Performance Analysis

Total Page：16

File Type：pdf, Size：1020Kb

PERFORMANCE ANALYSIS WHICH COMPANIES DOES THE COMMITTEE USE TO COMPARE OUR PERFORMANCE? The table below shows the list of performance peer group companies; checkmarks in the columns under Textron’s manufacturing segments mean that the peer company competes in some way, or operates in similar industries, with that segment. 2015 Performance Peer Group 2014 Revenue Company Name ($ in billions) Bell Aviation Industrial Systems The Boeing Company $90.8 3 3 3 United Technologies Corporation 65.1 3 3 3 3 Lockheed Martin Corporation 45.6 3 3 Johnson Controls Inc. 42.8 3 Honeywell International Inc. 40.3 3 3 3 3 Deere & Company 36.1 3 General Dynamics Corporation 30.9 3 3 3 Northrop Grumman Corporation 24.0 3 Raytheon Company 22.8 3 Eaton Corporation Plc 22.6 3 3 3 3 Ingersoll-Rand Plc 12.9 3 L-3 Communications Holdings Inc. 12.1 3 3 Spirit AeroSystems Holdings, Inc. 6.8 3 3 Harris Corporation 5.0 3 Rockwell Collins Inc. 5.0 3 3 3 Textron Inc. 13.9 Three companies were removed from the 2014 performance peer group due to corporate transactions or lack of publicly available information: Alliant Techsystems Inc., Exelis Inc., and Kubota Corp. The Committee added Harris Corporation, the acquirer of Exelis Inc., to the performance peer group for 2015. The 2014 performance peer group was used for the Committee’s annual incentive compensation and performance analysis. WHAT WERE OUR PERFORMANCE GOALS? Performance goals for the 2015 annual incentive compensation program and PSUs under the long-term incentive compensation program largely focused on profitability and cash flow with an additional goal related to workforce diversity. The profitability target focused executives on delivery of segment profit in each of our segments.The cash flow target focused executives on improving operational efficiency and sustaining the strength of the balance sheet.The diversity metric focused management on having a diverse employee profile. In addition, PSUs are subject to a discretionaryTSR modifier that can decrease, but not increase, the payout by as much as 40% based on how Textron’s 3-year TSR compares to our performance peer group. 27 TEXTRON 2016 PROXY STATEMENT.

Copy Link

Recommended publications

U.S. Corporate Scores 2018
01 DISCLOSURE INSIGHT ACTION U.S. CORPORATE SCORES 2018 02 CORPORATE DISCLOSURE TO INVESTORS IN NORTH AMERICA 124 9 28 510 63 192 CONTENTS 03 04 CDP scoring methodology 2018 06 The A-List: North America 08 Corporate scores 34 Appendix I: CDP Activity classification system (cdp-acs) 40 Appendix II: Investor Members and Signatories 46 Appendix III: CDP Supply Chain Members Important Notice The contents of this report may be used by anyone providing acknowledgment is given to CDP. This does not represent a license to repackage or resell any of the data reported to CDP or the contributing authors and presented in this report. If you intend to repackage or resell any of the contents of this report, you need to obtain express permission from CDP before doing so. CDP has prepared the data and analysis in this report based on responses to the CDP 2018 information request. No representation or warranty (express or implied) is given by CDP as to the accuracy or completeness of the information and opinions contained in this report. You should not act upon the information contained in this publication without obtaining specific professional advice. To the extent permitted by law, CDP does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it. All information and views expressed herein by CDP are based on their judgment at the time of this report and are subject to change without notice due to economic, political, industry and firm-specific factors.
