Alcoa 2009 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2009 Alcoa annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 178

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178

Item 6. Selected Financial Data
(dollars in millions, except per-share amounts and ingot prices; shipments in thousands of metric tons [kmt])
For the year ended December 31, 2009 2008 2007 2006 2005
Sales $18,439 $26,901 $29,280 $28,950 $24,149
Amounts attributable to Alcoa common shareholders:
(Loss) income from continuing operations $ (985) $ 229 $ 2,814 $ 2,226 $ 1,285
(Loss) income from discontinued operations (166) (303) (250) 22 (50)
Cumulative effect of accounting changes ----(2)
Net (loss) income $ (1,151) $ (74) $ 2,564 $ 2,248 $ 1,233
Earnings per share attributable to Alcoa common shareholders*:
Basic:
(Loss) income from continuing operations $ (1.06) $ 0.27 $ 3.24 $ 2.56 $ 1.47
(Loss) income from discontinued operations (0.17) (0.37) (0.29) 0.03 (0.06)
Cumulative effect of accounting changes -----
Net (loss) income $ (1.23) $ (0.10) $ 2.95 $ 2.59 $ 1.41
Diluted:
(Loss) income from continuing operations $ (1.06) $ 0.27 $ 3.22 $ 2.54 $ 1.46
(Loss) income from discontinued operations (0.17) (0.37) (0.28) 0.03 (0.06)
Cumulative effect of accounting changes -----
Net (loss) income $ (1.23) $ (0.10) $ 2.94 $ 2.57 $ 1.40
Shipments of alumina (kmt) 8,655 8,041 7,834 8,420 7,857
Shipments of aluminum products (kmt) 5,097 5,481 5,393 5,545 5,459
Alcoa’s average realized price per metric ton of aluminum $ 1,856 $ 2,714 $ 2,784 $ 2,665 $ 2,044
Cash dividends declared per common share $ 0.26 $ 0.68 $ 0.68 $ 0.60 $ 0.60
Total assets 38,472 37,822 38,803 37,149 33,489
Short-term borrowings 176 478 563 460 273
Commercial paper - 1,535 856 1,472 912
Long-term debt, including amounts due within one year 9,643 8,565 6,573 5,287 5,334
*In 2009, Alcoa adopted changes issued by the FASB to the calculation of earnings per share (see Note S to the Consolidated
Financial Statements in Part II Item 8). As a result, earnings per share amounts for 2008 and 2007 were revised to reflect
these changes (consistent with the periods presented in the Statement of Consolidated Operations included in Part II Item 8
of this Form 10-K).
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 Operations in Part II Item 7 and the
Notes to the Consolidated Financial Statements in Part II Item 8.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
(dollars in millions, except per-share amounts and ingot prices; production and shipments in thousands of
metric tons [kmt])
Overview
Our Business
Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum, and alumina
combined, through its active and growing participation in all major aspects of the industry: technology, mining,
refining, smelting, fabricating, and recycling. Aluminum is a commodity that is traded on the London Metal Exchange
43