- Danaher Corporation filed a quarterly report on Form 10-Q with the SEC for the quarter ended June 27, 2008.
- The filing includes Danaher's consolidated condensed financial statements and notes, and management's discussion and analysis of financial condition and results of operations.
- Highlights include total sales of $3.3 billion for the quarter and $6.3 billion for the six months ended June 27, 2008, with net earnings of $363 million and $640 million respectively.
This document is Visteon Corporation's Form 10-Q/A for the quarter ended March 31, 2004, which includes restated financial statements. The restatements are primarily due to errors in accounting for retiree health benefits, tooling costs, volume rebates, pension expenses, and taxes. The corrections resulted in a decrease to net income of $5 million for Q1 2004 and an increase to net loss of $4 million for Q1 2003. The form amends and restates items in the original filing and provides updated certifications while describing conditions as of the original filing date.
The document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 28, 2008. It includes Danaher's consolidated condensed financial statements and management's discussion and analysis. The financial statements show that for Q1 2008, Danaher's sales increased 20% to $3.028 billion compared to $2.521 billion in Q1 2007. Net earnings increased 9% to $276.5 million compared to $254.8 million. Earnings per share from continuing operations increased 7% to $0.87 basic and $0.83 diluted.
The document discusses Baxter International's 2000 Annual Report. It highlights that the number of people suffering from life-threatening conditions is growing rapidly worldwide due to an aging population and expanding access to healthcare in developing countries. Baxter aims to meet this growing global demand for treatment by leveraging its expertise in areas like plasma fractionation, recombinant processing technologies, and global manufacturing capabilities. The company is pursuing growth opportunities in existing areas like hemophilia treatment as well as new areas like vaccines and anesthesia that build on its core strengths. Baxter expects strong financial performance in 2001 with low double-digit sales growth and mid-teens earnings growth.
Net sales for the fourth quarter of 2006 decreased 9% compared to the fourth quarter of 2005, primarily due to declines in volumes and unfavorable price/mix. Digital product sales decreased 5% and traditional product sales decreased 15%. Gross profit increased 4% due to reductions in manufacturing costs, favorable price/mix and foreign exchange, partially offset by volume declines. Earnings from continuing operations were $17 million compared to a loss of $137 million in the prior year, driven by gross profit increases and lower SG&A and R&D expenses.
This document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended September 26, 2008. It includes Danaher's consolidated condensed financial statements and notes. Some key details include:
- Net earnings for the quarter were $371.9 million compared to $483.7 million in the prior year.
- Total current assets increased to $4.1 billion from $4 billion at the end of 2007.
- Sales for the quarter increased to $3.2 billion from $2.7 billion in the prior year.
- Cash flows from operating activities for the nine months ended was $1.3 billion.
Baxter International's 1996 annual report outlines its vision to be recognized as a leader in innovative healthcare technologies that improve lives. It has leading market positions in four businesses: biotechnology, cardiovascular medicine, renal therapy, and intravenous systems/medical products. All of Baxter's businesses hold leading positions in high-growth global markets and are pursuing the vision through talented and dedicated people.
This document is an SEC Form 10-K annual report filed by Entergy Corporation and several of its subsidiaries. It provides information on the companies' businesses and operations, including financial information and a management discussion and analysis. The filing includes information on the companies' securities, stock prices, directors and executives. It incorporates portions of Entergy Corporation's proxy statement for its annual shareholder meeting to be held in May 2007.
This document is Visteon Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes Visteon's consolidated financial statements, such as statements of operations and balance sheets, as well as notes to the financial statements. An independent accounting firm reviewed the financial statements and found them to be in accordance with accounting principles generally accepted in the US. The report provides Visteon's financial results for the second quarter and first half of 2006, including net sales of $3 billion and $6 billion respectively, and discusses legal proceedings, risks factors, and exhibits related to the filing.
This document is from a presentation by Michael D. Fraizer, Chairman and CEO of Genworth Financial, at the UBS Global Financial Services Conference on May 14, 2008. The presentation discusses Genworth's strategy of providing financial security products across different life stages. It acknowledges challenges in the US mortgage insurance market in 2008 due to the difficult environment, but expresses confidence in Genworth's positioning for improved future performance. The presentation outlines priorities for 2008, including navigating challenges in US mortgage insurance, expanding wealth management and retirement offerings, growing internationally, and transitioning life and long term care business lines.
