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Investor PresentationMay 2016
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Non-GAAP Financial Measures and Forward-Looking Statements
Forward-Looking Statements
This webcast and presentation contain statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and can generally be identified by the use of future dates or words such as "may," "should," "could," “will,” "expects," "seeks to," "anticipates," "plans," "believes," "estimates," "intends," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. These statements also include, but are not limited to the 2016 outlook and projections for reported net sales, value-added sales, EBITDA margin, income before income taxes, capital expenditures and the change in working capital, and the Company’s strategic and operational initiatives, and are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, risks and uncertainties discussed in the Company's Securities and Exchange Commission filings and reports, including the Company's most recent Quarterly Report on Form 10-Q and our reports from time to time filed with the Securities and Exchange Commission. You are cautioned not to unduly rely on such forward looking statements when evaluating the information presented in this presentation. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this presentation.
Use of Non-GAAP Financial Measures
In addition to the results reported in accordance with GAAP included throughout this presentation, this presentation refers to “Adjusted EBITDA,” which we have defined as earnings before interest, taxes, depreciation, amortization, restructuring charges and impairments of long-lived assets and investments and “Value-Added Sales,” which we define as net sales less upcharges primarily for the aluminum value in net sales. Adjusted EBITDA as a percentage of value added sales is a key measure that is not calculated according to GAAP. Adjusted EBITDA as a percentage of value-added sales is defined as Adjusted EBITDA divided by value-added sales.
Management believes the non-GAAP financial measures used in this presentation are useful to both management and investors in their analysis of the Company’s financial position and results of operations. Further, management uses these non-GAAP financial measures for planning and forecasting future periods. This non-GAAP financial information is provided as additional information for investors and is not in accordance with or an alternative to GAAP. These non-GAAP measures may be different from similar measures used by other companies.
We have not quantitatively reconciled differences between Adjusted EBITDA, Adjusted EBITDA margins or valued-added sales and their corresponding GAAP measures due to the inherent uncertainty regarding variables affecting the comparison of these measures. The magnitude of these differences, however, may be significant. We have provided GAAP results and the applicable reconciliations for the first quarter 2016 and full year 2015.
2
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Company Overview
North American market share and capacity leader in aluminum wheels for light vehicles
NYSE listed since 1969 (“SUP”); market cap ~$650M
Five manufacturing facilities - four in Mexico, one in Arkansas
1Q16 LTM unit sales of 11.9M
Approximately 3,200 employees
1Q16 LTM Value-Added Sales of approximately $381M
1Q16 - no debt; cash of $46M
Continuous dividend payout since 1982
Mission critical supplier to leading automotive OEMs
3
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A Highly Differentiated Automotive Product
Integral to vehicle styling appeal
Safety critical component
Key Driver Interface – Ride and Handling
Helps achieve Fuel Economy Standards
4
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Customer Base Includes Industry Leaders
*BMW, Subaru, Mazda, Tesla, Volkswagen
% of Shipments by Customer - 2015 % of Shipments by Vehicle Type - 2015
*Pick-up trucks, vans, SUVs, crossover vehicles
Light Truck*71%
Passenger Car29%Ford
42%
GM25%
Toyota14%
FCA8%
Nissan5%
Others*6%
5
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North American Industry Landscape
North America Market Share – 2015(Includes Wheels Produced Overseas)
Production Capacity within North America - 2015
Superior20%
Prime20%
Dicastal18%
Hitachi6%
Ronal6%
Enkei5%
Sungwoo4%
Hands3%
CMWA3%
Maxion3%
Kalink2%
Wanfeng2%
CAPTIN2%
Borbet2%
Lizhong2%
Lioho2%
Other1%
Superior 36%
Prime 19%Enkei 10%
Hitachi 9%
CMWA 7%
Ronal 7%
Maxion 4%
Borbet 4%Captin 4%
6
Source: Company estimates
-
$0.33
$0.90
$1.80
$0.00
$0.50
$1.00
$1.50
$2.00
2014 2015 2016E
$56
$76
$95
$30
$50
$70
$90
$110
2014 2015 2016E
11.111.2
11.8
11.0
11.2
11.4
11.6
11.8
2014 2015 2016E
$369
$361
$388
$350
$360
$370
$380
$390
$400
2014 2015 2016E
($ in Millions)
+5%
Annual Financial Highlights
+6%
(in Millions)
($ in Millions)+70%
+940bps
15.1%
21.1%
24.5%
(1) Based on mid-point of 2016 guidance provided on 4/19/16; (2) See Appendix for definition of adjusted EBITDA and value-added sales; (3) Based on consensus estimates
(1)
(1)
(1)
7
+~450%
(3)
Units Sold Value-Added Sales(2)
Adjusted EBITDA(2) /Margin as a % of Value-Added Sales Earnings Per Share
-
+41%
+16%
+4%
(16%)
(40%)
(30%)
(20%)
(10%)
0%
10%
20%
30%
40%
50%
May-14 Aug-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16Superior S&P 500 Russell 2000 Peer Set
Total Shareholder Return(1)
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(1) Total Shareholder Returns calculated as the compounded return between two time periods, assuming that dividends are re-invested at the closing share price of the ex-dividend date(2) Peer set reflects the simple average TSR of Accuride, Commercial Vehicle Group, Dorman Products, Drew Industries, Fuel Systems Solutions, Gentherm, Miller Industries, Modine Manufacturing, Shiloh Industries, Spartan Motors, Standard Motor Products, Stoneridge, Strattec Security, and Tower International
(2)
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Current Market Dynamics
Customer Dynamics + Localization of vehicle production+ Customer preference for vehicle differentiation+ Increased number of vehicle models and trim levels per platform + Accelerated program cadence, increased speed to market
Efficiency and Emissions + Focus on light-weighting of vehicles + Substitution of lighter and stronger materials Downsizing, boosting, and electrification of powertrains
Safety and Technology + Continued focus on enhanced safety of passengers Advanced sensors Connected vehicles – advanced infotainment and electronics Autonomous, self driving vehicles
Comfort
+ Tailwind for Superior
+ Increased quality, style and comfort+ Additional features for lower priced vehicles Adaptive drive assistance
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Superior’s Strategic Priorities
Improving global competitiveness
Building on culture of product innovation and technology
Evaluating opportunities for growth and value creation
Balanced approach to capital allocation
Increasing visibility with financial community
10
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Improving Global Competitiveness
Diversifying customer base
Reducing cost per wheel
Enhancing product quality
Expanding value-added offerings
Improving safety
Increasing manufacturing capacity in Mexico
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Superior Transformation
36%
10%
64%
90%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2013 2016
Superior Production Capacity by Country
US Mexico
9% 11%
28% 23%
49%42%
14%24%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015 2018E
Superior Wheel Size Mix
15" + 16" 17" 18" 19" and above
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Platform Sourcing - Mid-Size Car Platform
SuperiorWin
Original Quote Launch Lineup Variance
16'' BASE PAINT No 450,000 250,000 (200,000)
17'' BASE PAINT Yes 435,000 535,000 +100,000
18'' BRIGHT MACHINED Yes 80,000 180,000 +100,000
18'' POLISHED Yes 100,000 - (100,000)
19'' PREMIUM PAINT Yes 90,000 190,000 +100,000
TOTAL ~ 1.2 million ~ 1.2 million
Bidding all wheel styles and sizes on a platform requires a competitive product offering and offers reduced revenue volatility
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Executing strategic investments in IP portfolio
Making process and material handling improvements to cast lighter wheels
Actively working with customers on design ideas and engineering concepts to shorten time to market
Implementing program management process and new ERP system, providing better data for cost analysis
Building on Culture of Product Innovation and Technology
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Superior recognized by Mazda as a 2015 Supplier of Excellence, a
first for Superior
Recent Customer Awards
Recognition of How Superior Interfaces with Customers and Drives Product Innovation and Process Achievements
Superior recently received the GM Supplier of the Year award, the first time in
more than 10 years
“The companies we recognize…not only have brought innovation, they delivered it with the quality our customers deserve.” - GM
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Executing Opportunities for Growth and Value Creation
Launched additional 500,000 wheel capacity at the newest plant in Mexico
Investing in high-end finishing capabilities in Mexico
Focusing on larger more complex products
Establishing global relationships to broaden geographic opportunities
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Balanced Approach to Capital Allocation
Nearly $220M in capital expenditures from 2013 - 2015 to expand capacity, add efficiency, improve process control and maintain plants
Strong track record of both dividends and share repurchases
• Returned $150M to shareholders over the last 5 years
• Cash dividend since 1982 – currently approximately $20M annually
New $50M stock repurchase program approved in January 2016
Financial capacity to strategically pursue M&A prospects to drive growth and value creation
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Financial Performance Outlook for 2016
(1) Value-added sales are defined as net sales less pass-through charges, primarily for the value of aluminum; (2) Net Sales include the value of aluminum and outsourced process costs passed through to customers
Key Metrics Initial 2016 Outlook Current 2016 Outlook
Unit Volume Growth 1% - 4% 3% - 6%
Value-Added Sales1 / $370 - $390 million $380 - $395 millionAdjusted EBITDA Margin 22.3% - 23.1% 24.1% - 24.8%
Net Sales2 / $720 - $740 million $690 - $710 millionAdjusted EBITDA Margin 11.4% - 12.2% 13.3% - 13.8%
Capital Expenditures Approximately $40M Approximately $40M
Working Capital A slight net source of funds A net source of funds
Effective Tax Rate Low 20% range 25% - 27% range
Dividend Payments Approximately $20M Approximately $20M
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Appendix
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$82
$102
$70
$80
$90
$100
$110
Q1 '15 Q1 '16
Value-Added Sales(1)
($ in Millions)
+24%
First Quarter 2016 Summary Financial Highlights
$0.16
$0.56
$0.00
$0.15
$0.30
$0.45
$0.60
Q1 '15 Q1 '16
($1)
$16
($5)
$0
$5
$10
$15
$20
Q1 '15 Q1 '16
$13
$28
$10
$15
$20
$25
$30
Q1 '15 Q1 '16
2.5
3.2
2.3
2.6
2.9
3.2
3.5
Q1 '15 Q1 '16
+25%
Units
Earnings Per Share Operating Cash Flow
(in Millions)
($ in Millions) ($ in Millions)
$174
$186
$170
$175
$180
$185
$190
Q1 '15 Q1 '16
Net Sales
($ in Millions)
+7%
+250%+110%
+1,121bps
16.3%
27.5%
(1) See Appendix for definition of adjusted EBITDA and value-added sales
20
Adjusted EBITDA(1) /Margin as a % of Value-Added Sales
-
First Quarter Income StatementsU
naud
ited
(1) Value-Added Sales excludes aluminum and upcharges(2) 1Q16 and 1Q15 actual EBITDA adjusted for $466K and $1,355K of Rogers closure cost respectively
(US$ in Thousands, except for units and per share amounts)
1Q16 1Q15Actual Actual Actual
Unit Shipments 3,180,049 2,538,345 641,704
Total Revenues 186,065$ 173,729$ 12,337$
Value Added Revenue (1) 102,339$ 82,263$ 20,076$
Gross Profit 27,715$ 11,222$ 16,493$ % of Revenues 14.9% 6.5% 8.4% % of Value-Added Revenue 27.1% 13.6% 13.4%SG&A Expenses (8,993)$ (7,552)$ (1,441)$ % of Revenues -4.8% -4.3% -0.5%
Operating Income 18,722$ 3,669$ 15,052$
Interest Income, net 32$ 85$ (53)$ Foreign Exchange Gain (Loss) 199$ (233)$ 431$ Other Income (Expense), net 69$ 51$ 18$
Income Before Income Taxes 19,022$ 3,573$ 15,449$
Income Tax (Provision) Benefit (4,558)$ 761$ (5,319)$
Net Income 14,464$ 4,334$ 10,131$
Income Per Share - Diluted 0.56$ 0.16$ 0.40$
EBITDA 27,636$ 12,016$ 15,621$ EBITDA % of Revenue 14.9% 6.9% 7.9%EBITDA % of Value-Added Revenue 27.0% 14.6% 12.4%
EBITDA Adjusted (2) 28,102$ 13,370$ 14,731$ EBITDA % Revenue Adjusted (2) 15.1% 7.7% 7.4%EBITDA % Value-Added Revenue Adjusted (2) 27.5% 16.3% 11.2%
Variance
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Summary Balance SheetU
naud
ited
(US$ in Millions)
DecemberASSETS 2016 Actual 2015 ActualCash & Cash Equivalents 45.5$ 52.0$ Short Term Investments 0.8 1.0 Accounts Receivable, net 112.9 112.6 Inventories, net 63.8 61.8 Prepaid Aluminum 18.7 12.4 Other Current Assets 6.5 6.1 Total Current Assets 248.1 245.8
Property, Plant & Equipment 230.4 234.6 Investments 2.0 2.0 Deferred Taxes 25.3 25.6 Other Assets 34.2 31.9 Total Assets 540.0$ 539.9$
LIABILITIES & EQUITYAccounts Payable 23.1$ 20.9$ Other Current Liabilities 50.4 52.9 Total Current Liabilities 73.5 73.9
Non-Current Liabilities 54.8 52.2 Shareholders' Equity 411.8 413.9 Total Liabilities & Equity 540.0$ 539.9$
March
22
BS Data
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Top
Balance Sheet
Superior Industries International, Inc.