[Show full text]
Fourth Quarter Earnings Release
Eaton Communications Eaton Center Cleveland, OH 44122 tel: +1 (440) 523-4343 [email protected] Date February 2, 2021 For Release Immediately Contact Margaret Hagan, Media Relations, +1 (440) 523-4343 Yan Jin, Investor Relations, +1 (440) 523-7558 Eaton Reports Fourth Quarter Earnings Per Share of $1.18 Adjusted Earnings Per Share of $1.28 for the Fourth Quarter Full Year Free Cash Flow $2.6 Billion, at the Top of Guidance Range Starting in 2021, Adjusted Earnings Per Share Will Be Revised to Add Back Amortization of Intangibles Adjusted Earnings Per Share for 2021 Expected to be Between $5.40 and $5.80 DUBLIN, Ireland … Power management company Eaton Corporation plc (NYSE:ETN) today announced that earnings per share were $1.18 for the fourth quarter of 2020. Excluding charges of $0.06 per share related to acquisitions and divestitures and $0.04 per share related to a multi-year restructuring program, adjusted earnings per share were $1.28. Sales in the fourth quarter of 2020 were $4.7 billion. Organic sales were down 5 percent, and the divestitures of the Lighting and Automotive Fluid Conveyance businesses reduced sales by 8 percent, partially offset by 2 percent growth from acquisitions. Craig Arnold, Eaton chairman and chief executive officer, said, “Our fourth quarter was stronger than expected, with organic sales down 5 percent, at the high end of our guidance range and up 3 percent over the third quarter. We are pleased with our solid results, as our businesses have managed through the impact of the COVID-19 pandemic well.” “Fourth quarter segment margins were 17.4 percent, reflecting a decremental on lower revenues of 21 percent,” said Arnold.
[Show full text]
For Recruiting and Hiring the Long-Term Unemployed Businesses Succeed When Their Communities Thrive
BEST PRACTICES For Recruiting and Hiring the Long-Term Unemployed Businesses succeed when their communities thrive. We recognize the benefits to our businesses, our economy, and our country of taking advantage of the talent, experience and skills of all Americans, including the long-term unemployed. Yet studies have shown that long-term unemployed job applicants are frequently overlooked and sometimes excluded from job opportunities—even when they may have identical resumes and skills to other candidates. We are committed to inclusive hiring practices and pledge to remove barriers that may prevent qualified long-term unemployed job seekers from applying or being fully considered for jobs at our companies by adopting or building on the following practices: 1. Ensuring that advertising does not discourage or discriminate against unemployed individuals. 2. Reviewing screens or procedures that we use in our recruiting and hiring processes so they do not intentionally or inadvertently disadvantage individuals from being considered for a job based solely on their unemployment status. 3. Reviewing current recruiting practices to ensure that we cast a broad net and encourage all qualified candidates to consider applying, including the long-term unemployed, by taking steps that may include: • Publicizing our commitment that qualified unemployed individuals will not be disadvantaged solely on their unemployment status on our website, in application materials, or in other places where it can be seen by potential applicants; • Interviewing or otherwise considering qualified long-term unemployed individuals; • Training our hiring teams and recruiters to focus on the bona fide occupational requirements and leadership requirements for a given role and not just on an applicant’s current or recent employment status; • Engaging with local and regional entities in order to reach broad segments of the population with relevant skills and experience 4.
