2011 Q4 Form 10-K Financial Statement

#000119312513084517 Filed on February 28, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $4.830B $5.108B $4.834B
YoY Change 16.66% 21.73% 32.26%
Cost Of Revenue $4.794B $4.458B $4.410B
YoY Change 21.37% 14.67% 28.13%
Gross Profit $350.1M $649.5M $423.7M
YoY Change 164.14% 110.84% 99.13%
Gross Profit Margin 7.25% 12.71% 8.77%
Selling, General & Admin $108.5M $130.2M $110.7M
YoY Change 22.08% 20.82% 19.55%
% of Gross Profit 31.0% 20.05% 26.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $152.7M $146.2M $144.6M
YoY Change 3.67% 0.76% -1.03%
% of Gross Profit 43.62% 22.51% 34.13%
Operating Expenses $108.5M $130.2M $110.7M
YoY Change 22.22% 20.82% 19.42%
Operating Profit $241.6M $519.2M $313.0M
YoY Change 452.26% 159.29% 160.66%
Interest Expense $44.48M $46.16M -$46.80M
YoY Change -202.26% -203.26% -16.73%
% of Operating Profit 18.41% 8.89% -14.95%
Other Income/Expense, Net
YoY Change
Pretax Income $284.2M $477.3M $266.3M
YoY Change 390.03% 206.74% 316.09%
Income Tax $84.10M $155.7M $85.10M
% Of Pretax Income 29.59% 32.62% 31.96%
Net Earnings $137.1M $299.8M $159.8M
YoY Change -1306.59% 229.45% 416.22%
Net Earnings / Revenue 2.84% 5.87% 3.31%
Basic Earnings Per Share $0.43 $0.94 $0.50
Diluted Earnings Per Share $0.43 $0.94 $0.50
COMMON SHARES
Basic Shares Outstanding 317.2M shares 316.8M shares 316.6M
Diluted Shares Outstanding 317.3M shares 317.0M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.414B $2.282B $2.296B
YoY Change 20.28% 99.82% 14.8%
Cash & Equivalents $1.201B $1.190B $1.153B
Short-Term Investments $1.313B $1.093B $1.143B
Other Short-Term Assets $446.8M $375.0M $336.0M
YoY Change -29.75% -44.2% -37.08%
Inventory $1.987B $2.222B $1.959B
Prepaid Expenses
Receivables $1.711B $1.837B $1.705B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.708B $6.716B $6.296B
YoY Change 16.44% 29.48% 15.27%
LONG-TERM ASSETS
Property, Plant & Equipment $3.756B $3.805B $3.832B
YoY Change -2.4% -2.54% -3.31%
Goodwill $1.831B
YoY Change -0.31%
Intangibles $784.6M
YoY Change
Long-Term Investments $775.7M
YoY Change
Other Assets $905.5M $1.540B $1.524B
YoY Change -4.68% 74.41% 137.75%
Total Long-Term Assets $7.862B $8.018B $8.048B
YoY Change -3.66% 6.89% 9.63%
TOTAL ASSETS
Total Short-Term Assets $6.708B $6.716B $6.296B
Total Long-Term Assets $7.862B $8.018B $8.048B
Total Assets $14.57B $14.73B $14.34B
YoY Change 4.66% 16.13% 12.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $958.6M $1.144B $1.114B
YoY Change 26.97% 44.26% 25.45%
Accrued Expenses $452.2M $759.0M $632.0M
YoY Change -16.71% 49.41% 34.47%
Deferred Revenue
YoY Change
Short-Term Debt $1.826M $15.00M $17.00M
YoY Change -97.19% -84.54% -72.58%
Long-Term Debt Due $650.0M
YoY Change
Total Short-Term Liabilities $2.396B $2.003B $1.788B
YoY Change 62.11% 32.47% 16.03%
LONG-TERM LIABILITIES
Long-Term Debt $3.630B $4.280B $4.280B
YoY Change -1.35% 38.96% 38.96%
Other Long-Term Liabilities $840.0M $775.0M $823.0M
YoY Change 25.0% 20.9% 22.47%
Total Long-Term Liabilities $3.630B $5.055B $5.103B
YoY Change -16.59% 35.85% 36.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.396B $2.003B $1.788B
Total Long-Term Liabilities $3.630B $5.055B $5.103B
Total Liabilities $6.864B $7.269B $7.093B
YoY Change 13.75% 33.57% 29.03%
SHAREHOLDERS EQUITY
Retained Earnings $7.112B
YoY Change
Common Stock $1.907B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.506B
YoY Change
Treasury Stock Shares 59.49M shares
Shareholders Equity $7.475B $7.465B $7.251B
YoY Change
Total Liabilities & Shareholders Equity $14.57B $14.73B $14.34B
YoY Change 9.87% 16.13% 12.04%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income $137.1M $299.8M $159.8M
YoY Change -1306.59% 229.45% 416.22%
Depreciation, Depletion And Amortization $152.7M $146.2M $144.6M
YoY Change 3.67% 0.76% -1.03%
Cash From Operating Activities $390.8M $245.2M $47.50M
YoY Change -23.37% -184.32% -1683.33%
INVESTING ACTIVITIES
Capital Expenditures -$115.7M -$116.9M -$96.00M
YoY Change 54.06% 7.25% 77.12%
Acquisitions
YoY Change
Other Investing Activities -$258.0M $39.50M $12.00M
YoY Change -260.35% -112.44% -106.01%
Cash From Investing Activities -$373.7M -$77.40M -$84.00M
YoY Change -535.55% -81.85% -66.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.3M -130.5M -139.0M
YoY Change -122.22% -6.32% 32.13%
NET CHANGE
Cash From Operating Activities 390.8M 245.2M 47.50M
Cash From Investing Activities -373.7M -77.40M -84.00M
Cash From Financing Activities -100.3M -130.5M -139.0M
Net Change In Cash -83.20M 37.30M -175.5M
YoY Change -107.95% -104.35% -51.53%
FREE CASH FLOW
Cash From Operating Activities $390.8M $245.2M $47.50M
Capital Expenditures -$115.7M -$116.9M -$96.00M
Free Cash Flow $506.5M $362.1M $143.5M
YoY Change -13.43% -299.17% 180.27%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2012 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
1713000
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2012 nue Amortization Unearned Compensation
AmortizationUnearnedCompensation
800000
CY2012 nue Costs And Expenses Operating And Nonoperating
CostsAndExpensesOperatingAndNonoperating
18576333000
CY2012 nue Number Of Anniversaries Of Grant Date Upon Which Restricted Stock Units Vest
NumberOfAnniversariesOfGrantDateUponWhichRestrictedStockUnitsVest
3 pure
CY2012 nue Profit Sharing And Retirement Savings Plan Expense
ProfitSharingAndRetirementSavingsPlanExpense
77700000
