Alcoa 1997 Annual Report Download - page 3

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1
Contents
Letter to Shareholders 2
News/97 5
Financials 27
Worldwide Operations 52
Business Units 55
Trends in Major Markets 56
Officers 58
Directors 59
Shareholder Information 60
Glossary 62
Index 63
Financial and Operating Highlights
(dollars in millions, except share amounts)
1997 1996 % change
Sales $13,319.2 $13,061.0 2
Income from operations* 1,073.0 721.0 49
Net income* 805.1 514.9 56
Per common share:
Basic earnings 4.66 2.94 59
Diluted earnings 4.62 2.91 59
Dividends paid .975 1.33 (27)
Book value 25.93 25.54 2
Total assets 13,070.6 13,449.9 (3)
Capital expenditures 912.4 995.7 (8)
Cash flow from operations 1,887.6 1,278.9 48
Return on average shareholders’ equity† 18.1% 11.6% 56
Debt as a percent of invested capital 20% 22% (9)
Interest coverage ratio 9.4 8.6 9
Current assets / liabilities ratio 1.8 to 1 1.8 to 1 –
Shipments of aluminum products (000 metric tons) 2,956 2,841 4
Number of shareholders 95,800 88,300 9
Average common shares outstanding (000) 172,226 174,334 (1)
Number of employees 81,600 76,800 6
* Includes net gains of $43.9, or 25 cents per basic share, in 1997 and net charges of
$122.3, or 70 cents per basic share, in 1996
† Without the above, the return on equity was 17.1% in 1997 and 14.4% in 1996.
■ Packaging
■Transportation
■ Distribution and Other
■ Alumina and Chemicals
■ Aluminum Ingot
■ Building and Construction
Market Trends covered on page 56
■ U.S.
■ Europe
■ Other Americas
■ Pacific
1997 Revenues: $13.3 Billion
By Geographic Area
By Market
10%
24%
16%
11%
15%
24%
13%
54%
17%
16%