- El Paso Corporation reported financial results for the third quarter of 2006 with EBIT of $359 million compared to a loss of $92 million in the third quarter of 2005.
- The Pipelines segment continued its strong performance with EBIT up 12% from the third quarter of 2005, driven by increased throughput. Exploration and Production also had a solid quarter with production volumes up.
- Significant progress was made on legacy issues, including exiting the domestic power business and downsizing the gas trading book. Debt was also reduced by $3.1 billion through the end of the third quarter.
El Paso Corporation reported second quarter 2006 diluted EPS from continuing operations of $0.21, which included a $0.02 gain from production hedges. The company achieved $487 million in EBIT and $1.4 billion in cash flow from operations. El Paso reduced gross debt by $3 billion through July 2006 through strong cash flow and asset sales, bringing net debt down to $14.45 billion. The company made continued progress on legacy legal issues while pipelines, exploration and production, and other businesses performed well during the quarter.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were completed or underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the organization's capabilities were increased.
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had $1 billion year-over-year swing in profits.
- Pipelines segment saw record earnings and a 22% increase in earnings from 2005. E&P segment replaced 108% of production primarily through drilling.
- For full year 2006, the company reported $1.75 billion in EBIT and $475 million in net income.
- The company used $2.5 billion in cash for debt reduction in 2006 and reduced net debt to $14.1 billion at the end of the year.
hess 10/28/2008 Estimated Results for the Third Quarter of 2008finance8
Hess Corporation reported financial results for the third quarter of 2008 with the following highlights:
- Net income was $775 million, up from $395 million in the third quarter of 2007.
- Cash flows from operations were $1.2 billion, up from $863 million in the third quarter of 2007.
- Oil and gas production was 361,000 barrels per day, up slightly from 357,000 barrels per day in the third quarter of 2007.
The document is Unum Group's statistical supplement for the fourth quarter of 2008. It includes financial highlights, income statements, sales data, balance sheets, and segment results for Unum US, Unum UK, Colonial Life, Individual Disability - Closed Block, and Corporate. Some key figures are total revenue of $2.3 billion for Q4 2008 and $10 billion for full year 2008, net income of $41.8 million for Q4 2008 and $553.2 million for full year 2008, and premium income of $1.9 billion for Q4 2008 and $7.8 billion for full year 2008. Sales increased 6% in Q4 2008 compared to Q4 2007, led by a 12
This document provides a statistical supplement for UnumProvident Corporation's second quarter 2005 financial results, adjusted to reflect new segment reporting implemented in the third quarter of 2005. It includes key financial highlights such as total premium income of $1.94 billion for the quarter. The supplement presents financial data and statistics for the quarter and year to date by business segment, including income statements, balance sheets, investment portfolios, and statutory capital. Notes are provided to give additional context to the financial information presented.
UnumProvident Statistical Supplement Third Quarter 2005
- Provides financial highlights and statistics for UnumProvident for Q3 2005, the first three quarters of 2005, and full years 2004-2002.
- Premium income was $1.952 billion for Q3 2005. Net income was $52.6 million which included charges related to a settlement agreement and income tax benefits.
- Assets were $51.147 billion as of Q3 2005 and stockholders' equity was $7.238 billion.
- Sales of fully insured products in the U.S. Brokerage segment increased 4.3% in Q3 2005 compared to Q3 2004, while ASO products sales increased significantly.
El Paso Corporation reported second quarter 2006 diluted EPS from continuing operations of $0.21, which included a $0.02 gain from production hedges. The company achieved $487 million in EBIT and $1.4 billion in cash flow from operations. El Paso reduced gross debt by $3 billion through July 2006 through strong cash flow and asset sales, bringing net debt down to $14.45 billion. The company made continued progress on legacy legal issues while pipelines, exploration and production, and other businesses performed well during the quarter.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were completed or underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the organization's capabilities were increased.
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had $1 billion year-over-year swing in profits.
- Pipelines segment saw record earnings and a 22% increase in earnings from 2005. E&P segment replaced 108% of production primarily through drilling.
- For full year 2006, the company reported $1.75 billion in EBIT and $475 million in net income.
- The company used $2.5 billion in cash for debt reduction in 2006 and reduced net debt to $14.1 billion at the end of the year.
hess 10/28/2008 Estimated Results for the Third Quarter of 2008finance8
Hess Corporation reported financial results for the third quarter of 2008 with the following highlights:
- Net income was $775 million, up from $395 million in the third quarter of 2007.
- Cash flows from operations were $1.2 billion, up from $863 million in the third quarter of 2007.
- Oil and gas production was 361,000 barrels per day, up slightly from 357,000 barrels per day in the third quarter of 2007.
The document is Unum Group's statistical supplement for the fourth quarter of 2008. It includes financial highlights, income statements, sales data, balance sheets, and segment results for Unum US, Unum UK, Colonial Life, Individual Disability - Closed Block, and Corporate. Some key figures are total revenue of $2.3 billion for Q4 2008 and $10 billion for full year 2008, net income of $41.8 million for Q4 2008 and $553.2 million for full year 2008, and premium income of $1.9 billion for Q4 2008 and $7.8 billion for full year 2008. Sales increased 6% in Q4 2008 compared to Q4 2007, led by a 12
This document provides a statistical supplement for UnumProvident Corporation's second quarter 2005 financial results, adjusted to reflect new segment reporting implemented in the third quarter of 2005. It includes key financial highlights such as total premium income of $1.94 billion for the quarter. The supplement presents financial data and statistics for the quarter and year to date by business segment, including income statements, balance sheets, investment portfolios, and statutory capital. Notes are provided to give additional context to the financial information presented.
UnumProvident Statistical Supplement Third Quarter 2005
- Provides financial highlights and statistics for UnumProvident for Q3 2005, the first three quarters of 2005, and full years 2004-2002.
- Premium income was $1.952 billion for Q3 2005. Net income was $52.6 million which included charges related to a settlement agreement and income tax benefits.
- Assets were $51.147 billion as of Q3 2005 and stockholders' equity was $7.238 billion.
- Sales of fully insured products in the U.S. Brokerage segment increased 4.3% in Q3 2005 compared to Q3 2004, while ASO products sales increased significantly.
The document is a statistical supplement from UnumProvident for the first quarter of 2005. It provides financial highlights and statistics for UnumProvident for the quarters and years ending March 31, 2005, March 31, 2004 and December 31, 2004 and 2003. Some key figures include total revenue of $2.6 billion for the quarter, net income of $152 million compared to a net loss of $562 million in the prior year quarter, and total assets of $50.8 billion and stockholders' equity of $7.1 billion as of March 31, 2005.
The document is a statistical supplement from UnumProvident providing financial highlights and results for the first quarter of 2006. Some key details include:
- Premium income for the quarter was $1.97 billion, up slightly from $1.935 billion in the first quarter of 2005.
- Net income for the quarter was $73.4 million, down from $152.2 million in the first quarter of 2005, due to a $86 million claim reassessment charge.
- Total assets as of March 31, 2006 were $50.471 billion, down slightly from $50.836 billion at March 31, 2005.
The document is a statistical supplement from UnumProvident for the third quarter of 2006 that includes financial highlights and statistics for the company. Some key details from the financial highlights include:
- For the third quarter of 2006, UnumProvident reported a net loss of $63.7 million compared to net income of $52.6 million for the same quarter the previous year.