Entergy Corporation's 2007 annual report summarizes the company's financial results and strategic initiatives for the year. The report discusses Entergy's plans to spin off its non-utility nuclear business and form a nuclear services joint venture in order to unlock greater value for shareholders. It also highlights Entergy's focus on operational excellence, portfolio transformation strategies in its utility business, and regulatory recovery from hurricanes Katrina and Rita in 2005.
Sempra Energy reported revenues of over $11 billion in 2007. Net income was $1.1 billion, down from $1.4 billion in 2006. Key assets included $11.3 billion in current assets and $30.1 billion in total assets as of the end of 2007. Sempra operates utilities in California serving over 6.5 million customers.
This document is Visteon Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2004. It includes Visteon's consolidated financial statements including statements of income, balance sheets, and cash flows. It also includes notes to the financial statements providing additional details. The report is broken into sections including financial information, other information, signatures, and exhibits.
The document is Sempra Energy's 1999 annual report. It summarizes the company's strong financial performance in 1999, exceeding earnings growth targets. However, total shareholder return did not increase. As a result, Sempra Energy is undertaking a strategic realignment to become a leading global energy services company focused on meeting changing customer needs. Key steps include investments in growing domestic and international businesses and a reduced dividend to increase financial flexibility for growth.
This document is a proxy statement and notice of annual meeting from Baxter International Inc. to its stockholders. It informs stockholders that the 2003 Annual Meeting of Stockholders will be held on May 6, 2003 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The purpose of the meeting is to elect three directors, ratify the appointment of the independent accountants, approve the 2003 Incentive Compensation Program, and consider a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy in advance of the meeting.
- DISH Network added 1.48 million subscribers in 2004, surpassing 10 million subscribers in June 2004 and finishing the year with 10.9 million subscribers.
- DISH Network generated $7.15 billion in revenue in 2004, with earnings of $215 million and $21 million in free cash flow.
- DISH Network continues to focus on growing its subscriber base and developing additional services, and expects to launch its 10th satellite in early 2006 to increase channel offerings and capacity.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ended December 31, 2000 filed with the Securities and Exchange Commission. It summarizes EchoStar's business operations, including its DISH Network direct broadcast satellite television service, technologies division, and satellite services business unit. It provides an overview of the components and technology behind EchoStar's DISH Network service, including its programming offerings, equipment requirements, and conditional access system for encryption/security. Financial data and other required disclosures are also included as required by the SEC.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 1999. It provides information on EchoStar's business operations, legal proceedings, risks to its business, financial statements and other required disclosures. EchoStar operates a direct broadcast satellite subscription television service in the United States called DISH Network, which had approximately 3.4 million subscribers as of December 31, 1999. It also provides digital set-top boxes and other equipment to international direct-to-home service providers.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2001 filed with the SEC. It provides an overview of EchoStar's businesses, including its DISH Network direct broadcast satellite television service and EchoStar Technologies equipment sales. It summarizes EchoStar's proposed merger with Hughes Electronics Corporation, which is subject to various regulatory approvals and conditions, including IRS and shareholder approval. If completed, the merger would create a new public company providing satellite TV services and technologies globally.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2002 filed with the SEC. It provides an overview of EchoStar's business including its DISH Network direct broadcast satellite television service and EchoStar Technologies equipment manufacturing business. It discusses EchoStar's programming packages, sales and marketing strategies, satellite fleet, technology, competition, regulation, legal proceedings, and financial results.
EchoStar Communications Corporation experienced significant growth in 2003, crossing the 9 million subscriber milestone for its DISH Network satellite television service. The company launched its ninth satellite and released several new receiver products, including those supporting high-definition television and digital video recording. Financially, EchoStar achieved $5.7 billion in revenue and $225 million in earnings, while reducing debt through bond issuances and retirements. Going forward, the company plans to continue expanding its offerings in areas like international programming and high-definition television.
- DISH Network celebrated its 10th anniversary in 2005 and reported over $8.4 billion in revenue for the year, serving over 12 million customers.
- The company increased its net subscriber base by over 1.1 million customers in 2005 and remains the clear leader in international programming.
- Looking forward, the company plans to leverage its position as an HD leader by offering local HD channels in up to 30 markets by the end of the year using its new EchoStar X satellite.
- Danaher Corporation filed a quarterly report on Form 10-Q with the SEC for the quarter ended June 27, 2008.
- The filing includes Danaher's consolidated condensed financial statements and notes, and management's discussion and analysis of financial condition and results of operations.
