EX-99.1 2 c13739exv99w1.htm FINANCIAL SCHEDULES exv99w1
 

EXHIBIT 99.1
GOODRICH CORPORATION
SEGMENT RESULTS OF OPERATIONS AS REPORTED UNDER THE NEW ORGANIZATION STUCTURE (UNAUDITED)
(DOLLARS IN MILLIONS)
                                                 
    Full Year     1st Quarter     2nd Quarter     3rd Quarter     4th Quarter     Full Year  
    2005     2006     2006     2006     2006     2006  
Sales:
                                                
Actuation and Landing Systems
(formerly Airframe Systems)
   $ 2,126.4     $ 538.4     $ 561.9     $ 556.5     $ 586.2     $ 2,243.0  
Nacelles and Interior Systems (formerly Engine Systems)
     1,734.9       493.8       514.9       464.2       510.6       1,983.5  
Electronic Systems
     1,535.2       391.6       406.4       415.3       438.5       1,651.8  
 
                                    
 
                                                
Total Sales
   $ 5,396.5     $ 1,423.8     $ 1,483.2     $ 1,436.0     $ 1,535.3     $ 5,878.3  
 
                                    
 
                                                
Operating Income:
                                                
Actuation and Landing Systems
   $ 111.4     $ 18.9     $ 41.5     $ 43.0     $ 37.5     $ 140.9  
Nacelles and Interior Systems
     321.9       104.8       114.8       103.4       92.3       415.3  
Electronic Systems
     188.4       47.3       51.9       56.8       65.5       221.5  
 
                                    
 
                                                
Total Segment Operating Income (1)
     621.7       171.0       208.2       203.2       195.3       777.7  
 
                                                
Corporate General and Administrative Costs
     (88.4 )     (27.2 )     (23.9 )     (23.0 )     (30.9 )     (105.0 )
Unallocated ERP Implementation Costs
     —       (1.1 )     (5.5 )     (5.8 )     (4.0 )     (16.4 )
Pension Curtailment
     —       —       (10.9 )     —       —       (10.9 )
 
                                    
 
                                                
Total Operating Income
   $ 533.3     $ 142.7     $ 167.9     $ 174.4     $ 160.4     $ 645.4  
 
                                    
 
                                                
Segment Operating Income as a Percent of Sales:
                                                
Actuation and Landing Systems
     5.2 %     3.5 %     7.4 %     7.7 %     6.4 %     6.3 %
Nacelles and Interior Systems
     18.6 %     21.2 %     22.3 %     22.3 %     18.1 %     20.9 %
Electronic Systems
     12.3 %     12.1 %     12.8 %     13.7 %     14.9 %     13.4 %
 
                                                
Total Segment Operating Income as a Percent of Sales
     11.5 %     12.0 %     14.0 %     14.2 %     12.7 %     13.2 %
 
                                                
Total Operating Income as a Percent of Sales
     9.9 %     10.0 %     11.3 %     12.1 %     10.4 %     11.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 1

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
Full Year   Organizational     Segment     Implementation     Services     Organizational  
2005   Structure     Reorganization     Costs (2)     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 1,854.2     $ 244.6     $ —     $ 27.6     $ 2,126.4  
Nacelles and Interior Systems
     2,237.6       (378.9 )     —       (123.8 )     1,734.9  
Electronic Systems
     1,304.7       134.3       —       96.2       1,535.2  
 
                              
 
                                        
Total Sales
   $ 5,396.5     $ —     $ —     $ —     $ 5,396.5  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 76.0     $ 32.2     $ —     $ 3.2     $ 111.4  
Nacelles and Interior Systems
     399.8       (62.8 )     —       (15.1 )     321.9  
Electronic Systems
     145.9       30.6       —       11.9       188.4  
 
                              
 
                                        
Total Segment Operating Income (1)
     621.7       —       —       —       621.7  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (88.4 )     —       —       —       (88.4 )
Unallocated ERP Implementation Costs
     —       —       —       —       —  
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 533.3     $ —     $ —     $ —     $ 533.3  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     4.1 %                             5.2 %
Nacelles and Interior Systems
     17.9 %                             18.6 %
Electronic Systems
     11.2 %                             12.3 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     11.5 %                             11.5 %
 
                                        
Total Operating Income as a Percent of Sales
     9.9 %                             9.9 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.
     
(2)   No Enterprise ERP implementation costs incurred in 2005.

Page 2

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
1st Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 470.3     $ 63.0     $ —     $ 5.1     $ 538.4  
Nacelles and Interior Systems
     610.5       (91.4 )     —     $ (25.3 )     493.8  
Electronic Systems
     343.0       28.4       —     $ 20.2       391.6  
 
                              
 
                                        
Total Sales
   $ 1,423.8     $ —     $ —     $ —     $ 1,423.8  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 14.3     $ 2.9     $ 0.4     $ 1.3     $ 18.9  
Nacelles and Interior Systems
     118.7       (10.5 )     0.5       (3.9 )     104.8  
Electronic Systems
     36.9       7.6       0.2       2.6       47.3  
 
                              
 
                                        
Total Segment Operating Income (1)
     169.9       —       1.1       —       171.0  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (27.2 )     —       —       —       (27.2 )
Unallocated ERP Implementation Costs
     —       —       (1.1 )     —       (1.1 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 142.7     $ —     $ —     $ —     $ 142.7  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     3.0 %                             3.5 %
Nacelles and Interior Systems
     19.4 %                             21.2 %
Electronic Systems
     10.8 %                             12.1 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     11.9 %                             12.0 %
 