- For the first nine months of 2006, UnumProvident reported net income of $134.9 million compared to $376.1 million for the same period in 2005.
- Total assets for UnumProvident as of September 30, 2006 were $52.2 billion, up slightly from $51.1 billion at
The document provides supplemental financial schedules for Occidental Petroleum for 4Q 2008, 4Q 2007, and full year 2008 and 2007. It shows reported net income and core results, with reconciling items between the two. Some key figures:
- 4Q 2008 reported net income was $443 million, core results were $957 million
- 4Q 2007 reported net income was $1,452 million, core results were $1,464 million
- Full year 2008 reported net income was $6,857 million, core results were $7,348 million
- Full year 2007 reported net income was $5,400 million, core results were $4,405 million
This document provides financial highlights and operating data for ConocoPhillips for the first quarter of 2007 compared to the first quarter of 2006. Some key figures include:
- Net income of $3.546 billion in Q1 2007 compared to $3.291 billion in Q1 2006.
- Oil and gas production increased from the year-ago period, with crude oil production of 840 thousand barrels per day in Q1 2007 versus 777 thousand barrels per day in Q1 2006.
- Capital expenditures and investments totaled $2.847 billion in Q1 2007 compared to $4.514 billion in the same period of 2006.
This document provides a statistical supplement for UnumProvident Corporation for the second quarter of 2006. It includes financial highlights and consolidated statements of operations, balance sheets, and sales data. Some key details are:
- For the second quarter of 2006, total revenue was $2.67 billion and net income was $125.2 million.
- Premium income for the first six months of 2006 was $3.96 billion and net income was $198.6 million.
- Financial sales data shows growth in most product lines for the U.S. Brokerage segment compared to the second quarter and first six months of 2005.
StockerYale reported financial results for the first quarter of 2009, with revenue of $6.3 million, down 22% year-over-year due to a strong US dollar and weak global demand. The company achieved a gross profit margin of 38% compared to 31% in Q1 2008 through higher margin product sales and cost reductions. While the operating loss was $0.9 million, EBITDA was near break-even at -$27,000 compared to a loss of $400,000 in Q1 2008. StockerYale expects continued challenges in the near future but believes medical and defense sales will increase in 2009 to offset weakness in other markets.
This document provides forward-looking statements and non-GAAP financial information for Monsanto's investor day on November 10, 2005. It includes reconciliations of free cash flow, non-GAAP EPS, and return on capital for fiscal years 2004-2007. The document also notes that references to fiscal years refer to Monsanto's year ending August 31 and lists several of Monsanto's trademarks.
hess 7/30/2008 Estimated Results for the Second Quarter of 2008finance8
Hess Corporation reported its estimated financial results for the second quarter of 2008. Net income was $900 million, up from $557 million in the second quarter of 2007. Oil and gas production increased 4% compared to the second quarter of 2007. Exploration and Production earnings were $1,025 million, up significantly from $505 million in the second quarter of 2007 due to higher oil and gas prices and increased production volumes. However, Marketing and Refining lost $52 million compared to a profit of $122 million in the prior year period due to lower margins and trading results.
The document provides a financial and operational update for El Paso Corporation for the third quarter of 2007. Some key points include:
- EPS from continuing operations was up 33% compared to the same period last year.
- Operational results were ahead of target for the quarter.
- The company completed its acquisition of Peoples and had significant exploration success in Brazil.
- The company remains on track for an IPO of El Paso Pipeline Partners, a master limited partnership, in the fourth quarter.
Matthews International reported net income of $11.3 million for the first quarter of fiscal year 2009, representing earnings per share of $0.37. This included $6.6 million in unusual charges related to cost reduction initiatives and asset adjustments due to current market conditions. Sales increased 4.9% to $191.3 million due to an acquisition in May 2008. However, weak global economic conditions impacted operating profit which declined to $20.1 million including the unusual charges. The company maintained its guidance for fiscal year 2009 of earnings per share growth of 5-10% despite the challenging market environment.
hess 1/28/2009 Estimated Results for the Fourth Quarter of 2008finance8
Hess Corporation reported a net loss of $74 million for Q4 2008 compared to net income of $510 million for Q4 2007. Key factors included after-tax dry hole costs of $86 million and foreign exchange losses of $84 million. Oil and gas production was 379,000 barrels per day, down 11,000 barrels from Q4 2007 due to hurricanes. Proved reserves increased to 1.432 billion barrels at the end of 2008, replacing 171% of 2008 production. Marketing and Refining earnings were $152 million, up from $31 million in Q4 2007.
This document provides a 2-year summary of Symantec Corporation's financial results and reconciliation of GAAP to non-GAAP results for fiscal years 2007 and 2006. It summarizes that non-GAAP revenue grew 5% to over $5.25 billion in FY2007, non-GAAP earnings per share were $1.01, and non-GAAP deferred revenue grew 19% to nearly $2.8 billion. It also discusses challenges faced and changes implemented in FY2007 to improve operations and financial performance in FY2008.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial Services 2...finance8
- GMAC reported a preliminary Q3 2007 loss of $1.6 billion compared to a loss of $173 million in Q3 2006. The loss was driven by disappointing results at ResCap including a $455 million goodwill impairment.
- Excluding ResCap, GMAC's Q3 operating income was $665 million, 51% above Q3 2006. However, ResCap reported a loss of $1.806 billion for the quarter.
- Results at ResCap reflect unprecedented disruptions in global capital markets, leading ResCap to implement a significant restructuring of its mortgage operations.
El Paso Corporation reported second quarter 2006 earnings of $0.21 per diluted share from continuing operations. Key highlights included $3 billion in gross debt reduction through July 31, year-to-date capital expenditures of $1.024 billion, and continued strong operating cash flow of $1.421 billion for the first half of 2006. The company's pipelines business continued to outperform while exploration and production achieved a second consecutive quarter of organic production growth.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
- El Paso Corporation reported a net loss of $321 million for Q3 2005, impacted by $80 million in significant items including asset impairments and a contract termination.
- Regulated pipelines continue to perform solidly, while non-regulated businesses such as production, power, and field services faced challenges from hurricanes and commodity price volatility.
- Restoration of gas flows following hurricanes Katrina and Rita is progressing, but full recovery is not expected until year-end due to dependencies on third-party infrastructure and production.
- El Paso Corporation provides natural gas and related energy products. In Q3 2005 it reported a net loss of $321 million compared to a $214 million loss in Q3 2004.
- Significant items negatively impacting results included $162 million in asset impairments and a $28 million contract termination charge, partially offset by a $110 million gain on asset sales.
- Cash flow from operating activities was negative $398 million for the first nine months of 2005, compared to positive $799 million for the same period in 2004, largely due to working capital changes.
- Total debt increased to $17.9 billion as of September 30, 2005, up from $17.5 billion as of June 30,
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had a $1 billion year-over-year swing in profits.
- Pipelines saw a 22% increase in earnings from 2005 and set a record. Exploration and production replaced 108% of production.
- For the fourth quarter, earnings were adjusted upwards by $122 million due to an alliance capacity buyout.
- For the full year, earnings were adjusted upwards by $122 million due to the buyout but adjusted downwards by $159 million due to income tax settlements and $172 million due to production hed
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the production program was on budget.
