Alcoa 2003 Annual Report Download - page 26

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Revenues by Market
billions of dollars
99
16.3
1.2
0.9
2.2
1.9
2.8
4.1
3.2
1.1
1.4
2.6
2.4
5.0
5.8
4.5
2.5
2.7
2.0
0.8
4.9
5.4
4.3 2.7
3.0
5.0
5.0
0.9
1.5
2.3
1.1
2.0
2.2
2.8
2.8
5.2
5.4
00
22.8
01
22.6
02
20.4
03
21.5
Building and Construction
Packaging and Consumer
Aerospace
Aluminum and Alumina
Commercial Transportation
Industrial Products and Other
Automotive
Net Income and LME Average Price
99
1,054
00
1,484
01
908
02
420
03
938
LME
Net Income
0.63
0.71
0.66
0.62 0.65
24
Selected Financial Data
(in millions, except per-share amounts and ingot prices)
2003 2002 2001 2000 1999
Sales $21,504 $20,351 $22,576 $22,755 $16,268
Income from continuing operations 1,034 476 904 1,474 1,050
(Loss) income from discontinued operations (49) (90) 4 15 4
Cumulative effect of accounting change (47) 34 — (5) —
Net income 938 420 908 1,484 1,054
Earnings (loss) per share:
Basic:
Income from continuing operations 1.21 .56 1.05 1.80 1.43
(Loss) income from discontinued operations (.06) (.11) .01 .02 .01
Cumulative effect of accounting change (.06) .04 — (.01) —
Net income 1.09 .49 1.06 1.81 1.44
Diluted:
Income from continuing operations 1.20 .56 1.04 1.78 1.40
(Loss) income from discontinued operations (.06) (.11) .01 .02 .01
Cumulative effect of accounting change (.06) .04 — (.01) —
Net income 1.08 .49 1.05 1.79 1.41
Alcoa’s average realized price per pound for
aluminum ingot .70 .66 .72 .77 .67
LME
average 3-month price per pound for
aluminum ingot .65 .62 .66 .71 .63
Cash dividends paidpercommon share .600 .600 .600 .500 .403
To t a l a ssets 31,711 29,810 28,355 31,691 17,066
Short-term borrowings 56 39 166 2,718 339
Long-term debt 7,215 8,449 6,484 5,407 2,718
Thefinancial information for all prior periods has been reclassified to reflect assets held for sale and discontinued operations. See Note B to the
Consolidated Financial Statements for further information.
Significantitems impactingthe results for 2003 included: acquisitions of businesses, special items, various gains/losses recorded in other income,
changesinthe provisionfor income taxes, discontinued operations, and the adoption of a new accounting standard. Significant items impacting
theresults for2002included: special items, the adoption of new accounting standards, goodwill impairment, and discontinued operations.
Significantitems impactingthe results for 2001 included: special items, gains on asset sales, and various charges to cost of goods sold and selling,
general administrative, and other expenses. Significant items impacting the results for 2000 included primarily the acquisitions of Reynolds Metals
Company (Reynolds) and Cordant Technologies Inc. (Cordant).
The data presented in the Selected Financial Data table should be read in conjunction with the information provided in Management’s Discussion
and Analysis of Financial Condition and Results of OperationsandtheNotes to the Consolidated Financial Statements.