OSG is simultaneously investing in and expanding our global platform where scale and diversification bring long-term benefits to shareholders
 
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Period Ended12/31/201212/31/201112/31/201012/31/200912/31/2008
 UpdateRestatedRestatedUpdateUpdate
 2/19/201411/14/201311/14/20133/19/20129/29/2011
In millions of USD
(except for per share items)
Net Sales1,137.131,049.531,045.611,093.621,704.70
Revenue1,137.131,049.531,045.611,093.621,704.70
Total Revenue1,137.131,049.531,045.611,093.621,704.70
Cost of Revenue951.72930.88827.25821.18903.67
Cost of Revenue, Total951.72930.88827.25821.18903.67
Gross Profit185.42118.65218.36272.44801.02
Selling / General / Administrative Expense88.8583.24100.42121.11144.06
Selling / General / Administrative Expenses, Total88.8583.24100.42121.11144.06
Depreciation201.28179.72170.67172.40189.16
Depreciation / Amortization201.28179.72170.67172.40189.16
Investment Income - Operating-33.49-20.61-3.59-.77-12.29
Interest / Investment Income - Operating-33.49-20.61-3.59-.77-12.29
Interest Expense (Income), Net-Operating, Total-33.49-20.61-3.59-.77-12.29
Restructuring Charge41.11.00.00----
Impairment-Assets Held for Use------.0062.87
Loss(Gain) on Sale of Assets - Operating271.36-2.0628.62-127.4959.74
Other Unusual Expense (Income)3.16.38-2.0629.286.93
Unusual Expense (Income)315.64-1.6926.56-98.21129.55
Other Operating Expense--------.00
Other Operating Expenses, Total--------.00
Total Operating Expense1,523.991,171.541,121.311,015.721,354.15
Operating Income-386.86-122.01-75.7077.90350.54
Interest Expense - Non-Operating-94.48-86.67-77.38-55.88-81.25
Interest Capitalized - Non-Operating1.066.7710.3310.7623.80
Interest Expense, Net Non-Operating-93.42-79.90-67.04-45.13-57.45
Interest Income - Non-Operating.43.921.293.0913.09
Investment Income - Non-Operating-1.751.37-.45-1.58-35.06
Interest / Investment Income, Non-Operating-1.322.29.851.51-21.97
Interest Income (Expense), Net-Non-Operating, Total-94.74-77.61-66.20-43.62-79.42
Other Non-Operating Income (Expense).01.24.20.16.06
Other, Net.01.24.20.16.06
Net Income Before Taxes-481.60-199.38-141.7034.45271.18
Provision for Income Taxes-1.481.99-19.16-36.70-34.00
Net Income After Taxes-480.11-201.36-122.5471.15305.19
Minority Interest-------.9812.48
Net Income Before Extraordinary Items-480.11-201.36-122.5470.17317.67
Net Income-480.11-201.36-122.5470.17317.67
Income Available to Common Excluding Extraordinary Items-480.11-201.36-122.5470.17317.67
Income Available to Common Stocks Including Extraordinary Items-480.11-201.36-122.5470.17317.67
Basic Weighted Average Shares30.3430.2329.5026.8629.65
Basic EPS Excluding Extraordinary Items-15.82-6.66-4.152.6110.71
Basic EPS Including Extraordinary Items-15.82-6.66-4.152.6110.71
Dilution Adjustment.00.00.00----
Diluted Net Income-480.11-201.36-122.5470.17317.67
Diluted Weighted Average Shares30.3430.2329.5026.8729.81
Diluted EPS Excluding Extraordinary Items-15.82-6.66-4.152.6110.65
Diluted EPS Including Extraordinary Items-15.82-6.66-4.152.6110.65
DPS - Common Stock Primary Issue.001.531.751.751.50
Gross Dividends - Common Stock.0046.8851.8847.1344.86
Stock-Based Compensation, Supplemental6.126.967.708.777.62
Interest Expense, Supplemental93.4279.9067.0445.1357.45
Interest Capitalized, Supplemental-1.06-6.77-10.33-10.76-23.80
Depreciation, Supplemental201.28179.72170.67164.91189.16
Total Special Items315.64-1.6926.56-98.21129.55
Normalized Income Before Taxes-165.96-201.06-115.14-63.76400.73
Effect of Special Items on Income Taxes110.47-.599.30-34.3745.34
Income Taxes Excluding Impact of Special Items108.991.40-9.86-71.0711.34
Normalized Income After Taxes-274.95-202.46-105.287.31389.39
Normalized Income Available to Common-274.95-202.46-105.286.33401.87
Basic Normalized EPS-9.06-6.70-3.57.2413.55
Diluted Normalized EPS-9.06-6.70-3.57.2413.48
Amortization of Intangibles, Supplemental5.185.186.347.50--
Rental Expense, Supplemental4.554.615.01401.97435.34
Equity in Affiliates, Supplemental33.4920.563.59.7712.29
Minority Interest, Supplemental-------.9812.48
Audit Fees------.272.00
Audit-Related Fees------.06.02
Tax Fees------.04.05
All Other Fees------.00.00
Gross Margin16.3111.3120.8824.9146.99
Operating Margin-34.02-11.63-7.247.1220.56
Pretax Margin-42.35-19.00-13.553.1515.91
Effective Tax Rate-------106.52-12.54
Net Profit Margin-42.22-19.19-11.726.4218.63
Normalized EBIT-104.71-144.31-52.73-21.08467.80
Normalized EBITDA101.7640.60124.28151.33656.96
Current Tax - Total28.2731.62-2.04-40.40-7.87
Current Tax - Total28.2731.62-2.04-40.40-7.87
Deferred Tax - Total-29.75-29.64-17.113.70-26.14
Deferred Tax - Total-29.75-29.64-17.113.70-26.14
Income Tax - Total-1.481.99-19.16-36.70-34.00
Interest Cost - Domestic2.03----2.242.26
Service Cost - Domestic--------.00
Prior Service Cost - Domestic.00----.00.00
Expected Return on Assets - Domestic-1.87-----1.45-2.09
Actuarial Gains and Losses - Domestic.32----.38.02
Curtailments & Settlements - Domestic.01------.00
Transition Costs - Domestic.00----.00--
Domestic Pension Plan Expense.49----1.16.19
Interest Cost - Post-Retirement.24----.22.23
Service Cost - Post-Retirement.20----.21.15
Prior Service Cost - Post-Retirement-.23-----.24-.24
Actuarial Gains and Losses - Post-Retirement.16----.02.04
Transition Costs - Post-Retirement------.02.02
Post-Retirement Plan Expense.36----.23.19
Total Pension Expense.84----1.39.38
Discount Rate - Domestic4.50----5.005.25
Discount Rate - Post-Retirement4.50----5.756.00
Expected Rate of Return - Domestic6.50----6.756.75
Compensation Rate - Domestic.00----.00.00
Total Plan Interest Cost2.27----2.462.49
Total Plan Service Cost.20----.21.15
Total Plan Expected Return-1.87-----1.45-2.09
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