The document provides reconciliations for several non-GAAP financial measures referenced by Kodak's CEO and CFO during an earnings call to the most directly comparable GAAP measures. These include reconciliations of projected digital EFO, digital revenue growth, investable cash flow, EBITDA, interest expense, and traditional earnings/digital losses to their related GAAP measures. The reconciliations are provided to give investors the same financial data used internally by management to properly assess the company's underlying performance.
McClatchy reported a net loss of $37.7 million in Q1 2009 compared to a net loss of $1 million in Q1 2008. Revenues decreased 25.1% to $365.6 million due to a 29.5% drop in advertising revenues, though circulation revenues rose 0.9%. The company expects costs cuts and higher circulation prices to partially offset declining ad revenues throughout 2009 as the economic downturn continues to negatively impact the business. Management remains focused on transitioning to a hybrid print and digital media company through cost reductions and growing its online audience and services.
The document is a statistical supplement from UnumProvident for the first quarter of 2005. It provides financial highlights and statistics for UnumProvident for the quarters and years ending March 31, 2005, March 31, 2004 and December 31, 2004 and 2003. Some key figures include total revenue of $2.6 billion for the quarter, net income of $152 million compared to a net loss of $562 million in the prior year quarter, and total assets of $50.8 billion and stockholders' equity of $7.1 billion as of March 31, 2005.
The document is a statistical supplement from UnumProvident providing financial highlights and results for the first quarter of 2006. Some key details include:
- Premium income for the quarter was $1.97 billion, up slightly from $1.935 billion in the first quarter of 2005.
- Net income for the quarter was $73.4 million, down from $152.2 million in the first quarter of 2005, due to a $86 million claim reassessment charge.
- Total assets as of March 31, 2006 were $50.471 billion, down slightly from $50.836 billion at March 31, 2005.
The document is a statistical supplement from UnumProvident for the third quarter of 2006 that includes financial highlights and statistics for the company. Some key details from the financial highlights include:
- For the third quarter of 2006, UnumProvident reported a net loss of $63.7 million compared to net income of $52.6 million for the same quarter the previous year.
- For the first nine months of 2006, UnumProvident reported net income of $134.9 million compared to $376.1 million for the same period in 2005.
- Total assets for UnumProvident as of September 30, 2006 were $52.2 billion, up slightly from $51.1 billion at
The document provides supplemental financial schedules for Occidental Petroleum for 4Q 2008, 4Q 2007, and full year 2008 and 2007. It shows reported net income and core results, with reconciling items between the two. Some key figures:
- 4Q 2008 reported net income was $443 million, core results were $957 million
- 4Q 2007 reported net income was $1,452 million, core results were $1,464 million
- Full year 2008 reported net income was $6,857 million, core results were $7,348 million
- Full year 2007 reported net income was $5,400 million, core results were $4,405 million
This document provides financial highlights and operating data for ConocoPhillips for the first quarter of 2007 compared to the first quarter of 2006. Some key figures include:
- Net income of $3.546 billion in Q1 2007 compared to $3.291 billion in Q1 2006.
- Oil and gas production increased from the year-ago period, with crude oil production of 840 thousand barrels per day in Q1 2007 versus 777 thousand barrels per day in Q1 2006.
- Capital expenditures and investments totaled $2.847 billion in Q1 2007 compared to $4.514 billion in the same period of 2006.
This document provides a statistical supplement for UnumProvident Corporation for the second quarter of 2006. It includes financial highlights and consolidated statements of operations, balance sheets, and sales data. Some key details are:
- For the second quarter of 2006, total revenue was $2.67 billion and net income was $125.2 million.
- Premium income for the first six months of 2006 was $3.96 billion and net income was $198.6 million.
- Financial sales data shows growth in most product lines for the U.S. Brokerage segment compared to the second quarter and first six months of 2005.
StockerYale reported financial results for the first quarter of 2009, with revenue of $6.3 million, down 22% year-over-year due to a strong US dollar and weak global demand. The company achieved a gross profit margin of 38% compared to 31% in Q1 2008 through higher margin product sales and cost reductions. While the operating loss was $0.9 million, EBITDA was near break-even at -$27,000 compared to a loss of $400,000 in Q1 2008. StockerYale expects continued challenges in the near future but believes medical and defense sales will increase in 2009 to offset weakness in other markets.
This document provides forward-looking statements and non-GAAP financial information for Monsanto's investor day on November 10, 2005. It includes reconciliations of free cash flow, non-GAAP EPS, and return on capital for fiscal years 2004-2007. The document also notes that references to fiscal years refer to Monsanto's year ending August 31 and lists several of Monsanto's trademarks.
hess 7/30/2008 Estimated Results for the Second Quarter of 2008finance8
Hess Corporation reported its estimated financial results for the second quarter of 2008. Net income was $900 million, up from $557 million in the second quarter of 2007. Oil and gas production increased 4% compared to the second quarter of 2007. Exploration and Production earnings were $1,025 million, up significantly from $505 million in the second quarter of 2007 due to higher oil and gas prices and increased production volumes. However, Marketing and Refining lost $52 million compared to a profit of $122 million in the prior year period due to lower margins and trading results.
The document provides a financial and operational update for El Paso Corporation for the third quarter of 2007. Some key points include:
- EPS from continuing operations was up 33% compared to the same period last year.
- Operational results were ahead of target for the quarter.
- The company completed its acquisition of Peoples and had significant exploration success in Brazil.
- The company remains on track for an IPO of El Paso Pipeline Partners, a master limited partnership, in the fourth quarter.
Matthews International reported net income of $11.3 million for the first quarter of fiscal year 2009, representing earnings per share of $0.37. This included $6.6 million in unusual charges related to cost reduction initiatives and asset adjustments due to current market conditions. Sales increased 4.9% to $191.3 million due to an acquisition in May 2008. However, weak global economic conditions impacted operating profit which declined to $20.1 million including the unusual charges. The company maintained its guidance for fiscal year 2009 of earnings per share growth of 5-10% despite the challenging market environment.
hess 1/28/2009 Estimated Results for the Fourth Quarter of 2008finance8
Hess Corporation reported a net loss of $74 million for Q4 2008 compared to net income of $510 million for Q4 2007. Key factors included after-tax dry hole costs of $86 million and foreign exchange losses of $84 million. Oil and gas production was 379,000 barrels per day, down 11,000 barrels from Q4 2007 due to hurricanes. Proved reserves increased to 1.432 billion barrels at the end of 2008, replacing 171% of 2008 production. Marketing and Refining earnings were $152 million, up from $31 million in Q4 2007.
This document provides a 2-year summary of Symantec Corporation's financial results and reconciliation of GAAP to non-GAAP results for fiscal years 2007 and 2006. It summarizes that non-GAAP revenue grew 5% to over $5.25 billion in FY2007, non-GAAP earnings per share were $1.01, and non-GAAP deferred revenue grew 19% to nearly $2.8 billion. It also discusses challenges faced and changes implemented in FY2007 to improve operations and financial performance in FY2008.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial Services 2...finance8
- GMAC reported a preliminary Q3 2007 loss of $1.6 billion compared to a loss of $173 million in Q3 2006. The loss was driven by disappointing results at ResCap including a $455 million goodwill impairment.
- Excluding ResCap, GMAC's Q3 operating income was $665 million, 51% above Q3 2006. However, ResCap reported a loss of $1.806 billion for the quarter.
- Results at ResCap reflect unprecedented disruptions in global capital markets, leading ResCap to implement a significant restructuring of its mortgage operations.