Summary Balance Sheets
(US$ in Millions)
MarchIncreaseDecemberIncrease
ASSETS2016 Actual2016 Budget(Decrease)2015 Actual(Decrease)
Cash & Cash Equivalents$ 45.5$ 56.5$ (11.0)$ 52.0$ (6.5)
Short Term Investments0.81.0(0.2)1.0(0.2)
Accounts Receivable, net112.9125.4(12.5)112.60.3
Inventories, net63.868.6(4.7)61.82.1
Prepaid Aluminum18.77.511.112.46.2
Other Current Assets6.518.6(12.1)6.10.4
Total Current Assets248.1277.5(29.4)245.82.3
Property, Plant & Equipment230.4238.1(7.6)234.6(4.2)
Investments2.02.00.02.00.0
Deferred Taxes25.317.57.825.6(0.3)
Other Assets34.230.43.831.92.3
Total Assets$ 540.0$ 565.5$ (25.5)$ 539.9$ 0.1
LIABILITIES & EQUITY
Accounts Payable$ 23.1$ 35.9$ (12.8)$ 20.9$ 2.2
Other Current Liabilities50.444.26.252.9(2.6)
Total Current Liabilities73.580.1(6.6)73.9(0.4)
Non-Current Liabilities54.864.2(9.5)52.22.6
Shareholders' Equity411.8421.2(9.4)413.9(2.1)
Total Liabilities & Equity$ 540.0$ 565.5$ (25.5)$ 539.9$ 0.1
* Net Working Capital$ 172.3$ 165.6$ 6.7$ 165.9$ 6.4
DSOERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
DPOERROR:#NAME?60ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
Inventory Turnover11.211.10.010.70.5
* Net Working Capital capital equals Accounts recievable, Inventory & prepaid aluminum less accounts payable.
A/R112.9125.4112.6
Inventory63.868.661.8
Ppd Alum18.77.512.4
Less: A/P(23.1)(35.9)(20.9)
172.3165.6165.9
Prepaid Aluminum12,424,71618,654,229
Cash Flow YTD
Superior Industries International, Inc.
Summary Cash Flow Statements
3 Months Ended December 2016 and 2015
(US$ in Millions)
1Q162015Increase1Q15Increase
ActualBudget(Decrease)Actual(Decrease)
Net Income (Loss)$ 14.5$ 21.9$ (7.4)$ 4.3$ 10.2
Depreciation8.739.1(30.4)8.50.2
Impairment of Long Lived Assets (Synergies)- 0- 0- 0
Deferred Income Taxes & FIN 48 (0.6)(4.6)4.0(1.5)0.9
Accounts Receivable(1.2)(9.2)8.0(3.9)2.7
Inventories(2.1)(2.0)(0.1)(1.2)(0.9)
Prepaid Aluminum(6.2)0.6(6.8)(7.1)0.9
Accounts Payable and Accrued Liabilities2.35.9(3.6)0.12.2
Other Operations Related Items0.6(0.9)1.5(0.2)0.8
Cash Flow from Operations16.050.8(34.8)(1.0)17.0
Cash Dividends(4.7)(19.5)14.8(4.8)0.1
Capital Expenditures(6.1)(39.2)33.1(15.0)8.9(0.593)
Proceeds from Exercise of Stock Options0.2- 00.24.1(3.9)
Stock Repurchase(11.9)(2.1)(9.8)
Proceeds from Sales of Fixed Assets0.01.0(1.0)1.8(1.8)
- 0- 0
- 0
All Other- 0(0.1)0.1(0.8)0.8
Net Increase (Decrease)(6.5)(7.0)0.5(17.8)11.3
- 0- 0
Cash - Beginning52.085.9(33.9)62.5(10.5)
193193193- 0
Cash - Ending$ 45.5$ 78.9$ (33.4)$ 44.7$ 0.8
Cash Flow Reported $ (6.5)$ (7.0)$ 0.5$ (17.8)$ 11.3
Dividends4.719.5(14.8)4.8(0.1)
Share Repurchases11.9- 011.92.19.8
Plant 15 Capex- 05.0(5.0)7.1(7.1)
Cash flow adjusted$ 10.1$ 17.5$ (7.4)$ (3.8)$ 13.9
Net Income$ 14.5$ 21.9$ (7.4)$ 4.3$ 10.2
Cash Flow Conversion Ratio0.700.80(0.10)(0.88)1.58
Cash Flow qtr
Superior Industries International, Inc.
Summary Cash Flow Statements
Quarter Ended December 2015 and 2014
(US$ in Millions)
4Q154Q15Increase4Q14Increase
ActualBudget(Decrease)Actual(Decrease)
Net Income (Loss)$ (1.3)$ 6.6$ (7.9)$ (3.1)$ 1.8-3.1
0
Depreciation(17.0)10.3(27.3)(17.4)0.4-17.4
Impairment of Long Lived Assets (Synergies)- 0- 0- 0- 0- 0
Deferred Income Taxes & FIN 48 1.5(0.8)2.3(1.8)3.3-0.3
Accounts Receivable17.114.62.513.04.115.4
Inventories(14.4)(4.0)(10.4)10.4(24.8)7.7
Prepaid Aluminum(11.7)7.1(18.8)(1.5)(10.2)4.4
Accounts Payable and Accrued Liabilities(1.1)2.3(3.4)(4.6)3.5-11.8
Other Operations Related Items3.75.6(1.9)(1.7)5.4-1.4
Cash Flow from Operations(23.2)41.7(64.9)(6.7)(16.5)
Cash Dividends9.7(4.9)14.69.8(0.1)
Capital Expenditures26.5(6.7)33.277.0(50.5)
Proceeds from Exercise of Stock Options(7.1)- 0(7.1)(1.5)(5.6)
Stock Repurchase2.5- 02.519.7(17.2)
Net Change in Maturing InvestmentsERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
Proceeds from Sales of Fixed Assets(1.8)- 0(1.8)(0.2)(1.6)
- 0- 0- 0- 0- 0
- 0- 0- 0- 0- 0
- 0- 0- 0- 0- 0
- 0- 0- 0- 0- 0
All Other2.20.12.10.31.9
Net Increase (Decrease)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
- 0- 0
Cash - Beginning49.948.71.283.1(33.2)
193193193- 0
Cash - EndingERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
Cash Flow Reported ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
Dividends(9.7)4.9(14.6)(9.8)0.1
Share Repurchases(2.5)- 0(2.5)(19.7)17.2
Plant 15 Capex0.7- 00.715.6(14.9)
Cash flow adjustedERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
Net Income$ (1.3)$ 6.6$ (7.9)$ (3.1)$ 1.8
Cash Flow Conversion RatioERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!
CheckERROR:#REF!ERROR:#REF!ERROR:#REF!
Plant 15 June Ytd Capex per CI schedule
DSO
Finance
ActualBudgetfin
TotalAdj
All_Depts
Corp.Consol
All_Exptype
All_Projects
USDActualActualActualActualActualActualActualActualActualActualOctfcstBudgetfinBudgetfinBudgetfinBudgetfinActualkBudgetfinBudgetfinBudgetfin
PeriodicYTDPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicPeriodicJunfcstJunfcstJunfcstJunfcst
ERROR:#NAME?2016.Q1ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2015.Q1ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2016.Q1ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?2015.Q12015.Q22015.Q32015.Q4
12100Trade A/RERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 101,971,000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 97,060,132$ 95,874,000$ 98,400,000$ 103,550,000
12200Other A/RERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 8,865,000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
12300Bad Debt ReservesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ (545,000)ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
12000Accounts Receivable NetERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 110,292,000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
30100Trade Sales
Tom Marty: Tom Marty:In aluminum reportACTUALERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 171,877,000$ 180,437,000$ 175,918,000$ 199,116,000
30200Intercompany SalesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
31000Sales AdjustmentsERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
32000Proj Dev RevenuesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
30000Net SalesERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 171,877,000$ 180,437,000$ 175,918,000$ 199,116,000
Days Sales OutstandingERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?48.750.246.1
Change (Mo or Qtr)Days (4,4,5)91919191919191919191919191919191
ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
911822733649118227336491182273364
Note:
DPO
Finance
ActualBudgetfin
TotalAdj
All_Depts
Corp.Consol
All_Exptype
All_Projects
USDActualActualActualActualActualActualActualActualMayfcstBudgetfin
PeriodicPeriodicPeriodicPeriodicPeriodicperiodicYTDPeriodicYTDPeriodicPeriodic
YTDERROR:#NAME?2016.Q12014.Q42015.Q12014.Q42016.Q12014.Q42015.Q42016.Q12016.Q1
211001ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 27,078,000ERROR:#NAME?
211002ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211003ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211005ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211006ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211007ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211022ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211025ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211030ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211110ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211111ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211120ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211125ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
211126ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
22000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 27,078,000ERROR:#NAME?
40000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ 506,955,195
LESSAlum in COGS
Tom Marty: Tom Marty:In aluminum reportACTUAL$ 77,357,925$ 83,600,935ERROR:#VALUE!$ 321,975,327$ 99,323,574
LESS42191ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS44191ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS42110ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS44110ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS42120ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS44120ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS41200ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS45000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS46000ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS43100ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS560210ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS43200ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
LESS43300ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ - 0
LESS43400ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?$ - 0
Adjusted Trade COGSERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
Days Payables OutstandingERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?ERROR:#NAME?
