Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
|
New words:
Ad, antidumping, assurance, ASU, China, Coalition, Commerce, construction, countervailing, Department, disaggregation, duty, enhance, enhanced, Enhancement, environment, excluding, experienced, FASB, final, fiscal, greenhouse, Hoc, implementation, India, injured, jurisdiction, mitigate, momentum, NGSW, oversee, physical, preferred, prospective, reconciliation, registered, registration, Release, retrospective, safe, Scope, smaller, Squad, statement, stayed, Taiwan, tangible, Thailand, timeline, Topic, undetermined, vertically, vest, volume, voluntarily, warfighter, Weapon, weather, withheld
Removed:
administration, aggravated, agree, allege, allocate, amended, Asian, assigned, August, Axiall, behalf, BisA, Canada, Canadian, certification, challenged, challenging, civil, combined, complaint, complying, comprised, conspired, court, decline, Determining, Direct, disease, District, divide, elevated, eliminate, endemic, estimable, evaluate, eventual, fix, Formosa, health, idle, inaugural, incremental, Indirect, injunctive, intensive, lawsuit, lessen, Nonfinancial, Nova, Occidental, outbreak, Oxy, OxyChem, pandemic, Petroleum, plaintiff, prevent, produced, proposed, Province, punitive, purported, putative, qualifying, Quebec, receiving, recently, refrain, relief, replaced, represent, reviewed, sale, Scotia, seek, separate, separately, sequentially, settlement, Shintech, stabilize, Steel, subsidiary, Superior, turnaround, ULC, unresolved, vigorously, Western, Westlake, wholly, York
Financial report summary
?Management Discussion
- Net income was $460.2 million for 2023 compared to $1,326.9 million for 2022, a decrease of $866.7 million, or 65%. The decrease in net income from the prior year was primarily due to lower operating results across all of our business segments. Net income for 2023 also reflects a pretax gain of $27.0 million from the sale of our domestic private trucking fleet and operations. Diluted net income per share was $3.57 for 2023 compared to $8.94 for 2022, a decrease of $5.37 per share, or 60%. The decrease in diluted net income per share was positively impacted by share repurchases throughout 2023.
- On October 1, 2023, Olin acquired the assets of White Flyer from Reagent for $63.9 million. White Flyer designs, manufactures and sells recreational trap, skeet, international and sporting clay targets and has been included in our Winchester segment.
- On January 10, 2023, BWA, our joint venture with Mitsui, began operations. BWA is an independent global trader of ECU-based derivatives, focused on globally traded caustic soda and EDC. Olin holds 51% interest and exercises control in BWA, and the joint venture is consolidated in our financial statements in our Chlor Alkali Products and Vinyls segment, with Mitsui’s 49% interest in BWA classified as noncontrolling interest. All intercompany accounts and transactions are eliminated in consolidation.