- Highlights include total sales of $3.3 billion for the quarter and $6.3 billion for the six months ended June 27, 2008, with net earnings of $363 million and $640 million respectively.
This document is Visteon Corporation's Form 10-Q/A for the quarter ended March 31, 2004, which includes restated financial statements. The restatements are primarily due to errors in accounting for retiree health benefits, tooling costs, volume rebates, pension expenses, and taxes. The corrections resulted in a decrease to net income of $5 million for Q1 2004 and an increase to net loss of $4 million for Q1 2003. The form amends and restates items in the original filing and provides updated certifications while describing conditions as of the original filing date.
The document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 28, 2008. It includes Danaher's consolidated condensed financial statements and management's discussion and analysis. The financial statements show that for Q1 2008, Danaher's sales increased 20% to $3.028 billion compared to $2.521 billion in Q1 2007. Net earnings increased 9% to $276.5 million compared to $254.8 million. Earnings per share from continuing operations increased 7% to $0.87 basic and $0.83 diluted.
The document discusses Baxter International's 2000 Annual Report. It highlights that the number of people suffering from life-threatening conditions is growing rapidly worldwide due to an aging population and expanding access to healthcare in developing countries. Baxter aims to meet this growing global demand for treatment by leveraging its expertise in areas like plasma fractionation, recombinant processing technologies, and global manufacturing capabilities. The company is pursuing growth opportunities in existing areas like hemophilia treatment as well as new areas like vaccines and anesthesia that build on its core strengths. Baxter expects strong financial performance in 2001 with low double-digit sales growth and mid-teens earnings growth.
Net sales for the fourth quarter of 2006 decreased 9% compared to the fourth quarter of 2005, primarily due to declines in volumes and unfavorable price/mix. Digital product sales decreased 5% and traditional product sales decreased 15%. Gross profit increased 4% due to reductions in manufacturing costs, favorable price/mix and foreign exchange, partially offset by volume declines. Earnings from continuing operations were $17 million compared to a loss of $137 million in the prior year, driven by gross profit increases and lower SG&A and R&D expenses.
This document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended September 26, 2008. It includes Danaher's consolidated condensed financial statements and notes. Some key details include:
- Net earnings for the quarter were $371.9 million compared to $483.7 million in the prior year.
- Total current assets increased to $4.1 billion from $4 billion at the end of 2007.
- Sales for the quarter increased to $3.2 billion from $2.7 billion in the prior year.
- Cash flows from operating activities for the nine months ended was $1.3 billion.
Baxter International's 1996 annual report outlines its vision to be recognized as a leader in innovative healthcare technologies that improve lives. It has leading market positions in four businesses: biotechnology, cardiovascular medicine, renal therapy, and intravenous systems/medical products. All of Baxter's businesses hold leading positions in high-growth global markets and are pursuing the vision through talented and dedicated people.
This document is an SEC Form 10-K annual report filed by Entergy Corporation and several of its subsidiaries. It provides information on the companies' businesses and operations, including financial information and a management discussion and analysis. The filing includes information on the companies' securities, stock prices, directors and executives. It incorporates portions of Entergy Corporation's proxy statement for its annual shareholder meeting to be held in May 2007.
This document is Visteon Corporation's quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes Visteon's consolidated financial statements, such as statements of operations and balance sheets, as well as notes to the financial statements. An independent accounting firm reviewed the financial statements and found them to be in accordance with accounting principles generally accepted in the US. The report provides Visteon's financial results for the second quarter and first half of 2006, including net sales of $3 billion and $6 billion respectively, and discusses legal proceedings, risks factors, and exhibits related to the filing.
This document is from a presentation by Michael D. Fraizer, Chairman and CEO of Genworth Financial, at the UBS Global Financial Services Conference on May 14, 2008. The presentation discusses Genworth's strategy of providing financial security products across different life stages. It acknowledges challenges in the US mortgage insurance market in 2008 due to the difficult environment, but expresses confidence in Genworth's positioning for improved future performance. The presentation outlines priorities for 2008, including navigating challenges in US mortgage insurance, expanding wealth management and retirement offerings, growing internationally, and transitioning life and long term care business lines.
Entergy Corporation's 2007 annual report summarizes the company's financial results and strategic initiatives for the year. The report discusses Entergy's plans to spin off its non-utility nuclear business and form a nuclear services joint venture in order to unlock greater value for shareholders. It also highlights Entergy's focus on operational excellence, portfolio transformation strategies in its utility business, and regulatory recovery from hurricanes Katrina and Rita in 2005.
