EXHIBIT 99.1
GOODRICH CORPORATION
SEGMENT RESULTS OF OPERATIONS AS REPORTED UNDER THE NEW ORGANIZATION STUCTURE (UNAUDITED)
(DOLLARS IN MILLIONS)
SEGMENT RESULTS OF OPERATIONS AS REPORTED UNDER THE NEW ORGANIZATION STUCTURE (UNAUDITED)
(DOLLARS IN MILLIONS)
Full Year | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | Full Year | |||||||||||||||||||
2005 | 2006 | 2006 | 2006 | 2006 | 2006 | |||||||||||||||||||
Sales: | ||||||||||||||||||||||||
Actuation and Landing Systems | ||||||||||||||||||||||||
(formerly Airframe Systems) | $ | 2,126.4 | $ | 538.4 | $ | 561.9 | $ | 556.5 | $ | 586.2 | $ | 2,243.0 | ||||||||||||
Nacelles and Interior Systems (formerly Engine Systems) | 1,734.9 | 493.8 | 514.9 | 464.2 | 510.6 | 1,983.5 | ||||||||||||||||||
Electronic Systems | 1,535.2 | 391.6 | 406.4 | 415.3 | 438.5 | 1,651.8 | ||||||||||||||||||
Total Sales | $ | 5,396.5 | $ | 1,423.8 | $ | 1,483.2 | $ | 1,436.0 | $ | 1,535.3 | $ | 5,878.3 | ||||||||||||
Operating Income: | ||||||||||||||||||||||||
Actuation and Landing Systems | $ | 111.4 | $ | 18.9 | $ | 41.5 | $ | 43.0 | $ | 37.5 | $ | 140.9 | ||||||||||||
Nacelles and Interior Systems | 321.9 | 104.8 | 114.8 | 103.4 | 92.3 | 415.3 | ||||||||||||||||||
Electronic Systems | 188.4 | 47.3 | 51.9 | 56.8 | 65.5 | 221.5 | ||||||||||||||||||
Total Segment Operating Income (1) | 621.7 | 171.0 | 208.2 | 203.2 | 195.3 | 777.7 | ||||||||||||||||||
Corporate General and Administrative Costs | (88.4 | ) | (27.2 | ) | (23.9 | ) | (23.0 | ) | (30.9 | ) | (105.0 | ) | ||||||||||||
Unallocated ERP Implementation Costs | — | (1.1 | ) | (5.5 | ) | (5.8 | ) | (4.0 | ) | (16.4 | ) | |||||||||||||
Pension Curtailment | — | — | (10.9 | ) | — | — | (10.9 | ) | ||||||||||||||||
Total Operating Income | $ | 533.3 | $ | 142.7 | $ | 167.9 | $ | 174.4 | $ | 160.4 | $ | 645.4 | ||||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||||||
Actuation and Landing Systems | 5.2 | % | 3.5 | % | 7.4 | % | 7.7 | % | 6.4 | % | 6.3 | % | ||||||||||||
Nacelles and Interior Systems | 18.6 | % | 21.2 | % | 22.3 | % | 22.3 | % | 18.1 | % | 20.9 | % | ||||||||||||
Electronic Systems | 12.3 | % | 12.1 | % | 12.8 | % | 13.7 | % | 14.9 | % | 13.4 | % | ||||||||||||
Total Segment Operating Income as a Percent of Sales | 11.5 | % | 12.0 | % | 14.0 | % | 14.2 | % | 12.7 | % | 13.2 | % | ||||||||||||
Total Operating Income as a Percent of Sales | 9.9 | % | 10.0 | % | 11.3 | % | 12.1 | % | 10.4 | % | 11.0 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
Full Year | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2005 | Structure | Reorganization | Costs (2) | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 1,854.2 | $ | 244.6 | $ | — | $ | 27.6 | $ | 2,126.4 | ||||||||||
Nacelles and Interior Systems | 2,237.6 | (378.9 | ) | — | (123.8 | ) | 1,734.9 | |||||||||||||
Electronic Systems | 1,304.7 | 134.3 | — | 96.2 | 1,535.2 | |||||||||||||||
Total Sales | $ | 5,396.5 | $ | — | $ | — | $ | — | $ | 5,396.5 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 76.0 | $ | 32.2 | $ | — | $ | 3.2 | $ | 111.4 | ||||||||||
Nacelles and Interior Systems | 399.8 | (62.8 | ) | — | (15.1 | ) | 321.9 | |||||||||||||
Electronic Systems | 145.9 | 30.6 | — | 11.9 | 188.4 | |||||||||||||||
Total Segment Operating Income (1) | 621.7 | — | — | — | 621.7 | |||||||||||||||
Corporate General and Administrative Costs | (88.4 | ) | — | — | — | (88.4 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | — | — | — | |||||||||||||||
Pension Curtailment | — | — | — | — | — | |||||||||||||||
Total Operating Income | $ | 533.3 | $ | — | $ | — | $ | — | $ | 533.3 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 4.1 | % | 5.2 | % | ||||||||||||||||
Nacelles and Interior Systems | 17.9 | % | 18.6 | % | ||||||||||||||||
Electronic Systems | 11.2 | % | 12.3 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 11.5 | % | 11.5 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 9.9 | % | 9.9 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. | |
(2) | No Enterprise ERP implementation costs incurred in 2005. |
