International Paper (IP) FY2012 results: revenue $21.9 billion, down 16.1% on the year
International Paper Co. (IP) reported revenue of $21.9 billion for fiscal 2012, the year ended 31 December 2012, down 16.1% on the year before. Net income was $794 million, down 39.9%, and diluted earnings per share $1.80. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$21.9 billion
-16.1% on the year
FY2007FY2012
Operating margin
8.8%
8.5% a year earlier
FY2007FY2012
Net income
$794 million
-39.9% on the year
FY2007FY2012
Diluted EPS
$1.80
-40.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
21,852
26,034
25,179
-16.1%
Cost of revenue
n/a
n/a
18,482
Gross profit
n/a
7,074
6,697
Gross margin
n/a
27.2%
26.6%
Selling, general and administrative
1,674
1,887
1,930
-11.3%
Operating income
1,933
2,216
1,686
-12.8%
Operating margin
8.8%
8.5%
6.7%
Interest expense
743
596
643
+24.7%
Pre-tax income
967
1,458
822
-33.7%
Income tax
306
311
221
-1.6%
Effective tax rate
31.6%
21.3%
26.9%
Net income
794
1,322
691
-39.9%
Net margin
3.6%
5.1%
2.7%
Diluted EPS
$1.80
$3.03
$1.59
-40.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,967
2,675
1,631
+10.9%
Capital expenditure
1,383
1,159
775
+19.3%
Free cash flow
1,584
1,516
856
+4.5%
Free cash flow margin
7.2%
5.8%
3.4%
Cash from investing
-4,858
-1,487
-834
Cash from financing
-795
742
-588
Depreciation and amortisation
1,444
1,295
1,427
+11.5%
Buybacks
35.0
30.0
26.0
+16.7%
Dividends paid
476
427
175
+11.5%
Dividend per share
$1.09
$0.97
$0.40
+11.5%
Diluted shares, weighted
440m
437m
434m
+0.7%
Shares outstanding at period end
440m
439m
439m
+0.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,304
6,645
6,875
-5.1%
Non-controlling interest
332
340
250
-2.4%
Debt
12,176
9,908
8,671
+22.9%
Other liabilities
13,341
10,100
9,572
+32.1%
Total liabilities and equity
32,153
26,993
25,368
+19.1%
Fixed assets
13,949
11,817
12,002
+18.0%
Goodwill
4,315
2,346
2,308
+83.9%
Intangible assets
n/a
n/a
261
Investments
887
657
1,133
+35.0%
Cash and equivalents
1,302
3,994
2,073
-67.4%
Inventory
2,730
2,320
2,347
+17.7%
Other assets
8,970
5,859
5,244
+53.1%
Total assets
32,153
26,993
25,368
+19.1%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.