Sempra Energy reported revenues of over $11 billion in 2007. Net income was $1.1 billion, down from $1.4 billion in 2006. Key assets included $11.3 billion in current assets and $30.1 billion in total assets as of the end of 2007. Sempra operates utilities in California serving over 6.5 million customers.
This document is Visteon Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2004. It includes Visteon's consolidated financial statements including statements of income, balance sheets, and cash flows. It also includes notes to the financial statements providing additional details. The report is broken into sections including financial information, other information, signatures, and exhibits.
The document is Sempra Energy's 1999 annual report. It summarizes the company's strong financial performance in 1999, exceeding earnings growth targets. However, total shareholder return did not increase. As a result, Sempra Energy is undertaking a strategic realignment to become a leading global energy services company focused on meeting changing customer needs. Key steps include investments in growing domestic and international businesses and a reduced dividend to increase financial flexibility for growth.
This document is a proxy statement and notice of annual meeting from Baxter International Inc. to its stockholders. It informs stockholders that the 2003 Annual Meeting of Stockholders will be held on May 6, 2003 at the Drury Lane Theatre in Oakbrook Terrace, Illinois. The purpose of the meeting is to elect three directors, ratify the appointment of the independent accountants, approve the 2003 Incentive Compensation Program, and consider a stockholder proposal regarding cumulative voting. Stockholders are encouraged to vote by proxy in advance of the meeting.
- DISH Network added 1.48 million subscribers in 2004, surpassing 10 million subscribers in June 2004 and finishing the year with 10.9 million subscribers.
- DISH Network generated $7.15 billion in revenue in 2004, with earnings of $215 million and $21 million in free cash flow.
- DISH Network continues to focus on growing its subscriber base and developing additional services, and expects to launch its 10th satellite in early 2006 to increase channel offerings and capacity.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ended December 31, 2000 filed with the Securities and Exchange Commission. It summarizes EchoStar's business operations, including its DISH Network direct broadcast satellite television service, technologies division, and satellite services business unit. It provides an overview of the components and technology behind EchoStar's DISH Network service, including its programming offerings, equipment requirements, and conditional access system for encryption/security. Financial data and other required disclosures are also included as required by the SEC.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 1999. It provides information on EchoStar's business operations, legal proceedings, risks to its business, financial statements and other required disclosures. EchoStar operates a direct broadcast satellite subscription television service in the United States called DISH Network, which had approximately 3.4 million subscribers as of December 31, 1999. It also provides digital set-top boxes and other equipment to international direct-to-home service providers.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2001 filed with the SEC. It provides an overview of EchoStar's businesses, including its DISH Network direct broadcast satellite television service and EchoStar Technologies equipment sales. It summarizes EchoStar's proposed merger with Hughes Electronics Corporation, which is subject to various regulatory approvals and conditions, including IRS and shareholder approval. If completed, the merger would create a new public company providing satellite TV services and technologies globally.
This document is EchoStar Communications Corporation's annual report on Form 10-K for the fiscal year ending December 31, 2002 filed with the SEC. It provides an overview of EchoStar's business including its DISH Network direct broadcast satellite television service and EchoStar Technologies equipment manufacturing business. It discusses EchoStar's programming packages, sales and marketing strategies, satellite fleet, technology, competition, regulation, legal proceedings, and financial results.
EchoStar Communications Corporation experienced significant growth in 2003, crossing the 9 million subscriber milestone for its DISH Network satellite television service. The company launched its ninth satellite and released several new receiver products, including those supporting high-definition television and digital video recording. Financially, EchoStar achieved $5.7 billion in revenue and $225 million in earnings, while reducing debt through bond issuances and retirements. Going forward, the company plans to continue expanding its offerings in areas like international programming and high-definition television.
- DISH Network celebrated its 10th anniversary in 2005 and reported over $8.4 billion in revenue for the year, serving over 12 million customers.
- The company increased its net subscriber base by over 1.1 million customers in 2005 and remains the clear leader in international programming.
- Looking forward, the company plans to leverage its position as an HD leader by offering local HD channels in up to 30 markets by the end of the year using its new EchoStar X satellite.
dish network 2007 Notice and Proxy Statementfinance24
- The document is a letter from the Chairman and CEO of EchoStar Communications Corporation inviting shareholders to attend EchoStar's 2007 Annual Meeting of Shareholders on May 8, 2007.