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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
1st Quarter | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2006 | Structure | Reorganization | Costs | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 470.3 | $ | 63.0 | $ | — | $ | 5.1 | $ | 538.4 | ||||||||||
Nacelles and Interior Systems | 610.5 | (91.4 | ) | — | $ | (25.3 | ) | 493.8 | ||||||||||||
Electronic Systems | 343.0 | 28.4 | — | $ | 20.2 | 391.6 | ||||||||||||||
Total Sales | $ | 1,423.8 | $ | — | $ | — | $ | — | $ | 1,423.8 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 14.3 | $ | 2.9 | $ | 0.4 | $ | 1.3 | $ | 18.9 | ||||||||||
Nacelles and Interior Systems | 118.7 | (10.5 | ) | 0.5 | (3.9 | ) | 104.8 | |||||||||||||
Electronic Systems | 36.9 | 7.6 | 0.2 | 2.6 | 47.3 | |||||||||||||||
Total Segment Operating Income (1) | 169.9 | — | 1.1 | — | 171.0 | |||||||||||||||
Corporate General and Administrative Costs | (27.2 | ) | — | — | — | (27.2 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | (1.1 | ) | — | (1.1 | ) | |||||||||||||
Pension Curtailment | — | — | — | — | — | |||||||||||||||
Total Operating Income | $ | 142.7 | $ | — | $ | — | $ | — | $ | 142.7 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 3.0 | % | 3.5 | % | ||||||||||||||||
Nacelles and Interior Systems | 19.4 | % | 21.2 | % | ||||||||||||||||
Electronic Systems | 10.8 | % | 12.1 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 11.9 | % | 12.0 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 10.0 | % | 10.0 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
2nd Quarter | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2006 | Structure | Reorganization | Costs | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 488.6 | $ | 67.5 | $ | — | $ | 5.8 | $ | 561.9 | ||||||||||
Nacelles and Interior Systems | 634.6 | (95.5 | ) | — | $ | (24.2 | ) | 514.9 | ||||||||||||
Electronic Systems | 360.0 | 28.0 | — | $ | 18.4 | 406.4 | ||||||||||||||
Total Sales | $ | 1,483.2 | $ | — | $ | — | $ | — | $ | 1,483.2 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 28.0 | $ | 10.1 | $ | 2.0 | $ | 1.4 | $ | 41.5 | ||||||||||
Nacelles and Interior Systems | 128.9 | (10.6 | ) | 2.2 | (5.7 | ) | 114.8 | |||||||||||||
Electronic Systems | 45.8 | 0.5 | 1.3 | 4.3 | 51.9 | |||||||||||||||
Total Segment Operating Income (1) | 202.7 | — | 5.5 | — | 208.2 | |||||||||||||||
Corporate General and Administrative Costs | (23.9 | ) | — | — | — | (23.9 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | (5.5 | ) | — | (5.5 | ) | |||||||||||||
Pension Curtailment | (10.9 | ) | — | — | — | (10.9 | ) | |||||||||||||
Total Operating Income | $ | 167.9 | $ | — | $ | — | $ | — | $ | 167.9 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 5.7 | % | 7.4 | % | ||||||||||||||||
Nacelles and Interior Systems | 20.3 | % | 22.3 | % | ||||||||||||||||
Electronic Systems | 12.7 | % | 12.8 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 13.7 | % | 14.0 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 11.3 | % | 11.3 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
3rd Quarter | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2006 | Structure | Reorganization | Costs | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 481.1 | $ | 69.4 | $ | — | $ | 6.0 | $ | 556.5 | ||||||||||
Nacelles and Interior Systems | 582.5 | (92.1 | ) | — | $ | (26.2 | ) | 464.2 | ||||||||||||
Electronic Systems | 372.4 | 22.7 | — | $ | 20.2 | 415.3 | ||||||||||||||
Total Sales | $ | 1,436.0 | $ | — | $ | — | $ | — | $ | 1,436.0 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 30.8 | $ | 9.0 | $ | 2.1 | $ | 1.1 | $ | 43.0 | ||||||||||
Nacelles and Interior Systems | 116.2 | (10.8 | ) | 2.4 | (4.4 | ) | 103.4 | |||||||||||||
Electronic Systems | 50.4 | 1.8 | 1.3 | 3.3 | 56.8 | |||||||||||||||
Total Segment Operating Income (1) | 197.4 | — | 5.8 | — | 203.2 | |||||||||||||||
Corporate General and Administrative Costs | (23.0 | ) | — | — | — | (23.0 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | (5.8 | ) | — | (5.8 | ) | |||||||||||||