El Paso Corporation reported second quarter 2006 earnings of $0.21 per diluted share from continuing operations. Key highlights included $3 billion in gross debt reduction through July 31, year-to-date capital expenditures of $1.024 billion, and continued strong operating cash flow of $1.421 billion for the first half of 2006. The company's pipelines business continued to outperform while exploration and production achieved a second consecutive quarter of organic production growth.
El Paso Corporation reported financial and operational results for the first quarter of 2006. Key highlights included:
- EBIT of $888 million, up significantly from $463 million in the first quarter of 2005.
- Pipelines segment EBIT of $478 million, up 16% year-over-year, driven by growth projects and acquisitions.
- Exploration and Production segment EBIT of $199 million, in line with prior year despite lower production volumes impacted by hurricanes.
- $1.3 billion in gross debt reduction year-to-date through asset sales and cash flow. Balance sheet metrics continue to improve.
- 130 Bcf of 2007 production hedged to provide
- El Paso Corporation reported a net loss of $321 million for Q3 2005, impacted by $80 million in significant items including asset impairments and a contract termination.
- Regulated pipelines continue to perform solidly, while non-regulated businesses such as production, power, and field services faced challenges from hurricanes and commodity price volatility.
- Restoration of gas flows following hurricanes Katrina and Rita is progressing, but full recovery is not expected until year-end due to dependencies on third-party infrastructure and production.
- El Paso Corporation provides natural gas and related energy products. In Q3 2005 it reported a net loss of $321 million compared to a $214 million loss in Q3 2004.
- Significant items negatively impacting results included $162 million in asset impairments and a $28 million contract termination charge, partially offset by a $110 million gain on asset sales.
- Cash flow from operating activities was negative $398 million for the first nine months of 2005, compared to positive $799 million for the same period in 2004, largely due to working capital changes.
- Total debt increased to $17.9 billion as of September 30, 2005, up from $17.5 billion as of June 30,
el paso 02_274Q2006Earnings_FINAL_FINAL_bbfinance49
This document provides an investor update from El Paso Corporation for the fourth quarter and full year 2006. Key highlights include:
- The company reduced gross debt by $2.8 billion in 2006 and had a $1 billion year-over-year swing in profits.
- Pipelines saw a 22% increase in earnings from 2005 and set a record. Exploration and production replaced 108% of production.
- For the fourth quarter, earnings were adjusted upwards by $122 million due to an alliance capacity buyout.
- For the full year, earnings were adjusted upwards by $122 million due to the buyout but adjusted downwards by $159 million due to income tax settlements and $172 million due to production hed
- The company reported financial and operational results for the first quarter of 2007, with pipeline and E&P results on target.
- Pipeline throughput was up 9% from the first quarter of 2006 due to new supply, expansions, power loads, and colder weather. Several pipeline expansion projects were underway.
- E&P production was on target and a South Texas acquisition was completed for $254 million. Exploration continued in Brazil and the production program was on budget.
The document provides reconciliations for several non-GAAP financial measures referenced by Kodak's CEO and CFO during an earnings call to the most directly comparable GAAP measures. These include reconciliations of projected digital EFO, digital revenue growth, investable cash flow, EBITDA, interest expense, and traditional earnings/digital losses to their related GAAP measures. The reconciliations are provided to give investors the same financial data used internally by management to properly assess the company's underlying performance.
McClatchy reported a net loss of $37.7 million in Q1 2009 compared to a net loss of $1 million in Q1 2008. Revenues decreased 25.1% to $365.6 million due to a 29.5% drop in advertising revenues, though circulation revenues rose 0.9%. The company expects costs cuts and higher circulation prices to partially offset declining ad revenues throughout 2009 as the economic downturn continues to negatively impact the business. Management remains focused on transitioning to a hybrid print and digital media company through cost reductions and growing its online audience and services.
- GM reported a GAAP net loss of $38.9 billion for Q3 2007 due to a $38.6 billion non-cash charge for establishing a valuation allowance against deferred tax assets in the US, Canada and Germany. Excluding special items, the adjusted net loss was $1.6 billion.
- Automotive revenue was a record $43.1 billion for Q3, while adjusted automotive results improved $577 million versus Q3 2006. GMAC reported a loss of $757 million due entirely to losses at ResCap related to the challenging US housing market.
- GM's gross liquidity increased to $30 billion at the end of the quarter, including $5.4 billion in proceeds
This document summarizes Duke Energy's financial performance in the 4th quarter and full year of 2006. Key points include:
- Ongoing diluted EPS for 2006 was $1.81, up from $1.73 in 2005, due to the addition of Cinergy offset by lower results at Crescent and International.
- Commercial Power results declined due to purchase accounting charges related to the Cinergy merger and losses from Midwest gas plants.
- International Energy results decreased because of lower earnings at National Methanol.
- Interest expense increased in 4Q06 primarily due to the Cinergy merger. The effective tax rate also declined due to tax settlements and other factors.
John Hopper, Vice President and Treasurer of Merrill Lynch, presented at the Leveraged Finance Conference on November 14, 2006. The presentation focused on El Paso Corporation's strong financial results in the third quarter of 2006, significant progress on legacy issues, continued debt reduction, growth in the pipeline business, drilling success in exploration and production, and risk management strategies. El Paso aims to provide natural gas and related energy products in a safe, efficient, and dependable manner.
John Hopper, Vice President and Treasurer of Merrill Lynch, presented at the Leveraged Finance Conference on November 14, 2006. The presentation focused on El Paso Corporation's strong financial results in the third quarter of 2006, significant progress on legacy issues, continued debt reduction, growth in the pipeline business, drilling success in exploration and production, and risk management strategies. El Paso aims to provide natural gas and related energy products in a safe, efficient, and dependable manner.
Services - GMAC Annual and Fourth Quarter Earnings finance8
GMAC reported full year net income of $2.1 billion in 2006, down from $2.3 billion in 2005. The residential mortgage market experienced a slowdown due to declining home prices and weakness in nonprime credit. Auto finance results were stable despite one-time costs. Insurance reported record earnings through robust underwriting. ResCap results were negatively impacted by $839 million due to homebuilder equity sales and nonprime mortgage market deterioration.
This document summarizes a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
This document summarizes a presentation given by Jay Craig, Senior Vice President and Controller of ArvinMeritor, at the JPMorgan Harbour Auto Conference on August 6, 2007. The presentation discusses ArvinMeritor's financial results for the third quarter of fiscal year 2007, including earnings of $0.25 per share before special items. It also provides guidance for full year 2007 EPS of $0.75 to $0.80 before special items. The presentation addresses questions about free cash flow and the sale of the Emissions Technologies business unit.
Danaher Corporation announced record financial results for the third quarter and first nine months of 2006. Net earnings increased 17% for the quarter and 24% year-to-date compared to the same periods in 2005. Sales also increased substantially both for the quarter (24% higher) and year-to-date (21% higher). The CEO stated that core revenue growth remained strong and they expect to continue delivering positive results for the remainder of the year based on the strength of their businesses.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial finance8
- GM reported adjusted net income of $529 million for Q3 2006, an improvement of $1.643 billion from Q3 2005. This was driven by strong performance in GMNA and improvements in GME and GMLAAM.
- In North America, cost reductions led to an adjusted net income improvement of over $1.3 billion versus Q3 2005. Launch vehicles delivered favorable contribution margins despite rising material costs.