                                        
Total Operating Income as a Percent of Sales
     10.0 %                             10.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 3

 

\

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
2nd Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 488.6     $ 67.5     $ —     $ 5.8     $ 561.9  
Nacelles and Interior Systems
     634.6       (95.5 )     —     $ (24.2 )     514.9  
Electronic Systems
     360.0       28.0       —     $ 18.4       406.4  
 
                              
 
                                        
Total Sales
   $ 1,483.2     $ —     $ —     $ —     $ 1,483.2  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 28.0     $ 10.1     $ 2.0     $ 1.4     $ 41.5  
Nacelles and Interior Systems
     128.9       (10.6 )     2.2       (5.7 )     114.8  
Electronic Systems
     45.8       0.5       1.3       4.3       51.9  
 
                              
 
                                        
Total Segment Operating Income (1)
     202.7       —       5.5       —       208.2  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (23.9 )     —       —       —       (23.9 )
Unallocated ERP Implementation Costs
     —       —       (5.5 )     —       (5.5 )
Pension Curtailment
     (10.9 )     —       —       —       (10.9 )
 
                              
 
                                        
Total Operating Income
   $ 167.9     $ —     $ —     $ —     $ 167.9  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     5.7 %                             7.4 %
Nacelles and Interior Systems
     20.3 %                             22.3 %
Electronic Systems
     12.7 %                             12.8 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.7 %                             14.0 %
 
                                        
Total Operating Income as a Percent of Sales
     11.3 %                             11.3 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 4

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
3rd Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 481.1     $ 69.4     $ —     $ 6.0     $ 556.5  
Nacelles and Interior Systems
     582.5       (92.1 )     —     $ (26.2 )     464.2  
Electronic Systems
     372.4       22.7       —     $ 20.2       415.3  
 
                              
 
                                        
Total Sales
   $ 1,436.0     $ —     $ —     $ —     $ 1,436.0  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 30.8     $ 9.0     $ 2.1     $ 1.1     $ 43.0  
Nacelles and Interior Systems
     116.2       (10.8 )     2.4       (4.4 )     103.4  
Electronic Systems
     50.4       1.8       1.3       3.3       56.8  
 
                              
 
                                        
Total Segment Operating Income (1)
     197.4       —       5.8       —       203.2  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (23.0 )     —       —       —       (23.0 )
Unallocated ERP Implementation Costs
     —       —       (5.8 )     —       (5.8 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 174.4     $ —     $ —     $ —     $ 174.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     6.4 %                             7.7 %
Nacelles and Interior Systems
     19.9 %                             22.3 %
Electronic Systems
     13.5 %                             13.7 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.7 %                             14.2 %
 
                                        
Total Operating Income as a Percent of Sales
     12.1 %                             12.1 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 5

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
4rth Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 510.6     $ 68.7     $ —     $ 6.9     $ 586.2  
Nacelles and Interior Systems
     627.7       (93.5 )     —     $ (23.6 )     510.6  
Electronic Systems
     397.0       24.8       —     $ 16.7       438.5  
 
                              
 
                                        
Total Sales
   $ 1,535.3     $ —     $ —     $ —     $ 1,535.3  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 24.4     $ 10.7     $ 1.4     $ 1.0     $ 37.5  
Nacelles and Interior Systems
     107.2       (13.4 )     1.7       (3.2 )     92.3  
Electronic Systems
     59.7       2.7       0.9       2.2       65.5  
 
                              
 
                                        
Total Segment Operating Income (1)
     191.3       —       4.0       —       195.3  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (30.9 )     —       —       —       (30.9 )
Unallocated ERP Implementation Costs
     —       —       (4.0 )     —       (4.0 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 160.4     $ —     $ —     $ —     $ 160.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     4.8 %                             6.4 %
Nacelles and Interior Systems
     17.1 %                             18.1 %
Electronic Systems
     15.0 %                             14.9 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     12.5 %                             12.7 %
 
                                        
Total Operating Income as a Percent of Sales
     10.4 %                             10.4 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 6

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
Full Year   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 1,950.6     $ 268.6     $ —     $ 23.8     $ 2,243.0  
Nacelles and Interior Systems
     2,455.3       (372.5 )     —       (99.3 )     1,983.5  
Electronic Systems
     1,472.4       103.9       —       75.5       1,651.8  
 
                              
 
                                        
Total Sales
   $ 5,878.3     $ —     $ —     $ —     $ 5,878.3  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 97.5     $ 32.7     $ 5.9     $ 4.8     $ 140.9  
Nacelles and Interior Systems
     471.0       (45.3 )     6.8       (17.2 )     415.3  
Electronic Systems
     192.8       12.6       3.7       12.4       221.5  
 
                              
 
                                        
Total Segment Operating Income (1)
     761.3       —       16.4       —       777.7  
 
                                        
Corporate General and Administrative Costs
     (105.0 )     —       —       —       (105.0 )
Unallocated ERP Implementation Costs
     —       —       (16.4 )     —       (16.4 )
Pension Curtailment
     (10.9 )     —       —       —       (10.9 )
 
                              
 
                                        
Total Operating Income
   $ 645.4     $ —     $ —     $ —     $ 645.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     5.0 %                             6.3 %
Nacelles and Interior Systems
     19.2 %                             20.9 %
Electronic Systems
     13.1 %                             13.4 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.0 %                             13.2 %
 
                                        
Total Operating Income as a Percent of Sales
     11.0 %                             11.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

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