Pension Curtailment | — | — | — | — | — | |||||||||||||||
Total Operating Income | $ | 174.4 | $ | — | $ | — | $ | — | $ | 174.4 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 6.4 | % | 7.7 | % | ||||||||||||||||
Nacelles and Interior Systems | 19.9 | % | 22.3 | % | ||||||||||||||||
Electronic Systems | 13.5 | % | 13.7 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 13.7 | % | 14.2 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 12.1 | % | 12.1 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
4rth Quarter | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2006 | Structure | Reorganization | Costs | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 510.6 | $ | 68.7 | $ | — | $ | 6.9 | $ | 586.2 | ||||||||||
Nacelles and Interior Systems | 627.7 | (93.5 | ) | — | $ | (23.6 | ) | 510.6 | ||||||||||||
Electronic Systems | 397.0 | 24.8 | — | $ | 16.7 | 438.5 | ||||||||||||||
Total Sales | $ | 1,535.3 | $ | — | $ | — | $ | — | $ | 1,535.3 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 24.4 | $ | 10.7 | $ | 1.4 | $ | 1.0 | $ | 37.5 | ||||||||||
Nacelles and Interior Systems | 107.2 | (13.4 | ) | 1.7 | (3.2 | ) | 92.3 | |||||||||||||
Electronic Systems | 59.7 | 2.7 | 0.9 | 2.2 | 65.5 | |||||||||||||||
Total Segment Operating Income (1) | 191.3 | — | 4.0 | — | 195.3 | |||||||||||||||
Corporate General and Administrative Costs | (30.9 | ) | — | — | — | (30.9 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | (4.0 | ) | — | (4.0 | ) | |||||||||||||
Pension Curtailment | — | — | — | — | — | |||||||||||||||
Total Operating Income | $ | 160.4 | $ | — | $ | — | $ | — | $ | 160.4 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 4.8 | % | 6.4 | % | ||||||||||||||||
Nacelles and Interior Systems | 17.1 | % | 18.1 | % | ||||||||||||||||
Electronic Systems | 15.0 | % | 14.9 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 12.5 | % | 12.7 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 10.4 | % | 10.4 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
Page 6
GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
Old | ERP | Customer | New | |||||||||||||||||
Full Year | Organizational | Segment | Implementation | Services | Organizational | |||||||||||||||
2006 | Structure | Reorganization | Costs | Reallocation | Structure | |||||||||||||||
Sales: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 1,950.6 | $ | 268.6 | $ | — | $ | 23.8 | $ | 2,243.0 | ||||||||||
Nacelles and Interior Systems | 2,455.3 | (372.5 | ) | — | (99.3 | ) | 1,983.5 | |||||||||||||
Electronic Systems | 1,472.4 | 103.9 | — | 75.5 | 1,651.8 | |||||||||||||||
Total Sales | $ | 5,878.3 | $ | — | $ | — | $ | — | $ | 5,878.3 | ||||||||||
Operating Income: | ||||||||||||||||||||
Actuation and Landing Systems | $ | 97.5 | $ | 32.7 | $ | 5.9 | $ | 4.8 | $ | 140.9 | ||||||||||
Nacelles and Interior Systems | 471.0 | (45.3 | ) | 6.8 | (17.2 | ) | 415.3 | |||||||||||||
Electronic Systems | 192.8 | 12.6 | 3.7 | 12.4 | 221.5 | |||||||||||||||
Total Segment Operating Income (1) | 761.3 | — | 16.4 | — | 777.7 | |||||||||||||||
Corporate General and Administrative Costs | (105.0 | ) | — | — | — | (105.0 | ) | |||||||||||||
Unallocated ERP Implementation Costs | — | — | (16.4 | ) | — | (16.4 | ) | |||||||||||||
Pension Curtailment | (10.9 | ) | — | — | — | (10.9 | ) | |||||||||||||
Total Operating Income | $ | 645.4 | $ | — | $ | — | $ | — | $ | 645.4 | ||||||||||
Segment Operating Income as a Percent of Sales: | ||||||||||||||||||||
Actuation and Landing Systems | 5.0 | % | 6.3 | % | ||||||||||||||||
Nacelles and Interior Systems | 19.2 | % | 20.9 | % | ||||||||||||||||
Electronic Systems | 13.1 | % | 13.4 | % | ||||||||||||||||
Total Segment Operating Income as a Percent of Sales | 13.0 | % | 13.2 | % | ||||||||||||||||
Total Operating Income as a Percent of Sales | 11.0 | % | 11.0 | % |
(1) | Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above. |
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