U.S. Floorplan Risk Management
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Company Key Metrics Summary
FOURTH QUARTER
2017
2018
FULL YEAR
H/(L)
2017
2018
H/(L)
Wholesales (000)
1,749
1,474
(16) %
6,607
5,982
Market Share (Pct)
6.6 %
5.9 %
(0.7) ppts
7.0 %
6.3 %
GAAP
Revenue (Bils)
Net Income (Bils)
Net Income Margin (Pct)
EPS (Diluted)
Cash Flows From Op. Activities (Bils)
Non-GAAP
$ 41.3
41.8
1 %
$ 156.8
160.3
2 %
2.5
(0.1)
$ (2.6)
7.7
6.1 %
(0.3) %
(6.4) ppts
4.9 %
3.7
2.3 %
$ (4.1)
(2.6) ppts
$ 0.63
$ (0.03)
$ (0.66)
$ 1.93
$
0.92
$ (1.01)
3.1
1.4
(1.8)
18.1
15.0
(3.1)
(9) %
(0.7) ppts
•
•
All 4Q key metrics lower YoY
except revenue; mainly reflects
performance in China and
Europe
Company adj. EBIT at
$1.5B, down $0.6B; adj. EBIT
margin at 3.5%, down 1.4 ppts
Company adj. EPS at $0.30,
down $0.09; adj. effective tax
rate of negative 4.0%
Company adj. operating
cash flow at $1.5B, down $0.7B
due primarily to lower EBIT
Net income loss of $0.1B, down
$2.6B; includes negative $0.9B
non-cash pre-tax mark-to-market
adjustment for global pension
and OPEB plans
Company Adj. EBIT* (Bils)
$
2.0
1.5
$ (0.6)
$ 9.6
$
Company Adj. EBIT Margin* (Pct)
4.9 %
3.5 %
(1.4) ppts
6.1 %
7.0
4.4 %
$ (2.6)
(1.7) ppts
Adjusted EPS* (Diluted)
$ 0.39
$
0.30
$ (0.09)
$ 1.78
$
1.30
$ (0.48)
Company Adj. Op. Cash Flow* (Bils)
2.2
1.5
(0.7)
4.2
2.8
(1.4)
Adjusted Cash Conversion*
43 %
40 %
Adjusted ROIC* (Trailing Four Qtrs)
11.8 %
7.1 %
(3) ppts
(4.7) ppts
43 %
40 %
(3) ppts
11.8 %
7.1 %
(4.7) ppts
* See Appendix for reconciliation to GAAP, calculations and definitions
10
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