[Show full text]
Nanopro® Wixfilters.Com HEAVY-DUTY AIR FILTERS
BALDWIN DONALDSON FLEETGUARD WIX NP PRINCIPAL APPLICATIONS XP BLUE NANOFORCE 42047NP Caterpillar, Deutz PA1615XP DBA5163 AG-Chem, Allis-Chalmers, Case, Clark, ERF World Trucks, Galion, Grove Crane, 42119NP PA1884XP DBA5034 IHC, Iveco World Bus, Hitachi, JCB, Kobelco Loaders and Excavators, Volvo Various Equipment w/ Caterpillar, Cummins, Detroit Diesel, Isuzu, Liebherr, 42128NP PA1894XP DBA5039 Scania, Volvo Engines 42130NP Atlas-Copco, Hough, IHC, Komatsu Equipment PA1706XP DBA5164 42208NP Various HD Equipment + Trucks PA1885XP DBA5046 A-C, Champion, Case, Hino, Hyster, IHC, Iveco, New Holland, Komatsu, 42225NP PA1886XP DBA5041 Liebherr, New Holland, Other 42235NP AG-Chem, Caterpillar, Dynapac, Volvo, Sullair PA2573XP DBA5136 42238NP Caterpillar, Drill Tech, Euclid, Liebherr, Wabco PA2453XP DBA5040 AF899NF 42253NP IHC Trucks, Ag-Chem, Other DBA5028 AF979NF 42258NP Bomag, Case, I/R, Hitachi, Komatsu, Liebherr, Volvo, Terex PA2562XP DBA5042 AF1605NF 42422NP Various HD Trks + Equipment PA1846XP DBA5002 42440NP Caterpillar, Hitachi, Komatsu, K.W. Dart, Wabco PA2363XP DBA5038 AF879NF 42481NP Claas, John Deere, Iveco, Liebherr, M.A.N. Trucks, New Holland, Wirtgen ® 42493NP Agco, Ingersoll-Rand, Joy & Sullair Air Compressors; Ford Trucks PA2518XP DBA5043 NanoPro 42546NP Bomag, Grove, I-R, Joy, Leroi, Iveco, Sullair PA2456XP DBA5049 AF891NF 42680NP Caterpillar PA2384XP DBA5165 HEAVY-DUTY AIR FILTERS 42691NP Autocar, White Trucks PA2326XP DBA5057 AF888NF 42803NP Case, Caterpillar, DAF, John Deere, Hino, Hitachi, Mack, New Holland, Volvo RS3744XP
[Show full text]
Exhibit II ASSESSMENTS LEVIED on INSURANCE CARRIERS and SELF-INSURED EMPLOYERS/FUNDS A
Exhibit II ASSESSMENTS LEVIED ON INSURANCE CARRIERS AND SELF-INSURED EMPLOYERS/FUNDS A. INSURANCE CARRIERS Accident Fund Ins Co $2,565,273.00 Accident Ins Co $522,508.00 ACE INA Group $10,734,161.00 ACIG Insurance Co $586.00 Advantage Workrs Com $15,459.00 Alea Group - U.S. $49,549.00 Allianz of America $641.00 Allmerica Fin P&CCos $51,742.00 Allstate Ins Group $3,912.00 AmCOMP Group $1,848,699.00 Amer Alternative Ins $194,428.00 Amer Hardware Mut $768.00 Amer Intern Grp Inc $18,303,773.00 Amer Safety Cas Ins $10,773.00 Amerisafe Ins Group $3,038,462.00 Amerisure Companies $1,374,358.00 AmGUARD Ins Co $104,861.00 Arch Insurance Co $394,295.00 Argonaut Great Cntrl $44,729.00 Argonaut Ins Co $137,753.00 Argonaut-Midwest Ins $78,260.00 Assoc Casualty Ins $397,348.00 Atlantic Mut Cos $294,770.00 Auto-Owners Ins Grp $2,370,743.00 BancInsure Inc $4,352.00 Benchmark Ins Co $220,249.00 Berkley Ins of Carolina $373,637.00 Bituminous Cas Corp $809,337.00 Bituminous Fire & Mar $214,080.00 Bridgefield Cas Ins $703,821.00 Brotherhood Mut Ins $141,313.00 Builders Ins Group $42,011.00 Builders Mut Ins Co $1,790,636.00 Canal Group $256,699.00 Capital City Ins Co $6,036,029.00 Carolina Cas Ins Co $59,995.00 Central Ins Cos $67,527.00 Centre Ins Co $7,343.00 Chubb Grp of Ins Cos $1,036,217.00 Church Mut Ins Co $184,942.00 Cincinnati Ins Cos $876,985.00 Clarendon Nat Ins Co $959,644.00 CNA Ins Companies $7,743,127.00 Colony Specialty Ins $32,489.00 Companion P & C Grp $8,191,078.00 Coregis Ins Co $203,937.00 Crum & Forster Indemnity $4,601.00 CUMIS Ins
[Show full text]