- Europe reported an adjusted net income improvement of $105 million versus Q3 2005 due to ongoing restructuring benefits, while Latin America, Africa & Middle East saw a $153 million improvement due to volume growth and mix improvements.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Earnings per share were $0.33 compared to $0.18 in the prior year. Pipeline throughput increased 7% due to higher volumes on key systems. Exploration and production volumes grew 8% as lifting costs decreased 14%. The company also completed $598 million in asset divestitures.
El Paso Corporation reported financial and operational results for the first quarter of 2008. Key highlights included solid earnings of $0.33 per share, an 8% increase in exploration and production volumes, and a 5% rise in pipeline earnings. The company also made progress on several growth projects and completed $598 million in divestitures. However, results were impacted by non-cash changes in fair values of certain derivatives. Overall, both the pipelines and exploration & production segments saw higher volumes and earnings compared to the prior year quarter.
Danaher Corporation announced record first quarter results for 2006, with net earnings of $216 million, a 15% increase from 2005. Total sales increased 17.5% to $2.14 billion due to 12.5% growth from acquisitions and 7.5% core revenue growth. Operating cash flow was also up 8% from the previous record set in 2005. The company's CEO stated that the broad-based strength across businesses reinforces confidence in delivering positive results for the rest of 2006.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established processes for continuous improvement to drive organic growth and integrate acquisitions. The presentation discusses Jarden's strategy, brand strengths, growth approach, operating culture, and framework for ongoing process improvement.
This investor presentation provides an overview of Jarden Corporation. In 3 sentences: Jarden is a diversified global consumer products company with a portfolio of over 100 brands across multiple segments. It has established resilient business platforms and market-leading brands. Jarden's growth strategy focuses on organic growth through increased investment and acquisitions of core, tuck-in businesses that strategically fit with its international focus.
Alltrista Corporation is a leading provider of niche consumer products used for home food preservation. In 2001, Alltrista undertook strategic initiatives to focus on its core consumer products business, including the divestiture of non-core businesses. As a result, Alltrista reported a net loss of $85.4 million for 2001 due to special charges associated with divestitures and restructuring costs. However, the divestitures and restructuring positioned Alltrista to focus on growing its consumer products business through the planned acquisition of Tilia International, which would make Alltrista the market leader in home vacuum packaging systems.
Alltrista sold off non-core businesses in 2001 to focus on consumer products, especially those related to home food preservation. This included brands for canning and vacuum packaging. The divestitures removed financial burdens and generated tax refunds. Alltrista also closed an office to reduce costs. Going forward, the strategy is to leverage leadership in niche consumer product markets to drive growth, with an acquisition of Tilia planned to expand into vacuum packaging.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
This document is Jarden Corporation's 2002 Annual Report. It provides an overview of the company's performance in 2002 including financial highlights and summaries of its main business segments: branded consumables, home vacuum packaging, plastic consumables, and other. It discusses the company's acquisition of Tilia and strategic direction to build a world-class consumer products company with leading market shares in niche branded consumable products.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that 2004 will be another record year as the company continues executing its strategy of building a portfolio of market-leading consumer brands.
The 2003 annual report summarizes Jarden Corporation's financial and operating results for the year. It discusses record financial performance with revenues surpassing $500 million and cash flow from operations exceeding $70 million. It also highlights the acquisitions of Diamond Brands and Lehigh Consumer Products, which added over $250 million in annual revenue. The Chairman expresses optimism that this is just the beginning and that Jarden will continue executing its strategy to deliver strong growth.
The document summarizes Jarden Corporation's 2004 annual report. It discusses record financial results in 2004, including 5% organic sales growth and 18% EBITDA margins. It also highlights acquisitions of The United States Playing Card Company and American Household, Inc., owner of brands like Coleman and Sunbeam. The acquisition of American Household tripled Jarden's revenue base and provides opportunities for margin expansion and earnings growth.
The document is Jarden Corporation's 2004 annual report. It discusses Jarden's record financial results in 2004, including organic sales growth of 5% and EBITDA margins of 18% excluding non-cash charges. It also summarizes two acquisitions completed in 2004 - The United States Playing Card Company and American Household, Inc. - and how they will help Jarden expand its business and drive margin improvement towards a target of 15% over five years. The report highlights the company's focus on innovation through new product introductions and maintaining financial flexibility.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
Jarden Corporation reported record financial performance in 2006, with net sales increasing 21% to $3.85 billion and consolidated segment earnings growing 23% to $442 million. The annual report provides an overview of the company's three business segments - Branded Consumables, Consumer Solutions, and Outdoor Solutions - and their financial contributions. It also highlights new products, operational efficiencies, and initiatives around veterans hiring, outdoor recreation, and sustainability. Chairman Martin Franklin expressed confidence that the company is on track to double adjusted earnings per share within three to five years.
Chiquita Brands experienced a difficult year in 1999 due to severe banana price declines in Europe resulting from an overallocation of EU banana import licenses. Weak economies in Eastern Europe and Russia also negatively impacted pricing. Operating income declined compared to 1998. However, the company's Processed Foods business saw improved earnings. Chiquita completed a workforce reduction to streamline operations and generate annual savings. The EU banana import regime remains in noncompliance with international trade laws and continues to be challenged at the WTO.
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
This document provides an update on Chiquita's progress against its three-year strategic plan to focus on its core banana business, drive better performance through cost reductions, and strengthen its balance sheet. Some key updates include selling non-core assets to focus on bananas, implementing cost saving programs with a target of $70 million in annual savings by 2005, reducing debt by over $100 million in 2002, and plans to invest cash flow into new growth opportunities once debt targets are met.
This document is Chiquita Brands International's 2003 annual report. It summarizes the company's financial performance and operational highlights for 2003. The key points are:
- Operating income doubled to $140 million compared to previous periods, due in part to asset sales. Debt was reduced by $122 million, achieving a $400 million target early.
- Productivity increased 12% on owned banana farms and a new fresh cut fruit business was successfully launched. Labor and food safety certifications were also earned.
- The company aims to leverage its brand and expand into higher-margin fruit businesses, targeting 30% of revenues from new businesses in 5 years. Transformation will include a focus on marketing and new talent.
Chiquita Brands International is a leading marketer and producer of bananas and other fresh produce. In 2004, the company achieved several financial and operational goals including 18% sales growth to $3.1 billion, a 23% increase in operating cash flow to $92 million, and an 11% reduction in total debt. The CEO discusses the company's strategy to strengthen its core banana business, pursue profitable growth through new acquisitions and segments, build a high-performance organization, and improve profitability in North America. Key goals for 2005 include completing the acquisition of Fresh Express to diversify product offerings and integrating the new leadership team to execute the long-term strategy.
This document is Chiquita Brands International's 2005 Annual Report. Some key highlights include:
- Net sales grew 27% to a record $3.9 billion in 2005. Operating income increased 66% to $188 million and net income grew 138% to $131 million.
- The company continued strengthening its management team and board. It also acquired Fresh Express, the US market leader in value-added salads.
- In Europe, Chiquita reinforced its brand leadership in the face of a controversial new EU banana import regime. In North America, it achieved its first meaningful increase in banana pricing in over 15 years.