Change (Mo or Qtr)Days (4,4,5)919136436491
Notes:
COGS is adjusted for certain items that do not run through payables:
-AluminumValue in From Aluminum Report
-DepreciationAlum thru COGS
-Wages2014.Jan$ 20,192,924
-Fringes2014.Feb$ 24,299,257
-Scrap Income/Expense2014.Mar$ 33,241,911
-Pre Production Charges2014.Q1$ 77,734,093
-R&D2014.Apr$ 23,978,728
-Obsolete and slow moving Inventory2014.May$ 29,973,345
2014.Jun$ 35,525,900
2014.Q2$ 89,477,974
2014.Jul$ 20,687,635
2014.Aug$ 26,477,239
2014.Sep$ 37,003,434
2014.Q3$ 84,168,308
2014.Oct$ 28,469,997
2014.Nov$ 28,433,768
2014.Dec$ 29,264,181
2014.Q4$ 87,693,000
2015.Jan$ 21,819,47120,845,91321434711.9507045
2015.Feb$ 27,786,16628,781,09229151273.6736037
2015.Mar$ 33,995,29934,700,08234893298.7719325
2015.Q1$ 83,600,935
2015.Apr$ 25,567,94327,204,56027325502.1591162
2015.May$ 25,870,06427,583,39127594872.0603638
2015.Jun$ 32,869,51633,447,60033603894.8861795
2015.Q2$ 84,307,523
2015.Jul$ 18,307,74519,116,34519139956.3469794
2015.Aug$ 25,054,50027,032,64927032649.2350961
2015.Sep$ 32,650,54032,996,59533088986.2741199
2015.Q3$ 76,012,784$ 79,261,592
2015.Oct$ 25,513,12726,577,77226485380.0739015
2015.Nov$ 25,517,41927,020,31327631985.1080396
2015.Dec$ 27,023,53926,764,04126764040.5241281
2015.Q4$ 78,054,084$ 80,881,406
2016.Jan$ 21,423,289
2016.Feb$ 26,073,444
2016.Mar$ 29,861,192
2016.Q1$ 77,357,925
2016.AprGet Data
2016.MayGet Data
2016.JunGet Data
2016.Q2Get Data
2016.JulGet Data
2016.AugGet Data
2016.SepGet Data
2016.Q3Get Data
2016.OctGet Data
2016.NovGet Data
2016.DecGet Data
2016.Q4Get Data
FSM
Action PaneAction PaneShrs OutstandingSTUVXYZAAACADAEAFACADAEAFACADAEAF
AppFINANCEAppFINANCE
ACCOUNTBAL_SHEETACCOUNTWASOYEAR
CATEGORYACTUALCATEGORYBUDGET
DATASRCTotalAdjDATASRCInput
DEPARTMENTALL_DEPTSDEPARTMENTALL_DEPTS
ENTITYCorp.ConsolENTITYCorp.Consol
EXPENSETYPEALL_EXPTYPEEXPENSETYPEALL_EXPTYPE
MEASURESPeriodicMEASURESPeriodic
PROJECTALL_PROJECTSPROJECTALL_PROJECTS3,8553,1495,279
RPTCURRENCYUSDRPTCURRENCYLC
TIME2012.TOTALTIME2014.TOTAL 3,816 4215,279
2010.Q12010.Q22010.Q32010.Q42010.Total2011.Q12011.Q22011.Q32011.Q42011.Total2012.Q12012.Q22012.Q32012.Q42012.Total2013.Q12013.Q22013.Q32013.Q42013.Total2014.Q12014.Q22014.Q32014.Q42014.Total2015.Q12015.Q22015.Q32015.Q42015.Total2016.Q12016.Q22016.Q32016.Q42016.Total2017.Q12017.Q22017.Q32017.Q42017.Total2018.Q12018.Q22018.Q32018.Q42018.Total2015.Q12015.Q22015.Q32015.Q42015.Total
ActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfin
xAcct No.Account NameBPC Base MappingCF MappingAssumptionsNotes(USD in thousands)As of December 31,2010.Q12010.Q22010.Q32010.Q420102011.Q12011.Q22011.Q32011.Q420112012.Q12012.Q22012.Q32012.Q420122013.Q12013.Q22013.Q32013.Q420132014.Q12014.Q22014.Q32014.Q420142015.Q12015.Q22015.Q32015.Q42015F2016.Q12016.Q22016.Q32016.Q42016B2017.Q12017.Q22017.Q32017.Q42017B2018.Q12018.Q22018.Q32018.Q42018F(USD in thousands)As of December 31,2015.Q12015.Q22015.Q32015.Q42015B
Assets Assets
Current Assets Current Assets
10000Cash & Cash Equival101115Cash FlowBeginning cash + Δ in cashCash and cash equivalents127,075133,150130,814129,631$129,631158,304144,474147,067187,795$187,795193,157207,494214,894203,364$203,364186,170202,536182,724199,301$199,301157,799126,69783,13362,451$62,45144,67557,34149,94864,943$64,94336,42256,59045,97778,158$78,15853,94580,58774,641109,482$109,482123,244121,150134,639104,088$104,088Cash and cash equivalents43,21249,74848,77378,883$78,883
11000ST Investments115001InvestingStraight linebeginning investments+purchases- proceedsShort-term investments10,21910,2195,23121,92221,92219,2275,1375,1265,1265,1264,7994,7915,0113,9703,9703,9703,9703,7503,7503,7503,7503,7503,7503,7503,7503,7501,150950950950950950950950950950950950950950950950950950950Short-term investments3,7503,7503,7503,7503,750
12100Trade A/R121000% of Net Sales Trade A/R92,745129,390127,206105,745105,745109,531122,612119,656114,811114,811123,624125,102115,59991,74791,747108,474101,034114,58582,80982,809101,854104,08897,03596,17796,17797,06093,950110,748101,054101,054121,699109,247125,857104,893104,893121,584112,904127,324105,145105,145- 0- 0- 0- 0- 0Trade A/R103,695104,345104,51089,97189,971
12200Other A/R128001Straight line Other A/R7,2727,04710,64111,96411,96415,36113,1277,4415,4235,4233,9544,1255,6197,2937,2936,2646,1826,3977,7247,7247,3157,8077,5746,8306,8308,8799,5638,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,865Other A/R7,5747,5747,5747,5747,574
12300Bad Debt Reserves129100% of Net Sales Bad Debt Reserves(433)(718)(1,225)(983)(983)(704)(1,070)(653)(339)(339)(436)(699)(475)(573)(573)(920)(634)(972)(910)(910)(979)(452)(528)(514)(514)(573)(1,071)(658)(540)(540)(718)(1,245)(748)(561)(561)(718)(1,287)(757)(562)(562)- 0- 0- 0- 0- 0Bad Debt Reserves(424)(453)(431)(475)(475)
12000Accounts Receivable NetOperating1 Accounts receivable, net99,583135,719136,621116,726116,726124,187134,670126,445119,895119,895127,142128,529120,74398,46798,467113,818106,582120,00989,62389,623108,190111,443104,081102,493102,493105,366102,442118,955109,379109,379129,846116,867133,974113,197113,197129,732120,483135,432113,448113,4488,8658,8658,8658,8658,865Accounts receivable, net110,844111,466111,65397,07097,070
13100MRO Inventory130000% of Trade STD COGSBased on Trade STD COGSMRO Inventory9,82311,07711,37611,98111,98112,58913,19112,74614,41714,41715,44715,8586,00610,22510,22510,0179,2288,6909,1579,1579,5699,4398,8398,7718,7719,2508,8018,58910,73710,73711,2249,5168,5049,4009,40011,0779,6928,4789,3019,301- 0- 0- 0- 0- 0MRO Inventory9,1278,8918,5498,5618,561
13200Costed Raw Materials131101Days' Sales in Raw MaterialsBased on aluminum COGSCosted Raw Materials9,3715,9289,6296,5796,5799,81711,83018,67913,98613,9868,5249,71613,0328,7528,75211,8176,3835,7667,9767,9767,0937,8498,19810,53810,53812,1539,3548,76910,15510,15514,74110,9629,89311,05511,05514,43111,0909,82611,02111,021- 0- 0- 0- 0- 0Costed Raw Materials7,2337,7307,4328,2438,243
13300WIP132101Days' Sales in WIPBased on Trade STD COGSWIP24,53124,93929,26634,20634,20640,65630,55129,87326,14726,14732,43830,04232,21731,92331,92333,57927,90232,55130,72830,72827,68126,09633,91229,90629,90632,54332,94639,03928,81828,81839,47538,60844,04131,37231,37238,64439,06043,74131,27531,275- 0- 0- 0- 0- 0WIP27,86629,78228,63531,75931,759
13400Finished Goods133101Days' Sales in Finished GoodsBased on Trade STD COGSFinished Goods20,27818,71921,40323,36423,36421,43324,24121,89215,15415,15419,89919,80620,05822,96522,96524,11231,37126,57026,35526,35525,49225,68525,54023,92723,92724,19325,78920,97923,05723,05729,34730,22123,66725,10025,10028,72930,57423,50625,02325,023- 0- 0- 0- 0- 0Finished Goods25,51525,54325,38925,39925,399
13500Consignment134000Straight line Consignment1,4011,3372,0471,7711,7711,055777777777777777777777777777777777777777Consignment77777
13610Obsolete/Slowing Reserve135001% of Finished Goods Obsolete/Slowing Reserve(13,521)(12,071)(10,987)(10,723)(10,723)(9,872)(9,594)(8,784)(4,629)(4,629)(4,930)(4,972)(262)(116)(116)(146)(124)(150)(145)(145)(169)(156)(191)(216)(216)(252)(246)(316)(208)(208)(305)(288)(357)(226)(226)(299)(292)(354)(225)(225)- 0- 0- 0- 0- 0Obsolete/Slowing Reserve(191)(191)(190)(190)(190)
13630FIFO ReserveNot budgeted FIFO Reserve3,0663,652537,8467,8465,1889,7587,4291,9871,987(2,166)(3,118)(4,377)(1,713)(1,713)(768)(4,354)(5,511)(6,708)(6,708)(3,605)(2,254)1,6231,6991,699(2,639)(6,889)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)(14,772)00000FIFO Reserve- 0- 0- 0- 0- 0
13640LCM ReserveNot budgeted LCM Reserve(173)(250)(204)(191)(191)(186)(214)(148)(142)(142)(133)(129)(142)(133)(133)(564)(181)- 0- 0- 0- 0- 0(118)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 000000LCM Reserve- 0- 0- 0- 0- 0
13650Std Cost Rev ReserveNot budgeted Standard Cost Revisions- 05262864645014851664017363648(33)(258)(178)(178)(188)(67)(137)4444(5)(213)(74)(74)(74)(74)(74)(74)(74)(74)(74)(74)(74)(74)(74)00000Standard Cost Revisions- 0- 0- 0- 0- 0
13600Inventory ReservesInventory Reserves(10,628)(8,143)(11,535)(3,004)(3,004)(4,819)98(1,453)(2,778)(2,778)(7,189)(8,218)(4,773)(1,925)(1,925)(1,430)(4,693)(5,919)(7,030)(7,030)(3,962)(2,477)1,1771,5281,528(3,112)(7,486)(15,562)(15,054)(15,054)(15,151)(15,134)(15,203)(15,072)(15,072)(15,145)(15,138)(15,200)(15,072)(15,072)00000Inventory Reserves(191)(191)(190)(190)(190)
13000Inventories NetOperating2 Inventories, net54,77653,85662,18674,89774,89780,73079,91981,74566,93366,93369,12667,21266,54671,94871,94878,10270,19867,66567,19367,19365,88066,59977,67474,67774,67775,03369,41261,82257,72157,72179,64374,18070,90961,86261,86277,74275,28570,35761,55661,55677777Inventories, net69,55771,76369,82373,78073,780
14000Income Tax Receivable141001Operating5Supporting Schedules Income taxes receivable35(0)(0)1,2211,2211,2212,9803,8234,9504,9501,9933,6691,9034,9254,9254,0344,4605,5757,5847,5844,4502,2646,3043,7403,7401,7841,4202,6632,6632,6632,3332,3332,3332,3332,3332,3332,3332,3332,3332,3332,3332,3332,3332,3332,333Income taxes receivable4,3043,3042,0042,0042,004