Eaton Reports Strong First Quarter 2021 Results, Raises 2021 Outlook
Eaton Communications Eaton Center Cleveland, OH 44122 tel: +1 (440) 523-4343 [email protected] Date May 4, 2021 For Release Immediately Contact Margaret Hagan, Media Relations, +1 (440) 523-4343 Yan Jin, Investor Relations, +1 (440) 523-7558 Eaton Reports Strong First Quarter 2021 Results, Raises 2021 Outlook Eaton Reports First Quarter Earnings Per Share of $1.14, First Quarter Record Adjusted Earnings Per Share of $1.44, Up 15 Percent Over the First Quarter of 2020 First Quarter Operating Cash Flow of $260 Million; Adjusted Operating Cash Flow of $460 Million, Up 42 Percent Over the First Quarter of 2020 First Quarter Segment Margin of 17.7%, 190 Basis Points Favorable to the First Quarter of 2020 and a First Quarter Record Raising Adjusted Earnings Per Share Guidance for 2021 to $6.10 at the Midpoint, Up 24 Percent Over 2020 DUBLIN, Ireland … Power management company Eaton Corporation plc (NYSE:ETN) today announced that earnings per share were $1.14 for the first quarter of 2021. Excluding charges of $0.18 per share related to intangible amortization, $0.09 per share related to acquisitions and divestitures, and $0.03 per share related to a multi-year restructuring program, adjusted earnings per share were a first quarter record of $1.44, up 15 percent over the first quarter of 2020. Sales in the first quarter of 2021 were $4.7 billion, down 2 percent from the first quarter of 2020. The divestiture of the Lighting business reduced sales by 5½ percent, which was partially offset by positive currency translation of 2 percent, 1 percent growth from acquisitions, and organic growth of ½ percent.
[Show full text]
Fund Semi-Annual Report
Semiannual Report June 30, 2019 (Unaudited) NVIT S&P 500 Index Fund Contents Message to Investors 1 Fund Overview 3 Financial Statements 13 Notes to Financial Statements 19 Supplemental Information 33 Management Information 36 Market Index Definitions 41 SAR-SPX 8/19 Nationwide Funds® Commentary in this report is provided by the portfolio manager(s) of each Fund as of the date of this report and is subject to change at any time based on market or other conditions. Third-party information has been obtained from sources that Nationwide Fund Advisors (NFA), the investment adviser to the Funds, deems reliable. Portfolio composition is accurate as of the date of this report and is subject to change at any time and without notice. NFA, one of its affiliated advisers or its employees may hold a position in the securities named in this report. This report and the holdings provided are for informational purposes only and are not intended to be relied on as investment advice. Investors should work with their financial professional to discuss their specific situation. Statement Regarding Availability of Quarterly Portfolio Holdings The Trust files complete schedules of portfolio holdings for each Fund with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT. Additionally, the Trust files a schedule of portfolio holdings monthly for the NVIT Government Money Market Fund on Form N-MFP. Forms N-PORT and Forms N-MFP are available on the SEC’s website at sec.gov. Forms N-PORT and Forms N-MFP may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC, and information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.