- It provides details on the location, time, and agenda items to be voted on at the meeting, including the election of 10 directors and the ratification of the appointment of KPMG LLP as the independent auditor.
- Shareholders are encouraged to vote by proxy whether attending the meeting or not to ensure their votes are counted, and they are thanked for their support and interest in EchoStar.
Danaher Corporation reported quarterly and annual sales and operating margin data for its Tools and Controls segments for an unaudited period. The Tools segment saw annual sales of $1.16 billion while the Controls segment generated $2.62 billion in annual sales. On an annual basis before restructuring, operating margins were 13.49% for Tools and 16.54% for Controls. After restructuring, the annual operating margin fell to 11.31% for Tools and 14.85% for Controls.
Danaher Corporation reported its fourth quarter and full year 2001 results. For the fourth quarter, net earnings excluding restructuring charges were $76.6 million compared to $87.8 million in 2000. Full year 2001 net earnings excluding restructuring charges were $341.2 million, a 5% increase over 2000. However, Danaher recorded a $69.7 million restructuring charge in the fourth quarter related to manufacturing facility consolidations. For the full year, net earnings including restructuring charges were $297.7 million. Despite difficult economic conditions, Danaher was able to grow earnings in 2001 through aggressive cost reductions and restructuring actions.
Danaher Corporation announced its third quarter 2001 results, reporting a 5% increase in net income to $87.7 million compared to $83.6 million in third quarter 2000. Third quarter sales were down 8.6% to $901.6 million due to weakness in the industrial economy. For the first nine months of 2001, net earnings increased 12% to $264.6 million on 4% higher sales of $2.86 billion compared to the same period in 2000. The CEO stated that aggressive cost control allowed for earnings growth despite softness in the economy and that Danaher will maintain a strict cost focus while economic conditions remain uncertain.
Danaher Corporation announced its second quarter 2001 results, with record net earnings of $94.2 million, up 16% from the previous year. Revenue was also up 7% to $956.6 million. For the six month period, net earnings reached a record $176.8 million, up 16% and revenue was up 11.5% to $1.962 billion. While sales growth was strong, a slowing domestic economy negatively impacted some product lines, leading to a 4.5% decline in core sales volume. However, aggressive cost cutting measures helped boost earnings per share by 12.5% for the quarter.
Danaher Corporation announced record results for the first quarter of 2001 with net earnings of $82.6 million, a 15% increase over the same period in 2000. Diluted earnings per share were $0.56, up 14% from 2000. Sales increased 16% to $1,005.3 million due to acquisitions. While core volume declined in the tools and components segment due to a weak domestic economy, cost containment measures helped drive record operating profit. The company expects continued outperformance in 2001 despite economic uncertainty.
- Danaher Corporation reported record results for the fourth quarter and full year 2002, with net earnings of $161.7 million and $290.4 million respectively.
- Fourth quarter sales increased 39% to $1.275 billion compared to $918.9 million in 2001. Full year sales grew 21% to $4.577 billion.
- The strong results were driven by acquisitions and 3.5% core volume growth, although the tools and components segment declined slightly.
Danaher Corporation announced its third quarter 2002 results, reporting a 32% increase in net earnings to $116.0 million compared to third quarter 2001. Diluted earnings per share increased 25% year-over-year to $0.74. Total sales for the quarter grew 28% to $1,151.7 million, driven primarily by acquisitions completed in the first quarter of 2002. For the first nine months of 2002, net earnings were $128.7 million which included a $173.8 million one-time non-cash charge related to goodwill impairment. Excluding this charge, nine month net earnings were up 14% to $302.4 million compared to the same period in 2001.
Danaher Corporation announced its second quarter 2002 results, with net earnings of $103.7 million, a 10% increase over the second quarter of 2001. Earnings per share increased 5% to $0.66. Sales for the quarter increased 20% to $1.146 billion due primarily to recent acquisitions. For the first six months of 2002, net earnings were $12.7 million after a one-time $173.8 million goodwill impairment charge, but were up 5% excluding this charge at $186.4 million, with sales up 10% to $2.15 billion. The CEO stated they were pleased with the results and optimistic about continued improvement for the rest of the year.
Danaher Corporation announced its first quarter 2022 results. Net earnings were $82.7 million, comparable to the previous year's results. However, after adopting a new accounting standard that eliminated goodwill amortization, earnings per share fell 14% compared to the previous year. The company also recorded a $173.8 million charge related to goodwill impairment in some business units. Total sales were relatively flat at $1,004.2 million. The CEO commented that while core volumes declined 15% due to economic challenges, the company has seen signs of stability in revenues and gives a more positive outlook for the rest of the year.
