EX-99.1 3 l90579aex99-1.txt EXHIBIT 99.1 SUMMARY STATEMENT OF INCOME EXHIBIT 99.1 NOVEMBER 2001
---------------------------------------------------------------------------------------------------------------- CURRENT MONTH YEAR-TO-DATE ------------------------- ---------------------------- ($ MILLIONS) 2001 2000 2001 2000 ---------------------------------------------------------------------------------------------------------------- REVENUE INTEGRATED STEEL $ 170.7 $ 243.7 $ 2,243.4 $ 3,186.7 METAL FABRICATION 76.1 130.2 1,207.0 1,585.5 LESS: INTERSEGMENT SALES (12.9) (13.1) (145.2) (127.9) --------- --------- --------- --------- TOTAL REVENUE $ 233.9 $ 360.8 $ 3,305.2 $ 4,644.3 ========= ========= ========= ========= PRETAX RESULTS INTEGRATED STEEL $ (48.8) $ (35.5) $ (526.4) $ (92.9) METAL FABRICATION 0.3 5.6 11.6 74.4 STEEL TECHNOLOGIES -- (4.0) -- (19.6) INTEREST EXPENSE (3.2) (8.7) (51.9) (90.0) CORPORATE AND OTHER (2.5) (3.0) (16.2) (25.8) LOSS ON SALE OF INVESTMENT IN AFFILIATE -- -- -- (83.7) CHAP. 11 ADMINISTRATIVE EXPENSES, NET (3.6) -- (41.9) -- SPECIAL CHARGES -- -- (228.3) (207.3) --------- --------- --------- --------- PRETAX INCOME (LOSS) (57.8) (45.6) (853.1) (444.9) --------- --------- --------- --------- TAX (PROVISION) CREDIT (1.0) (0.6) (11.0) (10.9) --------- --------- --------- --------- INCOME (LOSS) BEFORE EXTRAORDINARY LOSS $ (58.8) $ (46.2) $ (864.1) $ (455.8) EXTRAORDINARY LOSS -- -- (4.1) -- --------- --------- --------- --------- NET INCOME (LOSS) $ (58.8) $ (46.2) $ (868.2) $ (455.8) ========= ========= ========= ========= EPS $ (0.57) $ (0.47) $ (8.37) $ (4.63) ========= ========= ========= =========
-1- The LTV Corporation SUMMARY STATEMENT OF CASH FLOWS EXHIBIT 99.1 NOVEMBER 2001
------------------------------------------------------------------------------ YEAR-TO-DATE ------------ ($ MILLIONS) MONTH ACTUAL ------------------------------------------------------------- --------- ACTIVITY INCOME FROM CONTINUING OPERATIONS $(58.8) $(868.2) EXTRAORDINARY LOSS -- 4.1 SPECIAL CHARGES -- 228.3 DEPRECIATION AND AMORTIZATION 20.3 262.5 PENSION FUNDING (MORE) LESS THAN EXPENSE 4.3 50.4 OPEB PAYMENTS (MORE) LESS THAN EXPENSE (6.9) (30.6) VEBA RECOVERIES 5.4 39.6 CHANGES IN RECEIVABLES, INVENTORY AND PAYABLES 103.0 536.8 CHANGES IN OTHER ASSETS AND LIABILITIES (45.0) (109.2) ------ ------ OPERATING ACTIVITY 22.3 113.7 PROPERTY ADDITIONS (9.0) (75.6) INVESTMENTS IN STEEL-RELATED BUSINESSES (1.0) (15.7) PROCEEDS FROM SALE OF BUSINESSES -- 131.0 ------ ------ CHANGE IN CASH AND CASH EQUIVALENTS BEFORE CHANGE IN DEBT 12.3 153.4 CHANGE IN BORROWINGS (8.1) (114.6) ------ ------ CHANGE IN CASH AND CASH EQUIVALENTS 4.2 38.8 BEGINNING CASH AND CASH EQUIVALENTS 103.0 68.4 ------ ------ ENDING CASH AND CASH EQUIVALENTS $107.2 $107.2 ====== ======
-2- The LTV Corporation SUMMARY BALANCE SHEET EXHIBIT 99.1 NOVEMBER 2001
-------------------------------------------------------------------------------- November 30, December 31, ($ MILLIONS) 2001 2000 -------------------------------------------------------------------------------- CURRENT ASSETS CASH AND CASH EQUIVALENTS $ 107.2 $ 68.4 RECEIVABLES 297.9 494.8 INVENTORIES 629.5 970.9 PREPAID EXPENSES, DEPOSITS AND OTHER 71.7 24.9 -------- -------- 1,106.3 1,559.0 -------- -------- NONCURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT 2,974.4 3,248.7 INVESTMENTS IN AFFILIATES 98.4 106.0 OTHER NONCURRENT ASSETS 302.4 444.4 -------- -------- 3,375.2 3,799.1 -------- -------- TOTAL ASSETS $4,481.5 $5,358.1 ======== ======== CURRENT LIABILITIES ACCOUNTS PAYABLE $ 129.4 $ 45.4 ACCRUED EMPLOYEE COMPENSATION 73.7 55.9 ACCRUED LIABILITIES AND OTHER 110.2 53.1 CURRENT DEBT 549.6 667.4 -------- -------- 862.9 821.8 -------- -------- NONCURRENT LIABILITIES POSTEMPLOYMENT HEALTH CARE BENEFITS 45.5 45.6 PENSION BENEFITS 3.4 4.1 OTHER EMPLOYEE BENEFITS 2.3 1.3 OTHER 34.0 50.7 -------- -------- 85.2 101.7 -------- -------- LIABILITIES SUBJECT TO COMPROMISE 3,806.1 3,858.1 TOTAL SHAREHOLDERS' EQUITY (DEFICIT) (272.7) 576.5 -------- -------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $4,481.5 $5,358.1 ======== ========
-3- The LTV Corporation