TRW 2005 Annual Report

Download 2005: Annual Report | 10K

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Financial Highlights (In $ millions, except where noted)	Years Ended December 31

Select Income Statement Items:	2005		2004


Sales	12,643		12,011

Operating income	553	^a	580	^a
Operating income as a % of sales	4.4	%	4.8	%

Net interest and securitization expense	231		252
Debt retirement expenses	7	^b	173	^b

Net earnings	204		29
Net earnings excluding debt retirement expenses and one-time benefits	176	^b,c	173



Common Stock Per Share Data:

Weighted average diluted shares	102.3		100.5
Net earnings per diluted share	1.99		0.29
Net earnings excluding debt retirement expenses and one-time benefits per diluted share	1.72	^b,c	1.72	^b


Capital Structure/Cash Flow:

Cash and marketable securities	676		809
Gross debt	3,236		3,181
Net debt (gross debt less cash and marketable securities)	2,560		2,372
Net debt impact from Dalphimetal acquisition	244	^d	—
Net debt excluding impact of Dalphimetal acquisition	2,316		2,372
Capital expenditures	503		493
Net cash provided by operating activities	502		787


^a Operating income includes restructuring and asset impairment expenses of $107 million in 2005 and $38 million in 2004. ^b See the Reconciliation Section after the Report on Form 10-K herein for detail of the components included in debt retirement expenses and a reconciliation to the closest GAAP measurement. ^c 2005 one-time benefits include $18 million for adjustment to reserves for litigation and $17 million for a tax law change in Poland. ^d Reflects Dalphimetal transaction cost of $140.5 million plus year-end debt of $110.9 million less year-end cash of $7.1 million.



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TRW Automotive Holdings Corp.

2005 Annual Report

2 of 11

Financial Highlights