Danaher Corporation provided a document summarizing its selling, general and administrative costs, operating profit, and free cash flow for the quarter and year ended December 31, 2003. Some key highlights include:
- Total company revenue for the quarter increased 16.7% to $1.49 billion compared to the same quarter last year.
- Operating profit before special credits for the total company was $239.6 million for the quarter, up 20.1% from the prior year.
- Free cash flow for the year was $781.2 million, up 21.1% from 2002.
Danaher Corporation reported record results for the fourth quarter and full year 2003. Net earnings for Q4 2003 were $169.9 million, or $1.06 per share, compared to $161.7 million, or $1.03 per share for Q4 2002. For the full year, net earnings were $536.8 million or $3.37 per share compared to $290.4 million or $1.88 per share for 2002. Sales increased 17% in Q4 2003 to $1.49 billion and grew 16% for the full year to $5.29 billion. The company experienced strong growth in both its process/environmental controls and tools/components segments.
This document from Danaher Corporation provides supplemental financial information including free cash flow and debt ratios for quarters ending in March, June, and September 2003 as well as year-to-date figures. Free cash flow is defined as operating cash flow minus capital expenditures and is a measure of available cash. Debt ratios including debt-to-total capital and net debt-to-total capital are also provided to show Danaher's leverage over time. Management believes these metrics provide useful information to investors and help determine borrowing capacity.
Danaher Corporation announced record third quarter results for 2003, with net earnings of $138.6 million, a 19% increase over the previous year. Diluted earnings per share were $0.87, an increase of 18% from 2002. Sales increased 14% to $1.309 billion. For the first nine months of 2003, net earnings were $366.9 million, a 21% increase over the previous year. The company's CEO stated that they achieved strong earnings growth despite a challenging economy, and that organic growth remains a priority along with cost reductions to fund growth opportunities.
This document from Danaher Corporation provides supplemental financial information including free cash flows, debt to total capital ratios, and net debt to total capital ratios for quarters ending in March and June of 2002 and 2003. Free cash flow increased from the prior year periods, while debt to total capital and net debt to total capital ratios decreased from the end of 2002 to the end of June 2003 due to an increase in cash and equity and a decrease in total debt. Management uses these metrics to evaluate the company's ability to generate cash, leverage over time, and access additional borrowing.
3. GENWORTH FINANCIAL, INC.
1Q 2007 FINANCIAL SUPPLEMENT
Dear Investor,
You will note that this first quarter supplement has some new disclosures in an effort to provide additional transparency into our financial trends. The new
disclosures are: (1) balance sheets by segment, (2) loans in default and claims for our international mortgage insurance business, (3) U.S. Mortgage Insurance loan
portfolio information, and (4) U.S. Mortgage Insurance primary insurance in-force and risk in-force by year of policy origination.
In addition, a reminder that our group life and health insurance business is now reported as a discontinued operation and is no longer included in our net operating
income. The sale of this business is expected to close during the second quarter of 2007.
Once again, thank you for your continued interest in Genworth Financial and please feel free to call one of us with any questions or comments.
Regards,
Alicia Charity
Vice President
Investor Relations
804-662-2248
Linnea Olsen
Director
Investor Relations
804-662-2536
3
4. GENWORTH FINANCIAL, INC.
1Q 2007 FINANCIAL SUPPLEMENT
Use of Non-GAAP Measures
This financial supplement includes the non-GAAP(1) financial measure entitled “net operating income.” The company defines net operating income as net income
from continuing operations, excluding after-tax net investment gains (losses), net of taxes and other adjustments, changes in accounting principles and infrequent or
unusual non-operating items. There were no infrequent or unusual non-operating items excluded from net operating income for the periods presented in this financial
supplement other than $14 million after-tax of reorganization related expenses recorded in the first quarter of 2007.
Management believes that analysis of net operating income enhances understanding and comparability of performance by highlighting underlying business activity
and profitability drivers. However, net operating income should not be viewed as a substitute for GAAP net income. In addition, the company’s definition of net operating
income may differ from the definitions used by other companies. The table on page 7 of this report provides a reconciliation of net income to net operating income (as
defined above) for the three months ended March 31, 2007 and 2006.
This financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting
underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 56 through 60 of this financial supplement.
(1) U.S. Generally Accepted Accounting Principles
4