CNH FY 2010 Earnings Report — CNH Industrial N.V. Revenue & Financial Results | Market Cap Arena

CNH Industrial N.V.CNH

FY 2010 Earnings

Reported December 30, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$15.6B	—	$13.8B	—	13.4%
Op. Income	$1.4B	—	$1.0B	—	42.8%
Gross Margin	23.0%	—	21.1%	—	2.0pp
Net Margin	2.9%	—	-1.4%	—	4.3pp
EPS (Diluted)	$0.49	—	$-0.21	—	333.3%
Free Cash Flow	$736M	—	$1.7B	—	-56.5%

Revenue Flow

Item	Amount
REVENUE	$15.6B
Cost of Revenue	$12.0B
GROSS PROFIT	$3.6B
R&D Expenses	$451M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$14.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$830M
Other Income/Expenses	-$933M
INCOME BEFORE TAX	$515M
Income Tax Expense	$77M
Net Income from Continuing Ops	$438M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$452M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$452M
D&A	$415M
EBIT	$1.4B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$15.6B
Cost of Revenue	$12.0B
GROSS PROFIT	$3.6B
R&D Expenses	$451M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$14.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$830M
Other Income/Expenses	-$933M
INCOME BEFORE TAX	$515M
Income Tax Expense	$77M
Net Income from Continuing Ops	$438M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$452M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$452M
D&A	$415M
EBIT	$1.4B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$452M
Depreciation & Amortization	$415M
Stock-Based Compensation	$0
Deferred Income Tax	-$28M
Other Non-Cash Items	-$65M
Change in Working Capital	$628M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$666M
Acquisitions (Net)	$276M
Purchases of Investments	$0
Sales/Maturities of Investments	$462M
Other Investing Activities	-$118M
NET CASH FROM INVESTING	-$46M
Net Debt Issuance	$945M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	$946M
FREE CASH FLOW	$736M
Net Change in Cash	$3.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.5B
Short-Term Investments	$1.8B
Net Receivables	$8.6B
Inventory	$2.9B
Other Current Assets	$1.5B
TOTAL CURRENT ASSETS	$19.3B
PP&E (Net)	$2.4B
Goodwill	$2.4B
Intangible Assets	$679M
Long-Term Investments	$5.9B
Tax Assets	$536M
Other Non-Current Assets	-$157M
TOTAL NON-CURRENT ASSETS	$11.7B
TOTAL ASSETS	$31.1B
Account Payables	$2.4B
Short-Term Debt	$7.8B
Deferred Revenue	$0
Other Current Liabilities	$2.2B
TOTAL CURRENT LIABILITIES	$13.5B
Long-Term Debt	$8.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$107M
Other Non-Current Liabilities	$1.6B
TOTAL NON-CURRENT LIABILITIES	$10.2B
TOTAL LIABILITIES	$23.7B
Common Stock	$599M
Additional Paid-In Capital	$6.2B
Retained Earnings	$658M
Treasury Stock	-$8M
Accum. Other Comp. Income	$476M
Other Equity	-$618M
TOTAL STOCKHOLDERS' EQUITY	$7.3B
Minority Interest	$75M
TOTAL EQUITY	$7.4B
TOTAL LIABILITIES & EQUITY	$31.1B
Total Debt	$16.3B
Net Debt	$11.8B