Whirlpool 2005 Annual Report Download - page 38

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34 Whirlpool Corporation
Eleven-Year Consolidated Statistical Review
(Millions of dollars except share and employee data) 2005 2004 2003 2002
Consolidated Operations
Net sales $ 14,317 $ 13,220 $ 12,176 $ 11,016
Operating profit (1) 792 758 830 692
Earnings (loss) from continuing operations
before income taxes and other items 597 616 652 495
Earnings (loss) from continuing operations 422 406 414 262
Earnings (loss) from discontinued operations (2) – – – (43)
Net earnings (loss) (3) 422 406 414 (394)
Net capital expenditures 494 511 423 430
Depreciation 441 443 423 391
Dividends 116 116 94 91
Consolidated Financial Position
Current assets 4,710 4,514 3,865 3,327
Current liabilities 4,301 3,985 3,589 3,505
Working capital 409 529 276 (178)
Property, plant and equipment-net 2,511 2,583 2,456 2,338
Total assets 8,248 8,181 7,361 6,631
Long-term debt 745 1,160 1,134 1,092
Stockholders’ equity 1,745 1,606 1,301 739
Per Share Data
Basic earnings (loss) from continuing operations before accounting change 6.30 6.02 6.03 3.86
Diluted earnings (loss) from continuing operations before accounting change 6.19 5.90 5.91 3.78
Diluted net earnings (loss) (3) 6.19 5.90 5.91 (5.68)
Dividends 1.72 1.72 1.36 1.36
Book value 25.54 23.31 18.56 10.67
Closing Stock Price - NYSE 83.76 69.21 72.65 52.22
Key Ratios (4)
Operating profit margin 5.5% 5.7% 6.8% 6.3%
Pre-tax margin (5) 4.2% 4.7% 5.4% 4.5%
Net margin (6) 2.9% 3.1% 3.4% 2.4%
Return on average stockholders’ equity (7) 24.6% 30.3% 42.9% (26.5)%
Return on average total assets (8) 5.1% 5.2% 5.9% (5.8)%
Current assets to current liabilities 1.1 x 1.1 x 1.1 x 0.9 x
Total debt-appliance business as a percent of invested capital (9) 40.4% 45.7% 50.9% 65.1%
Price earnings ratio 13.5 x 11.7 x 12.3 x (9.2) x
Interest coverage (10) 5.6 x 5.8 x 5.7 x (0.4) x
Other Data
Number of common shares outstanding (in thousands):
Average – on a diluted basis 68,272 68,902 70,082 69,267
Year-end 67,880 66,604 68,931 68,226
Number of stockholders (year-end) 7,442 7,826 8,178 8,556
Number of employees (year-end) 65,682 68,125 68,407 68,272
Total return to shareholders (five year annualized) (11) 14.5% 3.7% 8.1% 1.4%
(1) Restructuring charges were $57 million in 2005, $15 million in 2004, $3 million in 2003, $101 million in 2002,
$150 million in 2001, $343 million in 1997, and $30 million in 1996.
(2) The Company’s financial services business was discontinued in 1997.
(3) Includes cumulative effect of accounting changes: 2002 – Accounting for goodwill under SFAS No. 141 and 142 and
impairments of $(613) million or $(8.84) per diluted share; 2001 – Accounting for derivative instruments and hedging
activities of $8 million or $0.12 per diluted share.