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Ou Three- Strat ANNUAL REPORT 2011 Great Our Products Competitive 2011 Annual Report to Shareholders three-pillar Profitable = Cost DELIVERING Growth Structure RESULTS TODAY… strategy Net Sales and Revenues Adjusted Net Income Attributable to Adjusted Diluted Earnings Adjusted Manufacturing In millions of dollars Navistar International Corporation Navistar Per Share Navistar Segment Profit (Unaudited & Non-GAAP) (Unaudited & Non-GAAP) (Unaudited & Non-GAAP) In millions of dollars In millions of dollars $800 $14,000 $400 $5.00 $350 $700 $12,000 $300 $4.00 $600 $10,000 $250 $500 $8,000 $3.00 $200 $400 $6,000 $150 $2.00 $300 $4,000 $100 $200 $1.00 $2,000 $50 $100 Navistar International Corporation 2701 Navistar Drive $0 $0 $0 $0 Lisle, IL 60532 09 10 11 09 10 11 09 10 11 09 10 11 www.navistar.com Financial Summary In millions of dollars (except per share data) 2009 2010 2011 Net Sales and Revenues $11,569 $12,145 $13,958 Net Income Attributable to Navistar International Corporation $320 $223 $1,723 Adjusted Net Income Attributable to Navistar International Corporation (Unaudited & Non-GAAP)1 $202 $223 $402 Diluted Earnings Per Share Attributable to Navistar International Corporation $4.46 $3.05 $22.64 Adjusted Diluted Earnings Per Share (Unaudited & Non-GAAP)1 $2.86 $3.05 $5.28 Manufacturing Segment Profit (Unaudited & Non-GAAP)1, 2 $836 $741 $707 Adjusted Manufacturing Segment Profit (Unaudited & Non-GAAP)1, 2 $707 $741 $882 1See the REG G Non-GAAP Reconciliation, found on the inside back cover, for additional information. 2The Manufacturing segment collectively represents the Company’s Truck, Engine and Parts segments. Stock Performance | Comparison of 5 Year Cumulative Total Return | Assumes Initial Investment of $100 | October 2011 BUILDING 2007 2008 2009 2010 2011 $250 THE FOUNDATION $200 Navistar 227.19 108.62 119.51 173.74 151.71 FOR OUR F U T U R E $150 NASDAQ Composite-Total Returns 114.56 73.21 80.38 93.66 101.24 THROUGH INTEGRATION $100 S&P Construction & Farm 147.07 70.94 98.14 155.45 170.64 $50 07 08 09 10 11 – Navistar – NASDAQ Composite-Total Returns – S&P 500 Construction, Farm Machinery & Heavy Truck Index E Printed on recycled paper NOTES: Data complete through last fiscal year; The comparison assumes $100 was invested on October 31, 2006, in Navistar Common Stock and in each of the indices shown and assumes reinvestment of dividends; Corporate Performance Graph with peer group uses peer group only performance (excludes only company); Peer group indices use beginning of period market capitalization weighting; Prepared by Zacks Investment Research, Inc. Used with permission. All rights reserved. Copyright 1980-2011; Index Data: Copyright S&P. Used with permission. All rights reserved. ANNUAL REPORT 2011 Great Our Products three-pillar Competitive Profitable 2011 = Cost DELIVERING Growth Structure Annual Report to Shareholders RESULTS TO DAY… strategy Net Sales and Revenues Adjusted Net Income Attributable to Adjusted Diluted Earnings Adjusted Manufacturing In millions of dollars Navistar International Corporation Navistar Per Share Navistar Segment Profit (Unaudited & Non-GAAP) (Unaudited & Non-GAAP) (Unaudited & Non-GAAP) In millions of dollars In millions of dollars $800 $14,000 $400 $5.00 $350 $700 $12,000 $300 $4.00 $600 $10,000 $250 $500 $8,000 $3.00 $200 $400 $6,000 $150 $2.00 $300 $4,000 $100 $200 $1.00 $2,000 $50 $100 Navistar International Corporation 2701 Navistar Drive $0 $0 $0 $0 Lisle, IL 60532 09 10 11 09 10 11 09 10 11 09 10 11 www.navistar.com Financial Summary In millions of dollars (except per share data) 2009 2010 2011 Net Sales and Revenues $11,569 $12,145 $13,958 Net Income Attributable to Navistar International Corporation $320 $223 $1,723 Adjusted Net Income Attributable to Navistar International Corporation (Unaudited & Non-GAAP)1 $202 $223 $402 Diluted Earnings Per Share Attributable to Navistar International Corporation $4.46 $3.05 $22.64 Adjusted Diluted Earnings Per Share (Unaudited & Non-GAAP)1 $2.86 $3.05 $5.28 Manufacturing Segment Profit (Unaudited & Non-GAAP)1, 2 $836 $741 $707 Adjusted Manufacturing Segment Profit (Unaudited & Non-GAAP)1, 2 $707 $741 $882 1See the REG G Non-GAAP Reconciliation, found on the inside back cover, for additional information. 2The Manufacturing segment collectively represents the Company’s Truck, Engine and Parts segments. Stock Performance | Comparison of 5 Year Cumulative Total Return | Assumes Initial Investment of $100 | October 2011 BUILDING 2007 2008 2009 2010 2011 $250 THE FOUNDATION $200 Navistar 227.19 108.62 119.51 173.74 151.71 FOR OUR FUTURE $150 NASDAQ Composite-Total Returns 114.56 73.21 80.38 93.66 101.24 THROUGH INTEGRATION $100 S&P Construction & Farm 147.07 70.94 98.14 155.45 170.64 $50 07 08 09 10 11 – Navistar – NASDAQ Composite-Total Returns – S&P 500 Construction, Farm Machinery & Heavy Truck Index NOTES: Data complete through last fiscal year; The comparison assumes $100 was invested on October 31, 2006, in Navistar Common Stock and in each of the indices shown and assumes reinvestment E Printed on recycled paper of