Alcoa 2015 Annual Report Download - page 213

11-Year Summary of Financial and Other Data (unaudited)
(dollars in millions, except ingot prices and per-share amounts)
For the year ended December 31, 2015 2014 2013
Operating Results
Sales $ 22,534 $ 23,906 $ 23,032
Cost of goods sold (exclusive of expenses below) 18,069 19,137 19,286
Selling, general administrative, and other expenses 979 995 1,008
Research and development expenses 238 218 192
Provision for depreciation, depletion, and amortization 1,280 1,371 1,421
Impairment of goodwill 25 - 1,731
Restructuring and other charges 1,195 1,168 782
Interest expense 498 473 453
Other (expenses) income, net (2) (47) 25
Provision (benefit) for income taxes 445 320 428
(Loss) income from discontinued operations - - -
Cumulative effect of accounting changes(1) ---
Net income (loss) attributable to noncontrolling interests 125 (91) 41
Net (loss) income attributable to Alcoa (322) 268 (2,285)
(Loss) income from continuing operations attributable to Alcoa (322) 268 (2,285)
Ingot Prices
Alcoa’s average realized price per metric ton of aluminum $ 2,069 $ 2,405 $ 2,243
LME average cash price per metric ton of aluminum 1,663 1,866 1,846
LME average three-month price per metric ton of aluminum 1,682 1,893 1,888
Operating Data (thousands of metric tons)
Alumina shipments 10,755 10,652 9,966
Aluminum product shipments:
Primary(2) 2,471 2,526 2,782
Fabricated and finished products 2,066 2,268 2,212
Total 4,537 4,794 4,994
Primary aluminum capacity:
Consolidated 3,401 3,497 4,037
Nameplate(3) 4,031 4,127 4,780
Primary aluminum production:
Consolidated 2,811 3,125 3,550
Nameplate(3) 3,259 3,683 4,095
Financial Position
Cash and cash equivalents $ 1,919 $ 1,877 $ 1,437
Properties, plants, and equipment, net 14,815 16,426 17,639
Total assets(4) 36,528 37,363 35,696
Total debt 9,103 8,852 8,319
Noncontrolling interests 2,085 2,488 2,929
Total shareholders’ equity 12,046 12,306 10,593
Cash Flows
Cash provided from operations $ 1,582 $ 1,674 $ 1,578
Capital expenditures(5) 1,180 1,219 1,193
Common Share Data
Common stock outstanding — end of year (thousands)(6) 1,310,160 1,216,664 1,071,011
Basic earnings per share(7) $ (0.31) $ 0.21 $ (2.14)
Diluted earnings per share(7) (0.31) 0.21 (2.14)
Dividends declared per share 0.12 0.12 0.12
Book value per share(8) 8.23 9.07 9.84
Price range: High 17.10 17.75 10.77
Low 7.81 9.82 7.63
Other Data
Number of employees 60,000 59,000 60,000
(1) Reflects the cumulative effect of the accounting change for conditional asset retirement obligations in 2005.
(2) Primary aluminum product shipments are not synonymous with aluminum shipments of the Primary Metals segment, as a
portion of this segment’s aluminum shipments relate to fabricated products.
(3) Nameplate capacity or production is equivalent to the sum of Consolidated capacity or production, the joint venture partner’s
share of capacity or production from certain smelters majority-owned by Alcoa, and Alcoa’s share of capacity or production of
50-percent or less owned smelters.
(4) In 2015, Alcoa adopted changes issued by the Financial Accounting Standards Board to the balance sheet classification of
deferred income taxes (see Recently Adopted Accounting Guidance in Note A to the Consolidated Financial Statements in
Part II Item 8 of Alcoa’s 2015 Form 10-K). For comparative purposes, management elected to retrospectively apply these
changes to years 2011 through 2014 (consistent with the periods presented in Selected Financial Data in Part II Item 6 of
Alcoa’s 2015 Form 10-K). As a result, Total assets for 2011 through 2014 were updated to reflect these changes; however, as a
practical matter, Total assets prior to 2011 were not updated to reflect these changes.