14100Current Def Tax Asset141010Operating4Straight line Deferred income taxes7,0981,8212,0393,9203,9206,2456,1103,8145,2995,2995,9995,6415,5137,9357,9358,0547,9047,9457,9177,9177,9147,9257,8549,8979,8979,8129,7649,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,5719,571Deferred income taxes7,8547,8547,8547,8547,854
14210Ppd Taxes142101 Straight line Ppd Taxes9973(201)(81)(81)(52)6064323210761742626110606422221469070171711591474747474747474747474747474747474747Ppd Taxes7070707070
14220Ppd Insurance143101 Straight line Ppd Insurance1635561,0275735732197851,3768438433339221,7931,1271,1278691,0361,4719419414988631,5451,0111,0119451,3761,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,4681,468Ppd Insurance1,5451,5451,5451,5451,545
14230Ppd Rent144000 Straight line Ppd Rent1603535353535353535353739413535353638545450474339394629292929292929292929292929292929292929Ppd Rent4343434343
14240Ppd Aluminum145400 Days' Sales in Prepaid Ppd Aluminum19,5177,07618,02826,88426,8843,30417,93518,95111,74311,74310,7346,8776,50710,63310,63315,62810,74210,8336,1146,11414,59910,74411,71514,40414,40421,50818,3598,91712,85812,85817,67912,29813,44715,67915,67919,09312,49513,70216,03916,03920,65512,88410,99715,58315,583Ppd Aluminum17,72812,44813,4887,5867,5865,279
14250Ppd Other146105 Straight line Ppd Other1,3041,5031,3981,3351,3351,1382,4112,518131131121642,5782,4772,4771,6421,2921,0751,7181,7181,2049396792,2962,2962,3621,8031,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,9071,907Ppd Other679679679679679
14200Ppd & Other Curr AssetOperating3Other current assets21,2439,24320,28828,74728,7474,64321,22622,94412,78512,78511,3337,96310,99414,29914,29918,28413,16613,4818,8498,84916,49812,68314,05217,76817,76824,97621,65812,36716,30816,30821,12915,74816,89719,12919,12922,54315,94517,15219,48919,48924,10516,33414,44719,03319,033Other current assets20,06514,78515,8259,9239,923
14900Assets Held for SaleInvestingNot budgeted Assets held for sale6,7586,7576,6054,5484,5484,5484,2094,2091,5001,5001,5001,500- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01,0001,2351,235- 02,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,8972,897Assets held for sale- 0- 0- 0- 0- 0
100Current AssetsTotal current assets326,786350,765363,784381,612381,612399,107398,725395,172404,283404,283415,049426,799425,604404,909404,909412,432408,817401,149384,218384,218364,482331,360297,849276,011276,011265,397266,084259,172264,432264,432282,791279,137283,509288,097288,097299,713308,051313,334319,727319,727171,972162,108173,709147,744147,744Total current assets259,586262,671259,683273,265273,265
0 - 0- 0- 0- 0- 0- 0- 0- 0- 0 - 0
17000PP&E Cost170010Investing1Schedule PP&E500,556483,045486,264491,856491,856500,244509,965479,726474,986474,986492,471482,160492,039494,794494,794514,453507,757548,404581,123581,123612,977632,824628,430605,554605,554608,004598,879584,054591,233591,233598,882606,532614,181621,830621,830628,255634,680641,105647,530647,530655,030662,530670,030677,530677,530PP&E657,038667,746676,509683,251683,251
18000PP&E Accum Dep180020 Schedule PP&E Accum Dep(320,383)(311,059)(319,031)(324,649)(324,649)(332,058)(342,198)(331,036)(329,239)(329,239)(342,289)(339,924)(344,942)(347,250)(347,250)(361,197)(357,953)(361,627)(361,231)(361,231)(367,701)(370,355)(369,912)(350,519)(350,519)(353,728)(351,230)(344,251)(353,343)(353,343)(363,788)(374,269)(384,091)(393,978)(393,978)(403,450)(412,914)(421,836)(430,813)(430,813)(430,813)(430,813)(430,813)(430,813)(430,813)PP&E Accum Dep(389,855)(399,482)(409,422)(419,697)(419,697)
Manual SumPP&EInvestingBeg. Bal + CapEx - DeprProperty, plant and equipment, net180,173171,986167,233167,207167,207168,186167,767148,689145,747145,747150,182142,237147,097147,543147,543153,257149,804186,776219,892219,892245,276262,469258,518255,035255,035254,276247,649239,803237,890237,890235,094232,263230,090227,853227,853224,805221,767219,269216,717216,717224,217231,717239,217246,717246,717Property, plant and equipment, net267,183268,265267,087263,554263,554
19000Investment in Subs191010InvestingStraight lineInvestment in SynergiesInvestment in unconsolidated affiliate20,64602,5004,5004,5004,8464,7944,7424,7254,7254,6384,6384,6384,6384,6384,6384,6384,6384,5654,5654,5594,5224,5002,0002,0002,0002,0002,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,0132,013Investment in unconsolidated affiliate4,5004,5004,5004,5004,500
19100LT Deferred Tax Asset195500Operating4Straight lineLT Deferred Tax AssetNon-current deferred income taxes, net018,32421,670- 0- 0- 0- 0- 016,79516,79514,10411,63347117,03917,03917,39817,30717,29014,664
William McBride: William McBride:decrease due to SERP, actuarial gain adj. to OCI. Non cash related.14,66414,87814,78215,10517,85217,85215,39615,21617,48117,48117,48118,94518,94518,94518,94518,94518,94518,94518,94518,94518,94518,94518,94518,94518,94518,945Non-current deferred income taxes, net15,10615,10615,10615,10615,106
19800Other Long Term Assets193110Operating3Straight lineSERPOther non-current assets16,63719,95817,75419,12319,12318,45717,51718,20821,68221,68222,98322,55027,69325,47225,47225,83329,60729,13330,04830,04831,91630,79429,73529,01129,01129,43830,48730,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,39130,391Other non-current assets29,73529,73529,73529,73529,735
16000Long Term AssetsTotal long-term assets217,457210,269209,157190,830190,830191,489190,079171,639188,948188,948191,907181,058179,899194,693194,693201,127201,355237,838269,170269,170296,629312,567307,858303,898303,898301,110295,351289,688287,775287,775286,443283,612281,439279,202279,202276,154273,116270,618268,066268,066275,566283,066290,566298,066298,066Total long-term assets316,523317,605316,427312,894312,894
1AssetsTotal Assets544,243561,033572,941572,442572,442590,596588,804566,811593,231593,231606,956607,857605,504599,601599,601613,559610,172638,987653,388$653,388661,111643,927605,707579,910$579,910$566,507$561,435$548,860$552,207$552,207$569,234$562,748$564,947$567,299$567,299$575,868$581,167$583,952$587,793$587,793$447,538$445,174$464,276$445,810$445,810Total Assets$576,110$580,276$576,110$586,160$586,160
Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity
Current Liabilities Current Liabilities
22000Accounts Payable211001Operating6Supporting Schedules Accounts payable26,01732,40131,49630,230$30,23030,16924,36926,29529,018$29,01830,79538,98436,02432,400$32,40032,55732,24533,36634,494$34,49432,63231,70925,97123,93823,93822,49022,93626,22829,126$29,12641,26433,05031,02933,697$33,69734,53033,97929,45532,220$32,220(90,642)(88,435)(64,562)(78,190)($78,190)Accounts payable16,89720,78019,02428,473$28,473
23100Payroll & Benefits221001Operating7Supporting Schedules Payroll & Benefits12,29412,77814,39313,23913,23915,08314,98615,31714,73914,73915,45115,30417,00314,02614,02616,41115,25517,52616,07616,07616,28715,31718,35514,70914,70913,99512,76514,31213,22813,22814,47813,53214,64712,48012,48014,38513,74514,91712,73112,731- 0- 0- 0- 0- 0Payroll & Benefits16,14816,08815,56215,70015,700
23200Insurance Reserves223501Operating7Straight line Insurance Reserves2,2901,8182,0512,1742,1742,0401,9321,9372,1072,1071,9371,9431,8181,7381,7381,5712,0622,0401,9371,9371,9311,9461,8621,7881,7881,5991,5601,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,547Insurance Reserves1,8621,8621,8621,8621,862
23300Interest & Dividends223901Financing1Supporting Schedules Interest and Dividends4,2674,2674,2734,2904,2904,3124,3444,3464,3474,3474,3504,3564,360- 0- 0- 0- 05494,8844,8844,8844,8394,7944,8624,8624,9304,9714,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,9594,959Interest and Dividends4,7944,7944,7944,7944,794
23400Taxes Other Than Income224011Operating7Straight lineVAT Tax, Comp Withholding, Sales&UseTaxes Other Than Income10,63013,01913,46112,91712,91713,63711,86911,43011,77611,77612,04013,2049,0778,1918,1918,4143,4884,0645,7305,7307,6158,1187,2396,9616,9617,1597,5645,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,4625,462Taxes Other Than Income7,2397,2397,2397,2397,239
239996Other Accrued Liab-USD224011Operating7Straight line Other Accrued Liab-USD- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 07,27317,56517,56524,66220,8047,9613413410- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Other Accrued Liab-USD- 0- 0- 0- 0- 0
239997Other Accrued Liab-EUR224011Operating7Straight line Other Accrued Liab-EUR- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 04,9817,4857,4857,6204,1941,2092,7662,766990- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Other Accrued Liab-EUR- 0- 0- 0- 0- 0
239998Other Accrued Liab-MXN224011Operating7Straight line Other Accrued Liab-MXN- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 03,8212,6182,6182,2462,671458983983435- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Other Accrued Liab-MXN- 0- 0- 0- 0- 0
OtherOther4,7153,8253,8772,1962,1962,2501,6691,7721,4051,4052,5302,6612,3902,2782,2781,9091,6732,5902,5652,5653,7362,6153,0628,2788,2789,6649,52614,247- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Other- 0- 0- 0- 0- 0
23500Other Accrued Liab239401Investing1Supporting Schedules Other Accrued Liabilities4,7153,8253,8772,1962,1962,2501,6691,7721,4051,4052,5302,6612,3902,2782,2781,9091,67318,66630,23430,23438,26530,28512,69012,36812,36811,0899,52614,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,24714,247Other Accrued Liabilities3,0623,0623,0623,0623,062