- Fresh Express accelerated its market leadership in retail value-added salads to a
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
1. Third Quarter 2006
Financial & Operational Update
November 6, 2006
the place to work
the neighbor to have
the company to own
2. Cautionary Statement Regarding
Forward-looking Statements
This presentation includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The company has made every reasonable effort to ensure that the information and
assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of
factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in
this presentation, including, without limitation, changes in unaudited and/or unreviewed financial information; our ability to
implement and achieve our objectives in the 2006 plan, including achieving our debt-reduction, earnings and cash flow targets; the
effects of any changes in accounting rules and guidance; our ability to meet production volume targets in our Exploration and
Production segment despite delays in resuming production shut-in due to hurricanes Rita and Katrina; uncertainties and potential
consequences associated with the outcome of governmental investigations, including, without limitation, those related to the
reserve revisions and natural gas hedge transactions; the outcome of litigation, including class actions related to reserve revisions
and restatements; our ability to comply with the covenants in our various financing documents; our ability to obtain necessary
governmental approvals for proposed pipeline projects and our ability to successfully construct and operate such projects; the
risks associated with recontracting of transportation commitments by our pipelines; regulatory uncertainties associated with
pipeline rate cases; actions by the credit rating agencies; our ability to successfully exit the energy trading business; our ability to
close our announced asset sales on a timely basis; changes in commodity prices for oil, natural gas, and power and relevant basis
spreads; inability to realize anticipated synergies and cost savings associated with restructurings and divestitures on a timely
basis; general economic and weather conditions in geographic regions or markets served by the company and its affiliates, or
where operations of the company and its affiliates are located; the uncertainties associated with governmental regulation; political
and currency risks associated with international operations of the company and its affiliates; competition; and other factors
described in the company’s (and its affiliates’) Securities and Exchange Commission filings. While the company makes these
statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will
be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The company
assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking
statements made by the company, whether as a result of new information, future events, or otherwise.
Non-GAAP Financial Measures
This presentation includes certain Non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these
Non-GAAP financial measures, including EBIT, net debt, and total liquidity, and per unit total cash expenses, and the required
reconciliations under Regulation G, are set forth in the appendix hereto.
2
3. Our Purpose
El Paso Corporation provides
natural gas and related energy
products in a safe, efficient, and
dependable manner
3
4. Third Quarter Highlights
■ Third consecutive profitable quarter
■ Pipelines continue to deliver
• Outstanding financial results
• Continued progress on expansions
• Continued progress on rate cases
■ E&P has solid quarter
• New leadership on board
• Volumes up
• New deep shelf discovery
■ Continued progress on legacy issues
4
5. Significant Progress on Legacy Items
First Six Months 2006 July To-Date
■ Shareholder litigation ■ Exit domestic power
■ Macaé, Araucaria disputes ■ Downsize gas trading book
■ Power book sale ■ Completed sale of ICE shares
■ SEC & DOJ investigations ■ Closed $61 MM of international
power sales
More issues now behind us
5
7. Financial Results
Three Months Ended
September 30,
($ Millions) 2006 2005
EBIT $ 359 $ (92)
Interest and debt expense (310) (337)
Income (loss) before income taxes 49 (429)
Income taxes (86) (136)
Income (loss) from continuing operations 135 (293)
Discontinued operations, net of taxes – (19)
Net Income (loss) 135 (312)
Preferred stock dividends 9 9
Net income (loss) available to common stockholders $ 126 $ (321)
Diluted EPS from continuing operations $0.18 $(0.47)
Diluted EPS from discontinued operations, net of income taxes – (0.03)
Total diluted EPS $0.18 $(0.50)
7
8. Items Impacting 3Q 2006 Results
After-tax1
($ Millions) Pre-tax
MTM on production puts, calls,
& swaps (trade book)2 $ 48 $ 31
MTM on production basis hedges
(E&P other revenues) (45) (29)
MCV sale—MTM impact (trade book) (133) (85)
Revolver debt restructuring charge (17) (11)
Resolution of tax matters – 105
1Assumes 36% tax rate
2Net of settlements and excluded from 2006 earnings target
8
9. Business Unit Contribution
Three Months Ended
September 30, 2006
Capital
Expenditures1
($ Millions) EBIT DD&A
Core Business
$2952
Pipelines $305 $ 114
Exploration & Production 141 163 314
Other Business
Marketing and Trading (108) 1 –
Power 38 – –
Corporate (17) 4 6
Total $359 $ 282 $615
1Cash basis
2Includes $48 MM of capital relating to hurricanes
9
10. Cash Flow Summary
Nine Months Ended
September 30,
($ Millions) 2006 2005
$ (113)
Net income (loss) from continuing operations $ 663
903
Non-cash adjustments 983
790
Subtotal 1,646
(1,177)
Working capital changes and other 356
(387)
Cash flow from continuing operations 2,002
(11)
Discontinued operations 10
$ (398)
Cash flow from operations $2,012
$1,260
Capital expenditures $1,639
$1,023
Acquisitions, net of cash acquired $ –
$ 85
Dividends paid $ 108
Continued strong operating cash flow
10
11. 2006 Analysis of
Working Capital and Other Changes
Nine Months Ended
($ Millions) September 30, 2006
Margin collateral $ 896
Changes in price risk management activities (59)
Settlements of derivative instruments (205)
Net changes in receivable/payable (135)
Other (141)
Total working capital changes & other $ 356
$442 MM
associated with
power book sale
11
12. Balance Sheet Summary
($ Millions) September 30, 2006 December 31, 2005
Total financing obligations $15,179 $18,009
Macaé project debt* $ – $ 225
Total book capitalization $19,950 $21,654
Cash $ 759 $ 2,132
Net debt $14,420 $16,102
7.9%
Weighted average cost of debt 8.1%
$ 2,303
Total liquidity $ 1,651
$3.1 billion reduction in gross debt through September 30, 2006
*Macaé project debt is included in liabilities for discontinued operations and was subsequently
retired in April 2006
12
14. Highlights
■ Excellent financial results
• EBIT up 12% from 3Q 2005; up 13% YTD
■ Encouraging developments on EPNG rate case
■ CIG rate settlement approved by FERC
■ Significant progress on growth projects
14
