CNH FY 2008 Earnings Report — CNH Industrial N.V. Revenue & Financial Results | Market Cap Arena

CNH Industrial N.V.CNH

FY 2008 Earnings

Reported December 30, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$18.5B	—	$16.0B	—	15.7%
Op. Income	$2.3B	—	$2.0B	—	17.2%
Gross Margin	23.9%	—	23.9%	—	0.1pp
Net Margin	4.5%	—	3.5%	—	1.0pp
EPS (Diluted)	$0.91	—	$0.62	—	46.8%
Free Cash Flow	-$161M	—	-$810M	—	80.1%

Revenue Flow

Item	Amount
REVENUE	$18.5B
Cost of Revenue	$14.1B
GROSS PROFIT	$4.4B
R&D Expenses	$422M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$16.2B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$765M
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$385M
Net Income from Continuing Ops	$824M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$825M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$825M
D&A	$374M
EBIT	$2.3B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$18.5B
Cost of Revenue	$14.1B
GROSS PROFIT	$4.4B
R&D Expenses	$422M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$16.2B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$765M
Other Income/Expenses	-$1.1B
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$385M
Net Income from Continuing Ops	$824M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$825M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$825M
D&A	$374M
EBIT	$2.3B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$825M
Depreciation & Amortization	$374M
Stock-Based Compensation	$0
Deferred Income Tax	$86M
Other Non-Cash Items	$9M
Change in Working Capital	-$644M
OPERATING CASH FLOW	$650M
Capital Expenditure	-$811M
Acquisitions (Net)	$53M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$3.0B
NET CASH FROM INVESTING	-$3.8B
Net Debt Issuance	$3.0B
Common Stock Repurchased	$0
Common Dividends Paid	-$118M
Other Financing Activities	$4M
NET CASH FROM FINANCING	$2.8B
FREE CASH FLOW	-$161M
Net Change in Cash	-$392M

Balance Sheet

Item	Amount
Cash & Equivalents	$633M
Short-Term Investments	$2.1B
Net Receivables	$6.6B
Inventory	$4.5B
Other Current Assets	$396M
TOTAL CURRENT ASSETS	$14.6B
PP&E (Net)	$2.2B
Goodwill	$2.3B
Intangible Assets	$758M
Long-Term Investments	$4.5B
Tax Assets	$583M
Other Non-Current Assets	-$161M
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$24.9B
Account Payables	$2.7B
Short-Term Debt	$6.0B
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$11.1B
Long-Term Debt	$5.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$7.2B
TOTAL LIABILITIES	$18.3B
Common Stock	$595M
Additional Paid-In Capital	$6.2B
Retained Earnings	$396M
Treasury Stock	-$8M
Accum. Other Comp. Income	-$97M
Other Equity	-$604M
TOTAL STOCKHOLDERS' EQUITY	$6.5B
Minority Interest	$121M
TOTAL EQUITY	$6.6B
TOTAL LIABILITIES & EQUITY	$24.9B
Total Debt	$11.4B
Net Debt	$10.7B