Nucor 2011 Annual Report Download - page 40

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39
(dollar and share amounts in thousands, except per share data)
2011 2010 2009 2008 2007
FOR THE YEAR
Net sales $20,023,564 $15,844,627 $11,190,296 $23,663,324 $16,592,976
Costs, expenses and other:
Cost of products sold 18,074,967 15,000,962 11,035,903 19,612,283 13,462,927
Marketing, administrative and other expenses 520,648 391,375 351,278 714,064 553,146
Equity in losses of unconsolidated affiliates 10,043 32,082 82,341 36,920 24,618
Impairment of non-current assets — — — 105,183 —
Interest expense, net 166,094 153,093 134,752 90,483 5,469
18,771,752 15,577,512 11,604,274 20,558,933 14,046,160
Earnings (loss) before income taxes
and noncontrolling interests 1,251,812 267,115 (413,978) 3,104,391 2,546,816
Provision for (benefit from) income taxes 390,828 60,792 (176,800) 959,480 781,368
Net earnings (loss) 860,984 206,323 (237,178) 2,144,911 1,765,448
Earnings attributable to noncontrolling interests 82,796 72,231 56,435 313,921 293,501
Net earnings (loss) attributable to Nucor stockholders 778,188 134,092 (293,613) 1,830,990 1,471,947
Net earnings (loss) per share:
Basic 2.45 0.42 (0.94) 5.99 4.96
Diluted 2.45 0.42 (0.94) 5.98 4.94
Dividends declared per share 1.4525 1.4425 1.41 1.91 2.44
Percentage of net earnings (loss) to net sales 3.9% 0.8% -2.6% 7.7% 8.9%
Return on average stockholders’ equity 10.7% 1.8% -3.8% 28.1% 29.5%
Capital expenditures 450,627 345,294 390,500 1,018,980 520,353
Acquisitions (net of cash acquired) 3,959 64,788 32,720 1,826,030 1,542,666
Depreciation 522,571 512,147 494,035 479,484 403,172
Sales per employee 974 777 539 1,155 1,085
AT YEAR END
Current assets $ 6,708,081 $ 5,861,175 $ 5,182,248 $ 6,397,486 $ 5,073,249
Current liabilities 2,396,059 1,504,438 1,227,057 1,854,192 1,582,036
Working capital 4,312,022 4,356,737 3,955,191 4,543,294 3,491,213
Cash provided by operating activities 1,032,612 873,404 1,173,194 2,502,063 1,935,306
Current ratio 2.8 3.9 4.2 3.5 3.2
Property, plant and equipment, net 3,755,604 3,852,118 4,013,836 4,131,861 3,232,998
Total assets 14,570,350 13,921,910 12,571,904 13,874,443 9,826,122
Long-term debt (including current maturities) 4,280,200 4,280,200 3,086,200 3,266,600 2,250,300
Percentage of debt to capital(1) 35.7% 36.9% 28.9% 28.3% 29.4%
Total Nucor stockholders’ equity 7,474,885 7,120,070 7,390,526 7,929,204 5,112,917
Per share 23.60 22.55 23.47 25.25 17.75
Shares outstanding 316,749 315,791 314,856 313,977 287,993
Employees 20,800 20,500 20,400 21,700 18,000
(1) Long-term debt divided by total equity plus long-term debt.
FIVE-YEAR FINANCIAL REVIEW