Exhibit 99.1
Item 6. | Selected Financial Data |
Refer to Item 7,Management's Discussion and Analysis of Financial Condition and Results of Operations, and the notes to the accompanying consolidated financial statements for additional information regarding the financial data presented below, including matters that might cause this data not to be indicative of our future financial condition or results of operations.
We operate in four industry segments: Truck, Engine, Parts, and Financial Services. A detailed description of our segments, products, and services, as well as additional selected financial data is included in “Our Operating Segments” in Item 1,Business, and in Note 15,Segment Reporting, to the accompanying consolidated financial statements.
Five-Year Summary of Selected Financial and Statistical Data
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| | As of and for the Years Ended October 31, | |
(in millions, except per share data) | | 2012(A) | | | 2011(B) | | | 2010 | | | 2009 | | | 2008 | |
RESULTS OF OPERATIONS DATA | | | | | | | | | | | | | | | | | | | | |
Sales and revenues, net | | $ | 12,695 | | | $ | 13,641 | | | $ | 11,867 | | | $ | 11,474 | | | $ | 14,585 | |
Income (loss) from continuing operations before taxes | | $ | (1,111 | ) | | $ | 435 | | | $ | 338 | | | $ | 441 | | | $ | 229 | |
Income tax benefit (expense) | | | (1,780 | ) | | | 1,417 | | | | (23 | ) | | | (37 | ) | | | (57 | ) |
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Income (loss) from continuing operations | | | (2,891 | ) | | | 1,852 | | | | 315 | | | | 404 | | | | 172 | |
Loss from discontinued operations, net of tax | | | (71 | ) | | | (74 | ) | | | (48 | ) | | | (59 | ) | | | (38 | ) |
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Net income (loss) | | | (2,962 | ) | | | 1,778 | | | | 267 | | | | 345 | | | | 134 | |
Less: Net income attributable to non-controlling interests | | | 48 | | | | 55 | | | | 44 | | | | 25 | | | | — | |
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Net income (loss) attributable to Navistar International Corporation | | $ | (3,010 | ) | | $ | 1,723 | | | $ | 223 | | | $ | 320 | | | $ | 134 | |
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Amounts attributable to Navistar International Corporation common shareholders: | | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations, net of tax | | $ | (2,939 | ) | | $ | 1,797 | | | $ | 271 | | | $ | 379 | | | $ | 172 | |
Loss from discontinued operations, net of tax | | | (71 | ) | | | (74 | ) | | | (48 | ) | | | (59 | ) | | | (38 | ) |
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Net income (loss) | | $ | (3,010 | ) | | $ | 1,723 | | | $ | 223 | | | $ | 320 | | | $ | 134 | |
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Basic earnings (loss) per share: | | | | | | | | | | | | | | | | | | | | |
Continuing operations | | $ | (42.53 | ) | | $ | 24.68 | | | $ | 3.78 | | | $ | 5.34 | | | $ | 2.43 | |
Discontinued operations | | | (1.03 | ) | | | (1.02 | ) | | | (0.67 | ) | | | (0.83 | ) | | | (0.54 | ) |
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Net income (loss) | | $ | (43.56 | ) | | $ | 23.66 | | | $ | 3.11 | | | $ | 4.51 | | | $ | 1.89 | |
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Diluted earnings (loss) per share: | | | | | | | | | | | | | | | | | | | | |
Continuing operations | | $ | (42.53 | ) | | $ | 23.61 | | | $ | 3.70 | | | $ | 5.28 | | | $ | 2.35 | |
Discontinued operations | | | (1.03 | ) | | | (0.97 | ) | | | (0.65 | ) | | | (0.82 | ) | | | (0.53 | ) |
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Net income (loss) | | $ | (43.56 | ) | | $ | 22.64 | | | $ | 3.05 | | | $ | 4.46 | | | $ | 1.82 | |
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Weighted average number of shares outstanding: | | | | | | | | | | | | | | | | | | | | |
Basic | | | 69.1 | | | | 72.8 | | | | 71.7 | | | | 71.0 | | | | 70.7 | |
Diluted | | | 69.1 | | | | 76.1 | | | | 73.2 | | | | 71.8 | | | | 73.2 | |
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BALANCE SHEET DATA | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 9,102 | | | $ | 12,291 | | | $ | 9,730 | | | $ | 10,028 | | | $ | 10,390 | |
Long-term debt:(C) | | | | | | | | | | | | | | | | | | | | |
Manufacturing operations | | $ | 2,733 | | | $ | 1,881 | | | $ | 1,841 | | | $ | 1,670 | | | $ | 1,639 | |
Financial services operations | | | 833 | | | | 1,596 | | | | 2,397 | | | | 2,486 | | | | 3,770 | |
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Total long-term debt | | $ | 3,566 | | | $ | 3,477 | | | $ | 4,238 | | | $ | 4,156 | | | $ | 5,409 | |
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Redeemable equity securities | | $ | 5 | | | $ | 5 | | | $ | 8 | | | $ | 13 | | | $ | 143 | |
(A) | In 2012, the Company recognized net income tax expense of $1.8 billion, which includes an increase in our deferred tax valuation allowance on our U.S. deferred tax assets, partially offset by the release of our deferred tax valuation allowance on our Canadian deferred tax assets. |
(B) | In 2011, the Company recognized an income tax benefit of $1.5 billion from the release of a portion of our deferred tax valuation allowance on our U.S. deferred tax assets. |
(C) | Exclusive of current portion of long-term debt. |