dividends; Corporate Performance Graph with peer group uses peer group only performance (excludes only company); Peer group indices use beginning of period market capitalization weighting; Prepared by Zacks Investment Research, Inc. Used with permission. All rights reserved. Copyright 1980-2011; Index Data: Copyright S&P. Used with permission. All rights reserved. RRD1465cv.indd 1 1/4/12 7:02 PM Expanding Our Business by Sustaining Customers through the Entire Life Cycle SHAREHOLDER INFORMATION Annual Meeting SEC Filings Stock Trading Information The annual meeting of shareholders Filings with the U.S. Securities and Navistar International Corporation is Trucks Engines Parts and Service will be held at 11:00 a.m. Central time Exchange Commission, including listed on the New York Stock Exchange. Tuesday, February 21, 2012, at: the latest 10-K and proxy statement, Ticker Symbol: NAV are available on our Website at Hyatt Lisle http://ir.navistar.com/ Independent Auditor 1400 Corporetum Drive KPMG LLP Common Platform Global Powertrain Global Distribution Centers Lisle, IL 60532 Transfer Agent 303 East Wacker Drive USA For inquiries regarding name changes, Chicago, IL 60601 changes of address or missing Investor Relations certificates, please contact our Corporate Headquarters For information about shareholder shareholder service provider: Navistar International Corporation matters, please contact the investor BNY Mellon Shareowner Services 2701 Navistar Dr. relations team: P.O. Box 3315 Lisle, IL 60532 Website: http://ir.navistar.com/ South Hackensack, NJ 07606-1915 Telephone: (331) 332-5000 DuraStar ProStar+ Vesta MN25 Telephone: (331) 332-2143 4.8L 7.2L 480 Washington Blvd. Email: [email protected] Jersey City, NJ 07310 Telephone: (888) 884-9359 REG G NON-GAAP RECONCILIATION FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 (In millions except per share data) Net Income Attributable to Navistar International Corporation $ 320 $ 223 $1,723 Plus: Restructuring of North American manufacturing operations(1) - - 127 WorkStar LoneStar Continental Mixer 9900 9.3L Engineering integration costs(2) - - 64 Medicare Part D ruling related to prior period(3) - - 15 Ford settlement, restructuring and related benefits(4) (160) - - Impairment of property, plant, and equipment(5) 31 - - 7 DT & 10 Write-off debt issuance cost(6) 11 - - Less: Income tax valuation allowance release(7) - - 1,527 Adjusted income attributable to Navistar International Corporation $ 202 $ 223 $ 402 Diluted earnings per share attributable to Navistar International Corporation $ 4.46 $ 3.05 $ 22.64 Less: Effect of adjustments on diluted earnings per share attributable to Navistar International Corporation 1.60 - 17.36 Adjusted diluted earnings per share attributable to Navistar International Corporation $ 2.86 $ 3.05 $ 5.28 Weighted average number of diluted shares outstanding 71.8 73.2 76.1 Blower Motor Net income attributable to Navistar International Corporation $ (333) $ (44) $ 139 $ 301 $ (120) $ 134 $ 320 $ 223 $ 1,723 School Bus TranStar eStar ATX-6 Brakeshoes Less: Income taxes benefit (expense) (17) (9) (6) (94) (47) (57) (37) (23) 1,458 Financial services segment profit (loss) 87 132 136 147 127 (24) 40 95 129 Corporate and eliminations (310) (178) (412) (590) (662) (478) (519) (590) (571) Manufacturing segment profit $ (93) $ 11 $ 421 $ 838 $ 462 $ 693 $ 836 $ 741 $ 707 Plus: Restructuring of North American manufacturing operations(1) - - - 124 (2) 15 Engineering integration costs - - - 51 11 & 13 Ford settlement, restructuring and related charges (benefits)(4) - - - - - 37 (160) - - Fan Belt Impairment of property, plant and equipment(5) - - - - - 358 31 - - Adjusted manufacturing segment profit $ (93) $ 11 $ 421 $ 838 $ 462 $ 1,088 $ 707 $ 741 $ 882 MaxxPro MXT 9200/9400 TerraStar Air Dryer Cartridge Back-up Warning Alarm 1 Restructuring of North American manufacturing operations are charges primarily related to our plans to close our Chatham, Ontario heavy truck plant and Workhorse chassis plant in Union City, Indiana, and to significantly scale back operations at our Monaco recreational vehicle headquarters and motor coach manufacturing plant in Coburg, Oregon, which totaled $58 million of restructuring charges for the year ended October 31, 2011. We also incurred an additional $5 million of other related costs for the year ended October 31, 2011. In addition, the Company recognized $64 million of impairment charges related to certain intangible assets and property plant and equipment primarily related to these facilities. The Truck segment recognized $124 million of restructuring of North American manufacturing operation charges for the year ended October 31, 2011. 2 Engineering integration costs relate to the consolidation of our Truck and Engine engineering operations as well as the move of our world headquarters. These costs include restructuring charges for activities at our Fort Wayne facility of $29 million for the year ended October 31, 2011. We also incurred an additional $35 million of other related costs for the year ended October 31, 2011.
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