filings.toolsItem 6. Selected Financial Data.
6K characters. Original on sec.gov · Markdown
Item 6. Selected Financial Data.
The separation of Alcoa Inc. into two standalone, publicly-traded companies, Arconic Inc. (the new name for Alcoa Inc.) and Alcoa Corporation, became effective on November 1, 2016 (the “Separation Transaction”). The financial results of Alcoa Corporation for all periods prior to the Separation Transaction have been retrospectively reflected in the Statement of Consolidated Operations as discontinued operations and, as such, have been excluded from continuing operations and segment results for 2016 and all prior periods presented prior to the Separation Transaction. The cash flows related to Alcoa Corporation have not been segregated and are included in the Statement of Consolidated Cash Flows for 2016 and all prior periods presented.
(dollars in millions, except per-share amounts)
| For the year ended December 31, | 2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||
| Sales | $ | 14,014 | $ | 12,960 | $ | 12,394 | $ | 12,413 | $ | 12,542 | |||||||||
| Amounts attributable to Arconic: | |||||||||||||||||||
| Income (loss) from continuing operations(1) | $ | 642 | $ | (74 | ) | $ | (1,062 | ) | $ | (157 | ) | $ | (61 | ) | |||||
| Income (loss) from discontinued operations(2) | — | — | 121 | (165 | ) | 329 | |||||||||||||
| Net income (loss) | $ | 642 | $ | (74 | ) | $ | (941 | ) | $ | (322 | ) | $ | 268 | ||||||
| Earnings (loss) per share attributable to Arconic common shareholders:(3) | |||||||||||||||||||
| Basic: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 1.33 | $ | (0.28 | ) | $ | (2.58 | ) | $ | (0.54 | ) | $ | (0.21 | ) | |||||
| Income (loss) from discontinued operations | — | — | 0.27 | (0.39 | ) | 0.85 | |||||||||||||
| Net income (loss) | $ | 1.33 | $ | (0.28 | ) | $ | (2.31 | ) | $ | (0.93 | ) | $ | 0.64 | ||||||
| Diluted: | |||||||||||||||||||
| Income (loss) from continuing operations | $ | 1.30 | $ | (0.28 | ) | $ | (2.58 | ) | $ | (0.54 | ) | $ | (0.21 | ) | |||||
| Income (loss) from discontinued operations | — | — | 0.27 | (0.39 | ) | 0.84 | |||||||||||||
| Net income (loss) | $ | 1.30 | $ | (0.28 | ) | $ | (2.31 | ) | $ | (0.93 | ) | $ | 0.63 | ||||||
| Cash dividends declared per common share(1) | $ | 0.24 | $ | 0.24 | $ | 0.36 | $ | 0.36 | $ | 0.36 | |||||||||
| Total assets | 18,693 | 18,718 | 20,038 | 36,477 | 37,298 | ||||||||||||||
| Total debt | 6,330 | 6,844 | 8,084 | 8,827 | 8,445 | ||||||||||||||
| Cash provided from (used for) operations(4) | 217 | (39 | ) | 95 | 764 | 1,674 | |||||||||||||
| Capital expenditures: | |||||||||||||||||||
| Capital expenditures—continuing operations | 768 | 596 | 827 | 789 | 775 | ||||||||||||||
| Capital expenditures—discontinued operations | — | — | 298 | 391 | 444 | ||||||||||||||
| Total capital expenditures | $ | 768 | $ | 596 | $ | 1,125 | $ | 1,180 | $ | 1,219 |
| (1) | Calculated from the accompanying Statement of Consolidated Operations as Income (loss) from continuing operations after income taxes less Net income from continuing operations attributable to noncontrolling interests. |
| (2) | Calculated from the accompanying Statement of Consolidated Operations as Income from discontinued operations after income taxes less Net income from discontinued operations attributable to noncontrolling interests. |
| (3) | Per share data has been retroactively restated to reflect the 1-for-3 reverse stock split which became effective on October 6, 2016 (see Note I to the Consolidated Financial Statements in Part II, Item 8. (Financial Statements and Supplementary Data) of this Form 10-K). |
| (4) | Cash provided from (used for) operations has not been restated for discontinued operations presentation for 2016 and all prior periods presented (see Basis of Presentation section of Note A to the Consolidated Financial Statements in Part II, Item 8. (Financial Statements and Supplementary Data) of this Form 10-K). Cash provided from (used for) operations in 2014 has not been recast for the impact of the new accounting pronouncements that were adopted in the first quarter of 2018 (see Recently Adopted Accounting Guidance section of Note A to the Consolidated Financial Statements in Part II, Item 8. (Financial Statements and Supplementary Data) 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 Consolidated Financial Statements and Notes in Part II, Item 8. (Financial Statements and Supplementary Data) of this Form 10-K.
Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.