2005 ANNUAL REPORT Financial Highlights
2005 ANNUAL REPORT Financial Highlights (Thousands of Dollars and Shares Except Per Share Data) 2005 2004 2003 2002 2001 For The Year Net revenues $ 3,087,627 2,997,510 3,138,657 2,816,230 2,856,339 Operating profit $ 310,521 293,012 344,616 219,291 211,330 Net earnings (loss) $ 212,075 195,977 157,664 ( 170,674 ) 59,732 EBITDA Earnings before cumulative effect of accounting change $ 212,075 195,977 175,015 75,058 60,798 Interest expense $ 30,537 31,698 52,462 77,499 103,688 Income taxes $ 98,838 64,111 69,049 29,030 35,401 Depreciation and amortization $ 180,132 146,180 164,123 183,838 225,899 EBITDA (1) $ 521,582 437,966 460,649 365,425 425,786 Cash provided by operating activities $ 496,624 358,506 454,155 473,139 372,475 Cash utilized by investing activities $ 120,671 84,967 64,879 62,314 57,779 Weighted average number of common shares outstanding Basic 178,303 176,540 173,748 172,720 172,131 Diluted 197,436 196,048 190,058 185,062 184,592 Per Common Share Net earnings before cumulative effect of accounting change Basic $ 1.19 1.11 1.01 .43 .35 Diluted $ 1.09 .96 .94 .43 .33 Cash dividends declared $ .36 .24 .12 .12 .12 Shareholders’ equity $ 9.69 9.25 8.01 6.88 7.82 At Year End Shareholders’ equity $ 1,723,476 1,639,724 1,405,240 1,191,366 1,352,864 Total assets $ 3,301,143 3,240,660 3,163,376 3,142,881 3,368,979 Long-term debt, including current portions $ 528,389 626,822 688,204 1,059,115 1,167,953 Debt to capitalization ratio .24 .28 .34 .48 .47 (1) EBITDA (earnings before interest, taxes, depreciation and amortization) represents net earnings (loss) before cumulative effect of accounting change, excluding interest expense, income taxes, depreciation and amortization.
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