[Show full text]
Eaton Axle Company, Manufacturing Conventional and Internal Gear Truck Axles 1920 - Eaton Axle Company Builds a New $1 Million Plant in Cleveland, OH
Eaton Differentials Owner’s Manual NoSPIN® Revised 04/20/2020 Eaton Differentials Install Manual Table of Contents Preface...................................................................... 2 History....................................................................... 2 Warranty.................................................................... 4 Detroit Locker / NoSPIN............................................ 6 Detroit Truetrac.......................................................... 10 Eaton Posi..................................................................14 Eaton ELocker............................................................ 18 Safety........................................................................ 23 Lubrication................................................................ 26 Installation................................................................. 28 Preface Eaton has been a leading manufacturer of premium quality OEM, military and aftermarket traction enhancing and performance differentials for more than 80 years. Each step in our manufacturing process, from design to final assembly and inspection, reflects the highest industry quality and engineering standards. This manual is intended to help provide safe and trouble- free operation for the life of the product. General Information Telephone: 800-328-3850 Website: eatonperformance.com Office Hours: 7:30 a.m. - 5:30 p.m. (ET) Mon. - Thu. 7:30 a.m. - 4:30 p.m. (ET) Fri. Automotive Focused History of Eaton 1900 - Viggo Torbensen develops and patents
[Show full text]
Doing Business with Textron Aviation
Doing Business with Textron Aviation FROM: Textron Aviation RE: Becoming a Supplier to Textron Aviation Dear Potential Supplier: Thank you for your interest in becoming a supplier to Textron Aviation. Textron Aviation Inc. is the leading general aviation authority and home to the iconic Beechcraft, Cessna and Hawker brands which account for more than half of all general aviation aircraft flying. What suppliers should do prior to requesting a meeting with Textron Aviation Many questions can be answered prior to contacting a Textron Aviation team member. Before attempting to schedule a visit, or asking to quote on any packages, potential suppliers must review the information below and provide the necessary information where requested, prior to contacting any Supply Chain personnel. Visit http://www.beechcraft.com/supply_chain/diversity/ to review Supply Chain Supplier Diversity Visit and review info provided at http://www.beechcraft.com/supply_chain/potential_supplier/. From this page, enter the requested company information using the “Potential Supplier Database” link found at http://www.beechcraft.com/supply_chain/potential_supplier/potential_supplier.aspx To understand various requirements/expectations of suppliers, Textron Aviation processes/policies, etc…, browse the various links and understand the information provided at the following: http://www.beechcraft.com/supply_chain/ and https://supplier.cessna.com Visit https://supplier.cessna.com/cgi-bin/icoe/index.pl for information regarding the Indirect Center of Excellence (ICOE) who purchase all products and services necessary for business operation, but are not components of the final product (aircraft, helicopter, golf car). ICOE purchases for Bell Helicopter, Cessna Aircraft Company, Beechcraft Corporation, E-Z-GO, Greenlee, Jacobsen, Kautex, TRU, and Textron Defense Systems and also manages several enterprise agreements for Textron North America.
[Show full text]
94756-2 Amended Petition for Review.Pdf
FILED SUPREME COURT STATE OF WASHINGTON 10/11/2017 10:50 AM BY SUSAN L. CARLSON CLERK No. 94756-2 SUPREME COURT OF THE STATE OF WASHINGTON No. 34640-4-III COURT OF APPEALS, DIVISION III OF THE STATE OF WASHINGTON __________________________________________________ ANASTASIA FORTSON-KEMMERER, Petitioner, v. ALLSTATE INSURANCE COMPANY, Respondent. __________________________________________________ RESPONDENT ALLSTATE INSURANCE COMPANY’S AMENDED PETITION FOR REVIEW __________________________________________________ Irene M. Hecht, WSBA #11063 Maureen M. Falecki, WSBA #18569 KELLER ROHRBACK L.L.P. 1201 Third Avenue, Suite 3200 Seattle, Washington 98101-3052 Telephone: (206) 623-1900 Facsimile: (206) 623-3384 Attorneys for Respondent Allstate Insurance Company TABLE OF CONTENTS TABLE OF AUTHORITIES………………………………………...ii-iv I. IDENTITY OF MOVING PARTY ............................................. 