15. Pipelines Segment Financial Results
Three Months Ended
September 30,
($ Millions) 2006 2005
EBIT $ 305 $ 272
Capital expenditures*
Before hurricanes $ 247 $ 237
After hurricanes $ 295 $ 240
Total throughput (BBtu/d)
100% 19,439 18,019
Equity investments 2,936 2,881
Total throughput 22,375 20,900
*Cash basis
15
16. Third Quarter Throughput Review
% Increase 3Q 2006 vs. 3Q 2005
→ Power loads in Mexico, Gulf Coast, and New England
TGP 9%
(1)% → Steady market
ANR
→ Power loads in Southeast and
18%
SNG
deliveries to other pipes
→ Power load in California (hydro down)
4%
EPNG
→ Cheyenne Plains, WIC expansion,
15%
CIG
Piceance Basin volumes
8% increase in throughput reflects power demand and
supply-related transportation
16
17. Expansion Milestones
($ Millions) Capital
■ Filed with FERC:
• SNG Elba III and Elba Express $930
■ FERC Certificates issued:
• SNG Cypress 244
• TGP Essex Middlesex 38
■ Expected in-service in 4Q:
• ANR Wisconsin 2006 47
• TGP Northeast ConneXion NY/NJ 26
• Cheyenne Plains Yuma County Lateral 23
17
18. New Expansions—Signed PAs
($ Millions) Capital
■ ANR STEP 2007 & 2008 $ 95
■ CIG Front Range delivery infrastructure 145
■ CIG Raton Expansion 12
$252 MM of committed projects YTD
18
19. Outlook for Continued Growth is Excellent
Growth project portfolio approximately $3 Billion
TGP Essex-
TGP NE ConneXion Middlesex
New England $38 MM
$103 MM November 2007
ANR Wisconsin 2006 November 2007
ANR STEP 82 MMcf/d
$47 MM 136 MMcf/d
$95 MM
WIC Kanda Lateral November 2006
2007/08
$141 MM 168 MMcf/d
27 Bcf/412 MMcf/d
January 2008
Up to 410 MMcf/d
TGP NE ConneXion
Cheyenne Plains NY/NJ
Expansion $26 MM
CP Yuma Lateral
CIG High Plains Project
$26 MM November 2006
$23 MM
$145 MM
April 2008 42 MMcf/d
December 2006
December 2008/July 2009
90 MMcf/d 49 MMcf/d
965 MMcf/d
CIG Raton Expansion
EPNG
$12 MM SNG Elba Expansion
Arizona Storage
November 2007 III & Elba Express
$118 MM
29 MMcf/d $930 MM
June 2010
2010–2012
3.5 Bcf/350 MMcf/d
SNG New Home
TGP Carthage 8.4 Bcf/900 MMcfd
Storage
Expansion
Mexico JV—LPG $145 MM
$34 MM SNG Cypress Phase I / II
Reynosa
EPNG Sonora Lateral 3Q 2010
May 2009 $244 MM/$19 MM
$53 MM (50%)
$152 MM 7 Bcf/700 Mcf/d
100 MMcf/d May 2007/Mid-2008
July 2007
April 2011
220 MMcf/d/116 MMcf/d
30,000 Bbl/d
1,000 MMcf/d
TGP/ANR
Eugene Island 371
FGT Phase VII—Part I and II
Mexico JV— Sonora $41 MM
$63 MM/$0 MM
$406 MM (33%) January 2007
May 2007/ May 2008
2010/2011 200 MMcf/d
60 MMcf/d/20 MMcf/d
1,000–1,250 MMcf/d
TGP
SNG Cypress
LA Deepwater Link
Phase III
$55 MM
FERC Certificated/ Under Construction $61 MM
January 2007
May 2010
850 MMcf/d
Signed PA’s Future Projects 164 MMcf/d
19
21. E&P Accomplishments
■ Continued sequential production growth
■ Continued drilling success
■ GOM hurricane recovery complete
■ New deep shelf discovery
21
22. E&P Results
Three Months Ended
September 30,
($ Millions) 2006 2005
$ 1411
EBIT $ 169
Capital expenditures2 $ 314 $ 195
Acquisitions $– $ 845
Production (MMcfe/d)
Consolidated volumes 744 736
Four Star equity volumes 66 23
Production costs ($/Mcfe) $1.35 $1.06
General and administrative expenses ($/Mcfe) 0.57 0.65
Other ($/Mcfe) 0.03 0.03
Total cash expenses ($/Mcfe) $1.95 $1.74
1Includes$(45) MM MTM impact of basis hedges and does not include cash benefit of
$19 MM settlement of production-related hedges in Marketing & Trading
2Cash basis
22
24. Production Update1
MMcfe/d
810
785
765 23
22
32
189
165
133
1872 183
195
415
405 411
1Q 2006 2Q 2006 3Q 2006
Onshore TGC GOM/SLA International
Averaged approximately 830 MMcfe/d in October
1Includes proportionate share of Four Star equity volumes
2Sold properties in South Texas in 2Q producing 5 MMcfe/d
24
25. Region Production Status
Status Comments
Texas Gulf Coast Meeting expectations
International Meeting expectations
Four Star Meeting expectations
Onshore Slightly below expectations Rig availability, program timing
Gulf of Mexico/S. Louisiana Below expectations Hurricane-related delays
■ 2006 production outlook 790–800 MMcfe/d
■ 2006 exit rate estimated at 830–850 MMcfe/d
25
26. Gulf of Mexico/S. Louisiana Activity
Production Online
Wells Online by 12/31/06E
3Q 2006 4Q 2006 1Q 2007 (MMcfe/d) Comments
August 7 Forecast
Wells completing 3 3 – 35–50
Wells drilling 3 2 – 20–35
Wells to be drilled 1 1 – 10–15
Current Forecast
Wells completing 3 – 3 18 Construction delays
Wells drilling 2 – 1 10 Drilling delays; two*
dry holes
Wells to be drilled – 1 – 3–4 One dry hole
Significant GOM discoveries expect to
bring 25–40 MMcfe/d by 1Q 2007
*One of two dry holes carried—no cost to EP
26
27. New Deep Shelf Discovery:
West Cameron Block 132
■ Working interest: 30%
(16.9% of total capital costs)
■ TD: 20,295 feet
■ Flow test: 28 MMcfe/d gross;
8 MMcfe/d net
■ Est. production date:
March 2007
WC 132 #1
27
31. Marketing & Trading Results
Three Months Ended
September 30
($ Millions) 2006 2005
EBIT
MTM gas1 $ (186) $ (67)
MTM for Production puts, calls, and swaps2 67 (390)
MTM power 27 26
MTM Cordova Tolling Agreement – 45
Settlements, demand charges, and other (13) (3)
Operating expenses and other income (3) (9)
Reported EBIT $ (108) $(398)
12006 includes $133 MM loss from affiliated portion of MCV supply contract
2Net of cash settlements is $48 MM in 2006 and $(382) MM in 2005
31
32. Mark-to-Market (MTM) Natural Gas Book
3Q Partial Divestiture
■ Eliminated basis exposure at 20 different locations
out to 2015
■ Flattened fixed-price exposure
■ Reduced earnings volatility and credit risk
■ Cut deal count by 216 (3,824 to 1,420 reduction
since 9/30/05)
Gas book has minimal volatility
32
33. MTM Trade Book by Commodity
Approx. Value
at 9/30/06 ($ MM)
Volatility Status
$ (216)
Gas Low Includes ($133) MM Accrual MCV
position moved to MTM book;
remaining fixed price position is flat
$ (296)
Power Low Remaining commodity position
hedged at PJM west hub
$ (125)
Power Medium Open PJM basis position
$ 27
Economic hedges High $(249) MM liability eliminated due
to roll-off and falling gas prices
Continue to pursue opportunities to
downsize book and eliminate accrual obligations
33
34. EP Value Proposition
■ High visibility growth
■ Low-beta business Pipelines
■ Low commodity risk 60% ■ Emerging growth
E&P
■ Significant commodity upside
40%
■ $8 floors in 2007 mitigate
downside
■ Acquisition opportunities
Visible Growth + High-Impact Growth Opportunities +
Limited Commodity Downside + Improved Balance Sheet =
Great Outlook
34
36. Disclosure of Non-GAAP
Financial Measures
The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure.
In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most directly comparable financial measure
calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure
presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The required
presentations and reconciliations are provided herein. Additional detail regarding non-GAAP financial measures can be reviewed in our
full operating statistics posted at www.elpaso.com in the Investors section.