23000Accrued Expenses Accrued expenses34,19635,70838,05634,81634,81637,32334,80134,80134,37434,37436,30837,46734,64826,23326,23328,30522,47842,84558,86158,86168,98160,50544,93940,68940,68938,77136,38640,52639,44239,44240,69139,74640,86138,69438,69440,59839,95841,13038,94538,94526,21426,21426,21426,21426,214Accrued expenses33,10433,04432,51832,65632,656
24000Income Tax Payable247100Operating5Straight lineFederal and foreign taxes payableIncome tax payable2,23476141(0)(0)4,8861,495(0)008209693,1781,9571,957(52)351000326(27)2,2362,2361,5322,8240001,1341,1341,1341,1341,1341,1341,1341,1341,1341,1341,1341,1341,1341,1341,134Income tax payable(27)(27)(27)(27)(27)
25000Current Def Tax LiabOperating4Not budgeted Deferred tax liability- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Deferred tax liability- 0- 0- 0- 0- 0
25200Current Tax Liabilities249100Operating7Not budgeted Current tax liabilities- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0300300300- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Current tax liabilities- 0- 0- 0- 0- 0
26000Deferred Revenue250100Operating7Straight line Deferred revenue6,7347,9155,4405,4915,4915,5355,0115,4275,1585,1584,7264,7355,7085,6885,6886,0096,1766,0716,0756,0755,8385,5015,8015,1005,1004,5774,4903,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,5913,591Deferred revenue5,8015,8015,8015,8015,801
20001Current LiabilitiesTotal current liabilities69,18176,10075,13470,53870,53877,91365,67766,52368,55068,55072,64982,15579,55866,57866,57867,11961,24982,28299,43099,430107,48397,72176,68471,96271,96267,37166,63670,34572,15972,15986,68177,52276,61577,11677,11679,85478,66375,31175,89075,890(59,703)(57,496)(33,623)(47,251)(47,251)Total current liabilities55,77659,59957,31766,90366,903
27200Intercompany Liabilities260107Not budgeted Intercompany Liabilities30000(0)00(0)(0)(0)(0)(0)(0)(0)(0)(0)(0)00(0)(0)(0)(0)(0)0(0)111111111111111111Intercompany Liabilities(0)(0)(0)(0)(0)
27700LT Def Tax Liability284050Operating4Supporting SchedulesDue to accelerated depreciationNon-current deferred income tax liabilities, net32,65446,43749,05525,49225,49226,12221,70914,833(0)(0)(0)(0)(0)18,87618,87619,95518,66318,96921,07021,07021,00321,07220,35415,12215,12215,51315,21913,95013,95013,95013,13312,31611,49810,68110,68110,2819,8819,4819,0819,0818,3087,5356,7625,9895,989Non-current deferred income tax liabilities, net18,54417,66416,78315,90315,903
27800LT Tax Liabilities285000Operating8Supporting SchedulesFin48 adjustments - LT liability for uncertain taxNon-current income tax liabilities29,13129,37230,33733,04933,04934,80036,03831,44933,10233,10237,22229,2129,74411,32811,32811,97711,73012,25515,05015,05015,56816,01916,15413,62113,6217,0577,1908,2298,2298,2298,0087,7867,5647,3437,3437,0596,7766,4926,2096,2096,4096,6096,8097,0097,009Non-current income tax liabilities13,48113,68112,71511,87011,870
27900Other LT Liabilities289001Operating7Straight line Other non-current liabilities31,86829,14430,01329,88129,88129,96629,16029,61331,06331,06330,95731,13933,20635,91435,91435,67439,52238,50034,77534,77534,42234,03834,61540,19940,19940,65540,07643,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,08043,080Other non-current liabilities34,61534,61534,61534,61534,615
27000Long Term LiabilitiesTotal long-term liabilities93,656104,953109,40588,42288,42290,88986,90775,89564,16664,16668,17860,35242,95066,11866,11867,60669,91569,72470,89470,89470,99271,12971,12368,94268,94263,22562,48565,26065,26065,26064,22163,18262,14361,10461,10460,42159,73759,05458,37058,37057,79757,22456,65156,07856,078Total long-term liabilities66,64065,95964,11362,38862,388
Manual SumTotal Liabilities 162,838181,053184,539158,960158,960168,802152,584142,418132,716132,716140,827142,507122,508132,696132,696134,725131,164152,007170,325170,325178,476168,850147,807140,904140,904130,596129,122135,605137,420137,420150,902140,704138,758138,220138,220140,274138,400134,364134,260134,260(1,906)(271)23,0298,8288,828Total Liabilities 122,416125,558121,430129,291129,291
Shareholders' Equity Shareholders' Equity
291000Common Stock291000Operating9Straight line Common Stock57,08257,90258,26561,67561,67563,75967,46468,12668,77568,77569,62770,19371,00271,81971,81959,67660,69960,76060,94560,94561,69862,54063,35965,21465,21468,74070,44069,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,99369,993Common Stock63,35963,35963,35963,35963,359
291001Stock Option Tax Effects291001Operating9Straight line Stock Option Tax Effects- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01,0911,3401,303192192126(113)(146)(224)(224)(416)(1,614)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)(1,688)Stock Option Tax Effects(146)(146)(146)(146)(146)
291002Stock Based Compensation291002Operating9Reference P&LBased on Q1'13 plus forecasted stock based comp. (A/C 635100).Stock Based Compensation- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 012,02212,14812,98314,16814,16814,78815,41015,99916,48316,48317,04117,75318,54319,15219,15219,72820,30320,87821,45221,45222,32723,20224,07724,95224,95225,69526,52627,15827,72527,725Stock Based Compensation17,01617,52918,04218,55518,555
29100Capital Stock Capital Stock57,08257,90258,26561,67561,67563,75967,46468,12668,77568,77569,62770,19371,00271,81971,81972,78974,18775,04675,30575,30576,61277,83779,21381,47381,47385,36586,57986,84887,45887,45888,03388,60889,18389,75889,75890,63391,50892,38393,25893,25894,00094,83195,46396,03096,030Capital Stock80,22980,74281,25581,76981,769
29200APIC292000Not budgeted APIC- 0- 0- 0- 0- 0- 00000000000000000000000- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0APIC- 0- 0- 0- 0- 0
29310Beg Retained Earnings293000Beg Retained Earnings372,994372,994372,989424,633424,633424,633424,633424,633491,802491,802491,802491,802491,802491,802491,802522,693522,693522,693522,693522,693545,517545,517545,517545,517545,517554,320554,320554,320554,320554,320581,644581,644581,644581,644581,644612,957612,957612,957612,957612,957653,234653,234653,234653,234653,234Beg Retained Earnings552,182552,182552,182552,182552,182
29999Current Earnings299999 Current Earnings8,89718,98729,385- 0- 08,05422,75426,982- 0- 06,73313,14728,20430,89130,8914,93411,25816,42922,82422,8244,8229,8617,4428,8038,8034,33410,86615,81427,32427,3247,79915,76724,16831,31331,31310,47121,60032,37640,27640,276- 0- 0- 0- 0- 0Current Earnings5,61811,01215,34521,90221,902
295000Ret Earnings -SUP Buyback295000 Share Repurchase- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0(6,969)(6,969)(8,548)(18,071)(25,605)(25,605)(25,605)(27,329)(31,893)(37,494)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)(43,251)Share Repurchase(25,605)(25,605)(25,605)(25,605)(25,605)
29320Dividends Declared294000Financing1Straight line Dividends Declared(4,267)(8,534)(12,814)(17,104)(17,104)(21,423)(25,769)(30,115)(34,462)(34,462)(38,811)(43,167)(47,527)(64,993)(64,993)(64,993)(64,993)(65,542)(70,427)(70,427)(75,314)(80,159)(84,942)(89,756)(89,756)(94,615)(99,455)(104,224)(109,054)(109,054)(113,885)(118,715)(123,546)(128,376)(128,376)(133,207)(138,037)(142,868)(147,698)(147,698)(152,529)(157,359)(162,190)(167,020)(167,020)Dividends Declared(94,708)(99,591)(104,474)(109,357)(109,357)
29300Retained EarningsRetained Earnings377,623383,447389,561407,529407,529411,264421,618421,500457,341457,341459,724461,782472,479457,700457,700462,634468,958473,580468,122468,122466,478457,148442,412438,959438,959436,711433,838428,417429,339429,339432,308435,445439,016441,330441,330446,970453,269459,214462,284462,284457,454452,623447,793442,962442,962Retained Earnings437,487437,998437,448439,123439,123
29400Accumltd OCI Gain/Loss296000Straight line Accumulated other comprehensive loss(53,300)(61,369)(59,424)(55,722)(55,722)(53,228)(52,861)(65,233)(65,600)(65,600)(63,223)(66,625)(60,484)(62,614)(62,614)(56,589)(64,138)(61,646)(60,363)(60,363)(60,455)(59,908)(63,726)(81,425)(81,425)(86,164)(88,103)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)(102,009)Accumulated other comprehensive loss(64,023)(64,023)(64,023)(64,023)(64,023)
29000Shareholders' EquityBeg. Bal+NI-Div+(-)OtherTotal Shareholders' Equity381,405379,981388,402413,482413,482421,795436,220424,393460,515460,515466,129465,350482,996466,905466,905478,834479,008486,980483,063483,063482,636475,077457,900439,006439,006435,912432,313413,255414,787414,787418,332422,044426,189429,078429,078435,593442,768449,587453,533453,533449,444445,445441,247436,983436,983Total Shareholders' Equity453,694454,718454,681456,869456,869
20000Liabilities & SH EquityTotal Liabilities and Shareholders' Equity544,243561,033572,941572,442$572,442590,596588,804566,811593,231$593,231606,956607,857605,504599,601$599,601613,559610,172638,987653,388$653,388661,111643,927605,707579,910$579,910566,507561,435548,860552,207$552,207569,234562,748564,948567,299$567,299575,868581,168583,952587,793$587,793447,538445,174464,276445,810$445,810Total Liabilities and Shareholders' Equity576,110580,276576,110586,160$586,160