1 II. COURT OF APPEALS’ DECISION .......................................... 1 III. ISSUES PRESENTED FOR REVIEW ....................................... 1 IV. STATEMENT OF THE CASE ................................................... 2 A. The Accident And Fortson’s Two Lawsuits Against Allstate. .......................................................................... 2 B. The Trial Court Dismisses Fortson II. ............................. 4 C. The Court of Appeals Reversed The Trial Court’s Order. ............................................................................. 6 V. ARGUMENT WHY REVIEW SHOULD BE GRANTED ......... 8 A. The Judicial Doctrine
[Show full text]
My Biography
BIOGRAPHY Thomas Short, P.E. LMSME Design Profit®, Munro & Associates, Inc. With a broad background in engineering, a profound knowledge of computer aided design (CAD) systems, and extensive experience in training and education, Tom Short brings a wealth of experience and innovative ideas to Munro & Associates’ clients. In some 17 years of consulting work, Tom has assisted a variety of companies -- including Chrysler Corp., General Motors Corp., Ford Motor, Tata Motors, Bentley Motors, Land Rover McDonnell Douglas, Boeing, Embraer Air, Alliant Tech Systems, Ingersoll Rand, Grove, Nikon, TRW and Texas Instruments -- in applying Design for Assembly (DFA) and Design for Manufacturability (DFM) principles to products. He also has trained literally thousands of Ford Motor Co. engineers in DFA/DFM concepts. While consulting with Ford Motor Company in 1985, Tom met Munro & Associates’ President Sandy Munro -- where Sandy was first applying DFA principles as the Ford Corporate DFA Coordinator. Tom soon became involved with DFA and he joined Munro & Associates as a senior consultant in 1989. In 1984 Tom founded CommandTrain, Inc of Dearborn, Mich.-based a consulting firm specializing in design for assembly and manufacturing consulting and training at Ford as well as AutoCad, and Inventor solid model consulting and training for a variety of companies. He was a recognized world- wide as an expert in Inventor and has books, published by Goodheart-Willcox, on Inventor and SolidWorks. Tom left CommandTrain in 2000 when it was sold. Prior to this, he was a consultant for McDonnell Douglas from 1982 to 1983. In this position he was responsible for setting up a Unigraphics Training Center in California and developing and organizing the training materials.
[Show full text]
Directors and Leadership Team As of March 1, 2016
Directors and Leadership Team As of March 1, 2016 Directors, Eaton Corporation plc Craig Arnold Michael J. Critelli 1, 4 Linda A. Hill 2, 4 Deborah L. McCoy 1, 4 President and Chief Operating Officer, Chief Executive Officer and President, Professor of Business Administration, Independent consultant. Former Senior Eaton Corporation, a subsidiary of Dossia Services Corporation, Harvard Business School, Cambridge, Vice President, Flight Operations, the company San Francisco, California, a personal Massachusetts Continental Airlines Inc., Houston, Texas, health management systems company a commercial airline Todd M. Bluedorn 1, 3 Arthur E. Johnson 2, 4* 5* 1*, 4 Chief Executive Officer, Lennox Alexander M. Cutler Retired. Former Senior Vice President, Gregory R. Page International Inc., Richardson, Texas, Chairman, Eaton Corporation plc, Corporate Strategic Development, Executive Director, Cargill Incorporated, a global provider of climate control Dublin, Ireland, a power management Lockheed Martin Corporation, Bethesda, Minneapolis, Minnesota, an international solutions for heating, air conditioning company Maryland, a manufacturer of advanced marketer, processor and distributor of and refrigeration markets technology systems, products and services agricultural, food, financial and industrial Richard H. Fearon products and services Christopher M. Connor 2*, 3 Ned C. Lautenbach 2, 4 Vice Chairman and Chief Financial 2, 3 Executive Chairman, The Sherwin- Planning Officer, Eaton Corporation, Retired. Former Partner, Clayton, Dubilier Sandra Pianalto Williams Company, Cleveland, Ohio, a subsidiary of the company & Rice Inc., New York, N.Y., a private Retired. Former President and Chief a global manufacturer of paint, equity investment firm specializing in Executive Officer of the Federal Reserve architectural coatings, industrial Charles E. Golden 2, 3* management buyouts Bank of Cleveland finishes and associated supplies Retired.
[Show full text]