Locker Inc. Liquidity Financing Activities • Net cash used was $181 million in 2012 as compared with $178 million in 2011 • Repurchased 4,000,161 shares of its common stock in 2012 for $129 million • Declared and paid dividends totaling $109 million and $101 million in 2012 and 2011 • Representing a quarterly rate of $0.18 and $0.165 per share in 2012 and 2011 • Received proceeds common stock and treasury stock, 2012 and 2011, $48 and $22 million • Recorded excess tax benefits compensation
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Lockheed Martin, Fiscal Year 2012 Donna K Falkenburg Professor Susan Lightweis Accounting 206 – Accounting II 6/02/2013 Lockheed Martin is a publicly traded, global security and aerospace company formed in 1995. They are principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. They are also known to provide a broad range of management, engineering, technical, scientific, logistic, and information systems
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Polaris Industries, Inc. RATIOS Liquidity Polaris Current Ratios Current Ratio 2011: $878,676/$615,531 = 1.43 Current Ratio 2010: $808,145/$584,210 = 1.38 Current Ratio 2009: $491,500/$343,074 = 1.43 Debt to Assets Ratio 2011: $727,968/$1,228,024 = 0.59 2010: $690,656/$1,061,647 = 0.65 Profitability Return on Sales 2011: $227,575/$2,656,949 = $0.08 2010: $147,138/$1,991,139 = $0.07 2009: $101,017/$1,565,887 = $0.06 Growth 5 yr. annual growth – 13.35% 5 yr. revenue growth – 9.91%
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wants the company to issue a $150 billion buyback of its stock, believe the company to be extremely undervalued, Icahn, who considers Cook a good CEO, projects Apple’s stock can rise to more than $625 if it buys back shares. The catalyst would be a significant reduction in the share count, boosting EPS. Assuming moderate earnings growth, Icahn thinks the stock could return to its all-time high near $700. Icahn also wants Apple to borrow $150 billion at a 3 percent interest rate to fund the purchases
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Subject: Memorandum- Cost of Capital and Capital Structure Date: I. Cost of Common Stock The cost of common stock estimated varied widely between the three methods used. Under the CAPM approach, UPS had the lowest cost because it has the lowest beta coefficient, according to Value Line. Conversely, AAWW had the highest cost of common stock because its beta coefficient is almost twice that of UPS. Under the DCF approach, UPS and AAWW were swapped with regard to having a higher cost
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The announcement that IBM would repurchase $2.5 billion of its own stock resulted in a price jump of 7% because "stock buybacks are a traditional way for corporations to return excess cash to shareholders without increasing quarterly dividend requirements. These payments are one-time cash distributions, over and above the normal cash dividend amounts, with the shares normally repurchased in open market transactions. In fact, in recent years, share repurchases have returned more cash to shareholders
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and revenue recognition practices may be symptoms of a similar problem reoccurring in the future, even if this loan is granted. Analysis of the Case • Assumption: Hampton is a resilient machine tool manufacturer which owns majority of the market share in its industry compared to competitors, currently operates in a recovering to thriving economy and also enjoys the business of pretty stable, trustworthy clients who are mainly in the automobile and defense industry in the St. Louis area. Judging
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Chief Financial Officer, Susan Collyns, was about to announce near-record profits of over $6 million for the end of the second quarter of 2007. However, despite these strong results the share price had declined 10% during the month of June as a result of industry pressures and the Company was considering a share repurchase program that would require the company to change its financial structure through the use of debt financing. This would represent a marked change for the company, which has avoided putting
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traded company in the United States and producer of metal products, has just changed the way that they account for share repurchases. The issue at hand is whether this accounting change represents a correction of an error or a change in accounting principle. In addition, if Trojan were required to issue financial statements in conformity with IFRSs, would Trojan’s accounting for its share retirements be impacted? By definition, ASC 250-10-20 defines an error as “mistakes in the application of generally
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The number of share repurchases by AutoZone during that period of time has also been consistent with the stock price as it has increased steadily. The ROIC has also mainly increased over the past five years. A share repurchase is a company buying back its own stocks from the market. It is basically a company using its cash to buy its own shares and invest in itself. By repurchasing its own shares a company is able to enhance its earnings per share by reducing the number of shares outstanding and
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