Balance check0(0)0(0)000(0)- 0- 0(0)(0)(0)(0)0.00.0(0.0)(0.0)(0.0)(0.0)(0.0)(0.0)(0.0)(0.0)(0.0)(0)($0.0)($0.0)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)($0.1)(0)(0)(0)(0)(0)Balance check(0.000000)(0.000000)(0.000000)(0.000000)(0.000000)
xAccountBudget assumptionMappingDescription(USD in thousands)Fiscal Year Ended December 31,2010.Q12010.Q22010.Q32010.Q420102011.Q12011.Q22011.Q32011.Q420112012.Q12012.Q22012.Q32012.Q420122013.Q12013.Q22013.Q32013.Q420132014.Q12014.Q22014.Q32014.Q420142015.Q12015.Q22015.Q32015.Q42015F2016.Q12016.Q22016.Q32016.Q42016B2017.Q12017.Q22017.Q32017.Q42017B2018.Q12018.Q22018.Q32018.Q42018F(USD in thousands)Fiscal Year Ended December 31,2015.Q12015.Q22015.Q32015.Q42015B
99999 NET INCOME (LOSS)$8,897$10,090$10,398$22,258$51,643$8,054$14,700$4,228$40,187$67,169$6,733$6,414$15,056$2,687$30,891$4,934$6,324$5,171$6,395$22,824$4,822$5,039($2,419)$1,361$8,803$4,334$6,533$4,948$11,510$27,324$7,799$7,968$8,401$7,145$31,313$10,471$11,130$10,775$7,901$40,276- 0- 0- 0- 0- 0NET INCOME (LOSS)$5,618$5,394$4,333$6,558$21,902$11,012
Adjustments to reconcile net income (loss)Adjustments to reconcile net income (loss)- 0
to net cash provided by operating activities:to net cash provided by operating activities:- 0
42191MFG-Depreciation & Amort6,1425,8486,0046,358$24,3536,4436,5076,7456,507$26,2026,4386,6899,7828,748$31,6577,6998,0208,2348,428$32,3809,8079,9269,2529,236$38,2218,8348,9098,3528,327$34,422- 08,5859,0729,3709,624$36,652$17,657
44191CSD-Depreciation & Amort34346169$19869675653$24651494937$186434026214$32357634739$20557634739$205- 057634739$205$120
61191ADM-Depreciation & Amort435440456463$1,794463476517544$2,0005665891,643914$3,712780433409447$2,069575485516604$2,181575485516604$2,181- 0575485516604$2,181$1,060
62191SEL-Depreciation & Amort4445$185555$196777$276433$156788$286788$28- 06788$28$13
Depreciation29,09327,5386,6166,3266,5256,89526,3626,9807,0557,3237,10928,4667,0617,33511,4819,70535,5828,5288,4968,6719,09234,78710,44610,4819,8229,88640,6359,4729,4638,9238,97736,836- 0- 0- 0- 0- 0Depreciation9,2249,6279,94110,27439,066$18,850
Operating8Fin48 and VATReserve changes- 0- 0(25,175)(1,100)(26,275)3564184052,5513,730523419374(1,897)(581)(6,452)1361,050- 0(5,266)(222)(222)(222)(222)(887)(283)(283)(283)(283)(1,134)200200200200800Reserve changes(2,973)200(967)(845)(4,584)($2,773)x($2,606)
Loss on sale of investment4,110- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Loss on sale of investment- 0- 0- 0- 0- 0- 0
Impairment of long-lived assets1,1531,336- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 02,5002,500- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Impairment of long-lived assets- 0- 0- 0- 0- 0- 0
Not budgetedOther 55107(202)62153(601)(588)319(170)54(607)(404)2181,734770(273)2,4491,04449203- 01,297- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Other - 0- 0- 0- 0- 0- 0
Operating9Non-cash expense (A/C 635100). Approx. $2M Annl.Stock based compensation2,3732,2514845175055662,0725394475141,1852,6856196905234832,3155597117906102,6695765755755752,3008758758758753,5007428316325662,772Stock based compensation5135135135132,052$1,026x
Equity losses (earnings) of joint venture, net of dividends received2,847- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Equity losses (earnings) of joint venture, net of dividends received- 0
Not budgetedNet (gain) loss on disposal of assets486- 0- 0161171332- 0- 0(6)(4)(10)- 0- 0116(5)111(534)(97)(31)- 0(662)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Net (gain) loss on disposal of assets- 0- 0- 0- 0- 0- 0
Operating4Per G.BormanDeferred Income Taxes8,627(38,704)(2,898)6,70310,417(596)13,626(339)16(22)2,2451,900(341)(201)(431)(4,229)(5,202)4,227(1,638)551- 03,140(817)(817)(817)(817)(3,269)(400)(400)(400)(400)(1,600)(773)(773)(773)(773)(3,092)Deferred Income Taxes(880)(880)(880)(880)(3,521)($1,761)
Not budgeted(Gain) loss on disposition of fixed assets- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0(Gain) loss on disposition of fixed assets- 0- 0- 0- 0- 0- 0
Not budgetedGain on Land Grant- 0- 0- 0- 0- 0- 0- 0- 0(681)(681)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Gain on Land Grant- 0- 0- 0- 0- 0- 0
Not budgetedUnrealized foreign exchange (gain)/loss- 0- 0(299)299- 0- 0(70)70- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Unrealized foreign exchange (gain)/loss- 0- 0- 0- 0- 0- 0
Changes in operating assets and liabilities:Changes in operating assets and liabilities:- 0
Operating1Accounts Receivable(22,136)(11,016)(6,423)(4,098)10,06721,88221,428(14,779)6,253(13,087)30,6879,074(18,946)(4,346)6,421687(16,184)(3,855)2,891(17,350)9,576(8,738)(20,467)12,979(17,107)20,777(3,818)(16,535)9,249(14,949)21,984(251)104,583- 0- 0- 0104,583Accounts Receivable(22,992)(622)(187)14,583(9,218)($23,614)
Operating2Inventories(25,832)4,609(2,835)2,079(4,710)(2,879)(8,345)(5,837)8,2752,8784005,716488(1,437)(10,624)2,276(9,297)(1,192)6,3877,0854,10116,380(21,922)5,4623,2719,048(4,141)(15,880)2,4574,9288,80130661,549- 0- 0- 061,549Inventories2,245(2,206)1,940(3,957)(1,978)$39
Operating7Other AccruedOther liabilities4,4486,6562,1554,1004,825(2,296)8,7843,1211341,4172,4787,1504,126(1,262)
William McBride: William McBride:($2.1M)-Borick Retirement5,428(3,461)4,831797(294)707(1,084)1261,250(945)1,114(2,167)(748)1,904(640)1,172(2,186)251(12,731)- 0- 0- 0(12,731)Other liabilities(2,104)(60)(526)138(2,552)($2,164)x
Operating3Primarily Prepaid AluminumOther assets(23,961)8,031(382)1,570(4,018)(5,296)(8,126)(5,879)(1,382)1,9741,717(3,570)(10,402)3,986(2,538)(5,016)(13,970)(8,478)2768,009(3,941)(4,134)(4,822)5,381(1,149)(2,231)(2,821)(3,414)6,598(1,207)(2,337)(360)(4,616)7,7711,886(4,586)456Other assets(10,773)5,279(1,039)5,901(632)($5,494)
Other assets, net(19,512)14,6871,7735,670807(7,592)658(2,759)(1,248)3,3914,1953,579(6,276)2,7242,890(8,477)(9,139)(7,681)(18)8,716(5,025)(4,007)(3,572)4,436(35)(4,398)(3,569)(1,510)5,958(35)(4,523)(110)(17,347)7,7711,886(4,586)(12,275)Other assets, net(12,877)5,219(1,565)6,040(3,183)($7,657)
Operating6Accounts payable5,488(719)1,2268,447(4,186)(2,803)2,684(804)768411(2,924)(2,549)(2,015)(1,895)(827)(1,372)(6,109)(682)5403,5102,8996,26712,137(8,213)(2,022)2,6684,570833(551)(4,524)2,765(1,477)(122,862)2,20823,873(13,628)(110,410)Accounts payable(5,579)3,883(1,756)9,4485,996($1,696)x
Operating5Income taxes receivable/payable7,713(3,553)3,801(1,543)3,967(2,439)3,786(1,216)(165)(1,644)(1,755)(4,780)3,1612,165(4,122)5,1746,3787242,198(4,145)- 0(1,223)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Income taxes receivable/payable2,0001,0001,300- 04,300$3,000x
Potential tax exposure (i.e., tax uncertainties which may reversed during audit).Noncurrent income tax liability (FIN 48)(15,043)3,4681,705(5,993)3033,115(870)(24)24- 0(297)(297)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Noncurrent income tax liability (FIN 48)- 0- 0- 0- 0- 0- 0
Net Cash Provided (Used) by Operating Activities30,57867,6599,98024,58413,89017,30665,761(12,631)27,9975,31848,56969,253(10,686)12,2274,1525,93311,626(981)26,18813,99932,76271,968(16,042)32,6491,86744,66163,134(12,958)37,8985,31046,09776,34626,09210,23725,819(18,220)43,927Net Cash Provided (Used) by Operating Activities(25,701)22,12812,67141,73450,833($3,573)
CASH FLOWS FROM INVESTING ACTIVITIES: CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment($22,094)($4,924)(8)(2,800)(1,170)1($3,977)(200)(2,600)(950)- 0(3,750)(200)(2,600)(950)(3,750)(200)200(950)- 0(950)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Purchase of investment- 0- 0- 0- 0- 0- 0
Proceeds from sales of fixed assets$406$1,66041321,925(80)$1,9814(2)1131638551,880(100)1,8731,758- 057- 01,815- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Proceeds from sales of fixed assets1,000- 0- 0- 01,000$1,000
Proceeds from sale of investments$36,149$21,7203352,8079501,041$5,1332002,6001,170- 03,9702002,6009503,7502002,4001,150- 03,750- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Proceeds from sale of investments- 0- 0- 0- 0- 0- 0
Collection of receivable from Suoftec sale$4,945$2,867- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Collection of receivable from Suoftec sale- 0- 0- 0- 0- 0- 0
Purchase of equity investments($4,500)- 0- 0- 0- 0- 0- 0Purchase of equity investments- 0
Advance (to) from affiliated company($450)5252- 0- 0$104- 0- 0- 073733437877823637- 00- 037- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Advance (to) from affiliated company- 0- 0- 0- 0- 0- 0
Premiums paid on life insurance($447)($637)- 0- 0(352)(1)($353)- 0(347)- 0(347)- 0(340)- 0(340)- 0- 0(333)- 0(333)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Premiums paid on life insurance- 0- 0- 0- 0- 0- 0
Proceeds from life insurance policy$4061,726- 0- 0(1)$1,725297- 0- 0297594352- 0- 0- 0352- 0278(0)- 0278- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Proceeds from life insurance policy- 0- 0- 0- 0- 0- 0
Proceeds from affordable-housing partnership investment- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Proceeds from affordable-housing partnership investment- 0- 0- 0- 0- 0- 0