El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to assess the operating
results and effectiveness of the company and its business segments. The company defines EBIT as net income (loss) adjusted for (i)
items that do not impact its income (loss) from continuing operations, such as extraordinary items, discontinued operations, and the
impact of accounting changes; (ii) income taxes; (iii) interest and debt expense; and (iv) distributions on preferred interests of
consolidated subsidiaries. The company excludes interest and debt expense and distributions on preferred interests of consolidated
subsidiaries so that investors may evaluate the company’s operating results without regard to its financing methods or capital
structure. El Paso’s business operations consist of both consolidated businesses as well as substantial investments in unconsolidated
affiliates. As a result, the company believes that EBIT, which includes the results of both these consolidated and unconsolidated
operations, is useful to its investors because it allows them to evaluate more effectively the performance of all of El Paso’s businesses
and investments. Net Debt is defined as El Paso's total Financing Obligations as disclosed on the company's consolidated balance
sheet net of cash and cash equivalents. Net Debt is an important measure of the company's total leverage. Investor’s should be aware
that some of El Paso’s cash is restricted and not available for debt repayment. Per Unit Total Cash Expenses equal total operating
expenses less DD&A and other non-cash charges divided by total consolidated production. Total Liquidity is defined as cash that is
easily available for general corporate purposes and available capacity under El Paso's $1.25 billion credit agreement, El Paso’s $500 MM
letter of credit facility and El Paso Exploration and Production Company’s $500 MM credit agreement. Total Liquidity demonstrates the
company’s ability to meet current obligations and commitments.
El Paso believes that the non-GAAP financial measures described above are also useful to investors because these measurements are
used by many companies in the industry as a measurement of operating and financial performance and are commonly employed by
financial analysts and others to evaluate the operating and financial performance of the company and its business segments and to
compare the operating and financial performance of the company and its business segments with the performance of other companies
within the industry.
These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies and should not
be used as a substitute for net income, earnings per share or other GAAP measurements.
36
39. Net Debt Reconciliation
$ Billions
September 30, December 31,
2006 2005
Total debt $15.2 $18.0
Macaé project debt – 0.2
Total cash and cash equivalents (0.8) (2.1)
Outstanding net debt $14.4 $16.1
39
40. Non-GAAP Reconciliation:
Total Cash Expenses
Three Months Ended September 30, 2006
2006 total equivalent volumes (MMcfe): 68,490
2005 total equivalent volumes (MMcfe): 67,684
2006 2005
Per Unit Per Unit
Total ($ MM) Total ($ MM)
($/Mcfe) ($/Mcfe)
Total operating expense $ 318 $ 4.64 $ 282 $ 4.17
Depreciation, depletion,
and amortization (163) (2.38) (153) (2.26)
Costs of products and services (23) (0.31) (11) (0.17)
Total cash expenses ($/Mcfe)* $ 1.95 $ 1.74
*Excludes costs associated with equity investment in Four Star
40
41. Non-GAAP Reconciliation:
Total Liquidity
$ Millions
September 30, December 31,
2006 2005
Readily available cash $ 614 $ 1,975
Available capacity under credit facilities 1,037 328
Total liquidity $1,651 $ 2,303
41
42. Production-Related Derivative Schedule
2006 2007 2008 2009–2012
Notional Average Average Notional Average Notional Average Notional Average
Natural Gas Volume Hedge Cash Volume Hedge Volume Hedge Volume Hedge
(Bcf) Price Price (Bcf) Price (Bcf) Price (Bcf) Price
Designated—EPEP
20.9 $6.30 $3.93 4.6 $3.28 4.6 $3.42 16.0 $3.74
Fixed Price—Legacy1
Fixed Price 0.5 $5.28 $5.28 0.8 $5.23
Ceiling 129.6 $16.02
Floor 129.6 $8.00
Economic—EPM
Fixed Price 6.3 $8.11 $8.11
Ceiling 15.0 $9.50 $9.50 18.0 $10.00 16.8 $8.75
Floor 30.0 $7.00 $7.00 18.0 $6.00 16.8 $6.00
2006 2007 2008
Notional Average Average Notional Average Notional Average
Crude Oil Volume Hedge Cash Volume Hedge Volume Hedge
(MMBbls) Price Price (MMBbls) Price (MMBbls) Price
Economic—EPEP
Fixed Price 0.09 $35.15 $35.15 0.19 $35.15
Economic—EPM
Fixed Price 0.26 $58.81 $58.81
Ceiling 1.01 $60.38 0.93 $57.03
Floor 1.01 $55.00 0.93 $55.00
See El Paso’s Form 10-Q filed 11/06/06 for additional information on the company’s derivative activity
1
Hedge price and cash price are identical for 2007–2012
Note: Positions are as of September 30, 2006 (Contract months: October 2006–Forward)
42
43. Financial Results
Nine Months Ended
September 30
($ Millions) 2006 2005
EBIT $1,734 $ 809
Interest and debt expense (990) (1,013)
Preferred interests of consolidated subsidiaries – (9)
Income (loss) before income taxes 744 (213)
Income taxes 81 (100)
Income (loss) from continuing operations 663 (113)
Discontinued operations, net of taxes (22) (331)
Net Income (loss) 641 (444)
Preferred stock dividends 28 17
Net income (loss) available to common stockholders $ 613 $(461)
Diluted EPS from continuing operations $ 0.90 $(0.20)
Diluted EPS from discontinued operations, net of income taxes (0.03) (0.52)
Total diluted EPS $ 0.87 $(0.72)
43
44. Business Unit Contribution
Nine Months Ended September 30, 2006
Capital
Expenditures1
($ Millions) EBIT DD&A
Core Business
$ 8232
Pipelines $1,118 $344
Exploration & Production 503 465 799
Other Business
Marketing and Trading 113 3 –
Power 51 1 –
Corporate (51) 19 17
Total $1,734 $832 $1,639
1Cash basis
2Includes $243 MM of capital relating to hurricanes
44
45. Pipelines Segment Financial Results
Year-to-Date ended
September 30
($ Millions) 2006 2005
EBIT $1,118 $ 993
Capital expenditures*
Before hurricanes $ 580 $ 512
After hurricanes $ 823 $ 573
Total throughput (BBtu/d)
100% 19,021 18,418
2,886 2,842
Equity investments
21,907 21,260
Total throughput
*Cash basis
45
46. E&P Results
Nine Months Ended
September 30
($ Millions) 2006 2005
EBIT1 $ 503 $ 528
Capital expenditures2 $ 799 $ 658
Acquisitions $– $1,023
Production (MMcfe/d)
Consolidated volumes 719 762
Four Star equity volumes 67 8
Production costs ($/Mcfe) $1.20 $ 0.90
General and administrative expenses ($/Mcfe) 0.62 0.62
Other ($/Mcfe) 0.03 0.05
Total cash expenses ($/Mcfe) $1.85 $ 1.57
1Includes$(40) MM MTM impact of basis hedges and does not include cash benefit of
$22 MM settlement of production-related hedges in Marketing & Trading
2Cash basis
46
47. Marketing & Trading Results
Nine Months Ended
September 30
($ Millions) 2006 2005
EBIT
MTM gas1 $ (157) $ 52
MTM for Production puts, calls, and swaps2 256 (508)
MTM power 64 (46)
MTM Cordova Tolling Agreement – (66)
Settlements, demand charges, and other (45) (17)
Operating expenses and other income (5) (28)
Reported EBIT $ 113 $ (613)
Number of legacy transactions 1,420 3,824
12006 includes $133 MM loss from affiliated portion of MCV supply contract
2Net of cash settlements is $234 MM in 2006 and $(500) MM in 2005
47
48. Third Quarter 2006
Financial & Operational Update
November 6, 2006
the place to work
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