CY2012 nue Participating Securities Distributed And Undistributed Earnings Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsDiluted
1714000
CY2012 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
688357000
CY2012 nue Ratio Of Funded Debt To Total Capital
RatioOfFundedDebtToTotalCapital
0.32 pure
CY2012 nue Stock Option Exercise Price As Percentage Of Market Value
StockOptionExercisePriceAsPercentageOfMarketValue
1.00 pure
CY2012 us-gaap Interest Expense
InterestExpense
173503000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
502905000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.40
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-28022000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-111496000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10515000
CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
51063000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-23052000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1200385000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2264000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0075 pure
CY2012 nue Variable Rate Bonds Minimum Maturity Days
VariableRateBondsMinimumMaturityDays
90 D
CY2012 nue Segment Capital Expenditures
SegmentCapitalExpenditures
1019334000
CY2012 nue Total Aggregate Intrinsic Value Of Both Options Outstanding And Options Exercisable
TotalAggregateIntrinsicValueOfBothOptionsOutstandingAndOptionsExercisable
6500000
CY2012 nue Proceeds From Repayments Of Short Term Loan Affiliated Company Net
ProceedsFromRepaymentsOfShortTermLoanAffiliatedCompanyNet
65446000
CY2012 nue Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
42.07
CY2012 nue Increase Decrease In Other Comprehensive Income Due To Correction Of Errors
IncreaseDecreaseInOtherComprehensiveIncomeDueToCorrectionOfErrors
7600000
CY2010Q4 nue Pre Tax Charge For Estimated Closure Costs
PreTaxChargeForEstimatedClosureCosts
10000000
CY2011Q3 us-gaap Profit Loss
ProfitLoss
321578000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
299773000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
CY2011Q3 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
32000000
CY2011Q3 us-gaap Gross Profit
GrossProfit
649450000
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
5107809000
CY2011Q4 us-gaap Profit Loss
ProfitLoss
200111000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
181518000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2011Q4 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
28000000
CY2012Q1 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
14500000
CY2012Q1 us-gaap Gross Profit
GrossProfit
380527000
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
5072594000
CY2012Q2 us-gaap Profit Loss
ProfitLoss
139567000
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
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CY2012Q2 nue Purchase Accounting Adjustments Assets
PurchaseAccountingAdjustmentsAssets
8600000
CY2011Q4 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
13900000
CY2011Q4 us-gaap Gross Profit
GrossProfit
458130000
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
5252144000
CY2012Q1 us-gaap Profit Loss
ProfitLoss
163412000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
145104000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
112299000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2012Q2 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-14500000
CY2012Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
30000000
CY2012Q2 us-gaap Gross Profit
GrossProfit
399930000
CY2012Q3 us-gaap Profit Loss
ProfitLoss
129892000
CY2012Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-17600000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
110308000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2012Q3 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-84000000
CY2012Q3 us-gaap Gross Profit
GrossProfit
348733000
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
4801206000
CY2012Q3 nue Purchase Accounting Adjustments Assets
PurchaseAccountingAdjustmentsAssets
28200000
CY2011Q4 us-gaap Profit Loss
ProfitLoss
158173000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
137056000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2011Q4 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
51800000
CY2011Q4 us-gaap Gross Profit
GrossProfit
350105000
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
4829677000
CY2011Q4 nue Gain Related To Correction Of Error In Actuarial Calculation
GainRelatedToCorrectionOfErrorInActuarialCalculation
29000000
CY2011Q2 us-gaap Profit Loss
ProfitLoss
181122000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
159841000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2011Q2 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
31000000
CY2011Q2 us-gaap Gross Profit
GrossProfit
423735000
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
4833934000
CY2012Q4 us-gaap Profit Loss
ProfitLoss
160255000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
136908000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2012Q4 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-71900000
CY2012Q4 us-gaap Gross Profit
GrossProfit
384348000
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
4451274000
CY2012Q4 nue Purchase Accounting Adjustments Assets
PurchaseAccountingAdjustmentsAssets
12000000

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