Proceeds from affordable housing partnership investment- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Proceeds from affordable housing partnership investment- 0- 0- 0- 0- 0- 0
Investing1Additions to property, plant and equipment($9,313)($16,961)(4,288)(4,373)(5,604)(8,880)($23,145)(7,753)(9,387)(26,268)(24,572)(67,980)(25,423)(30,055)(36,565)(20,512)(112,555)(14,983)(8,352)(9,294)(7,179)(39,808)(7,649)(7,649)(7,649)(7,649)(30,598)(6,425)(6,425)(6,425)(6,425)(25,700)(7,500)(7,500)(7,500)(7,500)(30,000)Additions to property, plant and equipment(13,064)(10,709)(8,763)(6,741)(39,277)($23,772)
Net Cash Provided (Used) in Investing Activities5,1463,681(2,179)(4,182)(4,251)(7,920)(18,532)(7,452)(9,389)(26,384)(24,199)(67,424)(24,999)(29,963)(34,938)(20,534)(110,434)(13,188)(5,474)(9,370)(7,179)(35,211)(7,649)(7,649)(7,649)(7,649)(30,598)(6,425)(6,425)(6,425)(6,425)(25,700)(7,500)(7,500)(7,500)(7,500)(30,000)Net Cash Provided (Used) in Investing Activities(12,064)(10,709)(8,763)(6,741)(38,277)($22,772)
CASH FLOW FROM FINANCING ACTIVITIES:CASH FLOW FROM FINANCING ACTIVITIES:
Financing1Cash dividends paid($17,108)($17,358)(4,347)(4,356)(4,360)(21,815)($34,878)- 0- 0- 0(550)(550)(4,886)(4,891)(4,828)(4,746)(19,351)(4,791)(4,798)(4,782)(4,831)(19,201)(4,831)(4,831)(4,831)(4,831)(19,322)(4,831)(4,831)(4,831)(4,831)(19,322)(4,831)(4,831)(4,831)(4,831)(19,322)Cash dividends paid(4,883)(4,883)(4,883)(4,883)(19,532)($9,766)
Stock options exercised$2,448$4,54636750393720$1,5304317023821,3512,8661,0152,4562,0971,8557,4233,8712,613781- 07,265- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Stock options exercised- 0- 0- 0- 0- 0
Repurchases of common stock- 0- 0- 0- 0- 0- 0- 0- 0(8,134)(8,134)(1,840)(11,138)(8,812)- 0(21,790)(2,069)(5,478)(6,827)(5,757)(20,131)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Repurchases of common stock- 0- 0- 0- 0- 0
Excess tax benefit from exercises- 0$303- 0- 0- 04$4- 0324(2)(70)2523232159106192(186)(6)- 0(0)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Excess tax benefit from exercises- 0- 0- 0- 0- 0
Net Cash Used in Financing Activities(14,660)(12,509)($3,980)($4,306)($3,967)($21,091)(33,344)$431$1,026$380($7,403)(5,566)(5,708)(13,550)(11,522)(2,832)(33,612)(2,797)(7,849)(10,835)(10,588)(32,068)(4,831)(4,831)(4,831)(4,831)(19,322)(4,831)(4,831)(4,831)(4,831)(19,322)(4,831)(4,831)(4,831)(4,831)(19,322)Net Cash Used in Financing Activities(4,883)(4,883)(4,883)(4,883)(19,532)($9,766)
Effect of Exchange Rate Changes on Cash- 0($667)$1,540($1,758)$2,026($124)$1,684$2,458($3,269)$874($389)($326)($109)$184($1,256)($3,249)($4,430)($811)($200)($1,186)- 0($2,196)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Effect of Exchange Rate Changes on Cash- 0- 0- 0- 0- 0
Net Increase (Decrease) in Cash and Equivalents$21,064$58,164$5,361$14,338$7,698($11,829)$15,569($17,194)$16,365($19,812)$16,578($4,063)(41,502)(31,102)(43,564)(20,682)($136,850)(17,776)12,665(7,392)14,9952,492(28,522)20,169(10,613)32,18113,215(24,213)26,642(5,946)34,84131,32413,761(2,093)13,488(30,551)(5,395)Net Increase (Decrease) in Cash and Equivalents(42,647)6,536(975)30,110(6,976)($36,111)
Cash and Equivalents at Beginning of Period$108,567$129,631$187,795$193,156$207,494$215,193$187,795$203,364$186,170$202,536$182,724203,364199,301157,799126,69783,133199,30162,45144,67557,34049,94862,45164,94336,42256,59045,97764,94378,15853,94580,58774,64178,158109,482123,244121,150134,639109,482Cash and Equivalents at Beginning of Period85,85943,21249,74848,77385,859
Cash and Equivalents at End of Period$129,631$187,795$193,156$207,494$215,193$203,364$203,364$186,170$202,536$182,724$199,301$199,301$157,799$126,697$83,133$62,451$62,451$44,675$57,340$49,948$64,943$64,943$36,422$56,590$45,977$78,158$78,158$53,945$80,587$74,641$109,482$109,482$123,244$121,150$134,639$104,088$104,088Cash and Equivalents at End of Period$43,212$49,748$48,773$78,883$78,883
Balance check$0($1)$1($1)($298)($0)($0)$0$0$0($0)($0)$0($0)$0$0$0$0$1.6$0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Balance check- 0- 0- 0- 0- 0
xSupporting Schedules ('000)2010.Q12010.Q22010.Q32010.Q42010.Total2011.Q12011.Q22011.Q32011.Q42011.Total2012.Q12012.Q22012.Q32012.Q42012.Total2013.Q12013.Q22013.Q32013.Q42013.Total2014.Q12014.Q22014.Q32014.Q42014.Total2015.Q12015.Q22015.Q32015.Q42015.Total2016.Q12016.Q22016.Q32016.Q42016.Total2017.Q12017.Q22017.Q32017.Q42017.Total2016.Q12016.Q22016.Q32016.Q42016.TotalSupporting Schedules ('000)2015.Q12015.Q22015.Q32015.Q42015.Total
Acct No.Account Name ActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualActualSepfcsts1Sepfcsts1BudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinBudgetfinForecastForecastForecastForecastForecastBudgetBudgetBudgetBudgetBudget
30100Trade Sales Trade Sales147,028191,576182,896187,157708,657186,673206,452204,115213,524810,764201,057213,123191,639208,278814,097204,101195,311188,176189,509777,097180,561195,895173,478184,009733,943171,877181,241174,771193,339721,229215,509210,751198,614200,684825,559215,306217,807200,929201,166835,208- 0- 0- 0- 0- 0Trade Sales183,824196,380186,841205,900772,944
40100Trade Standard COGS Trade Standard COGS123,388154,466152,119153,824583,797154,104164,144162,748179,210660,206180,858193,895175,416189,642739,812186,598177,450176,534178,059718,642168,736179,601156,382160,261664,980152,739167,776171,335196,175688,025185,337181,396169,647171,744708,125182,908184,745169,125169,948706,727- 0- 0- 0- 0- 0Trade Standard COGS161,474172,577165,931184,035684,018
41100Material Price VarianceMaterial Price Variance5,9329,1672,67511,94029,7149,13617,60717,4277,31651,485(2,279)(1,590)(8,149)(3,536)(15,555)(1,395)(7,171)(10,533)(12,640)(31,739)(8,547)(4,698)1,8715,782(5,591)(176)(7,957)(20,443)(30,049)(58,626)3693093354071,41912075114192500- 0- 0- 0- 0- 0Material Price Variance92124131167514
42000MFG-Plant PerformanceMFG-Plant Performance3,983(4,216)(1,508)(1,695)(3,436)5,9123,8745,762(283)15,266(1,040)(2,267)6,8695,9109,473854(1,115)1,167(167)7392,8606116,7562,17912,406(641)(6,828)(7,689)(8,265)(23,424)3,3752,9832,8534,26313,4742,0601,9642,1285,39611,547- 0- 0- 0- 0- 0MFG-Plant Performance4,0487191,858(661)5,964
43100Inventory RevaluationInventory Revaluation746764(638)(557)315(219)(287)(550)(865)(1,921)(210)(232)(353)(1,017)(1,812)(478)49459(492)(418)5883(103)(18)20277(194)(92)- 0(8)113- 0- 0- 01134- 0- 0- 04- 0- 0- 0- 0- 0Inventory Revaluation- 0- 0- 0- 0- 0
43120FIFO Cst RevaluationFIFO Cst Revaluation(4,712)(587)3,681(7,875)(9,492)(1,656)(4,501)2,3295,4421,6141,8929511,259(2,664)1,438(1,580)3,5861,1561,1974,359(2,780)(1,351)(3,877)(549)(8,558)1,0634,2647,8832,48615,69626(46)(60)(62)(142)(100)(19)814912- 0- 0- 0- 0- 0FIFO Cst Revaluation- 0- 0- 0- 0- 0
COGS - Actual129,337159,595156,329155,637600,898167,277180,838187,716190,820726,650179,221190,758175,042188,335733,356183,999173,244168,383165,958691,584160,327174,246161,029167,655663,257153,261157,061150,994160,347621,663189,220184,641172,775176,353722,989184,991186,766171,447175,585718,789- 0- 0- 0- 0- 0COGS - Actual165,614173,421167,920183,541690,496
roll forward (ASP Summary)Aluminum COGS (based on actual COGS)64,47584,08680,36178,169307,09186,905101,543103,220105,003396,67090,545102,83485,61593,259372,25292,32988,03284,50979,979344,85077,73485,72183,44989,341336,24585,47988,52479,65378,279331,93594,136102,42595,78795,453387,801101,663104,06697,60397,648400,980109,979107,30178,33594,870390,486Aluminum COGS (based on actual COGS)94,39399,32496,07699,240389,034
40000Cost of Goods SoldCost of Goods Sold137,568166,670163,994162,032630,263172,657189,187194,483198,786755,112185,349199,337178,906197,255760,847192,923182,756176,201173,624725,504167,754183,234169,100175,136695,224162,507164,022159,170168,768654,466197,123192,213179,562183,722752,621192,972194,459178,340183,156748,927- 0- 0- 0- 0- 0Trade Standard COGS161,474172,577165,931184,035684,018
Adjsuted COGS (excl. Aluminum,Wages,Depr, other)35,31042,12642,12742,293161,85645,19742,41447,82249,645185,07950,06850,40050,95052,498203,91650,67745,98646,99549,553193,21146,62650,67038,43442,807178,53738,77739,40642,88153,500174,56562,58350,12747,06051,107210,87752,37051,53444,67348,867197,444(109,979)(107,301)(78,335)(94,870)(390,486)Trade Standard COGS (excl. Aluminum,Wages,Depr)25,62831,51728,85443,184129,182
42191MFG-Depreciation & Amort Depreciation.MFG7,2396,9536,7936,67827,6636,6796,8176,2635,70425,4636,1425,8486,0046,35824,3536,4436,5076,7456,50726,2026,4386,6899,7828,74831,6577,6998,0208,2348,42832,3809,8079,9269,2529,23638,2218,8348,9098,3528,32734,422- 0- 0- 0- 0- 0Depreciation.MFG- 0- 0- 0- 0- 0
44191CSD-Depreciation & Amort Depreciation.CSD1005945(103)1013545424675893434616919869675653246514949371864340262143235763473920557634739205- 0- 0- 0- 0- 0Depreciation.CSD- 0- 0- 0- 0- 0
61191ADM-Depreciation & Amort Depreciation.ADM128495831(4)1,4503153473864151,4634354404564631,7944634765175442,0005665891,6439143,7127804334094472,0695754855166042,1815754855166042,181- 0- 0- 0- 0- 0Depreciation.ADM- 0- 0- 0- 0- 0
62191SEL-Depreciation & Amort Depreciation.SEL42229377522444518555519677727643315678828678828- 0- 0- 0- 0- 0Depreciation.SEL- 0- 0- 0- 0- 0
