY2015Q3 us-gaap Restructuring Charges
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CY2015Q3 us-gaap Interest Expense
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CY2015Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2015Q3 us-gaap Costs And Expenses
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CY2015Q3 us-gaap Research And Development Expense
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CY2015Q3 us-gaap Cost Of Goods Sold Depreciation Depletion And Amortization
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CY2015Q3 us-gaap Selling General And Administrative Expense
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CY2015Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2015Q3 us-gaap Dividends Common Stock Cash
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CY2015Q3 us-gaap Accrual For Environmental Loss Contingencies Payments
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CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2015Q3 aa Restructuring And Other Charges After Tax And Noncontrolling Interests
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CY2015Q3 aa Number Of Employee Charged Layoff
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CY2015Q3 aa Segment Reporting Information Income Tax Expenses Benefits
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CY2015Q3 aa Foreign Currency Transaction Gain Loss After Tax
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CY2015Q3 aa Segment Reporting Information Profits Losses
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