Moog Annual Report 2022 122022 - Flipbook - Page 14
FINANCIAL REVIEW (Dollars and shares in millions, except per share data)
2012*
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
$ 1,256
$ 1,161
$ 1,206
$ 1,303
$ 1,194
$ 1,125
$ 1,064
$ 1,087
$ 1,118
$ 1,060
$ 963
SPACE AND DEFENSE CONTROLS1
$ 872
$ 799
$ 770
$ 683
$ 581
$ 529
$ 499
$ 381
$ 395
$ 396
$ 359
INDUSTRIAL SYSTEMS 1
$ 907
$ 892
$ 909
$ 918
$ 935
$ 843
$ 849
$ 522
$ 591
$ 592
$ 634
–
–
–
–
–
–
–
$ 536
$ 545
$ 563
$ 514
$ 3,036
$ 2,852
$ 2,885
$ 2,905
$ 2,709
$ 2,498
$ 2,412
$ 2,526
$ 2,648
$ 2,610
$ 2,470
EARNINGS BEFORE TAXES
$ 203
$ 204
$5
$ 227
$ 184
$ 182
$ 173
$ 173
$ 219
$ 165
$ 209
ADJUSTED EARNINGS BEFORE TAXES2
$ 228
$ 205
$ 197
$ 227
$ 221
$ 182
$ 173
$ 173
$ 219
$ 165
$ 209
NET EARNINGS
$ 155
$ 157
$9
$ 175
$ 95
$ 143
$ 127
$ 127
$ 127
$ 120
$ 152
ADJUSTED NET EARNINGS2
$ 179
$ 158
$ 157
$ 175
$ 165
$ 143
$ 127
$ 127
$ 127
$ 120
$ 152
NET RETURN ON SALES
5.1%
5.5%
0.3%
6.0%
3.5%
5.7%
5.3%
5.2%
6.0%
4.6%
6.2%
BASIC EPS
$ 4.85
$ 4.90
$ 0.28
$ 5.01
$ 2.67
$ 3.99
$ 3.49
$ 3.39
$ 3.57
$ 2.66
$ 3.37
DILUTED EPS
$ 4.83
$ 4.87
$ 0.28
$ 4.96
$ 2.64
$ 3.95
$ 3.47
$ 3.35
$ 3.52
$ 2.63
$ 3.33
ADJUSTED EPS 2
$ 5.56
$ 4.88
$ 4.81
$ 4.96
$ 4.57
$ 3.95
$ 3.47
$ 3.35
$ 3.52
$ 2.63
$ 3.33
32.1
32.3
33.4
35.2
36.1
36.2
36.5
39.3
45.0
45.8
45.7
RESEARCH AND DEVELOPMENT
$ 110
$ 126
$ 111
$ 126
$ 130
$ 144
$ 147
$ 132
$ 139
$ 135
$ 116
CAPITAL EXPENDITURES
$ 139
$ 129
$ 88
$ 118
$ 95
$ 76
$ 67
$ 81
$ 79
$ 93
$ 107
$ 88
$ 90
$ 87
$ 85
$ 89
$ 90
$ 99
$ 104
$ 109
$ 108
$ 101
$ 3,432
$ 3,433
$ 3,226
$ 3,114
$ 2,964
$ 3,091
$ 3,005
$ 3,037
$ 3,140
$ 3,151
$ 3,106
WORKING CAPITAL
$ 920
$ 849
$ 903
$ 901
$ 798
$ 997
$ 938
$ 931
$ 849
$ 834
$ 885
INDEBTEDNESS – TOTAL
$ 838
$ 904
$ 930
$ 833
$ 863
$ 957
$ 1,006
$ 1,070
$ 872
$ 706
$ 765
SHAREHOLDERS’ EQUITY
$ 1,437
$ 1,400
$ 1,243
$ 1,322
$ 1,225
$ 1,214
$ 988
$ 995
$ 1,347
$ 1,536
$ 1,305
BACKLOG (12 month)
$ 2,300
$ 2,100
$ 1,658
$ 1,502
$ 1,481
$ 1,212
$ 1,225
$ 1,273
$ 1,340
$ 1,296
$ 1,279
NUMBER OF FULL-TIME
EMPLOYEES
12,891
12,847
12,623
12,809
11,787
10,675
10,497
10,691
11,031
11,152
10,976
SEGMENT SALES
AIRCRAFT CONTROLS
COMPONENTS1
NET SALES
EARNINGS PER SHARE
DILUTED WEIGHTED-AVERAGE
SHARES OUTSTANDING (in millions)
DEPRECIATION AND AMORTIZATION
AT YEAR END
TOTAL ASSETS
The former Components segment has been divided and merged into the Space and Defense Controls and Industrial Systems segments.
2018 adjusted EPS of $4.57 excludes the impact of charges associated with portfolio shaping and special impacts from the U.S. Tax Act.
2
2020 adjusted EPS of $4.81 excludes the impact of charges associated with COVID-19 pandemic ($1.68) and pension settlement accounting ($2.85).
2
2021 adjusted EPS of $4.88 excludes a pension curtailment gain $0.18 and various impairments ($0.17).
2
2022 adjusted EPS of $5.56 excludes the impact of charges associated with various impairments and portfolio shaping activities ($0.73).
1
2
14
* Not restated for Total Assets, Working Capital and Indebtedness.
Amounts may not equal the total due to rounding.