Depreciation7,4707,5107,6706,57329,2237,0327,2166,6986,59227,5386,6166,3266,5256,8956,9807,0557,3237,10928,4667,0617,33511,4819,70535,5828,5288,4968,6719,09234,78710,44610,4819,8229,88640,6359,4729,4638,9238,97736,836- 0- 0- 0- 0- 0Depreciation9,2249,6279,94110,27439,066
42110MFG-WagesMFG-Wages15,90219,50820,44621,11176,96720,79121,33222,63223,30288,05723,44524,02424,12526,20997,80324,95623,40221,83521,55791,75020,09221,45120,22718,79980,56915,03314,04114,47314,50958,05516,49516,21615,18615,08962,98715,82915,98815,10515,03361,955- 0- 0- 0- 0- 0MFG-Wages16,29116,42215,97515,98664,674
44110CSD-WagesCSD-Wages1,7351,6992,0041,7387,1751,8461,6791,7371,6576,9201,8041,8201,7801,9487,3521,8492,0472,0731,8997,8691,9341,9761,9591,9237,7922,3871,8311,7332,0818,0311,9832,0001,9571,9227,8611,9832,0001,9571,9227,861- 0- 0- 0- 0- 0CSD-Wages1,9832,0001,9571,9227,861
61110ADM-WagesADM-Wages1,4051,4481,4501,5425,8451,9651,8891,9381,8637,6551,8051,7871,7661,8737,2311,7111,8012,7951,8768,1832,6971,7481,7741,9628,1801,7301,7642,0392,4467,9791,7901,8201,8171,7717,1981,7901,8201,8171,7717,198- 0- 0- 0- 0- 0ADM-Wages1,7901,8201,8171,7717,198
62110SEL-WagesSEL-Wages3373703413681,4153914093794001,5803934113954391,6383794203724761,6464294664374391,7724175623743881,7414014124174061,6364014124174061,636- 0- 0- 0- 0- 0SEL-Wages4014124174061,636
42120MFG-Fringe BenefitsMFG-Fringe Benefits6,4116,9226,6017,38727,3227,7048,7327,7807,16531,3819,0217,6528,34710,01135,0329,5949,3168,3008,36235,5729,4379,7149,1377,96136,2496,9046,7015,4676,38925,4616,2485,9295,4565,43623,0686,3446,2495,6805,67923,952- 0- 0- 0- 0- 0MFG-Fringe Benefits8,3598,1917,7198,04132,310
44120CSD-Fringe BenefitsCSD-Fringe Benefits1,4621,0151,7098044,9901,3627832,4211,2745,8401,5052,0391,4801,2776,3011,9241,9579791,2926,1521,2111,8291,1958235,0581,4541,2091,0961,4885,2481,6421,5581,4861,5496,2351,7421,6591,5871,6506,638- 0- 0- 0- 0- 0CSD-Fringe Benefits1,5971,5151,4421,5056,059
61120ADM-Fringe BenefitsADM-Fringe Benefits1,4832,2321,6501,5306,8951,6311,2701,640614,6021,6501,4611,5147855,4101,6101,7001,6331,6136,5561,5221,9151,6529936,0821,2931,7512,1002,1147,2581,7411,6901,6721,6486,7522,0041,9531,9351,9117,804- 0- 0- 0- 0- 0ADM-Fringe Benefits1,6181,5671,5491,5256,259
62120SEL-Fringe BenefitsSEL-Fringe Benefits1912842383761,0893022181991979152591902191898573692382282231,0592832282521168802662692612761,072202195195192785213206207203829- 0- 0- 0- 0- 0SEL-Fringe Benefits191184184180738
Total Wages & Fringe Benefits131,69935,99136,31238,72635,920146,95039,88239,38539,62642,731161,62442,39140,88038,21537,299158,78537,60539,32736,63433,015146,58129,48528,12827,54229,691114,84530,50229,82028,18628,012116,52130,30630,28828,70628,574117,874- 0- 0- 0- 0- 0Total Wages & Fringe Benefits32,23032,11031,06031,336126,736
3834751,0385582,454(72)101415(33)(67)111313(30)
45000Pre-Production ChargesPre-Production Charges3,9885,1824,3943,60117,1653,4544,3964,1223,93215,9034,1113,9094,0992,99215,1113,9613,6753,0393,60614,2813,9303,6923,0473,70314,372
46000Research & DevelopmentResearch & Development21130(94)54201613811011932810965411123277575757530075757575300
43400Obsolete/Slow Moving ExpObsolete/Slow Moving Exp4267012022341,563524220(24)3951,115127(199)430218576208210205195818211212201202827
71000Interest IncomeInterest Income4132947392031,6493033902572131,1623002163573891,2624354414133891,6793483112332021,0951446674137420175175175175700213213213213850- 0- 0- 0- 0- 0Interest Income154114112137517
72000Interest ExpenseInterest Expense(13)(12)(12)(7)(45)(13)(31)(11)(7)(61)- 0(0)- 0(9)(9)- 0(0)- 01313(0)- 0- 0(0)(0)(59)(8)(130)(50)(247)(50)(50)(50)(50)(200)(50)(50)(50)(50)(200)- 0- 0- 0- 0- 0Interest Expense(50)(50)(50)(50)(200)
79999Inc before Tx & EqtyEarnPre-tax Income6,08116,25412,60122,54657,48311,16713,6465,12411,99041,92610,8648,4389,8825,30534,4896,8759,8727,71812,37736,8428,0598,662(2,740)1,72115,7023,57310,7337,61616,44338,36512,43312,70213,39311,33849,86516,58617,62517,06712,53663,814- 0- 0- 0- 0- 0Pre-tax Income4,7009,0935,8609,59929,251
EBIT5,66815,96011,86222,34355,83410,86413,2564,86711,77740,76410,5658,2229,5254,91633,2276,4409,4307,30511,98835,1637,7118,350(2,973)1,51914,6073,42910,6677,54216,30637,94412,25812,52713,21811,16349,16516,37417,41316,85412,32462,964- 0- 0- 0- 0- 0EBIT4,5458,9795,7479,46228,734
99999Net Income Net Income8,89710,09010,39822,25851,6438,05414,7004,22840,18767,1696,7336,41415,0562,68730,8914,9346,3245,1716,39522,8244,8225,039(2,419)1,3618,8034,3346,5334,94811,51027,3247,7997,9688,4017,14531,31310,47111,13010,7757,90140,276- 0- 0- 0- 0- 0Net Income5,6185,3944,3336,55821,902
Inventory @ STD (excludes MRO)54,17949,58560,29864,14964,14971,90666,62370,44455,28755,28760,86159,56465,30663,64163,64169,50765,65664,88765,05965,05960,26659,62967,65064,37164,37168,88968,08968,78862,03062,03083,56379,79277,60167,52767,52781,80380,72477,07267,31967,319- 0- 0- 0- 0- 0Inventory @ STD (excludes MRO)60,61463,05661,45765,40165,401
Information onlyAccounts receivable roll-forward Accounts receivable roll-forward
Information onlyAccounts receivable, beginning of period (BOP) balance- 0127,142128,529120,74398,467113,818106,582120,00989,623108,190111,443104,081102,493105,366102,442118,955109,379129,846116,867133,974113,197129,732120,483135,432113,4488,8658,8658,865Accounts receivable, beginning of period (BOP) balance87,852110,844111,466111,653
Information only+/- additions6,4234,098(10,067)(21,882)14,779(6,253)13,087(30,687)18,9464,346(7,362)(1,588)2,873(2,924)16,513(9,576)20,467(12,979)17,107(20,777)16,535(9,249)14,949(21,984)(104,583)- 0- 0- 0+/- additions22,992622187(14,583)
Information onlyFx / Other120,719(2,711)2,281(394)572(983)340301(379)(1,093)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0Fx / Other- 0- 0- 0- 0
Information onlyAccounts receivable, end of period (EOP) balance$ 127,142$ 128,529$ 120,743$ 98,467$ 113,818$ 106,582$ 120,009$ 89,623$ 108,190$ 111,443$ 104,081$ 102,493$ 105,366$ 102,442$ 118,955$ 109,379$ 129,846$ 116,867$ 133,974$ 113,197$ 129,732$ 120,483$ 135,432$ 113,448$ 8,865$ 8,865$ 8,865$ 8,865Accounts receivable, end of period (EOP) balance$ 110,844$ 111,466$ 111,653$ 97,070
Information only
Information only+/- adjustments- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0 - 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0+/- adjustments- 0- 0- 0- 0
Information onlyAR as % of sales63.2%60.3%63.0%47.3%55.8%54.6%63.8%47.3%59.9%56.9%60.0%55.7% 61.3%56.5%68.1%56.6%60.3%55.5%67.5%56.4%60.3%55.3%67.4%56.4%ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!AR as % of sales60.3%56.8%59.8%47.1%
Information onlyDays Sales Outstanding (1 Qtr DSO)55.954.659.247.950.749.758.043.054.551.854.650.755.851.461.951.554.850.561.451.354.850.361.351.3ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Days Sales Outstanding (1 Qtr DSO)54.951.754.442.9
Trade accounts receivable roll-forward Trade accounts receivable roll-forward
Trade accounts receivable, beginning of period (BOP) balance- 0123,624125,102115,59991,747108,474101,034114,58582,809101,854104,08897,03596,17797,06093,950110,748101,054121,699109,247125,857104,893121,584112,904127,324105,145- 0- 0- 0Trade accounts receivable, beginning of period (BOP) balance80,705103,695104,345104,510
+/- additions123,6241,478(9,503)(23,852)16,727(7,440)13,551(31,776)19,0452,234(7,052)(859)883(3,111)16,798(9,694)20,646(12,453)16,610(20,964)16,692(8,680)14,420(22,179)(105,145)- 0- 0- 0+/- additions22,990651165(14,539)
roll forwardTrade accounts receivable, end of period (EOP) balance$ 123,624$ 125,102$ 115,599$ 91,747$ 108,474$ 101,034$ 114,585$ 82,809$ 101,854$ 104,088$ 97,035$ 96,177$ 97,060$ 93,950$ 110,748$ 101,054$ 121,699$ 109,247$ 125,857$ 104,893$ 121,584$ 112,904$ 127,324$ 105,145- 0- 0- 0- 0Trade accounts receivable, end of period (EOP) balance$ 103,695$ 104,345$ 104,510$ 89,971
roll forwardTrade AR as % of sales61.5%58.7%60.3%44.1%53.1%51.7%60.9%43.7% 56.4%53.1%55.9%52.3%56.5%51.8%63.4%52.3%56.5%51.8%63.4%52.3%56.5%51.8%63.4%52.3%56.4%53.1%51.9%56.3%Trade AR as % of sales56.4%53.1%55.9%43.7%
Days Sales Outstanding (DSO)57.452.863.856.658.452.551.254.050.052.454.053.157.145.351.044.648.852.147.447.646.547.852.847.849.551.248.053.349.850.847.049.953.952.350.947.949.054.452.650.9ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Days Sales Outstanding (DSO)51.348.450.939.8
Bad Debt Reserves as % of Trade AR(0.4%)(0.6%)(0.4%)(0.6%)(0.8%)(0.6%)(0.8%)(1.1%)(1.0%)(0.4%)(0.5%)(0.5%)(0.6%)(1.1%)(0.6%)(0.5%)(0.6%)(1.1%)(0.6%)(0.5%)(0.6%)(1.1%)(0.6%)(0.5%)ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Bad Debt Reserves as % of Trade AR(0.4%)(0.4%)(0.4%)(0.5%)
Sensitivity $2,291$2,356$2,023$2,025 $2,430$2,070$2,198$1,747 $2,189$2,176$1,840$2,013$1,897$1,959$2,078$2,027$2,588$2,191$2,337$2,005$2,540$2,305$2,341$2,000ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!ERROR:#DIV/0!Sensitivity$2,020$2,158$2,053$2,263
Other accounts receivable roll-forward Other accounts receivable roll-forward
Other accounts receivable, beginning of period (BOP) balance- 03,9544,1255,6197,2936,2646,1826,3977,7247,3157,8077,5746,8308,8799,5638,8658,8658,8658