EX-99.1 2 l85028aex99-1.txt EXHIBIT 99.1 1 SUMMARY STATEMENT OF INCOME EXHIBIT 99.1 MARCH 2001
---------------------------------------------------------------------------------------------------------------------------------- CURRENT MONTH YEAR-TO-DATE ------------------------------------------------------------------ ($ MILLIONS) 2001 2000 2001 2000 ---------------------------------------------------------------------------------------------------------------------------------- REVENUE INTEGRATED STEEL $ 237.0 $ 351.7 $ 666.2 $ 957.2 METAL FABRICATION 127.0 159.4 362.6 432.2 LESS: INTERSEGMENT SALES (19.1) (10.8) (39.5) $ (34.3) ---------- ---------- ---------- ---------- TOTAL REVENUE $ 344.9 $ 500.3 $ 989.3 $ 1,355.1 ========== ========== ========== ========== PRETAX RESULTS INTEGRATED STEEL $ (48.6) $ 11.7 $ (146.3) $ (11.3) METAL FABRICATION 3.0 11.7 0.6 22.3 LEADING STEEL TECHNOLOGIES 8.2 2.3 -- 2.7 INTEREST EXPENSE (4.7) (8.3) (13.9) (24.2) CORPORATE AND OTHER 4.9 (0.5) 0.8 (1.8) CHAPTER 11 ADMINISTRATIVE EXPENSES, NET (6.6) -- (15.7) -- SPECIAL CHARGES (42.0) -- (42.0) -- ---------- ---------- ---------- ---------- PRETAX INCOME (LOSS) (85.8) 16.9 (216.5) (12.3) ---------- ---------- ---------- ---------- TAX PROVISION (1.0) (1.1) (3.0) (3.3) ---------- ---------- ---------- ---------- NET INCOME (LOSS) $ (86.8) $ 15.8 $ (219.5) $ (15.6) ---------- ========== ---------- ========== EPS $ (0.84) $ 0.13 $ (2.13) $ (0.18) ========== ========== ========== ==========
-1- The LTV Corporation 2 SUMMARY STATEMENT OF CASH FLOWS EXHIBIT 99.1 MARCH 2001
----------------------------------------------------------------------------------------------------------------------------------- ($ MILLIONS) MONTH YEAR-TO-DATE ----------------------------------------------------------------------------------------------------------------------------------- ACTIVITY INCOME FROM CONTINUING OPERATIONS $ (86.8) $ (219.5) SPECIAL CHARGES 42.0 42.0 CHAPTER 11 ADMINISTRATIVE EXPENSES 6.6 15.7 NONCASH EQUITY (INCOME) LOSS OF JOINT VENTURES (8.4) (0.2) DEPRECIATION AND AMORTIZATION 24.8 72.6 PENSION FUNDING (MORE) LESS THAN EXPENSE 4.4 13.4 OPEB PAYMENTS (MORE) LESS THAN EXPENSE (2.0) (5.9) CHANGES IN RECEIVABLES, INVENTORY AND PAYABLES 27.8 116.1 CHANGES IN OTHER ASSETS AND LIABILITIES (41.3) (30.0) ---------- ---------- OPERATING ACTIVITY (32.9) 4.2 PROPERTY ADDITIONS (7.3) (24.7) INVESTMENTS IN STEEL-RELATED BUSINESSES -- (0.5) ---------- ---------- CHANGE IN CASH AND CASH EQUIVALENTS BEFORE CHANGE IN DEBT (40.2) (21.0) CHANGE IN BORROWINGS -- 1.9 ---------- ---------- CHANGE IN CASH AND CASH EQUIVALENTS (40.2) (19.1) BEGINNING CASH AND CASH EQUIVALENTS 89.5 68.4 ---------- ---------- ENDING CASH AND CASH EQUIALENTS $ 49.3 $ 49.3 ========== ==========
-2- The LTV Corporation 3 SUMMARY BALANCE SHEET EXHIBIT 99.1 MARCH 2001
------------------------------------------------------------------------------------------------------------------------- MARCH 31, DECEMBER 31, ------------------------------------------------ ($ MILLIONS) 2001 2000 ------------------------------------------------------------------------------------------------------------------------- CURRENT ASSETS CASH AND CASH EQUIVALENTS $ 49.3 $ 68.4 RECEIVABLES 546.4 494.8 INVENTORIES 836.1 970.9 PREPAID EXPENSES, DEPOSITS AND OTHER 32.4 24.9 ----------- ----------- 1,464.2 1,559.0 ----------- ----------- NONCURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT 3,199.2 3,248.7 INVESTMENTS IN AFFILIATES 106.3 106.0 OTHER NONCURRENT ASSETS 427.2 444.4 ----------- ----------- 3,732.7 3,799.1 ----------- ----------- TOTAL ASSETS $ 5,196.9 $ 5,358.1 =========== =========== CURRENT LIABILITIES ACCOUNTS PAYABLE $ 104.2 $ 45.4 ACCRUED EMPLOYEE COMPENSATION 100.2 55.9 ACCRUED LIABILITIES AND OTHER 98.4 53.1 LONG TERM SECURED DEBT IN DEFAULT 669.3 667.4 ----------- ----------- 972.1 821.8 ----------- ----------- NONCURRENT LIABILITIES POSTEMPLOYMENT HEALTH CARE BENEFITS 45.5 45.6 PENSION BENEFITS 3.7 4.1 OTHER EMPLOYEE BENEFITS 1.5 1.3 LONG-TERM DEBT -- -- OTHER 60.6 50.7 ----------- ----------- 111.3 101.7 ----------- ----------- LIABILITIES SUBJECT TO COMPROMISE 3,763.1 3,858.1 ----------- ----------- TOTAL SHAREHOLDERS' EQUITY 350.4 576.5 ----------- ----------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,196.9 $ 5,358.1 =========== ===========
-3- The LTV Corporation